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<br /> o�vner of the property, (h) a trnn�fcr into an intcr vivos trust in which the Borrowcr ie nnd remuine a heneficiary and ,
<br /> which does not relate to n transfor of rights of occupancy in th� pmperty,or (i) any �ther trnneter c�r disposition �, Q
<br /> ' described in regulatione prescribed by the ��ederal Tic�me I.oun Iiank l;oard, Horrower ehall cause to be submitted :r•,;,,''
<br /> information required by I.ender to evaluate the traneferee ae it a new loan were being made t�thc transteree. Horrower -•�`=
<br /> �,••+;:
<br /> will continue to be abligated under the Noteand thie Deed af'1'rust unlesa I.ender release.9 Horrower in writing. :�,_�„---
<br /> If I.ender does not agree ta such sale or trens[er, I.rnder mey declare all of the sume secured by this I�eed of"I'rugt to , .;,�. :�^
<br /> be immediatCly due and payable. If Lenderesercises such option to accalerate, l,ender ahall mail 13orcc�wer notice of .'
<br /> acceleration in accordance with paragraph 12 hereof.Such notice shall provide a period of not less than 30 day�trom the .; y;:��,,:,��"
<br /> ,,..;.:� date the notice is mailed or delivered within which Borrawer may pay the sums declared dtto.If Iiorrower tails to pay �:'..;�:',,,;f,�-
<br /> � h�s such sumn rior to the ex iration of such riad, I.ender may, without further notice or dernand on Borrower, invoke ��::',;,;�;'
<br /> , P P P� ;,;.;;,�;�:;.t::�,..
<br /> any remedies permitted by paragraph 17 hereof. ", ..�":i�'=�
<br /> NON-UNIFORM COVENANTS. Borro�ver and Lendcr further covenant and agree as follows: '��;��,;:�;�-'
<br /> 17. Acceleratlon; Remedies. Except as provided in paragraph 16 hereot, or as otherwise required by lew, :`;�,�='''f�Y_ ---
<br /> • .�•��:_.
<br /> . upon Borrower's breach of any coventnt or sgreoment of Borrower in this Deed of Trust, including .�;�y�,���
<br /> � Borrower's failure to pay, by the �nd ot ten(10) calendar daye after the d�tc they are due,any sums secured •�,�:-_
<br /> by this Deed of Trust, Lender prior to acceleration shall give notice to Burrawer ae provided in parsgraph 12 �;�=°
<br /> hereof specifying: (1) the breach; (2)theacti�n required to cure such breach; (3) a date, not less than 20 days ��Y�'Y
<br /> x�`:'-
<br /> � from the date the notice is mailed to Borrower, by which such bresch muet be cured;snd (4) that failure to __v�_�
<br /> cure such breach on or before tho d�to specitied in the notice may result in Acceleration of the suma secured ^����-
<br /> C''.� by this Deed of Trust and sale of the Property. The notice shall [urther iaform Borrower of the right to � .:.��___.
<br /> �reinatate atter acceleretion and the right to bring court action to aesert the nouexisteace of a default or any :;.;.----
<br /> �� �other defense of Borrower to accoleration and sale. If the broach is not cured on or before the date speciiied ' ��"
<br /> `• -�_�:
<br /> � G in the notice, Lender, at Lender's option, may declaro all of the sums secured by this Deed of Trust to be � .�,��;;a
<br /> }� ••.,-�immediatcly due and payable without further demand and may invoke the power of sale and any other ----�
<br /> , remedies permitted by applicable law. Lender shell be entitl�d to collect all costs and expenses incurred in ';��`:"'"�
<br /> � � pursuing the remedies provicied in tbis pAragraph 17 to the extent permitted by appliceble la6r. ';;•�;:
<br /> ��" If Lender invokes the power of sile. Lender ar Trustee shall mail copies of a notice of sale in the manner 1�.�:` � `
<br /> prescribed by applicable law to Borruwer snd to the oth�r persons prescribed by applicnblc law. Truatee ahall ;_�• �:-
<br /> :�j give notice of sale by public advertisement for the timo and in the manner proacribed by �pplicable law.
<br /> Trustee, wituout demand on Borrower,shall sell tha Proparty at pubtic auction to the highest bidder for cash _��__
<br /> `, , at tho time and place and under tine terms designaicd iu thb 7oLIC�of salC iD aRZ Of ZYlOi!'(!�!Sr_.�1��nd in suCh _��� :�
<br /> fi � order as'Trustee may determine. Trustee may postpone sale of all or any parcel of the Proparty to any lator ��•���
<br /> E---
<br /> � � time on the same d�te by public annauncement at the time and place of aay previously scheduled sale. p_� ___
<br /> �' I.ender or Lender's designee moy purch�se the Property�t any sale. = _—
<br /> i Trustee sh�ll doliver to the purch�ser'I'rustee s deed conveying the Property so sold without any covcnant ___ __
<br /> '� c�r w�rranty, expre�ssed or implied, 'I'ho recitals in the Trustee's deed Ahdi be prima facie ovidence of the - - —
<br /> truth c�f the statomonts m�de therein. 'Prustee shall spply the proceeds of the sale in the tollowing order: (a)
<br /> �i to all re�son�blo casta�nd expenses ot the Rsle, including, but nc�t limited to, re�sonable Trustee'd tees and h�'
<br /> "+ �ttc�rneys' fees ond costa of title evidence; (b) to all snms secured by this Deed of Trust; and (c) the excess, if _
<br /> sny, to thc person ar persons legally cntiticd thereto.
<br /> 18. Borrnwer's Right to Reinstete. Not��ithstanding I.ender's acceleration of the sums secured by this Deed of
<br /> ' Trust due to Borrower's breach, Borrower shall have the right to have any proceedings begun by Lender to enforce thia
<br /> ..� Deed of 'Trust discontinued at any time prior to the earlier to occur of (i) the fitth day before tha sale of the F'roperty �
<br /> �r pursuent to the power of sala contained in this Deed of Trust or (ii)entry of a judgment enforcing this Deed of Trust if: t •
<br /> (a) Borrower pays L.ender all sumA which would be then due under this Deed of Truxt and the Note had no acceleration �
<br /> �� occurred; (b) $orrower cures all breaches of any other covenants or agreements of Borronrer contained in this Deed o[
<br /> ' Trust; (c) Borrower pays etl reasonable ezpenses incurred by I.ender and Trustee in enforcing the covenants and t �.���
<br /> �� �� agreements of I3orrower contained in this lleed of Trust, and in enforcing Lender's and Truatee's remedies as provided �•.;_�rt-=`. ..
<br /> in paragraph 17 hereof,including,but not limited to, reasonable attorneys'fees to the extent permitted by applicable law; _
<br /> � � and (d) Borrower takes such action as Lender may reasonably require to essiire that the tien of thie Deed of Truat, _�
<br /> + Lender'�s interest in the Property and Borrower's obligation to pay the sums secured by thie Deed of Trust shall continue ��`n�'" �
<br /> unimpaired. Upon such payment and cvre by Borrower, this Deed of Trust and the obligations secured hereby shall �
<br /> remain in full force and effect as if no acceleration had occurred. '•'•:�
<br /> 19. Assignment of Rents; Appoiutrnent of Receiver; Lender in Possession. As additional security hereundar, , �'�-'-
<br /> �,�� � .,.;��-
<br /> Borrower hereby assigns to Lender the rents of the Property, provided that Borrower shall. prior to acceleration under `4:;�r'. • ,'.';'
<br /> • paragraph 17 hereof or abandonment of the Yroperty, have the right to collect and retain auch rents as they become due :u�w ,._�_.^ W�°;.
<br /> • t
<br /> and payable. . "' .�:•.: ';'• '
<br /> [Jpon acceleration under paragraphy 17 hereof or abandonment of the Yroperty, Lender, in person, by agent or by
<br /> . judicially appointed receiver,shall be entitled to enter upon, take pc�ssession of and manage the Property and to collect I � ;�;�, .-
<br /> the rents of the I'roperty including those past due. All rents collected by I.ender or the receiver shall be applied first to ,
<br /> payment of the wsts of management of the Property and collection ot rents, including, but not limited to, receiver's
<br /> fees, premiums on receiver's bonds and reasonnble attorneys' fees, and then to the sums secured by this lleed of'I'rust.
<br /> • I,ender and the receiver shall be liable to account onlp for those rents actually received.
<br /> 20. Release. Upon payment of al l surrissecured by� this lleed�f'I�cust, and, if thi�I�eed of'I'rust secures a Kevolving
<br /> .L�_ r�__a _r�r...... i..,a.,.. o1.�it �o.��a rhie i�rP�i nf'I'nint tn he
<br /> ' Loan Agreement, iiorrower requests i�;nucr iu �oica5c w�a �icca+ vi a�..��. •••:••�-• �••—•- ---- -•••- ----- -- - �` °L=-------
<br /> released without charge to }3orro�eer. Norrower shall pay all costs of rec:ordation,if any. I
<br /> 21, Substitute "Trustee. I,ender, at Ixnder's optioti, may from time to time appoint a success�r trustee to any
<br /> '1'rustce 3ppointed her�under by an instrument rec:orded in the county in which this lleed of'frust is recorded. Without �
<br /> conveyance of the Propert}�, the successor trustee shall succeed w all the title,power and duties conferred upon the �
<br /> 'I�rustee herein and by applicable law. �
<br /> 22. Request for Notices. Borro«�er requcsts that copies of the notice of default and notice nf sale be sent to
<br /> $orrower's addre.ss which is the I'roperty �lddress. �
<br /> I
<br /> - 00-30•94 Onud of Truet NF. ORIGINAL IIIIIIIIIIIIIII�IIIIIIII�IIII�IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII�IIIIIIIIIIIIIIIIIIIII���IIIIIIIIIIII NE007924
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