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<br /> owner of the property, (h) a tranRFer into an inter vivoa truat in which the I3orrower is and remains a beneficiary and ,,.,�;_
<br /> which doe.q not relate to a transfer of righta of occupancy in the property,or (i)nny other tranefer or dieposition `
<br /> �?`,+'A'.'`�_�..
<br /> described in regulatione prescribed by the Fedcral Eiome Loan Bank Board, Aorrower shall cause to be aubmitted � ., ��
<br /> � inPormation required by Lender to evaluate the transferee as if a new loan wcre being mada to the transferee. Borrower ' _':.��,
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<br /> will continue to be obligated under the Note and thi� Deed of'Trust unlesa Lender releases Borrower in writing. � . � ''�•�+�r,:�,,�
<br /> �� _s If I,ender does not agree to such sale or trensfer,Lender may declara all of tha sume secured by this Deed o4'Prust to '.,}�._,._�„=__
<br /> be immediately due and payable. If Lender exercises such option to accelerate, Lender shall mail Borrower notice oP .�.•,,,,,,,,,_
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<br /> ��''� acceleration in accordance with paragraph 12 hereof.Such notice ehall provide a periad of not less than 30 days from the , y.,.y,x__„�__,--
<br /> date the notice ie mailed or delivered within which Horrower may pay tha eums declared due. If Iiorrowar fails to ay �:���k*:=°==�°-_
<br /> P �r;�.��u�a�e:.
<br /> '*'"`'y �� such sumb prior to the expiration of such period, I.ender may, without further n�tice or demand on Horrower, invoke ,
<br /> �' ' ''°"'� ` ara ra h 17 hereof. f ':�
<br /> any remedies permitted by p g p , ,...,_..___
<br /> ` NON'UI�IFORM COVENANTS. Borrowar and Lender further covenent and ugree ea foUows: '' _ __.
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<br /> . 17. Acceleration; Remedies. Except as provided in p�ragr�ph 1 b hereof, or �e utherwi�o required by I�w, ^�'°��
<br /> , �, .e,_
<br /> � upon Horrower's broach of �ny covenant �r agreemont of Borrowor in this Deed c�t Trust. includinQ ='��• -
<br /> Borrower's fsilure to pay, by the end of ton (10) calend�r days�[ter the date they aro due, �ny�umA eecured �:_
<br /> by thie Deed of'fruat, Lender pric�r tn�cceloration ehall eive notice to Bc�rrowor�A prc�vided in pan�raph 12 �--
<br /> - hereof specifying: (1)tho brotch; (2� the�ction required to curo such bre�ch; (3) ■ date, not leee than 20 d�yR = _
<br /> ' irom tho date the notice ie m�iled to H�rrowor, by which Auch bre�ch muet be curod; md (4) th�t tdlure to �.u�__
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<br /> curo auch breach on or bofore tl�o d�te Apecified in tho notico may result in �ccoloratic�n of the eum� Recured _____
<br /> � by this Deed oi Truet end e�le c�� the Prc�perty. 1'he notico sh�ll furthor infarm H�rrc�wor ot tho ri�ht to b ry_9-�: �
<br /> , � �+! roinstNte after acceleration and tho right to brfng court action to assert the nonaxiAtonco of • dofault or any �
<br /> y other detense of B�rrower to ecceleration and salc. If the breach is not curod on �r before the d�to specified R;=A�
<br /> 0'� in tho notice, Lender, at Lender's option, mey declaro ril of the sums sccured by this Deed of 'Trudt to be f ,:_.___._
<br /> � ' G7 immediitely due and p�yable without furthor damand snd m�y invoke the power of sala md �ny other `.,"'''"'"��
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<br /> '� � ramedies permitted by epplicable law. I.ender shsll be entitled to callect all coste and expenses incurred in [ _�._�
<br /> pursuing the remedies provided ia this paragraph 17 to the eztent permitted by applicable law. �`�-
<br /> i�, ' If Lendor invokes the power of sale, Lender or Truatee shsll mail copias of� notice af eale ia the m�nner �;�-
<br /> # '+ prescribed by applicable law to Borrow�er and to the other persons prescribed by appllc�ble law.Trustee sh�ll
<br /> C�� give notice of sale by public advertisoment for the time and in the manner prescribed by applicable law. _ _
<br /> �� Truateo, without demand on Borrower,shall sell tho Property at public�uction to the highcat bidder for cash _ _
<br /> :,--: ::--_:� ai tht tim� �!n�! pir��wnd under the terms designsted in the notIce of salo in one or more parcels aad im auch _
<br /> � order sa Truatee may determine.Trustee may postpone sele of all or any parcel of the Property to any l�ter — _
<br /> time on the same dste by public ennouncement at tho time and Placo of any previously schedulcd sale.
<br /> � Lender or Lender's dcsignee may purchase the Property et any sale. _
<br /> Truatee shsll deliver to tho purchaser Trustte's deed conveying the Property so sold without any covenant ,
<br /> or warranty, expressed or implied. The recitals in the Trustee's dead shall be prima facie evidence ot the
<br /> truth oi the statements made therein. Trustce shall apply the proceeds oi the ssle in the tollowing order: (a)
<br /> to all reasonable costs end oxp�nses of the salc, including, but not limited to, reasonable Trustee's feea and
<br /> • attorneys' fees and costs of title evidence; (b) to ell sums secured by this Deed of Trust; and (c)the excess, if
<br /> any, to the person or persons legelly entitled thereto.
<br /> 18. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sume secured by this Deed of
<br /> Truat due to Borrower's breach, Borrower shall have the right to have any proceedinge begun by L.ender to enforce this _
<br /> Ueed of Trust discontinued at any time prior to the earlier to occur of (i) the fifth day before the sale of tha Property
<br /> ' pursuant to the power of sale contained in this Deed of'Trust or(ii) entry of a judgment enforcing this Deed of Trust if:
<br /> (a) Aorrower paye Lender all suma which would be then due under this Deed of Trust and the Note had no acceleration _
<br /> ,�, occurred; (b) Dorrowar cures all breaches of any other covenants or agreementa of Borrower contained in this Deed of =
<br /> Trust; (c) Borro�ver pay9 all reasonable expenses incurred by Lender and Truatee in enforcing the covenenta and �
<br />_ ��t agreementa of Harrower wntained in this lleed of Trust, and in enforcing Lendar'a and Trustee's remedies as provided ___ .
<br />- ,; in paragraph 17 hereof,including, but not limited to, reasonable attorneys'fees to the extent permitted by applicable law; _
<br />_ ' � and (d) Bonower takes sucti action as L.ender may reasonably require to assure that the lien of this Deed of Trust, �
<br /> -� Lender's inter�t in the Property and Borrower's obligation to pay the sums secured by this Deed of Trust shall continue `,:�
<br /> � . unimpaired. Upon such payment and cure by I3orrower, this Deed of Trust and the obligations secured hereby shall =_-
<br /> � remain in full force and effect ea if no acceleration had occurred. -"' —
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<br /> 19. Assignment of Rents; Appointment of Receiver; l.ender in Possession. As additionai security hereunder, __; .�
<br /> ° T3orrower hereby assigns to Lender the renu of the Property, provided that Borrower shall, prior to acceleration under '�_�.1.-����:;
<br /> � paragraph 17 hereof or abundonment of the Property,hsve the right ro collect and retain such rente as they become due _�•�`��
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<br /> � and payable. �w'`'�'�'��'�-�`Y
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<br /> - Upon acceleration under paragraphy 17 hereof or ubandonment of the Property, Lender, in person,by agent or hy � z,m.,;:
<br />-_ • judicially appointed receiver, shall be entitleci to enter upon,take possession of and manage the Property and to collect '�'�;�: �'
<br /> ., .,�..
<br />= the rents of the Property including those past due. All rents collected by Lender or the receiver shall beapplied first to , y�;�:�='�•�
<br /> - payment of the costs of management of the Property and collection of rents, including, but not limited to, receiver's .
<br /> - fees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this Ueed of Trust.
<br /> ° Lender and the receiver shall be liable to account only for those rents actually received.
<br /> 2Q. Releasc. Upon payment of all sums s�:cured by this lleed of Trust, and,if this Deed of Trust secures a Revolving
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<br /> _ . i.�An Avreement. Aorrower reauests Lender to release this l�eed of'I'rust, L.ender shall cause this Deed of T'rust to be
<br /> . � released without chsrge to Borrower. l;orro�ver shall pay all costs of recordation, if any,
<br />� i 21. 5ubstitute 'frustec. I.ender, at I,ender's option, may frorn time to time appoint a successnr trustee to any
<br /> I 'I'rustee appointed hereundcr by an instrument recorded in the county in Khich this lleed of 'I'rust is recorded. Without
<br /> , conveyance of the Properry, the successor trustee shaU succeed to all the title, pc�wer and duties conferred upon the
<br /> i 'Trustee herein and by applicable law. .
<br /> 22. Requcst for Noticcs. f3orrn�ver reyues�5 that copie;s c�f the notice of default and notice of sale bc sent to i
<br /> 13orrotiver's address which is the F'ropert�� rlddre;ss. '
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<br /> : OE•30•94 Duotl ol Trust NG ORIGIWII IIII��IIIiIIIIIIIIII�IIIIIIIIIIIII�IIIIIIIIIII�IIII�IIIII�IIIIIIIIIIIIIII�IIIIIIII�IIIIIIIIIIIIII NE007924
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