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89- 100606
<br />9. Condemnation. The proceeds of any award or claim tot damages, direct or consequential. in connection with any
<br />condemnation or other taking the property,
<br />of or partthereot, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Deed of Trust with
<br />the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise
<br />agree in writing, there shall be applied to the sums secured by this Deed of Trust such proportion of the proceeds as is equal to
<br />that proportion which the amount of the sums secured by this Deed of Trust Immediately prior to the date of taking bears to the
<br />fair market value of the property immediately prior to the date of taking, with the balance of the proceeds paid to Borrower.
<br />If the Property is abandoned by Borrower, or if,
<br />after notice by Lender to Borrower that the condemnor offers to make an
<br />award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is mailed.
<br />Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the Property or to
<br />the sums secured by this Deed of Trust
<br />Unless lender and Borrower otherwise agree in writing,any such application of proceedsto principal shall not extend or
<br />postpone the due date of the monthly installments referred to In paragraphs 1 and 2 hereof or change the amount
<br />installments. of such
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured by this
<br />Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, the
<br />liability of the original Borrower and Borrower's successors interest Lendershall not be required to commence proceedings
<br />against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this
<br />Dead of Trust by reason of any demand made by the original Borrower and Borrower's successors in interest
<br />11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The
<br />procurement of insurance otthe payment of taxes or other liens or charges by Lender
<br />shall not be a waiver of Lender's right to
<br />accelerate the maturity of the indebtedness secured by this Deed of Trust.
<br />12. Remedies Cumulative All remedies provided in this Deed of Trust are distinct and cumulative to any other right or
<br />remedy under this Dc =d of Trust or afforded by law or equity, and may be exercised concurrently, independently or
<br />successively.
<br />13• Successors and As"no Hound; Joint and Several Unbility; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be jj'gmt and several. The
<br />captions and headings of the paragraphs of this Deed of Trust are for convenience only and are ttottobe used to interpret or
<br />define the provisions hereof.
<br />14. Notk*. Exceptfor any notice mquired under applicablelawto be given in another maMrrer.' . (a);7riy notice to Borrower
<br />provided for in this Deed of Trust shall be given by mailing such notice by certified mail addressed toBorrower at the Property
<br />Address or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any notice to
<br />lender shall be given by certified mail, return receipt requested, to Lender's address stated herein or to such other address as
<br />Lender may designate by notice to Borrower
<br />as provided herein. Any notice provided for in this Deed of Trust shall be deemed
<br />to have been. given to Borrower or Lender when given in the manner designated herein.
<br />15. UnKarm Deed of Trust: Governing Law; SawmabMty, The f -m c+t tiled ctArust cc.^tbirr : s:zifa:'m rcv -manta for
<br />`
<br />national use and non - uniform covenants with Ilmited variations by jurisdiction to constitute a uniform security instrument
<br />covering real property. This Deed of Trust shall be governed b the law of the jurisdiction in
<br />g y the Pro is
<br />which located. In
<br />the event that an ) piny
<br />y provision or clause of this Deed of Trust or the Note conflicts with applicable law, such conflict shall not
<br />affect other provisions of this Deed of Trust or the Note which can begiven effect withoutthe conflicting provisions, and to this
<br />end the provisions of the Deed of Trust and the Note are declared to be severable.
<br />16. 1110tn:wer's Copy. Borrower shall be furnished:'MWO "d. copy of the Note and of this Deed of Trust at the time of
<br />execution vr after recordation hereot t;�,a;•r ti,.:.
<br />17. Transfer of the Property; Assumption.-If allor any part of the property or an interest therein is sold or transferred by
<br />Borrower without Lender's prior written consent exalt i ing (a) the creation cha lien or
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<br />encumbrance subordinate to this Deed
<br />of Trust, (b) the creation of a purchase money security interest for househot dappliances, (c) a transfer by devise descent or by
<br />operation of law uporift death of a jointtenantor (d) the grartdfailyleasehold interestof Oree years or less not containing an
<br />option to purchase, Lender may, at Lender's option, declare alb6e sums secured by th'- s.Deed of Trust to be immediately due
<br />and payable. Lender shall hayewa<�d such option to accelerate if, prior to the sale or transfer, Lender and the person to
<br />whom the Property is to be solili'gr transferred reach agreement in writing that the credit of such person is satisfactory to
<br />i >=
<br />Lender and thatthe intereftayabteoatt a sums secured by this Deed of Trust shall be at such rate as Lender shall request If
<br />Lender has waived the option to acce'em% pmAded in this paragraph 17, and if Borrower's successor In interest has
<br />: executed a vir,ritten assumption agree -rent ac epted in writirg, by Lerder, Lender shalt refuse Borrower from all obligations
<br />under this Geed of Trust and the Note.
<br />If Lendea•exercises such option to accelerate,' Lender shat mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shalt provide a W, iod of not less than 30 days from the date the notice is mailed within which.,
<br />Borrower may pay the sums declared due. If Boiiower fails to Pay, sudhsumt; prior to the expiration of such period. Lender
<br />i:nay, without further notice or demand on Borrower, invoke any.•emedipstaeirnitted by paragraph 18 hereof.
<br />NON - UNIFORM COVENANTS. borrower and Lender further covenant and agree ds follows:
<br />19. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upch W, rrawer's breach of any coo r;rtant or
<br />agceemert of Borrower in this Deed of Trust, including the covenants to pay whendueany sums secured by this DeedofTrust,
<br />Lende
<br />er, prior to acceleration shall mail notice tc Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the
<br />acVbi-%required to cure such breach; (3) a date, regress than 30 daysfrom thedate the notice is mailed to Borrower, by which
<br />..such bleach must be cured; and (4) that failure to cure such breach or. or before the date specified in the notice may result In
<br />accelertton of the sums secured bythis Deed of Trustand sale of the Property. The notice shall further inform Borra*er of the
<br />right to reinstate after acceleration and the right to bring a court action to assert the non - existence of a default orr. y other
<br />defense of Borrower to acceleration and sale. If the breach is not cured on or before the date specified in
<br />the notice, Lender at
<br />Lender's caption may declare all of the sums secured by this Deed of Trust to be immediately due and payable withotA further
<br />dem".'and may invoke the power of sale and any other remedies
<br />permitted by applicable law. Lender shall be ecsfitled to
<br />mlii:lal! reasonable costs and expenses incurred in pursuing the remedies provided in the paragraph 18, including, but not
<br />iimlt dta, reasonable attorney's fees.
<br />• ' Iftfle power of sale Is invoked, Trustee shall record a notice of default in each county in which the Property or some part
<br />thereof is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and tothe other
<br />persons prescribed by applicable law. After the lapse of such time as may be required by applicable law. Trustee shall give
<br />public notice of sale to the persons and in the manner prescribed by applicable law. Trustee,
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<br />without demand on Borrower,
<br />shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice
<br />of sale in one or more parcels and in such order as Trustee may determine. Trustee may
<br />postpone sale of all or any parcel of
<br />the Property by public annouincement at the time and place of an %• previously scheduled sale. Leader or Lenders designee
<br />se
<br />may purcha the Property at any sale. g
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property sold.
<br />The recitals in the T►ustee'sdeed shall be prima facieevidence of thetruth of the statements made therein. Trustee
<br />r
<br />shall apply
<br />the proceeds of the sale in the following order. (a) to all reasonable costs and expenses of the sale. including, but not limited to,
<br />L Trustee's two of not more than %of the gross sale price, reasonable attorney's feesand costs of title evidence;
<br />(b) to all sums secured by this Deed of Trust; and (c) the excess, if any, to the person or persons legally entitled thereto.
<br />sr
<br />19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Deed of Trust
<br />Borrower shall havethe rightto have any proceedings begun by Lender to enforcethe Deed of Trust discontinued of any time
<br />prior to the eartier to occur of (i) the fifth day beforethe sale of the Property pursuant to the power of safe contained in the Deed
<br />of Trust (if) entry of a judgment enforcing this Deed of Trust if: (a) Borrower pays Lender all sums which would be then due
<br />r. ,
<br />it
<br />under this Deed of Trust, the Note and notes securing Future Advances, if any, had no acceleration occured:(b) Borrower
<br />cures all breaches of any other covenants or agreements of Borrower contained in this Deed of Trust (c) Borrower pays all
<br />r/ "
<br />reasonable expenses incurred by Lender and Trustee enforcing the covenants and agreements of Borrowe, contained in this
<br />Deed of Trust and in enforcing Lender's ano Trustee's remedies as provided in hereof. limited
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<br />paragraph 18 i ncludir, but not
<br />to. reasonable, fees. and (d) Borrower takes such action as Lender may reasonably require to as,,ore that the hen of
<br />this Deed of Tr rst Lender s interest rn they Property and Borrowers obligation to pay fhE c-LOW, SeCured t+, 'h need of Trust
<br />shall continue urnmparrpo upor, . such p;rymont and Cure by Bono rt:Hr
<br />shall remain ir, fu i furCe and F,tfc :cr as it ro ar•.c,eleratron had Jf.corrud
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