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20000685,
<br />11. Successors and Assigns Bound; Joint and Several Liability; Co- signers. The covenants and agreements
<br />herein contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and
<br />Borrower, subject to the provisions of paragraph 16 hereof. All covenants and agreements of Borrower shall be joint and
<br />several. Any Borrower who co -signs this Deed of Trust, but does not execute the Note, (a) is co- signing this Deed of Trust
<br />only to grant and convey that Borrower's interest in the Property to Trustee under the terms of this Deed of Trust, (b) is not
<br />personally liable on the Note or under this Deed of Trust, and (c) agrees that Lender and any other Borrower hereunder may
<br />agree to extend, modify, forbear, or make any other accommodations with regard to the terms of this Deed of Trust or the
<br />Note, without that Borrowers consent and without releasing that Borrower or modifying this Deed of Trust as to that
<br />Borrowers interest in the Property.
<br />12. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Deed of Trust shall be given by delivering it or by mailing such notice by certified mail
<br />addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to Lender as
<br />provided herein, and (b) any notice to Lender shall be given by certified mail to Lender's address stated herein or to such
<br />other address as Lender may designate by notice to Borrower as provided herein. Any notice provided in this Deed of Trust
<br />shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />13. Governing Law; Severability. The state and local laws applicable to this Deed of Trust shall be the laws of
<br />the jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of Federal law to
<br />this Deed of Trust. In the event that any provision or clause of this Deed of Trust or the Note conflicts with applicable law,
<br />such conflict shall not affect other provisions of this Deed of Trust or the Note which can be given effect without the
<br />conflicting provision, and to this end the provisions of this Deed of Trust and the Note are declared to be severable. As used
<br />herein, "costs ", "expenses" and "attorneys' fees" include all sums to the extent not prohibited by applicable law or limited
<br />herein.
<br />14. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Deed of Trust at the
<br />time of execution or after recordation hereof.
<br />15. Rehabilitation Loan Agreement. Borrower shall fulfill all of Borrower's obligations under any home
<br />rehabilitation, improvement, repair, or other loan agreement which Borrower enters into with Lender. Lender, at Lender's
<br />option, may require Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment of any rights,
<br />claims or Aefenses which Borrower may have against parties who supply labor, materials or services in connection with
<br />improvements made to the Property.
<br />16. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural
<br />person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums
<br />secured by this Deed of Trust. However, this option shall not be exercised by Lender if exercise is prohibited by federal law
<br />as of the date of this Deed of Trust.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a
<br />period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums
<br />secured by this Deed of Trust. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke
<br />any remedies permitted by this Deed of Trust without further notice or demand on Borrower.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />17. Acceleration; Remedies. Except as provided in paragraph 16 hereof, upon Borrower's breach of any
<br />covenant or agreement of Borrower in this Deed of Trust, including Borrower's failure to pay, by the end of ten (10)
<br />calendar days after the date they are due, any sums secured by this Deed of Trust, Lender prior to acceleration shall
<br />give notice to Borrower as provided in paragraph 12 hereof specifying: (1) the breach; (2) the action required to cure
<br />such breach; (3) a date, not less than 30 days from the date the notice is mailed to Borrower, by which such breach
<br />must be cured; and (4) that failure to cure such breach on or before the date specified in the notice may result in
<br />acceleration of the sums secured by this Deed of Trust and sale of the Property. The notice shall further inform
<br />Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non - existence
<br />of a default or any other defense of Borrower to acceleration and sale. If the breach is not cured on or before the
<br />date specified in the notice, Lender, at Lender's option, may declare all of the sums secured by this Deed of Trust to
<br />be immediately due and payable without further demand and may invoke the power of sale and any other remedies
<br />permitted by applicable law. Lender shall be entitled to collect all costs and expenses incurred in pursuing the
<br />remedies provided in this paragraph 17 to the extent permitted by applicable law.
<br />If Lender invokes the power of sale, Lender or Trustee shall mail copies of a notice of sale in the manner
<br />prescribed by applicable law to Borrower and to the other persons prescribed by applicable law. Trustee shall give
<br />notice of sale by public advertisement for the time and in the manner prescribed by applicable law. Trustee, without
<br />demand on Borrower, shall sell the Property at public auction to the highest bidder for cash at the time and place
<br />and under the terms designated in the notice of sale in one or more parcels and in such order as Trustee may
<br />determine. Trustee may postpone sale of all or any parcel of the Property to any later time on the same date by
<br />public announcement at the time and place of any previously scheduled sale. Lender or Lender's designee may
<br />purchase the Property at any sale.
<br />Trustee shall deliver to the purchaser Trustee's deed conveying the Property so sold without any covenant or
<br />warranty, expressed or implied. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the
<br />statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all costs and
<br />expenses exercising the power of sale and of the sale, including Trustee's fees not exceeding 5% of the outstanding
<br />principal balance and attorneys' fees and costs of title evidence; (b) to all sums secured by this Deed of Trust; and (c)
<br />to the payment of junior Trust deeds, mortgages or other lienholders, and (d) the excess, if any, to the person or
<br />persons legally entitled thereto.
<br />Form 9719 NE (10/96) Paap 't of S
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