|
89-tl 103447
<br />N. Cendatenatlen. The proceeds of any award or claim for dnm.Ves, direct or consequential. in connection with any
<br />Condemnation or other taking of the Property, or part thertzot, car t� +r C0rtgaeyattcs in Ihu o1 coxn(lernnation, are hereby smigned
<br />and shall be paid to Lander.
<br />In the event of a total taking of the Property, the prc*ce*cds shall tae N*4d to the Wmf secured by this Deed of Trust, with
<br />thoexcess, it any, paid to Borrower . In the eYvent of a partial hrh l cfiEt'ta Rroperry. unless Borrower and Lando otherwise
<br />aline in writing, there shall be applied to the sums securedby Ihis CteklStof Ttust such proportion of the proceeds as 16 equal 10
<br />filet prppprtion which the amount of the sums secured by Wa DoW of Trust immediatsty prior to Me date of taking bears to"
<br />fair market value of the propwV immediately prior to thte date cif tuhln with the balsncq of the proceeds paid to Borrower.
<br />It the Property is abandoned by Borrower, or if, after nofidae b7 Lender to Borrower thf►t the condemnor offers to make an
<br />award or settle a claim for dismages, Borrower fails to respond to Lender within 30 days tattier the data such notice is mailed.
<br />Lender is authorized to collect and apply the proceeds, at L~$ 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.sppllcation of procoodsto principal shalt notextend or
<br />postpone the due date of the monthly installments referred to In paragraphs 1 and 2 heraol or change the amount of such
<br />instellrnarfts.
<br />10. Borrower N lQ else" Extensionofthetimeforpaymsrtormodificationofamortizationofthesumssecuredbythis
<br />Deed of Trust grooNd by Lender to any successor in intersst of Borrower shall not operate to release, In any manner. the
<br />(ioKVotthe otokWBorrowerand Borrower's successors inter" t Lender shal l not berequiredlecommenceProceedings
<br />sgaiimt such sucvoaviox or refuse to extend time for psymwret or odwwise modify amortization of the sums Wuted by this
<br />Deer) e,3 : runt by reason Of any demand made by the original LAarrower and Borrower's successors in Interest.
<br />11. Fla, isaftwo by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy 00.Mnder. of
<br />otherwise alfor*rd by applicable law, shall not bey a waiver afi or. prer,*ude the exercise of any such right or romedy.The
<br />procurement oflt swanceof the payment of taxes orotherliensorcharglesbyLendershall not be* waiver ofLendoesr llo
<br />accelerate the moll city of the indebtedness secured by this Deed of Trust
<br />It Remedies Ctrmialive Alt remedies provided le. this Deed of Trust are distinct and cumulative to any other right or
<br />remedy under this Deed of Trust or afforded by law or eg4ity, and may be exercised concurrently, independently or
<br />successively.
<br />13. Sucaeesors and Amgen Bound: Joint and Sevarat LiabNftyz Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure it% the respect :ve successors and assigos of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. The
<br />capticpu and headings of the paragraphs of this Reed Ot.Trust are for conveniences only and ere notto be used to intarpretor
<br />diefie* free provisions hereof.
<br />pit. Ns"w FxceptIm any notice requiredunder applicable law to be given in another manner, (a) any noticebaBorrower
<br />provided for in try Doodof Trustshallbe• Biuenbymailingsuchnoticeby} certifiedmailaddressedtoBorrowerattheProperty
<br />Address or at sleeksoteur address as Burrower may designate by note* to Lender as provids0fier:e1n, and (b) any nok*.Ia
<br />lender shall be given by certified mail, return.receipt requested, to LendvWsaddrsss stated hoteinarto such other addressat
<br />Lender may designate by notice to Borrower as provided herein. Any notice provided for In this Deedot Trust shall be downed
<br />to have been given to Borrower or Lender when given in the manner designated therein. • .
<br />1f). UsMwrm Owed of Twat Goveraiag Law; Save rNNMy. The form of deed oft trust cotrlbii a uniform covenants for
<br />ir•lwiil V+.v w n :w .................�....uw I:.w7ir.i ....tai• n. A- �.rirAfl:Hnti fn rARatitf.to a_trit,.fe_tr *&P.11[ _ it1f1e1trurrNnt
<br />covering real pro; it ft. Thi*.Qpwd of Trust shah be governed by the law of the Jurisdiction in wtR: h tt� Property �s Iocaled. thou
<br />the event that airy; *ovfy��pprnt or Cletus of this Wad of Trust or the Note: conflicts with applicable Psmi such conflict shall not
<br />ailedraatworowisAnsotl Giedtafthudor; fha Note which can be given effect without the conflicting •provisit,pes,endtothis
<br />end lire provisions 61 1p16 lyd.Of rat and iihw New are declared to be severable.
<br />1411. Mne's-m- tCepy. Borrower shall be furnished a ,,,unformed copy of the Note and of this Deed of Trust at the time of
<br />execution or after recordation hereof.
<br />17. Trapolor at Ow AaeumpNon. It all or any part of the pr,(u'perty or an interest thereon is sold or transferred by
<br />Borrower without Lender's prior written consent, excluding (a) the cries.%,on of alien or encumbrance subordinste to this D*W
<br />of TrusL( b) the creationofa purchase money security interestforhousafWdapplianced ,(c)atrartsfsrbpyydeviswdwsceird xby
<br />operation of law upon the doolh of s pint tenant or (d) the grant of any leesehold irtimist of thir*e ywere or)ess not containing an
<br />option topurchase, Lender may. at Lender's option, declarooll the sums secured by this Deed of Trust to be immediataly due
<br />OW payable. LwWw shall have waived such option to accelerate if. prior to the sale or transfer,• Lender and the person to
<br />whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is so--- Cory to
<br />Lender and that" interestpayabte on the sums secured by this Deeedof Trust shall be at such r0eas Lender shall request If
<br />Lender has waived the option to accelerate provided in this paragraph 17, and if 13onoweex successor in inlwrest has
<br />executed a written assumption agreement accepted in writing by Larder, Lender shall release Borrower from all obligations
<br />under this Deed of Trust and the Note.
<br />If Lender exercises such option to accelerate. Lender shall mail Borrower notion of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 30daysfroml edatethenoticeismailedwithinwh ich
<br />Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period. Lender
<br />may, without further notice or demand on Borrower. invoke any remedies permitted by paragraph 18 hereof.
<br />NON - UNIFORM COVENANTS. Borrower and Lender fuller covenant and agree as %Mows:
<br />19. Acco1ws i*a: Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agrees ient of Borrower sn this Deed of Trust. including the covenants to pay when due any sums secured by this Deed of Trust
<br />Lender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the
<br />action required to cure, less Own broach; (3) a date, not l than 30 days from the date the notice is mailed to Borrower, by which
<br />such breach mustbe cured; and (4) that failureto cure such breach on ai before the date specified In the notice may result in
<br />acceleration of thesums securedby thus Deed of Trustand sate of the Property. The notice shall furt1w inform Borrowerof the
<br />right to reinstate after acceleration ona the right to brfity.a court action to assert the non - existence of s defaufl Of any fitticsr
<br />defense of Borrower 60 acceleration and salt. Me breach is not cured on or before the date specified in the notice, Lender at
<br />Lender's option may declare all of the sums secured by this Deed of Trust to be immediately due and payable without further
<br />demand and may invoke the power of sale-and any other remedies permitted by applicable law. Lender shall be entitled to
<br />collect all nasonstse costs and expenses incurred in pursuing the remedies provided in the paragraph 18. including, butnot
<br />limited to. reasonable s fees.
<br />"me power of safe is invoked. Trusts* shall record s notice of dolau it to each county i n which the Property or some part
<br />ttleerwof is locaesd and shelf mail copies of such notice in the manner prescribed by applicable law to Borrower and to theother
<br />persons prescribed by applicable law. After the tapes of such time as may be required by appficsbre law. Trustee shah give
<br />public notice M a" to Ow persons and in the manner proscribed by applicable law. Trustee. without demand on Borrower.
<br />shall *01 the Property at public auction to Me highestbiddwatOwtime and place and under the terms designated in the notice
<br />of solo ir•. one or mire parc;e:ri and in such order a* Tru=e rnrr dctsrm t ie. Tfus :Wily = =pore rm a of M or any parrei of
<br />the Property by public armour cement at the time ar,d place of any previously scheduled sale. Lender or Lender's designee
<br />neey purchase the Property at any seta.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveyingthe Property sold
<br />The recitals in the Trr uetae's deed WWI be prima facie evidence of the truth of the statements me& therein. Trustee shal I apply
<br />the proceed* of the*alw in the following order. (a) to *9 reasonable costsand expenses of thesale. including, butnot finsted to.
<br />Trustee's fees d not more than . %of the gross sale price, reasonable attorney's has and costs of MM evidence.
<br />(b) to all sums secured by this Deed of Trust: and (c) the excess. it any. to the person or persons legally en~ their eto.
<br />11f. i*rrwrwr'* RIgAt M 11e8tteteM. Notwithstanding Lenders acceleration of the sums secured by this Dead of trust.
<br />Borrower shall have the right so hew any procaodings bsgu n by Lender to enforce the Deed of Trust discontinued at any time
<br />peen to the earlier to occur of (i) free fifth clay before the sal* O! the Prop" pursuant to the power of save contai ned in the Deed
<br />of Trust lilt entry of a iudgment enforcing this Deed of Trust if (a) Borrower pays lender all sums which would be then due
<br />undw elite Deed of Trust. the Nole and notr*S securing future Advances, of any, had no accete!ration occured (b) Borrower
<br />curses C4 bfeaches of any other Covenants or agreements of Borrooier contained in ft-.,s Deed of Trust io: forrower pays all
<br />•eascrnable, expenses incurred by Lefider and Trustee enforcing the covennotsand agreements of gorro-,&v- r-unt:uned Ir rti, s
<br />D"dutTrrastty : :p to eid o%i ngLerdet -_ and Trustee's remediesasprow Jed+nparagraph 18hereof nr.I,,a +'rr r).1fell!r :nt.!etf
<br />?'J SeasY,rt3*i.eC ^;yt +'E3�f:iC°S
<br />anti fdiDjetGket takes s :acnact.!inanLf,'. dorm 3vre3sn_natlyreou+reloass,,i '!holi°ipl:dr<tof
<br />Yt; ; t")eed tit Tr ;' t Crt1Qr ^tEregt to thQ Prppett/ ettd li 3trt)rvf_r S Uh :. :jet U" t� CJy info c .:'r' :�L urt' t ht H -. l�£'C'9 Ct Tll + "t
<br />rrd "I.s C•• •1.11 r . • l•l .,c+.7 rte .t t
<br />St 3i rer�ta r+ + 'i.+ r h,ttA ;11 !1 Ctir *Lt U7 rf r) tt�( G'eyal. ,n Ft ;•j;.t . r +i; :i
<br />
|