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<br />, �� habllitatbn LoAn AQreement. Borr�wer shell falfill all of Borrower's obligations urfder nny homc rchabilitation, .r;•:;,___
<br /> lA. Re
<br />- �, � improvement, repair or other loan agreement which Borrowcr enters into with Lcnder. Lendcr,at Lendcrs option, may �°c'�r:`
<br />-. �; � .;d;.'--'
<br /> rcquire Borrower ta execute snd deliver to Lender, in a form acceptuble to Lender,an sssignment of any righu,claims or
<br /> defenses which Borrower may have agains,parties who supply labor,mnterials or services in connection with improvements +,.,.
<br /> • mede to the Property• ��
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<br /> 1S. Trnnsler o(the Property or p&neflcial Interat In Borrawer,As�umptinn. If all or any part of the Propeny or any _
<br />;��w� interest in it[s sold or transferred(or if a beneflcial interest in Borrower is sold or transferred and Bortower is not a natural —
<br />='� person)withnut Lenders prior written consent,l,ender may,at Lender's option,for any reason,declare sli the sums secured
<br /> ` by this Deed of Trust to be immediately due a�id payable, Howevcr,this option shall not be exercised by l.ender if exercise !
<br />- � is prohibited by Federa!law as of the date of this Deed of Tn�st.
<br /> ' If Lender exercises thls option, Lender shall give 1BorroHer notice of aceeleration. 'I'he notice shall provide a psriod of
<br /> no�less than 30 days from ehe date the notice is delivered or mailed within which Borrower must pay all sums secured by
<br /> � this Deed of Tnut. If Bonower fails to pay in full these sums prior to the expiration of this period, L.ender may invoke
<br /> .- � any remedies permitted by this Deed of Trust without further notice or demand on Borrower.
<br />- This Deed of Trust may not be assamed by a purchaser withaut the I.ender's wnscnt. If an assumption is aUowed,the `
<br /> Lender may charge an assumption fx and requirc the person(s)assuming the loan to pay additional chuges as authoriud _
<br /> ' ', by law.
<br />��'
<br />. AR'I'iCLE II
<br />-.. -• � .
<br />�_ NON-UMFORM COVENAIYTS. Bflrrower and Lender funher covenant and agree as follows:
<br /> ± �•` 16. Accekrs�tlon;Remedies� Upon Ba'rower's breach ot pny cove�wnt or agreement of Borrower in thls Deed o[
<br /> -- -- �,t.^•cl::�:y�.l�^'=!�!mi�ption the coven�nts to pay when due ony swns under the Note secured by this Deed ot
<br />-. �� �" h � qy�, I,mder, at I.en�ler's option, subJect to the tolbwing sentence, may declare au o[ine swns s�xa�e++u�tts�
<br />�,...,. ,.�, '. � Deed o[1Yu�t to be 4nmediately due suid{wypble without demAnd or notke and mwy Invoke the power ot sale,wnd
<br />�.•�_:` pny other eanedia permitted by �pplicsd►le Is►w. Prior to recading any notice o[ default Lender shall give
<br />��•'��� � ` Borrower ndke of de[ouk�c requir�l by Is�w and,in the event ot a defoutt conststin8 on�Y o�Ba'r°wer's fpilure to
<br />-4''n•',�•,.�r� �ided 6 low, twve twenty (20) ds►ys wfter such notke is
<br /> �akr Q reqolrcd pYyment, Borrower shall a�ce, ws pru Y
<br />� �� given to cure such det�uit by tendering the amount due at the time ot the tender, wkhout AccelerAtlon� plus onY
<br />�'�:".,' ; ' �np�W ¢hw.�. ARer recording s� iatice o[default, Lender shall be entitled to coUect In such procee.�ling+►U
<br />;�-��• .�:� ,' but not Wnkcd to, rcstiSawbEe attorneys' fees or trustee's and casts of
<br />_ _- ,.,�.�,,„-' expenses oi forec{osurc, inciudin8:
<br /> I> •'� -. � documentary evidence,abetrpcts w�d tkle reports.
<br />'',-• '���N If the power of sale is invoked,Trustee shall record a nocice of default in each counry in which any pact of the Properry is
<br /> '"�'+�°��;,;_ �acateci and shall mail copies of such notice in the manne�Prescribed by applicable law to l3orrower and to the other
<br />'`'=`�"� '•'"� persons prescribed by applicable law. After the time requirod by applicable law, Trusta shall give public notice of sale
<br />"'i�;�,•: '�' to the persons and(n the manner prescribed by applicable law. 7'nuta. wi�hout demand on Borrower, shall sell thc
<br />;j�.^�';��'r. '` ' pcoperry at publie auetion to the highest bidder at the time and place and under the terms designated in the notice of sale
<br /> • in one or rnore parcels and in any order 'Crustee determines. Trustee may postpone sale of all or any parcel of the
<br />-� property by pubiic announcement at the tink and place of any previously scheduled sale. Lender of its designee may —
<br /> ' � ,� purclaase�he Properry at any sale.
<br />=-�s.a».. .. Trustec shall apply the sale procads,first, to thc costs and expen,es of cxercising the power of sale and of the sale, -
<br /> �-�.:..,, .
<br /> -- �m^• • including the payment of rhe Trustee's fees actually incurnd not to exceed itfteen percent(15%)of the gross sale price,
<br />=��'� -•.. second,ro payment uf the obligation�scured by this Deed of Trust,third,to the payment of junior tnut deeds, mortgages
<br /> • - or other lienholdcrs,and the balance, if any,ro the person or persons legally entitled thereto.
<br /> , '� 17, pssignment ot Ren1s; Appointment o(Receiver. As additional sccuriry here�nder, Borrower hereby assigns to �
<br /> ' �, Lender the rcnts of the Property, provided that Borrower shall, prior to acceleration w�der paragraph 16 hereof or _
<br /> f, abandonment of the Property,have the right ro collcct and retain such rents as they becomc d�r,and payable. �_
<br /> !"'::.
<br /> � Upon acceleration under paragraph 16 hereof or abandonment of the Property,Lendtr shall be entitled to have a receiver —
<br /> ' ' appointed by a eourt to enter upon, take possession of arxi manage the Pcoperry and to coUect d�e reuts of the Property
<br /> including those pa�t due. All renis collected by d�e receiver shall be applied first to payment of the costs of management
<br /> ` of the Propeny and collection of rents, including,but iwt limited to receiver's fecs, premiums on recciver's bonds and
<br /> reasonable attorneys' fees, and then to the sunis secured by this Decd of Trusc. The receivcr shall be liable to account
<br /> ___� only for thase rents actually received.
<br /> � lg, I,a�n Charges. If the loan sccured by this Deec1 of Trust is subject ro a law v�hich sets maximum loan charges, and
<br /> that law is fuially interpreted so thac the interest or odier loan chuges collected or to be colle�ted in cocuxction with ehe
<br /> loan exceed permitted limits, dien: (I) any such loan charges shall be reduced by the amount neceuary to reduce the
<br /> charge to tAe permitted limir ancl(2)any sums already colltcted from Borrower which exceeded permitted limits will be:
<br /> refwxicd to Borrowcr.
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