|
i
<br />■
<br />L
<br />89- 104997
<br />9. Condemnation, The proceeds of anpaward or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking cif the Propertyl or part thereof, odor conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />U the event of a total taking of the Propgity, the proceeds shall be applied to the sums secured by this Deed of Trust with
<br />the excess, if any, paid to Borrower, in W6 -event of a partial taking of the Property. unless Borrower and Lender otherwise
<br />agreeln writing, thereshall be applitid tathasuris securedby this aeedof Trus-tsuchproporbor oftheproceedsas is equalto
<br />thatproportirn which the amauntof -tire stets secur ed by ti ds Deed of Trustintmediatetyprior tufhe date of taking bears tothe
<br />fair market value of the property immedlatpiy prior to the data of taking, with the balance of the proceeds paid to Borrower.
<br />It the Property is abandoned by Serrniver, or i1, after notice by Lender to Borrower that the condemnaroffers to make an
<br />award or settle a claim for damages. Sarrower falls to respond to lender within 30 days after the date such notice is mailed,
<br />Lender is authorized to collect and appitithe proceeds, atLender's option, either to restoration orrepair of the Property or to
<br />the sums secured by this Deed of Trost:.
<br />Untess Lenderand Borroweretherpise agree in writing, any such application of proceedsto principal shall not extend or
<br />postpone the due date of the monthilt installments ref-arred to in paragraphs 1 and 2 hc-iaof or change the amount of such
<br />installments.
<br />10. BomolverNO ofthetimetor payment orrtiodi8cat'r tnofamortiationof the sumssecuredbythis
<br />Deed of Trust granted by Lender to any successor in interest of Sorrower she � not operate to releas% in any-manner, the
<br />liability of the eriginal Borrawet and Borrower's successors interest Lender shall not be rec,.:xed to commence proceedings
<br />against such successor or r4fuse to Wasrd time for payment or zMnerwlse modify amortizat�vn of the sums secured "is
<br />Deed of Trust by reason of any demands made by the original Bo* rawer and Borrower's su rs in; sorest.
<br />It. Forbearance by Lvider Not a `NFa!Yer. Any forbearance by. Lender in exercising any right or ., hereunder, or
<br />otherwise afforded by appRm t?e law. sl�a not be a waiver of or preclude Z'2 exercise of any such ::Q'ht or remedy. The
<br />procurement of insurance•osttCn pay meet ^f taxes or other liens or charges by Lertdar shall not be a waiver of Lender's rightto
<br />accelerate the maturity of the frn-'ebtedcresi secured by this Deed of Trust
<br />12. Remedies Curnirt'ative X[ rem.ed'4s provided in this Deed of Trust are diVdic! and cumulative to any other right or
<br />remedy under this Deed of Trcust or worded by law or equity, and may b�l ;e arcised concurrently, independently or,
<br />successively.
<br />13. Successors and Ass%r -s Sound; Joint and Several Liability; Csp2k-yrs`'The covenants and agreements herein
<br />contained shall bind, and the - - ^%I Is rereunder shall inure to, the respective surasssors and assignaof Lender and Borrower,
<br />subject to the provisions of paragrap 1,7 hereof. All covenants and agreements of Borrower shall be joint and several. The
<br />captions and headings of the paragr aphs9f this Deed ofTrustarefa -. convenience only and are nottobeusedtoimerpretor
<br />define the provisiont hereof.
<br />14. Noflce. Except for any rroticeregzired under applicable law tobegivenin another manner, (a)anfraticetoBorrower
<br />prcuided forin this Deed of Tr,:st shall be given by rnsifing such notice by cerr :gad mail addressed to Borrower atthe Property
<br />Address or at such other adz,rr :es Borrower may designate by notice to Lralmiar as provided herein, and (b) any notice to
<br />11 mdershallbegivenbycer, --- edm all, eelurmreceiptrequested, toLender' saddressstatedhereinortosuchotheraddressas
<br />Lendermaydesignate by nctiea to Bc- mrawaras provided herein. Any noticeprovided for in this Deed ofTrust shall bedeemed
<br />to have been given to Borrower or Lender when given in the manner designated herein.
<br />1S.. Uhitarm Dead of Tint Governing Law; Ssvorabiilty. The form of deed of trust combines uniform covenants for
<br />n refs eft= • ovQnants with limited variations by jurisdicticin ro constitute a uniform security instrument
<br />co" roefpr�t�yy T)trs Asti rust be
<br />shall governed by the law of the j,.:6sdiction in which the Property is located. In
<br />thtt! event that ltrrQi dvfslo�t 6r clause of this Deed of Trust oi• the Note conflicts with applicable law, such conflict_ shall not
<br />affect other pity Won s of this Deed of Trust orthe Note which can be given effect without the conflicting provisions, and tothis
<br />end the provWbris of the Deed of Trust and the Note are declared to be severable.
<br />IS. Borrow Ws Copy. Borrower shall be furnished a conformed copy of the Note and of this Deed of Trust atthe time of
<br />; Y
<br />=
<br />execution or after recordation hereof.
<br />17. Transfer of the Property; Assumption. If all t rainy part of the property or an interest therein is sold or transferred by
<br />Borrower without Lender's ;riorwritten consent, excluding (a) the creation of a lien or encumbrance subordinateto this Deed
<br />of Trust, (b) the creation of a purchase money security interest for household appliances, (c) 8 transfer by devise descent or by
<br />operation of law upon the death of a jointtenant or (d) the grant of any leasehold interest of t#:- eeyears or less not containing an
<br />option to purchase, Lender r, gay, at Lender's option, declare ail the sums secured by this Dew of Trustto be immediately due
<br />!
<br />and payable. Lender shall O. ve waived such option to accelerate if. prior to the sate or transfer. Lender and the person to
<br />whom the Property is to b! sold or transferred reach agreement in writing V%st the credit of such person is satisfactory to
<br />Lender and thatthe interest riayable on the sums secured by this Deed of Trust ,`gall be at sur.,'> rate as tender shall request if
<br />Lender has waived the option to accelerate provided in this pa.y j,raph 17, and if Bormwe's successor in interest has
<br />executed a writtt n assumption agreement accepted in writing ty 1aaro7er, Lender shall release Borrower from all obli *.tons
<br />under this Deed of Trust and the Note.
<br />If Lender exercises such option to accelerate, Lowder shah:— ail Borrower notice of accels m9O:a im accordance with
<br />paragraph 14 hereof. Such notice shall provide a per.cd'of not less titan 30 days from the date the notice is mailed within which
<br />Borrower may pay the sums declared due. If Borrower fails to pa,:, such sums prior to the expiration of such period. Lender
<br />may, without further notice or demand r, n Borrower, invoke ary rri- -edies permitted by Rar¢rgtaph 18 hereof.
<br />NON- UNIFORM COVENANTS. Samswer and Lender further covenant and agree as cd)'iows:
<br />111. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower in this Deed of Trust, including lte covenants to pay when due any sums secured by this Deed of Trust
<br />Lender priortoacceleraticrr•; tall mail notice to Bor, owcras provided in paragraph 14 hereof specifying: (1) the breaelx (2) the
<br />action required to cure st:els breach; (3) a date, not less than 30 days from the date
<br />the notice is mar'iedto Borrower, by which
<br />such breach muss: be cured; and (4) thatfailureto cure such breach on or before the date smilied in the notice may roWt In
<br />acceleration Otte sums secured by this Deed of Trustand sale of ills Property. The nc'ice shall further inform Borromo"of the
<br />right to reinstate after acceleration and the right to bring a court action to assert the nor. - existence of a dafault•or any other
<br />defense of Borrower to acceleration and sale. If the breach is not cured on or before tC3 date specified Ir, trig notice. Lender at
<br />Lender's option may declare all of the sums secured by this Deed of Trust to be immediately die and payable without further
<br />demand and may Invoke the power of sale and any other remedies permitted by apphcattd taw: Lender shalt be entitled to
<br />collect all reasonable costs and expenses incurred in pursuing the remedies provided it the paragraph 1 B. including, but not
<br />limited to, reasonable attorney's fees.
<br />if the
<br />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 o1 such notice in the manner prescribed by applicable law to Borrower and to the 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, without demand on Borrower,
<br />'
<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 sate in one or more parcels and in such order as Trustee may determine. Trustee may postpone sale of all or any
<br />parcel of
<br />the Property by public announcement at the time and place of any previously scheduled sale. Lender or Lender's designee
<br />may purchase the Property at any safe.
<br />Upon receipt o1 paymentofthe price Did, Trustee shall deliver to the purchaser Trustee's deed conveying the Property sold.
<br />The recitals in theTrustee's deed shall be prima facieevidence of the truth of the statements made therein.l'rusteeshalfapply
<br />the proceeds of the sale in the following order. (a)toall reasonable costsand expenses of thesale, including, but not limitedto,
<br />Trustee's fees of not more then % ofthe gross sale price. reasonable attorney's fees and 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 />1111. tlfofrower'lil Right to Reldsb te. Notwithstanding Lender's acceleration of the sums secured by this Deed of Trust.
<br />Borrower shall have the rightto have any proceedings begun by Lender to enforce the Deed of Trust discontinued at airy time
<br />prior to the earlier to occuref ti) the fifth day beforethesale of the Propertypursuant to the power of sale contained in the Deed
<br />of Trust (ii) entry of a judgment enforcing this Deed of Trust it: (a) Borrower pays Lender all sums which would be then due
<br />ti
<br />cO
<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 Borrower
<br />of contained in this Deed of Trust (c) Borrower pays all
<br />reasonable expenses incurred by Lender and Trustee enforcing the covenants and agreements of Borrower contained in this
<br />Deed of Trust and in enforcing Lenders and Trustee's remedies as provided in paragraph 18 hereof, including, but not limited
<br />to, reasonable attorney's fees; and (d) Borrower takes such action as Lender may reasonably require to assure that the lien of
<br />this Deed of Trust. Lender's interest in the Property and Borrower's obligation to pay the sums secured by this Deed of Trust
<br />shall continue unimpaired. Upon such paymentand cure by Borrower, this Deed of Trustand the obligations secured hereby
<br />shall remain in full force and effect as it no acceleration had occurred.
<br />
|