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200009760
<br />to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or
<br />escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser.
<br />If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a
<br />natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written
<br />consent, Lender may require immediate payment in full of all sums secured by this Security Instrument.
<br />However, this option shall not be exercised by Lender if such exercise is prohibited by federal law.
<br />If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide
<br />a period of not less than 30 days from the date the notice is given in accordance with Section 10 within
<br />which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these
<br />sums prior to the expiration of.this period, Lender may invoke any remedies by this Security Instrument
<br />without further notice or demand on Borrower.
<br />15. Default Acceleration; Remedies. If any, monthly installment under the Note is not paid when due, of
<br />if Borrower should be in default under any provision of this Deed of Trust, or if Borrower is in default under
<br />any other Deed of Trust or other instrument secured by the Property, the entire principal amount
<br />outstanding under the Note and this Deed of Trust and accrued interest thereon shall at once become due
<br />and payable at the option of Lender without prior notice and regardless of any prior forbearance. In such
<br />event, Lender, at its option, may then or thereafter deliver to the Trustee a written declaration of default
<br />and demand for sale and shall cause to be filed of record a written notice of default and of election to
<br />cause to be sold the Property. Lender shall also deposit with the Trustee this Deed of Trust and any
<br />Notes and all documents evidencing expenditure secured thereby. After the lapse of such time as then
<br />may be required by law following recordation of such notice of default, and notice of sale having been
<br />given as then required by law following recordation of such notice of default, that notice of sale having
<br />been given as then required by law, the Trustee, without demand on Borrower, shall sell the Property at
<br />the time and place specified by such Trustee in such notice of sale, or at the time to which such noticed
<br />sale has been duly postponed, at public auction to the highest bidder for cash in lawful money of the
<br />United States, payable at time of sale, except that Lender may offset his bid to the extent of the total
<br />amount owing to him under the Note and this Deed of Trust, including the Trustee's fees and expenses.
<br />The Trustee may sell the Property as a whole or in separate parcels if there is more than one parcel,
<br />subject to such rights as Borrower may have by law to direct the manner or order of sale, or by such other
<br />manner of sale which is authorized by law. The Trustee may postpone the time of sale of all or any
<br />portion of the Property by public declaration made by the Trustee at the time and place last appointed for
<br />sale.
<br />The Trustee shall deliver to such purchaser its deed conveying the Property so sold, but without any
<br />covenant or warranty, express or implied. The recital in such deed of any matters of fact shall be
<br />conclusive proof of the truthfulness thereof. Any person, including Borrower, the Trustee or Lender may
<br />purchase the Property at such sale. After deducting all costs, fees and expenses of the Trustee, and of
<br />this Deed of Trust, including costs of evidence of title in connection with such sale, the Trustee first shall
<br />apply the proceeds of sale to payment of all sums expended under the terms of this Deed of Trust, not
<br />then repaid, with accrued interest at the rate then payable under the Note or Notes secured thereby, and
<br />then to payment of all other sums secured thereby and, if thereafter there be any proceeds remaining,
<br />shall distribute then to the person or persons legally entitled thereto.
<br />16. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this
<br />Deed of Trust, Borrower shall have the right to have any proceedings begun by Lender to enforce this
<br />Deed of Trust discontinued if: (a) Borrower pays Lender all sums which would be then due under this
<br />Deed of Trust, this Note and Notes securing Future Advances, if any, had no acceleration occurred; (b)
<br />Borrower cures all breaches of any other covenants or agreements of Borrower contained in this Deed of
<br />Trust; (c) Borrower pays all reasonable expenses incurred by Lender and Trustee in enforcing the
<br />covenants and agreements of Borrower contained in this Deed of Trust, and in enforcing Lender's and
<br />Trustee's remedies as provided in Paragraph 15 hereof, including, but not limited to, reasonable
<br />attorneys' fees; and (d) Borrower takes such action, as Lender may reasonably require to assure that the
<br />lien of this Deed of Trust, Lender's interest in the Property and Borrower's obligation to pay the sums
<br />secured by this Deed of Trust shall continue unimpaired. Upon such payment and cure by Borrower, this
<br />Deed of Trust and the obligations secured hereby shall remain in full force and effect as if no acceleration
<br />had occurred.
<br />17. Assignment of Rents; Appointment of Receiver. As additional security hereunder, Borrower
<br />hereby assigns to Lender the rents of the Property, provided that so long as Borrower is not in default
<br />hereunder, Borrower shall have the right to collect and retain such rents as they become due and
<br />payable.
<br />Upon Borrower's default or abandonment of the Property, Lender, in person or by agent, shall be entitled
<br />to collect all rents directly from the payors thereof, or have a receiver appointed by a court to enter upon,
<br />take possession of and manage the Property and to collect the rents of the Property including those past
<br />due. All rents collected by the receiver shall be applied first to payment of the costs of management of the
<br />Property and collection of rents, including, but not limited to receiver's fees, premiums on receiver's bonds
<br />and reasonable attorneys' fees, and then to the sums secured by this Deed of Trust. The receiver shall
<br />be liable to account only for those rents actually received.
<br />NE Deed of Trust Page 4 Loan Number: 173 8881220805/0006673550
<br />230792 nedeed (Rev 08, 9 -00)
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