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202206489
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Last modified
9/6/2022 3:45:39 PM
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9/6/2022 3:44:42 PM
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DEEDS
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202206489
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202206489 <br />interest in the Property or rights under this Trust. <br />e. if a lien is registered against the Property, or if default occurs under any other lien or <br />encumbrance existing against the Property; <br />f. The Borrower abandons or fails to occupy the Property. <br />g. The Property or any material part of the Property is expropriated. <br />15. ACCELERATION. If at any time the Borrower should be in default under this Trust, the <br />Lender must give notice to the Borrower. The notice must specify: (a) the default; (b) the action <br />required to cure the default (if allowable); (c) a date, not less than 30 days from the date of the <br />notice, by which the default must be cured; and (d) that failure to cure the default on or before the <br />date specified in the notice may result in acceleration of the sums secured by this Trust and sale of <br />the Property. If the default is not curable and/or if the default is not cured on or before the date <br />specified in the notice, the Lender at its option may require immediate payment in full of all sums, <br />including the Principal Amount, interest, and all other amounts secured by this Trust. If the default <br />is cured, the Trust will be reinstated. If the default is not cured, the Lender may invoke the power <br />of sale and begin foreclosure proceedings. <br />The Lender will at all times retain the right to require immediate payment in full in the event of <br />default. Any forbearance on the part of the Lender upon default, which includes but is not limited <br />to acceptance of late payment, acceptance of payment from third parties, or acceptance of <br />payments less than the amount due, will not constitute a waiver to enforce acceleration on default. <br />16. PROTECTION OF LENDER'S INTEREST. If at any time the Borrower fails to perform <br />the covenants and agreements under this Trust, or if there is a legal proceeding that significantly <br />affects the Lender's interest in the Property, or if the Borrower has abandoned the Property, then <br />the Lender may do and pay for whatever is reasonable or appropriate to protect the Lender's <br />interest in the Property and/or rights under this Trust, which includes, but is not limited to: <br />a. Paying any sums secured by a lien which has priority over this Trust; <br />b. Appearing in court; <br />c. Paying reasonable attorneys' fees to protect its interest in the Property and/or rights <br />under this Trust; and <br />d. Paying for reasonable costs to repair and maintain the Property. <br />The Lender will at all times retain the right to take action under this Section. However, the Lender <br />does not have to do so and is not under any duty or obligation to do so. It is agreed that the <br />Lender will not incur any liability for not taking any or all actions to perform such tasks. <br />Furthermore, any amounts paid by the Lender will become additional debt of the Borrower <br />secured by this Trust. <br />
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