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- � � � 99 106301
<br /> 6. Preservxtion and Maintenance of Property;Leaseholds;Condominiums;Planned Unit Developments.Borrower shall keep the Property in good
<br /> repair and shall not commit waste or permit impairment or deterioration of the Property and shall comply with the provisions of any lease if this Deed of Trust is
<br /> on a leasehold.If this Deed of 7'rust is on a unit in a condominium or a p;anned unit development,Borrower shall perform all of Borrower's obligations under the
<br /> declaration or covenants creating or governing the condominium or planned unit development,the by-laws and regulations of the condominium or planned unit
<br /> development,and constituent documents.
<br /> 7. Protection of Lender's Security.If Borrower fails to perform the covenants and agreements contained in this Deed of Trust,or if any action or
<br /> proceeding is commenced which materially affects Lender's interest in the Property,then Lender,at Lender's option,upon notice to Bo�rower, may make such
<br /> appearances,disburse such sums,including reasonable attorneys'fees,and take such action as is necessary to protect Lender's interest.If Lender required
<br /> mortgage insurance as a condition of making the loan secured by this Deed of Trust,Bottower shall pay the premiums required to maintain such insurance in
<br /> effect until such time as the requirement for such insurance terminates in accordance with Borrower's and Lender's written agreement or applicable law. Any
<br /> amounts disbursed by Lender pursuant to this paragraph 7,with interest thereon,at the Note rate,shall become additional indebtedness of Borrower secured
<br /> hereby.Unless Borrower and Lender agree to other terms of payment,such amounts shall be payable upon notice from L,ender to Borrower requesting payment
<br /> thereo£Nothing contained in this paragraph 7 shall require Lender to incur any expense or take any action hereunder.
<br /> 8. Inspection.Lender may make or cause to be made reasonable entries upon and inspections of the Property,provided that Lender shall give Borrower
<br /> notice prior to any such inspection specifying reasonable cause therefor related to Lender's interest in the Property.
<br /> 9. Condemnstion.l'he proceeds of any award or claim for damages,direct or consequential,in connection with any condemnation or other taking of the
<br /> Property,or part thereof,or for conveyance in lieu of condemnarion,are hereby assigned and shall be paid to Lender,subject to the terms of any mortgage,deed
<br /> of trust or other security agreement with a lien which has priority hereover.
<br /> 10. Borrower Not Released;Forbearance By Lender Not a Waiver.Extension of the time for payment or modification of amortization of the sums
<br /> secured by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release,in any manner,the liability of the original
<br /> Borrower and Borrower's successors in interest.Lender shall not be required to commence proceedings against such successor or refuse to extend time for pay-
<br /> ment or otherwise modify amoriization of the sums secured hereby by reason of any demand made by the original Borrower and Borrower's successors in
<br /> interest.Any forbearance by Lender in exercising any right or remedy hereunder,or otherwise afforded by ap�licabte law,shall not be s waiver of or preclude the
<br /> exercise of any right or remedy.
<br /> 11. Successors and Assigns Bound;Joint and Several Liability;Co-signers.The covenanu and agreements herein contained shall bind,and the rights
<br /> hereunder shall inure to,the respective successors and assigns of L.ender and Borrower,subject to the provisions of paragraph 16 hereof.All covenants and
<br /> agreements of Borrower shall be joint and several.Any Borrower who co-signs this Deed of Trust,but does not execute the Note,(a)is co-signing this Deed of
<br /> Trust only to grant and convey that Borrower's interest in the Property to Trustee under the tern�s hereunder,(b)is not personally liable on the Note or under this
<br /> Deed of Trust,and(c)agrees that Lender and any other Borrower hereunder may agree to extend,modify,forbear,or make other accommodations with regard to
<br /> the terms of this Deed of Trust or the Note,without that Borrower's consent and without releasing that Borrower or modifying this Deed of Trust as to that
<br /> Borrower's interest in the Property.
<br /> 12. Notice.Except for any notice required under applicable law to be given in another manner,(a)any notice to Borrower provided for in this Deed of Trust
<br /> shall be given by delivering it or by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address as Borrower
<br /> may designate by notice to Lender as provided herein,and(b)any notice to Lender shall be given by certified mail to Lender's address stated herein or to such
<br /> other address as Lender may designate by notice to Borrower as provided herein.Any notice provided for in this Deed of Trust shall be deemed to have been
<br /> given to Borrower or Lender when given in the manner designated herein.
<br /> 13. Governing Law;Severability.The state and local laws applicable to this Deed of Trust shall be the laws of the jurisdiction in which the Property is
<br /> located.l'he foregoing sentence shall not limit the applicability of federal law to this Deed of Trust.In the event that any provision or clause of this Deed of
<br /> Trust or the Note conflicts with applicable law,such conflict shall not affect other provisions of this Deed of Trust or the Note which can be given effect without
<br /> the conflicting provision,and to this end the provisions of this Deed of Trust and the Note are declared to be severable.As used herein,"costs,""expenses"and
<br /> "attomeys'fees"include all sums to the extent not prohibited by applicable law or limited herein.
<br /> 14. Borrower's Copy.Borrower shall be furnished a copy of the Note and Deed of Trust at the time of execution hereof.
<br /> 15. Rehabilitation Loan Agreement.Borrower shall fulfill all of Borrower's obligations under any home rehabilitadon,improvement,repair or other
<br /> loan agreement which Borrower enters into with I.ender.L,ender,at I.ender's option,may require Borrower to execute and deliver to Lender,in a form acceptable
<br /> to Lender,an assignment of any rights,claims or defenses which Borrower may have against parties who supply labor,materials or services in connection with
<br /> improvements made to the Property.
<br /> 16. Transfer of the Property or a Beneficial Interest in Borrower.If all or any part of the Property or any interest in it is sold or transferred(or if a
<br /> beneficial interest in Borrower is sold or transferred and Borrower is not a natural person)without Lender's prior written consent,Lender may,at its option,
<br /> require immediate payment in full of all sums secured by this Deed of Trust.However,this option shall not be exercised by Lender if exercise is prohibited by
<br /> federal law as of the date of this Deed of Trust. If Lender exercises this option,Lender shall give Borrower notice of acceleration.The notice shall provide a
<br /> period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Deed of Trust.[f
<br /> Boirower fails to pay these sums prior to the expiration of this period,L,ender may invoke any remedies permitted by this Deed of Trust without further notice or
<br /> demand on Borrower.
<br /> NON-UNIFORM COVENANTS.Borrower and Lender further covenant and agree as follows:
<br /> 17.Acceleration;Remedies.Except as provided in paragraph 16 hereof,upon Borrower's breach of any covenant or agreement of Borrower in this Deed of
<br /> Trust,including Borrower's failure to pay,by the end of 10 calendar days after they are due,any sums secured by this Deed of Trust,Lender prior to acceleration
<br /> shall give notice to Borrower as provided in paragraph 12 hereof specifying:(1)the breach;(2)the action required to cure such breach;(3)a date,not less than
<br /> 20 days from the date the notice is mailed to Borrower,by which such breach must be cured;and(4)that failure to cure such breach on or before the date
<br /> specified in the notice may result in acceleration of the sums secured by this Deed of Trust and sale of the Property.The notice shall further inform Borrower of
<br /> the right to reinstate after acceleration and the right to bring a court action to assert the nonexistence of a default or any other defense of Borrower to acceleration
<br /> and sale.If the breach is not cured on or before the date specified in the notice,Lender,at Lender's option,may declare all of the sums secured by this Deed of
<br /> Trust to be immediately due and payable without further demand and may invoke the power of sale and any other remedies permitted by applicable law.Lender
<br /> shall be entitled to collect all reasonable costs and expenses incurred in pursuing the remedies provideu in this paragraph 17,includinb,but not limited to,
<br /> reasonable attorneys'fees. If the power of sale is invoked,Trustee shall record a notice of default in each county in which the Property or some part thereof is
<br /> located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the other persons prescribed by applicable law.After
<br /> the lapse of such time as may be required by applicable law,Trustee shall give public notice of sale to the persons and in the manner prescribed by applicable
<br /> law.Trustee,without demand on Borrower,shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in
<br /> the notice of sale in one or more parcels and in such order as Trustee may determine.Trustee may postpone sale of all or any parcel of the Property by public
<br /> announcement at the time and place of any previously scheduled sale.Lender or Lender's designee may purchase the Property at any sale. Upon receipt of
<br /> payment of the price bid,Trustee shall deliver to the purchaser Trustee's deed conveying the Property sold.The recitals in the Trustee's deed shall be prima facie
<br /> evidence of the truth of the statements made therein.Trustee shall apply the proceeds of the sale in the following order:(a)to all reasonable costs and expenses
<br /> of the sale,including,but not limited to,Trustee's fees actually incuaed of not more than 5%of the gross sale price,reasonable attorneys'fees and costs of title
<br /> evidence;(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 /> 18.Borrower's Right to Reinstate.Notwithstanding Lender's acceleration of the sums secured by this Deed of Trust,due to Borrower's breach,Borrower shall
<br /> have the right to have an roc mgs be nder to enforce this Deed of Trust discontinued at any time prior to the earlier to occur of(i)the fifth day
<br /> Bottower(s)initials��r�.
<br /> EFC 2/99 Form:D-4-NE PAGE 2 of 3
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