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99 107�� 42
<br /> SA�LTL ENGLES VANESSA ENGLES 102715 07/27/1999
<br /> ,_ � 9. Condemnation. The proceeds of any award or claim for damages, direct or conseyuential, in counectiou with any
<br /> co�ide►n��ation or other taking of the Property, or part thereof, or for coirveyance in lieu of conde�T�natio�i, are liereby
<br /> assigned and shall he paid to Lei�der, subject to tl�e terms of any mortgage, deed of trust c�r other security abreement with a
<br /> lien which has pric�rity over tl�is Deed oti Trust.
<br /> ]0. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time fc�r �ayment or
<br /> modification of am��rtization of tl�e suais secured hy this Deed of Trust granted hy Lender to auy successor i❑ interest of
<br /> Borrower shall not c�perate to release, iu any niauner, the liahility of the origival B<>rrower and Borrower's successors in
<br /> interest. Lender shall not he required to cot��mence pro�eedings agaiust such successor c�r refuse to extend time for nayment
<br /> or c�therwise mudify a�nortization ��f tl�e tiurns secured hy this Deed of Trust by reason of any demand made hy tl�e ori�inal
<br /> Borrower ai�d Borrower's successors in interest. Any forbearauce by Lender ii� exercising any right or remedy hereunder,
<br /> or otherwise afforded hy applicable law, sl�all not be a waiver of or preclude the exercise of any such right or remedy.
<br /> 11. Successors and Assigns Bouncl; Joint and Severat Liability; Co-signers. The covenants aud agreements l�erein
<br /> containec�sl�all bind, and tl�e riahts hereunder shall iuure to, the respective successors and assigns of Lender and Borrower,
<br /> suhject to the provisions of paragraph l6 hereof. All covenauts and agreements of Borrower shall be joint and several.
<br /> Any Borrower who co-sibns this Deed of Trust, but d<�es not execute the Note, (a) is co-signiug this Deed of Trust only to
<br /> grant a��d convey that Borrower's interest in the Property to Trustee under the terms of this Deed of Trust, (b) is not
<br /> personally liable on the Note ur under this Deed of Trust, and (c) agrees tl�at Leuder and any other Borrower l�ereunder
<br /> may agree tc�extend, modify, forhear, or make any other accommodations with regard to the terms of tl�is Deed of Trust or
<br /> tl�e Note, without that Borrower's cousent and without releasing ti�at Borrower <�r modifyinb this Deed of Trust as tu that
<br /> B<�rrower's interest iu tl�e Properry.
<br /> 12. Notice. Except for any notice required under applicable law to be given in anotl�er maimer, (a) any notice to
<br /> Borrc�wer provided for iu this Deed ��f Trust shall be �iveu by delivering it or by mailing such notice hy certified mail
<br /> addressed to Bc�rrower at the Property Address or at such other address as Borrower may desi�nate hy notice to Lender as
<br /> provided lierein, and (b) any uotice to Lender shall be given hy certified mail to Lender's address stated herein or to such
<br /> other address as Lei�der may designate hy notice to Borrower as provided herein. Any i�otice provided for in this Deed of
<br /> Trust sl�all he deeit�ed to l�ave been given to Borrower or Leuder when�iven in tlie mauner desi;nated herein.
<br /> 13. Governing Law; Severability. Tl�e state and local laws applicable to this Deed of Trust shall he the laws of the
<br /> jurisdiction in wliich the Prc�perty is located. The foregoin� sentence sl�all i�ot limit the applicahility of Federal law to tl�is
<br /> Deed of Trust. In tl�e eveut tl�at any provision or clause c�f this Deed of Trust or tl�e Note contlicts with applicable law,
<br /> such coi�tlict shall not affect other provisions of this Deed of Trust or the Note whicl� can be given effect without the
<br /> contlicting provisiou, and tc� this eud the �rovisic»�s of tl�is Deed of Trust and the Note are declared to be severable. As
<br /> used l�erein, "costs", "expeuses" and "attorneys' fees" include all sums to the exteut not prohihited by applicahle law or
<br /> limited herein.
<br /> 14. Borrower's Copy�. Borrower sl�all be furnisl�ed a couformed copy of the Note a�id of tl�is Deed of Trust at tl�e
<br /> time of execution or after recc�rdation liereof.
<br /> 15. Rehabilitation Loan Agreement. Borrower sl�all fulfill all of Borrower's obligati<�ns under any home
<br /> re6abilitation, improvement, repair or other loan agreement which Borrower e��ters into witl� Lender. Lender, at Lender's
<br /> optiun, tnay reyuire Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assi�nment of any
<br /> rights, claims or defei�ses which Borrower may l�ave against parties who supply labor, materials or services in connectiou
<br /> with improvement� made to tlie Property.
<br /> 16. Transfer of the Property or a Beneficial Interest in Borrower. If all ar any part c�f the Property or any interest
<br /> in it is sold or transferred (or if a he�ieficial intere�t i❑ Borrower is sold or transferred a��d Borrower is not a ►�atural
<br /> person) without Lender's priur written consent, Lender may, at its optiou, require immediate payment in full of all sums
<br /> secured by this Deed of Trust. However, ttiis option sl�all uot be exer�ised by Lei�der if exercise is prol�ihited by federal
<br /> law as of tl�e date of tl�is Deed of Trust.
<br /> If Lender exercises this optiou, Lei�der sl�all give Borrower notice of acceleration. The notice sl�all provide a period
<br /> of not less than 30 days from the date the uotice is delivered or mailed withiii which Borrower must pay all suuis secured
<br /> by this Deed of Trust. If Borrower fails to pay these sums prior to the expiratiou of this period, Leuder may invoke any
<br /> ren�edies permitted hy tl�is Deed of Trust without furtlier notice or demaud on Borrower.
<br /> NON-UNIFORM COVENAIVTS. B��rrower and Leuder furtlier cc�venaut and a�ree as follows:
<br /> 17. Acceleration; Remedies. Except as provided in paragraph 16 hereof, upon Borrower's breach of any
<br /> covenant or agreement of Borrower in this Deed of Trust, including Borrower's failure to pay, by the end of 10
<br /> calenclar days after they are clue, any sums secured by this Deed of Trust, Lender prior to acceleration shall give
<br /> notice to Borrower as provicled in paragraph 12 hereof specifying: (l) the breach; (2) the action required to cure
<br /> such breach; (3) a date, not less than 20 days from the date the notice is mailed to Borrower, by which such breach
<br /> must be cured; and (4) that failure to cure s«ch breach on or before the clate specifiecl in the notice may result in
<br /> acceleration of the sums securecl by this Deed of Trust and sale of the Property. The notice shall fttrther inform
<br /> Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the nonexistence of
<br /> a default or any other defense of Borrower to acceleration and sale. If the breach is not cured on or before the date
<br /> specified in the notice, Lender, at Lender's option, may declare all of the sums secured by this Deed of Trust to be
<br /> immediately due and payabie without further demanct and may invoke the power of sale and any other remedies
<br /> permittec! by applicable law. Lend�r shall be entitted to collect all reaso«able costs and expenses incurred in
<br /> pursuing the remedies provided in this paragraph l7, inch�ding, but not limitecl to, reasonable attorneys' fees.
<br /> if the power of sale is invoked, Trustee shall record a notice of default in each county in which the Property or
<br /> some part thereof is located and shall mail copies of such notice in the manner prescribed by applicable law to
<br /> Borrower and to the other persons prescribecl by applicable law. After the lapse of such time as may be required by
<br /> applicable law, Trustee shall give public notice of sale to the persons and in the manner prescribecl by applicable
<br /> law. Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder at the time
<br /> and place and under the terms designated in the notice of sale in one or more parcels and in such order as Trustee
<br /> may determine. Trastee may postpone sale of all or any parcel of the Property by pi�blic announcement at the time
<br /> and place of any Nreviously scheduled sale. Lencler or Lender's designee may purchase the Property at any sale.
<br /> Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the
<br /> Property sold. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made
<br /> therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all reasonable costs and expenses of
<br /> the sale, including, but not limited to, Trustee's fees actually incurred of not more than 5 % of the gross sale price,
<br /> reasonable attorney�s' fees ancl costs of title evidence; (b) to all sums secured by this Deed of Trust; and (c) the
<br /> excess, if any, to the person or persons legally entitled thereto.
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