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MARTHA LUEBBE MARVIN LUEBBE 9 9 1 4 7 8 2 3 202556 08/02/1999
<br /> 9. Condemnation. The proceeds of auy award or claiin for damages, direct or consequential, in cotmection with any
<br /> coudenuiation or otl�er taking of the Property, or part thereof, or for couveyance in lieu of condenuiation, are hereby
<br /> assigned and shall be paid to Lender, subject to the terms of any mortgage, deed of trust or other security agreeinent with a
<br /> lien which l�as priority over this Deed of Trust.
<br /> 10. Borrower Not Releasecl; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br /> moditication of amortization af the sums secured by this Deed of Trust grauted by Lender to any successor in interest of
<br /> Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors in
<br /> interest. Leuder shall not be required to commence proceedings against such successor or refuse to exteud time for payment
<br /> or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand made by the original
<br /> Borrower and Borrower's successors in interest. Auy forbearance by Lender in exercising any right or remedy hereuuder,
<br /> or otlierwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br /> 1l. Successors and Assigris Bound; Joint and Several Liability; Co-signers. The covenants and agreements hereiu
<br /> contaiued shall bind, and the riglits hereunder shall inure to, the respective suc;cessors and assigns of Lender and Borrower,
<br /> subject to the provisious of paragraph 16 hereof. All covenants and agreements of Borrower shall be joint and several.
<br /> Any Bc�rrower who co-signs this Deed of Trust, but does not execute the Note, (a) is co-signin�this Deed of Trust only to
<br /> grant and coirvey tltat Borrower's uiterest in the Property to Trustee under the terms of this Deed of Trust, (b) is not
<br /> personally liable ou the Note or under ttiis Deed of Trust, and (c) agrees that Leuder and any other Borrower l�ereunder
<br /> rrtay agree to eYZend, nic�dify, forbear, or r�iai�e a�iy �,C'..er a�commodztions with rc;gard tc� the tenlis of this Deed of Trust or
<br /> the Note, without that Borrower's consent and without releasing that Borrower or �liodifying this Deed of Trust as to that
<br /> Borrower's interest iu the Property.
<br /> 12. Notice. Excert for auy notice reyuired under applicable law to be given in another mamier, (a) any notice to
<br /> Borrower provided far in this Deed of Trust shall be given by delivering it or by mailiug such notice by certified mail
<br /> addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to Lender as
<br /> provided herein, and (b) any notice to Lender shall be given by certitied mail to Levder's address stated hereiu or to such
<br /> other address as Lender may designate by notice to Borrawer as provided herein. Any notice provided for in this Deed of
<br /> Trust shall be deemed to have been 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 tlie laws of the
<br /> jurisdiction in wl�ich the Properry is located. The foregoing sentence shall not limit the applicabiliry of Federal law to this
<br /> Deed of Trust. Iu the eveut that any provision or clause of this Deed of Trust or tl�e Note conflicts with applicable law,
<br /> such co�iflict shall not affect other provisions of tlus Deed of Trust or the Note which can be given effect without the
<br /> conflicting provision, a�id to this end the prc�visions of this Deed of Trust and the Note are declared to be severable. As
<br /> used herei�i, "costs", "expenses" and "attorueys' fees" include all sums to the extent not prohibited by applicable law or
<br /> limited l�erein.
<br /> 14. Borrower's Copy. Borrower sl�all be furnished a conformed copy of the Note and of this Deed of Trust at the
<br /> tiine of execution or after recordation hereof.
<br /> 15. Rehabilitation Loan Agreement. Borrower shall fultill all of Borrower's obligations under airy home
<br /> rehabilitation, improveuient, repair or other loan agreement which Borrower enters into with Leuder. Lender, at Lender's
<br /> option, may reyuire Borrower to execute aud deliver to Lender, in a form acceptable to Lender, an assigiunent of any
<br /> rights, claims or defenses which Borrower may liave against �arties who supply labor, materials or cervices in connection
<br /> with 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 iuterest
<br /> in it is sold or transferred (or if a beneticial interest in Borrower is sold or transferred and Borrower is not a natural
<br /> perso�i) witl�out Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums
<br /> secured by this Deed of Trust. However, tliis optiou shall not be exercised by Lender if exercise is prol�ibited by federal
<br /> law as of the date of this Deed of Trust.
<br /> If Lender exercises this option, Lender shall give Borrower notice of acceleration. The votice shall provide a period
<br /> of not less than 30 days from the date the notice is delivered or mailed withiu which Borrower must pay all sums secured
<br /> by this Deed of Trust. If Borrower fails to pay these sums prior to the expiration of this period, Lender may iuvoke any
<br /> remedies permitted by this Deed of Trust witl�out further notice or deuiaud on Borrower.
<br /> NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br /> 17. Acceleration; Remeclies. 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 /> calendar days after they are due, any sums secured by this Deed of Trust, Lencler prior to acceleration shall give
<br /> notice to Borrower as provided in paragrap6 12 hereof specifying: (1) the breach; (2) the action reqttired 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 such breach on or before the date specified in the notice may result in
<br /> acceleration of the sums seci►recl by this Deed of Trust and sale of the Property. The notice shall further 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 clefault or any other clefense of Borrower to acceleration ancl sale. If the breach is not cured on or before the clate
<br /> speci6ed in the notice, Lender, at Lender's option, may declare all of the sums secured by this Deed of Tr��st to be
<br /> immediately due and payable without further demand and m�y invoke the power of sale and any other remedies
<br /> permitted by applicable law. Lender shall be entitled to collect all reasonable costs and expenses incurred in
<br /> pursuing the remedies provided in this paragraph 17, including, 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 prescribed by applicable law. After the lapse of such time as may be required by
<br /> applicable law, Trustee shall give pi�blic 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
<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. Trustee may postpone sale of all or any parcel of the Property by public announcement at the time
<br /> and place of any previously scheduled sale. Lender or Lender's designee may purchase the Property at any sale.
<br /> L1pon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the
<br /> Property solcL The recitals in the Trustee's cleed 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 attorneys' fees and 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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