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BE�tNICE •J BEEDER �`"� ������ 202606 08/23/1999
<br /> 9. Condemnation. Tlie proceeds of any award or claim for damages, dir•ect�r consequential, in connectiou with any
<br /> coiidemnatiou or other takin; of the Property, or part Chereof, or for co�rveyance in lieu of condemnation, are hereby
<br /> assigned and sl�all be paid to Leuder, subject to the tenns of any mortga�e, deed of trust or other securiry agreei�ient with a
<br /> lien which has priority over this Deed of Trust.
<br /> l0. Borrower 1�1ot Released; Forbearance By Lender Not a Waiver. Extension of tl�e time for payment or
<br /> modificatiou of amortization of die su�r�s secured by this Deed of Trust �rauted by Lender to any successor in interest of
<br /> Borrower shall n��t operate to release, i❑ auy mamier, tl�e liability of tl�e original Borrower and Borrower's successors in
<br /> iuterest. Lender shall not be required to comtnence proceedings against sudi successor or refuse to extend time for payment
<br /> � or otlierwise modify ainortization of the sums secured by this Deed <�f Trust by reason of any demand made by tl�e origival
<br /> Borrower and Borrc�wer's successors iu interest. Any forbearance by Lender in exercising any rigl�t or remedy hereunder,
<br /> or otherwise afforded by applicahle law, shall not he a waiver of or preclude tl�e exercise of any such rigl�t or remedy.
<br /> 11. Successors and Assigns Botmd; Joint and Several Liability; Co-signers. The covenants and agreements herein
<br /> contained sl�all biud, and tl�e rigl�ts hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br /> subject to tl�e provisions of paragraph 16 hereof. All coveuants aud abreei�ients of Borrower sliall be joint and several.
<br /> Any Borrower who co-sigus tl�is Deed of Trust, bat does not execute tlie Note, (a) is co-sigivn� this Deed of Trust only to
<br /> �rant aud convey that Borrower's interest in the Property to Trustee under the terms of this Deed of Trust, (b) is not
<br /> persoually liable on the Note or under tl�is Deed of Trust, and (c) agrees that Lender aud any other Borrower hereunder
<br /> may agree to exteud, �nodify, forbear, or make any other accommodations witli regard to the terms of this Deed of Trust or
<br /> the Note, witl�out that Borrower's cunsent and without releasing that Borrower or �nodifying this Deed of Trust as tci that
<br /> Borrower's interest in tl�e Property.
<br /> 12. Notice. Except for auy notice reyuired under applicable law to be biven iu another ma�mer, (a) any uotice to
<br /> Borrower provided for in this Deed of Trust sl�all be given by deliverin� it c�r by mailing such notice by certified mail
<br /> addressed to Borrower at tlie Prc�perty Address or at such otl�er address as Borrower inay designate by notice to Lender as
<br /> provided lierein, and (b) auy uotice to Lender sl�all be give�i by certified uiail to Lender's address stated herein ar to sucl�
<br /> other address as Lender may designate by notice to Barrower as provided i�ereiu. Any uotice provided for in tliis Deed of
<br /> Trust shall be deemed to l�ave beeu given to Borrower or Lender wheu biven in tlie mamier designated herein.
<br /> 13. Governing Law; Severability. The state and local laws applicable to this Deed of Trust sl�all be the laws of the
<br /> jurisdictic�n in whicl� tl�e Property is located. The foregoing sentence shall uot limit the applicability of Federal law Co this
<br /> Deed of Trust. I�i the event tl�at any provision or clause of this Deed of Trust or the Note contlicts with applicable law,
<br /> such cont]ict shall uot affect otl�er provisions of this Deed of Trust or tl�e Note whicl� can be given effect without the
<br /> conflicting provision, and to tl�is end tl�e provisions of tl�is Deed of TrusC and tl�e Note are declared to be severable. As
<br /> used herein, "costs", "expe�ises" aiid "attorneys' fees" include all sums to the extent not proliibited by applicable law or
<br /> limited lierein.
<br /> 14. Borrower's Copy. Borrower shall be furuished a conformed copy of tl�e Note and of tl�is Deed of Trust at the
<br /> time of execution or after recordation hereof.
<br /> 15. Rehabilitation Loan Agreement. Borrower shall fultill all of Borrower's obligatic�ns uuder any home
<br /> rehabilitation, improvement, repair or otl�er loan agreement whicl� Bc�rrower euters into with Lender. Lender, at Lender's
<br /> optiou, iT�ay require Borrower to execute aud deliver to Lender, in a form acceptable to Lender, an atisignment of any
<br /> rights, clairns or defe��ses whicl� Borrower may have against parties who supply labor, inaterials or services in cotmectiou
<br /> with improvemeuts made to tl�e Property.
<br /> 16. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest
<br /> iu it is sold or transferred (or if a beneticial interest in Borrower is sold or transferred and Borrower is not a uatural
<br /> person) witliout Lender's prior written cousent, Lender tnay, at its option, require immediate payment in full of all sums
<br /> secured by tl�is Deed of Trust. However, this option shall not be exercised by Lender if exercise is prohibited hy federal
<br /> law as of the date of this Deed of Trust.
<br /> If Leuder exercises this option, Lender shall bive Borrower notice of acceleration. Tl�e uotice shall provide a period
<br /> of tiot less tl�au 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured
<br /> hy tl�is Deed of Trust. lf Borrower fails to pay these suitis prior to the expiration of this period, Lender may invoke a�ry
<br /> remedies periTiitted by this Deed of Trust without further notice or demaud ou Borrower.
<br /> NON-UIVIFORM COVENANTS. Borrower aud Lender furtlier covenant and agree as follows:
<br /> 17. Acceleration; Remedies. Except as provided in paragraph l6 hereof, upon Borrower's breach of any
<br /> covenant or agreement of Borrower in this Deed of Trust, induding Borrower's failure to pay, by the end of ]0
<br /> calenclar days after they are due, any sums secured by this Deed of Trust, Lender prior to acceleration shall give
<br /> notice to Borrower as provided in paragraph ]2 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 such breach on or before the date specified in the notice may result in
<br /> acceleration of the sums secured by this Deed of Trust and sale of the Property. The notice shall further inform
<br /> Borrower of the right to reinstate after acceleration ancl the right to bring a coart action to assert the nonexistence of
<br /> a clefault 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 /> immecliately due and pavable without fnrther demand and may invoke the power of sale and any other remedies
<br /> permitted by applicable law. Lender shall be entitled to collect all reasonable costs and espenses incurred in
<br /> pursuing the remedies provided in this paragraph 17, including, but not limited 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 public notice of sale to the persons and in the manner prescribed by applicable
<br /> law. Trustee, without clemand on Borrower, shall sell the Property at public auction to the highest bidder at the time
<br /> ancl 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 /> Upon receipt of payment of the price bicl, Trustee sha❑ deliver to the purchaser Trustee's deed conveying the
<br /> Property solcl. The recitals in the Trustee's deed shall be prima facie evidence of the trath of the statements made
<br /> . therein. Trnstee 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 °Io of the gross sale price,
<br /> reasonable attorneys' fees and costs of title evidence; (b) to all sums secured by this Deed of Trust; anct (c) the
<br /> excess, if any, to the person or persons legally entitled thereto.
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