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`SAM NOLTE _ ,•: . , . ; ,
<br /> 2027 ` - � . ;
<br /> • 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any :
<br /> condemnation or other takiug of the Property, or part thereof, or for conveyance in lieu of coudemnation, are hereby :
<br /> assigned and sliall be paid to Lender, subject to the terins of any�nortgage, deed of trust or other security agreemeut with a
<br /> lien which l�as priority over tliis Deed of Trust.
<br /> 10. Borrower Not Released; Forbearance By Lender l�Tot a Waiver. Extension of the tiine for payment or
<br /> ���odification of amortization of the sums secured by this Deed of Trust �rai�ted by Lender to any successor in iuterest of
<br /> Borrower shall not operate to release, in any manner, the liability of tl�e ori�inal Borrower and Borrower's successors in
<br /> interest. Lender shall not be required to connneuce proceedings against such successor or refuse to extend time for payinent
<br /> or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand inade by the original :
<br /> Borrower and Borrower's successors in interest. Any forbearance by Leuder in exercising auy right or remedy hereunder, :
<br /> ar otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any sucli right or remedy. :
<br /> 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements herein
<br /> contained shall bind, and the rights hereunder shall inure to, the respective successors aud assigns of Lender and Borrower,
<br /> subject to the provisions of paragraph 16 hereof. All covenants and agreements of Borrower shall be joint aud several.
<br /> Any Borrower who co-signs this Deed of Trust, but does not execute the Note, (a) is co-signing this Deed of Trust only to :
<br /> grant and 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 or under this Deed of Trust, and (c) agrees that Lender and any other Borrower hereunder
<br /> may agree tc>extei�d, modify, fc�rbear. or n�ake any other accommodations with regard to the terms of this Deed of Trust or
<br /> the Note, witllout that Barr<�wer's a>nsent and witl�out releasing that Borrower or modifying tl�is Ueed cif Trust as tu that
<br /> Borr��wer's interest in the Property.
<br /> 12. Notice. Except for auy notice reyuired under applicable law to be given in another manuer, (a) any notice to �
<br /> Borrower provided for iii this Deed of Trust shall be giveti by delivering it or by �nailiug such notice by certified mail
<br /> addressed to Borrower at the Property Address or at sucti other address as Borrower inay desiguate by notice to Lender as ;:�
<br /> provided hereiri, aud (b) any notice to Lender shall be given by certified mail to Lender's address stated herein ar to such :
<br /> other address as Lender may designate by notice to Borrower as provided herein. Any notice provided far in this Deed of :
<br /> Trust shall be deemed to have been given to Borrower or Lender when given iu 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
<br /> jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of Federal law to this
<br /> Deed of Trust. In the event that any provision or clause of this Deed of Trust or the Note conflicts with applicable law,
<br /> such conflict shall not affect other provisions of this Deed of Trust or the Note which can be given effect without the :
<br /> conflicting provision, and to this end the provisions of this Deed of Trust and tlie Note are declared to be severable. As
<br /> used herein, "costs", "expenses" and "attorueys' fees" include all sums to tlie extent not prohibited by applicable law or
<br /> limited herein.
<br /> 14. Borrower's Copy. Borrower shali be furuished a conformed copy of tlie Note and of this Deed of Trust at tl�e
<br /> time of execution��r after recordation hereof. �
<br /> 15. Rehabilitation Loan Agreement. Borrower shall fulfill all of Borrower's obligatioi�s uuder any hoiYie
<br /> rehabilitation, improvement, repair or other loan agreement which Borrower enters into with Lender. Leuder, at Lender's
<br /> option, �i�ay reyuire Borrower to execute aud deliver to Lender, in a form acceptable to Lender, an assignmeut of a�ry
<br /> rigl�ts, claims or defeuses which Borrower may have against parties who supply labor, materials or�rvices ut cou,uection
<br /> with iiiiprovenients �nasie to the Pra�erty. � ��� �� ��
<br /> 16. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Prc>perry ur any iuterest
<br /> in it is sold or transferred (or if a beneticial interest in Borrower is sold or trausferred and Borrower is not a natural
<br /> person) without Lender's prior written consent, Lender may, at its option, require iinmediate pay�Tient in full oti all sums
<br /> secured by this Deed of Trust. However, tliis option shall uot be exercised by Lender if exercise is prohibited by federal
<br /> law as of the date of this Deed of Trust.
<br /> If Lender exercises this optiou, Lender shall give Borrower uotice of acceleration. The notice shall provide a period
<br /> of not less than 30 days from the date die notice is delivered or mailed witl�in wliich Borrower must pay all sums secured
<br /> by diis Deed of Trust. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any
<br /> remedies permitted by diis Deed of Trust without further notice or demand on Borrower.
<br /> NON-UIVIFORM COVEIVANTS. 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
<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, Lender prior to acceleration shall give
<br /> notice to Borrower as provided 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 curect; and (4) that failure to cure such breach on or before the clate 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 and the right to bring a court action to assert the nonexistence of
<br /> a clefault or any other clefense 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 clue and payable without further demand and may invoke the power of sale and any other remedies
<br /> permitte�l by applicable law. Lender shall be entitled to collect al! reasonable costs and expenses 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 demand on Borrower, shall sell the Property at public auction to the highest bidcler at the time
<br /> and place and under the terms designated in the notice of sale in one or more parcels ancl 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 /> ancl place of any previously schedided sale. Lender 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 cleed conveying the
<br /> Property solcl. 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 attorneys' fees and costs of title eviclence; (b) to all si►ms 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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