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SAM NOLTE V V I V � v �� ' 9050567 09/24/1999
<br /> 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in coiuiection with any
<br /> condenmation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby
<br /> assigned and shall be paid to Lender, subject to the terms of auy mortgabe, deed of trust or other security agreement with a
<br /> lieu which has priority over this Deed of Trust.
<br /> 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of tlie time for payment or
<br /> modificati<>n of amortization of the sums secured by this Deed of Trust granted by Lender to any successor in interest of
<br /> Borrower shall not operate to release, iu auy matuter, the liability of the original Borrower and Borrower's successors in
<br /> interest. Lender shall not be reyuired to commence proceedings against such successor or refuse to extend time for payment
<br /> or otherwise modify amortizatiou 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. Any forbearance by Leuder in exercising any right or remedy hereunder,
<br /> or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such rigtrt or remedy.
<br /> 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements herein
<br /> contained shall biud, aud the rights hereunder shall inure to, the respecCive successors and assigns of Lender and Borrower,
<br /> subject to the provisious of paragraph 16 hereof. All covenants and agreenients of Borrower shall be joint and several.
<br /> Aiiy Borrower who co-sib�is tl�is Deed of Trust, but does not execute the Note, (a) is co-signiug this Deed of Trust only to
<br /> grant and convey that Borrower's interest in tl�e Property to Trustee under the terms of diis Deed of Trust, (b) is not
<br /> personally liable on the Note or uuder diis Deed of Trust, and (c) agrees that Lender and any other Borrower herewider
<br /> ►Yiay agree to extend, moditiy, furhear, or make any otiier accommodations with regard t�� the terms of this Deed of Trust ar
<br /> tl�e Note, witl�out tl�at Borrower's cousent and without releasing that Borrower or modifying this Deed of Trust as to that
<br /> Borrower's interest in tl�e Property.
<br /> 12. Notice. Except for any uotice required under applicable law to be given in avother mam�er, (a) any notice to
<br /> Borrower provided for in this Deed of Trust shall be given by delivering it or by mailing such notice by certitied mail
<br /> addressed to Borrower at the Property Address or at such other address as Borrower may designate by uotice to Lender as
<br /> provided herein, and (b) any notice to Leuder shall be given by certitied mail to Lecider's address stated herein or to such
<br /> other address as Lender may designate by notice to Borrower as provided hereiv. Auy notice provided for in this Deed of
<br /> Trust shall be deemed to have beeu given to Borrower or Lender when given in the maimer designated herein.
<br /> 13. Governing Law; Severability. The state and local laws applicable to tl�is 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 tl�is Deed of Trust or the Note which can be given effect witl�out the
<br /> conflicting pmvision, and to this end the pmvisions of this Deed of Trust and tl�e Note are declared to be severable. As
<br /> used l�erein, "costs", "expenses" and "attarneys' fees" include all sums to the extent not prohibited by applicable law or
<br /> limited herein.
<br /> 14. Borrower's Copy. Borrower shall be iur�iished a conformed copy of the Note and of this Deed of Trust at the
<br /> time of execution or after recordation l�ereof.
<br /> 15. Rehabilitation Loan Agreement. Borrower shall fulfill all of Borrower's obligations under any home
<br /> reliabilitatioii, improveine�it, re�air or otl�er loan aareement which Borrower eiiters into with Lender. Lender, at Leuder's
<br /> option, may require Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment of any
<br /> rights, claims or defenses which Borrower may have agaiust parties who supply labor, materials ar services in cotuiection
<br /> with imrrovements made to the Prorerty.
<br /> 16. Transfer of the Property or a Beneficial Interest in Borrower. If all or airy part of the Property or any interest
<br /> in it is sold or transferred (or if a beueticial iuterest in Borrower is sold or transferred and Borrower is not a natural
<br /> person) without Lender's prior written conseiit, Lender may, at its option, require immediate payment in full of all sums
<br /> secured by this Deed of Trust. However, this option sliall not 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 option, Leuder sliall �ive Borrower notice of acceleration. The notice shall provide a period
<br /> of noC less than 30 days from the date the notice is delivered ar mailed within which Borrower must pay all sums secured
<br /> hy this Deed of Trust. If Borrower fails to pay tliese sums prior to the expiration of this period, Lender may invoke any
<br /> remedies perinitted by tl�is Deed of Trust without further notice or demand on Borrower.
<br /> NON-UNIFORM COVENANTS. Borrower and Lender further covenant aud 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 Naragraph 12 hereof specifying: (1) 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 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 sball 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 defaidt or any other defense of Borrower to acceleration and sale. If the breach is not curecl on or before the date
<br /> specified in the notice, Lender, at Lender's option, may cleclare all of the sums secured by this Deed of Trust to be
<br /> immediately due and payable without further demand and may invoke the power of sale ancl any other remedies
<br /> permitted by applicable law. Lender shall be entitled to collect all reasonable costs and expenses incurrecl in
<br /> pursi�ing the remedies provided in this paragraph 17, inciuding, but not timitec�to, reasonable attorneys' fees. i
<br /> If the power of sale is invoked, Trustee shall record a notice of ctefault 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 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 /> Upon 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, inclucling, 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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