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TALANA MALONE CARL HINES 9 9 ������ 102764 09/27/1999
<br /> ' � 9. Condemnation. Tl�e proceeds of any award or claim for damages, direct or coiLSequential, in co�mection witl� any
<br /> coude�miation or otlier taking of tl�e Property, or part thereof, or for cc>nveyance in lieu of condeumatio�i, are liereby
<br /> assigned aud sl�all he paid to Lender, subject to the terms of any mc�rt�a�e, deed of trust or otl�er security agreement with a
<br /> lien whicli lias prioriry over this Deed of Trust.
<br /> 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Exterision of die time for payment or
<br /> moditication of aiTiortization of the sums secured by tl�is Deed of Trust granted by Lender to any successor in interest of
<br /> Borrower shall uot operate to release, iu airy manuer, the liability of tl�e origival Borrower and Borrc�wer's successors in
<br /> iuterest. Lender shall not be required to conunence proceedings against sucl� successor or refuse to extend time for payment
<br /> or otherwise modify amortization of tl�e sums secured by this Deed of Trust by reason of any demand made by the origival
<br /> Borrower and Borrower's successors in iuterest. Any forbearance by Lender in exercising any right or remedy hereunder,
<br /> or otherwise afforded by applicable law, shall uot be a waiver of or preclude the exercise of any such right or remedy.
<br /> 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements herein
<br /> coutained sl�all hiud, aud tlie rights hereunder sl�all inure to, the respective successors and assigns of Lender and Borrower,
<br /> subject to the provisious of paragrapl� 16 l�ereof. All covenants and agreertients of Borrower shall be joint and several.
<br /> Any Borrower who co-sigus this Deed of Trust, but does not execute the Note, (a) is co-siguing tl�is Deed of Trust o�ily to
<br /> grant and co�rvey tl�at Borrower's interest in tl�e Property to Trustee under tl�e terms of this Deed of Trust, (b) is not
<br /> personally liahle oti the Note or under this Deed of Trust, and (c) agrees that Letider and any otl�er Borrower hereunder
<br /> may agree to extend, modify, forbear, or make any other acconunodatious with regard to the ternis of this Deed of Trust or
<br /> the No�e, without that Borrower's consent and without releasing eiiat Barrower or nwdifying this Deed of Trust as to that
<br /> Borrower's interest in tlie Property.
<br /> 12. Notice. Except for any notice reyuired under applicable law to be givei� iti anotl�er ma�mer, (a) any notice tc�
<br /> Borrower provided for iu tliis Deed of Trust shall be �iven by delivering it or by mailing such uotice by certified mail
<br /> addressed to Borrower at the Pro�erty Address or at sucl� other address as Borrower may designate by notice to Lender as
<br /> pravided hereiri, and (b) a�iy uotice to Lender shall be given by certified mail to Lender's address stated lierein or to such
<br /> other address as Lender may desig�iate by notice to Borrower as provided herein. Any �iotice provided for in this Deed of
<br /> Trust sl�all be deemed to have been giveu to Borrower or Lender when�iven in the ma�mer desiguated hereiu.
<br /> 13. Governing Law; Severability. The state aud local laws applicahle to tllis Deed of Trust shall be tl�e laws oti the
<br /> jurisdiction iu which the Properry is located. The foregoing sentence shall not limit the applicability of Federal law to this
<br /> Deed of Trust. In tl�e eveiit that any provisioti or clause of this Deed of Trust or the Note conflicts with applicable law,
<br /> such contlict shall not affect other provisio�LS of this Deed of Trust or the Note which can be given effect witl�out the
<br /> contlicti�i� provision, and to tl�is e�id tlie pmvisious of this Deed of Trust and the I�Iote are declared to be severable. As
<br /> used lierei�i, "costs", "expetises" and "attortieys' fees" include all sums ta the extent not prohibited by applicable law or
<br /> limited herein.
<br /> 14. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of tl�is Deed of Trust at the
<br /> tiuie of execution or after recordatioi�hereof.
<br /> 15. Rehabilitation Loan Agreement. Borrower shall fultill all of Borrc�wer's obligations under any home
<br /> rehabilitation, improvement, repair or other loan agreement which Borrower enters into witl� Lender. Lender, at Lender's
<br /> optiou, may require Borrower to execute and deliver to Lender, in a form acceptable to Let�der, an assignment of any
<br /> ri�hts, claims or defei�ses whid� Borrower may have agaiust parties who suprly labor, materials or services in connection
<br /> with improve�nents made to the Property.
<br /> 16. Transfer of the Property or a Beneficial Interest in Borrower. Tf all or any part�f the Prorerty c�r any interest
<br /> in it is sold or transferred (or if a beueficial interest in Borrower is sc�ld or transferred aiid Borrower is tiot a natural
<br /> persc�n) without Lender's prior writteu co�isent, Leuder may, at its option, require immediate pay►nent in full of all sums
<br /> secured by this Deed of Trust. However, this option shall not be exercised by Lender if exercise iti prohibited by federal
<br /> law as of the date of this Deed of Trust.
<br /> If Lender exercises this optio», Lender sl�all give Borrower uotice of acceleration. The uotice shall provide a period
<br /> of not less than 30 days from the date the notice is delivered or mailed within wliich Borrower must pay all sums secured
<br /> by this Deed of Trust. If Borrower fails to pay these sums prior to the expiration of tl�is period, Lender may invoke any
<br /> remedies permitted by this Deed of Trust witl�out furtl�er notice<�r demand on Borrower.
<br /> NO[V-UNIFORM COVEIVAIVTS. Borrower aud Lender furdier coveuant and agree as follows:
<br /> l7. Acceleration; Remecties. 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 clays after they are due, any sums secured by this Deecl of Trust, Lender prior to acceleration shall give
<br /> notice to Borrower as provided in paragraph 12 hereof s�ecifying: (1) the breach; (2) the action required to cure
<br /> such breach; (3) a clate, 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 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 payable without further demand and may invoke the power of sale and any other remecties
<br /> permittecl by applicable law. Lender shall be entitled to collect all reasonable costs anct expenses incurred in
<br /> pursi�ing the remeclies provided in this paragraph 17, including, but not limited to, reasonable attorneys' fees.
<br /> If the power of sale is in�uked, Tras[ee shall record a notice of default in each county in which the Property or
<br /> some �art 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 piiblic 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 anci 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 /> ancl 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 sold. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the,�tatements 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 incurrecl 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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