|
e�00002�ss g 9 1110 8 5
<br /> 9. Condemnation. The proceeds of any awazd or claim for damages, direct or consequential, in connection with
<br /> any condemnation 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 any mortgage, deed of trust or other security agreement
<br /> with a lien which has priority over this Deed of Trust.
<br /> 10. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
<br /> modification of amortization of the sums secured by this Deed of Trust granted by Lender to any successor in interest of
<br /> Bonower shall not operate to release,in any manner,the liability of the original Borrower and Borrower's successors in
<br /> interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for
<br /> payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand made by
<br /> the original Bonower and Bonower's successors in interest. Any forbearance by Lender in exercising any right or
<br /> remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any
<br /> such right or remedy.
<br /> 11. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements
<br /> herein contained shall bind,and the rights hereunder shall inure to,the respective successors and assigns of Lender and
<br /> Borrower, subject to the provisions of paragraph 16 hereof. All covenants and agreements of Borrower shall be joint
<br /> and several. Any Borrower who co-signs this Deed of Trust, but does not execute the Note, (a) is co-signing this Deed
<br /> of Trust only to grant and convey that Bonower's interest in the Property to Trustee under the terms of this Deed of
<br /> Trust, (b) is not personally liable on the Note or under this Deed of Trust, and (c) agrees that Lender and any other
<br /> Borrower hereunder may agree to extend, modify,forbear,or make any other accommodations with regard to the terms
<br /> of this Deed of Trust or the Note, without that Bonower's consent and without releasing that Borrower or modifying
<br /> this Deed of Trust as to that Borrower's interest in the Property.
<br /> 12. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br /> Bonower provided for in this Deed of Trust shall be given by delivering it or by mailing 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
<br /> as provided herein, and(b) any notice to Lender shall be given by certified mail to Lender's address stated herein or to
<br /> such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br /> Deed of 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 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 laFV,
<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 the Note are declared to be severable. As
<br /> used herein, "costs," "expenses" and "attorneys' fees" include all sums to the extent not prohibited by applicable law or
<br /> limited herein.
<br /> 14.Borrower's Copy.Bonower shall be furnished a conformed copy of the Note and of this Deed of Trust at the
<br /> time of execution or after recordation hereof.
<br /> 15. Rehabilitation Loan Agreement. Bonower shall fulfill all of Borrower's obligations under any home
<br /> rehabilitation, improvement, repair, or other loan agreement which Bonower enters into with Lender. Lender, at
<br /> Lender's option, may require Bonower to execute and deliver to Lender,in a form acceptable to Lender,an assignment
<br /> of any rights, claims or defenses which Borrower may have against parties who supply labor, materials or services in
<br /> connection with improvements made to the Property.
<br /> 16. Transfer of the Property or a Bene�cial Interest in Borrower. If all or any part of the Property or any
<br /> interest in it is sold or transfened (or if a beneficial interest in Borrower is sold or transferred and Bonower is not a
<br /> natural person) without Lender's prior written consent,Lender may,at its option,require immediate payment in full of
<br /> all sums secured by this Deed of Trust. However, this option shall not be exercised by Lender if exercise is prohibited
<br /> by federal law as of the date of this Deed of Trust.
<br /> If Lender exercises this option,Lender shall give Borrower notice of acceleration.The notice shall provide a period
<br /> of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums
<br /> secured by this Deed of Trust. If Borrower fails to pay these sums prior to the expiration of this period, Lender may
<br /> invoke any remedies permitted by this Deed of Trust without further notice or demand on Bonower.
<br /> NON-iJNIFORM COVENANTS.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: (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
<br /> breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice
<br /> Initials:
<br /> ��-76(NE)�saos� Page 4 of 6 ,j� Form 3828
<br /> Y
<br />
|