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200504901
<br />12, Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice
<br />to Borrower 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
<br />of the jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of federal law
<br />to this Deed of Trust. In the event that any provision or clause of this Deed of Trust or the Note conflicts with
<br />applicable law, such conflict shall not affect other provisions of this Deed of Trust or the Note which can be given effect
<br />without the conflicting provision, and to this end the provisions of this Deed of Trust and the Note are declared to be
<br />severable. As used herein, "costs," "expenses" and "attorneys' fees" include all sums to the extent not prohibited by
<br />applicable law or limited herein.
<br />14. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Deed of Trust at
<br />the time of execution or after recordation hereof.
<br />15. Rehabilitation Loan Agreement. Borrower shall fulfill all of Borrower's obligations under any home
<br />rehabilitation, improvement, repair, or other loan agreement which Borrower enters into with Lender. Lender, at Lender'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 against parties who supply labor, materials or services in connection
<br />with improvements made to the Property.
<br />16. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any
<br />interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower 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
<br />period 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 Borrower.
<br />NON - UNIFORM 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 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
<br />of a default or any other defense of Borrower to acceleration and sale. If the breach is not cured on or before the
<br />date specified in the notice, Lender, at Lender's option, may declare all of the sums secured by this Deed of Trust
<br />to be immediately due and payable without further demand and may invoke the power of sale and any other
<br />remedies permitted by applicable law. Lender shall be entitled to collect all reasonable costs and expenses incurred
<br />in 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
<br />or 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
<br />by 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
<br />time and place and under the terms designated in the notice of sale in one or more parcels and in such order as
<br />Trustee may determine. Trustee may postpone sale of all or any parcel of the Property by public announcement
<br />at the time and place of any previously scheduled sale. Lender or Lender's designee may purchase the Property
<br />at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying
<br />the Property sold. The recitals in the 't'rustee's deed shall be prima facie evidence of the truth of the statements
<br />made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all reasonable costs and
<br />expenses of the sale, including, but not limited to, Trustee's fees actually incurred of not more than fifty dollars or
<br />one -half of one percent of the gross sale price, reasonable attorneys' fees and costs of title evidence; (b) to all sums
<br />secured by this Deed of Trust; and (c) the excess, if any, to the person or persons legally entitled thereto.
<br />18. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Deed
<br />of Trust due to Borrower's breach, Borrower shall have the right to have any proceedings begun by Lender to enforce
<br />this Deed of Trust discontinued at any time prior to the earlier to occur of (i) the fifth day before the sale of the Property
<br />pursuant to the power of sale contained in this Deed of Trust or (ii) entry of a judgment enforcing this Deed of Trust
<br />if. (a) Borrower pays Lender all sums which would be then due under this Deed of Trust and the Note had no
<br />acceleration occurred; (b) Borrower cures all breaches of any other covenants or agreements of Borrower contained in
<br />this Deed of Trust; (c) Borrower pays all reasonable expenses incurred by Lender and Trustee in enforcing the covenants
<br />and agreements of Borrower contained in this Deed of Trust, and in enforcing Lender's and Trustee's remedies as provided
<br />in paragraph 17 hereof, including, but not limited to, reasonable attorneys' fees; and (d) Borrower takes such action as
<br />Lender may reasonably require to assure that the lien of this Deed of Trust, Lender's interest in the Property and
<br />Borrower's obligation to pay the sums secured by this Deed of Trust shall continue unimpaired. Upon such payment and
<br />cure by Borrower, this Deed of Trust and the obligations secured hereby shall remain in full force and effect as if no
<br />acceleration had occurred.
<br />19. Assignment of Rents; Appointment of Receiver; Lender in Possession. As additional security hereunder,
<br />Borrower hereby assigns to Lender the rents of the Property, provided that Borrower shall, prior to acceleration under
<br />paragraph 17 hereof or abandonment of the Property, have the right to collect and retain such rents as they become due
<br />and payable.
<br />Upon acceleration under paragraph 17 hereof or abandonment of the Property, Lender, in person, by agent or
<br />by judicially appointed receiver shall be entitled to enter upon, take possession of and manage the Property and to collect
<br />the rents of the Property including those past due. All rents collected by Lender or the receiver shall be applied first to
<br />payment of the costs of management of the Property and collection of rents, including, but not limited to, receiver's fees,
<br />premiums on receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this Deed of Trust. Lender
<br />and the receiver shall be liable to account only for those rents actually received.
<br />Form 3828 3/98 (Page 4 of 5 Pages)
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