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<br />200609624
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<br />A consent and waiver of Lender's option to accelerate shall be subject to (a) the credit of the
<br />purchaser or transferee being satisfactory to the Lender; (b) an assumption fee of two percent (2%) of the
<br />then outstanding Principal balance being paid to Lender; (c) assumption of full and unconditional
<br />liability on the indebtedness by all purchasers or transferees of the Property on a joint and several basis;
<br />and (d) any other requirements reasonably necessary to protect Lender's interest in the Property. Any
<br />agreement regarding Lender's consent and waiver of its option to accelerate must be in writing and
<br />reached prior to the date of the sale or transfer. Waiver of any right granted to the Lender by the
<br />provisions of this paragraph as to one transaction, event or occurrence shall not be deemed to be a waiver
<br />of any right as to any subsequent transaction, event or occurrence.
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<br />The sale or transfer of the Property subject to this Security Instrument or the assignment of the
<br />Note shall not operate to release the Borrower or any guarantor of the Note without the express written
<br />agreement of Lender, which may be withheld in Lender's sole discretion.
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<br />If the ownership of the Property subject to this Security Instrument becomes vested in a
<br />person(s), corporation, partnership, limited liability company, or joint venture other than the Borrower,
<br />the Lender may, without notice to the Borrower, deal with such successor or successors in interest with
<br />reference to the Security Instrument and the debt evidenced hereby secured as with the Borrower, and
<br />may forebear to sue, alter time for payment of the debt, change the Interest rate and/or payments of the
<br />debt hereby secured, without discharging or in any way affecting the liability of the Borrower hereunder
<br />or upon the debt secured.
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<br />If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration
<br />in accordance with Paragraph 19 hereof. Such notice shall provide a period of not less than ten (10) days
<br />from the date the notice is mailed within which the Borrower may pay the sums declared due. If
<br />Borrower fails to pay such sums prior to the expiration of such period, Lender may, without further
<br />notice or demand on Borrower, invoke any remedies permitted by Paragraph 23 hereof.
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<br />23. ACCELERATION: REMEDIES. Except as provided in Paragraph 22 hereof, upon
<br />Borrower's breach of any covenant or agreement of Borrower in this Security Instrument, including, but
<br />not limited to, the covenants to pay when due any sums secured by this Security Instrument, or if there
<br />shall be filed by or against Borrower an action under any present or future federal, state or other statute,
<br />law or regulation relating to bankruptcy, insolvency, or other relief for debtors; or there shall be
<br />appointed any trustee, receiver, or liquidator of Borrower of all or any part of the Property, or the rents,
<br />issues or profits thereof, or Borrower shall make any general assignment for the benefit of creditors, or
<br />abandonment of the Property, Lender prior to acceleration shall mail notice to Borrower as provided in
<br />Paragraph 19 hereof specifying (i) the breach; (ii) the action required to cure such breach; (iii) a date, not
<br />less than ten (10) days from the date notice is mailed to Borrower, by which such breach must be cured;
<br />and (iv) 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 Security Instrument and sale of the Property. If the breach is not
<br />cured on or before the date specified in the notice, Lender, at Lender's option, may declare all of the sums
<br />secured by this Security Instrument to be immediately due and payable without further demand and may
<br />invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to
<br />collect all costs and expenses actually incurred in pursuing the remedies provided in this Paragraph 23,
<br />including, but not limited to, attorneys' fees actually incurred.
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<br />If the power of sale is invoked, Trustee shall record a notice of default in each county in which
<br />the Property or some part thereof is located and shall mail copies of such notice in the manner prescribed
<br />by applicable law to Borrower and to the other persons prescribed by applicable law. After the lapse of
<br />such time as may be required by applicable law, Trustee shall give public notice of sale to the persons
<br />and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the
<br />Property at public auction to the highest bidder at the time and place and under the terms designated in
<br />the notice of sale in one or more parcels and in such order as Trustee may determine and in the manner
<br />prescribed by applicable law. Trustee may postpone sale of all or any part of the Property by public
<br />announcement at the time and place of any previously scheduled sale and in the manner prescribed by
<br />applicable law. Lender or Lender's designee may purchase the Property at any such sale.
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<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser a Trustee's deed
<br />conveying the Property sold. The recitals in the Trustee's deed shall be prima facie evidence of the truth
<br />of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to
<br />all reasonable costs and expenses of the sale, including, but not limited to, Trustee's fees of not more than
<br />1/2 of 1 % of the gross sale price, attorneys' fees and costs of title evidence; (b) to all sums secured by this
<br />Security Instrument, in such order as Trustee shall determine; and (c) the excess, if any, to the person or
<br />persons legally entitled thereto.
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