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200701003 If the Property is abandoned by HorroweL or if Horrower fails to respond to Lender within 30 days from the date notice is mailed by I,ender 10 .Borrower Ihat the insurancc carner offers to sellle a elaim fill' insurance benefits, I,ender is authorized to collect and apply the ll1surance proceeds at Lender's option either to restoration or repair of the Properly or to the sums secured by this I ked of Trust. 6. Preservation and Maintenance 01' Property: Leaseholds; Condominiums: Planned Unit Developments, Borrower shall keep the Property in good repair and shall not commIt waste or pennit Impaim1ent or deterioration of the Property and shall comply with the provisions 01' any lease if this I )eed 01' Trust is on a leasehold, If tins Deed of Trusl is on a unit in a condominium or a planned unit development, 13orrower shall perlilffil all of Borrower's obligations under tile declaration or covenants creating or governing the condominium or planned tillit development, the by-laws and regulations of the eondomil1lum or pl;Ullled unil development, and constituent documents. 7, Protection of Lender's Sceurity. If Borrower fails to perfOlm the covenants and agreements contained in this Deed of TlUSt, or if any action or procecding is commenced which materially aCli..,cts Lender's interest in the Property, then Lender, at Lender's option, upon notice to Borrower, may make such appearances, disburse such sums, including rcasonahle attorneys' Cees, and take such action as is necessary to protect Lender's interest. If Lender required mortgage insurance as a condition of making the loan secured by this Deed ofTru~t, Bonower shall pay the premiums required to maintain such insurance in effect until such timc as the requIrement for such insurance teffilinates in aeeordancc with 13orrowcr's and Lcndcr's writtcn agrccml'nt or applieahle law. Any alllOlmts dishursed hy Lcnder pursuant to this paragraph 7, with mterest thereon, at the Note rate, shall becomc additional indchtcdness of Horrower secured hy this Deed of Trust. Unless BOlTower and Lender agree to other tenns of payment, sueh amounts shall he payable upon notiec from Lender to Borrower requesting payment tllereof. Nothing contained in this paragraph 7 shall require Lcnder to incur any expense or take any action hereunder. 8. Inspectioll, Lemler IlIay Tll<lke or 0ause to he made reasonahk entries upon and inspections of the Property, provided that Lender shall give BOlTower notice prior to any such inspcction specifying reasonable cause therefor related to Lender" s interest in the Property, 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in eOlilleCtion with any condemnation or other taking of the Property, or part thereof, or for conveyance in licu of condemnation, are hereby asslgned and shall be paid to Lender, subject to the teTms of any mortgage, deed of trust or other security agreement with a lien which has a pnority over thIS Deed of Trust. 10. Borrower Not Released; Forbearance l1y I,ender Not a Waiver. Extension of the time for payment or modification of amortization of thc sums secured by tllis Dced of Trust granted by Lender to any successor in intercst of BOlTower shall not operate to release, in any manner, the liability of the original Bonower and Borrower's successors in interest. Lender shall not be required to conill1ence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Iked of Trust by rcason of any demand made by the original Borrower and Borrower's suecessors in intercst. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude tl1e excreisc of any such right or remedy. II. Successors and Assigns Bound; Joint and Several Liability; Co-signers The covenants and agreements herein eontamed shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, suhject to the provislOns of paragraph 1(, hereof. All covenants and agreements of Borrower shall be jOint and severaL Any Borrower who co-signs this Deed of Trust, but does not execute the Note, (a) is co-signing this Deed of Trust only to grant and convey that Horrower's interest in the Property to TlUstee under the terms of this Deed of Tmst (b) is not personally liable on the Note or under this Deed of TnLst, and (c) agrees that Lender and any other BO!Tower hereunder may agree to extend, m,)(Iify., !(lrbear, or make any other accommodations with regard to the tem1S of this Deed of Trust or the Note, without that 13orrower's consent and without releasing that Borrower or modifying this Deed of Trust as to that BOlTower' s interest in the Property. 12. Notice. Except lin any notice required under applicable law to be givcn in another manner, (a) any notice to 130lTower provided for in this Deed of Trust shall be given hy delivering it or by mailing such notice by certified mail addressed to BOlTower at the Property Address or at such othcr address as Borrower may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be given hy certified mail to Lender's address stated herein or to such otller address as Lender may designate by notice to Borrowcr as provided herein. Any notice provided for in thi~ Deed of Trust ~hall be deemed to have been given to HOlTowcr or Lender when given in the manner designated herein, 13. Governing Law; Severability. The state and loeallaws applicable to this Deed of Trust shall be the laws of the jurisdiction in which the Propelty is located, The foregoing sentence shall not limit the applicahility of Federal law to this Deed of TlUSt. In tile event that any provision or clause of this Deed of Trust or the Note conl1i0ts with applicable law, such 00nl1ict shall not affect other provisions of this Dced of Trust or the Note which can he given effect without the conl1ieting provision, and to this end the provisions of this Decd of Trust and the Note arc declared to he severahle. As Llsed herein, "costs," "expenses" and "attomeys' fees" include all swns to tl1e extent not prohihited by applicable law or limited herein. 14, 130lTower' s Copy. Borrower shall be furnished a conformed copy of the Note and this Deed of Trust at the time of execution or after recordation hereof. 15, Rchabilitation Loan Agreement. Borrower shall fulfill all of Borrower's obligations under any home rehabilitation, improvement, repair, or other loan agreement which l1orrower enters into with Lender. Lender, at Lender's option, may require I.~orrower to execute and deliver to Lender, in a fonn acceptable to Lender, an assignment of any rights, claims or defenses which Horrower may have against parties who supply labor, materials or services in conncction with improvements made to the Property_ 16, Transfer of the Property or a Beneficial Interest in BonowcL If all or any part of the Property or any interest in it is sold or transferrcd (or if a bencficial interest in 13orrowcr is sold or transferred and I301Tower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full Page 3 of 5 Initial.: ef3,._~. FF-435\ (NF) (0209)