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<br />Lender and Borrower, subject to the provisions of paragraph 16 h~reof. All covenants and agreements of Borrower
<br />shall be joint and several. Any Borrower, who co-signs this Deed of Trust, but does not execute the note, (a) is co-
<br />signing this Deed of Trust only to grant and convey that borrower's interest in the Property to Trustee under the
<br />terms of this Deed of Trust, (b) is not personally liable on the note or under this Deed of Trust, and (c) agrees that
<br />Lender and any other Borrower hereunder may agree to extend, modify, forbear, or make any other accommoda-
<br />tions with regard to the terms of this Deed of Trust or the Note, without that Borrower's consent and without re-
<br />leasing that Borrower or modifying 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
<br />to Borrower provided for in this Deed of Trust shall be given by delivering it or by mailing such notice l>~' certified
<br />mail addressed to Borrower at the Property Address or at such other address as Borrower may design, '.,' notice
<br />to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail to Lender's uJllreSS slat-
<br />ed herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice
<br />provided for in this Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the
<br />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 J<'eder-
<br />allaw to this Deed of Trust. In the event that any provision or clause ofthis 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
<br />effect without the conflicting provision, and to this end the provisions of this Deed of Trust or the Note are declared
<br />to be severable. As used herein,"costs", "expenses" and "attorneys' fees" include all sums to the extent not prohib-
<br />ited by 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 shalI fulfill all of Borrower's obligations under any home re-
<br />habilitation, improvement, repair or other loan agreement which Borrower enters into with Lender. Lender, at
<br />Lender's option, may require Borrower to execute and deliver to Lender, in a form acceptable tD Lender, an assign-
<br />ment of any rights, claims or defenses which Borrower may have against parties who supply labor, materials or serv-
<br />ices in connection 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 Properly or any
<br />interest in it is sold or transferred (or if a beneficial interest ill Borrower is sold or lransferred and Borrower is not a
<br />natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in
<br />full or all sums secured by this Deed of Trust, However, this option sha11l1ot be exercised by Lender if exercise is
<br />prohibited 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 than30 days from the date the notice is delivered or mailed within which Borrower must pay alI
<br />sums secured by this Deed of Trust. If Borrower fails to pay these sums prior to the expiration of Ihis period, Lend-
<br />er may 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
<br />any covenant or agreement of Borrower in this Deed of Trust, including Borrower's failure to pay, by the
<br />end of 10 calender days after they are due, any sums secured by this Deed of Trust, Lender priOl' to ac-
<br />celeration shall give notice to Borrower 8S provided in paragraph 12 hereof specifying: (1) the breach;
<br />(2) the action required to cure such breach; (3) a date, not less than 20 days from the date the notice is
<br />mailed to Borrower, by which such breach must be cured; and (4) that failure to cure such breach on or
<br />before the date specified in the notice may result in acceleration of the sums secured by this Deed of
<br />Trust and sale of the Property. The notice shall further inform Borrower of the right to reinstate after
<br />acceleration and the right to bring acaurt action to assert the nonexistence of a default or any other
<br />defense of Borrower to acceleration and saJe. If the breach is not cured on or before the date specified in
<br />the notice, Lender, at Lender's option, may declare all of the sums secured by this Deed of Trust to be im-
<br />mediately due and payable without further demand and may invoke the power of sale and any other
<br />remedies permitted by applicable law. Lender shaD be entitled to collect all reasonable costs and ex-
<br />penses incurred in pursuing the remedies provided in this paragraph 17, including, but not limited to,
<br />reasonable attorneys' fees.
<br />If the power of sale is invoked, Trustee shall record a notice of default in each county in which the
<br />Property or some part thereof is located and shall mail copies of such notice in the manner prescdbed by
<br />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 Iluction to the highest bidder at the time and place and under the terms designllted in
<br />the notice of sale in one or more parcels and in such order as Trustee may determine. Trustee may post-
<br />pone sale of all or any parcel of the Property by public announcement at the time and place of any pre-
<br />viously scheduled sale. Lender or Lender's designee may purch&~e the Pl'Operty at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the Il1u'chasm' Trustee's deed con-
<br />veying the Property sold. The recitals in the Trustee's deed shall be r-rima facie evidence of the truth of
<br />the statements made therein. Trustee shall apply the proceeds of the sale in Iha following order: (a) to all
<br />reasonable costs and expenlles of the sale, including, but not limited lo, Truslee's fees actually incurred
<br />of not more than % of the gross sale price, reasonable allot'neys' fees and costs of title evi-
<br />dence; (b) to all sums secured by this Deed of Trust; and (c) tho eXCOllll, if any, 10 lhe person or persons le-
<br />gallyentiUed,thereto.
<br />18. Borrower's Right to Reinstate. Notwithstanding Lender's ucceleralion of Ihe sums secured by Ihis
<br />Deed ofTrusl, due to Borrower's breach, Borrower shall have Ihe right 10 hu\'p un)' proceedings begun by Lender 10
<br />enforce this Deed of Trust discontinued at any time prior to the eurlier to occur of (il one monlh after the filing of
<br />. the notice of default or (ii) entry of a judgment enforcing this Deed of Thlsl if: (ul Borrower pays Lender all sums
<br />which would be then due under this Deed of'l'rust and the Nole had no uccclel'lllion OCCUlTed; (b) Borrower cures
<br />all breaches of any other covenants or agreemenls of Borrower contained in this Deed of Tnlsl; (c) Borrower pays
<br />all reasonable expenses incurred by Lender llnd Trustee in enforcing the CO\'l'n<lnls IIBd lIgrl'emenls of Borrower
<br />contained in lhis Deed of Trust and in enforcing Lender's llnd Truslee's remedil's as providl'd in pllrllgrllph 17 herr>.
<br />of, including, but notlimiled lD, reasonable attorneys' fees; and (d) Borrower lakes well aclionlls Lender mllY reas.
<br />onllbly reqUire to assure that Ihe lien of this Deed of Trust, Lender's interest in tlw Prope,"v und Borrowl'r's obliga.
<br />lionlo pay lhe sums secured by Ihis Deed uf'l'rust shnll conlin\le unimpaired. lIpon sud; 1'''\,I1,,'n' IIl1d ('un' L\' no..,
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