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<br />87- 107131
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<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of the Property, or part thereof. or for conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to lender. ...
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Deed of Trust, ~Ith
<br />the exceSs, if any, paid to Borrower. In the event of a partial taking of the Property, unless ~orrower and lender ?therwlse
<br />agree In writing, there shall be applied to the sums secured by this Deed oITrust such proportion olthe proceeds as IS equal to
<br />that proportion which the amount of the sums secured by this Deed of Trust immediately prior to the date of taking bears to the
<br />fair market value of the property immediately prior to the date of taking, with the balance of the proceeds paid to Borrower.
<br />I! the Property is abandoned by Borrower, or if, after notice by lender to Borrower that the condemnor offers to make an
<br />award or settle a claim for damages, Borrower fails to respond to lender within 30 days after the date such notice is mailed,
<br />lender is authori;?:ed to collect and apply the proceeds, at lender's option, either to restoration or repair of the Property or to
<br />the sums secured by this Deed of Trust.
<br />Unless lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend or
<br />postpone thr~ due date of the monthly installments relerred to in paragraphs 1 and 2 hereof or change the amount of such
<br />installments.
<br />10. IIQrrower Not Rctleased. Extension of the time for payment or modification of amortization olthe sums secured by this
<br />Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner! the
<br />liability of the original Borrower and Borrower's successors interest. lender shall not be required to commence proceedings
<br />against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this
<br />Deed of Trust by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />11. Forbearance by Lender Not a Waiver. Any forbearance by lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law. shall not be a waiver of or preclude the exercise of any such right or remedy. The
<br />procurement of insurance of the payment of taxes or other liens or charges by lender shall not be a waiver of Lender's right to
<br />accelerate the maturity of the indebtedness secured by this Deed of Trust.
<br />12. Remedies Cumulative All remedies provided in this Deed of Trust are distinct and cumulative to any other right or
<br />remedy under this Deed of Trust or afforded by law or equity, and may be exercised concurrently, independently or
<br />successively.
<br />13. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein
<br />contained shall bind. and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. AU covenants and agreements of Borrower shall be joint and several. The
<br />captions and headings oflhe paragraphs of this Deed oITrust are for convenience only and are not to be used to interpret or
<br />define th!! provisions hereof.
<br />14. Notice. Exceptfor any notice required under applicable law to begi..en in another manner, (a) any notice to Borrower
<br />provided for in this Deed oITrust shall be given by malhng such nollce by certified mail addressed to Borrower at the Property
<br />Address or at such other address as Borrower may designate by notice to lender as provided herein, and (b) any notice to
<br />fender shall be given by certified maif, return receipt requested, to Lender's address stated herein or to such other address as
<br />Lender may designate by notice to Borrower as provided herein. Any notice provided lor in this Deed of Trust shall be deemed
<br />to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Uniform Deed 01 Trust; Governing Law; Severability. The IorIO of deed of trust combines uniform covenants for
<br />national use and non-unilorm covenants with limited variations by jurisdiction to constitute a uniform security instrument
<br />covering real property. This Deed of Trust shall be governed by the law of the jurisdiction in which the Property IS located. In
<br />the event that any provision or clause of this Deed of Trust or the Note conflicts with applicable law, such conflict shall not
<br />affect other provisions of this Deed of Trust or the Note which can be given effect without the conflicting provisions. and to this
<br />end the provisions of the Deed of Trust and the Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Deed of Trust at the time of
<br />execution or after recordation hereof.
<br />17. Transfer of the Property; Assumption. If all or any part of the property or an interesltherein is sold or transferred by
<br />Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordlOate to this Deed
<br />orTrust, (b) the creation of a purchase money security interest lor household appliances. (c) a transler by devise descent or by
<br />operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less not containing an
<br />option to purchase, Lender may, at lender"s option, declare all the sums secured by this Deed of Trust to be immediately due
<br />and payable. Lender shall have waived such option to accelerate if. prior to the sale or transfer, Lender and the person to
<br />whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to
<br />Lender and that the interest payable on the sums secured by this Deed of Trust shall be at such rate as Lender shall request I!
<br />Lender has waived the option to accelerate provided in this paragraph 17. and if Borrower's successor in interest has
<br />executed a written assumption agreement accepted in writing by lender lender shall release Borrower from all obfigations
<br />under this Deed of Trust and the Note.
<br />I! Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period 01 not less than 30 days from the date the notice is mailed within which
<br />Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period, Lender
<br />may. without further notice or demand on Borrower. invoke any re''ledies permitted by paragraph 18 hereof.
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<br />NON.UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
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<br />18. Acceleration; Remedies. Except as provided in paragraph 17 hereof. upon Borrower's breach of any covenant or
<br />agreement of Borrower tn this Deed of Trust. including the covenants to pay when due any sums secured by this Deed of Trust,
<br />Lender prlorto acceleration shall mail notice to Borrower as provided in paragraph 14 he.eof specifying: (1) the breach; (2) the
<br />action required to cure such breach; (3) a date, not less than 30 days from the date the notice is mailed to Borrower, by which
<br />such breach 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 Trustand sale of the Property. The notice shalllurther inform Borrower of the
<br />right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other
<br />defense of Borrower to acceleration and sale. If the breach is not cured on or before the date specified in the notice, Lender at
<br />Lender's option may declare all of the sums secured by this Deed 01 Trust to be immediately due and payable without further
<br />demand and may invoke the power of sale and any other remedies permitted by applicable law. lender shall be entitled to
<br />collect all reasonable costs and expenses incurred in pursuing the remedies provided in the paragraph 18. including, but not
<br />limited to, reasonable attorney's fees.
<br />If the power of sale is invoked, Trustee shall record a notice of defaul1 i'l each county in which the Property or some part
<br />thereof is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the other
<br />persons prescribed by apr>licable law. After the lapse of such time as may be required by applicable law, Trustee shall give
<br />public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower,
<br />shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice
<br />of sale. in one or more parcefs and in such order as Trustee may determine. Trustee may postpone sale 01 all or any parcel of
<br />the Property by public announcement at the time and place of any previously scheduled sale. Lender or lender's designee
<br />may purchase the Property. at any sale.
<br />Upon receipt of payment olthe price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property sold.
<br />The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply
<br />the prOceeds olthe sale in the following order.. (a) to all reasonable costs and expenses of the sale, including, but not limited to,
<br />Trustee's fees of not more than % of the gross sale price, reasonable attorney's fees and costs of title evidence;
<br />(b) to all sums secured by this. Deed of Trust; and (c) the excess. if any, to the person or persons legally entitled thereto.
<br />1.. Bonower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Deed of Trust.
<br />Borrower shall have the rightto have any proceedings begun by lender to enforce the Deed aITrust discontinued at any time
<br />prior to the earlier to occur of (il the fifth day before the sale of the Property pursuant to the power of sale contained in the Deed
<br />of Trust (ii) entry ofa judgment enforcing this Deed 01 Trust I!: (a) Borrower pays lender all sums which would be then due
<br />under this Deed 01 Trust, the Note and notes securing Future Advances. if any, had no acceleration occured:(b) Borrower
<br />cures all breaches of any other covenants or agreements 01 Borrower contained in this Deed of Trust. (c) Borrower pays all
<br />reasonable expenses incurred by lender and Trustee enlorclng the covenants and agreements of Borrower contalOed in this
<br />Deed of Trust and In enforCing lender's and Trustee's remedies as prOVIded in paragraph 18 hereol. lOeludlng, but not limited
<br />to. reasonable al1omey's fees, and fd) Borrower takes such achon as lender may reasonably reqUIre to assure that the hen of
<br />this Deed of Trusl. lender's '"teres! in Iho Property Bnd Borrower's 001l9allon to pay the sums secured by thiS Deed of Trust
<br />shall continue unlmpallll'.l Upon such payment and cure by BorrowlH Itlll' Deed of rft,sl "nd Ihe obl'9"I,on5 secured heloby
<br />shall rema," .n '\ill force "nd eHect as II no accelerahon had neeuII""
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