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<br />88-101389
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<br />9. Condemnation. The proceeds of any award or claim fo, damages, direct or consequential, in connection with any
<br />condemnation or other takmg 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 tofal taking of the Proporty, the proceeds shall be applied to the sums secured by this Deed of Trust. with
<br />the excess, if any, paid to Borrower. In the event of a partial taking of the P,o~erty, unless Borrower and Lender otherwise
<br />agree in writing, there shall be appliod to the sums secured by this Deed 01 Trust such proportion :.Jf the 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 />l1!ir market value of the property immediately prior te the date of taking, with the balance of the proceeds paid to Borrower.
<br />It the Properly is abandoned by BorrowAr, or if, alter notice by lender to Borrower Ihatlhe condemnor offers to make an
<br />award or settle a claim for damages, Borrower fails 10 respond to Lender within 30 days after Ihe date such notice is mailed,
<br />Lender is authorized 10 collecl and Rpply the proceeds, allender's option, either to restoration or repair of the Property or to
<br />the sums secured by this Deet! 01 Trust
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or
<br />postpone the due date of the monthly installmenls referred to in paragraphs 1 and 2 hereof or change the amount of such
<br />installments.
<br />10. Borrower Not Releasod. Extension of the time for payment or modification of amortization of the sums secured by th is
<br />Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, the
<br />liaL.lity 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 tH'le 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 lorbtlarance 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 01 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 01 the indebtedness secured by this Deed 01 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 Aulgns 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 hereol. AI! covenants and agreements of Borrower shall be joint and several. The
<br />captions and headings of the paragraphs olthis Deed of T,ust are for convenience only and are not to be used to interpret or
<br />define the provisions hereof.
<br />14. Notice. Exceplfor any notice required under applicable law to be given in another manner, (a) any notice to Borrower
<br />provided for in this Deed of Trust shall be gi ven by mailing 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 />lender shall be given by certified mail, 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 for in this Deed oITrust shall be deemed
<br />to have been given to Borrowe, or Lender when given in the manner designated herein
<br />15. Uniform Deed of Trurotj Governing Law; Severability. The form of deed of trust combines uniform covenants for
<br />nalional use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument
<br />covering real property. Thi') Deed of Trusl shall be governed by the law of the jurisdiction in which the Property is localed.ln
<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 01 this Deed 01 Trusl at the time of
<br />execution or alter recordation hereof.
<br />17, Transfer of the Propel1y; A8sumptlon. II all or any part of the property or an interest therein is sold or transferred by
<br />Borrower without Lender's prior wr Htf:1l '-unsenl, excluding (a) [he creation of a lien or encumbrance subordinate to this Deed
<br />01 Trust, (b) the creation of a purchase money security interest lor household appliances, (c) a transfer 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 />v.hom the Property is to be sold or transferred reach agreement in writing thai the credit of such person is satisfactory to
<br />Lender and thai the interest payable on the sums secured by this Deed of Trust shall be at such rate as lender shall requesllf
<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 Ircom all obligations
<br />under this Deed 01 Trust and the Note.
<br />If lender exercises such option to accelerate, Lender shall mall Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of 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 demund on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
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<br />18. Acc::eteratlon; Remedies, Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower in this Deed of Trust, including the covenants to pay when due any sums secured by this Deed of Trust,
<br />Lender prior to acceleration shall m::lil notice to Borrower as provided in parag'aph 14 hereof 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 10 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 01 the sums secured by this Deed of Trust and sale 01 the Property. The notice shall further inform Borrower 01 the
<br />right to reinstate alter 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 of Trust ~o be immediately due and payable without further
<br />demand and may invoke the power of sale and any ot.her 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 default in 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 applicable 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 parcels and in such order as Trustee may determine. Trustee may postpone sale of all or any parcel 01
<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 of the price bid. Trllstee 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 of the sale in the following order. (a) to all reasonable costs and expenses of the sale, including, but no: 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 />11. BorJow..... Right to R......... Notwithstanding Lender's acceleration 01 the sums secured by this Deed of Trust,
<br />Borrower shall have the right to have any proceedings begun by Lender to enforce the Deed of Trust discontinued at anytime
<br />'prior to the earlier to Occur of (i) the fifth day before the sale of the Property pursuant to the power of sale contained in the Deed
<br />of Trust (ii) entry of a judgment enforcing this Deed 01 Trust it: (a) BOHower 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 of Borrower contained in this Deed 01 Trust Ie) Borrowe, pays all
<br />reasonable ell.penses incurred by Lender Bfld Trustee enforcing the covenants and agreements of Borrower contained in this
<br />Deed of Trust and in enlolcing lender's and Trust~'s remedies as provided in paragraph' 8 hereof, including, but not limited
<br />to. reasonable i\ltorney's feas; and (d) Borrower takes ~uch action as lender may reasonably reqUire to assure that the lien 01
<br />this Deed 01 Trust, Lender's Inlerest 1[\ tho Property and Borrower's oblig8tiollto pay the sums secu,ed by thiS Deed of 1 rust
<br />shtill conHfH.." unimpaired Upon such payment and cure by Borrower, thiS Deed of Trusl and!lW oblIgations :;ecured hereby
<br />sholl remllill In tull fOlcQ nnr1 oiled as " no accolOlahon had occurred
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