|
<br />r
<br />
<br />!~
<br />I
<br />
<br />~
<br />~ 4
<br />~,
<br />~
<br />~
<br />
<br />6, Emln.nt Domain, Lender IS hereby a.slgned all campon,allOn, awards. damages and other payments or relier (her!~:~~:;0!91~ ~n~cfio with
<br />condemnation or olh~r taking of the Property or part IheroDI. Of 10f conlJeyance In lieu 01 condemnation Lender shall be entitled at its optio., .0 commence. appear in and
<br />prosocute In lis own name any atU!)n or proceedings. and 5hall also be entllled 10 make any compromise or setllemenl In connection with such laking or damage. In the
<br />ovenl any portion 0' the Proper1y is. so laken or damaged. Lender shall have the option. In Its sole and absolute discretion. to apply all such Proceeds. alter deducting
<br />ther~from aU cos.ts and oJCpenses incurred by it in connection with such proceeds. uiJon any Indebtedness secured hereby nnd in ouch order as Lender may determlne.orto
<br />apply all SUCh Proceeds, aUer .suCh deductions, to the restoration 01 the Property upon such condi1ions as Lender may determine, Any application of Proceed to
<br />Indebttioness shall nol extend or postpone the duo dato of any payments under the Note, or curo any default thereunder or hereunder.
<br />
<br />7 Per10rmanCI bf ".nder.ln the event of Borrower's failure to perform any of the covenants herein or make any payments required hereby, or if any act i5 Ie .cen or
<br />legal procoedingcommencod which materially afleet! Lender's lnterostln the Property. lender may In 115 own discretion, but without obligation 10 CO 60, and without naUce
<br />to or demand upon Borrower nnd without releasing Borrower rrom any obligation. do any act which the Borrowor l'Ia5 agreed but falls to do and may also do any other oct it
<br />deems necessary to protect the security hereof. Borrower $ht\lI. Immedlatelv upon demand thereror by Lender. pay to Lender all costs and expenses incurred and sums
<br />e.-ponded by lender in conncc11onWlth the eXQrclse by Lender 01 the foregoing rights, logether with In1eres1 thereon at the rale provided In the Note, which shall be added to
<br />Ihe IndobtctdneS5 secured hereby. Lendar shall n01 incur Bny personalllabillly because of anything it may do or omit to do hereaJnder
<br />
<br />8 r:..n'. of o.taun. The following $hBII tonslilul& an evenl or delault "odor this Deed of Tru.t:
<br />
<br />(0) Failure to pay anv installment of prinCipal or Inrorost or any other sum !.ecurcd hereby when due, or failure to pay when due any othl;tr indebtedness 01
<br />Borrower to lender;
<br />
<br />(b) A breach of or default ~nl2er any prO\(I~lon contained 10 the Nola thiS Deed of Trust, any document which secures the Note, and any other
<br />cr'lCum!'Jranco upon the Property:
<br />
<br />(c~ A wrltof olllecution or attaChment or any SImilar proce,s shall be e'ltcred agalOst Borrower which shall become a lien on 1he Propp,.ty or any portion
<br />thereof or Interest therein,
<br />
<br />(d) There shall be filecJ by or DgalOst Borrower on achon lmOer any present or future ladersl. stale or other statute. law or regulation relating to
<br />bankruptcy. insol\lency or other 'elief ror debtors.; or thoro shall be appOInted any 1rualet' recOlver or IIQuidalor 01 Borrower or DI all or any part of the Property. or
<br />ttle rents, issues or prohl!llhereol. or Borrower sholl make any general assignment for rhe benefit 01 creditors.
<br />
<br />Ie) The sale. trant'or, os.signmcnl con\leY8nce or further t'ncumbrance of all or any part of or any toterest In the Property. either voluntarity or
<br />Involunlarily. witnout the expross 'tII'f1Uen consent of Lenr10r
<br />
<br />(f) If Borrovntr 1'5 not an individual. the s..IlIln trun!lor llulgnmont r:onvoyancu 0' encumbrance of more Ihan _ percent of (It a co, p....,ration) US
<br />
<br />UISUO:d and outstanding ~toctl: Of ill a par1nerShlPI percen1 01 par1nr-rshlp Intorcsts
<br />
<br />9 a..........; Aeeel.r.don Upon Der.u.It. In the evanl 0' an... E....~nl 0' ocr null Lmldtr mey declare all mdebtedneC5 secured hereby to b~ due and payable and the
<br />same Shalllht"eup"n become due and payable without any pres.enlmanl dem.9lnd P,otQo.l or nohce of Bny kmd Thereafter Lender may
<br />
<br />ll!'l) Domand that Trulfeee.erCt!le the POWER OF SALE gultlled horeln and T ruslee Shnlllhcreafter cause Borrower" Interest In thoPropeny totJe'Sold
<br />anD U\O proceeds lo~" distributed, all m Iho manrler prolllcJed In the NDbrnstca fru!ol Deeds A-:l
<br />
<br />(b) Either In pCBOn or by 8g8m. with O' wllhou1 l)(In9109 any Bellon or prOCO('ldlng PI bV a JecelVur appolnled by a court and without regard to the
<br />aooQuacy or lis !J,ecurlty. enter upon nnd t.1kepossa1~uon ol1f1e PlOpef1y or lIny pDrllrwrool In lis own nama or 10 ttJenameollhe Trustf. ' anddo any acts which
<br />~t d&lIml necMsAry Or deSirable to prD:t;erve tho value marketability Of rontnblhty 01 the Property. or par1thereof or Interest therein, Increase the income
<br />Ih~refrom or protect (l1~ St'cufltv hereof and. WIth or 'Nllhoul1aklng po:nEl~"lan of the Prope-rtV sue for or otherWise collect the rents. Issues and proht5lhereof.
<br />including those pasr due and unpaid. and applV the ~.:J.nle leu cosl~ and e...ptmse~ of operation ar.d collection Includltlg al1orneys' fees. upon any ml:!ebtedness
<br />'e(:ulf1d herob)', all '" lIuch order as lender may dctarmlnc- Th(t C!n1cr'"lJ upon anC1IH'-lng possess,on ollhe Property. the colleCllOn of Such rents, Issues ant!
<br />prolll' and the ltPt/hc8tlOfi thereof as aforesaId. shall not cure or walYC Bn... C1ulaull or nollce 01 delaull he-reunder or Invahl2ale any act done m response 10 such
<br />default or pl.lrluantlo such nollCe or defaUIl .1-nd, nOlwtthstanUIOQ rhe conltnlJftnclJo In po~!.esslO" of the Property or 1he collectIOn lece.pl and appllcatlO., of
<br />reft", 1$IueS Dr pfoflti. T'ustee.at landt'r ~h411 be eflHUed 10 C,IlNtl:'1'l t'!'\'tn'l' rlqhl prorlded !or If1 any of thr:, loan Instruments 01 by law upon occurence 01 any
<br />evenf of dfJfauU. including Ine nqht 10 tt.-urCI'!lft Iho pow", ol ~...l... and
<br />
<br />Ie} Commsnce an action to roroc:tOlO thlll Deed of rru~t AS. a mOf1Q~gc "DPOlnl ~ receIve' at speclhc.ally enlorce an)" of !he covenants hereof
<br />
<br />No remody herelOcon'erred urnn or rea~.....e" 10 TruSlaE' or Lender I' In1r.~fland to Iw e.cl\J5IV~ 01 anv athe' romi}dy neretn orbv law prOVided or pe-rmlt1ed. Oul each shall be
<br />cumulatl~e-, shall be '" add'llon to every other remol1y Q1Vf!" he'rIJI"Hfe, or noV\l Of 'lllrlPallf.\f (.,...,stlng alia,^, at In eqUity or by s1atu1e and may be e.erClsea concurrenllV.
<br />Independently or IUCCNt'VOlr
<br />
<br />10 T"".... T'liQ' TrUlt.t1tt may ,uIlgn iU an., time WIthout C;lIJ'W and Ll;"f~at'r m.ly f~ll1"V 1,mtlllno w:lt"tQul cause appomt a 1iUCces.sor Cf SUD511tute Trus1t"e r'U51ee
<br />!lnall not be liable for any k;t$s 0" d~m.gt'! vnlnlt dil'tl 10 ftt:f'1]Ilable n....9Ilq('n(:1.l Qr .,.,111\11 ml!ioCOf'l<Jllcl <tno ~rlfl" !la' 0,;:0 r('lqUlrOd to lake any actIOn In ronm~(tlon wan me
<br />snforc.emttnt of tnis Oett(3 of Ttust un/en UKtemnlhea In WrltlnQ lor all cutts, compll1'fl!ilUlon or elpcn'C5 whICh mny bee 8SS0CIl]lt}O IherewIf'1 In ad(jIIJon Trus1ee mar
<br />become 8 purct\eus-.er at any salo of the PrO'Pf!'rfy jJudl<;Jl]l or un(Jp.r Ihe pow"" of lj,81~ grliJnleC1 rH~rflln) pO!tJpon6Ih~ sale 011111 (lr an;, portIon oj lhe p'operty 0:5 prOYld~ oy law
<br />or &.ell ~he Property AI . whOle, Of In IWP811to parcel! or 101'1
<br />
<br />f 1 FutureAdw8nen.. Upon "oqlJftSI 01 BorrowflIr Ler1dl)1 may all" OPll(Jf'! mah! ,,{1[jllion..1 and fulutv llcJ\lanc",~ and 'eac;fvanc:eslo BOHoiIVcr SUCh adllanct:S and
<br />reB11vance5l. WIth tnterM' thCfet1n. !iJU.S1I tNI !<<ur(td by thi!S Oettd of rru~lI A.l no tlmfl !$hallth~ 'HlrlClp~.f amount of lhe lfioflblp.dn,-"s!o securc-d bV thiS Deed of Trust. nol m~
<br />
<br />eluding 5um-s aOvanceclto protlrCttf1e ~eCUf11V{)1 thiS (){I'f!(J of Tn.J!5t OH;fif-fJ Itle 0'10'"01 p1ln( Ipnl .lmOlln1 !>lahH1 !'em'" or i. 5.5_-1' 000__ 0,0. whi.che\o"ens
<br />grellter
<br />
<br />12 1II_I'rooIsloM,
<br />
<br />l
<br />l
<br />Ul,
<br />J
<br />
<br />(el Borrower Not R.......... EIlt!tt"SIOTl of 1he 11me fo, ~utyf'1lf!'nl 01 mnd",(..)hon 01 ,ltllt}rh:alll.lfl ot tt1e sums ~t'"(:ul{'d by thl" Oe!?'O of Tru'S! grantel2 by
<br />Lender to ony !5lJct;~:lior I" tnlen"! of Borrower ~n.aU 110t op~rllli11O- rolo.no In ""v ntolnn('" 1"l' haDtlll.,. of trre ongmal Borroilt'et :10" Oorrower.'S successors:n
<br />mtcrMt lender Bhall not be requlJe~ 10 commttnce proc>ocdlTH}S "gamsr 5UCn !I~IC{~l!'1i~(Jf <H 'f~'u5e toe_lend !Ime lor payment or otherWise mod.,y amor1tzatton
<br />of tho sums. 'Secured oy Uus Deed of Trull by rfl-l'ISt)fl of jJTly Ollmanl2s m.aOl-\ hv lho orlgll\al Elorrowl!t and Bo'rowE!"~ SUcc.CS!lors In IOlcfest
<br />
<br />(0) Lerws.r'.Po..rl. Without af,rEoct,t1q lhltt IiAblhtv 01 any o1J'lfl'r 1l~ll)o.n hAhlt" '01 fh~ paylnenl of anV abhgatwn hNI:ln m~"tlon~a, and WlthO\JtftffecllOg
<br />!hohon or charge 01 tnlS O,.,ed of Tr;Jsl upon an-,' oor110n of Inl(' P'Opi"!'ft", l"Iot tnrn 01 thert,'loI01"t relense(l a$ securltV for the full amount of all unpatdOblJgal1ons.
<br />Lender mil.,.. 1rom1lme to "me ana wltf'.oul notice III f't"lffaw a"V pr,son so habit- ill] u.teno theo ""uunt',' or aller any o11he lerm~o13nV such obliga110ns., (ui)
<br />grant Olh~r IOdulge-nccs.lhtl rttIClJ$t! 01 rerconvt+y elf Cn.U5P. ro h-~ releaseO Of H"COfl\l'~yt)c1l1llJn'r' IImttn1 LenOtir.5 optlon!.l1ny parcel. portion or all of the Property.
<br />(v) lakoor re1ell1eany other or aOOlhonll1 secunly lo! any onhqal,on hf"'91:1 ",IPnhnnt~d or 11m makl! comp05lll0ns or oth(lr arrangemen1s With debtors In retatlon
<br />thereto
<br />
<br />(el FotINar8nc.." Lender Not. W.'..r. Any lOfOe4rance OV Lendel In P.1~HcISln9 !In.,. flghl Of r('lmeay nCfeundCI Of otherWise aUord.:d by applicable
<br />low, ,hall n01 be Pl Watye, at or prec.lu<Je- mEt f;ojll~JC.lse (Jt It"v SIJ<,h rig'" or '-emt'o'.,. The- PIOCu't:'!lne-l\1 ollnflurance or the payment of laxe~ 0' o1her hen!. orchargt!.!o
<br />bV Lender snail not be a ..,al-,&t ot L.n(]~1 !:i tllj.Jhl to "'cct"I~'-otf:lthe mi'llurc1'r' of Ihe 'ndcb1cdnf.~"S secured bV thl's Deed 01 Trust
<br />
<br />(d) lueceuorl and AI..,n. Bound: Join' and Sft"e'ral L'-bl1lty: Caption". The cavenan'!:. and agreements herein conlaln"td shall blrld and 1he ngtlts
<br />hereunder .haJJ .nur" 10. tne re,.pech"lle !IUCCt.."ors bna ,u5Ign~ 0' lltnOoN and S.on-uwer sub/pcl to lf1e provl~lon5 of paragraph 8 f~l hNCOJ An COVf.onants .ana
<br />agreomenlaot Borro*er snail be 10"'1 .n<:t sev~ral Tht" capllOns ann headings, 01 Itle paHtgraphs of !hlS OeE'd of TrU!lt are lor con__enlf!'nCe on1V and Brf'nottobe
<br />Us.ed to mlerp-m~ 0' de11~ the prO'll51OI"1'I he'tl'ol
<br />
<br />(e) ~IOtHobc... The Pllr1lft5 ~reby rM:tuP's.l Thai it copy of any notlCf~ 01 oelault hereunder and a COpy oj af'ly nollCIf' 01 saIl' hmPlJn::t~1 b(' mi'lr'!'Clto
<br />each par'y10 thiS- Deed of Trust 4t Ulfl aUdreiS 6ft! rorth sbolf'"," .J11he manne' presc"t)o!!od 1,V apphC.3Me laVtl Ekcept fOr nn'f Olher n011C(1 '~q~JlINJ under applicable
<br />law 10 be QI'tI'en In another milnntU, any notice prOlllded lor m ItlJ5 Deed 01 Tf'U$f 'ih.all be g"..fm by maIling suct! nc..hc-o by cer1lflf'l1 mAll M1dr(>~~e(j to ttlf.' O'h~!,
<br />partttts. 81thII' .adl2reu sat rOtth ab!l'Ve
<br />
<br />Any nOlle.. prOvided lOf to thll Oftotd ot TFust st!i!U be oeen'ed to have been 91\'e''' 10 Borrower or LendeH wnen gIven Irllh{! mantl['" <:IuIgnnt(ld "4)I"'ln
<br />
<br />If) tft~tloft.lencJ&r may make Of CBul(l1O be made roa~onablee"lne' upon and In:!.per.;tIDr" of Ihe Properly provlfl,'(! ,1\A1 Lrnd,., Shllll gl~ 80nO.....(.f
<br />noUce prIM to Itly sue" Inspeoc:llon specl1ylnl} reasonable cause ttw-refor H~lftfeo 10 Lrond.e-I '!l InHne:n In the Property
<br />
<br />(g) IIlKon..,anca, Upon p.!W"menl of ail '-\Jms Sl"cured bV UHS Oce-d of T 'ulIl lpndet !hhall reQues.l Tru!>Wt~ 10 l[lcunVf!y Itll(! P'upmtr and ,hall '5urrl'!ndm
<br />Ihtl D.lttd 0' Tfu!t And.1l "otflll e1r'li3ol"nclng If\debt~dnon :seCUf(ld by thl& Deed 01 TruGliO T'ustee lI'ush~p shall r~cofH..p.,. Iht.' Pru{)l"11'I' 'WIthout wJUrllnly ;aru,
<br />~iltloul chafge '0 the perlon Of persons IfrQBlIy entlllftd ln~reto Sue" pl!l'tO"'\ 01 PN&OrlS snail pay 3:11 CO~15 of rrcordllllon I' ill.l)
<br />
<br />Cht ".r.onal"ottert,. SRl,lrtt, Agr...-.nt. As IJdditiona~loecunl)' for tne paymenl ollhfl Note all flJ:1ures "Qulpmf!n1 nna Dlh('lr l~("fbonlll property \J!iel1
<br />In connoctlon Ifrlth tho re-.al es1.teot Jmpro1ftlmenl..~ocatet1lher.eon Ind not otherWise Clpctarel1 or deemod 10 be 8 pl1rtol the l(Ioal e!.tJUf,o !!i'pelfl,,-:::! ht~tiP,bv !It)ell ht~
<br />lubtGC!to. seCl1nt.- InterQ1 in f.yor oflhe Lender undf'r the Ne-blast..a Ur'lfOfm CommerCial Code ThIS In!!!olrum.,nt shall h~ con~!rli~f!,,~ D Sf'C'Urlt'1' Agrrl~m1'!nt
<br />urldof 'a.l.d eMt!'. and If..of! Lander ,stl0U hill"" aU 'thlJ! "'Qhf..na remfHjl~!J. of a fofocura-d j:i.lt.rl)llJndol !laid COdt! 1(1 odd/lion to tho r1Qhltl fino l,olll,-Oll'S. c:rNIIp.11 \J"a,.,
<br />and "CC-Qn;:i~ m.,- f.,~nd,", PVIl\,lIlnt ta Inl!! Oe-m1 af T tlrit
<br />
<br />(I) s..ntalllr.ifJ. In thP ewtnt that aO)l pfO'W'"ion .of thl! Ot"ed ol1'ru!it .ccmtlltl w,th 8PP"cabl~ lilW or 8re declared tn~'alid or othf'lf\illll'~ une>n'OH"-n~hlf1 thfCfl
<br /><:0".IIC1 O' InVllllidity ,full nOl11tE'ct tnfJ Ol",u pr-O"fl"Ons.ofthl!l Dfl'!lO of Trur.l 01 tho N01~ whIch CAn bto Q.ve-n etfocl Wllht:)ul1hc confllct'ng prOVI!lH:m .,nC to lhl~
<br /><<'1'1d t?'IO p'ovla,IOno. 01 the Opttd of tr\,t, Rnd thfl NOle ar~ declare(] 10 be snverabl('>
<br />
<br />tJI)1ro,..,r p)*, -r.l!'r.l/tlll'd 11'11' O~ttd ot 1 ru!>t '~daln ",'!Her' IIbove
<br />
<br />y1 ~1JI,' IJ /, ,11/ "" /i j~:.-,.,
<br />'/z y " ..l. IU,~
<br />_ '-._ _ '" ,.." Lat." ,__ , {-[/[ ,_' "
<br />( Philli .Jot VanDeWall\!to...,
<br /><::"., Q 'r j') ~"1
<br />'(.J-:f.J..lLI, eeL, .v,rj_:J ~QQ,:Ld:.lc,,-\..LLL
<br />:stlella~~7 anDeWaler.}ow.'
<br />
|