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<br />88- 10692B
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<br />8. CandBmnllllon. The proceeds of any aword or claim for damages. direct or consequentIal, In connection with Bny
<br />condomnatlon or othortnklng ollhe Properly, ortlsrt themot, or for conveyance In lIeu o'eondemnatlon, areherebyaBllgned
<br />and ell9l1 be pold 10 lender,
<br />In Ihe evenl of alotellaklnp of Ihe Property, Ihe proceeds eholl be applied to the sume secured by this Deed 01 Trust, wllh
<br />the B.cess, "any, paid 10 Borrower. In the event of a partial taking of the Propeny, unless Borrower and Lender otherwise
<br />agree In wriUng, there shall be applied to the sums secured by this Deed cITrus' such proportIon oftha proceeds8als equal to
<br />.'hBtPro~ortlon which the amount of the Bums secured by this Deed clTrust ImmedlatelyprlortlJ the date of taking beelrs lathe
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<br />award or settle a claim for damages, SQrrower tails to respond to lender within 30 days after the datil such notice Is mailed,
<br />Lender Is authorized to collect and apply the proceeds, at Lender's option, either 10 restoration or repair of the Property orto
<br />the sums secured by this Doed of Trust.
<br />Unless L9nder and Borrower olherwis6sgree in writing, any such application of proceeds 10 principal shall not extend Of
<br />postpone the due date of the monthly Installments referred to in paragraphs 1 and 2 hereo' or change the amount 01 such
<br />Installments.
<br />10. BonDwer Nol Releaaed. Extension of the time for payment or modification ofamortlzatlon of the 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 i~leresl Lender shall not be required to commence proceedings
<br />against such successor or refuse to extend time lor payment or otherwise modify amortization of the sums secured by this
<br />Deed 01 Trust by reason of any demand made by the original Borrower and Borrower's successors In interest
<br />, 1. Forbearance by lender Not 8 Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />olherwise afforded by applicable law. shall not be a waiver of or preclude the exercise 01 any such right or remedy. The
<br />procurement of insurance 01 the payment of taxes or other liens or charges by lender shall not be a walyer of Lender's nghtto
<br />accelerale the maturity of the indebtedness secured by this Deed of Trust
<br />12. Remedlel Cumulative All remedies provided In this Deed 01 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, independenUy or
<br />successively.
<br />13. SuccH.ora and A.signs Bound; Joint and Several Uabillty; Caption.. 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 hereot All covenants and agreements of Borrower shall be joinl and several. The
<br />captions and headings of the paragraphs 01 this Deed of Trust are tor convenience only and are not to be used to interpretor
<br />define the provisions hereof.
<br />14. NoUce. Except for any notice required under applicable law to be given in another manner. (a) any noticeto Borrower
<br />provided for in this Deed ofTrustshall be given by mailing such notice by certified mail addressed ta Barrower attheProperty
<br />Address or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any notice 10
<br />lendershall be given by certified mail. return receipt requested. to Lender's address stated herein or to such other address as
<br />Lendermaydesignate by notice to Borrower as provided herein. Any notice provided forin this Deed 01 Trust shall be deemed
<br />to hays been given to Borrower or Lender when given in the manner designated herein.
<br />15. Unlform Deed 01 Trult; Goyemlng Law; Sever8blUty. The form of deed of trust combines uniform covenants for
<br />national use and non-uniform 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 or this Deed of Trust or the Note conflicts with applicable law, such conflict shall not
<br />affect other provisions of this Deed of Trust Qrth" Notewhich can be given effect without the conflicting provisions, and to this
<br />end the provisions of the Deed of Trust and the No~e 8(e declared to be severable.
<br />16. Borrower'. CoPf. Borrower Shall.b~'fu'ml~'iJ a conformed copy 01 the Note and of this Deed of Trust at the time of
<br />execution or after recordation hereof., . .. ..1-,. ',' . 6
<br />17. Transfer at the Property; Auumptlon:ll allo"';-any p~rt of the property or an interest therein is sold or transferred by
<br />Borrower without Lender's prior written consent, excluding (aJ the creation of a lien or encumbrance subordinate to this Deed
<br />of Trust, (b) the creation of a purchase money security interest for 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 fa 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 />Lander and that the interest payable on tne sums secured by this Deed of Trust shall be at such rate as Lender shall request If
<br />lender has waived the option to accelerate provided in this paragraph 17, and jf Borrower's successor in interest has
<br />executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligations
<br />under this Deed of Trust and the Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall providea 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 demand on BoiTOwer, invoke any remedies permitted by paragraph 18 hereof.
<br />NON.UNIFORM COVENANTS. Borrower and Lender further covenant and agree a. foUowa:
<br />18. Acceleration; HamedlH. 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 mail notice to Borroweras provided in paragraph 14 hereof specifying: (1) the breach; (2) the
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<br />acceleration of the sums secured by this Deed of Trustand sale olthe Property. The notice shall further inform Borrower oftha
<br />right to reinstate after acceleration and the right to bring a court action to assert the non-existence or a derault or any other
<br />defense of 9orrowerto acceleration and sale. II the breach is not cured on or belore Ihe date specified in the notice, Lender at
<br />Lender's option may declare all of the sums secured by this 0eecI of 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 entiUed to
<br />collect all reasonable costs and expenses incurred in pursuing lhe remedies provided in the paragraph 1 B,including, but not
<br />limited la. reasonable attomey'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 />thereat is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the other
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<br />the Property by publlcannouncement 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. Trusteeshalldeliverto 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. Trusteeshall apply
<br />Ulsproceeds of the sale in the following order: (a) to all reasonable costs and expenses of the sale, including, but not limited to,
<br />Trustee's feesof not more than % ofthegrosssale price, reasonable attorney's fees and costs of tlUe evidence;
<br />(b) 10 all sums secured by this Deed of Trust; and (c) the excess, if any, to the person or personslegslly entitled thereto.
<br />1.. Bonower'. RIght to R.m.teIe. Notwithstanding Lender's acceleration of the sums secured by this Deed of Trust.
<br />Borrower shsll havethe rightto have any proceedings begun by Lenderto enlorce the Deed of Trust discontinued al any time
<br />prior to the earlier to occurol (i) the fifth dsy before thassle 01 the Property pursuant to the power of sale contained In the Deed
<br />of Trust {ii) entry at a judgment enforcing this Deed 01 Trust if: (a) Borrower pays Lender all sums which would be then due
<br />under this Deed of Trust. the Note and notes securing Future Advances, if ~ny. had no acceleration occured:(b) Borrower
<br />cures all breaches of any other covenants or agreements 01 Borrower contaIned in this Deed of Trust (e) Borrower pays all
<br />reasonable expenses incur.red by Lender and Trusteeenrarcing the covenants and agreements of Borrower contained in this
<br />Deed ofTru5t and In enlarclng Lender's andTruslee's remedies as prOVided In paragraph 18 hereol, Including. but not limited
<br />to. reasonable anc.rney"s tees; and (d) Borrower lakes such action as Lender may reasonably requIre 10 assure that the lien al
<br />Ihls Deed of Trust.lender"s ,nteresl in the Property and Borrower's obligation 10 pay the sums saLuted by thiS Deed 01 Trust
<br />shall contInue ummpalred Upon such payment and cure by Bottower.lhls Deed 01 Trust and the obllgAllons !'ecur~d hereby
<br />shall remam In lulllorce and effect as il no acceleration had occurred
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