|
10100
<br />by this IIced of trust immediately prier it, the date of taking bears to the fair market value of ttie Property immediately prior to the (laic of
<br />taking, with the balance nt the proceeds paid to Borrower.
<br />If the Proptr.v if .^.ban:: ned h," Borrower. Ot if, after u :,tic by Lender to Wiff .wet !itat the a HJUJIum offers to snake an award or settle a
<br />claim for damages. Borrower tails to respond to Lender within 30 days after the date such notice is mailed, Lender is authorized to collect and
<br />l apply the proceeds at 1_endc s option either to restoration or repair of the Property or to tite sums secured by this Deed of Trust
<br />Unless Lcnder and Borrower otherwisc agree in writing, any such application of proceeds to principal shall not extend or postpone the due
<br />date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such instailmer,s.
<br />10, Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured by this Deed of Trust
<br />granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and
<br />Borrower's successors in interest, lender shall not be requited to commence proceedings against such successor or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand made by the original Borrower
<br />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 otherwise afforded
<br />by applicable law, shall not he a waiver of or preclude the exercise of any such right or remtdy. The procurement of insurance or the payment of
<br />taxes or other liens or charges by !.ender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this
<br />C Deed of Trust.
<br />r 12. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedv tinder this
<br />Deed of Trust or afforded by law or equity, and may be exercised tunci, gently, independently or successively.
<br />13. Successors and Assigns Round; Joint and Several liability; Cuptions. The covenants and agreemcnts herein contained shall hind, and
<br />the rights hereunder shalt inure to, the respective successors and assigns of Lender and Borrower, subiect to the provisions of paragraph 17
<br />hereof. All covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragraphs of this Deed of Trust
<br />[ are for convenience only and are not to be used to interpret or define the provisions hereof.
<br />t 14. Notice, Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided form
<br />this Deed of Trust shall be given by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address
<br />as Borrower may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail, return receipt
<br />requested, to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any
<br />notice provided for in this Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Uniform Deed of Trust; Governing Law: severabli ty. This form of deed of trust combines uniform covenants for national use and
<br />non- uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. This Deed of
<br />Trust shall be governed by the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Deed of
<br />Trust or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Deed of Trust or the Note which can be
<br />given effect without the conflicting provision, and to this 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 execution or
<br />after recordation hereof.3
<br />17. Transfer of the Property; Assumption. If all or any pan of the Property or an interest therein is sold or transferred by Borr mer
<br />without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this Deed of Trust, (b) the creation of
<br />a purchase money security mitres: for household appliances, (c) a transfer by devise, descent or by operation of law upon the death of a ictint
<br />tenant or (d) the grant of any ieasehold interest of three years or less not containing an option to purchase, Lender may, at Lender's option,
<br />declare all the sums secured by this Deed of Trust to be immediately due and payable. Lender shall have waived such option to accelerate if.
<br />prior to the sale or transfer, lender and the. person to whom the Property is to be sold or transferred reach agreement in writing that the credit of
<br />such person is satisfactory to Lender and that the interest payable on the sums secured by this Deed of Trust shall be at such rate as Lender shall
<br />request, If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has executed a
<br />written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligations under this Deed of Trust and
<br />the Note.
<br />3
<br />If Lender exercises such caption to accelerate, Lender shall mail Borrower native of acceleration in accordance with paragraph 14 hereof,
<br />Such notice shall provide a period of not less than 30 days from the elate the noti�v i, mailed within which Borrower may pay the sums declared
<br />due. If Borrower fails to pay such sums prior to the expirafsnn tit such period, t. rider may, without further notice or demand on Borrower,
<br />invoke any remedies permitted by paragraph IA hereof.
<br />NON- UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />18. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of
<br />Borrower In this Deed of Trust, including the covenants to pay when due any sums secured by this Deed of Trust, Lender prior to accelerstion
<br />shall mail notice to Borrower as provided in paragraph 14 hereof specifyiug: (1) the breach; (2) the action required to cure such breach, (3) a
<br />date, not less than 30 days from the date of notice Ls mailed to Borrower, by which such breach most be cured; and (4) that failure to cure such
<br />breach on or bt(orc the date specified in the notice may result in acceleratio n of the sums secured by this Deed of Trust and safe of the Property.
<br />The notice shall further inform Borrower of tite right to reinstate after acceleration and the right to bring a court action to assert the non.
<br />sMIS
<br />fewer of a default or any other defense of Borrower to acceleration and sale. If tise breach is not cured on or before the date specified In the -
<br />notice, Deader at Lender's option may declare all of the sums secured by this Deed of Trust to be Immediately due and payable without further
<br />demand and may Involve the power of suit and any otber remedies permitted by applicable fast. Lender sball be entitled to collect all reasonable-- -
<br />costs and expenses Incurred to pursuing the remedies provided to this paragraph 18, including, but notiltnited to, reasonable attorney's fe-
<br />If the power of ssk Is invoked, Trostet shall record a notice of default to each county in which the Property or some part thereof Is ioated
<br />and shall mall copies of such notice in the manner prescribed by applicable law to Borrower and to the other persons prescribed by applicable
<br />law, After the lapse of such flat ut may be required by applicable late, `trustee shall give public notice of sale to the persons and In the manner
<br />prescribed by applicable law. I ruster, witho it demand on Iorrower, shall sell the Property at public auction to the highest blddrr at the time
<br />sad place and under the terms designated in the notice of We to one or more parcels and in such order as Trustee may determine. Truster may
<br />ynslpoat sae of all or any parcel of the Property by Public tanauactmtnt at the time and place of any previously scheduled suit, Lender or
<br />l.tnder's d"11311at may purchase Ike Property at any sale.
<br />tlpcns rettipt of payment of Ike prier bid, Truant shall deliver to the purchaser Trustee's deed conveying the Property sold, The recitals In
<br />the lrumm's deed skull be prima fait evidence of the truth Of the sinfrmrots made (hr em, I rustler shall apply the proceeds of the +rate In the
<br />tfngnwing order: (at to all reasonable costs and expenses of the sae, Including, but no. limited sa), Trusttr`s fees of not more thin, r =t
<br />of the grout sale price, reasonable titu►ney's fees and rtwts tot title evfdenrtr tit) it, all sums secured by this I)rtd u( (rust; and iv) the rxrrs , If
<br />arty, to the petsffn ur persons Irtla(ty entitled therrio
<br />IN Nocrnwpr s Night Its Nrinsiate "14t.1 , f set -o' I❑ : .Rr 40111 r ur:,i 1}j. d ni,, ti.[rt,1- •.11,01 r• S, i
<br />_,:t l[r <iyt. �.. }'. r• .f r.i �.'r .,.,t r.,y,.r � .. 1'
<br />. :f.f=}..t. -., , . -L, n,r , {.r ., twr : , >r .,.Art - ,qC,r {vu.a ._ [�rle- ,�,i .its t.a .,f r• I��i. (Styr ii , I,.f.a tjr t ,•,.z t ,c - ,_ to_� .
<br />o - [ ., , -h _ s .dx,1
<br />
|