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87- 101266
<br />uy this Deed of Trust immediately prior to the date of taking bears to the fair market value of the Property immediately prior to the date of
<br />taking, with the balance of the proceeds paid to Borrower.
<br />If the Property is abandoned by Borrower. or it, after notice by Lender to Borrower that the condemnor offers to make an award or settle a
<br />claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is mailed, Lender is authorized to collect and
<br />apply the pr otreds. at Lender's option, either to restoration or repair of the Property or to the stuns secured by this Dad of Trust.
<br />Unless Lender and Borrower otherwise 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 I and 2 hereof or change the amount of such installments.
<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 arty manner, the liability of the original Borrower and
<br />Borrower's successors in interest. Lender shall not be required 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 Leader Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded
<br />by applicable law, shall not be a waiver of o. preclude the exercise of any such right or remedy. The procurement of insurance or the payment of
<br />taxes or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this
<br />Deed of Trust.
<br />12. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy undue this
<br />Deed of Trust or afforded by law or equity, and may be exorcised concurrently, independently or successively.
<br />13. Successors and Assigns Bound; Joint and Several Liability. Captions, The covenants and agreements herein contained shall bind, and
<br />the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17
<br />hereof. AD 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 />14. Notice. Except for any notice required under applicable law to be given in another manna, (a) any notice to Borrower provided for in
<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 shalt 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; Severability. 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 Dead 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 Vote are declared to be severable.
<br />I6. Borower'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
<br />17. Transfer of the Property; Assumption. If all or any part of the Propertn or an interest therein is sold or transferred by Borrower
<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 morel security interest for household appliances, (c) a transfer by device, descent or by operation of law upon the death of a joint
<br />tenant or (d) the grant of any lea: ^_hold interest of three years or less not containing an opnon to purchase, Lender may, at Lender's option,
<br />declare all the sums secured by this Deed of Trust to be immediately due and parable. Lender shall have waived such option to aocelerate 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 sansfatsory to Lender and that the interest payable on the sutras secured by this Deed of Trust shall be at such rate as I der 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 .'vote.
<br />If Lender exercises such option to accelerate, Lends shall mail 3orrower notice of acceleration in accordance with paragraph 14 hereof.
<br />Such notice shall provide a period of not less than 30 davc from the date the notice is maileiu within which Borrower may pay the sums declared
<br />due. If Borrower fails to pay such sums prior to the expiration of such period, Lender may. without further notice or demand on Borrower,
<br />invoke any remeries permitted by paragraph 18 hereof.
<br />NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />19. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of
<br />Borrower in this feed of Trust, including the covenants to pay when date any sums secured by this Deed of Trent, Leader prior to accelleratim
<br />shall mail notice to Borrower " provided in paragraph 14 hereof specifying: (1) the breach-, (2) the action required to cure such bunch; (3) a
<br />date, not less than 30 days from the date of notice is mailed to Borrower, by which such breach must be cared; and (4) that faNare to care such
<br />breach on or before the date specified in the notice may result in acceleration of the sums secured by this Deed of Trust sad safe of the Property.
<br />The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the Mm-
<br />existence of a defanh or any other defense of Borrower to acceleration and sale. If the breach is not cured on or before the date specified in the
<br />notice, Lender 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 invoke the power of sale and any other remedies permitted by applicable law. Leader shall be entitled to collect tN reasonable
<br />costa and expenses incurred in pursuing the remedies provided in this paragraph 18. including, but not Baited to, reasonable attorney's fees.
<br />U the power of sale is invoked, Trustee shall record a notice of default in each county in which the Property or some part thereof is located
<br />and shall trail copies of such notice in the meaner prescribed by applicable law to Borrower and to the other persons prescribed by applicable
<br />ate. After '.i a of sa&_ tlt— a my t; a rssgae`riss by applicable I—. Tare shall give pauue under of saic to the pe, sum and is the mummer
<br />prescribed by applicable law. Trustee, without demand on Borrower, shall sell the Property at pabile auction to the highest bidder at the tine
<br />and piece and under the terms designated in the notice of sale In one or more parcels and in such order as Trustee may determine. Trustee may
<br />postpone seek of all or any parcel of the Property by pabhc announcement at the time mW place of any previously scheduled seek. Lender or
<br />Lender's designee may purchase the Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property sold. The recitals in
<br />The Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply, the proceeds of the sale in the
<br />following order: (a) to all reasonable costs and expenses of the sale, including, but not Nailed to, Trustee's lets of mot more than
<br />of the gross ask price, reasonable attorney's fees and costs of title evidence: (b) to all sums secured by this Deed of Trost; and (c) the excess, if
<br />may, to the person or persona legally entitled thereto.
<br />19. Borrower's Right to Reinatair. Norwnhmandmg t ender'% acceleraton of the .um. c urcd by nits [beat rat Trust. Borrowet °.hall have
<br />the right to have anv p,meedmgs begun nv I ender :o cntnt, c On, !>red or I ru,t ,Laeonuntuvi at dny nine prior it' the ranter r0 ,,,-i ou art it) hr
<br />frrrh nay ttt,iwe the 'Ale of the Propctry pursuant to the ir,we! of Sale Contained m ihn word +tl Trim or ter; entr% of a itrdtin :rut e,00!.•ng thi,
<br />Ik-e.f ,.f Tau >t it tai nlexfnwe; eta; %; ender aft uni, ht, It w tild to the❑ doe r !t: 1)rocf Of tn;a. ;he No ;e ruse; ;,„t," 1r, 'TT r,.g 1 ,::v•r
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