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<br />87- 10138'7
<br />9. Condemnation The proceeds of any award or claim for damages. direct or consequential, in connection with any
<br />tit
<br />condemnation or other taking of the Property, or partthereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />I1 m the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Deed of Trust, with
<br />the e, :cess. if any, paid to Borrower In the event of a partial taking of the Property, unless Borrower and Lender otherwise
<br />agree in writing, there shall be applied to the sums secured by this Deed of Trust such proportion of 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 />tair market value of the property immediately prior to the date of taking, with the balance of the proceeds paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an
<br />award or settle a claim for damages, Borrower fads to respond to Lender within 30 days after the date such notice is mailed,
<br />I, Lender is authorized to collect and apply the proceeds. at Lender's option, either to restoration or repair of the Property or to
<br />the sums secured by this Deed of 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 installments referred to in paragraphs 1 and 2 hereof or change the amount of such
<br />installments.
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortization 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 interest •_ender shall not be required to commence proceedings
<br />against such successor or refuse to extend time 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 forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by app:icable law. shall not be a waiver of or preciude the exercise of any such right or remedy. The
<br />Procurement of insurance of the payment of taxes or other liens_ or charges by Lender shall not be a waiver of Lender's nghtto
<br />accelerate the maturity of the indebtedness secured by this Deed of Trust.
<br />12. Remedies Cumulative All remedies orooder in this Deed of Trust are distinct and cumulative to any other right or
<br />remedy under this Deed of Trust or afforded by
<br />taw or equity, and may be exercised concurrently, independently or
<br />successively
<br />13. Successors and Assigns Bound; Joint and Several tiabi6ty; Captions. The covenants and agreements herein
<br />contained shall btnd. and the rights hereunder shah inure to, the respective successors and assigns of Lender and Borrower,
<br />subject to the
<br />provisions of paragraph t' hereof A!; cc remits a ^: agreements of grower shat; be joint and several. The
<br />captors and headings of the Paragraphs of this Deed of Trilst a,e for ------ ^ ;e,- ce on;y and are not to be used to interpret or
<br />define the provisions hereof.
<br />14. Notice. Except for any notice required under applcabie �aw to be given in another manner, (a) any notice to Borrower
<br />provided for in this Deed of Trust shall be given by matting such notice by cent. #red marl addressed to Borrower at the Property
<br />Andress or at such other address as Borrower may designate
<br />by no: ce to ;_ender as provided herein, and (b) any notice to
<br />lender shall be given by certified mail, return receipt requested. to Lender'saddress Stated herein
<br />or to such other address as
<br />Lender may designate by notice to Borrower as provided herein Any notice provided for in this Deed of Trust shall be deemed
<br />to have been given to Borrower Or Lender when given in the manner designated herein
<br />15. Uniform Deed of Trust; Governing Law; Severabi9ty. The form of deed of trust combines uniform covenants tar
<br />national; use and non- urdorm covenants with limited vanatiors by iurisdiction #0 constitute a uniform security instrument
<br />covering real property. This Deed of Trust shall be governed by the taw Of the jtlncdictton +•^ wh,cn the Property is located. in
<br />the event that any provision or clause of this Deed of Trust Or the Note corflicts witf+ a;>p=- ,cable law, such conf'ict shad not
<br />affect other provisions of this Deed of Trttstorthe Note which canoe c,ver. erfe :! w,thout the corflicung provisions, and to this
<br />end the provisions of the Deed of Trutt and ttWNote are de to
<br />da
<br />ed be seve -ante
<br />16. Borrower's Copy. BorrowWalf be'fuiniished a owfcrme� c p = +me r to and of this Deed of T, ust at to a Dine of
<br />execution or after recc,rdatrort herd
<br />17. Transferal the Property; 'Assmetpficn if at! ^ran of
<br />/ art ! p r -^ a sores -.. ese:n iS se ?O or transferred by
<br />Borrower without iender s poor wwre.i
<br />consent. exc.,,d rig (at th_ re of a e etc mw a. ce Suburcinate to this Deed
<br />of Trust. (b) the creation of a purchase money security interest for house,Coto
<br />app .ances. ici a transfer by devise descent or by
<br />operation of law upon the death of a joint tenant or (d) the grant of any leasehoid,rterestof three years or less not containing an
<br />Option tO purchase. Lender may, at Lender's option. declare ali the su=ns secured ty fftrs Deed of TruStto be immediately due
<br />and payable Lender shall have waived such option to accelerate if, prior to the sate or transte' Lender and the person to
<br />- - whom the Property is to be sold or transferred reach agreement in wr,tHtq Mat the credit of such person is sabstactory to
<br />--
<br />Lender and that the Interest payable on the sums Secured by this Dees of Trust shah be at such rate as Lender shall request If
<br />Lender has waved the option to accelerate provided in ti ^.;S paracrapr i 7 3r: -! Borrower's successor it interest has
<br />executed a hatter assume ion agreement accepted it wr r b ride-
<br />- _; y g- na , r eiease Borrower troth a!, obligations
<br />under this Deed of Trust and the Note.
<br />It Lender exercises such option to accelerate. Lender Sna' mare �Orrower notice O+aCCe.erffiior, in accordance with
<br />paragraph 14 hereof Such notice shall Provide a penoc o1 noVess rnan 33 days from the date tf`e notice is mailed within which
<br />Borrower may pay the sums declared due. If Borrower fans to pay sic!' sums prior !o the expiration Of such period. Lender
<br />may. without further nO ?ice n, demand " BOrrnwer ,- '.•:,ve
<br />>n'r re- �ad.es cermffted by -gragraph fo hereof
<br />NON - UNIFORM COVENANTS. Borrower and Lender turtfter covenant and agree as follows;
<br />18. Acceleration; Remedies. Except as provided ,n Oara6r3r,n r? hereof -= =poi BOrrowe s breach of anv covenant or
<br />agreemenio Borower nthis Deed or T, t_lst. jr.C4udlno thr cv.nants pay whe ^ due any sums Sec uredbythisbeedof Trust,
<br />Leap : a ,.e ery: -..o -. _, r - to Rcrr,3wer "- --
<br />as C :•d?'C para;tapt' l4 e--of so cl in 11:!h
<br />action - fY 9 ebreach.(2 }the
<br />. _quned to cure suc_ b, eacri, ,3; a care not less than 30 days from. the dateme notice is mailed to Borrower. by
<br />which
<br />such breach must be cure^ and i4? that failure to cure such b!eaCh or or befJrett'e date specified m the notice may resu ?tin
<br />acceleration Of the sums secu red by this Deed of Trust and Property
<br />sale of the The notice shall further inform Borrower of the
<br />right to reinstate after acceleration and the right to bring a court action to assert the non - existence of a default or any
<br />other
<br />defense of Borrower to acceleration and sale- If the breach is not cured on or before f^e date specified in the notice. Lender at
<br />Lenders option -nay, declare all of the sums by
<br />secured this Deed c' Trost to be ;mired,atety due and payable without further
<br />demand and may invoke the power of sate and any other remedies permitted by applicable law. Lender shall be entitled to
<br />collect all reasonable costs and expenses incurred m 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 shah recora a notice of defautt:n each county in wh-cn ine Property or some Part
<br />thereof, s located and snallcriailcopiesofsuch
<br />notice inine manner prescribed byappiicableiawtoBorrowerandtotheother -
<br />persons prescribed by applicable law. After the lapse
<br />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 />_Mail �- -�17 ru �ticdi" Iluntomehignestardderatthetimeandplaceandunderthetermsdesignatedinthenotice
<br />of sale in One or more parcels and in such order as Trustee
<br />may determine Trustee may postpone safe of all or any parcel of
<br />the Property by public announcement at the time and place of any
<br />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, Trustee 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 the
<br />of truth of the statements made therein Trustee shall apply
<br />the proceeds of the sale in the following order: (a) to all reasonable costs
<br />and expenses ofthe sale. including, but not limited to,
<br />Trustee's fees of not more than -- _ -..__ %of the gross sale price, reasonable attorney's fees and costs of title
<br />•_Ml
<br />evidence:
<br />(b) to all sums s d of Trust,
<br />ecured by this Dee and (c) the excess, if any, to the person or persons legally entitled thereto
<br />19. Borrower's Right to Reinstate. Notwithstanding Lender's
<br />acceleration Of the sums secured by this Deed of Trust,
<br />Borrower shall have the right 10 have any proceedings begun by Lenderto enforce the Deed of Trust discontinued at any time
<br />to
<br />prior the earlier to occur of (1) the fifth day before the sale of the Property pursuant to the power of sale contained in the Deed
<br />of Trust (it) entry of a judgment enforcing this Deed of Trust if (a) Borrower
<br />pays Lender all sums which would be then due
<br />under this Deed of Trust, the Note and notes securing Future Advances, it any, had no acceleration occ {.red (bi Borrower
<br />l -
<br />cures all breaches of any Other covenants or agreemerts of Borrower contained it this Deed of Trust (c) Borrower Days
<br />- j
<br />air
<br />r$aDfin Ab ?e CXGengyY irlr.Ut /ed t3y i.rinder and Trustee er`.fOl Ling the covenants ano agreemt'rts of Borrower contalne(i iri th,
<br />�)e9(} (i T U!St Arrj r
<br />gnigr(ICt) L/_+nr}frg if nil Ti.e gtCP_ S iernedleti as Provided in paragraph 18 herNOr n -IL,j gig. but not I,rno Pcl
<br />ie}- rya, �r At7{ri inrreipy +; fr+y5 Ar ?d {d7 t rlrrnwP.f takes suct, action ins Lender may reisonabfv irer1t ire to
<br />-
<br />asswe that trtn lien i'it
<br />this Doi l of .. e- -. }- s rirwesf ..he Orgpµrty and Roftower.s obligalic, to pay the. st' r15 tier, s•d C;y !r s ,
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<br />, - r a •rf r{ nr t uaYi i sal ',I' ern
<br />,n » :; rr.r,.r r ,.. •r. n a t 1rr r n, f4 irrnws.r this Qi "Et. r t•,.a� • . ,
<br />nn is,t•r, ;h,in r ad .rurrPd
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