87101496 - Laserfiche WebLink

Browse

I 87_ 101496 9. Condemnation. The proceeds of env award or claim for damages. direct or consequential, to connection with any cdr.demnatron or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lander the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise 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 that proportion which the amount of the sums secured by 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 taking, with the balance of the proceeds paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a 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 apply the proceeds, at Lender's option, either to restoration or repair of the Property or to the sums secured by this Deed of Trust Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to prin, :ipal shall not extend or postpone the due date of the monthly installments referred to In paragraphs 1 and 2 hereof or change the amount of such installments 10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured by this Geed of Trust 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 Borrower's successors interest- Lender shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Dees of Trust by reason of any demand made by the original Borrower and Borrower's successors in interest 11. Forbearance by Lander Not a Waiver. Any forbearance by -ender in exercising any right or remedy hereunder. or otherwise afforded by app`icable law, shall not be a waiver of or ore. -'ude, fire exercise of any such right or remedy. The Dr Dcurempnt of insurance of she paymerrr et taxes or Other liens or charges by Lender shall not be a waiver of Lenders right to accelerate the maturity of the indebtedness secured by this Deed of Trust 12. Remedies Cumulative All remedies orevided in t',is Deed r.f Trust are distinct and cumulative to any other right or rerrtedy under this Deed of Trust or afforded by law or equity and may be exercised concurrently, independently or successively 13. Successors and Assigns Sound; Joint and Several Liability; Captions. The covenants and agreements herein costa ned shall t, d, and the rights hereunder snail inure to the respect.,�e scccessors and assigns of Lender and Borrower, s.:btect to the pro: is•ons of paragraph 17 hereof Al! cc :ve ;.ants ar.y acrca, ^r -;s ::i Borrower shah be joint and several. The capt,ons ar•.d heaotngs of the Daragraphs of tnis Deed of Trust a ;e foi ct'I-r r :.ence ^rely and are not to be used to interpret or define the provisions hereof. 14. Notice. Except for any not,ce requ,rea under appticaufe law to ce liven in another manner, (a) any notice to Borrower Provided for in this Deed of Trust shall be given by malting such notice by cerz fled marl addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any notice to tender snail be given by certified matt. return receipt recuested. to Lender's address stated herein or to such other addressas Lender may designate by notice to So rower as provided herein Any notice provided for it this Deed of Trust shall be deemed to have been given to Borrower or Lender when given m the manner designated nerein IS. Uniform deed of Trust; Governing Law; Severabifty. The farm of deed at trust combines uniform covenants for nat-^nal ,:se and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real Droperty. This Deed of Trust shall be governed by me law of the jurisdiction °n which the Property m located rn the event that any provision or clause of this Deed of Trust or the Note conlliCts with appiicable taw, such conflict shalt not affect other provis;ons of' his Deed of Trust or the Note which can be given effect without the conflicting provisions. and to this end me provisions of the Deed of Trust and the Note are declared to be severable. 16. Borrowaiii Copy. Borrower shalt be'- .rn,sheo a cortormee 1 ropy of the Note and of this Deed of Trust at the time of exec-,• cn or affe• recordation herecf 17. Transfer of the Property: Assumption_ :f at' c; ,i y tsar^. _: tr:e prupr:y Of an !Merest therein is solo Gr transferred by Borrower wilhc ur Lender's prior wr the:"• L`vnsent, excluding ia) the creation of alien or encumbrance subordinate to ihvs Deed of Trust, (b) the creation of a purchase mor•ey security interest for nousehoio appliances, (c) a transfer by devise descent or by open anon of taw -upon the death at a joint tenant of (dj the grant df an y leasehold , nterest of three years or less not Containing an Option to Purchase. Lender rnay. at Lender's option, declare all the sums secured by this Deea of Trust to be irnmedtateiy due and payable Lender shall have waived such option to accelerate if, prior to the safe or transter. Lender and the person to whom the Property is to be sold or transferred reach act, eemenr, in wr=ing that the Credit of such person is Satisfactory to Lender and trial, the interest payable on the sums secured bytn,s Deed of Trust snail beat silo ri. ate as Lender strait reauest if Lender nas tiaiiea the option to accelerate pso.ldea .1ragrapf, ' ^ t Bcrrower's successor in interest .:as executed a wittier, assurypbor agreement. accePWJ 'n wr,, r -�' =p 'Cri der ;_c 'Cc'`c„tra'i re ease Borrower from e" CAt oatrans under this Deed of Trust and the Note if Lender exercises such Dotson to accelerate L der shat! ma'? Eofrower notice 3` acceleration in accordance waft paragraph :4 hereof Sucnnoticesnali prov: de a perioc Df r.o ± :esstna, 36days frar^ the Cate the notce ismaJed within -wnrcn Borrower may pal the sums declared due if Borrower fa +•s f _i Da, _3tn slums prrdr tC the expiration. at such Period. Lender may wd"Out further nDt :cti c., demanc cn Borrower invoke ar y ra—a.F�es per mitt ed by ^aragraph 18 hereof NON- UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 18 Acceleration Remed es. F x, eDr as , r - : ar n aara,rapn, t ? ;:ere-' .c- }n B r- owef's breach >,t any covenant ar agreement of Bo . wer - h_c Deed D Y st, ;r :.g ,re rta so pay fi nom- due any suns se -,area by Yhis Deetcol Trust ende poor?o = r °r :alpnsna' m� lei Borll7wel as r lido ^_: ^pare aF. 1, - he-eofspecty '.._,eb-eacr..:2,the act,d red- -red - res.lcn e3c. (3 .a date hots 1 - ..y ` ess than 30 _ays from the date ...era ^ce +s matted tc Borrower. by which such breach T- _st be ;.lea. and (a: that failure to Cure such breach on or be!orethp date soec,f,eci in the notice may result in acceterat :c^ of the sums secured by this Deed u' T: ustano sale of the Properly The notice snail further inform Borrower of the right to reinstate aher acceleration and tree , tgrt fo bring a court achnn to assert the rice - existence of a aefauit or ar y otner defense of Borrower to acceleration and sale. If the breach is not cured u^ or before the date specified in the notice. Lender at Lender's option ,,"y declare all c, i",e sums secured by this Deed of Trust to be .rnn:ea+ate^: due and payable without further demand and may ,evoke the power of sale aria any other rernedieZ permitted by apprcao +e law Lender shall be entitled to collect al l reasonable costs and expenses incur red i n pursuing the remedies provided in the paragraph 18, including, but not ',mated to. reasonable attorney's fees . if the power of sate is invoked, Trustee shalt record a notice of default in each county in wnscn the Prccerty cr some part thereof is loi,ated and shall marl copies of such notice in the manner prescribed by applicable iaw to Borrower and lathe other Persons prescribed by applicable law After the _apse of such time as may be required by applicable law. Trustee shall give h - sons and th ft a .war =re P,rescnbed by apifa c isle iaw. Trustee, with out demand on Borrower. shall sell the Property at public auction to the highest bidder at the time and place 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 postpone sale of all or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or Lender's designee may purchase the Property at any sale. Upon receipt of paymentoi the price bid. Trustee shall deliver to the purchaser Trustee's deed conveying the Property sold The recitals in 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 following order. (a) to all reasonable costs and expenses of the sale, including, but not limited to. Trustee's fees of not more than _ _ _ _ _ %of the gross sale price. reasonable attorney's fees and costs of title evidence. (bl to all sums secured by this Deed of Trust, and (c) the excess. if any, to the person or personae legally entitled thereto 14. Borrower's Right to RNnstaM. Notwithstanding Lender's acceleration of the sums secured by this Deed of Trust. Borrower shall have the right to have any proceedings begun by Lender to enforce the Deed of Trust discontinued at any time prior tr, the &artier to occur of (,) the fifth day before the sale of the Property pursuant to the power of sale contained .n the Deed of Trust (:f) entry of a judgment enforcing this Deed of Trust 4 (a} Borrower pays Lender all sums which would tie then due under this geed of Trust. the Note and notes securing Future Advances, if any had no acceleration occured lb) Borrower crises a.i bf"W r,fis of any other c overants or agreements of Borrower contained in this Deed of Trust (C) Borrower pays all (east able q gn". %wr rr. ,I ny L.endei and Trustee of ofc,nq the ('nvefiants anct agreemnP -ts vd Bwtower c ontimed in this Del 'r TuO n ef: billing t er :dpr 5 and Trrasteg s fitmed,es as prov r,00,n oalagraph 1 =1 . ore, + -ud " g. t at not nmar -o to rwp r_ah =� ih r. .i s loots i j, 13r2rt -;wa ia6p% cr r n a± torn AS tip -dal ^lay =e;i 4,� qb ; r =qr. ., assr.re Via! tt'N liar -, ,+ fh, i in r,, ! t L P °rill n ci - ..• ,r the isfi)y@rty and Roffoww —1 obl.gahon ftl pap fIt,sir lei ` h'. "h v l) ±led 1f T,, - -t. i rnrar to j irr illy F3,)rrow rh.c ";hoot , -z t „r „>.r, -_ „- the- rr „f_ - r.''f,l,1t'1'!” t - -,V Nenf6f „_held olio ., xt .n n •i;