|
87- 101510
<br />not personally liable on the Note or under this Deed of Trust, and (c) agrees that Lender and any other Borrower
<br />hereunder may agree to extend, modify, forbear, or make any other accommodations with regard to the terms of this
<br />Deed of Trust or the Note, without that Borrower's consent and without releasing that Borrower or modifying this Deed
<br />vi T rtrsi as iv iitai iiuriuwcr'i itrictcst sir ifsc Ptuperty.
<br />12. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Deed of Trust shall be given by delivering it or by mailing such notice by certified mail
<br />addressed to Borrower at the Properly Address or at such other address as Borrower may designate by notice to Lender
<br />as provided herein, and (b) any notice to Lender shall be given by certified mail to Lender's address stated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />13. Governing Law; Severabillty. The state and local laws applicable to this Deed of Trust shall be the laws of the
<br />jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of Federal law to
<br />this Deed of Trust. In the event that any provision or clause of this Deed of Trust or the Note conflicts with applicable
<br />law, such conflict shall not affect other provisions of this Deed of Trust or the Note which can be given effect without the
<br />conflicting provision, and to this end the provisions of this Deed of Trust and the Note are declared to be severable. As
<br />used herein, "costs ", "expenses" and "attorneys' fees" include all sums to the extent not prohibited by applicable law or
<br />limited herein.
<br />14. Borrower's Copy. Borrower shall be furnished a corform ed copy of the Note and of this Deed of Trust at the
<br />time of execution or after recordation hereof.
<br />15. Rehabilitation Least Agreement. Borrower shall fulfill all of Borrower's obligations under any home rehabiliza-
<br />tion, improvement, repair or other loan agreement which Borrower enters into with Lender. Lender, at Lender's Option.
<br />may require Borrower to execute and deliver to Lender, in a form acceptable to Lender. an assignment of any rights,
<br />claims or defenses which Borrower may have against parties who supply labor, materials or services in connection with
<br />improvements made to the Property.
<br />116. Transfer of the Properry; Asumptimu if all or any part of the Property or an interest
<br />therein is sold or transferred by Borrower without Lender's prior written consent,
<br />excluding (a) the creation of a lien or encumbrance subordinate to this Deed of
<br />Trust, (b) the creation of a purchase money security interest for household appli-
<br />ances or (c) a transfer by devise, descent or by operation of law upon the death o2
<br />a joint tenant, Leader may, at Lender's option, declare all the suss secured by this
<br />Deed of Trust to be immediately due and payable. Lender shall have waived such
<br />oogptioa to accelerate if, prior to the sale or transfer, ;ender and the person to
<br />whoa the Property is to be sold or transferred reach agreement in writing that the
<br />credit of such person is satisfactory to Lender and that the interest payable on the
<br />sum secured by this Deed of Trust shall be at such rate as Lender shall request.
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower notice of
<br />acceleration in accordance with paragraph 12 hereof. Such notice shall provide a
<br />period of not less than 30 daps from the date the notice is mailed or delivered
<br />within which Borrower may pay the susps declared due. If Borrower fails to pay suet
<br />suss prior to the expiration of such period, Lender may, without further notice or
<br />demand on Borrower, invoke any remedies permitted by paragraph 17 hereof.
<br />NON - UNIFORM COV�NiANn. Borrower and Lender F,rrther covenant and agree as follows:
<br />17. Ace6ersirairs; Rernedles. Except as prov+dsd in paragraph 16 hereof, upon Borrower's brown, of any rsrve nsent
<br />or agreement of Borrower in rhb Deed of Tract, including Borrowers failure to pay, by the end of 10 calendar days after
<br />they are des. any sums secured by this Deed of Trmi Leader prior to acceleration shall give notice to Burrower as
<br />provided in paragraph 12 hereof specifying- I 1 i the breach: <2) the action requited to care such breach; (3) a data, not
<br />less than 20 days from the dace the notices mailed to Borrower, by which such breach mast be cured: and 141 that
<br />failure to cure such breach on or before the date specified in the notice may result in acceleration of the small secured by
<br />this Deed of- Trust and We of the Pme —,vm. The node shall farther inform RBerrower of the right to reinstate after
<br />acceleration and the right to bring a court action to assort the nonexistence of a default or any otter defense of Boeruwer,
<br />to aceelersdoe and sae. If the breach is not cured on or before the date specified in the notice, leader, at Lender's
<br />option, may Aare all of the sums secured by this Dead of Tract to be imrsedbttely due and payable without farther
<br />demand and may invoke the power of sale and any other remedles pertnjOed by applicable law. Leader shall be entitled
<br />to collect All reasonable costs and expenses incurred in pursuing the re -- -zdla provided In this paragraph 17. Including,
<br />but not it ted to, rearansbie atiorrxys' fees.
<br />If the power of We is invoked, Trustee shall record a nodes of default In each county in which the Property or some
<br />part thereof is located and shall mail copies of writ notice in the manner prescribed by applicable taw to Borrower and
<br />to the other persearts prescribed by applicable law. Artier the lapse of each time as may be required by applicable law,
<br />Trustee shall give public notice of saw to the persons and in the manner prescribed by applicable Law. Trustee, without
<br />demand on Borrower, shall sell the Property at public auction to the highest bidder at the time and place and under the
<br />terms designated In the notice of sale in one or more panels and in such ceder as Trustee may determine. Trustee may
<br />postpone sale of all or any parcel of the Property by public :anounceraent sit the time and place of any previously
<br />scheduled sale. Lender or Lender's designee may purchase the Property at any sale.
<br />Upon receipt of payment of the prise bid, Trustee shill deliver to the purchaser Trustee's deed conveying the
<br />Property sold. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made
<br />therein. Trustee shall apply the proceeds of the sale in the following order. iat to all ; se costs and expenses of the
<br />sale, including, but not limited to. Trustee's fees actually incurred of not more than ............. % of the grow We
<br />price, reasonable attorneys' face and costs of title evidence; (bi to all sums secured by this Deed of Trost; and (ci the ex.
<br />cess. if any. to the person or persons legally entitled thereto.
<br />L8. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Deed of
<br />Trust, due to Borrower's breach, Borrower shalt have the right to have any proceedings begun by Lender to enforce this
<br />Deets of Trust discontinued at any time prior to the earlier to occur of tali the fifth day before the sale of the Property
<br />pursuant to the power of sale contained to this Deed of Trust or iii) entry of a judgment enforcing this Deed of Trust if-
<br />(a) Borrower pays Lender all sums which would be then due under this Deed of Trust and the Note had no acceieratton
<br />occurred, ib) Borrower cures all breaches of any other covenants or agreements of Borrower contained in this Deed of
<br />Trust; tc) Borrower pays all reasonable expenses incurred by Lender and Trustee to -enforcing the covenants and
<br />agreements of Borrower contained in this Deed of Trust and to enforcing Lender's and Trustee's remedies as provided to
<br />pdtagraph 17 hereof. including, but not htnned to. reasonable attorneys tees: and (d) Borrower takes such action as
<br />Icndet rnav reasonably require to Assure thrt the lien of this Deed �tt Trust. !ender'% interest in :he Property and
<br />ltnrmwer s ,,bhKatton to pap the ,urns srcur;d by this Deed of Trust %hail conhnur unimp,urcd, l'pon such payment and
<br />cure ov Burrower this Deed �,f 1 rust "nil 'he obhgatons wcured hereby %haH remain in full fierce and effect as if no
<br />au Nrrsnuu r!,{,} ,xi utrrrt
<br />
|