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87- 101521
<br />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
<br />tt:.':- ,... thz: balar,.c ;,f t „c pmcccds paid to Borrower.
<br />i f 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
<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 tin pr ti eds, at Lender, 's option, to restoration or repair of the Property or to 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 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 paymnent 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 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 Lender 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 or 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 under this
<br />Deed of Trust or afforded by law or equity, and may be exercised 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. 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 />14. Notice. Except for any notice required under applicable law to be given in another manner, (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 trail, 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 Borrows or Lender when given in the manner designated herein.
<br />15. Uniform Deed of Tract; Governing Law; SeverabiBty. This form of deed of trust combines uniform covenants for nadonaf rue and
<br />non- uniform covenants with limited variations by iurisdicion to constitute a uniform security instrument covering real property. This Dee! 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 dote and of this Deed of Trust at the time of execution or
<br />after recordation hereof.
<br />I7. Transfer of the Property; Assumption. if all or any part of the Property- 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 money security interest for household appliances, ic) a transfer by devise, descent or by operation of law upon the death of a join[
<br />tenant or (d) the grant of any leasehold interest of three years or less not containing an option to purchase, Lender tray, at Leader'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 an the sums secured by this Deed of Trust shall be at such rate as Lender shag
<br />request. If Lender has waived the option to accelerate provided in this paragraph l'•. 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 />if Lender exercises such option to accelerate, Lender shall mail W r *;ewer r nice of acceleration in accordance with paragraph 14 hereof.
<br />Such notice shall pro, ide a per;od of not less than 30 days from the date the ne`.ce is mailed within which Borrower may pay the sums diclared
<br />due. if Borrower fails to pay such sums prior to the expiration of such perioc. Lender may. without further notice or demand on Borrower,
<br />invoke any remedies permitted by paragraph 18 hereof.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree _ fol)ow-s:
<br />Ig. Acceleration. Remedies. Except as provided in paragraph 17 hereof. upon Borrower's breach of any covenant or agreement of
<br />Borrower to this deed of Trust, including the covenants to pay when due any suits secured by thin peed of Trust, Lender prior to acceleration
<br />shall mail notice to BOO wee as provided in paragraph 14 hereof specifying: (1) the breach. (2) the action required to care such bream; (3) a
<br />da't, not less than 30 days from the date of notice is trailed to Borrower, by which such breach most be cared; and (4) that failure to care such
<br />breach oa of before the date specified in the notice may result its acceleration of the sums secured by this Deed of Trust and ask of the Property.
<br />Tic notice shall "her inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the noa-
<br />ecistence of a default or any other defense of Borrower to acceleration and sale. if the breach is not cared on or before the date specified is the
<br />notice. Leader at Lender's option may declare all of the sums secured by this Deed of Trust to be immediately due and payable wf'bout further
<br />demand and may invoke the power of safe and May other remedies permitted by applicable law. Leader shag be entitled to collect all reasonable
<br />costs and expenses incurred in pursuing the remedies provided in this paragraph 19, including, but cot Unshed to, reasonable attorney's fees.
<br />If the power of sale is Invoked, Trustee shall record a notice of default in each county in wbkb the Property w some put thereof is located
<br />and shall mail copies of such notice in the meaner - w �_ ._
<br />atria to laile user persons Prescribed by applicable
<br />law. After the lapse of such time as may be required by applicable law, Trustee shall give pubic notice of sale to the persons and In the manner
<br />prescribed by applicable law. Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder at the time
<br />OW Piece tad 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 />pustpnue ask of all or soy panel of the Property by public announcement at the time and place of any previously scheduled ask. Leader or
<br />Leader's dleaigiam may purchase the Property at any ask.
<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 />t4 Tru*W's deed shat be prima facie evidence of the truth of the statements made therein. Trustee sban apply the proceeds of the ask in the
<br />fOhOw'1 spl Order: it) 10 all reamstabk costs and expenses of the sale, including, but not limited to. Trustee's tees of not more than ^'s
<br />Of rise grow sale price, reasonable stiorney's Ices sad cum of title evidence: (bi to all sums wcured by this deed of Trust; and fir) the Herr , if
<br />&My, to the person or persons legally entitled thereto.
<br />19. borrower's Right ru "Maisie, Nol. llhstandtng I rnde,'c necelcranon of the ,um, senarcd h, tin, heed of fru,t, li,_;,w et .ball hose the rtgh, to h.otc ails nt.kre,', rig+ tWgm, h, 1 en6c, a"enlo,. tit, 1), J.,t i r;,a.t �hr
<br />fifth sat t+et„rr the -air :,f the Nr,.;trm t w,w.n{ a, the r —', nl cal, eontamni m'h,. ikn-,1 �,i I _,t .,r (;�; rnt,y .,t ., :udamcnt _f,_
<br />Ikrrd =,f ,,.a. -unt, wlu h :a „tdd hx- thrF -,oar, .4, i oar.! • t n� �r `.,�, ,„± .. , t. ,�. �nF .
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