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87- 101593
<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 />taking, with the balance of the proceeds paid to B ,)rrower.
<br />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
<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 proceeds, at Lender's option, either 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 1 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 scums 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 Linder Not s 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 shah 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; Captious. 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 Decd 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 hercgt..Any
<br />notice provided for in this Deed of Trust shall be deemed to have been given to Borrower or fender when given in the manner designated herein.
<br />15. Uniform Deed of Trust: Governing Law; Sever ability. This form of deed of tntst 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 Decd 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 wtucit 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 Note and of this Deed of Trust at the time of _xe— =treott or
<br />after recordation hereof.
<br />17. Transfer of the Property: Assumption. If all or any pan 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 iien or encumbrance subordinate to this Deed of Trost, ib) the c ea'ion of
<br />a purchase money security interest for household appliances, (c) a transfer by devise, descent or by operation of Iaw upon the death)` of a Iomt
<br />tenant or (d) the grant of any leasehold interest of three years or less not containing an option to purchase, Lender may, a' Lendc's option.
<br />declare all the sums secured by this Deed of Trust to be immediately due and payable. Leader 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 on the sutras secured by this Deed of Trust shall be at such rate as Lender shall
<br />request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has execined 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 Borrower notice of acceiaation in accordance with paragraph 14 hereof_
<br />Such notice shall provide a period of not less than 30 days from the elate the nonce is mailed within which Borrower may pay the sums declared
<br />due. If Borrower fails to pay such sums prior to the expiration of ,L3c% period, Lender may, without further notice or demand on Borrower,
<br />+revoke any remedies permitted by paragraph 18 hereof.
<br />NON- UNIFCRIvi COVENANTS. Borrower and Lender further covenant and agree_ as follows:
<br />18. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breath of any covenant or agreement of
<br />Borrower in this Deed of Trust, including the covenants to p-ty when due any sums secured by this Deed of Tract. Lender prior to acceleration
<br />shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action required to care such breach; (3) a
<br />date, not less than 30 days from the date of notice is called to Borrower, by which such breach most be cored; and (4) that fallen to tyre such
<br />breach oe or before the date specified in the notice may result in acceleration of the sums secured by this Deed of Trost and sale of the Property.
<br />The notice shall farther inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-
<br />existence of a default of any other defense of Borrower to acceleration and sale. If the breach is not cured oo or before the date specified in the
<br />notice, leader at Leader'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 invoice the power of sale and any other remedies permitted by applicable law. Leader shall be entitled to collect all ressonaW
<br />costs and expenses incurred in pursuing the remedies provided in this paragraph 18. including, but not limited to, reasonable attorney's fees.
<br />If 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 mail copies of such notice in the manner prescribed by applicable law to Borrower and to the other persons prescribed by applicable
<br />law. After the lapse of such time as may be required by applicable law, Trustee shall give pablk notice of sale to the tiers___ and to the tee
<br />prescribed by applicable law. Trustee, without demand on Borrower, shall sell 'be Property at public ancid a to the highest bidder at the time
<br />and place and under the terms designated in the notice of sak in one or more parcels and In such order as Trustee may determine. Trustee may
<br />Postpone sale of all of any parcel of the Property by public announcement at the time asd place of any previously scheduled ale. Lender or
<br />Leader's designee may purchase the Property so any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property sold. "Coe recitals in zw
<br />the Trustee's teed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the
<br />Lfollowing order: (a) to all reasonable costs sod expemea of the sale, inclading, but not limited to. Trustee's fees of not more than r s a
<br />of the gross vale prim, reasonable attorney's fees and costs of title evidence; (bi to all sums secured by this heed of 'frost; and (c) the excM, if -
<br />any, to the person or perwm legally entitled thereto.
<br />19. Borrower's Right to Reinstate. Notwuhstanding I cndcr's acceleraiton m the —um—secured h> this Deed of Trust, Borrower shalt have
<br />the right to hats any pn>tec, ings hegun h) 1 ends w enfor� e the Dcrrd "t ],list J;s ;nvinurd at .3rs time pout to the cat lief t., .w' m ,,i to the
<br />Filth clay hxeRUe ihr sale nl the 1'mtxns punnam n, the (M,wrr of �a1r.oniarnrd :n this Iked of Lrust of (Ut) emu of a tudgment ewwonc :ht. rs
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