|
87. 101920
<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 Borrower.
<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 falls to respond to Leader within 30 days after the date such notice is mailed, Lender is authorized to collet and
<br />apply the proceeds, at Lag's option, either to restoration or repair of the Property or to the sums secured by this Dodd of Trust.
<br />Uakua Lam 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 />11. Doerawer NM Rds mid. Extension of the time for payment 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 sacoessom 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. Forlimmem by Lauder 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 />Decd of Trust.
<br />12. Remedlies Cumulative. All remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this
<br />Dad of Trust or afforded bylaw or equity, and maybe 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 />an 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 mail, return receipt
<br />requested, to Leader'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 Borrower or Lender when given in the manner designated herein.
<br />15. Uatorm Deed of TraN; Governing Law; SeverablUty. This form of deed of trust 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 Deed 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 feed 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 Note and of this Deed of Trust at the time of execution or
<br />after recordation hereof.
<br />17. Tnmmfer 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, (c) a transfer by devise, descent or by operation of law upon the death of a joint
<br />tenant or (d) the grant of any leasehold interest of three years or less not containing an option to purchase, Lender may, at Lender'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 on the sums 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 executed a
<br />written assumption agreement accepted in writing by Lender, Lender shall release Borrower from a!: obligations under this Deed of Trust and
<br />the Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof.
<br />Such notice shall provide a period of not less than 30 days from the date the notice is mailed within which Borrower may pay the sums declared
<br />due, if Borrower fails to pay such sums prior to the expiration of such period, Lender may, without further notice or demand on Borrower,
<br />invoke any remedies permitted by paragraph 18 hereof.
<br />NON- UNIFtORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />18. Acceleration; RessedDes. Except as provided In paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of
<br />Den owwn is this Deed of Trail, including the covenants to pay when due any sums secured by this Deed of Trust, Leader prior to acceleration
<br />ritag and notice to Harrower as provided In paragraph 14 hereof specifying: (1) the breach; (2) the action required to care such breach; (3) a
<br />data, Bret less thtss 30 days from lhe date of notice Is mid to Borrower, by wbkb such breach must be cared; and (4) that failure to cure inch
<br />broach out or before the dale specified In the Notice may result In acceleration of the same secured by this Deed of Trust and seek of the Property.
<br />The uotioe shall further hero Borrower of the right to relnstate after acceleration and the right to bring a court action to assert the son-
<br />existence of a ddattdt or any oAer defsuse of Borrower to acceleration and ode. If The breach is not cured on or before the dale spedfkd in the
<br />ndNla, I order N Iwaier's optlou coy decline all of the sam secured by this Dad of Trent to be imam ttkiy doe and payable without farther
<br />dmsasei end may Invoke the power of mle and my other remedies permitted by applicable law. Leader shag be entitled to collect all reasonable
<br />cons tag expenses hicerred in parselft the t provided In Ilds paragraph 18, including, but oot limited to, reasonable attorney's fees.
<br />If the power of ado Is Lvaieed, Trodee t record a notice of default In each county in which the Property or some pan thereof Is located
<br />and shd snag CopNs of tend notice lathe summer prescribed by applicable law to Borrower and to the other persons inscribed by applicable
<br />law. After the byte of mach tine as any be required by applcable law, Trust shall give public notice of sale to the persons and In the manner
<br />I F 01 1 by M/Is P II e law. Trame, without demand on Borrower, shall sell the Property at PEW auction to the highest bidder at the time
<br />and place and rim the seems designated In the notice of ale in one or more parcels and Is such order as Trustee may determine. Trustee may
<br />ode of ag ar my pared of the Ply by public announcement at the time and place of any previously scheduled sale. Lender of
<br />LAW W's dsslgne may I the Properly M say mie.
<br />Upon MOW of payment of the price Md. Trustee m diver to the purchaser Trustee's deed conveying the Property sold. The recitals In
<br />On Trumt's deed AM be prima tack evidence of the truth of the etatemeste made therein. Trustee shall apply The proceeds of the ado in the
<br />kftw erdlr: (a) to all nmmwbk Casts and expense of the ale, Including, but not limited to, Trustee's fees of not more than __%
<br />Of lire guess alt price, attorney's tees nld casts of tick evidence; (b) to all sums secured by ibis heed of Trust; and (c) the excess, if
<br />any, N 1* person or person hyrtly enOW thereto.
<br />19. Denowes's RWR N Rehistate. Notwithstanding Lender's acceleration of the sums secured by this Deed of Trust. Borrower shall have
<br />the right to have any proceedings begun by Lender to enforce this feed of Trust discontinued at any time prior to the earlier to occur of ti) the
<br />fifth day befort the sah of the Property pursuant to the power of sale contained in this Deed of Trust or (ii) entry of a judgment enforcing this
<br />Dead of Trust if: (a) Borrower pays Lender all sums which would tee then due under this Deed of Trust, the Note and notes securing Futtue
<br />
|