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87 102039
<br />by this Roes! 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 fails to respond to Lender within 30 days after the date such notice is mailed, Lender is authorized to collect and
<br />apply the procceds. at Lender's option, either to restoration or repair of the Property or to the sums secured by this Deed of Trust.
<br />Union 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 Redound. Extension of the time for payment or modification of amortization of the sums secured by" Deed of Trust
<br />limited 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 />Dmower'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 Reed of Trust by reason of any demand made by the original Borrower
<br />and Borrower's successors in interest.
<br />11. ForYdtrntace 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 insurer= 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. Remedles 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 Dad 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 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. Uniform Deed of Trust; Governing Law; Severability. 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 stall 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 Note and of this Deed of Trust at the time of execution or
<br />after recordation hereof.
<br />17. 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, (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 stems secured by this Dad 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 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 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- UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />19. A . Except as provided In paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of
<br />Borrower In this Deed of Trust, Including the covenants to pay when due any sums secured by this Deed of Trust, Lender prior to acceleration
<br />shall used notice to Borrower as provided In paragraph 14 hereof specifying: (1) the breach; (2) the action required to can such breach; (3) a
<br />dala, no hea than 30 days from the date of notice B to Borrower, by which such breach most be cared; and (4) that failure to care such
<br />breach on or before the date specified in the notice may result in acceleration of the sums secured by this Dad of Trust and seek of the Property.
<br />The notice shall further Inform Borrower of the right to rdnstae after acceleration and the right to bring a court action to assert the non-
<br />sublimes of a defatll or any other defer of Borrower to acceleratlno sad sale. If the breach Is not cared on or before the date specified In the
<br />an d r i , Lender at Lender's is opts my declare all of the saw secitered by this Dad of Trust to be immediately due and payable without further
<br />dot d and may, [wake the power of cede mod any other reassess permitted by applicable haw. Leader shall be entitled to collect all reasonable
<br />cam and expense incurred In pursuing the remedies provided In this 18, Including, but not limited to, reasonable attorney's fees.
<br />If the pence of oak is Invoked. Trustee AM record a notice of default In each county Is which the Property or some part thereof is located
<br />and dmN mail copies of such notice In the manner by applicable law to Borrower and to the other persons prescribed by applicable
<br />lave. Aft the hill" of each time as say be requires! by applicable law, Trustee shall live public notice of sale to the persons and In the manner
<br />by applicable law. Trustee, without demand on Borrower, slag self the Properly at public auction to the highest bidder at the time
<br />and place sod mfr the teen designated In the notice of ask in one or more parcels and In such order us Trustee may determine. Trustee may
<br />pomption ask of all or my parcel of the Property by pubes sunouncememl at the time and place of any previously scheduled sale. Lender or
<br />Laminas domignse nosy pwcbme the Prop" at my sale.
<br />Vista receipt of payment of On price bid. Trustee shall deliver to the purchaser Trustee's deed conveying the Property sold. The recitals In
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<br />the T 's dead he fuels evidence of the truth of the statements made Ihrrele. T apply the proceeds of the sale in the following arda- (a) to all notmemoble costs and insistence of the sak. Including, but nod limited to, Trustee's fees of not more than
<br />of Mae rim oak price, reasonable allemy's less and costs of title evidence; (b) to all sums secured by this [)teed of Tros(; and fc) the excess, If
<br />my, ro bur permits or portionto legally enffided thereto.
<br />19. 's Right to Reassess. Notwithstanding Lender's acceleration rat the sums secured by this D red of Trust, Borrower shall have
<br />the right to have any proceedings begun by l:cnder to enforce this Deed of trust discontinued at any tints prior to the curlier w ,,rcw oI li'[ [tie
<br />fifth day before the sale of the Properly pursuant to the power of vale contained in this Deed A T tust of tit) entry of a tudgrnew rtilmong this
<br />lamed of I'rml if: (a) grower pays I.rudet all gums which would be then Our under this bard of Iino. thr None :anO notes ♦c,unnp tuunr
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