|
°y rms tied 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 />raking, 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 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 />UnIm 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 />1®. Batt■901 Not Relo=W. Extension of the time for
<br />granted by Lender touts payment or modification of amortization of the sums secured by this Deed of Trust
<br />y uccessor 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 of 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. Forhs■nmm 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. Rameifm Cttwtdarfve. All remedies provided in this Deed of Trust are distinct and cumulative !n 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. SGeemmm aN A=IM Doued ;,loi ■t sod Several Liability; GpNons. 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 />11. Notke. 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' 10 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. GWOM peed of Tema; Goreraing Law; SeverablBty. This form of deed of trust combines uniform covenants for national use and
<br />nonuniform 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 Deed of
<br />Trust or the Note conflicts with applicable law, such conflict shall nor affect other provisions of this Deed of Trust or the Note which can be
<br />gives[ 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 />ld' Borrevver'a Can. 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. Tree■ llor of the Ihoptrty; Aawmption. If all or ally ,
<br />without Lender's part of the I roperty or an interest [herein is sold or transferred by Borrower
<br />Prior written consent. excluding (a) the creation+. of a lien or encumbrance subordinate to this Deed of Trust, (b) the creation of
<br />®>KUC11ase money security interest for household appliances, (c) a transfer by devise, descent or by operation of taw 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 Dent of Trust to he immediately due and payable. tender shall have waived such option to accelerate if,
<br />Prior to the sale or transfer, Lender and the person to a hom 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 ort the sums secured by this Deed of Trust shall he 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 wraun
<br />the Note. rig by Lender, Lender shall release Borrower from all obligations under this Deed of Trust and
<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 Willis; prior to The expiration of such period. Lender may, without further notice or demand on Borrower,
<br />invoke any remedies permitted by paragraph 1 n hereof
<br />NON - UNIFORM COVENANTS. %rrOwet and Lender further covenant and agree as follows: 17 11. Aoedergdo■; Rest. U_W as
<br />Borrower M this peed of Tell", tiding a Provided is Pay "be b due hereof, upon ed by this Deed of any covenant or agreement of
<br />sMY mad Including the aragra ■ts to �Y parr due any surtm secnrcd by ebb ))red of Trust. Leader prior to acceleration
<br />notice to Borrower tit Provided it !M<rKrapa 11 beTrof specifying: from notice (1) the breach; (2) the action required 10 cure such breach; (3) a
<br />bleak► der. or befnie the dote Borrower, by which each breach mast be cured; lad (a) tall failure to cure such
<br />apedried h the ttotkc may result is acceleration of the suns secured by this Deed of Trust sod ask of be Property.
<br />The noaee SW further ksform Borrower of the right to reinstate after accekTOth m and the right to bring a court action to amen The non.
<br />esdshoula of a defanit or ■ssy otter defame of Borrower to accekmthm amd seek. If the breacb is aw caned On dx before till e date spdecifkd ie the
<br />moaea, Leader at Lemdne's aPao■ Only declare d of the state secured by thb Dad or Trost to be just red
<br />doe and payable without he stany and
<br />caoY amd i■eurrN Power or Usk and my °iI� reww*m permitted by applicable law. Lender shad be emitted to coNect all reasonable
<br />purs, Tr tae shall record orOrided in' Ibis paragraph 18, includi�, but lot limited to, reasonable attorney's tees.
<br />Lf the Nwer sf side V hrOktrl, Trsstet tdu6 record ■ notice of default fe each trommty le which the
<br />and ah■B MY eopim of sad mot{a H the maader Prescribed ce applicable law to 1r�� or some pan thereof is located
<br />laws Afkr fat Imps of such lit ur may be Borrower ■cod to the other Persons Prescribed by applicable
<br /># by appBnhle lair. Trostee, without�� by apf�ab&r law, Trost" shed give public notice of sak to the Perilous and in the manner
<br />and pines and mdse Mt teems ��� f s Borrower, shall sell 'be Property 01 pabke auction to the highest bidder at The time
<br />designated b the notice of sde in One Or move Parcels and in such order as Trustee may determine. Trustee may
<br />Pta4andr drtsle M till or [cosy l� of the lroptrtY b7 Nhklc ammoa
<br />ItAider's duyau =MY Paschen the Property al any aide. atemtenT a1 the Norte aN price of any peerioasly scheduled sink. Lender or
<br />lfpam rooldpt of pay"M of the price bid. Trwtte sardl deliver to The air Tnrtae's dad day be prime fit* evidence of the truth of the stalcmentarcb Trustee's deed conveytat (he Property sold . The recitals in
<br />w °east (a) ro an eassoa■ak a Is W made therein. indie Trustee 1W apply the proceeds M the sale in be
<br />ens and c of the sate, laeludiag, but sot tindled to, Trustee's fees of DOI more (ban - ---,— _-
<br />at .1 The � M*Y• ramaarbie attorney's teen and costs of little ev tree; (b) to all arms secured by Ibis Deed of Trust; and (c) the caress, if
<br />arty. ld alt pessmm M ptasorM Isg.By eaatlerl theveto.
<br />19' Bhave an a o l01ls begun t. Not Iclld t to r rag 1. ender'% acceiccation of the kiln', secured by this I)eed of Trust, Horrower %hall hake
<br />fifth right to fore any Proceedings begun by Lender r;> er force this eked of I ru,t ch•.c,•ortrnaed m aces time : , ,n rile earlier too"
<br />fifth day before the lade of the Arc pr: .
<br />[petty pursuant rca the txtwer of cede a-n;amed m this 1 ,er ,st (i1 ;hc tit Deer[ 'If Trust 3f' (a) ikHtnwtt pay% Lender xU ,untc aha:h c,uld to then dire ,_;ceder rh c ddnlu It n) enin at a nadgmeu: rur„rring chi,
<br />r thr '�utc ..r..3 mme% ,cet,raceg Future•
<br />�J
<br />
|