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87- 102976
<br />9.. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />and shall be paid to Lender.
<br />condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />In the event of a total taking of the Property proceeds shall be applied to the sums secured by this Deed of Trust, with
<br />the excess, it any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise
<br />agree in writing, there shall be applied to the sums secured by this Deed of Trust such proportion of the proceeds as is
<br />that proportion which the amount of the sums secured by this Deed of Trust immediately prior to the date of taking beano the
<br />fair market value of the property immediately prior to the date of 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
<br />award or settle a claim for damages. Borrower fails to respond to Lender within 30 days after the date such notice is mailed,
<br />Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the Property or to
<br />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 notextend or
<br />Postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such
<br />installments.
<br />10. 8rrowKNotReleased. Extensionofthetimeforpaymentormodificationofamortizationofthesumssecuredbythis
<br />Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, the
<br />liability of the original Borrower and Borrower's successors interest. Lender shall not be required to commence proceedings
<br />against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this
<br />Deed of Trust by reason of any demand made by the original Borrower 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
<br />otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The
<br />Procurement of insurance of the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's rightto
<br />accelerate the maturity of the indebtedness secured by this Deed of Trust.
<br />12• Remedies Cumulative Ali remedies provided in this Deed of Trust are distinct and cumulative to any other right or
<br />remedy under this Deed of Trust or afforded by law or equity, and may be exercised concurrently, independent!y or
<br />successively.
<br />13. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein
<br />contained shall bind. and the rights hereunder shall Inure to, the respective successors and assigns of Lenderand Borrower,
<br />subject to the provisions of paragraph; 17 hereof AN covenants and agr._:amenl;; of Borrower shall be joint and several. The
<br />captions and headings of the paragraphs of this Deed of Trust are for convernence only and are not to be used to interpret or
<br />define the provisions hereof.
<br />14. N* ke. Except for any notice required under apppcable law to be given in another manner, (a) any notice to Borrower
<br />provided for in this Deed of Trust shall be given by mailing such nonce by certified mad addressed to Borrower at the Property
<br />Address or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any notice to
<br />lender shall be given by certified marl, return receipt requested. to Lender's address stated herein or to such other address as
<br />Lender may designate by notice to B mower as provded herein_ Any notice provided for in this Deed of Trust shall be deemed
<br />to have been given to Borrower or Lender when given In the manner designated herein
<br />15. Ufdf mt Oead of TnM; Governing Law; SevorabiNty, The form of deed of trust combines uniform covenants for
<br />national use and non - uniform covenants with limited variations by jurisdiction 10 constitute a uniform security instrument
<br />the eringit that n lt Property. This Deed of Trust shall be governed by the law of the jurisdiction in which the Property is lor_aied. In
<br />y provision orclause of this Deed of Trust or the Note conflicts with applicable law, such conflict shall not
<br />affect other provisions of this Deed of Trust or the Note which can be given effect without the conflicting provisions, and to this
<br />end the provisions of the Deed of Trust and the Note are declared 10 be severable.
<br />16. 6brrotser's COPY• grower shall be furnished a conformed copy of the Note and of this Deed of Trust at the time of
<br />execution or after recordation hereof
<br />17. Transfer of the Property; Assumption. if al! or any par! o! the property ar an Interest therein is sold or transferred by
<br />Borrower without Lender's prior *;, :to,, ,:pnbent, bxcl:,Jnry (a) iha; uuetion of a Len or encumbrance subordinate to this Deed
<br />of Trust, (b) the Creation of a purchase money security interest for household appliances, (c) a transfer by devise descent 1 1 D ed by
<br />Operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less not containing an
<br />option to purchase, Lender may, at Lender's option. declare all the sums secured by this Deed of Trust to be immediately due
<br />and payable Lender shall have waived such option to accelerate it, prior to the sale or transfer, Lender and the person to
<br />whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to
<br />Lender and that the interest payable on the sums secured by this Deed of Trust shall be at such rate as Lender shall request. if
<br />Lender has waived the option to accelerate provided in this paragraph 1 7, and if Borrower's successor in interest has
<br />executed a written assumption agreement accepted in writing by I. ender Lender shall release Borrower from all obligations
<br />under this Dead of Trust and the Note
<br />If Lender exercises such option to accelerate. Lender shall mad Borrower notice of acceleration In accordance with
<br />paragraph 14 hereof Such notice shall provide a period of not less than 30days from the date the notice is mailed within which
<br />Borrower
<br />Y• wi may pay the Su orddemanddue If Borrower fads to pay such sums prior to the expiration of such period. Lender
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<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and spree as follows: h 18 hereof.
<br />16. Acceleration; Remedies Except as provided In naragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower In this Deed of Trust. Including the covenants to pay when dueany sums secured by this Deed of Trust,
<br />Lender prior to acceleration shall mad noires to Borrower as provided m paragraph 14 hereof specifying (lithe breach; (2) the
<br />action required to cure such breach, 13) a date. not less than 30 days from the date the notice is mailed to Borrower, by which
<br />such breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice may result in
<br />acceleration of the sums secured by this geed of Trust and sale of the Property The notice shall further inform Borrower of the
<br />right to reinstate after acceleration and the right to bring a court action to assert the nor - existence of a default or any other
<br />defense of Borrower to acceleration and sale if the breach Is not cured on or before the date specified in the notice, Lender at
<br />Lender'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 invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to
<br />C01100 41111 reasonable Costs and expenses incurred in pursuing the remedies provided in the paragraph 18, including, but not
<br />limited to, reasonable attorney's fees.
<br />If the Power of sale is thereof is loca and shahmaiI ccopies of Trustee notice In the manner by applicable law to Borrower and to the other
<br />Persons Prescrit=ed b a Properly or some part
<br />Y applicable law. After the lapse of such time as may be required by applicable law, Trustee shall give
<br />public niotic Pof sale to the persons and In the mariner prescribed by applicable law. Trustee, without demand on Borrower,
<br />of sale in One proms mat puWrc auction to the highest bidder at the time and place and under the terms designated in the notice
<br />the PrOpertr b parcels and such orders Trusted may determine. Trustee may postpone sate of all or any parcel of
<br />y public announcement at any l at the time and place of any previously scheduled sale. Lender or Lender's designee
<br />^wY Purchase ere Prop" at any sate.
<br />Upon receipt ofpaymant Of the Price Did, Trustee shall deliver to the purchaser Trustee's deed conveying the Property sold.
<br />The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply
<br />the Proceeds of the sale in the following order: (a) to all reasonable costs and expenses of the sale, including, but not limited to,
<br />Trustee's lees of not more than _ _ _ %of the gross sale price, reasonable attorney's fees and coals of title evidence;
<br />L (b) to sill Sums secured by this Deed of Trust; and (C) the excess, if any, to the person or persons legally entitled thereto
<br />1'' BW iss al s MOM 10 . Notwithstanding Lender's acceleration of the sums secured by this Deed of Trust,
<br />Borrower "I have the right to have any proceedings begun by Lender to enforce the Deed of Trust discontinued at any time
<br />Prlor to the eaflier o Occur Of (i) the fifth day before the sale of the Property pursuant to the power of sale contained in the Deed
<br />OI Trust (it) entry of a judgment enforcing this Deed of Trust it (a) Borrower pays Lender all sums which would be then due
<br />'1003 silf breach@$ of under this Deed of Trust, the Note and notes securing future Advances, if any, had no acceleration occured:(b) Borrower
<br />Deed r son ""bleex sedan uafedby Lender tand Trustee enforclngthe covenatnt,, rand in agrleem�sof Borrrolwefr contained ain this
<br />to r of Trust and m enforcing Lenders end Trustee's remedies as Provided in paragraph 1 R hereof. Including, but not limited
<br />easbn ofy,e ntlarney a to" and (d) (forrOwer takes such action as lender may reasonably re•gl;Ire ru assure tnat the lien of
<br />this C7eed of r, ^Et. Lenrier'>e <nteresi an that Property end
<br />sr5a..{ rOnnn +.,e n,n1 Ir . l P y % Borrower a obligation to pay the su rs !;wr I wit by Ir s t)eracf of T pus!
<br />Pa ed 1POn st Ch paynionl arid clue by Borrower.IN %Deerd of Trust r 7.1•. r, ri: i. "t li;,
<br />'01419 raarnaw r f, o1 I"'ca! ar'.if effect a;R d no ac ".4.7erallon had ny. c.Vrrt?!f I ,�: y?yi homby
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