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<br />mailed, Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br />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
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, in any man-
<br />ner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
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<br />proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by this 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,
<br />or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Deed of Trust.
<br />12. Remedies Cumulative. All remedies provided in this Deed of Trust arc distinct and cumulative to any other right
<br />or remedy under this Deed of Trust or afforded by law or equity, and may be exercised concurrently, independently or
<br />successively.
<br />13. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein con-
<br />tained shall bind, and the rights hereunder shall inure to, the resp -ctive successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Deed of Trust are for convenience only and are not to be used to
<br />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
<br />Borrower provided for in this Decd of Trust shall be given by mailing such notice to Borrower at the Property Address
<br />or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any notice to Lender
<br />shall he given by certified mail, return receipt requested, to Lender's address stated herein or to such other address as
<br />Lender may designate by notice to Borrower as provided herein. Any notice provided for in this Deed of Trust shall be
<br />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
<br />for national use and non- uniform covenants with limited variations by jurisdiction to constitute a uniform security instru-
<br />ment covering real property. This Deed of Trust shall be governed by the law of the jurisdiction in which the Property
<br />is located. In the event that any provision or clause of this Decd of Trust or the Note conflicts with applicable law, such
<br />conflict shall not affect other provisions of this Deed of Trust or the Note which can be given effect without the conflicting
<br />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
<br />time of execution or 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
<br />by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this
<br />Deed Trust,
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<br />of (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
<br />descent or by operation of law upon the death of a joint tenant, or, (d) the grant of any leasehold interest of years or less
<br />not containing an option to purchase. Lender may, at Lender's option, declare all the sums secured by this Decd of Trust
<br />to be immediately due Lender
<br />and payable. shall have waived such option to accelerate if, prior to the sale or transfer,
<br />Lender
<br />and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such
<br />person is satisfactory to Lender and that the interest payable on the sums secured by this Reed of Trust shall be at such
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<br />rate as Lender shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's,'
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<br />successor in interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release
<br />Borrower from all obligations under this Deed of Trust and the Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period,
<br />Lender mav, withhout further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
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<br />In the event of any transfer of title to the property above described by the Borrower during the existence of this Deed
<br />of Trust either by sate or otherwise. the Lender may at its option charge a fee for the transfer of the Decd of Trust, and
<br />may also at its option adjust the interest rate to the rate being charged on new Deeds of Trust at the time of said transfer.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />18. Accleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of env covenant or
<br />agreement of Borrower in this Deed of Trust, including the covenants to pay when due any sums secured by this Deed of
<br />Trust, Lender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the
<br />breach; (2) the action required to cure such breach; (3) a date by which such breach most be cured; and (4) that failure
<br />to cure such breach on or before the dale specified in the notice may resuM in acceleration of the sums secured by this
<br />Deed of Trust and sale of the Properly. if the breach is not cured on or before the date specified in the notice, Lender at
<br />Lender's option may declare oil of the sums secured by this Deed of Trust to be immediately due and payable without
<br />further demand and may invoke The power of sate or any other remedies permitted by applicable law including, but not
<br />limited to, foreclosure of this Deed of Trust as a mortgage. Lender shall be entitled to collect all reasonable costs and
<br />expenses Incurred in pursuing the remedies provided in this paragraph 18, including, but not limited to, reasonable at•
<br />torney'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
<br />Part thereof is located and shall mail copies of such notice In the manner prescribed by applicable law to Borrower and to
<br />the other person prescribed by applicable low. After the lapse of such time as may be required by applicable law, Trustee
<br />shall give public notice of sae to the persons and in the manner prescribed by applicable law. Trustee, without demand on
<br />Borrower, shelf sell the Property at public auction to the highest bidder at the time and place and under the terms designated
<br />I" the notice of sale In one or more parcels and in such order as Trustee may determine. Trustee may postpone sole of all
<br />or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or
<br />Lemder"s desip le may purchase the Property at say sale.
<br />U1— rec0* of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property
<br />sold• The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. The Deed
<br />shall operate to convey to Moe purchaser, without right of redemption, all right. title, interest and claim of the Trustee, the
<br />Tom, and the Treatises successors in Interest and all persons chiming by, through or under them in and to the property
<br />soli, including 1111 right, title, intereat and claim in and to the property acquired by the Truster or his successors In interest
<br />subsequent te Moe execution of Me Trust Deed and including all right, title, interest and claim in the property acquired by
<br />env peasm subsequent to the execution of this Trust Deed by reason of a deed. mortgage, trust deed, construction lien,
<br />tax fien, judgement, lease, option, land contract, purchase contract or otherwise. Trustee shall apply the proceeds of Ike
<br />sale in she following order: (a) to ail reasonable costs wad expenses of the sale, including, but not limited to. Trustee's
<br />fees of net waft Man S% of the grass sale price. reasonable attorney's fees and costs of title evidence; (b) to all
<br />wm►s !secs Vd by Mds Deed of Try; and (c) the excess, If any, to Ike person or persons legally entitled thereto.
<br />19. AssillomeW of Reob; Appointment of Receiver: Lender in Possession. As additional security hereunder. Borrower
<br />herehv assigns u, [.ender the rents of the Property, provided that Borrower shall, prior to acceleration under paragraph 1R
<br />hereof on aban(h nmcnt of the Property, have the right to collect and retain such rents as they become due and payable
<br />UP011 sccelcration under paragraph IR hereof or abandonment of the Property, Lender, in person, by agent or l,v
<br />tudKially appsrrintcd rccei <er, %hall 1+c entitled to enter upon, take f>,c%mon of anti manage the Ptoperty 'Ind to collect the
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