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87- 103863
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shalt be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Deed of Trust, with
<br />the excess, if 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 procisedsas is equal to
<br />that proportion which the amount of the sums secured by this Deed of Trust immediately prior to the date of taking bears to the
<br />fair market value of the property immediately prior to the date of taking, ith the balance of the proceeds paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender er to Borrower that the condemnor offers to make an
<br />award of 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 not extend 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. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured by this
<br />Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate ioralease, 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 />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 Lendeir in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shalt 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 L.ender shaft not be a waiver of Lender's right to
<br />accelerate the maturity of the indebtedness secured by this Deed of Trust
<br />12. Remedies Cumulative Ail remedies provided !r 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, independently 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 respect; vii successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragrapn 1 7 ne
<br />' reof ,big covenants and agreements of Borrower shall be joint and several. The
<br />captions and headings of the paragraphs otthfs Deed of Trust are tear co -rvenience only and are not to be used to interpret or
<br />define the provisions hereof.
<br />14. Notice. Except for any notice required under apphe aole law in be given in another manner, (a) any notice to Borrower
<br />provided for in this Deed of Trust shall be given by mailing such notice by certified mail 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 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 deemed
<br />to have been given to Borrower or Lender when given in the manner designated herein
<br />15. bee0elk"Toliliall; Governing Law; Sov*rabi#ty. The form of deed of trust combines uniform covenants for
<br />"aa
<br />no -weliftow000veriants with limited variations by jurisdiction to constitute a uniform security instrument
<br />cover 0iffill PammirietTrust shall be governed by the law of the jurisdiction in which the Property is located. In
<br />tt* ev clause of this Deed of Trust or the Note conflicts with applicable law, such con' ;ict shall not
<br />Deed
<br />afk1*&e&rprovisions of this 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 to be severable.
<br />16. grower's Copy. Borrower shall he 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. Trainsillor of the Property; Assumption. It ail or any part of the property or an interest therein is sold or transferred by
<br />Borrower without Lender's prior written consent, excluding (a) the creation of a lien 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 or by
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<br />operation of law upon the death of 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 if, 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. It
<br />MR,
<br />Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has
<br />executed a written assumption agreement accepted!n writing t)y Lerder, Lender shal! release Borrower from all obligations
<br />under this Deed of Trust and the Note.
<br />It 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 which
<br />Borrower may pay the sums declared due It Borrower falls to pay such sums prior to the expiration of such period, Lender
<br />may, without further notice or demand on Borrower, invoke ant' ; e.;-nedies permitted by paragraph 18 hereof.
<br />114011111-UNIFORM COVENANTS. ftffowef and Landef further covenant and agree as follows:
<br />18. Ac ate; Remedies. Except as provided in paragraph 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 due any sums secured by this Deed of Trust,
<br />Lender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying (1) the breach; (2) the
<br />action required to cure such breach; (3) 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 Deed of Trust and sale of the Prop". 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 non-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 />delril and may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to
<br />collect all reasonable costs and expenses incurred in pursuing the remedies provided in the paragraph 18, including, but not
<br />limited to, reasonable attorney's tees.
<br />If the power of sale is invoked, Trustee shall record a notice, of default in each county in which the Property or some part
<br />thereof is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the other
<br />persons prescribed by applicable law. After the lapse of such time as may be required by applicable law, Trustee shall give
<br />public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower,
<br />shelf sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice
<br />of 9" in one of more parcels and in such order as Trustee may determine. Trustee may postpone sale of all or any parcel of
<br />the Prop" by public announcement at the time and place of any previously scheduled sale. Lender or Lender's designee
<br />may purchase " Prop" at any safe.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying he Property sold,
<br />The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. VuMee shall apply
<br />the proceeds of the sale in the Viewing order: (a) to all reasonable costs and expenses of the sale, including, but not limited to.
<br />Trustise's fees, of not more than _...% of the gross sale price, reasonable attorney's fees and costs of title evidence;
<br />(b) to 0 sums secured by this Deed of Trust; and (c) the excesa, it any, to the person or persons legally entitled thereto.
<br />19. lillorreiiiii R19M to Notwithstanding Lender's acceleration of the sums secured by this Deed of Trust,
<br />Mwower shall have the right to have any proceedings begun by Lender to enforce the Deed of Trust discontinued at anytime
<br />P(XX to Me eadw to occur of (i) the fifth day before the sale of the Property pursuant to the power of sale contained in the Deed
<br />of Trust (it) entry of a judgment enforcing this Deed of Trust it: (a) Borrower pays Lender all sums which would be then due
<br />undier this DOW of Tru%L the Note and not securing Future Advances, if any, had no acceleration occured:(b) Borrower
<br />cures all breaches of any othw covenants or agreements of Borrower contained in this Deed of Trust, (c) Borrower pays all
<br />reasonable exporsas incurred by Landef and Trustee enforcing the covenants and agreements of Borrower contained in this
<br />D*W of Trust and in enforcing Landet's and Trust 's remedies as provided in paragraph 18 hereof, triciuding but not limited
<br />110, feasw ,*b4eallorney'% fees, and (d) Borrower takes such action as Lender may rea%Onably require to ASsiiie that the hey, of
<br />Itilis [Meti 0 TV,,,,%' l,or f % interest 11) the Property and Ho ,rowel 'i obligation to pay the sums sect vied b), this Def'"I of I rust
<br />%h*l cont4riue kiniflnpwrnl Uvjvsw h vayment and cute by M)rro*vt IN% Oepo;,o T i usi ai o r)pfpbv
<br />%tld" '04"Air-, fi 1k, t.;} t e ar,d offer-:t 3s it accefernlwo had rJ4 f—irred
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