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<br />by this Dead of Trust immediately prior to the dale of taking bears to the fair market value of the Property immediately prior to the date of
<br />taking, with the balance of the procoe& 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 />lodes for reneges, 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 proceeds, at Ladder's option, either to restoration or repair of the Property or to the sums secured by this Deed of Trust,
<br />Utz 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 />It. Den ones Not 1Relawd. Extension of the time for payment or modification of amortization of the sums secured by this Deed of Trust
<br />granted by Leader to any successor 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 or 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. Fwbnnmm by Leader Not • 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 Taut.
<br />IL BeoetBm (eve. 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. Sneeem I ad A low 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 conveniatce 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 trailing 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 he 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 Dad of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />13. Umitoro Deed of TntiR; Goverdag Law; Servenbillity. This form of deed of trust combines uniform covenants for national use and
<br />ton- uniform 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 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. Dwrotwer'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; Aseaooden. 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 matey 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 le'asebold 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 sums secured by this Deed 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 remedks permitted by paragraph 18 hereof.
<br />NON - UNIFORM COVENANTS. Borrower atul Lender further covenant and agree as follows:
<br />111. Acedermstioo; Remo". Exapl an provided to paragraph 17 hereof, upom Borrower's breach of any covenant or agreement of
<br />lget.9-m br this Dad of Trutt. Including the cevt is to pay when doe soy sums secured by this Deed of Trust, Lender prior to acceleration
<br />shall mall motet to Sorensen an provlitd Is pregraph 14 bermis specifying: (1) the breach; (2) the action required to care such breach; (3) a
<br />dare, most lent thm 30 days from the daft of notes is mailed to Borrower, by which web breach must be cured; and (4) that failure to cure such
<br />breach em or before the data specified In the modm my tit IN aneleratlem of the sums secured by this Deed of Trust and safe of the Property.
<br />The motlee shall further hilemm Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non -
<br />tadpsa, of a doluM or my other I fedre of Bomawer, to acceleration amd s0o. if Use breach Is not cured on or before the date specified in the
<br />IT Ledw at leader's modem my I Is' - all of the sum a lecwed by this Deed of Trust to be immediately due and payable without further
<br />dsnma I and may brvohe the power of oak and my other remedies permitted by applicable law. Leader shag be entitled to collect aU reasonable
<br />oom and eape a imem i br porsmiq tin* rents N provided IN this paragraph 18, Itr W ft, but not flashed to, reasonable anorney'a fees.
<br />It Me power of sale Is urohad. Tttmese shall record a notice of defani to each county in which the Property or some part thereof Is located
<br />and shill and copier of each mthtice In the ewer prescribed by applicable low to Borrower and to the other persons prescribed by applicable
<br />law. After tie lope of each dooms may be i"als by applicabk law, Trustee shall give public notice of sale to The persons and In the manner
<br />praat, N - by apple" low. Trudw, wltitsttt deesmd M Borrower, shall see the Property at public auction to the highest bidder at the time
<br />and phase amd mdsr, The' dm gmant in an mote* of ask is one or more parcels sod in such order as Trustee may determine. 7 rustee may
<br />peMpeae solo of 90 or mp pared of de Property by public mmormeemenl at the time and place of any previously scheduled sale. Leader or
<br />Lenow%datpw oq penchant lie Property at my wk.
<br />Upon faF 1 l of Instillment of do price bhp, Tnow shall deliver to the purdaser Trustee's teed conveying the Property sold. The recitals in
<br />Ltie TwWw's 00 be prima fade e Manor of U* bath of the statements made lberNa. Trustee &ball apply the proceeds of the rife In the
<br />fOBnreig ender; (a) N NO nwomahk cops and eaprmoes of The ok, incHdtt . but act United to, Trustee's tees of not more (ban __ . i _ _ _ 4b
<br />atom won Nis prism, /sasom *k arloraey's fear and Cosa of dde evidence; (b) to an sumo secured by this Deed of Trust; and ic) the excess, if
<br />my, M the perm or psrsoan legally nodded therein.
<br />H. Borrower's Rhgbt N Rte. Notwithstanding Lender's acceleration oi the sums secured by this Deed of 1'rust, lists rower .hall have
<br />the tk& to have any proceedings begun by Lender to enforce this teed of Trust discontinued at any time pi wr to the rather to occur ,.f (i) the
<br />fifth day before the sak of the Property pursuant to the power of sale containcsf in this Deed of fru.st cx iiil entry o+ :a j idgi rent entoruuM thr.
<br />Iced of Trust if: (a) Borrower pays Lender all sums which would he then due tinder this 11s ed of 1 ru,r, the ti.,tr mil crew .ei-arrine. l urnrr
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