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87- 104360
<br />by this Deal of Trust immediately prior to the date of taking boars to the fair market value of the Property immediately prior to the date of
<br />taking, with the balance of the proceeds paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by tender to Borrower that the condemnor offers to make an award or settle a
<br />claim for damages, 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 Lender's option, either to restoration or repair of the Property or to the sums secured by this Aced of Trust.
<br />Unless 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 />W. Borrower Not iRekomill. Extension of the time for payment or modification of amortization of the sums secured by this Deed of Trust
<br />granted by Lander 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. Forbearance 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 />Dad of Trust.
<br />12. Roondks Cumulative. 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 bylaw or equity, and maybe exercised concurrently, independently or successively.
<br />13. Succomm and AssIM 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 convenience 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 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 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 Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Uniform Deed of Trust; Governing Law; SeverabiRty. This form of deed of trust combines uniform covenants for national use and
<br />non- 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. Borrower'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; Assumption. 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 money 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 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 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 remedies permitted by paragraph 18 hereof.
<br />NON- UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />18. Acceleration; Remedies. Except as provided is paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of
<br />Burrower in this Deed of Trust, including the covenants to pay when due any sums secured by this Dad of Trust, Leader prior to acceleration
<br />shall mad notice to Borrower our provided in paragraph 14 hereof specifying: (1) the breach; (2) the action required to core each breach; (3) a
<br />date, act lest than 30 days from the date of notice Is maUed to Borrower, by which such breach most be cured; and (4) that failure to care such
<br />Meech na or before the date specified in the notice may result In acceleration of the sums secured by this Deed of Trust mad sak of the Property.
<br />The notice" further inform Borrower of the right to Mnstate efts acceleration and the right to bring a court action to aaert the non.
<br />tldstence of a detauk or any other defense of Borrower to accetendoo and sale. It the breach Is not cured on or before the date specified in the
<br />notice, Lender at Leader's option my declare Ali of the sums secured by this Deed of Trust to be Immediately due and payable without further
<br />tha and and my invoke the power of seek And any other remedies permitted by applicable law. Leader shall be entitled to collect all reasonable
<br />costs sad expeusss incurred In pursuing the remedies provided in this paragraph 18, including, but not limited to, reasonable attorney's fees.
<br />If the power of safe Is invoked, Trustee shall record a notice of default in each county In which the Property or some part thereof is located
<br />and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the other persons prescribed by applicable
<br />law. After the lopor of such time as my be required by Appliable law, Trustee shall give bdc notice of sale to the _.__..
<br />gt Pu persons and is the manner
<br />I - - 1- by applicable law. Trustee, without demand on Borrower, &ball sell the Property at public auction to the highest bidder at the dme
<br />and place and ender the term designated In the notice of safe In one or more parcels and In such order an Trustee may determine. Trustee may
<br />postpone Ada of dl or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. lender or
<br />Lgder'$ dalopeee my purchase the Property al any ask.
<br />Upon receipt of payment of The price bid, Trustee skaB deliver to the purchaser Trustee's deed conveying the Property sold. The recitals In
<br />L Tree's dead shall be prim face evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the smie in the
<br />todewhg order: (a) to oil reasonable costs sad expenses of the sale. Including, boo not limited to, Trustee's fees of not more than
<br />of the grass ask price, reaoaabk Attorney's tees mad costs of dtk evidence; (b) to all sums secured by Ibis teed of
<br />ants 1'rusl; and (c) the recess, It f... y, to tie parses or persons kWMy entitled thereto. t
<br />19. Borrower's Right to Retardate. Notwithstanding Lender's acceleration o the sums secured by this feed of Trust, IIorro%rt .hall htne fl
<br />the right to have any proceedings begun by Lender to enforce this Deed of Trust discontinued at ;sty lose pilot to the earlie, n, .krcar . +i tiJ the a
<br />fifth day before the sale of the Property pursuant to the power of sale contained in this bred of 1 rusl rat tidal ens% of a Judgment entoicIng 1111,
<br />Deed of Trust if: (a) Borrower pays l..ender all sums which would be then due order this Deed of I rust. the Note and not r, +reining f %rt. ,e
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