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87104577
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87104577
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Last modified
10/19/2011 10:42:30 AM
Creation date
3/27/2008 2:38:10 PM
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DEEDS
Inst Number
87104577
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t <br />104577 <br />by this Deed of Trust immediately prior to the date of taking bears 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 Lender to Borrower that the condemnor offers to make an award or settle a <br />claim for damagles. Borrower fails to respond to Leader within 30 days after the date such notice is mailed, fender is authorized to collect and <br />apply the proceeds. at 's option, either to restoration or repair of the 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 or postpone the due <br />clone of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. <br />10. berrower IYot Lased. 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 intam of Borrower shall not operate to release, in any manner, the liability of the original Borrower and <br />Borrower's successors in interest. Leader shall not be required to commence proceedings against such successor or refuse to extend time for <br />payment or otherwise modify amortization of the sutras 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. FarMerxoe by Lassiter Nets Wadver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded <br />byappbcabk law, shag 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 stall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this <br />Deed of Trust. <br />113. Bbattdfes C . All remedies provided in this feed of Trust are distinct and cumulative to any other right or remedy under this <br />Deed of Treat or afforded bylaw or equity, and may be exercised concurrently, independently or successively. <br />13. 8aeeesso s seed Assigns Bead; Jolt aM Several Ll"ty; Capdow. 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 />arc for convenience only and are not to be used to interpret or define the provisions hereof. <br />14. No". 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 nr at such other address <br />as Borrower may designate by notice to Lender as provided herein, and (b) any notice to fender shall . be given by certified mail. return receipt <br />requested, to Lender's address stated herein or to such other address as tender may designate by notice to Borrower as provided herein. Any <br />notice provided for in this Dead of Trust stall be deemed to have been given to Borrower or Lender when given in the manner designated herein. <br />13. Usiffwtts Dad of Trost, Govt Law; SevendMity. This form of deed of trust combines uniform: covenants for national use and <br />tor- uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. This !Teed of <br />Tram 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 teed of Trust or the Note which can he <br />given effect without the conflicting provision, and to this end the provisions of the Deed of Trust and the Note are Je^clared to be severable. <br />K. Barrawer's Cagy. Borrower shall be furnished a conformed copy of the Note and of this [Teed of Truss at the time of execution or <br />after recordation hereof. <br />17. Trander of the Frew y; Assamption. If all or any part of the Property or an interest therein is ,oid or transferred M Borrower <br />without Letter's prior written eonseml, excluding (a) the creation of a lien or encumbrance subordinate io t li, . Deed t> f Trust, ib) the creation of <br />a purchase motley purity interest for household app(fances. (cl a transfer by devise, descent or by operation of law upon the death of a joint <br />tenam or (d) the grant of any kistichold 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 />pry to the saleor 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 :flat the interest payable on the sums secured by this Ilea[ of Trust shall be at such rate as Lender shall <br />request. If Lehr 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 teed of Trust and <br />the note. <br />If Unda emam such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. <br />Such notice shall proves 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 faint to pay such sums prior to the expiration of such period, Lender may, without further notice or demand on Borrower, <br />invoke any remedies p irmatted by paragraph Ig hereof. <br />
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