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F_ <br />87" 104796 <br />by this Dead of Trust immediately prior to the date of taking beers 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 Linder to Borrower that the condemnor offers to make an award or settle a <br />claim for dernaves. Borrower fails to rompwM to Lander within 30 days after the date such notice is mailed, Lender is authorized to collect and <br />ally the proceeds, a Larder's option, either to restoration or repair of the Property or to the sums sectored by this Deed of Trust. <br />Usk= Leader and Borrower otherwise ate 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 />16. Borrower Not Relrard. Extension of the time for payment or modification of amortization of the sutra secured by this Deed of Trust <br />gri ted by Lender to any succeseor 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 sutras secured by this teed of Trust by reason of any demand made by the original Borrower <br />and Borrower's successors in interest. <br />11. Forboroom by Leader Net 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 />Deed of Trust, <br />12. Illemedles Comaladve. All remedies provided in this Deed of Trust are distin,-t and cumulative to any other right or remedy under this <br />Dad of Trust or afforded by law or equity, and maybe exercised concurrently, independently or successively. <br />13. Sototomra W Assigns Based; Joint and Several . The covenants and agreements herein contained shall bind, and <br />the rights hereunder shall inure to, the respective successors and assigns d f 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 he used to interpret or define the provisions hereof. <br />14. Notke. 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 Under 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 />Mice 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 Trion; Governing Law; Severabd ity. 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 teed 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 1•t :severable. <br />16. ON user'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 tie Property; Assamption. 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 feed 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 Teed 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 />