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87-105271
<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 shall 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 proceeds as is equal to
<br />that proportion which the amount o(the sums secured by this Deed of Trust immediately prior to the data of taking bars o the
<br />fair market value of the property immediately prior to the date of taking, with the halance of the proceeds paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by Lander to Borrower that the condemnor offers to make an
<br />award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the data such notice fa 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 notextend 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 successorJn interest of Borrower shall not operate to release, in any manner, the
<br />liability of the original Borrowerand 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 />Deed 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 Walvar. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall 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 Lender shall 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 All remedies provided in 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 respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. The
<br />captions and headings of the paragraphs of this Deed of Trust are for convenience only and are not to be used to interpret or
<br />define the provisions hereof.
<br />14. Notice. Exceptfor any notice required under applicable law to 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 orto such otheraddress 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 to Borrower Lender in the designated herein.
<br />given or when given manner
<br />15. Uniform Deed of Trust; Governing Law; SeverabiYty. The form of deed of trust combines uniform covenants for
<br />national use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument
<br />covering real property. This Deed of Trust shall be governed by the law of the jurisdiction in which the Property is located. In
<br />the event that any provision or clause of this Deed of Trust or the Note conflicts with applicable law, such conflict shall not
<br />affect other provisions of this Deed 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. Borrower's Copy. Borrower shill' be 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. Transfer of the Property; Assumption. If all 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
<br />operation of law upon the death of a joint tenant or (d) the grant of any leasehold interestof three years or less notcontaining an
<br />option to purchase, Lender may, at Lender's option, declare all the sums secured by this Deed of Trustto 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 If
<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 in writing by Lender. Lender shall release Borrower from all obligations
<br />under this Deed of Trust and the Note.
<br />If 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 datethe notice is mailed within which
<br />Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period, Lender
<br />may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />NONUNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />18. Acceleration; 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 Property. 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 />demand and may invoke the power of sale and any other remedies Dermitted by applicable law. Lender shall be entitled to
<br />collect all reasonable costs and expenses incurred in pursuing the!emedies provided in the paragraph 18, including, but not
<br />limited to, reasonable attorney's fees.
<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 />shall sell the Property at public auction to the highest bidder at the time and place and underthe terms designated in the notice
<br />of sale in one or more parcels and in such order as Trustee may determine. Trustee may postpone sale of all or any parcel of
<br />the Property by public announcement at the time and place of any previously scheduled sale. Lender or Lender's designee
<br />may purchase the Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property sold.
<br />The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply
<br />this proceeds of the sale in thefollowing order: (a) to all reasonable costs and expenses of the sale, including, but not limited to,
<br />Trustee's tees of not more than % of the gross sale price, reasonable attorney's fees and costs of title evidence;
<br />(b) o all sums secured by this Deed of Trust. and (c) the excess, if any, to the person or persons legally entitled thereto.
<br />L 1f. Berrew.r's b IAe1ralNe. Notwithstanding Lender's acceleration of the sums secured by this Deed of Trust,
<br />Borrower shalt hays flue right to have any proceedings begun by Lender to enforce the Deed of Trust discontinued at anytime
<br />.prior to the earlier to occur of (1) the fifth day before tha sale of the Property pursuant to the power of sale contained In the Deed
<br />of trust (if) entry of a judgment enforcing this Dead of Trust if: (a) Borrower pays Lender all sums which would be then due
<br />under this Dead of Trust, the Note and notes securing Future Advances, if any, had no acceleration occured:(b) Borrower
<br />cures all breaches of any other covenants or agreements of Borrower contained in this Deed of Trust (c) Borrower pays all
<br />reasonable expenses incurred by Lender and Trustee enforcing the covenants and agreements of Borrower contained in this
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<br />Deed of Trust and in enforcing Lender's and Trustee's remedies as provided in paragraph 18 hereof, including, but not limited
<br />to, reasonable attorney's fees; and (d) Borrower takes such action as Lender may reasonably require to assure that the hen of
<br />this Deed of Trust, Lender's interest in the Property and Borrower's obligation to pay the sums secured by this Deed of T rust
<br />Upon by Borrower, this Deed of Trust and the obhgationN secured hereby
<br />shalt continue unimpaired. such payment and cure
<br />shall remain in full force and effect as II no acceleration trod occurred
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