|
86, i01�2pp by this Deed of Trust immediately prior t o ahe date of taking bear' tO tie 'n;r r:&7kern s 31-.w of the Proediatety prior to liter date of
<br />taking, with the balance of the proceeds paid ;o Borrower.
<br />If the Property is abandon by Borrower, or if. after notice by Ler.des :o Borrower that the condemnor offers to make an award or settle a
<br />loom for datrtye;s. Borrower fads to respond to Lender within 30 days afar the date such notice is mailed, Lender is authorized to crollxt and
<br />apply the proceeds. at Lender's option, other io resdorw=' or repair of the Property or to the stuns secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwnc agree in writing, any such application of proceeds to principal shah not reread 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 />1t. Borrow" Not 1Rslnh KL Extension of the tiro for paysnem 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. Ferbamamee by Leader Not a Waiver. Arty forbearance by Lander in exercising any right or remedy hereunder, or otherwise afforded
<br />by applicable law, shall not be a waive- of or preclude the exercise of arty such righ! j-, c emedy. T he procurement of insurance or the payment of
<br />tam or other bass 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. Rome" Cnmrhvdve. Ali remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this
<br />Dead of Trust or afforded by law or egan %, and tray be exercised concurrently, independently or successively.
<br />13. Sweeesen red A kps Board; Joint and Several Lubibty; Captions. Tile covenants and agreements herein contained shalt bind, and
<br />the rights hereunder shall inure to, L'te respective successors and assigris of Len le, and Borrower, subject to the provisions of paragraph F'
<br />hereof. AN covenants and agrectncr.ts of Borrower shall be joint and sevcral. The captions and headings of the paragraphs of this Deed of Trust
<br />are for convenience only and are not to be ::.seed to interpret or define the prow i!. ors hereof_
<br />14. NoGm. Except for any notice required under applicable law to be br.en in another manner, (a) any notice to Borrower provided for in
<br />this Deer! of Trout shall be given by mailing such notice by certified mail addressee 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) an y notice to Lender shall be given by certified mail, return receipt
<br />requested, to Lender's address stated heron or to such other address as Lender may designaic 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 Treat; Governing Law; Seversbflity. 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 rcnflict 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 />If. Borrower's Copy. Borrower shall be furnished a conformed copy of the Dote 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 tray, at Lender's option,
<br />declare all the scams 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 acceierate 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 ail 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 la hereof.
<br />Such notice shall provide a period of not less that. ;0 days `torn 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 herecl.
<br />NON- UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />18. iAccdetzsioa; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of
<br />Bass Saw in this Deed of TraN, including the covenants to fay when due any sums secured by this Deed of Trost, Lender prior to acceleration
<br />abut MO splice u Borrower as provided is paragraph 14 hereof specifying: (1) the breach; (2) the action required to cure such breach; (3) a
<br />doet, sot km thou 30 days from the daft of notice is ended to Borrower, by which such breach mast be cured; and (4) that foliate to tare such
<br />brooch an or before the daft specified is the notice may rasadt in acceleration of the sums secured by this Deed of Trust and sale of the Property.
<br />The andw shat further hdorm Borrower of the right to retaliate after acceleration and the tight to bring acorn action to man the oon-
<br />esieftem of a ddeak or arty other defame of Borrower to acceleration and wk. if the breach is not cared on or before the elate specified is the
<br />model. Bender at Leader's option may declare a!# of the arms secured by this Deed of Trust to be immediately due and psyobie without further
<br />domead and nay invoice the power of sale aced any other remedies permitted by applicable law. ILeaeier BW be entitled to collect at reahomble
<br />cash and espoon incurred in pursuing the remedies provided in this paragraph 18, including, but not limited to, reasonable attorney's fexs.
<br />H die Penn of hie is invoked. Treace *MB record a notice of default In each county in which the Property or some part thereof is located
<br />and shel ned! copies of sack notice is the manner prescribed by appiieabke law to Borrower and to the other persons prescribed by applicable
<br />law. After the lope of each time as any be required by appUmbie law, Trustee "I give public notice of safe to the person aced in the manner
<br />P I " -d by rppBesbk lace. Trustee, without demand on Borrower. shell sail the Property at public auction to the highest bidder at the time
<br />and pbm ad leader the he dedgrmled in the notice of sale in one or more parcels and in such order as Trustee may determine. Trustee may
<br />ptesOW air of all err ny parcel of the Property by publik arresecemert of the time road place of any previously scredtded sale. header or
<br />Loodisr'a dalpu may phrr —o the Property a l sty uk.
<br />Vpsu raaipt of payment of On price bid, Trustee shall driver to the purcbaser Trustee's deed eorveying the Property sold. The recitals in
<br />A* 7 "raster's deed dm6 be prime fade evidence of the truth of the statements mode therein. Trustee shall apply the proceeds of the sale in the
<br />trMuwrhg ardor. (ei to act reasonable costs and expenses of the sale, inctuding, but not limited to. Trustee's fees of not more than
<br />of the ppws aide prim. reaheaaNe attorney's feee and costs of tide evidence; (b) to all sums secured by this heed of Trust; and 4c) the recess, if
<br />Say, is the person Of persaus tKaft entitled thereto, t+
<br />19. Borrower's Right to iteisstase. Notwn',standrr.g Lender'; accele at;nn of ,tort suns secured cy tit: :)err :>i Trust, Rot ro%et shall have•
<br />the right to have airy prcr_eedings begun by Lender to iStrrce'hc. D-ed ul l .ist dts,ununard a t rev stmt ; ..o• to :itt' ewi!vi :o i,c,4t of to the
<br />fifth day before the sale M the )htgmri> m,,um.i to the ,x) .err A sale coutauted ro !its [ieecl ; t luau ..r i ii rear, .. u:dgmcm c•rttu- n. ,;
<br />n n
<br />I*cll S0 'Tr ,l :.f' tat $ar•uwct pa',s Lender a!i t;:rns wJ.wil a -oa u , _ ! "cn J. tic under him heel , r _. ,. Jet arts •:.... c +:r.tini:
<br />W
<br />
|