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86-- 10199
<br />by this Deed of 'Trust immediately prior io 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 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 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 />date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments.
<br />10. Borrower Not Rokamd. Extension of the time for payment or modification of amortization of the sums secured by this Deed of Trust
<br />granted by Lender 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 he 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. Forbsarauce by Lender Not s Waiver. Any forbearance by Lender in e\ercking any right or remedy hereunder, or otherwise afforded
<br />by applicable law, shall not he a waiver of of 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 a acctlerate the maturity of the indebtedness secured by this
<br />Deed of Trust.
<br />12. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct and cumulative fo any other right or remedy under this
<br />Dad of Trust or afforded by lave or equity, and may be exercised concurrently, independently or successively.
<br />13. Successors and Assigns Bound; Joint and Seven[ 1.1obility; 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 Dad 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) arry 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 shalt 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; Severability. This form of deed of trust combines uniform covenants for national use and
<br />non- uniform covenants with limited variarons by jurisdiction to constitute a uniform security instrument covering real property. This Deed of
<br />Trust shalt 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 taw, such conflict shall not affect other provisions of this Dad of Trust or the Note which can be
<br />given effect without the conflicting provision, and to t his 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 !Vote 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 M 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 housenold appliances, (c) a transfer ey 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 per <on tit 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 he 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 shaii mail Borrower notice of acceleration in accordance with paragraph 14 hereof.
<br />Such notice shall provide a period of not less than 10 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 hertrof.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />13. Acceleratles; Remedies. Except as provided in pangraph 17 hereof, upon Borrower's breach of any covenant or agreement of
<br />Borrower in ibis Deed of Trust. isclading the covenants to pay when due any sums secured by this Deed of Trust, fender prior to acceleration
<br />9W stall notice to Borrower as provided in paragraph 14 hereof specifying: (I) the breach; (2) the action required to cure such breach; (3) a
<br />dole, not lees this 30 days from the date of notice is msfled to Borrower, by which such breach must be cured; and (d) that failure to cure such
<br />breach on or before the date specified In the notice may result in acceleration of the sutras secured by this deed of Trust and sale of the Properly.
<br />Tile notice shelf further inform Borrower of The right to reinstate after acceleration and the right to bring a court action to assert the non-
<br />existence of a defsail or any other defense of Borrower to acceleration and sale. If the breach is not cured on or before the date specified in the
<br />antics, header at fender's option may declare oil of the sums secured by this Deed of 'Trust to be immediately due and payable without further
<br />demmntl and may invoke the power of sale and any other remedies permitled by applicable law. fender shall be entitled to collect all reasonable
<br />crisis end expenses Incurred In pursuing The remedies provided In this paragraph 18, Including, bur not 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 thereof is located
<br />nod sW =0 copies of such notice in the manner prescribed by applicable law to Borrower and to the other persons prescribed by applicable
<br />low. Attlee the teepee of such ti:ae w any be required by applicable law, Trustee shall give public notice of sale to the persons and In the manner
<br />practliN by applicabk law. Trustee, without demand oa )borrower, shall sell tits Property at public auction to the highest hidder at the time
<br />aced place and ender (be terms diesigmated In the notice of sate In one or more parcels and in such order as "Trustee may determine. Trustee may
<br />postpone sole of aB or my parcel of the Property by public announcement at the time and place of any previously scbeduled sale, fender or
<br />Iws/er's I1N1gnaa may purchase life Property of any sale.
<br />"
<br />Uposs receipt of psymeat of the price bid. T'ruslte shall deliver to the purchaser Trustee's deed conveying the Property said. 'The recJtak in
<br />If* Tns/ee's deed sheep be prima fade evidtace of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the
<br />following fader: (el to cep reaaom d de costs and evtpeasea of the sale, including, but nor limited in. Trustee's fees of not more than _ i.
<br />of The grow sails price, rensoaabie atloraey'i firs and costs of title evidence: t hi to all sums secured by this tired of Trust; and (c) the escess, if
<br />t
<br />toy, to the per"s of irmoss legally raided thereto.
<br />19. Brirrtrwret Right to RNeslale•Nielfelth}1 ;At1;<tilk 1 lilts �, .t:: ",ai tic ,tl,ll !- 'wcd Ow 1),4rd i, 1 I -. l:"l. Ito, T o, el '. hall l li1•,'
<br />the right ht ha>; r, •ray pr[u: rrdttlK� ix'xvn ray Lreticr ._�..,. :hr, I>• -e"i 1, I 1 ��. >; !; i ,,m l:nle.i ,1I alt a t,rna .the i.cl ,. ..,. 1.
<br />I rith day Wove the *Air of t'ic I'-c,ty- is !,,it r i n chi, i :c< I c, I r.;. u ,_nl.
<br />1 :1ty"i c.t iris °t if tat Bt?t 7 th f. , .+ t alb a t,t ».tn'.k .., �K' ..II :C ..iii :t :t' ;, 1 e.. _..� , Ill .l .
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