|
. 86-
<br />102086
<br />by this Deed of Trust immediatel_. prior ,, the adic of tatting lo !.sit r: =ar <t value of :Its Property immediately prior t(, the date of
<br />taking, with the balance of the praxcds pail to &,!rower.
<br />If the Property is abandoned by Borrower, or if, after notes by Lender to Borrower that the condemnor offers to make an award or settle it
<br />claim for damages, Borrower fails to respond to Lender within 30 day; 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 1Vof Released. 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 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. Forbewswe by [.coder Not a Waiver. Any forbearance by ].,ender in earn: ;tine any night or remedy hereunder, or otherwise afforded
<br />by applicable law, shall not be a wancr of or preclude the exercir;e of any sn:h r i ." wio ° of rc ned.y. fl!e pi xurement 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. Ruse" Cantuladve. All remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this
<br />Deed of Trust or afforded bylaw (!r equity, and may he exercised concuri-mly, inderiendemly or successively.
<br />13. Successors sad Assigns Bound; Joint and Several Liability; Captions. "Vile ;:ovenams and agreements herein contained shall bind, and
<br />the rights hereunder shall inure in, the respective successors and assigns of Lends: and Bc:rlower. suhject to the provisions of paragraph 17
<br />hereof. All covenants and agreements or Borrower shall be icrn: and acverai. The aprioni and headings of the paragraphs of this Deed of Trust
<br />are for convenience only and are not to. I c sed to interpret or define the ptoc!,`ons hereof
<br />14. Notice. Except for any notice r"4tj :red under applicable !aw to he g!. er h: ,tnot.her manner, (a) ans notice to Borrower provided for in
<br />this Deed of Trust shall be given by maiiirg rtich notice by certified, rnaii aadrescca o: Borrower at the Property Address or at such other address
<br />as Borrower may designate by notice to Lender as provided herzin. and (b; arty notice to ixnder 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. Arty
<br />notice provided for in this Deed of Trust shall he deemed to have been g!vea to Borrower or Leader when given in the manner designated herein.
<br />15, Uniform Deed of Trust; Governing 1.aw; Severability. This lean of deed of trust combines uniform covenants for national use and
<br />non - uniform covenants with limited %anatiom bv - :Ufisdn.tion to constitute a uniform security instrument covering real property. This Deed of
<br />'Trust shall be governed by the law of the )unsdictic!t in which the Property is located- In he event that any provision or clause of this Deed of
<br />Trust or the Note conflicts with applicable law, svch zcintlict ;hall no! affect other previsions of this Deed of Trust or the time which can be
<br />given effect without the conflicting provision. and to this end the provisions u! tire Deed of trust and the 'Vote are declared to be severable.
<br />16. Borrower's Copy. Borrower shall Le fm niched a conformed tops .)'.' the Note and of this Deed of Trust at the time of execution or
<br />after recordation hereof.
<br />17. Transfer of the Property; Assumption. If a)i or any part of the Property or in 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 I rust, (h) the creation of
<br />a purchase money security interest for household nor,; :once,. (cl a transit:! ^: ar:ise, descent or by o) erauon lei law upon the death of a )cunt
<br />tenant or (d) the gram of any leasehold inicrest t;f three y:ars or less not Wntzitnmg an option to purchase. Lender may. at Lender's option..
<br />declare al the sums secured by this Deed of Trust to',ie immcu:atc)y due and p•,sahle Lender shall have waived such option to accelerate if,
<br />prior to the sale or transfer, Lender and the person. to .shorn the Pn,perty !s to he sr, ct t transferred reach agreement if, writing that the credit of
<br />such person is satisfactory to Lender and that the inicrest payable on the c .t a securt-d !-\ this feed of'f rust shall be at such rate as Lender shall
<br />request. If Lender has waived the opuou to ac ciermc provided n, this paragraph 17, mil I( Borrower's successor in interest has executed a
<br />written assumption agreement accepted in s, i,n;g t•y ( ender, Lender shail release Borrower trom all obligations under this Deed of Trust and
<br />the Note.
<br />If Lender exercises stash option to accelerate, Lender .chat: mat! Borrow "r nonce of a.aelerauon to accordance with paragraph 14 herrnf.
<br />Such notice shall provide a period of not less Thar. 10 day, f on! :he dare the nwtc: i:. maned within wh ;ch Borrower may pay" the sums declared
<br />due. If Borrower fails to pay such sums prior t,, tfte e�pnaliolt :,f ch period, f.er,d er tnav, without further notice or demand on Borrower.
<br />m%oiie any remedies permitted by paragraph i8
<br />NON - UNIFORM COVENANLS, Bc,rouc-, and I ender futrhce co%enam and agree :+s follows:
<br />is. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's btcsch of any covenant or apir"Meni of
<br />Borrower in ibis feed of Trust, Including the covenants to pay when due any sums secured by this Decd of Trust, Lender prior to acceleration
<br />shall mail nutlet to Borrower as provided in paragraph 14 hereof specifying: (II the breach. (2) the action required to cure such breach; 13) a
<br />dolt, not Im than 30 days from The date of notice is mailed to Borrower, b% which such breach must be cured; and (4) that failure to cure such
<br />breach on or before the dale specified in the notice may result In acceleration of the sums secured by this Deed of T rust and sale of the Properly.
<br />Tot notice shay further inform Burrower tit The tight to reinstate after acceleration and the right to bring a court action to assert the non -
<br />eableace of a default or any other defense of Borrower to acceleration and sale. If the breach is not cured on or before the dale specified In the
<br />notice, Lester at l eider's option may declare all of the sums insured by this !peed of ]'rust Tit be immediately due and payable without further
<br />demand and may invoice the power of sale and any other rtmedli s permitted by applicable law. Lender shall be entitled to collect all reasonahic
<br />cosh dad expenses Incurred in pursulnK the remedies provided In ibis paragraph IN, including, but not limited to, reasonable attorney's (ties.
<br />If the power of sale it Invoked, Trustee .hall record a notice of default In each county in wh)th the Property or some part thereof is lofated
<br />ant snap matt copied of such Nonce in the mtianer prescribed by applicable law w Borrower tied to the other persons prescribed by applicable
<br />low. After the islow of such .;wA as may Ire required by app)icabk Inw, I rustre shall ghe public notice of sale to the persons and in the manner
<br />prescribed by applicable law. Trustee, without dernaod on Borrower, shall sell the Property at public auction in the highest bidder at the time
<br />nerd toilette aN sailer the terw designated in the notice, of sate in one or more parcels and In such order as Trustee may determine. Trustee may
<br />pnsepone sate of ON or any parcel of the Property by public announcement at the time and place of any previousls wheduted sale. Lender tit
<br />Lender's designs, nay purchase the Property at any sale.
<br />Upon receipt of psyrntat of The price bid, Irust" !bait dehter to the pureha%cr I router'% deed conveying the Property %old. The recilai% in
<br />the Trull "b deed %it" be proms rack evidtocr of the truth of the Hatemeala ntadr ihefrin I "ruse -r shall tipph the pnw•erd of the safe in the
<br />ktNowlp order: (a) to dt reawnrtble rrt%ty and rtpenses of the sale, including. but not limited tit, T ro %t",q it" of our more than r'.,
<br />M the yak
<br />grass )trite, reaswnabk aUotney y tees and eo %t% tit titM r�iden r, I t+i to all +tin% art urrd by this IMcd of (i rust: and it the rte r%s, it
<br />any, to Ines penoa of persona "ally, tain" thereto
<br />14. Buxfowet" Rtght hr Ketnnrarf. .. i . ,,,,' I r., 1„ -.", —,
<br />. ,.., ,. . ,
<br />..
<br />r, !h, ,.<e -,. en<
<br />
|