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86- 102518
<br />by this Deed of Trust immediately prior to the .late (it tan:,ik -1, r, Ina i..Li! e: valor of : P , i, :'y anmediatet) , pno, •.o the dalc .,i
<br />taking, with the baiance of the proceeds paid to Borrower.
<br />if the Property is abandoned by Borrower, o. if, aILet notice by Lender to Borrower that the condemnor offers to make an award or setiie a
<br />claim for damages, Borrower fails to respond to Lender within 30 days after the date such notices mailed, Lender is authorized to coiled and
<br />r 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 of postpone the due
<br />date of the monthly installments referred to in paragraph, I and 2 hereof or - change the amount of such installments.
<br />l0. Borrower Not Released. Extension of the time for payment or modif ication of amortization of the sums secured by this Deed off rus,
<br />granted by Lender to any successor in interest of Borrower shall nor operate u: release, in any manner, the liability of the original Borrower and
<br />Borrower's successors in ioteres[. Lender shall not he required to cnrnmcna proceedings against such successor or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Deed of r-ust by reason of any demand made by the original Borrower
<br />and Borrower's successors in interest.
<br />H. Forbearance by Lender Not a Waiver. Any forbearance by Lender vreasing any right of remedy hereunder, or otherwise of lorded
<br />by applicable law, shall not be a waiver of or preclude the exit .e of any st +ch. , pit ,>r remedy. Fh, procurement cl insurance or the payinent nt
<br />taxes or other liens or charges by Lender shall not b a waiver of Lende! , -io,; to arc !erica the matmny of the indebtedness secured by ;his
<br />Deed of Trust.
<br />12. Remedies Cumulative. All remedies provi(feci m this peed of 'T: ua are distinct arid zumulative to any other right or remedy under this
<br />Deed of Trust or afforded by law or equity, and ntay be exercised concurrerali, indep erdentis or wccessn efy.
<br />13. Successors and Assigns Bound; Joint and lieveral liability; Captions. -The oc enana and a* ri wrncnts herein contained -hall bind. and
<br />the rights hereunder shall inure to, the s%fimtive rc4eis0r and , ssip i fen.t :ird Borrowct, mhi co to the provisions of paragraph 17
<br />hereof. All covenants and agreements ,r Borrower shall be ioint in,l >rrerai. i tion, and headings of the paragraphs of this Deed , -,f Trust
<br />are for convenience only and are pot [o i,e used io inter; :ref err Jenne the mo%oions
<br />14. Notice, Except for any notice required under applicable law to i>e gt en in another manner, tat any notice To Borrower provided for in
<br />this Deed of Trust shall be given by mailing such notice fr::ertiCcd :nail addre,scd ,c Borrower ar the Proper *.y Address or at such other address
<br />as Borrower may designate by notice io f.enGCr as pr.n Ided ^erein, and (b) a;,-. nc;uce :.o Lender shaii bt. gis en by certified mail, return receipt
<br />requested, to Lender's address stated herein or to such other address as Lende+ aw-, designate by notice to Borrower as provided herein. Any
<br />notice provided for in this Deed of Trust shall he deemed to hart been given to Bocowei or Lender when given in the manner designated herein.
<br />15, uniform Deed of Trust; Governing Law; Se,erability, This lortr, of deed of trus! combines uniform covenants for national use and
<br />non- uniform covenants with limited variations ;1v :urisdiction to corstitute a uniform security instrument covering real property. This Deed of
<br />Trust shall be governed by the law of the ;urisw_tion 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 stall not affect other provisions of this Deed of Trust or the Note which :an be
<br />given effect without the conflicting provision., and to !iris end the prod9sions of the Deed of T -ust and the Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shad he :urnislied a :onformed copy of the N.,,e and of this Deed or Trust at the rnte 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 :t joirt
<br />tenant or (d) the grant of any leasehold interest of three years of less not containing an option to purchase, Lender may, at Lender'. option,
<br />declare all the sums secured by this Deed of Trust to be immediately due and payable. Lender shall have waived such option ro accelerate it,
<br />prior to the sale or transfer. Lender and the person to whom the 'Property is to he sold or transferred reach agreement in :writing that the _rucin If
<br />such person is satisfactory to Lender and that the interest payable cat the sums secured by This Deed of Trust shall he at such rate as Lender shall
<br />request. If Lender has waived [he option io accelcrwc provided in this paragraph I and if Borrower's successor in interest has executed a
<br />written assumption agreement accepted tin 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., i.er:der shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof.
<br />Such notice shall provide a period of not less than 40 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 turther notice or demand on Borrower,
<br />invoke any remedies permitted by paragraph 18 hereof.
<br />NON- UNIFOR,11 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 agreement of
<br />Borrower in this Deed of Trust, including the covenants to pay when due any sums secured by this Deed of Trust, Lender prior to acceleration
<br />shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action required to cure such breach; (3) a
<br />date, not less [ban 30 days from the date of notice is mailed to Borrower, by which such breach must be cured; and (4) that failure to cure such
<br />breach on or before the date specified in the notice ms:y result in acceleration of the sums secured by this Deed of 'Trust and sale of the Property.
<br />The notice shall 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 default 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 />notice, Lender at Lender's option may declare alt 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 safe and any other remedies permitted by applicable law. Lender shall be entitled to collect all reasonable
<br />costs and expenses Incurred in pursuing the remedies provided in this paragraph 18, including, but 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 />and shall mail copies of such notice In the manner prescribed by applicable law u) Borrower and to the other persons prescribed by applicable
<br />law. After the lapse of such time as may be required by applicable law, 'Trustee shall give public notice of sale to the persons and in the manner
<br />prescribed by applicable law. Trustee, without demand on Borrower, shall sell the Property at public auction to the highest bidder at the time
<br />and place and under the terms designated In the notice of sale In one or more parcels and in such order as "reustee may determine. Trustee may
<br />postpone sale of all or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or
<br />Lender's designee 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. The recitals in
<br />flit Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the safe in the
<br />following order: (a) to all reasonable costs and expenses of the sale, including, but not limited to, Trustee's fees of not more than
<br />of the gross sale price, reasonable attorney's fees and costs of title evidence; tb) to all sums secured by this Deed of Irust: and IV) the caress, it
<br />any, to the person or persons legally entitled thereto.
<br />19. Borrower's Right to Reinstate \,r!wrt`i u uunc' I n-+ + a.: I.r11: , "! he wil, c.. (i n ill], 11? 1'1, it... ,. ; ,ball ha"r
<br />the right to have any pnxccdhtg, begw, t L 1:0d•, Ill ,; uf,�t.'a h, ! icrb I 111"; ail „ ;u W1 11131: v+ i, _< .u+he. rzul I to
<br />titlh day before the .ale ,,I ;!.r ; ,Ix•rn u1.ud +n ,•n.eci .r� •e,'c ..1W1, lw,! !.+, t+,
<br />. u.: fir : „.+'�.aJpn,, ,, ,�rta r -rip ,!a.
<br />Dfcd ail 1 r+i,.t d ,al w,r',,,,< pa”, I iJer .ill _ n , . F . ;"' .,,. .nr. ) :,1 1
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