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<br />ss— 102553
<br />�A Con*Wrialion.
<br />The pio ce,)s of any award sr claim tar damages, direct or consequential, in connection with any
<br />condemnaivon 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 he applied to the sums secured by this Deed of Trust,
<br />with the excess, if any, paid to Borrower. in the -:vent of a partial taking of the Property. unless Borrower and Lender
<br />otherwise agree in writing, there shall be applied to the sums secured by this Deed of Tn ist such proportion of the proceeds
<br />as is equal to that proportion which the amount of the sums secured by this Deed of Trust immediately prior to the date of
<br />taking fears to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br />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
<br />an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days affer the date such notice is
<br />mailed. Lender is authorized to collect and apply the proceeds. at Lender's option, either to restoration or repair of the
<br />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
<br />or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />such installments.
<br />10. Borrower Not Released. Extension of the time for payment or modificaiion of amortization of the sums secured
<br />by this Deed of Trust granted by Lender to any successor in interest of Borrc.cver shall not operate to release, in any manner.
<br />the liability of the original Borrower and Borrower's successors urn interest. Lender shall not be required to commence
<br />proceedings against such successor or retuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by this Deed of Trust by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />If. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not he a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Decd of Trust
<br />12. Remedies Cumulative. All remedies provided ul thi, Deed of Trust are distinct and cumulative to any other right
<br />or remedy under this Deed of Trust or afforded by law or equity, and may he exercised concurrently, independently or
<br />successively.
<br />13. Successors and Assigns Bound; !oinf and Several Liability; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereundlcr ,half 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.
<br />The captions and headings of the paragraphs of this Decd of Trust are for convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required under apphcahlc law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Deed of Trust shall be given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />(b) any notice to Lender shall he given by certified mail, return receipt requested, to Lender's address stated herein or to
<br />such other address as Lender may designate by notice to Borrower :its provided herein. Any notice provided for in this
<br />Deed of Trust shall he deemed to have been given to Borrower or Lender when given m the manner designated herein.
<br />IS. Uniform Deed of Trust; Governing Law; Se%erabilils. Thu; form of deed of trust combines uniform covenants for
<br />national use and non- uniform covenants with lintucd vanation% by wrisdicuon n, constitute a uniform security instrument
<br />covering real property. This Deed of Trust shall he gtwerned by the law it the jurisdiction in which the Proper'y is located
<br />In the event that any provision or clause of this Deed of `trust or the Note conflicts with applicable law, such conflict shall
<br />not affect other provisions of this Deed of Trust or the Note which can he ;;:ven effect without the conflicting provision.
<br />and to this end the provisions of the Deed of Trust and the Note are declared u, he severable.
<br />16. Borrower's Copy. Borrower shall fie furni,hed a cnnformcd �ppy of the Note and of ihis Deed of Trust at the time
<br />of execution or after recordation hereof.
<br />17. Transfer of the Property; Assumption, If all ar am part of the Proper'} or in interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent, e,cludole i, i i the creation of alien or encumbrance subordinate to
<br />this Deed of Trust, Ib) the creation of a purchase rnorim �Ccrinl% rnteresr for household apohances, ic) a transfer by devise.
<br />descent or by operation of law upon the death of a joint tenani or W Psi so
<br />limmisi Lender clay, it Lender', opu„i•, declare .,It the suns secured h} this Deed of Trust to to
<br />immediately due and payable. Lender shall hone waived such option h, accc!er;te if. prior to the sale or transfer. Lender
<br />and the person to whom the Property is to be sold or transferred !each agreement in writing that the credit of such peron
<br />is satisfactory to lender and that the interest payable on the %u ill• %c':mcd I,% !his Deed of trust ,hall be at %Asti rate as
<br />Lender shall request. If Leader has waived the option to accelerate pro ,-ided in this paragraph 17, and if Boirowci s Successor
<br />in interest has executed a w'rulen assumption agreement accepted !n ,wiring )•y Lende:. I ender shall rcicasc Borrower front
<br />all obligations under this Deed of Trust and the Note.
<br />if Lender exercises such option to accelerate, Lender %hail mad liormwcr r,ol.ce of acceleration m accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than Ui days Iron the date the noucc is mailed within
<br />which Borrower may pay the sums declared due. It Borrower fa ;ls,.en pay such sums prior ro the c%pirition of such period.
<br />Lender may, without further notice or demand on Borrower, invoke any remedies permuted hy paragraph !8 hereof.
<br />NoN•UNIFOfthi COVENANis. Borrower and Lender further covenant and agree a% follows.
<br />19. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant err
<br />agreement of Borrower in Ibis Deed of Trust, including the covenants to pay when due any sums secured by this heed
<br />of Trust, Lender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (11 the
<br />breach; (2) the action required to cure such breach; (3) a date, not less than 34) day% from the date the notice Ls mailed to
<br />Borrower, by which such breach must be cured; and (4) that failure to cure such breach on or before the date specified
<br />in the notice may result in acceleration of the sums secured by this Deed of Trust and sale of the Property. The notice
<br />shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert
<br />the iron- ex6tence of a default or any other defense of Borrower ui acceleration and sale. If the breach is net cured
<br />on or before The dale specified in the notice, Lender at Lender's option may declare all of the suits secured by this Deed
<br />of Trust to be immediately due and payable without further demand and may invoke :he power of sale and an) other remedies
<br />permitted by applicable law. Lender shall be entitled to collect all reasonable costs and exF «uses incurred in pursuing the
<br />remedies provided in this paragraph Ill, including, but not limitcri to, reasonable aUunr,•', fees.
<br />if the power of sale is invoked. Trustee shall record a notice of default in each counts in which the Property or some
<br />part thereof is located and shall mail copies of such notice in life manner prescribed by applicable law to Borrower and to the
<br />other persons prescribed by applicable law. After the lapse of =.rich time as may be required by applicable law, 'Trustee shall
<br />Rite public notice of sale to the persons and in the manner prescribed by w
<br />applicable la. Trustee, without demand on
<br />Borrower, shall sell the Property at public auclion to the highest bidder at the time and place and under the terms designated
<br />In the notice of sale in one or more parcels and in such order as Tru%tee may determine. Trustee may postpone sale of all
<br />or any parcel of The Properly by public announcement at the time and place of any previously scheduled safe. Lender or
<br />[sender'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
<br />sold. The recitalist in the Trustees deed i shall be prima facie evidencr of the truth of the statements mrde therein. Trustee
<br />shop apply the prof--& of the sale in she folio irYY order: ((a) to all reasonable cods and expenses of the sale, including, but
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<br />not pinked to, Trusser s fees or no( more than 1 Of 1 °r of the gross sale price. reasonable altorne)'s fees and costs of
<br />title evillence; (b) to all sums secured by this Deed of Trio; and tc) the excess, if any, w the person or persons legally entitled
<br />thereN.
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<br />19. Borrower's Right to Reinstate. Notwithsianding Linder'; acceicration •I the ,uris secured by IN, Dicd of Trthl,
<br />Borrower shall have. the right Io t ave any begun by tender ir• cif r.c hie,) f '1
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<br />procceclings •hh rtM .his i n.nI at
<br />any tune prior to the earlier to occur .d rut the fifth Alas hefore the ,ire of the Pro I ell1 I urxi rnl l„ rh, 1 wri it Ie onlam"l
<br />in this Deed of -Trust or NO entry of a tudgnient enfc rc inK thh Deed d of Trust it is B r r r..rr iv, I c - i r dI Burn ,b,ch s.,,oitl
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<br />tie then due under th,s teed t. Trust the Dote and note; w t r ng Fi ti w 1Js u t r;dler 1!r n ncii,rrecf
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<br />tit+) Borr „suer ctirr% ail h:Ca01VN of any ,aher co Cvdnis or .u,nerra.,n ,d liri;n.,, r- ne•.; m th„ i,erd n( Tr,ni.
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