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103578
<br />to t'awiewaalioit, l'he proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />condetnnatiort or wbertakIng of the Property, or part thereof, OF for conveyance in lieu of condemnation, are hereby assigneit
<br />and n6rsii be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Deed of Trust,
<br />with She excess, if any, paid to Borrower. in the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, then shall be applied to the sums secured by this Deed of Trust such proportion of the proceeds
<br />as IS Ito that proportion which the amount of the sums secured by this Deed of Trust immediately prior to the date of
<br />takioars 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 is claim for damages,• Borrower fails to respond to Lender within 30 days after 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 Teed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />or pattpone the due date of the monthly installments referred to in paragraphs i and 2 hereof or change the amount of
<br />such installments.
<br />W. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner,
<br />-the liability of the original Borrower and Borrower's successors in interest. Lender shall not he required to commence
<br />proceedings against such successor or refuse 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 />11. Forbearance by Lender Not a'VVativer, Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not be 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 Deed of Trust.
<br />12. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct and cumulative to any other right
<br />or remedy under this Deed of Toast or afforded by law or equity, and may he exercised concurrently, independently or
<br />successive)y.
<br />13. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lcnder and Borrower,
<br />subject to the provisions of paragraph 17 hereof All covenants and agreements of Borrower shall he joint and several.
<br />The captions and headings of the paragraphs of this Deed 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 tinderapplicable 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 be 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 as provided herein. Any notice provided for in this
<br />Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />IS. Uniform Deed of Trust; Governing Law; Severabilfty. This form of deed of trust combines uniform covenants for
<br />national use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument
<br />covering real property. This Deed of Trust shall he governed by the law of the jurisdiction in which the Property 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 given effect without the conflicting provision.
<br />and to this end the provisions of the Deed of Trust and the Note are declared to he severable.
<br />16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Deed cif Trust at the time
<br />of execution or 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
<br />by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to
<br />(his Deed of Trust, (b) the creation of a purchase money security interest for household ap lances, tc) a transfer by devise,
<br />Lor_ by operation of law upon the death of a joint [chant or lis
<br />Lender may, :d Lender's option, declare all the sums secured by this Deed of Trust to he
<br />immediately tie and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br />and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable nn the sums secured by Ihis Decd of 'Crust shall be at such rate as
<br />Lcnder shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor
<br />in interest has executed a written assumption ugreemcnu accepted in wrung by Lender. Lender shall release Borrower from
<br />all obligations under this Dced of Trust and the Notc.
<br />If Lender use d
<br />such option to accelerate, Lcnder shall mail Horrnwer ntx+ce of accclerumn in accordance with
<br />pare rape 14 hereof. Such notice shall provide a pcnod of not I is' than if) days from the date the notice is mailed within
<br />whic� Borrower may pay the sums declared due, if Borrower fails tit pup such sums prior to the expiration of such period.
<br />Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 19 hereof.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />1g. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower in this Deed of Trust, including the cosenants to pay when due any sums secured by This Deed
<br />of Trust, Lender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the
<br />breach; (2) the action required to cure such breach; (3) a date, nut less than 30 days from the date the nolice is mailed to
<br />Borrower, by whkh such breach must be cured; and (4) that failure to cure such breach on or before the dale specified
<br />in the notice may result in acceleration of the sums secured by this Decd of Trust and sale of the Properly. 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 />ike roe- exlslence of a default or any other defense of Borrower to acceleration and sale. If the breach is not cured
<br />on or before the date specified in the notice, Lender at Lender's option may declare all of the sums secured by this Deed
<br />of Trust to be immediately due and payable without farther demand and may invoke the power of sale and any other remedies
<br />petarkled by tsppllcabk law. Lender shall be entitled to collect a!1 reasonable casts and expenses incurred In pursuing the
<br />remedies proridtd is his paragraph 18, including, but not limned to, reasonable attorney's fees.
<br />If lice power of sank is invoked, Trustee shall "curd a notice of default in each county in which true Property or some
<br />part thereof is kreated sad shslf mail copies of such rwtice in the manner prescribed by applicable law to Borrower and to the
<br />taker persons prescdbed by applicable taw. After the lapse of such time as may he required by applicable law, Trustee shall
<br />Rfee prlsYe nolice of sale to Ike persons and in the manner prescribed by applicable law, "Trustee, without demand on
<br />Borrower, skiff sell she Property a1 purc auelion to the tolls hest bidder al Ihe'I,pp and place and under the tern's designated
<br />on
<br />kr flee sake of Bak In one or more parceis and in such order as Trustee may determine. Trustee may postpone sale of all
<br />or parcel of lice Property by public announcement al the time and place of any preciously scheduled sale, fender or
<br />Lea-y- ess 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 />soli. Tice recitals In The Trustee's deed shall be prima facie evidence of the truth of the so in Is made therein, Trustee
<br />sMaB M[stY pprroocceeds of the sank is the folio wIns order: {a) to all reasonable costs and expenses of The sale, including, but
<br />sat kndted N, Tr1Wee s fees of not more than V1 Oi i % of the gross sale price, reasonable attorney's fees and costs of
<br />We eviiaree; (b) o all anma secured by this Deed of Trust; and (c) the excess, if any, to the permn or persons legally entitled
<br />tiara".
<br />19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Deed of Trust.
<br />Borrower shall have the right to have any proceedings begun by Lender to enforce this Deed of Tntst disconnntred It
<br />any time prior to the earlier tI occur of (it the fifth day before the sale of the property pursuant to the power of sale contained
<br />in this Deed of Trust or (ii) entry of a judgment enforcing this Deed of Trust if* (a) Borrower pays Lcnder all sums which a "old
<br />be then due under this teed of Trust, the Note and notes wi.tirmil Future Advances, if any, had no accelcranon tucun-rd;
<br />M Borrower cures all breaches of any other covenants It agreements n( Bonover :ontained to this IVed of Trust,
<br />(e) Borrower pays all reasonable espenses Incurred by Lcnder and 'l rustee in enforcing [he covenants :md ;+gr cements nl
<br />Borrower contained in this feed kit Trust and in enforcing I antler's and "I n,srec's remedies as pro -1cd ur p.uagiapb t v
<br />hereof, including. but not {imued to. reasonable attorney'% fees. :Ind td) Btnrower t.rkcs tech seiner as I t ndcr mat rcas.,n.ihit
<br />rcquirc to assure that the lien of this feed of Tretsl, l.cnder's interest in the Pruperty -rid it....... r .•hlissr+„n r ),at
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