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<br />,y, thin: Deed of Trust immediately pro tr,' ins date of laF rag iilw; ; .;e fair r.arkct value of the Property immediately prior to the dare of
<br />taking, with the ba{anct of the proceeds paid use Borrower,.
<br />If the Property is abandoned by Borrower, or if, after notice n" 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 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 />;nirrower's successors in interest. Lender shalt not he required to commence proceedings against such successor or refuse to extend time for
<br />palinumt or o:lterwise modify amortization of the sums secured by this Deed of Trust by reason of any demand trade by the original Borrower
<br />and Borrower's successors in interest.
<br />11. Forbearance by Leader Not a Waiver. Any forbearance by Lender in esercrsing any right or remedy hereunder, or otherwise afforded
<br />by applicable law, shall not be a waiver of or preclude the exercise of any Stich - ;iziv c,r 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 io accelerate the maturity of the indebtedness secured by this
<br />Deed of Trust.
<br />I2. Remadin Cumulative. Ail remedies provided in this Deed of Trust are distinct and eamtrlative to any ether right or remedy under this
<br />Deed of Trust or afforded bylaw or equity, and may be exercised concurrently, independentiy or successively.
<br />13. Successors and Assigns Bound; Joint and Several liability; Captions. The covenants and agreements herein contained shall bind, and
<br />*.he 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 convenfenee only and are nut to br rued to interpr et ar define the provi„ons hereof
<br />14. Notice. Except for any notice, equlred tinder applicable taw to he gr. en in another manner, (a) any notice to Borrower provided for in
<br />his Deed of Trust shall be, given by mailing such notice by cenified mail addressed tr. Borrower at the Property Address or at such other address
<br />aS Borrower may designate by notice to Lender as provided herein, and (l:) any notice to Lende: shall be given by certified mail, return receipt
<br />�cquested, to Lender's address stated nerein o. to such other address as Lender may designate by notice to Borrower as provided herein. Any
<br />ia,tjce provided for in this Deed of`rrust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Uniform Dead of Trust; Governing Law; Seversbility. This form of deed of trust combines uniform covenants for national use and
<br />atoll- uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. This Deed of
<br />I rust shall 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 />, rust or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Deed of Trust or the Note which can be
<br />vi-en effect without the conflicting provision, and to this 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 rif the Note and of this Deed of Trust at the time of execution or
<br />:aftea recordation hereof.
<br />17. Transfer of the Property; Assumption. If all or any pan of the Property or an interest therein is sold or transferred by Borrower
<br />.,•ithout Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this Decd of Trust, (b) the creation of
<br />L gwtchase money security interest for household appliances, (c) a transfer by devise, descent or by operation of law upon the death of a joint
<br />ens�� 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 he immediately due and payable. Lender shall have waived such option to accelerate if,
<br />^rior to the sale or transfer, Lender and the person to whom the Property is to be sole or transferred reach agreement in writing that the credit of
<br />,uch person is satisfactory to Lender and that the interest payable on rite sums secured by this Deed of Trust shall be 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 />,,,iitten assumption agreement accepted in wining 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 shalt mad Borrower notice of acceleration in accordance with paragraph 14 hereof.
<br />Such notice shall provide a periled of not Less that: 30 days from the date the notice e; mailed within which Borrower may pay the sums declared
<br />die- If Borrower fails to pay such sums prior to the expiration of such period', I_endei may, without further notice or demand on Borrower,
<br />it,voke any remedies permitted by paragraph l P hereof.
<br />NON- UNIFORM COVENANTS. Borrower and t ender further covenant and agice as follows:
<br />18. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of
<br />d,)rtower in this Deed of Trust, including the covenants to pay when due any sums seettt•et1 by this Deed of Trutt, Lender prior to acceleration
<br />,ball 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 />,sir, not less than 30 days from the dale of notice is mailed to Borrower, by which such breach must be cured; and 44) that failure to cure such
<br />hseach on or before the date specified in the notice may result in acceleration of the sums secured by this Deed of Trust and sale of the Property.
<br />Fhe notice shall further inform Borrower of the right to reinatste after acceleration and the right to bring a court action to assert the non -
<br />escistence 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. Leader at Leader's option may declare all 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 sale sad any other remedies permitted by applicable law. Leader shall be entitled to collect oil reasonable
<br />„ifs and expenses Incurred in pursuing the remedies provided in this paragraph 18. Including, but not limited to, reasonable attorney's fees.
<br />If the twwtr 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 to Borrower and to the other persons prescribed by applicable
<br />taw. After the lapse of such time as may be requited by applicable law, Trustee shall give public notice of sale to the penons and in the manner
<br />pre, abed by appikabk 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 Trustee may determine. 1 rusiee may
<br />iroslpoae sink of all or any pared of the Property by public announcement at the time and place of any previously wheduled sale. Lender or
<br />1 cadet's designee may purchase the Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the pure haser Trustee's deed conveying the Property sold. The recital, in
<br />Ilse Irwlee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceed% of the sale in the
<br />following order: (a) to all reasonable costs and expenses of the sale, including. but not blotted it), i rustee's fees of not more than
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<br />art the gross uk price, reasonable stlorney's fees and costs of title evidence: rho to all sumo secured by this Deed of I rust; and (c) the e%vt s, it
<br />any, to the person or persons legally entitled therein.
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