|
104089
<br />86-
<br />0--iiI0. Condemnalon. The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />in lieu of condemnation, are hereby assigned
<br />condemnation or other taking of the Property, or part thereof, or for conveyance
<br />- and shall be paid to Lender.
<br />in the event of a total taking of the Properly, the proceeds shall he applied to the sums secured by this Decd of Trust,
<br />Borrower and Lcndcr
<br />with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless
<br />otherwise agree in writing, there shall be applied to the sums secured by this Deed of Trust such proportion of the proceeds
<br />Trust immediately prior to the date of
<br />us is equal to that proportion which the amount of the sums secured by this Deed of
<br />taking bears 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 />30 days after the date such notice is
<br />an award or settle a claim for damages, Borrower fails to respond to Lender within
<br />and apply the proceeds, at Lender's option. either to restoration or repair of the
<br />mailed, Lender is authorized to collect
<br />Property or to the sums secured by this feed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend
<br />2 hereof or change the amount of
<br />or postpone the due date of the monthly installments referred to in paragraphs I and
<br />such installments.
<br />Ia. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />in interest of Borrower shall not operate to release, in any manner,
<br />by this Deed of Trust granted by Lender to any successor
<br />the liability of the original Borrower and Borrower's successors in interest. [_ender shall not he required to commence
<br />time for or otherwise modify amortization of the sums
<br />proceedings against such successor or refuse to extend payment
<br />secured by this Dad of Trust by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />right or remedy hereunder, or
<br />11. Forbearance by lender Not a Waiver. Any forbearance by Lender in exercising any
<br />law, not he a waiver of or preclude the exercise of any such right or remedy.
<br />otherwise afforded by applicable shall
<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 />be concurrently, independently or
<br />or remedy under this Deed of Trust or afforded by law or equity, and may exercised
<br />successively.
<br />13. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein
<br />and assigns of Lender and Borrower,
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall he joint and several.
<br />only and are not to be used to
<br />The captions and headings of the paragraphs of this Deed of Trust are for convenience
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice required tinder applicable law to be given in another manner, (a) any notice to
<br />Deed Trust shall be given by mailing such notice by certified mail addressed to Borrower at
<br />Borrower provided for in this of
<br />the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />to Lender's address stated herein or to
<br />(b) any notice to Lender shall be given by certified mail, return receipt requested,
<br />other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />in the manner designated herein.
<br />such
<br />Decd of Trust shall be deemed to have been given to Borrower or Lender when given
<br />Trasl; Governing Law; Severability. This form of deed of trust combines uniform covenants for
<br />Deed instrument
<br />is. Uniform of
<br />national use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security
<br />Trust he by the law of the jurisdiction in which the Property is located.
<br />covering real property. This Deed of shall governed
<br />clause of this Deed of Trust or the Note conflicts with applicable law, such conflict shall
<br />In the event that any provision or
<br />not affect other previsions of this Deed of Trust or the Note which can be given effect without the conflicting provision.
<br />of the Deed cf Trust and the Note me declared to he severable.
<br />Tout the time
<br />and to this end the provisions at
<br />16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Deed of
<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 />excluding (a) the creation of a lien or encumbrance subordinate to
<br />by Borrower without Lender's prior written consent,
<br />this Deed of Trust, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise.
<br />descent or by operation of law upon the death of a joint tenant or
<br />lender may, at Lender's option, declare all the sums secured b}' this Decd of Trust to he
<br />the sale or transfer, Lender
<br />immediately due and payable. Lender Shull have waived such option to accelerate if, prior to
<br />he or transferred reach agreement in writing that the credit of such person
<br />and the person to whom the Property is to sold
<br />is satisfactory to Lender and that the interest payable on the sums secured by this Deed of "crust shall he at such rate as
<br />the option to accelerate provided in this paragraph 17, and if Borrower's successor
<br />Lender shall request. if Lender has waived
<br />in interest has executed a written assumption agreement accepted in writing by (.ender, Lender shall release Borrower from
<br />all obligations under this Deed of Trust and the Note.
<br />to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />If Lender exercises such option
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
<br />fails to such Sono prior to the expiration of such period.
<br />which Borrower may pay the sums declared due. If Borrower pay
<br />Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />Except as in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />18. Acceleration; Remedies. provided
<br />agreement of Borrower in this Deed of Trust, including the covenants to pay when due any suns secured by this Deed
<br />in paragraph 14 hereof specifying: (1) the
<br />of Trust, Lender prior to acceleration shall mail notice to Borrower as provided
<br />breach; (3) a date, not less than 30 days front the date the notice is mailed to
<br />breach; (2) the action required to cure such
<br />Borrower, by which such breach roust be cured; and (4) that failure to cure such breach on or before the date specified
<br />of the sums secured by this Deed of Trust and sale of the Property. The notice
<br />in the notice may result in acceleration
<br />shag further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert
<br />Borrower to acceleration and sale. if the breach is not cured
<br />the ,ton- existence of a default or any other defense of
<br />on or before the dale specified in the notice, Lender at Lender's option unay' declare all of line sums secured by this Deed
<br />further demand and nney invoke the power of sale and any other remedies
<br />of Trust to be immediately duc and payable without
<br />by applicable law. Lender shall be entitled to collect all reasonable costs and expenses incurred in pursuing the
<br />fees.
<br />permitted
<br />remedies provided in this paragraph 18, including, but not limited to, reasonable attorney's
<br />sale is invoked, Trustee shall record a notice of default in each county in which the Properly or some
<br />Borrower and to the
<br />If the power of
<br />part thereof is located and shall mail copies of such notice in the manner prescribed by applicable law to
<br />After tine lapse of such tithe as may be required by applicable law, Trustee shall
<br />other persons prescribed by applicable law.
<br />public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on
<br />and under the terms designated
<br />give
<br />Borrower, shall sell the Property at public auction to the highest bidder at the time and place
<br />of sale in one or more parcels and in such order as Trustee may determine. Trustee may postpone sale of all
<br />sale. Lender or
<br />in the notice
<br />or any parcel of the Property by public announcement at the time and place of any previously scheduled
<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 Properly
<br />the statements made therein. Truslec
<br />sold. The recitals in the Trustee's deed shalt be prima facie evidence of the truth of
<br />SW apply the proceeds of the sale in the foliowI order: (a) to all reasonable costs and expenses ti the sale, including, but
<br />i/ of 1 :o of the gross sale price, reasonable attorney's tees and costs of
<br />not limited to, Trustee's fees of oat more than
<br />title evidence; (b) to all sums secured by this Deed of Trust; and (c) the excess, if any, to file person or persons legally entitled
<br />therNo.
<br />19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums Secured by this Deed a rust.
<br />have the right to have any proceedings begun by Lender to enforce this Decd of T'nut du nunued at
<br />t
<br />Borrower shall
<br />any time prior to the earlier to occur of (i) the fifth day before the sale of the Property pursuant to the poser of sale contained
<br />Trust or (it) entry of a judgment enforcing this Deed of Trust it: (it) Borrossei p +s s Lutes r ill sum s loch of rc d
<br />Deed n ' c. urrr.3
<br />?
<br />in this of
<br />he then due antler this teed of ('rust, file Note and notes securing Putur Adeane. �c 1-d n: te. etc De
<br />t •f ii err + rr mninu; t rh Deed t ln„t
<br />�
<br />(b) Harrower lures all hreaches of any .ether .oIenants of :greemel
<br />(e) Burroscr pays all a cntahic expense, neut:ed hs I endeI r d ho r, I r -1ng Inc v •t t ti I rrenul .. ..
<br />d Tr1 1t1�.i1
<br />_
<br />BntllS Sher '. ,)nt:llned Ott Ii,ls Drcd of t rtiel old In rnr Ie l:t +' 1 I r i •r i,(e
<br />hereof. inetudtng. but rx.t hrutvd h? rca, 14k arc t t N - to old ',h ( .I I'. �. .. .. -
<br />I,,, I t
<br />Icqulrc So "Mire that th lien of this Ih.,ct of 'Oh":"! • f, - `'c t' "
<br />t
<br />
|