|
86 -t ,104829
<br />by this freed of Trust immediately prior to the date of taking hears to the fair market value of the Property immediately prior to the date of
<br />taking, with the balance of the proceeds 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 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 />timers 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 I and Z 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 Tram
<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 />Borrower's successors in interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Decd of Trust by reason of any demand made by the original Borrower
<br />and Borrower's successors in interest.
<br />11. Forbearance by Leader Note Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded
<br />try applicable law, shall not be a waiver of or prectude the exercise of any such right or remedy. The prmuremem of insurance or the payment of
<br />taxes or other liens or charges by fender shall not be a waives of Lender's right to accelerate the maturity of the indebtedness secured by this
<br />Ike! of Trust.
<br />I 12. Renedin CamNadve. Ail remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this
<br />Deed of Trust or afforded bylaw or equity, and maybe exercised concurrently, independently rat successively.
<br />13. Successors and AstsFgns Bound: Joint and Severe] Liability: Captions, The ; cienants and agreements herein contained shall bind, and
<br />the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17
<br />bereof. All covenants and agreements -,f Borrower shall be ;oant and several. The captions and headings of the paragraphs of this Deed of Trusa
<br />are for convenuncc only and are not to he used to interpret or define the pi wisiors hereof
<br />14, Nodoe, Except for any notice required under applicable law- n- be given m another manner, ter) any noricx to Borrower provided for in
<br />this teed of Trust shalt. be given by mailing such notice by certified :nail addressed to Borrower ai the Property Address or at such other address
<br />as Borrower may designate by notice to I ender as provided `eresr._ and ih! any notice .o Lender shalt be given by xytified mail, return receipt
<br />trquested, to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any
<br />notice provided for in this Deed of Trust shall he deemed to have been given to Bo, hover or Lender when given in the mariner designated herein.
<br />15. Lafform Deed of I met: Governing Law; Severabilffy. fins form of dad of trust combines uniform covenants for national use and
<br />nonuniform covenants with limited variations by jurisdiction to constitute a uniform, security instrument covering real property. This Deaf of
<br />Trust shall be governed by the law of the )urisd:ction in which ±tie Property is located. in the event that any provision or clause of this Deed of
<br />Trust or the Note conflicts with applicable Sao. retch conflict shall not affect other provisions of this Deed of Trust or the Note which can be
<br />given effect without the conflicting provision, and :n this end the provisions of the Deed of Trust and the Note are declared to tx severable.
<br />16. Borrower's Copy. Borrower shad be furnished a conformed copy of the Note and of this Deed of Trust at the time of execution or
<br />after recordation hereof.
<br />17. Transfer of the Property; Asawmptioe. if all or any part or the Property or an interest therein is sold or transferred by Borrower
<br />without Lender's prior written, consent, cncluding fa) the creation of it lien or encumbrance subordinate to this Deed of Trust, Ili) the creation of
<br />a purchase money security interest for houschold appltanot,&. (c) a transfer by devise. descent or by operation of law upon the death of a joint
<br />_ tenant or (d) the grant o1' any leasehold interest iyf three years or ices not containing an option to purchase. Lender may, at Lender's option,
<br />declare all the sums secured by this Deed of Trust to be immediately due and payable. lender shall have waived such option to accelerate if,
<br />prior to the We or transfer. Lender and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of
<br />such person is satisfactory to Lender and that the ;merest payabie on the sums secured by this Deed of Trust shalt be at such rate as Lender shall
<br />request. If Leader has waived the spoor, to acvLgc -ate provided in this paragraph 17, and if Borrower's successor in interest has executed a
<br />written assumption agreement acscpted in writing by i.atdet. Lender shall Meese Borrower from ail obligations under this Deed of Trust and
<br />the Nzte
<br />If fender exerciws such option ac eierate, 1 ender :hail mats Borrower notice of acceleration in accordance with paragraph ld hereof.
<br />_ Such notice shalt provide a pr. i<%d .;t not leaf cYa,; ?o lays trom !ht date the nm;cc ;s trtaiicsf within which Borrower may pay the sums declared
<br />due. If BdrrLAct tails to pay such sums price the ;.xpiratior, of such period, Lender may, without further notice or demaiad oat Borrows:,
<br />invoke any ccmtdie, permitted by paragraph 18 hereof
<br />NON- i'VllOKM COVES.ANT5 Borrower anti I en-Irr further a:veram and agree as follows.
<br />18. Acceleration; Remedies. Except as provided In paragraph 17 bereoL span Borrower's breach of any covenant or agreement of
<br />Borrower In this Deed of Trust, lodudfag the covenants to Puy when due any wets secured by this feed of Trost. leader prior to accede3ation
<br />shall mad notice to Borrower as provided in paraylnpb 14 hereof specifying: (It the breach; i2) the action required to cure such breach; (3) a
<br />ante, not leas than 30 days from the date of motive is mailed to Borrower, by which such breach must be cared; and 44) that inflate to cure such
<br />breach oa or before the date specified in the outlet may resun in acceleration of the sums secured by this Deed of Trust and sale of the Property.
<br />The notice sleall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the Lion-
<br />. etbtesce of a default or an) other defense of Borrower to acceleration and sate. If the breach is not cured can or before the date spetifkd in the -
<br />aOUM I:ader at Leader's option may decdur all of the sums secured by this Deed of Trust to be lmmvdiststy doe mad payable without further
<br />demand cad may invoke the power of ask and any other remedks permaned by applicable law. Lander shall be entitled to collect a@ reasonable
<br />rosy and expenses incurred is pursuing the remrdiex prvvidrd in thh parasnpli IS. including, but not limited to. reasonable attorney's leer_
<br />If the power of sale ter ravnked. Truster shag record a motice of default to each county in which the Prupert) or some tart tbanof is located
<br />and shall mad copies of such [alike to rise meaner prescrlbesd by applicants taw to Borrower and to the other persons prescribed by applkwbk
<br />law. Aker the lapse of sarh time as me? be required by applicable law. Truster *bail give public notice of sale to the pemotts mad to the matters
<br />Proscribe by aypphsable lure. IV wi t. olihow t a on f r9 i. , " the TiYperty ai pubfir auction to the i ilithe i biddc F: trice door
<br />and place sad under the terms desagu ous! in the notice of sak In one ore more parcels sad In web order as I rustler me) determine. Trustee me)
<br />postpone ask of all or any parcel of the Property by public asmyuacvmeat at the time mad Vince of say previously scheduled ask. leader or
<br />Iewier't tksgau may purchase the Property of any ale.
<br />L. Vas rvedpt of pay sees of the price bid, Trustee aha0 deliver to the purchaser Trustee's dyed conveying the Property sold. 7 be recftafs in
<br />the Trusuv's deed shall be One iu# evidence of the truth of site statements mode therein. Trustee shall apptr the proceeds of the ssk to tic
<br />foilowisg order: ts) to sit rvasoaabk costs and etpetrars of The ask, including, but suit limited to, 'trusset's fees of not more than
<br />of the grout saw price, reasonable snorters'% fen and costs of utk evidescr, ib) to all sums secured b) this D"d of trust, sad to i the excess.. It
<br />ray, to the Venom or perwraai wgalt) entitled thereto.
<br />14 ifmrnwre's Ilught w krinaiars 1 Court eri it ,n n{ .7u: %u • rn,u cif r' -v tti =. ! see f ;" ' fc- - `:rte riAaa
<br />r a'„ is l . s:,. ; <- ?vivre es.i� , . :,te' ,)) -.±r.c • fit . tract _�f 1 -t „s I,,.,n- r ..peel as
<br />.rr . h; Y,r,r..• ,,,.Vi...rhr t+,.we *..i:AI ?._.ma,. act ?ores iyrral_
<br />.r
<br />
|