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86- 104984
<br />by this Decd of Trust ;mmedialely pear ;e, the date of taking txwr � , the fair mar #et value of the Ptoperty immediately prior to the dart 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 I !niter t^ 9erru cr that the cot.4 mnor offers to make a„ award or sc.
<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 weiring, any Such application of proceeds to principtal shall tor extend or postpone the due
<br />date of the monthly installments referred to in paragraphs I and 22 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 />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 Deed of Trust by reason of any demand made by the original Borrower
<br />and Borrower's successors in interest.
<br />11, Forbearance by Leader Not a waiver. Any- forbearance by Lender in exercising any right or remedy hereunder. or otherwise afforded
<br />by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of
<br />taxes or other liens or charges by Lender shall not be a waiver of Lenders right to accelerate the maturity of the indebtedness secured by this
<br />Deed of Trust.
<br />12. Remedies Cumulative. All 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 by law or equity, and may be exercised concurrently, independently or successively.
<br />13. 5accesors and Assigns Bound; Joint and Several Liability: Captions. The covenants and agreements herein contained shall bind, and
<br />the rights hereunder shall inure to, the espectrAc sucees_�ctrs 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 convenience only and are not to be used to interpret or define the provisions hereof.
<br />14, Notice. Except for any notice required under app)table law to begr.cn in another manner, (al any notice to Borrower provided for in
<br />this Deed of Trust shall' be giver by mailing such note v by crn fled mail addressed tc, Borrower at the Property Address or at such other address.
<br />as Borrower may designate by n ri" to Lender as provided herein, and 0) any notice to Lender shall he riven by oerrified mail, return retxapt
<br />requested, to Lender's address stated herein or ;o such other address as Lender may designate by notice to Borrower as provided herein- Any
<br />notice provided for in this Demd of Trust shall he deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />}' IS. Uniform Deed of Trust; Governing Law; Severabilhty, This Corm of ;seed of trust combines uniform covenants for national use and
<br />non- uniform covenants with lim reel variations by t isdi: ion tci ra LStitvte a uniform security instrument coveting real property- This Deed
<br />Trust 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 Dad of'
<br />Trust or the Note conflicts with applicable law, such canona shii[I nor affect other provisions of this Deed of Trust or the Note which can be
<br />given 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 of the Note and of this Deed of Trtst at the time of exeauion or
<br />after recordation hereof.
<br />17. Transfer of the Property-; Assumption. if ail or any pan of the Property or an interest therein is volt; or transferred by Borrower .
<br />without Lender's prior written consent, excluding (a) the creation of a her or encumbrance subordinate to this Deed of Trust. (b) the crearion of
<br />a purchase money security interest for household appliances, (c) a transfer by devise, descent or by operation of Saw upon the death of a #otttt
<br />tenant or (d) the grata of any Imasehold interest of three years or less not containing an option to purchase, Lender may, at Lender's septum,
<br />declare all the sums secured by this Deed of Trust to be immediately due afro payable. Lender shall have waived such option to accelerate if,
<br />prior to the sale or transfer, Lender and the person to whom the Property is to be said or transferred reach agreement in wrung that the credit of '
<br />such person is satisfactory to Lender and that the interest payable on the sums seared by this Deed of Trust shall be such rats 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 />written assumption agreement acc4,ted in writing by Lender, Lender shall release Borrower from Ali obligations under this Deed of Trost and
<br />the Nate.
<br />If Lender exercises such option to a e e *arc, i rder shall mail Borrower notice of acceleration in accordance with paragraph la htreot,
<br />Such notice shall provide a period of nor 'e< Pan : davv ;corn the date the notice is mailed within -hi.-I, Borrower may pay the sums declared
<br />due. If Borrower fails to pay such sums tu.ot thr expiration of such period. Lender may, without Wrlher notice or demand on Borrower,
<br />invoke any remedies permitted h} paragraph If hereof
<br />-. NON-UNIFORM COVENANTS. Borrower and Lender furirser co,criarn and agree a :, fo :)ows "
<br />It. Acceleration; Remedies. Except as provided in paragraph 17 hereof. upon Borrower's breach of say covemmat or agreement of
<br />Borrower is this Deed of Trust, including the covenants to pay when due any sums secured by this deed of Trust. Lender prior to aceeieradoa
<br />shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action required to cart such breech- (3) a
<br />date, not less than 30 days from the date of notice is mailed to Borrower, by which such breach must be cured; sad (4) that faire to cure such
<br />breach on or before the date specified in the notice may result in acceleration of the sums secured by this Deed of Trust mad sak of the Property,
<br />The notice shall further inform Borrower of the right to rehmstste after acceleration and the right to bring a court action to assert the Ron -
<br />existence of a default or any other defense of Borrower to acceleration and tale. If the breach is not cured on or before the date specified in the
<br />notate, tinder at Leader's option may declare all of the same secured by this Deed of Trust to be humedistely due and parable without further
<br />demand and may invoke the power of sale tad any other remedies permitted by applicable taw. Lender shall be entitled to collect ad reasonable
<br />costs mud expenses incurred in pursuing the remedies provided in fits paragraph 19. including, but not limited to, reasonable attorney's fees:
<br />If the Power 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 taw to Borrower and to the other persons prescribed by applicable
<br />Is"- After the lapse of such time as
<br />may be required by applicable law, Tretstee ahail give public aeries of sale to the person and in the manner
<br />prescribed by applicable Iaw. 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 mho or more parcels sad in such order as Trustee may determine. Trustee may
<br />Postpone sale of all or any Parcel of the Property by public announcement at the time and place of Buy previously scbednied sale. Leader nit
<br />Leader'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 said. The recitals in
<br />The Traslee's deed %bW be prima facie evidence of the truth or the statements made therein. Trustee shelf apply the proceeds of the sale in the
<br />�, following order: (a) to all reasonable costs and expenses of the sal, including, but not limited to, Trustee's fees of not more than ._ 3 a'.
<br />Of the grass ink prim, reasonable attorney's fees and costs of Otte evidence; fbi to all sums secured by this deed of Trust; and (c) the excess, if
<br />any, to the person or persons legally radtkd thereto.
<br />19. Borrower's Right to Reinstate, Not- ithstanding I enact'+ aveehuat.on of the surns sr, wed by this Derd rat T -tuk. it" „w c, 'ha'il have
<br />the right to have any procecc[engs hegun by Lender to enforce t)d. Recd of'Irust :hscuntinued err anv tifnc ru .k� ;'fir c , J!c . z -.,
<br />- fifth da} before the kale of the Ptrpeny put %Halal to the p',1Aer4,rt sale vonuirried to lhts Lk=ed of f
<br />µ t �, t t i tit tit•,
<br />the:; of I rase 0 (ii lioi ;awe! pa., i rndre rail ,nn,; whet, avuld 's•- ;.her; 'tic tindet rhl-, Iyeej ;',1 ;..._
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