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by this Deed of Trust immediately prior to the date of taking bears 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 />s 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 i 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 />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 he a waiver of Lender's 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. Successors 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 respective successors and assigns of Lender and Borrower, subject to the provisions of rearagraph 17
<br />hereof. Ail covenants and agreements of Borrower shalt be joint and seseral. 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. Nod". Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in
<br />this Deed of Trust shall be given by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address
<br />as Borrower may designate by notice to Lender as provided herein, and (b) any notice to i °nder shall be given by certified in", rewn receipt
<br />requested, to Lender's address stated herein or to such other address as (.ender may designate by notice to Borrower as provided herein. Any
<br />notice provided for in this Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Uniform Deed of Trust; Governing Law: Severability- This form of deed of trust combines uniform covenants for national use and
<br />non- uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. This Deed of
<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 Deed of
<br />Trust 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 />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 />its. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Deed of Trust at the time 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 transferral by Borrower
<br />without Lender's prior written consent, excluding (a) the creation of a lien or cuctimbrance subordinate to this Deed of Trust, (b) the creation of
<br />a purchase money security interest for household appliances, (c) a transfer by devise, descent or by operation of law upon the death of a j' cot
<br />tenant 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 th, 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 .sale 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 interest payable on the sums secured by this Deed of Trust shall be at such rate as Lendershall
<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 accepted in writing by Lender. 1 ender shall release Borrower from all obligations under this Deed of Trust and
<br />the Note. - If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof.
<br />Such notice shall provide a period of not less than 30 days `rum the date the notice is mailed within which Borrower may pay the sums declared
<br />due. If Borrower fails to pay such sums prior to the expiration of such period, lender may, without further notice or demand on Borrower,
<br />invoke any remedies permitted by paragraph 18 hereof. - -
<br />NON- UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: -
<br />lg. Acceleration; kemxdies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of
<br />Borrower in this Deed of Trust, including the covenants to pay when due any sums secured by this Deed of Trust, Lender prior to acceleration
<br />shall 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 />dale, not less than 30 days from the date of notice is mailed to Borrower, by which such breach must be cured; and (4) that failure to cure sscit
<br />breach on or before the dale spedtied in the notice may result in acceleration of the seems secured by this Deed of Trust and sale of the Property.
<br />The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court sedan to assert the non-
<br />existence 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 to the
<br />notice. Lender at Lender's option may declare all of the sums secured by this Deed of Frost to be immediately due and payable without further
<br />demand and may invoke the power of sale and any other remedies permitted by sgpticable law, lender shall be ratified to collect all reasonable
<br />costs and expenses incurred in pursuing the remedies provided in this paragraph 18. 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 />law. After the lapse of sueb time to may be required by applicable tow, Trustee shall give public notice of sale to the persons and in the manner
<br />prescribed by applicable taw. Trustee, without demand on Borrower, shall sail the Property at public auction to the highest bidder at the time
<br />and place and under the terms designated In the notice of sake in one or more parcels sad in such order as Trustee may determine. Trustee may
<br />postpone sale of ail at any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or
<br />[Lender's designer may purchase the Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shag deliver to the purchaser Trustee's deed conveying the Property sold. The recludsta
<br />the Trustee's deed sbali be prima facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the
<br />following order: (a) to sit reasonable casts and expenses of the Ask, including, but not limited to, Trustee's fees of not more than
<br />- of the pan sake price, reasonable attorney's fees and costs of title evidence; (b) to all cams secured by this heed of Taut; and (c) the extras, if
<br />any, to the per -tin or ptrsonf legally entitled thereto
<br />IV. fforrowrr's Right to krlruitate. Norwnh *txrt<ftns t. Mdef'- dtlrftra ter of t=+e a :, ,r•;urrJ h} -!I i tread t" 1ru,+ ' '-.,-ell 3:asc
<br />the nttht u' 11." tine , r.._eedwt, he}{e.r :• I .r,&e tti,� 11."f sal 1 1.:.",rt, - l,d at : n [learn p: i,s to •hr t
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