|
86-- 105644
<br />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 ft 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 seared by this Deed of Trust.
<br />Unko Leader and Borrower otherwise agree in writing, any such application of proceeds to principal "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 hisuilrnenu.
<br />it Do east Not Mislead. Extension of the time for payment or modification of amortization of the sum secured by this Deed of Trust
<br />panted by I ersder to any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower .nd
<br />Borrower's successors in interest. Lender shall not be required to commence proceedings against such sucodsor or refute to extend time for
<br />payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any denumd made by the original Borrower
<br />and Borrower's successors in interest.
<br />111. Foriaasasre b Iwsdw Not a Wain. 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 lies or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this
<br />Deed of Trust.
<br />12. Rose" Cwdathe. 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. Sueesarars all Assigns Beall; Jolty and Several Liabllky; 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 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. Nader. 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 trailing such notice by certified mail addressed to Borrower at the Property Address or at such other address
<br />as Borrower may dengoate by notice to Lender as provided herein, and (b) any notice to 1 ender shall be given by certified mail, return receipt
<br />requested, 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 be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />IS, U it, Dad of Trent; Goveralag Law; SnaabBity. This form of deed of trust combines uniform covenants for national use and
<br />ron- 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 feed of
<br />Trust or the Nate 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 />16. lotrowtr's Cop. Borrower shall be furnished a conformed copy of the Note and of this Deed of Test at the time of execution or
<br />after recordation hereof.
<br />17. Trsrder of the Property; Aswesploa. If all or any part of the Property or an interest therein is sold or transferred by Borrower
<br />without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this feed 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 joint
<br />tenant or (d) the grant of any leasehold interest of three year 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 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 ranch 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 use 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 />written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligations under this Dad of Trust and
<br />the Note.
<br />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 from 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 />18. Aecelaatloa; Reo dli s. Except as provided In paragrapk 17 bereof, epos Borrower's btaeh of any covenant or agreement of
<br />No come In this Deed of Trost, lac diag the covenab to pay woes due any sear seared by this Dad of Tract, Lanier pkW to acceleration
<br />dM nil Notice to Borrows as provided in psragrapi 14 hereof spedtyisg: (1) the breach; (2) the wow rsgaMd N care such bresci; (3) a
<br />date, ad lens than 30 days iron the date of notice is sttded to Borrower. by wbki weir I want be curd; and (4) gist folMte to cure such
<br />breseh on or before the date spedlfed is the Notice ray and In accelerades of the nos secured by this Deed of Trust and sale of the Property.
<br />The nslke sbal its do Worm Borrower of the right to raiswfe after scederades and the right to bring a coat wdm to somt the aoN-
<br />edidmee of a I 1 1- or say other defense of No *win to aaderation end oak. If the breach is act cured on or before the date specified is the
<br />Notice, Leader at larder's option way declare ON of the sass seared by this Heed of Treat to be 1rodWdy, ruse ad payable without further
<br />de used and may invoke the power of ssk ash sty other resedls pertained by applicable low. Leader W" be Nodded to collect NO rensomble
<br />caws end expenses Incurred In parsed" the reuse .. provided In this psragrsph is, Iaddhg, but sot Ysited to. reseorble atiorsey's left.
<br />It fie power of wk is lavoked, Trustee shat record a notice of default is each county IN wbkb the Property or some pat thereof is located
<br />and shat wall copies of weh notice In the sauces pr— Mi -d by appaceW law to Borrower and to the other pttwss prseribed by applicable
<br />few. After the Input of such time as say be required by applicable law, Treater shall give poW notice of ask to the persons and Is the sanser
<br />pnrstr" by appieaMe law. Trashes, without dsasai on Burrows, shat sell the Property at public suction to the higYst bidder at the time
<br />and pkre and under the Krsr designated in the satire of sale is one or sore parcels and In such order ss Trustee say delersyse. Trust" orsy
<br />poslpsim sate of all or my parcel of the P..paty by public wwuncesent at the time and place of my prevkm* scheduled oak. Leader or
<br />Lender's dselgnut my p ' the Property at say ask.
<br />Upon recs'list payment of the prim bid. Trustee shall deliver to The purchaser Trusser's deed conveying the Property sold. The recitals, in
<br />the Tr"w's deed d" be prim fork evidence of Her truth of The statements made therein. Treater shag apply the proceeds of the #ate to the
<br />tooew ft wdw (s) sa M rtes Me .roots and expenses of the sale, lacladlag, but sot llsdtd to, Trsesee's fees of aw sore tins
<br />of the gnus oak price, reasonable ntiormy's tees and costs of title evidence; (b) to all suss secured by IW Deed of Trust; sd tc) The etcrts. if
<br />any, to tie person or persons legally *added !hereto.
<br />N. woROwer's tltight to Reladme. Notwittistandtai Lender'% acceleration ..a the sums secured by this Deed of Trust, Nara ewer shatI h.,.,,
<br />the right to have any proceedings begun by Lender to enforce this Deed f+f Ttus: di,.onunued at any torte prior io the rather :c. ,,,s, - !
<br />fifth day before the sate of the Property pursuant to the power of sale coimuned :n thts Deed of I ntst oar wl entty of a judgtncnt cnlo, }
<br />Deed of Trust it la) Borrower pays Letx;er all sums which would t+e tier duc undet this Deed rte I -tuat. !lee 4ntc an.i n<,:c: <e ....p '
<br />
|