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86-° 10582L4
<br />9. Condemnation, The proceeds of any award or claim for damages, direct or consequential, in connection with any
<br />r condemnation or other taking otthe Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shalt be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by Mis Deed of Trust, with
<br />the excess. it any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and tender otherwise
<br />agree in writing, there shall be applied tothe sums secured by this Deed of Trust such proportion of the procssdR as is equal to
<br />that proportion which the amount of the sums secured by this Deed ofTrust immediately prior to the date of taking bearslo the
<br />fair market value of the property immediately prior to the date of taking, with the balance of the proceeds paid to Borrower.
<br />If the Property is abandoned by Borrower, or it, after notice by Lender to Borrower that the condemnor offers to make an
<br />award or settle a claim for damages, Borrower fails to respond to lender within 30 days after the date such notice is (nailed,
<br />Lender is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the Property or to
<br />the sums secured by this Deed of Tr,+st.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall notextend or
<br />postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such
<br />installments.
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured by this
<br />Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner. the
<br />liability of the original Borrower and Borrowers successors interest. Lender shall not be required to commence proceedings
<br />against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this
<br />Deed of Trust by reason of any demand made by the original Borrower and Borrower's successors in interest
<br />11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. The
<br />Procurement of insurance of the payment of taxes or other liens or charges by Lender shall not be a waiver of lender's rightto
<br />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 or
<br />remedy under this Deed of Trust or afforded by law or equity, and may be exercised concurrently, independently cr
<br />successively
<br />13. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herein
<br />contained shall bind. and the rights hereunder shall inure to. the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof Ali covenants and agreements of I Borrower shall be Joint and several. The
<br />captions and headings of the paragraphs of this Deed of Trust are for ccrven,en��e only and are not to be used to interpret or
<br />define the provisions hereof.
<br />14. Notice. Except for any notice required under applicable law to tie given in another manner, (a) any notice to Borrower
<br />provided for in this Deed of Trust shall be given by mailing such notice by certified mail addressed to Borrowerallthe Property
<br />Address or at such other address as Borrower may designate by notice to Lender as provided herein, and (b) any notice to
<br />lender shall be given by certified mad. return receipt requested. to Lender's address state�thi , ddrgss as
<br />Lender may designate by notice to Borrower as provided herein Any notice provided for Pn flit deemed
<br />to have been given to Borrower or Lender when given in the manner designated herein ,ry
<br />15. Uniform Deed of Trust; Governing Law; SeverabWty. The form of deed of tru --`�+ VE is for
<br />national use and non - uniform covenants with limited variations by jurisdiction to constitu a "94J[(jlOjtment
<br />covering rea l property This Deed of Trust shall be governed by the taw of the jurisdiction m which''{{�he ed. In
<br />the event that any provision or clause of this Deed of Trust or the Note conflicts with applicable law, such conflict shall not
<br />affect other provisions of this Deed of Trust or the Note which can be given effect without the conflicting provisions, and to this
<br />end the provisions of the Deed of Trust and the Note are declared to be severable.
<br />18. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Deed of Trust at the time of
<br />execution or after recordation hereof
<br />17. Transfer of the Property; Assumption. It all or any part of the property or interest therein is sold or transferred by
<br />Borrower without Lender's prior written consent, excluding (a) the creation of alien or encumbrance subordinate to this Deed
<br />of Trust. (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise descent or by
<br />operation of law upon thedeath of a joint tenant or (a) the grant of any leasehold interest of three years or less not containing an
<br />option to purchase. Lender may, at Lender's option, declare all the sums secured by this Deed of Trust to be immediately due
<br />and payable. Lender shall have waived such option to accelerate it. prior to the sale or transfer, Lender and the person to
<br />whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to
<br />Lender and that the interest payable on the sums secured by this Deed of Trust shall be at such rate as Lender shall request. If
<br />Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has
<br />executed a written assumption agreement accepted ,n wri!sng by Lender. L end -r shall •eiease Borrower from all obligations
<br />under this Deed of Trust and the Note.
<br />It Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with
<br />Paragraph 14 hereof Such notice shall provide a period of not less than 30 days from the date the notice is mailed within which
<br />Borrower may pay the sums declared due If Borrower fairs to pay such sums prior to the expiration of such period, Lender
<br />may, without further notice or demand on Borrower invoke any tem dies permitted by paragraph 18 hereof,
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />18. Acceleration; Remedies. Except as provided in paragraph '7 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower in this Deed of Trust including the covenants to Pay when due any sums secured by this Deed of Trust,
<br />Lender prior to acceleration shall malt notice to Borrower as provided in paragraph 14 hereof specifying. (1) the breach, (2) the
<br />action required to cure such breach; (3) a date, not less than 30 days from the date the notice is mailed to Borrower, by which
<br />such breach must be cured; and (4) that failure to cure such breach on or before the date specified in the notice may result in
<br />acceleration of the sums secured by this Deed of Trust and sale of the Property The notice shall further inform Borrower of the
<br />right to reinstate after acceleration and the right to bring a court action to assert the non - existence of a default or any other
<br />defenseof Borrower to acceleration and sale. lithe breach is not cured on or before the date specified in the notice. Lender at
<br />Lender's option may declare all of the sums secured by this Deed of Trust to be , mmediately due and payable without further
<br />demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to
<br />collect all reasonable costs and expenses incurred in pursuing the remedies provided in the paragraph 18, including, but not
<br />limited to, reasonable attorney's lees.
<br />if the power of sale is invoked, Trustee snail record a notice of default in each county in which the Property or some part
<br />thereof is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the other
<br />persons prescribed by applicable law. After the lapse of such time as may be required by applicable taw. Trustee shall give
<br />public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower,
<br />shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice
<br />of sale in one or more parcels and in such order as Trustee may determine Trustee may postpone sale of all or any parcel of
<br />the Property by public announcement at the time and place of any previously scheduled sale Lender or Lender's designee
<br />may purcnase the Property at any sate.
<br />Upon receipt of paymentof the price bid. Trustee shalt deliver to the purchaser Trustee's deed conveying the Property sold.
<br />The recitals in the Trustee's deed shelf be prima facie evidence of the truth of the statements made therein Trustee shall apply
<br />the proceeds of the sate in the following order. (a) to all reasonable costs and expenses of the sale, including, but not limited to,
<br />Trustee's fees of not more than __ %of the gross sale price, reasonable attorney's fees and costs of title evidence.
<br />(b) to all sums secured by this Dead of Trust and (c) the excess, it any. to the person or persons legally entitled thereto.
<br />19. iorrower's R19M to Re111Nate. Notwithstanding Lender's acceleration of the sums secured by this Deed of Trust,
<br />Borrower shall have the right to have any proceedings begun by Lender to enforce the Deed of Trust discontinued at any time
<br />prior to the earlier to occur of (i) the fifth day before the sate of the Property pursuant to the power of sale contained in the Deed
<br />of Trust (ii) entry of a judgment enforcing this Deed of Trust it (a) Borrower pays Lender all sums which would be then due
<br />under tins Deed of Trust the Note and notes securing Future Advances. if any. had no acceleration occured (b) Borrower
<br />cures all breaches of any other covenants or agreements of Borrower contained in this Deed of Trust tci Borrower pays at+
<br />reasonable expenses Incurred by Lender and Trustee enforcing the covenants and agreements of Borrower contamed in this
<br />Deed of Trust anti m enforcing Lender s and Trustee's remedies as provided in paragraph , ti hereof ,.0 cud rig Out not 1,mded
<br />rr> rpagonAhle A"Orney'g fees . and ttll Fk,rrower taken-luchaciton as L ender may reasonab,. ,Piju„P io as��. ve !hat the ben of
<br />m,s DeeQ ,ii trust t ender s interest ur ihn Prryrp my and Borrower s obhgaltor, to pity the s,imc %er . re„ by ' ^.s I iped of
<br />shift' Cr�nhnafw , -np8,rbr} :Jj74an qvf h peYment 9nt1 r, life by Ek?ttnwur !fa,E �,PPr1 nr ?.,,57 :+ ^,! �P!n1e i � r, vied nPrnbR
<br />RhAl� tan1A:+' f i,rr+ islrCi ,y „d riNy.1 iiR !114rr act.elerall "r, I�ad 51C- .0 ;+r,erf
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