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86- 106216
<br />by this Dad of Trust immediately prior to the date of taking bears to the fair marker value of the Property immediately prior to the date of
<br />taking, with the balance of the promods 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 award or settle a
<br />daien for damages, Borrower fait+ to respond to Lander within 30 days after the date such notice is mailed, Leader 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 Lander and Borrower otherwise agree m wrrw& any such application of proceeds to principal sha'J net extend or postpone the due
<br />dude of the moathly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments.
<br />M. larrewer Not Nalmmil. Extension of the time for payment or modification of amortize = of the sums stecurce' by Ibis Deed of Trust
<br />gra . by Lender to orgy successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and
<br />Borrower's succemors in interest. Lander 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 Borrowei s successors in interest.
<br />I1. FsMaanoe y lender Nan a Waiter. Any forbearance by Lender in exercising any right or remedy hereunder. or otherwise afforded
<br />by apphc" law, shalt not be a waiver of or preclude the exercise of any such right car remedy. The procurement of insurance or the payment of
<br />taxes or other liens 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 />I2. Remedies Cie. All remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this
<br />Deed of Trost or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />11 Sucensaeaand Andres Bound. ]Dial and Several Li Mfr-, Captious. 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 />bereof_ All covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragraphs of this Deed of Tout
<br />are for convenience only and are not to be used to interpret or define the provisions hereof.
<br />M Noce. Except for any notice t equired 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 try notice to Lender as provided herein, and (b) any notice to Leader shall be given by certified mail, return receipt
<br />regxnested, 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 />15. U Iftaa Deed of Treat: Governing Law; SevergMBty. This form of deed of trust combines uniform covenants for national use and
<br />tom- 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 iaw 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 />16. 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
<br />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 transferred by Borrower
<br />without Lender's prior written consent, excluding (a) the creation of a Len or encumbrance 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 operzsion of law upon the death of a joint
<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 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 reach agreement in writing that the credit of
<br />such person is sansfacton to Lender and t'.mst the interest payable on the sums secured by this Deed of Trust shall be at such rate as Lender shall
<br />request. If leader 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 Iced of Trust and
<br />the Note.
<br />If Leader 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 perod. 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 />It. Acceleration: Remedies. Except as provided its paragraph I7 hereof, upon Borrower's breach of say covenant or agreement of
<br />On own In this Deed of Trust, Including the covenants to pay when due any sum secured by this Deed of Test, header prior to acceleration
<br />sbO ONE astiee to Borrower as provided In paragraleb 14 hereof specifying: (1) tie breach: (2) the action required to eve sod breach: (3) a
<br />dote, not ins than 30 days from the date of notice is milled to Borrower, by which such bead must be cured. and (4) that falhre to core such
<br />breach an or before the date specified In the notice may result is acceleration of the sums sacred by this Deed of Tram and sale of the Property.
<br />The tnutive slwN tmlber Inform Borrower of the right to reinstate after acceleration and the right to bring a cowl action to sawn the non -
<br />eadsteaee of a deladf or any otaer defense of Borrower to acceleration and ask. If the Imes , Is not cased on or before the dale specified In the
<br />twine. Lender at header's option may t{ec' all of the sass secured by this Deed of Tract to be immedIna dy due and payable witboat fariber
<br />demand and any Invoke the poser of sale and any other ret:oedier permitted by applicable low Leader shall be entitled to collect all reasonable
<br />ogres and expenses beams in perm, the - m Me provided In this paragraph 18. Including. but sot Himbi d to, reasonable atiorsey's fees.
<br />K Ver power of sale is invoked. Trustee shag record s notice of default is each cousty to obit the Property or some part tbereof is located
<br />and Y nag copies of anti notice in the manaer prescribed by applicable law to Borrower and 10 the other persons prrmilied by applicable
<br />Iuw. Afw Ar input of each time as may be m g ird by appYnble law. Trustee shall give public notice of sale to the persona and In the manner
<br />graaaiM by applicable low. Tnamee. withoal rend oa Borrower. shall sell the Property at public mcdoet to the MOM bidder at the tine
<br />and grinner and under the on raigna, In the aotice of sale In one or mute gods ad In such order as Trustee may determine. Trustee may
<br />pampaim air of all or any pared of the Property by public announcement at the time and piece of any previously K*Wuled sale. Lender or
<br />Iars6► s de dgmar may pee, the Property at any sale.
<br />Upon ncdpt of pnymen of the price bid. Terslee shall deliver to the purchaser Trustee's decd conveying the Property cold. The mitsls in
<br />Lfie Ttadne s lead 00 be priors fade evidence of the trath of 14 statements made therein. Trustee sball apply the proceeds of the sale in the
<br />lL� fellbo lrig order: (a) to aS rwaoanbircoxes and esiensa of tie ask, iodudiaR, but not limited to. Trustee's teas of not more tbas 3 °.
<br />of der gram seek price. rearaurhir attorney's fees sad costa of title "kieade; fbu to all sums secured by this Deed of Trust; aad (cl the excess, if
<br />ant, to the Versos or persons legally entitled tbereto.
<br />lf. Norrswer's Wale! toAeiaorate. Piotwiths:andrng Lender', accelerat ... n „f the aunt, secured by this Deed of Trust, Borrower <hail hasc
<br />the right to have am proceedings t+egun by Lender to enforce this f>,xcl of 1 rn,i des,ontmued w am time Griot to the rather :c ,rc; yr ,,t to the
<br />fifth day W4..re the sale of tfc t'rr.ncrti pursuant to the;x—er m :ale nta:ncd :t, th,, f)ec, m 1,us; or mi cntn c+f a ludgnten: rr,1c ;+t;c it—
<br />f,)ced of Irust if fah ew!rower pan, Ix Vitro aV sums which .vunld tw ±bcn due under this I>^ed ,d 1 not. 'lte Note ant: n e ..,:nine i -ol-
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