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86-V107148
<br />by this Deed of Trust immediately prior to the due 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 Leader to Borrower that the condemnor offers to make an award or settle a
<br />claim for dainagea, Borrower fails to respond to Leader within 30 days after the date such notice is mailed, Lender is authorized to collect and
<br />apply the proceeds, at Leader's option, either to restoration or repair of the Property or to the sums secured by this Deed of Trust.
<br />Unless Leader and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due
<br />date of the matuNy installments referred to in paragraphs I and 2 hereof or change the amount of such installments.
<br />It So own Nat Rdeawd. Extension of the time for payment or modification of amortization of the stuns secured by" Deed of Trust
<br />VmKW by Leaden' to any successor in interest of Borrower shill not operate to release, in any manner, the liability of the original Borrower and
<br />Borrower's successes in interest. Lender shall not be required to commence proceedings against such successor or refuse to extend ume for
<br />payment or otherwise modify amortization of the sums secured by this Dead of Trust by reason of any demand made by the original Borrower
<br />and Borrower's successors in interest.
<br />11. Forlionmem by lamer Not o Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded
<br />by applicable laws, 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 Leader shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this
<br />12. Ems in Cumulative. All remedies provided in this Dad of Trust are distinct and cumulative to any other right or remedy under this
<br />Deed of Truer or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />13. Ssereuaos sad Andgee Boni; Jolat and Several Llab fly; 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 Dad of Trust
<br />are for convenience only and are not to be used to interpret or define the provisions hereof.
<br />14. NMke. 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 Test shall be given by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address
<br />as Burrower may designate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by certified mail, return receipt
<br />requested, to Gender'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. Uniform Deed of Tend; Governing Law; Severali ty. This form of deed of trust combines uniform covenants for national use and
<br />nom- uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. This Dad 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 ontd the provisions of the Deed of Trust and the Note are declared to be severable.
<br />14. Ent owes '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 />17. Triads of the Property; Assoptioa. If all or any part of the Property or an interest therein is sold or transferred by Borrower
<br />without Leader's prior written consent, excluding (a) the creation of a lien 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 operation 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 date and payable. Lender shall have waived such option to accelerate if,
<br />prior to the sale or transfer, Leader 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 secures by this Dad of Trust shall be 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 Deed of Trust and
<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 />dose. 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. Acederatioo; RemedleL Ezeept as provided In paragraph 17 hereof, spa brrowees Ixead of nay coveaaat or agreement of
<br />Dar rows is this heed of least, lndsalag the eovesaats to pay wbes doe any — ecauei by this Decd of Trap, tender prior to aeceleratfoe
<br />sW nrtN sotieo to Borrower as provided is paragraph 14 hereof spoe fyfag: (1) the breach; (2) the acilos rmodred to core each I A ; (3) a
<br />doe, net bas Ihas 34 days from the date of soda Is to dled to Narrower, by o such Mach one be cared; and (4) that fallore to cure each
<br />, . on ar before the dole specified i• the notice any resell Is acceleradoo of the some sensed by dada Deed of Trod sad see of the ProPerey.
<br />The notice d M fas dw i f , Not rower of the rWK to saMtle after acceleration and the r% N to bring a court acttaa to aeeert the aon-
<br />esdsleeee of a I 11 or any otter dtiesse of Nwiewer to ac r Is 11,a and oak. If the hreseh is not cared ou or before the date spodfkd In the
<br />madm, Lender of Leader's opdos any daelare err of the mss secured by tbls Deed of Trap to be immediately due and payable without farther
<br />demand and tray htveke the power of sale and any other reatdlss permillei by applicable saw. Lender dhall be entitled to collect all reasonble
<br />caste od expeoeeo imus In pan . the remedies Baled in this paragraph 18, including, but trot Muffled to, reaoonable anorsey's fees.
<br />ff me power of oak is Isvottd. Trustee shah record a aodr of default is neb toasty N wYeb the Property or some part thereof is located
<br />and duall a" copies of each notice In the manner p o r N by apply alsk law to Borrower and to the other pessess prescribed by applicable
<br />Mw. Aft r the IaNe of sock due as my be ee,aioed by appOcabk law, Trsolee disY give }sbik notice of sale to the persons and in the manner
<br />pooaaI by appNeahk ben. Trus tee. witlkast demand an Borrower. shall sill the Property at pnWe owdoa to the higbest bidder at the Eire
<br />sad plae and under the tense duiS - I is the aoif I of sale In one or more parcels sad in sack older as Trustee way determine. Trader may
<br />p s"m ask of aN or any pared of the Property by poWc aasosacement at the time and place of any previously sebedaled sale. feeder or
<br />LoWler's ds om may ptirriaae the Property at any sek.
<br />Upon receipt of payment M the price bid, Trustee shell deliver to the porchaeer Trustee's dad conveying the Property sold. The recitals Is
<br />the TrMoe's deed d M be prima fade evidence of the trath of the statements snide tbxda. Trustee shall apply Use proceeds of the sob in the
<br />i IewIng aide (a) to n0 reasonable eopo and expenses of the safe, lododng, but not limited to. Trustee's fees of sot more than --3- re
<br />of tbs gsua uk peke, reawaa11 anorney's loss and cods of tide evidence; (b) to all sums secured by this feed of Trust; sad (c) the excess, if
<br />ashy, lathe Pwo or perso- legaNy entitle thereto.
<br />19. Norrewer'9 Matt to ghistale. Notwithstanding Lender's acceleration of the sums secured by this Deed of Trust. Borrower shall have
<br />the right to have any proceedings begun by Lender to enforce this Deed of Trust discontinued at anytime prior to the earlier to occur of (0 (he
<br />fifth day before the sale of the Property pursuant to the power of sale contained in this Deed of Trust or (ii) entry of a judgment enforcing this
<br />Borrower pays Lender all sums which would be then due under this Deed of 'crust, the Note and notes securing future
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