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86- 107152
<br />by this Dad 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 Lender to Borrower that the condemnor offers to make an award or settle a
<br />claim for dainalies, Borrower fails to respond to Linder within 30 days after the date such mice is mailed, Lender is ,th,,i d to collect OW
<br />apply the proceeds, at Leader's option, either to restoration or repair of the Property or to the surns 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 monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments.
<br />Is. Bs trowar Not Solenoid. Extension of the time for payment or modification of amortimition of the tuns 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 comm or commence proceedings against such success" 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 />aid Borrower's successors in interest..
<br />11. F-bearwee by Leader Not a Wk-.Ay forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded
<br />by applicable law, shall nee 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 &ns or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this
<br />Dated of Trust.
<br />12. Rome" Caamolotive. All remedies provided in this Dad of Trust are distinct and cumulative to any other right or remedy under this
<br />Dad of Trust or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />13, Soco@mi s Yd Assipm Bond; .point ad 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 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. Nedce. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in
<br />this Dad 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 Lender 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- Unitorw Dead of Tana; Govesrdag Law; Sevaabllky. This form of deed of trust combines uniform covenants for national —and
<br />won- 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 Dad 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 />if, Bmrower'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. Thinner of the Property; Amomption. 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 Dad 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 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 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 feed of Trust and
<br />the Note.
<br />If Lender exercises such option to accelerate. Leader 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 suns 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. Acederadou; Remedlim. Except as provided in paragraph 17 hereof, open Borrower's bract of any covenant or agreement of
<br />Dow own Is thin flat of Trull, including the covenants to pay when due nay sites: secured by ton Dad of Trost, Leader prior to acceleration
<br />shall Wall shire to Borrower in providd is paragraph 14 hereof specifying: (1) the breach; (2) the action required to care such breach; (3) a
<br />dale, cast less than 31 days from the tease of notice is saaad to Borrower, by which such breach smst be cored; and (4) that feasm to care such
<br />btaa A as or before the date specified In the notice may f Wit Is acceleration of the seems secured by this Deed of Trust sad sale of the Property.
<br />Tine atolke shall fm thus ksforur Borrower of the ri(hl to rdnstale after acceleration and the right to bring a Court action to own the son -
<br />twiftece of a I f 1 or my ,tier defense of Borrower to acceleration and male. If the bract Is not cwed on or before the date specified In the
<br />nNke.
<br />Leader at Ledev's option may dtecLre all M the stns secured by this Decd of Trust to be Immediately due and payable without farther
<br />demand sod may invoke tie power of sole ant any other nwedes permitted by applicable law. Leader shall be entitled to collect as reasonable
<br />nub and expenses Incurred in pursmhrg the atttatnHes PO N In this paragraph 18, Including. but not Visited to, reasonable attorney's fees.
<br />i[ tie power of ask is Invoked, Trusee shah rani a notice of default is each comely in which the Property or some part thereof is located
<br />and shall rasa copies of such notice to the mower preasribd by applicable haw to Borrower and to the other persons prescribed by applicable
<br />low. Afbr the impse of such doe as my be required by gpllcoble ow, Trustee shall give public notice of ask to the persons and in the wamuer
<br />0 Rai by applicable law. Tauaee, wfthont demand on Borrower, shall sell the Property at public section to the highest bidder at the time
<br />and piste and staler the -curs designstei In the notice of sale to one or sore parcels and in seek order as Trustee gray determine. Trustee may
<br />poespwt sale at all or asfy fared of lie Pr spin I) by public smwwnceweat at the time sd piece of any previously scheduled sale. Leader or
<br />Loader's iedgme msy pvchsse the Property ur any sde.
<br />tip- receipt of puysent of the price bid, Trustee srua deliver to the purchaser Trustee's deed coeveying the Properly sold. The recitals in
<br />the Trasim's dui 9" be pricer tack evidence of tit truth of the statements wade therein. Trustee shall apply the proceeds of the sale In the
<br />foNawfag Wdsr: (a) to all rsuseuuik emb cod atpomis of the sak, including, but mot limited to. Trustee's fees of not more than —3.0 _ono
<br />M die woo fain price, reasonable attorney's fees and ceub of title evidence; (b) to as sus secured by this Deed of Trost; mad (c) the excess, if
<br />my. to the person or persons legally added thing 0.
<br />If. Bttmwer's flight to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Deed of Trust, Borrower shalt 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 o'cur of (i) ate
<br />fifth day before the sale of the Property pursuant to the power of sale contained in this Deed of Trust or 00 entry of a judgment enforong'his
<br />Deed of Trust if: da) Borrower pays Lender all sums which would be then due under this Iced of Trust, the Note and notes securing fntuto
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