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86- 1, 07355
<br />by this Deed of Trust immediately prior to the date of taking hears to the fair market value of the Property immediately prior to the date of
<br />tAing, 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 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 l.endler's option, either to restoration or repair of the Property or to the sums secured by this Deed of Trust.
<br />Unless lender 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 I and 2 hereof or change the amount of such installments.
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortization of the stems secured by this Dad of Trust
<br />granted by Letaler 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 commence proceedings against such successor or refuse to extend time for
<br />payment or otherwise modify amoatitation of the sums secured by this Deed of Trust by reason of any demand made by the original Borrower
<br />and Borrower's successors in interest.
<br />11. Forbearance by fmadet• Not a Waiver. 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 liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturiiy of the indebtedness secured by this
<br />Deed of Trust.
<br />12. Remedfa Cumulative. All remedies provided in this Reed 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 maybe exercised concurrently, independently or successively.
<br />13. Soccessam sad Assigns Bound; Joint and 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. Notice. 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 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 [Wanner designated herein.
<br />15. Uniform Deed of Trust; Governing Law; Sevmbility. This form of deed of trust combines uniform covenants for national use and
<br />non- 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 Deed of
<br />Trust or the Note conflicts with applicable taw, 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 cops c•f the Mote and of this teed 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 Larder's prior written consent, excluding (a) the creation of a lien or en:umhrance 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 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 1# 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 Borower's successor in interest has executed a
<br />written assumption agreement accepted in wetting by Lender. Lender shall release Borrower from all obligations under this Deed of Trust and
<br />the Note.
<br />If Lender exeretses 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 4) days from the date the notice is mailed within which Borrower may pay the sums declared
<br />due. U 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 />10. Acceleration; Remedies. tacept as provided in paragraph 17 bereof, upon Borrower's breach of my covenant or agreement of
<br />Borrower in thin Deed of Trust, including the covenants to pay when due any satin secured by ibis Deed of Trust, Deader prior to acceleration
<br />rholl grill notice to Borrower as provided In paragraph 14 hereof specifying: f 1 the breach; (2) the action required to tare such breach; (3) a
<br />"It, not less than 30 days from the date of notice is mailed to Borrower, by which such breach must be cared; and (4) that failure to care such
<br />breach o• or before the date specified in the notice may result In acceleration of the sums secured by this Deed of Trust and sale of the Property.
<br />Tint melee shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert The non-
<br />existence of a default or any otaer defense of Borrower to acceleration and sale. If the breach is nol cured on or before the date specified in the
<br />notice, Lender of fender's option my declare all of the sums secured by this Deed of Trust to be Immediately due and payable without further
<br />dental
<br />'sod my invoke the power of sak and any other remedies permitted by applicable taw. Leader shall be entitled to collect all reasonable
<br />emu and expenses incurred In pursuing the remedies provided in this paragraph 18, including, but not limited to, reasonable attorney's fees.
<br />If the power of sale is invoked, Trustee shall record a notice of default in each county In which the Property or some part thereof Is located
<br />and slue mid copies of such notice In the owns" prescribed by applicable low to Borrower and to the other persons prescribed by applicable
<br />law. After the lapse of such time as may be required by applicable law, Trustee shall give public notice of sak to Ike persons and in the monster
<br />prarcri►ed by applicable low. Trust«, without demand on Borrower, sbaH sell the Property at public suction ;o the highest bidder at the time
<br />and Vince and wader the terms designated la the notice of sak in one or more parcels and in such order as Trustee may determine. Trustee mev
<br />postpone sale of all or any parcel of the Property by public announcement at the time sad plan of any pra'loa* scheduled sale. Lender or
<br />Lender's dedgen may purchase tits Property at any sale.
<br />Upon recei of payment of the price hid, Trustee shall deliver to the pun-hater Trustee's deed conveying the Property sold. fee motels to
<br />I
<br />Or Tnm*w's eked s60 be prima facie evidence of the truth of the statements modr therein. Trustee shall apply the proceeds s.: the sslf to she
<br />L follovel a order- 4*0 toed reasonable costs and expenses of the sale. Including, hot not limited to, Trusiee's fees of not more then le
<br />of the gross wale price, rrowmable attorney's tea and ruts of title evidence: ibl en all sums secured by this feed of Trust; and tcl the rxrr r. it
<br />say, to the prewin or persons legally entitled thereto.
<br />14. 1lertawr '% Right to Rrinalate. Nr?[wit!tstan Litt I ei ,,t: e t,i': ^I,re ..... he itn< sec used hs ilu: herd e( ?_ruts. Ho•mae n.r
<br />the right ter taxes Any ;ts,a:4etilS x %; tmexein he ,.crdrr ro c :c?rs:c ?rt> i).�.. t •.t.:.t,,c u,,..,.ed ai xr.. umc Cnnr ,hr cis:? .., ,,;, -� :�.;
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