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<br />86- 10 7403
<br />by this Deed of Trust immediately prior to the date 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 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 Lender's option, either to restoration or repair of the Property or to the sums secured by this Deed of Trust.
<br />Unless Leander and Borrower otherwise agree in writing, any such application of proceeds to principal shall not reread or postpone the due
<br />date of the monthly installments referred to in paragraphs h and 2 hereof or change the amount of such installments.
<br />10. loenawns Not Released. Extension of the time for payment or modification of amortization of the stuns secured by this Deed of Trust
<br />granted by Lender to any successor in interest of Borrower shall net 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 amortization of the stems secured by this Deed of Trust by reason of any demand [Hack by the original Borrower
<br />and Borrower's succaaors in interest.
<br />11. iForbmnaoe by Leader Not a Waiver. Any forbearanc: by Lender in exercising any right or remedy hereunder, or otherwise afforded
<br />by applipblelaw, 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 shalt not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this
<br />Deed of Trust.
<br />12. Illew"m Camoative. All remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this
<br />Dad of Trust or afforded bylaw or equity, and maybe exercised concurrently, independently or successively.
<br />13. Successors soul Assigns Bound; Joist sad 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. Nodes. 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 !_, -nder 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. Unitas m Deed of Trash; Governing Law; Sevenbli ty. 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 />14. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Decd of Trust at the time of execution or
<br />A
<br />after recordation hereof.
<br />17. Transfer of the Property; Aswmption. If all or any pan 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 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 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 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 />as
<br />written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligations under this Dad of Trust and
<br />the Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof.
<br />Such notice sbail 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 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 />IL Acceleration; Remedies. Except as provided is paragraph 17 hereof, upon Borrower's breach of my covenant or agreement of
<br />Bee suer in this Deed of Trial, including the covenants to pay when doe any sum secured by this Deed of Trust, Leader prior to acceleration
<br />dealt riot notice to Borrower as provided In paragraph 14 hereof specifying: (1) the breach; (2) the action required to curt such breach; (3) a
<br />late, net less them 39 days from the date of notice Is sselled to Borrower, by which such breach lust be cared; and (4) tot failure to care such
<br />Mead oar or before the date specified to the notice my mull Is acceleration of the sum secured by this Deed of Trust sell sale of the Properly.
<br />'lie aetla elmlt further Isforat Borrower of the right to reinstate after acceleration ad the right to bring a cool action to areal the non -
<br />dalatesee of a default or a" older defense of Borrower to aceelee I oat sae. It the breach Is not curd on or before the date specified to the
<br />awkY, Leader at Lender's option may declare all of the stem seemed by this Deed of Trust to be Immediately doe and payable without further
<br />deemed and my invoke the power of sae add my other remedies permitted by applicable law. Leader shall be entitled to collect all reasonable
<br />cents and expenses incurred Is pursdag the resed i provided In this paragraph 18, inciudlag, but not limited to, reasonable attorney's tees.
<br />U the power of sale is invoked. Trustee shall record a ootice of default in each county in which the Property or some part thereof is located
<br />and shot mil copied of such notice in the manner prescribed by applicable law to Borrower and to the other persons prescribed by applicable
<br />law. After the Intent of such time an my be required by applicable law. Trustee shall give public notice of sale to the persons sad in the manner
<br />prunihed by applicable Ina. Trustee, withdiat demand on Borrower, shag sell the Property of public auction to the highest bidder at the time
<br />and piece mud under the term I lil led is the notice of see in one or more parcels and In such order an Trustee my determine. Trustee msy
<br />postpone ask of all or my parcei of The Property by public announcement at the time and place of any previously acbedoled Yak, leader or
<br />Leoier's dedipm my purchase Ike Property at any sets.
<br />Upon Face* of payment of the price bid, Trustee +halt deliver to tkt porchaser Trustee's deed conveying the Property soil. The recitals In
<br />Or Tresir's dad simil M prim tack "Wrace of the Usti of the swevor nts made therein. Trustee shall apply the proc s of she oak in the
<br />taBnwfag order: (a) to alt reasonable costs and espeam of the sak, including, but not limited to. Trustee's tees of not more than
<br />of the gem ask price, reuoaabk rlorney's fees and costs of tille evidence; ib) to all sums secured by this Deed of Trust; add ice the excess. if
<br />my, to the penos or perurm Witally eudded thereto.
<br />It. Borrower's Right to Reinstate. Not with, tanding Lander', acceleration :,f the gums secured by this Deed of Trust, lia.....tr
<br />the right to ha.c aoy prcwtedlnas belrun by 1 ender to eofottx th„ rtee:f r,1 trust h,o,niinnrd at any tune prior to th, cane to ,u:,:� . <, •!:e
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<br />fefrh day brf<uc !hc Sale cif the ProgicTiy pufwant !o 111E rC.er (,t Sale ontalneti In Ih- Derii of Ir;i St :,t no enttl „t a oudgmew f, ,nl •'n'
<br />Cream of I rtW :i ley tt "t rr)WCF T AvT I ender Ail 'Unit ,e ultl Fie !i,m itte 11n 3rr rt 1 r1!'1 Ihr No!f ,tttd f, I" 'T, , ;1t ,,... .
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