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86-10747Z
<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 />tilting, 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 />rf claim for damages. 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 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 Batrower 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. Bart swer Nets RaNased. Extension of the time for payment of modification of amortization of the sums secured by this Deed of Trust
<br />grant td by Leader 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 shalt not be required to commence proceedings &galnst 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 Borrower's successors in interest.
<br />11. Forbauaace by Leader 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 tight 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 maturity of the indebtedness secured by this
<br />Deed of Trust.
<br />IL Reaails Cumulative. All remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this
<br />Dated of Trust or afforded by law or equity, and may be exercised concurrently, independently or successively.
<br />13. Soccomi ss and Aselgeo Douai; Join ad Several Iiabdity; 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 Dead 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 nail, 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 />1S. Untform Deed of Tract; Governing Law; SevemMiky. This form of deed of trust combines uniform covenants for national use and
<br />non- uniform covemanu 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 law, such conflict shall not affect other provisions of this Dad of Trust or the Note which can be
<br />given effect without the conflicting provision, and to this end the provisions of the Dad of Trust and the Note are declared to be severable.
<br />lf. 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. Traader 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 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 taw 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 Tr! 'o 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 writtrg 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 her 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 wrung by Lender. !_ender shall release Borrower from all obligations under this Deed of Trust and
<br />the Noe.
<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 />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 />Ig. Acceleration; Remo". Except a provided in paragraph 17 hereof, upon borrower's bit it of any covenant or agreement of
<br />Do own In this Deed of Trust, htcidisg the covenants to pay wbm due say suss secured by oils Deed of Trust, Leader prior to acceleration
<br />sir sail notice to Borrower in provided he paragraph 14 hereof specifying: (1) the breach; (2) the action required to ewe ,each breach; (3) a
<br />tlde, ash ham than 30 clays from the daft of s slice Is ssBed to Borrower, by which sock breach most be cured; and (4) that Ware to ewe such
<br />breach on of before the date specified is the sodee may resit in acceleration of the seen seem by this Dud of True sad sole of the Property.
<br />The uotla shell fmdm Worse Borrower of the right to reMpate afar acceleraid" and the H& to being a court action to avert the son -
<br />ad11&uus of a defmk or any older defers of Borrower to acceleration and sale. If the breach b ace cured on or before the date specified its the
<br />sedee. header of Lender's option say I ,I all of the suss secured by this Deed of Trust to be immediately due and payable without further
<br />demand and my invoke the power of ask mud nary other remedies permitted by applicable law. Leader .Yeti be entitled to collect ad reasonable
<br />oasts ad expenses We imp , the ream" provided Is this paragraph Ili, including, but not Meshed to, rawsshle ariorseg's fees.
<br />If On power of sale is invoked. Trsame shll recoe a notice of default In each county in which the Property or some part thereof Is located
<br />and sir oar copies of such soccer in the soma prs, N - by applic"le law to Borrower and to the other persons peeac. bed by applicable
<br />law. Allier Ike hopes of such time m say be tesish by app Yailt law, Truster shell give public sotice of sale to the persons said is the maser
<br />Pe 111 'icy appliable lasr. Trusbe, without dsasd ems Borrower. shr sell the Property at pebbc auction to the highest bidder at the time
<br />and plus& and under the in dedgmaed Is the notice of sole Is use or more parcels and in mach order as Trustee may determine. Trustee may
<br />poelliaw seek of all ow any pars of tit Prop" by pehik announcement at the time sad ph" of any previously scheduled sale. LeMer or
<br />Loader's designee may psm ., nice Property at any war.
<br />L Up" raceII of payment of the price bid, Trustee shall deliver to the psrclser Trustee's deed couveying the Property. sold. The recitals in
<br />the TrusM&'s deed shag be prima facie evidence of the tasth of the statements made therein. Trustee shag apply the proceeds of the sale In the
<br />FdMmirg 00410 t (a) N si reaoannb a comb oW erpeases of the sale, isdedkag, bat not United to. Trussre's tees of mot more than _ 3 ro
<br />of the pons sob peke, nsoasNlt mtorney's fees and cosh of title evidence; (bi to an sacs wcmrrd by this peed of Trust; and ec) the rtcrsa, If
<br />tmy. M Ike pursue or persons le>pMy gadded demote.
<br />19. Doi 9a"'s fingit to Rd mift. Not Leader's acceleration of the sum% scrurrd hs this (iced of Trust, 114trrower shall hair
<br />the right to have arty pwt-.wdings begun by I -ender to enfence the., Dead of Trust dts,onttnurd at am tutor 1,nor to the rafhe! to ,stir of it the
<br />fifth day before the sale of the Prc twtty ptstsuant to the pti: weT of %ale ciritaincd in this tkeetl of Trt.t ,sr oo rn.trs o' n su,iKtnrut ; ert;,r,.•,y !h,,
<br />f)".4 of I rust if Pal Fienrower pay-% I ender all stoma whrch .,sold Fir thcr des t:ndrr this I J e,I 1 ""T, 'hr Note And r.xr. ,r . irr f � Tot r
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