|
€• � this lid of lutist irumesEiately prior to the dale of taking bcAr* to ills, lair market value of ehe Property onolvdiatriy prior to tfar da =e of
<br />taking, with the balance tit the prch.ccd€ paid to N-rrowcr.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to stake an award or seine a
<br />claim for damages, Borrower falls to respond to lender within 30 days alter the date such notice is mailed, tender is authorized ro codmi and
<br />:apply the proceeds, at Lender's option, either to restoration or repair of the Props riv or to the sums secured by this D l of Ti ust.
<br />Unless Tender and Borrower otherwise agree fat writing, any such application of pro i mis to principal shall not extend or postrione ilce due
<br />date of the monthly insrallinents referred t ;s in paragraphs I and 2 hereof or change the amount of such installments.
<br />10. Borrower Nei Rem. Extension of the time for payment or modification of amortization of the sutras secured by this Heed of " nisi
<br />granted by lender to any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Burrower and
<br />Borrower's successors in interest. Lender shall nor he required to eontmcnce proceedings against such successor or refe„t to extend time for
<br />payment or otherwise modify amortization of Gee sums secured by this Deed of I rust by reason of any demand trade by the originals Borrower
<br />and Borrower's successors in interest.
<br />11. Forbearaase by Leader Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded
<br />by applicable taw, 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 Peens or charges by Lender shall not be a waiver of Lemief'% right to accelerate the maturity of the indebtedness secured by this
<br />Deed of Trust.
<br />12. Remedfes Cumulative. Ail remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this
<br />Deed of Trust or afforded by law or equity, and may he exercised concurrently, independently or successively.
<br />13. Successors and .Assigns Bound; Joint and Several Lialli ity; Captions. The covenants and agreements herein contained shalt hind, and
<br />the rights hereunder shalt 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 a'aptions 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 Jaw to be given in another manner, (a) any notice to Borrower provided for in
<br />this Deed of Trust .shalt be given by mailing such notice by certified mail addressed to Borrower at the Property Address or at such other address
<br />Its Borrower may designate by notice to Lender as provided herein, and ( h) any notice to ! ender 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 />15. Uniform Deed of Trust. Governing Law; Sevembitity. This fermi 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 teed 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 peed of
<br />Trust or the Note conflicts with applicable law, such conflict shall net affect other provisions of this Deed of Trust or the Note which can he
<br />given effect without the conflicting provision, and to this end iht- provisions of the Deed of Trust and the Note are declared to be severable.
<br />16. Borrower's Copy. Borrower ;hail he furnished a contc rmed �n :y of the Note and of this Deed 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 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, decent 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 tender'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 io whom the Property is to he sold or transferred reach agreement in writing that the credit of
<br />such person is satisfactory to [.ender and that the interest payable on the ,urns se;:ured by this Deed of Trust shall be at such rate as Lender shali
<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 amurrtpticm agreement accepted in writing by Lender, Lender ;hall release Borrower from all obligations under this Deed of Trust and
<br />the dote.
<br />if Lender exercises such option to accelerate, Lender shall snail Borrower notice of acceleration in accordance with paragraph i4 hereof.
<br />Such notice shall provide a period of not less than 30 days from the date lee notice is mailed within, which Borrower may pay the sums dedared
<br />due. If Borrower fails to pay such sums prior to the expiration of such ] -riod. Lender may, without ! urther notice or demand im Ror=ovrer,
<br />invoke any remedies 1crmim -d by paragraph IS hereof.
<br />NON - UNIFORM COVENANTS. Borrower and lender further covenant and agree as follows_
<br />18. Acceleration; Remedies. I•xcept as provided in paragraph 17 hereof, upon .Borrower's breach of Ray covenant or agreement of
<br />Borrower in this Deed of Trust, Including the covenants to pay when due any sums secured by this Deed of Trani, Lende: prior to acceleration
<br />shall taail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action required to care such breach, (3) a
<br />date, not less than 30 days from the date of notice is malted to Borrower. by which such breach roust be cured; and (4) that fanfare to cure ouch
<br />breach on or before the date specified in the notice may result in acceleration of the sums secured by this Deed of Trust and safe of the Property,
<br />T w notice shah further inform Borrower of the right to reinstate after acceleration and the right to bring a coon action to Insert Ilse non -
<br />nice of a default or any otner defense of Borrower to acceleration and sale. If the breach is not cured on or before the date specified in the
<br />notice. 1ximeter at Lender's option may declare all of the sums secured by this Deed of Trust to be Imurardiately due and payable without further
<br />dcmmW and may invoke the power of male and any tether remedies permitted by applicable law. Lender sbait be entitled to collect all reasonable
<br />comis Rid expernics incurred in panning the remedies provided In this paragraph 15, including, but not limited to, reasonable atiarrit y's fees.
<br />If the power of safe Is invoked, Trustee shat] record a notice of default in each county In which the Property or some part thereof Is located
<br />WW %MR man c of Wh notice in the manner prescribed by applicable Is" to Borrower and to the other persona prescribed by applicable
<br />law"Affirr the art such [law as may he requited by applicable law, Trustee %hall Rive public notice of sale to the persons and in the misaire^r
<br />prescribed by applicable low. "trtee, .#thou# demand on Borrower, %half belt the Property at patine Ruction to the highest bidder at the time
<br />mad Owe Raid under the terms deviated in the notice of sate In one or more parcels and in such order as Trustee may determine. Tr:,ster firm
<br />parreparat salr of aR of any parcel of the Property by public announcement at the time and place of any previously scheduled sale t cutter are
<br />'m dewkgam may Purchase the Property at any .
<br />1; alt payment of the price li rushee shall tirliver tit the pt£rchaser Trustee's deed conveying the Properl% sohf. The ree raaf, in
<br />the T '% dolad %W I* prifflarm faatiar evideoer of the truth If the statrments made iberew t rili shall apply the proreerls of the wale in th"
<br />folkinaling orther: ta) to sit reasonable cif is the sale. iocholing, hot toot Limited to, I'rusirr's fevw of not morn than
<br />of the promi We prfrr, reasonable aglisrwry "£ f and a-ea. %i% vt o9ilr s ldent -e: iris In, rail carry M,Ktfred by this tired of trorsl:'And awl phr e� ;�r.,�, 0
<br />am . 10 the pemot sec persaxm kritsot "Wt*d stvsrvais..
<br />19. ewer'« Rohl lit krif, sia£r. -d", _t,, i s , t: i, '0";:!,,d ` ter,
<br />_ter , qht , > a ...... e `-unit ? 1 .r t i. ,.<.. t . -,. <,: ..o .it l.c_
<br />,h ',s . ,f „s, '.�. .a- t:e C r , .e s ;t .r'x ,w �.. ,i :a. a r - ., , r ;e�� ., ,: �+�xr ,
<br />
|