|
F
<br />M
<br />85-000019
<br />not personally liable on the Note or under this Deed of Trust, and (c) agrees that Lender and any other Borrower
<br />hereunder may agree to extend, modify, forbear, or make any other accommodations with regard to the turns of this
<br />Deed of Trust or the Note, without that Borrower's consent and without releasing that Borrower or modifying this Deed''
<br />of Trust as to that Borrower's interest in the Property.
<br />12. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br />'
<br />Borrower provided for in this Deed of Trust shall be given by delivering it or by mailing such nice by 6ortillkid mad
<br />a
<br />addressed to Borrower at the Property Address or at such other address as Borrower may designate by noti ;to' '
<br />as provided herein, and (b) any notice to Lender shall be given by certified mail to Lenders address stated her off td
<br />such other address as Lender may designate by notice to Borrower as provided heroin. Any notice provided;flor
<br />Deed of Trust shall be deemed to have been given to Borrower or Leader when given in the manner ;
<br />13. Governing law; Sevendillity. The state and local laws applicable to this Deed of, Trust all
<br />jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of Fetes
<br />this Deed of Trust. In the event that any provision or clause of this Dad of Trust or the Note conflicts with a ikoltle
<br />law, such conflict shall not affect other provisions of this Deed of Trust or the Note which can be given effect without the
<br />,
<br />conflicting provision, and to this end the provisions of this Deed of Trust and the Note are declared to be severable. As
<br />k=
<br />used herein, "costs ", "expenses" and "attorneys' fees" include all sums to the extent not prohibite4 by applicable law or
<br />limited herein.
<br />14. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Peed of Trust attire
<br />�,M
<br />time ofexecution or after recordation hereof.
<br />15. Rehabilitation Lean Agreement. Borrower shall fulfill all of Borrower's obligations under any home rehabilita-
<br />tion, improvement, repair or other loan agreement which Borrower enters into with Lender. Lender, at Lender's option,
<br />may require Borrower to execute and deliver to Lender, in a form acceptable to Lender, an assignment of any rights.
<br />claims or defenses which Borrower may have against parties who supply labor, materials or services in connection with
<br />improvements made to the Property.
<br />16. Transfer of the Property. If Borrower sells or transfers all or any part of the Property or an interest therein.
<br />excluding (a) the creation of a lien or encumbrance subordinate to this Deed of Trust, (b) a transfer by devise, descent, our
<br />by operation of taw upon the death of a joint tenant, or (c) the grant of any leasehold interest of three years or Less not
<br />containing an option to purchase. Borrower shall cause to be submitted information required by Leader to evaluate the
<br />transferee as if a new loan were being made to the transferee. Borrower will continue to be obligated under the Note and
<br />this Deed of rush t uniess de`r rclessos" orrowetiin- ti+riti�tg! ° - - -- — _..._
<br />If Lender, on the basis of any information obtained regarding the transferee, reasonably determines that Lender's
<br />security may be impaired. or that there is an unacceptable likelihood of a breach of any covenant or agreement in this
<br />Deed of Trust, or if the required information is not submitted, Lender may declare all of the sums secured by this Deed
<br />of Trust to be immediate) due and payable. If Lender exercises such Y P Y option to accelerate. Lender shall mail Borrower
<br />r
<br />notice of acceleration in accordance with paragraph 12 hereof. Such notice shall provide a period of not less than 30 days
<br />_
<br />from the date the notice is mailed or delivered within which Borrower may pay the sums declared due. If Borrower fails
<br />to such sums prior to the expiration of such
<br />pay P P period, Lender may, without further notice or demand on Borrower,
<br />x
<br />invoke any remedies permitted by paragraph 17 hereof.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />6
<br />17. Acceleration; Remedies. Except as provided In paragraph 16 bereef, upon Borrower's breach of any covenant
<br />or agreement of Borrower In tide Deed of Trust, including Borrower's false to pay, by the and of 10 calendar days after
<br />they are due, any sum seemed by this Deed of Trust, Larder prior to accelerates shall ght notice to Borrower as
<br />provided In paragraph 12 hereof specifying: 11) the breach; 12) the action required to cuss such breach, (3) a raft, not
<br />less than 20 days from the date the notice Is mailed to Borrower, by which such breach nest be cured; and 14► that
<br />failure to cure each breach on or before the date specified In the notice my result In accoleradim of the sums secured by
<br />this Deed of Trust and sale of the Property. The notice shall farther Inform Borrower of the right to reinstate after
<br />acceleration and the right to bring a court action to assert the nonexistence of a default or any other I I - of Borrower
<br />to acceleration and sale. If the breech Is not cared on or before the date specilled In the notice, ).ender, at Lender's
<br />option, may dechue all of the sum secured by this Deed of Trust to be Imnadiately due and payable without further
<br />demand and may invoke the power of sale and any other raaedfa permitted by applicable law. Lender shall be entitled
<br />to collect all cow and experaes Incurred In pursuing dw eotue N p raided In this paragraph 17, Including,
<br />but not NoWed to, reasonable attornsys' fees.
<br />It the power of sale to Invskd, Trustee shall record a notice of default In each comfy In which the Property or s®Ine
<br />part thereof Is located and she6 mail copies of such Modee In the manner prescribed by applicable low to Borrower and
<br />to the other persons prescribed by apse law. After the apse of such thaw as my be required by applicable law,
<br />Trustee shall )five public notice of sale to the personal and In the nuannse prescribed by applicable law. Trustee, without
<br />dssand on Boesorror, shall sal the Property at public nuedou to the highest bidder at the time and place and under the
<br />terms designated In the notice of ale In one or men panois and In such order as Trustee may determine. Trust may
<br />postpone sale of all or ropy parcel of the Property by public aneouncoment of the thou and pace of any previously
<br />schadulett ale. Lander or Loader's desllaee say purchase the Property at my sale.
<br />Upon recolpt of payment of the prig bid, Trustee shell deliver to the purchase Trustee's dad conveying the
<br />Property SWC The reeks la In the Trusteo's deed shot be prism facie evidence of the truth of the statements made
<br />. Trustee 11111011 Apply the proceds Of the sale In the following order: (a) to all coots and expenses of the
<br />ale. hichad1W but pelt ROMW to, Trustee's fees actually Incurred of pet more than ............. % of the gross sale
<br />Price, attorneys' fees and casts of title evidescei (b) to all amass secured by this Deed of Trust; and (e) the ex-
<br />cess, If spy, to the person or persons legally oeWW thereto.
<br />IL Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Dad of
<br />Trust, due to seer's breach. Borrower shall have the right to have any proceedings begun by Lender to enforce this
<br />Mod of Trust discontinued at any time prior to the earlier to occur of (if the fifth day before the sale of the Property
<br />pursuant to the power of sale contained in this Deed of Trust or (ii) entry of a judgment enforcing this Used of Trust if,
<br />(a) Borrower pays Lender all sums which would be then due under this Deed of Trust and the Note had no acceleration
<br />occurred; (b) Borrower cures all breaches of any other covenants or agreements of Borrower contained in this Deed of
<br />Trust-. (c) sorv3wer pays all reasonable cxpen s incurred by Lender and Trustee in enforcing the covenants and
<br />agreements of Borrower contained in this Devil of Trust and in enforcing Lender's and Truslcc's remavdics as provided in
<br />paragraph !7 hereof'. including. but out limited to, reasonable attorneys' fees; and 1d) Borrower takes such action as
<br />Leader may reasonably require to assure that the lien of this Deed of Trust, Lender's interest in the t'rolnrty and
<br />Bolrower'sohligalion 14) pay the sumssecured by this Deed of Trust shall continue unimpaired. I'pon such payment :out
<br />cure by tkwowcr, this Deed of 'trust and the obligations secured hereby shall remain an full loree and ctta,*ct as if no
<br />accekeralm Itiki mcutecd
<br />
|