|
1
<br />00030—,
<br />by this Deed of Trust immediately prior to the date of taking bears to the fair market value of the Property immediately pnorYo 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 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 l and 2 hereof or change the amount of such installments,
<br />10. Borrower Not Rdemid. Extension of the time for payment or modification of amortization of the sums secured by this Deed of Trust
<br />granted by Lender 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 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. Forbearance 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 ur 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 maturity of the indebtedness secured by this
<br />Deed of Trust.
<br />12. Remedies Cu ataBve. All 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 be exercised concurrently, independently or successively.
<br />13. Successors and Asslipts Bound; Jolat 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 tire Property Address or at such other address
<br />as Borrower may designate by notice to Lender as provided herein, and (b) any vonce 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 beer, gi yen to Borrower or Lender when given in the manner designated herein.
<br />15. Uniform Deed of Trust; Governing Law; Severabifity. 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 law, 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 he severable.
<br />16. 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. 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, ib) 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 riot containing an option to purchase, Lender may, it Lenders option,
<br />declare all the sums secured by this feed of Trust to he immediately due and payable. Lender shall nave 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 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 Borrower's successor in interest has c- cured a
<br />written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligations under this Deed of Trust and
<br />the Note.
<br />ff 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 perie.i 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 +itch 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 />Ill. Acceleradols, Reminfies. Except as provided In paragraph 17 hereof, upon Borrower's breach of any covemusl or agreement of
<br />Borrower in ibis Deed of Tract, including the covenants to pay when due any sums secured by this lied of Trust. Leader prior to acceleration
<br />shall mail notice to Borrower as provided In paragraph 14 hereof specifying: (1) the breach: (2) the action required to cure such breach; (3) a
<br />deft. not km than 30 days from the date of notice is mailed to Borrower, by which such breach must be cured; and (4) that failure to care such
<br />breach as or Were the daft specified in The notice may result In acceleration of the sums secured by this Deed of 'rrml and sale of The Property,
<br />further tarttgra Borrower (of the right to relomtale after acceleration sad the right to Ming a court action to asorre the non -
<br />of a default or my other defeme or Beffovm to acceleration and male. If the breach in not cured on or before the date specifled in (be
<br />Leader of 's option may Mare an of the sums secured by this Deed of Trust to be Immediately due and payable without farther
<br />demand and y Invoke the power of sale and any other remedies permitted by applicable law. lender shall be entitled to collect all reasonable
<br />c "PMM kciurred in the remedies provided in ibis paragraph 18, incladiag, but not limited to, reasonable attorney's fens.
<br />if thir power of Oak is Invoked. Truarier shaill record a notice of default in each county In whlcl, the Property or sotnt part thereof Is located
<br />of such notifice in the minaw prescribed by applicable law to Borrower and to the other persons prescribed by applicable
<br />law. After the lapse of such time as any be required by applicable haw, T %hail give public notice of salt to the persona and in gist manner
<br />prescribed M sppNcabk law. Truant. wilbout demand on Briff0weT, shad? Sell the Pr y at public auction to The highest bidder at the time
<br />and place and under the terms desigrattled to the of sale in loop or rime parreTs •ad in such order as l rustre may dtiermlae. Irustec may
<br />PB$tVGM "110 of IM of any parcet of the Property by public a art nt at the 'tear and piece of any previously scheduled sage. Lender or
<br />1 's designer may puntam the property at any ink.
<br />Upris receipt of payment of the lids Tromwe stiall detive? in rw• part he-mr I rustee S deed conveying the Property bold. 1 he recitals In
<br />i 'f 'a deed Rho be prime f t,f the irath o! Ilye emetic"" of theret ". i- russet shall apply the proceeds of the sail in 'he
<br />f : (a) to ON mateenablet t std espeoveyot, the sa.e, Imfirding, free not linwied lo, l ruslee•S ten if not "tore than
<br />of t b y fV„ Ss 'r title rviletr; It1 Ida nil mama secured by ills IDted of Irnsl; and Ic) lift rxces8, Il
<br />) ?
<br />$ )
<br />goy, to the Privse of person leiiarlb r theme.
<br />T }. '% Right gR9 Reinstate, "acem::haiaatlLl 1p l :Pl) 3.. C: I.0 IIYIti .(Y litt't) h\ , ill, I)cl',I ,iI ) 1111( li,.l I l'f ,ilFlll 11.Iy('
<br />f
<br />•'le fltthl If h,tvr in, f"(s eP dlnpv t1,Vun !y i eruicl, it, t;P lie`lk ri I _ It II,Ite,l I ,W% I 'Ill : i f" IliC "o 11 ('I 'I,f �.! III 1111`
<br />i
<br />sS'�i?
<br />IEfh. 1a I Ikn ,Ak "I fhb' Pt "M. M tW15,1 all I ": the ,wralr t .14, P' , i 1, o •,. 1 lira I)—d cl 1 fuel f th"
<br />bga'tt .rl t'S! >I I? IR) il4,aef+ ra ;,av, ( `siti£f 0 w,! ,r , .,�. '.•f 't hl. 14 f :'1i ,f f I1�t, (h( 'v , ,. ,. , .1. I I`lk { lfl tit i'
<br />
|