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000970
<br />by this Deed of Trust immediately prior to the date of taking bears to the fair market value of the Prope'Fty 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 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 I and 2 hereof or change the amount of such installments.
<br />10. Borrower Not Retraced. 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 Lender 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 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 it) accelerate the maturity of the indebtedness secured by this
<br />Deed of Trust.
<br />12. Remedies Cumulative. 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 Assigns Bound; Joint 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. AU 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 the Property Address or at such other address
<br />as Borrower may designate by notice to Lender as provided herein, and (h) any notice 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 been given to Borrower or Lender when given in the manner designated herein.
<br />15. Uniform Decd of Trust; Governing Law; Severability. This form of deed of trust combines uniform covenants for nationa! use and
<br />non - uniform covenants with limited variations by jurisdiction to constitute a um form 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 be severable.
<br />14. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Deed of Trust at the time of execution of
<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, 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 />dt iare all the sums secured by this Deed of Trust to he immediately duc and payable. Lender shall have waived such option it, 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 used a
<br />written assumption agreement accepted in waiting by Lender, Lender ,hall release Borrower from all obligations under this Deed of Trust and
<br />the Note.
<br />If Lender exercises such option to accelerate, Lender %hills mail Borrower notice of acceleration in accordance with paragraph 14 hereof.
<br />Such notice shalt provide a period of not lest, 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 Ifs hereof.
<br />NON - UNIFORM COVENANTS. Bor €ow'ei and Lender further covenant and agree as follows:
<br />i8. Acceleration. Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of
<br />Borrower in this of Trust, including the covenants to pay when due any sums secured by this Deed of Trust, Lender prior to acceleration
<br />shalt mttli notice to Borrower as provided In paragraph 14 hereof specifying: (1) the breach; (2) the action required to cure such breach: 13) a
<br />dale, not Ism than 30 days from the date of notice is mailed to Borrower, by which such breach must be cured; and 141 that (allure to cure such
<br />breach an or before the In the notice may result in acceleration of the sums secured by this heed of Trust and .sale of the Property.
<br />The notice shadill further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non•
<br />existence of a default or any other defessar of flicrrower to acceleration and sale. If the breach is not cured on or before the date specified in the
<br />notice, Leader at Li 's option may declare all of the sums secured by Ihis Deed of I rust to be iruroedistely due and payable without further
<br />demand and may Invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all reasonable
<br />costa and expenses incurred in pursuing the remedies provided In this paragraph 18. including, but not limited to, reasonable attorney's fens.
<br />if the power of nk is invoked, Trustee I record a notice of default In each county In which the Properly or %once part thereof is located
<br />and shall mail copies of such notice In (he ntanr prescribed by applicable law to Borrower and io the other persons prescribed by applicable
<br />law. After the 11pose of such time as may be required by applicable law, I rust" shall give public notice of sale In the persons and In the manner
<br />precacribed by applicable low. Trust, without demand on Borrower, %hall sell the Property at public auction to the highest bidder at the time
<br />and Piece and Nadu the term designated In the notice of sale In one or more parcels and in such (order a% i rustee May determine. Trumtw Inay
<br />postpone of am or any parcel of the Property by public announcement of the lime and place of any previously scheduled sale. lender or
<br />Lender's decolgam may purchase the property at any sole.
<br />I TPtm WdPi of payment of the price bid, Trustee shall deliver It, the potchasrr 1 rusice's deed conveying the Property sold. I he recitals in
<br />the 1 r '® deed ithaill lee prima facie evidleace. of the Inith (if the slatenrnt% made therein. Trustee shall apply the procerdy of (lie %ale In the
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<br />follow : 4a) to all reacianistible costs and expenses of the sale, including, hul not limited to, I ru.vtre'y fee% of mil more than ° u
<br />' of the gross note price, reastacuslick attorusy'A fees and costs (if title Pvtdeu('e; (I)) to all Rams, %ecurcd ty this Heed (if trust; and it) slip excess, it
<br />Day, if) The perxsa or persona legally entitled Ittefelo.
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