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r� 001464
<br />by this feed of Trust immediately prior to the date of taking bears to the fair market value of the Pro ediatel
<br />taking, with the balance of the proceeds paid to Borrower. Y prior to the date of
<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 Rokesed. 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 Loader Not a Wsdver. 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 to accelerate the maturity of the indebtedness secured by this
<br />Dad of Trust.
<br />12. Remedies CumuWive. All remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this
<br />Dad of Trust or afforded bylaw or equity, and maybe exercised concurrently, independently or successively.
<br />13. Successors and Bound; Joint and several Liability; Captloas. 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 trail 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 snail, 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 io Borrower or Lender when given in the manner designated herein.
<br />IS- Uniform Deed of Trust; Governing Law; Severabiaty. 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 ply vision, and to this end the provisions of the Deed of Trust and the Note are declared to be 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 corsent, 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 />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 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':cuted a
<br />written assumption agreement accepted in writing by Lender. Lender shall release Borrower from all obligations under this feed of Trust and
<br />the Note.
<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 de-lared
<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 />18. Acceieraaon; Romedlel. Except as provided In
<br />Borrower fa 1� Dead of Trull, Including the covenants to pttrmgrapb 17 hereof, upon Borrower's breach of any covenant or agreetnenT of
<br />SW mEa notice to Borrower m pay when due any sums secured by this Deed of Trust, fender prior to acceleration
<br />Provided fa Pmragrapb 14 hereof specifying: (1) the breach; (2) the action required to cure such breach; (3) a
<br />dsle, not ku sun 30 days from the dale of notice is Staffed In Borrower, by which such breach trust be cured; and (4) that failure to cure such
<br />lrrptcY tic or before the date
<br />Inform specified IS the f The may resell" ta mccefenaaon of the sums secured by [his Deed of Trust and sale of the Properly.
<br />line notice s further luf�l Borrower of the tight to reinstate offer acceleration and the right to bring a court action to assert the non -
<br />exbtence of a default or may ollm r defense of Borrower to mcceferuaon mad yak. If The breach le not cured on or before The date specified In the
<br />notice' Leader at [.el'der's option my declare all of the sums secured by this Deed of Trust to be immediately due and
<br />demand meld any invoke Ike power of sue End Say other remedies payable without further
<br />costs fwd expenses Incurred In permitted by Eppllertble taw. lender shall be eotltkd to collect all reasonable
<br />If the Pu/suK the remedies provided In this paragraph 18, Including, but not limited lo, reasonable attorney's fees.
<br />power of sue is hyoid, Trustee sbul record a notice of default In each county to which the Property or some part thereof is located
<br />and $ball coPW of Inch notice in lie manner prescribed by applkabk law to Borrower and to The other persons prescribed by applicable
<br />law. After the lapse of such time M Easy be required by Applicable how • Trustee shall rive public notice of sale to the persons and In the manner
<br />prescribed by applicable low. Trust, without demand on Borrower, shall 'wit the Properly at public auction to be higitcai bidder at the time
<br />and place and under the term deoi Mid to the notice of gait In one or more parcels and in such order a% Trustee may determine. Truster may
<br />Peollsome sue of as or emy Pmrcel of The Property by pubic annuuncemeni st The lime and place or any previously wheduled sale, bender or
<br />Lender's daaleEae may purchase the Property al may sink.
<br />Upon receipt of paytla M of the price bid, Trustee shall deliver to the purchaser Trustee's deed convening the Property sold. The recitals in
<br />the mMS or tied slyq he Prim tack costs and expenses of the trutb of the statements made therein. Trustee shall apply the prrucreds of the sale in the
<br />►oBow� order: U► e, m namable coals sad and c xf the seek, including, but not limited to, Trustee's fee%of not more than __ j_ u•s
<br />of the 'be seek Price, reasonable personal Y entitled fees and eosts of title evidence; th) to all sums secured by this (teed of 1'ru%,. and (c) the excess, if
<br />any' to 1� person or peesoue fe8uay adlfea Ihtrttu.
<br />19. Borrower's RI&M Ire Rciustak. Notwithstanding I_ender', accrlcrat on rat the ••ulln secured hV rill' Deed rat i rus(. Rot nnooi 'hall ha,e
<br />rtw r ilhi in have any proceedings begun by I. ender to, enforce 1111, Deed nl t rwo 1L•,contmued at env lime luwr fo 1hr rarlu•1 1., 1•,_ru1 ul tit file
<br />fifth day trocforc the sate of the Propetty pursuant lac the power nl •,ale ;:umalned .n Zhu Deed cl Il,is1 ter In) e•ntn r.t a ludpul, tat valor mg fill,
<br />lkcd of Trust if la) Borrower pays I_Cndet oil surrm which would h, 'he" due under 1h1s I,rest :,I i nn1. 1hr tv'o10 :acid 1, ,
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