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<br />by this Deed of Trust immediately prior to the date of taking bears to the fair market value of the Property 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 para>, aphs 1 and 2 hereof or change the amount of such installments.
<br />ifi. Borrower Not Relaxed. 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. Forhemance by Lender Nola 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 to 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 bylaw or equity, and may be exercised concurrently, independently or successively.
<br />13. Successors head Aesigns 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 iflc 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 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 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 feed 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; Severablfity. 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 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 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 />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 un 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 />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 declared
<br />due. If Borrower fails to pay such sutras 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 />7
<br />NON- UNIFORM COVENANTS, Borrower and Lender further covenant and agree as follows:
<br />Ill. Acceleration, Remedies. Except as provided In paragraph 17 hereof. upon Borrower's breach of any covenant or agreement of
<br />Borrower in lhle Deed of Trust, including the covenants
<br />to pay when due any sums secured by this Deed of Trust, lender prior to acceleration
<br />shelf mail notice To Borrower as provided in paragraph 14 hereof sPecifylnit; (1) the breach; (2) the
<br />action required to cure such breach; (3) a
<br />rate, nM lees than 30 Clays from The dale of notice is mailed to Borrower, by which such breach must be
<br />cured; and (4) that fallure to cure such
<br />breach on or before the dale specified In the notice may mull in acceleration of the sums secured by this Deed of Trust
<br />sled sale of the Property.
<br />The notice sly further inform Borrower of the right to minsale after acceleration sad the right to bring
<br />a court action to assert the non-
<br />existence of a default or any other defense of Borrower to scceleration and suit. It the breach is Rol cured on or before the date
<br />specified in the
<br />notice, Leader at Lender's option may declare an of the sums secured by this Deed of Trust to be Immediately due and payable without further
<br />demand and may invoke The power of sae and nay Other remedies permitted by applicable law. leader shall be entitled to collect all reasonable
<br />costs sod expenses Incurred an Pursuing the remedies provided In this paroltraph 18, Including, but not limited lo, reasonable attorney's fees.
<br />If the pawm of saie Is Invoked, Trustee shall record a notice default
<br />of in each county in which the Property or some parr Thereof Is located
<br />and shd MOM copes of acb aotke In the manner by
<br />prescribed applicable law to Borrower and to the other persons prescribed by applicable
<br />t Isw, After the lapse of each line ere ram be
<br />� y required by spplkable low, Trustee shell glue public notice
<br />of sae to the persons and in Ike manner
<br />PftwribOd by aPPNC"ie law. TrwMe. wNhoul demad on Borrower, shall sell Ike Properly
<br />sl public auction to the highest bidder al the time
<br />a" piece sod under the temp designated In the notice of sale In one or more panels and In such "1'raslee
<br />order as Trustee may determine. mey
<br />Postpone mis of aN or say pascal of the Property by public announcement at the time and place of nay
<br />previously scheduled sale. Lender or
<br />Leader's dedgest may pturelosse the Property, at any sae.
<br />tlpoe receipt of pyneN of the price bid, Trustee shall deliver to the purchaser 'T'rustee's deed conveying the Properl) sold. 'f he mltsfs In
<br />Ile Trustee's deed"he Prins rode evidence
<br />of eke fruit' of the statements made therein. Trustee shat) apply the prtnceds or the sale In the
<br />foNowholog order: (s) to AN fdmeuahke cosy and expenses of the sale. Including, but not limited
<br />Poor
<br />lac, f rusice's fors of not more than . _ �'o
<br />Of the grows ale Pike, sltarney's fees and cosy of 011ie evidence; Ill) In all sums soured by this Dred
<br />of trust; and (c•) the excm, if
<br />any, to the person es I.""" legally entitled therein.
<br />19. Borrower's Right nn Relowlefe. Notwithstanding Lender', t ccrrrat . I the snots seined by this Used rat I rnsl. Itol ""C' .hall hole
<br />!tic tight al have any pra•eediugs hegurl by I..ender lac enforce this Uce,.l 1,
<br />sI
<br />nl rl Jr.:,nnlnueJ al nn Inns hluu I„ rho c;u her I .,con al ill the
<br />of ,
<br />fifth day hefrire the sale of the Properly pllrttnlnt to file power d s,dP urnnitncd Irk Ills peed
<br />al iletllt'nl
<br />17uV
<br />Cntr
<br />IN UI UU inter rat d Ills
<br />t terd I,I Irtlii It'. (a) Ifol t'n.cl pay91. Crider dil %tun, wllt, Is ml id he Ihen title' t'n'I't Ills I)ved of 1 :ti't, ,Ili 'I" ,,III! 1,I "c' ".'II, Ing I unifc
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