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not personally liable on the Note or under this Deed of Trust, and (c) agrees that Lender— 1575
<br />and any
<br />hereunder may agree to extend, modify, forbear, or make any other accommodations with regard to the terms 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 Borrow'er'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 />Borrower provided for in this Deed of Trust shall be given by delivering it or by mailing such notice by certified mail
<br />addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to Lender
<br />as provided herein, and (b) any notice to Lender shall be given by certified mail to Lender's address stated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />13. Governing Law; Severability. The state and local laws applicable to this Deed of Trust shall be the laws of the
<br />jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of Federal law to
<br />this Deed of Trust. In the event that any provision of- clause of this Deed of Trust or the Note conflicts with applicable
<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 />conflicting provision, and to this end the provisions of this Deed of Trust and the Note are declared to be severable. As
<br />used herein, "costs ". "expenses" and "attorneys' tees" include all sums to the extent not prohibited 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 Deed of Trust at the
<br />time of execution or after recordation hereof.
<br />15. Rehabilitation Loan Agreement, Borrower shall fulfill all of B obligation
<br />rehabilita-
<br />tion, improvement, repair or other loan agreement which Borrower enters into with Lenders . 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, or
<br />by operation of law upon the death of a joint tenant, or fc) 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 Lender 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 Trust unless Lender releases Borrower in writing.
<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, Under may declare all of the sums secured by this Deed
<br />of Trust to be immediately due and payable. if Lender exercises such option to accelerate, fender shall mail Borrower
<br />notice of acceleration in accordance with paragraph 12 hereof. Such notice shall provide a period of not less than 30 days
<br />from the date the notice is mailed or delivered within which Borrower may pay the sums declared due. If Borrower fails
<br />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 17 hereof.
<br />NONUNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />17. Acceleration; Remedies, Except as provided in paragraph 16 hereof, upon Borrower's breach of any covenant
<br />or agreement of Borrower In this Deed of Trust, including Borrower's failure to pay, by the end of 10 calendar days after
<br />they are due, any sums secured by this Deed of Trust, Lender prior to acceleration shall give notice to Borrower as
<br />Provided In paragraph 12 hereof specifying; (1) the breach; 121 the action required to cure such breach; (3) a dale, not
<br />Ins than 20 days from the date the notice is mailed to Borrower, by which such breach must be cured; and 141 that
<br />failure to cure such breach on or before the date specified in the notice may result in acceleration of the sums secured at
<br />this Deed of Trwl and sale of the Property. The notice shall further inform Borrower of the right go reinstate after
<br />acceleration and the right to bring a court action to assert the nonexistence of a default or any other defense of Borrower
<br />to acceleration and sale. If the breach Is not cured on or before The dale specified in the notice, Lender, at Lender's
<br />Option, may declare all 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 sale and any other remedies permitted by applicable law. Lender shall be entitled
<br />to collect all reasonabie costs and expenses incurred in pursuing the remedies provided In this paragraph 17, including,
<br />but not limited to, reasonable attorneys fees.
<br />If the power of sae is invoked, Trustee shall record a notice of default in each county In which the Property or some
<br />Part thereof is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and
<br />to the other persons prescribed by applicable law. After the lapse of such time as may be required by applicable law,
<br />Trustee shall give public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without
<br />demand on Borrower, shall sell the Property at public auction to the highest bidder at the time and place and under the
<br />tetra designated in the notice of sale In one or more parcels and In such order as Trustee may determine. Trustee may
<br />Postpone sale of all or any parcel of the Property by public announcement at the time and place of any previously
<br />scbedued sale. Lender or Lender's designee may purchase the Property at any sale.
<br />Upon receipt of Payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the
<br />Property sold, The recitals in the Trustee's dad shall be prima facie evidence of The truth of the statements made
<br />therein''I'rmlee shall apply the proceeds of the sale In the following order: (a) 10 all reasonable costs and expenses of the
<br />sale, including, but not limited to. Trul tee's feet actually incurred of not more Than
<br />Price, reasonable attorneys' fees and costs of tide evidence; (b) to all sums secured b this o ' ' ' t," of the gnss safe
<br />test, if any, to the person or pesos legally entitled thereto. y d of Trust; and Icl the ex
<br />IS- Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this lend of
<br />Trust, due to Borrower's breach, Borrower shall have the right to have any proceedings begun by Lender t, enfi,rre this
<br />Deed of Trust of iscontintied at allv time prior to the earlier to occur of li) the fifth day helilrc the sale of the Property
<br />Pursuant to the power of sale contained in this Deed of Trust or iii) entry of a judgnfent enti,rcing Ibis Deed uf'frusl if:
<br />(a) Borrower pay% (ender all cants which would be then clue under this Deed of 'Trust and the Note had no acceler:uhlo
<br />occurred; (b) Borrower cute% al, breaches of any other covenants or agreelnenl% of f)orrow,•r contained in Ihis 1)cc•oi of
<br />; (C) Burrower pays all reasonable expenses incurred by Lender and Trustee Ill entbrcint; the• covenants and
<br />agreement" ap 7 Ferro wtY l'1111fa1r1l.'1f it' this Deed of Trll %I and III CIIfOR'Int: iA'lldel '1 :unl fnurce's remetilra as pro; ulyd in
<br />paragraph 17 hrreot. including, but not limited to, reasonable :dtornvvs' lies, ,dud Ietl Borrower takes such actual
<br />"elldct ma} rr.asun :mbl)' reolulre to assure rllat the lien of flits Deed .,(1ru,f. I')d W)s trroNke rn Jac itil.1rll laid
<br />ft{trmwer's ship aeon In pay the sums secured by tho. bred of I rust shall cnnnnue lunrnpatred f pon such pal nleftl and
<br />cure I,v Borrower, f)ns ih ='d If l'ru %t and Ihr obligsllon%'.ecurt'd hcfehs .hall reftlaidt ill !till lore %' and cRecl ;n tf nu
<br />acceleratlon had sMrurred
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