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by this Deed of Trust immediate) 00.1722
<br />y prior to the date
<br />ofg 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
<br />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
<br />or to the sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing,
<br />any such application of proceeds to principal shall not extend or
<br />t date of the month) installments referred to it, - postpone the due
<br />y paragraphs I and 2 hereof or change the amount
<br />of such installments.
<br />10. Borrower Not Released. Extension of the time for
<br />;
<br />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
<br />manner, the liability of the original Borrower an d
<br />Borrower's successors in interest. Lender shall not be required to commence
<br />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
<br />reason of any deman
<br />and Borrower's successors in interest. d made by the original Borrower
<br />11. Forbearance by Lender Not s Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded
<br />by applicable law, shall not be a waiver
<br />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
<br />Deed of Trust. to accelerate the maturity of the indebtedness secured by this
<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,
<br />and may be exercised concurrently, independently or successively.
<br />13. SucctmOm and Assigns Bound; Joint and Several 1.fabflity;
<br />Captions. The covenants and agreements herein contained shall bind, and
<br />the rights hereunder shall inure to, the respective successors and assigns of Lender
<br />and Borrower, subject to the provisions of paragraph 17
<br />hereof. All covenants and agreements of Borrower shall be joint and several. 'The
<br />captions and headings of the paragraphs of this Deed of Trust
<br />art for convenience only and are not to be used to interpret or define the hereof.
<br />provisions
<br />14. Notice. Except for any notice required under applicable law to be given in another
<br />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
<br />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
<br />a, 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
<br />or Lender when given in the manner designated herein.
<br />1S. Uniform Deed of Trust; Governing Law; Severobility. This form of deed trust
<br />of combines uniform covenants for national use and
<br />non - uniform covenants with limited variations by jurisdiction to constitute
<br />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
<br />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 Trust
<br />of 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
<br />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
<br />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,
<br />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
<br />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
<br />payable. Lender shall have waived such option n, 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
<br />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
<br />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
<br />the Note. from all obligations under this Deed of Trust and
<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
<br />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
<br />invoke
<br />notice or demand on Borrower,
<br />any remedies permitted by paragraph 18 hereof.
<br />T ^� _ NON - UNIFORM COVENANTS. Borrower and lender further covenant and agree as follows:
<br />►8 — 'neceraaiwut ilimi�ia: Facia -i
<br />as P''iu a tie K
<br />Borrower to this Deed of Trust, including the covenants yaw
<br />--
<br />top when any '-ums secured by this Deed of Trusst'f ender prior o acrelera Inn
<br />shall "" notice to Borrower as provided In parag raph 14 hereof of specifying: (I) the breach; (2) the
<br />dale,
<br />not leas Than action required cure such breech; (J) a
<br />3g days from the date of notice le mailed to Borrower, by which such breach must be cured: and (4) that failure to
<br />breach OR or before the date
<br />cure such
<br />specified In the notice may result In acceleration of the sums secured by this Deed of Trust and sak of the Properly.
<br />The mutter s1I fmtther inform Borrower of the right to reinstate
<br />after acceleration mead the right to bring a court action (o rssert the non-
<br />exbtence of m default or any other defense of Borrower to acceleration and sale. If the breach is nor
<br />cured an or before the date specified in the
<br />notice, Lander at Lender's option may declare an of the sums secured by this feed of Trust to be Immediately
<br />dot and payable without further
<br />demmand sad may imvukc the power of ask ab any other remedies permitted by
<br />applicable law. Lender shall be entitled to colleen all reasonable
<br />costa aW expenses Incurred In pnrsWng the remedies provided in this paragraph 18. including, but not limited
<br />If
<br />lo, reasonable all rnry's free.
<br />the power of ssk is Invoked, Trustee shall record a notice of default in each county in which the Property or some part thereof is Ineated
<br />a sisR mail copies of such motkr in the mmaaer prescribed by
<br />applicable law to Borrower and to the other persons prescribed by applicable
<br />law. After the lap" of such time as may be required by
<br />Prescribed by ihe low. 'tnug", without demand on Borrower, sholl$wllll (hr PrnprrtyatcP muffler of.look Wk hrthe
<br />auc9i n to the�nlgkrst bidder
<br />°� piece and under the terms red In the notice of sale In one or time
<br />more parcels and in such order as Trustee may determine. 'I rustee Insy
<br />We of an or say parcel of the Property by public announcement at the time
<br />'s
<br />1 and place of ony previously scheduled sale. fender or
<br />designer may purchase the Property at any sale.
<br />t.!pon etertpt of payment of the prtt'e bid, frustee shall deliver In Ihr purchaser 1 runlet's deed conveying the Property sold. The retain!'- In
<br />the Iralowe'a deed sW be points lack evidence of the truth of the
<br />statements made thereln. rrustee shall apply the pren�eeds of he rate in (he
<br />rotiowing order: (al to sN costa smd expenses of the sale, Including, bit
<br />not limited to, I ruMrre'r Errs of not more than
<br />"t the groan $ale ,
<br />ressommilk aUOtitled free clams of title evidence; (h) In all sulnr secured by this Deed of I rust: end Icl the exr", If
<br />any. to the peraao w► IrgNly entitled
<br />4
<br />thereto.
<br />o.
<br />IM. Rarruwer'x Bight to Reinstate, Not wi l hit it till i n I endii t Ici aiioo nl t III, •nun
<br />,n ui •d he •fns Ihrd ni ,hall has,•
<br />rile, inch[ (u hiae,P any no tw.'c+edtngs Grgun by I ender I. er for c thiv Ihcl .d I n,•I
<br />I tn1, IhI—,
<br />cis.. -nnnuell 1 :nu mite , , , •i,
<br />Hirt ,Jay bff €,ie the sale of the Pro city ursudnl it) the uri ,il •nIc r. nt urrd n, ter I�,, t h�•r , , • , ,I I„ tl,�
<br />o
<br />Deed u! 1n,si ,f iwf liorrnwrr
<br />If
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<br />pays I. ender off vuln, wrucIt "mid he Ihr., h,. ,u,.... .,. !a'r,l .,t I nnt.:h, �„„ r,
<br />., '�•, i—w I ow,
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