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by 001.923
<br />this Deed of Trust immediately prior to the date of taking bears to the fair market value of the Property immediately rior
<br />taking, with the balance of the proceeds paid to Borrower. p to the date of
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the
<br />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
<br />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
<br />writing, any such application of proceeds to principal shall not extend or postpone the due
<br />date of the monthly installments referred to in
<br />paragraphs 1 and 2 hereof or change the amount of such installments.
<br />10. Borrower Not Released, Extension of the time for
<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 and
<br />Borrower's successors in interest. Lender shall not be required to commence proceedings
<br />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
<br />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
<br />Deed of Trust. the maturity of the indebtedness secured by this
<br />12. Remedks 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 taw or equity,
<br />and may be exercised concurrently, independently or successively.
<br />13. Successors and Assigns Booed; Joint and Several Liability; "the
<br />Captions. covenants and agreements herein contained shall bind, and
<br />the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br />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 />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 by
<br />given 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
<br />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
<br />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
<br />manner designated herein.
<br />1S. Uniform peed of Trust; Governing Law; Severability. This form of deed of trust combines
<br />uniform covenants for national use and
<br />non - uniform covenants with limited variations by jurisdiction to constitute a uniform
<br />security instrument covering real property. This Deed of
<br />Trust shall be governed by the law of the jurisdiction in which file Property is located. In the event that any
<br />Trust
<br />provision or clause of this Deed of
<br />or the Note conflicts with applicable law, such conflict shall not affect
<br />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
<br />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 se erable. 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
<br />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
<br />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
<br />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
<br />such option to accelerate if,
<br />prior to the sale or transfer, Lender and the person to whom the Property is to be
<br />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
<br />this Deed of I rust ,hall he at such rain as Lender shall
<br />request. If Lender has waived the option to accelerate provided in [his paragraph 17, and if Borrower's
<br />successor in interest has c .- ,cured a
<br />written assumption agreement accepted in writing by Lcnder, Lender shall release Borrower from
<br />the Note. all Obligations under this (lest( 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 less
<br />of not 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
<br />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 a, follows:
<br />13. Acceleration; Remedies. Except as provided In paragraph 17 hereof, upon Borrower's breach or any covenant or agreement of
<br />Borrower in thin Deed of Trust, including Ike covenants
<br />to pay when due any sums secured by this Deed of] rust, leader prior to acceleration
<br />shall mail notice to Borrower as provided is paragraph 14 hereof specifying: I II the breach;
<br />date, not (2) the action required to cure such breach; (3) a
<br />lilac 30 days from the date of notice Is mailed to Borrower, M which such breach
<br />must be cured; and (4) that failure to cure such
<br />bfmh on or before the date spedned to the notice may remit la acceleration of Ike sutras secured by
<br />px notice shall further this heed of Trust and sale of the Property.
<br />Inform Borrower of the tight !o reinstate after acceleration and the
<br />existence of a default or right to bring a court action to assert the non.
<br />or any other dtitase of Borrower to accelerntlon and sale. If the breach
<br />is not cured on or before the date specified in the
<br />ROOM Lender at Leader's option may declare all of the sums secured by this heed 'Trust
<br />of to be immediately due and payable without further
<br />demand and may Invoke The power of Oak and any other remedies permitted by applicable law.
<br />Lender shall Iyr rnlHlyd to collect all reasonable
<br />casts and expenses incurred is pursuing The rettto dice provided in This paragraph 18, including, but not limited to,
<br />If
<br />reasonable attorney's fees.
<br />the power of sale Is Invoked, Trustee shall record a notice of default in each county in which the Property
<br />or some part thereof is located
<br />and shall mail copies of such notice In the manner prescribed by applicable law to Borrower and to the other persona prescribed by applicable
<br />tow. After the lapse of such time as may be
<br />required by applicable law, Trustee shalt give public notice or ark to the persons and in the manner
<br />prescribed by applicable law. Trustee, without demand on Borrower, %hall sell The Property
<br />at public auction to the highest bidder at the lime
<br />and phwe and under the terms designated In the notice of sale In one or more
<br />parcels and In such order as I ru. %tee may determine. I rusice may
<br />Postpone sale of an or any pared of the Property by public announcement Of the tine and
<br />place of any previously scheduled sate. Leader or
<br />Lender's designer may purchase the Property at any sale.
<br />Upon receipt of paymenl of The price bid, Travtce shall deliver at the purchaser I rumee's deed convey Ina the Praprrty sold. I'he recitals in
<br />the Trustee's deed shall be facie
<br />prima evldeace of the truth of the stuiemrol% fade Ihrrein. Trustee shall apply ter prrxreds u! the vale in lily
<br />following order: (e) la ai, remauable caste and expenses of the sale. Including, but not limited
<br />L
<br />pp
<br />to, Ira »lee'% fees 401 not more than Ra
<br />of the gross sale price' reasonable ellarney,% fees and costa of title
<br />4 1
<br />rvitlencr; (h) to OII sums secured by Ibis I11erd Of trust; and Ica the r %seas, If
<br />any. To the prrwDn o► persons legally entitled therclu.
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<br />19. Borrower's Right In Reinsiale. NI Iwuh,tau 1n y I cndi r ,!,;, ,r , ail. um.
<br />?hr ni(YI' r,l ha%e t , +I Ilu Rol
<br />n,a cl .hall h,lr
<br />any prmeedlugi begun by I.tndtl flu Ike. ,I r. l.....utlnu I,u Ins blur;!( ull�,
<br />'Itch d,r� feforc the sale ref the I'rolwrty pur%uam III stn. "f ,i
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