|
85-= 001992
<br />by this Deed of Trust immediately prior to the date of taking hears 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 />i f 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 />1®, Borrower Not Released. 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, Forbearsam by tender 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 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. RemalksComabdve. 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, and may be exercised concurrently, independently or successively.
<br />13• Successors and Assignis Bound: Joint and Several liability; Captious. 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 he 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 previsions hereof'.
<br />14, Notice. Except for any notice required tinder applicable law to he given in another manner, (a) any notice to Borrower provided for in
<br />this Iked of Trust shall be given by mailing such notice by certified mat addressed to Borrower at the Property Addressor at such other address
<br />as fit>rrower may designate by notice to Lender as provided herein, and (b) any notice to Lender steal! 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 Deed of Trust shall be deemed to have ben given to floc re,w rr car Lender when Fiven in the manner designated herein.
<br />IS. Uniform peed of Trust: Governing Law; Severabillty. ']`his form of deed of trust combines uniform covenants for national use and
<br />non- uniform covenants with limited variations by jurisdiction io Conslitilte a lltriform security instrument covering real property. This Deed of
<br />I rust ;hall he governed by the law of the jurisdiction in which the Property is Icxated. Ili itle event that anv provision or clause of this Deed of
<br />Trust or the Note conflicts with applicable law, such conflict %half not affect other provisions of this 11ced of Trust or the Note which can be
<br />glen effect without the conflicting provision, and to this end the provi,u_nns of the IX-ed of Trust and the Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shall he furnished a cont'orened copy of the Note and of this Deets of Trust at the time of execution or
<br />defter recordation hereof.
<br />17. transfer of the Property; Assumption. it ail of ariy mart of the Property of :1rl interest therein is wild or transferred by Borrower
<br />without !.ender'% prior written consent, excluding (al the creat-11 elf it lien or encumbrance mhordinate (to this lid of Trust, ih) the creation of
<br />,1 purchase money security interest for household appliances, it ! ransfer by devise, drs,:cnt or by operalion of law upon the death of a joint
<br />!eFlarit of 3d) the grant of any leaschoid interest of three dears ,�r iess ivar curir,rining an uptic>n to hurchasc. l.cndrt tnay, at Lender's option,
<br />tv 'face ail ttic tums.seiured by this Deed tiFt irtr.st t'rt 1te' itrDPnt;diaeleit dale and payable. I..trider shall flat -e waived such option to accelerate it,
<br />P nor to the .ale or transfer, Lrnder and the per +ors to wh +urn Zile lrrol -wriv� !s to br said or transferred reach avreeinenl in writing; that the credit of
<br />Such persa€t is satisfactory to Lender and that the interest ttayabie on the ,ails secured ha this Deed of lnisi of af; h..., such rat ias leader shah
<br />teyuest. If Lender has waived the option to accelerate provides, in this naiagraph and if Borrower's .uct:e,..!er iii rote *cat ;is e ��ated a
<br />written assumption agreement accepted iri writing by l alter, I rmh7f 4iall release liourt.twer froin all ohhgatioris under this Deed of crust and
<br />;ter tithe.
<br />11 Lender exercises such options to accelerate, 1.zrider .hall 111-21 fioltoA 'r ii .iia_e , -i ,i celrrat!can to acr.srdari,c vial: paragraph 14 heret)t.
<br />°couch ilc,tice shall provide a period of not less than o days trr,iri the" gale !tie :;oll,e i I rn-tied within which liorrt�wer Bray say the sr rirs de,.idtred
<br />fire. it I�irrower fails to pay such sums prior tea the e,xplianon tat "w1l p enfo,!. l.esttSrr n:;iy, without further riottee or deniand ors Borrower,
<br />;FV t)tc any ;eniedics permitted by paragraph 113 heico t
<br />+C)Is - VNIF°0RM1 C 0VFNANTS. Borrower and I colder ftuthr.r ;ratrriant <inil igrze .l toifows:
<br />'a. .%ccekralioa; Remedks, F:acept as provided in paragraph 17 hereof, upon Borrower's breach of anv covenant
<br />or agreement to(
<br />Bewrwwer is thin heed of Trust, ine�lndinit the covenants to pay when due anti suRu secured by this DKd of Trust. Lender to acceleration
<br />prior
<br />mitke to Borrower as provided in paragraph 14 hereof specifying; (I I the breach; (2) tbt action required to cure such breach; i3l a
<br />481t. not less than 30 days from the date of notice is
<br />millkd to Borrower, by which such breach roust be cured; and i4i that failure ter cure such
<br />bmwb eon or before the date gwdf *d is the notice may result in
<br />acceleration of the sums secured by this Oved of 7 ru %t and sale of the Property,
<br />"he " "ball further inform Borrower of the
<br />right to Mandate after acceleration and the right to bring a court action lie► avverl the non -
<br />e thotelsocc of a default or any other defense of Borrower to acceleration and if the breach is
<br />.hark. not cured tin 'or before the date specified in tht
<br />outiore, Leader at Lendeir'% option may declare all of ibe sunset secured be this deed cif I runt U, be lmawdisiri,,
<br />deassud nod clue and payable without further
<br />MAY Invoke the power of sak and say 'Other remetlits permitted b) applicable law. leader shall he
<br />entitled to collect all reasonahic
<br />cojou mod expenses incurred in Pursuing Ibe remedies provided in this paragraph ill. IncludtnK, but not limited to, reasonable atlorne) °s feew.
<br />If the power of akt is invoked, Trtsiee shall
<br />record a notice of default in each county in which the Property err %time part therrof is located
<br />and %W maiii coPurs of swill unlike In the manner by
<br />presocribed applicable law to Borrower and to the other ptrseins prescribed by applicable
<br />bow, .After the of surb bate its may be required by applicable law. I ruhite %hall giye public notice of sal$ Is, the
<br />persons and in the manner
<br />Pteow-ribled by appNelable bow. Trnsliate, wiibout demand on Burrower, %hall %ell Ike Property at public auction to the highni bidder the
<br />And at time
<br />Piece -aid MD&W the terms designated in the nnike of sale In ciao or more 4tarrris and in such order as 1 itisiet may determine, I ru %jrt, ina)
<br />postpone %ak of ail of eon Say of ibe Prn0peny
<br />parcel by public announcemrnl at the time and place tot any preyicrusiy whedufrd sift. I ruder iir
<br />t e 'to desiguge may plerclittift the Property at any %sk,
<br />F; of payment of the prke bid. 1 not te shall dellser too the moot hash i ru.%tet's deed 4 tmvo,lJn the f rrA
<br />€ it parit %old- the recitals in
<br />i fr v be facie, evidence ll
<br />1
<br />off tr truth cif the %lateinents made ihreein. I ru%irr `hall wpplt (he° pr -red, 4 the tale in cite
<br />f eft i *tit"; isl to Oil tgsmmNkbk costs and ea,pen. . of ibe %ale, inc ludilim. Taut "tot limited iu, 1 roister,% Pets
<br />erg norl moor than R',>
<br />cot the Wove e, fralsonslolk stiorweyb few aid ttltatto sit It lie r%idenco, etc! Ito all -cam.% ce % "red It.* Phis forrti atf I mitt; snit it o Ike
<br />its
<br />t a
<br />any ret' it
<br />11w porfulon or peo'con1 legally ratified Ihtreit).
<br />i
<br />14 . BArr€owlrr °%flight to "uslatf, "vttsw,ttt�, ar�E,' .,
<br />vi
<br />f#otw t' F .:y
<br />i
<br />F
<br />
|