|
85-- 002487
<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 instalments referred to in paragraphs 1 and 2 hereof or change the amount of such installments.
<br />10. 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. Forbemrnsre by L ndi r 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 otter 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. Ress dlis CovAdsdve. 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 Andsm bound; Joint and Several 1.1aMtity; 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 the 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 Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Vultures Deed of Tram; Governing Law; SeveraMNty. 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; Aasttsspdon. 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 app)iam %, (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 he 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 this Decd of Trust shall be at such rate as Lender shall
<br />request. It Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has c,,ecuted a
<br />written assumption agreement accepted in writing by lender, Lender shall release Borrower from all obligations under this Deed of Trust and
<br />she 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 [tie sums declared
<br />due. If Borrower fails 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 18 hereof.
<br />NON- UNIFORM COVENANTS. Borrower and Lender further covenant and agree w follows:
<br />18. Acceleration; Rerntsfias. Eaeepl as provided in paragraph 17 hereof. open Borrower's breach of may covenant or agreement of
<br />Borrower In this Dad of Trial, Including the covenants to pay when due say sums secured by this Deed of Trnst, Lester prior to ucceirrsllas
<br />IW msb notice to borrower as provided In paragraph 14 bereot specifying: I l) the breach; (2) the action required to care such breach; (3) a
<br />deft. not its tins 30 days from On dose of notice is mrdled to borrower, by which such breach mat be erred; sod (41 that failure to cure such
<br />bench on or before the dose specified In the oodee my result is acceleration of the soil secured by This Deed of Trust and sak of The Properly.
<br />The nstia eluasl father berm borrower of the right to reinstate after acceleration and the right to bliss a court action to awned the non-
<br />of a deltndl or asy olh r defetae of Born~ to occolention soul std. If The breach Is not cored an or before the date specified in the
<br />Leader of l.euder's opfos may declare all of the sans secured by this teed of Trust to be immediately due and payable without further
<br />dlfmNd and my iayeke Me petrel of mk and pry other remedies prrmitted by applicable law. lender sw be entitled to collect all reasonable
<br />e end eapinaes Incurred M prtrsning she reedit provided In this psrsgraph 18. Including, but not limited to. reasonable attorney's feel.
<br />It 00 pwssr of Oak is invoked. T- won shed record a notice of default In each county In wMch Ike Properly or some part thereof is ietcaled
<br />Niel 00 sash espies of Mash wiser Is the Iwnef proscribed by applicable law to borrower sad 10 the other persons prescribed by sppticshk
<br />lair. After due lopse of will dew as in ty be rstiohsd by opplicalsis bow. Trustee d" give
<br />sifternihod by ppMsabk her. True, widrettt I a lots borrower, std tell The Property a®Tke of tole He the persons bid In tie manner
<br />topiMy st putsMc auction to the MlgMtl biller at tM time
<br />tad Nat' easel oNse the Ierrns desiprosM in the notice of sok in one or more Parcels and in such order es Trustee may determine. Truster may
<br />postpone snide of all or aq parcel of she Properly by pow announcement at Ike lime and
<br />Landsr's dupes easy pn�se da Neer of any prcvtermsly, srhrdukd !ode. I.roder or
<br />property al may elk.
<br />I `fn rapt of PSYSW M of Of price Md. TrusNe *Yell driver to the port hater T'rustee's deed con veyl the Property sold. the rmliam in
<br />the -frusswo dad #Mob be pdm fade erhNrles of the truth of the statements made IberNa. '['roster shell apply the proceeds of the seek in the
<br />followasS oldest (a) let ON rsnsonmbie eeW and expenrt of the sale, lnciodios, Not not limited 14). "f rueter's fever of not more than
<br />of ells ron ode price. resoop" atlorsity's fees and costs of tide ev we; th) to all sot" xcmtvd by this lived of iru*I; end Yrl the esreas, if
<br />tray, ft the poises or por"" I"* Therein.
<br />I1, 's PW to RehsMSq, Notwithstanding I ender + acceief d I I i }n , r the saint' sttiwrd by tins
<br />l�cd Ol fowl itt nuaei ,hall l+:esc
<br />t* ttafrt Ve, have tiny pMttr itgts begun by I ender to rnfmcc titer oec:9 ,il I I i,t t1;r, oil unoed at .env tittle pt1tu I the either I .... c,...I 1 1 the
<br />t4th tiny Nrtme the sale of the Property pwstiant u, the rkrwcr of 'Air omiamed in tens [ Weed tee Dens! yr u,) cnifv .,I it olds n_t ❑, , n1 „tr: g Ih„
<br />) .ai of Indsf ell (r) Lortower pay% I.etidet all 'lien% whi, h would Pr ilirn n,;e ni'dvt ties Pef,l of ! rot I ih,t N.,te ami :i,• ”, wmg I wmc
<br />
|