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003018
<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 du
<br />date of the monthly installments 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. 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 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 bz 2 waiver of Lender's right to accelerate the maturity of the indebtedness secured by this
<br />Deed of Trust.
<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, and may be exercised concurrently, independently or successively.
<br />13. Successors and Assigns Bound; Joint and Several Liability; 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
<br />are for convenience only and are not to be used to interpret or define the provisions hereof. of Trust
<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 her,.., 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 />IS- Uniform peed of Tract; Governing Law; SeverablHty. 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
<br />Trust shall be governed by the law of the jurisdiction in which the Property is located. In the event that an 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 this
<br />hich 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; 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 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 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 ma y, at Lender'; 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 be 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 Deed of Trust shall beat such rate as Lender shall
<br />request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has c-.,�cuted a
<br />written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligations under this Deed of Trust and
<br />the 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 the 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 />NONUNIFORM COVENANTS. Borrower and Lender further covenant and agree a follows:
<br />18. Acceleration; Remedke. F-Xcept as
<br />provided in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of
<br />Borrower in this peed of Trust, including the covenants to pay when due
<br />any sums secured by this Deed of Trust, Lender prior to acceleration
<br />shall mail notice to Borrower as provided In paragraph 14 hereof specifying: (1) the breach; (2) the action required to
<br />date. not kart than 30 days from the date
<br />cure such breech: (3) a
<br />of notice is mailed to Borrower, by which such breach must be cured. and 14) that failure to cure such
<br />breach on or before the date specified In the notice may result in acceleration
<br />'the
<br />of the y. sumo secured by this Decd of Trust and sale of the Propert
<br />notice shah farther inform Borrower of the right to restate after aeleration and the right to bring
<br />existence of a default cc
<br />a court action to assert the non -
<br />or any other defer of Borrower to acceleration and sale. if the breach is not cured on or before the
<br />Holies, Lender at Leader's option may declare
<br />all of the sums secu date specified in the
<br />demand and may invoke fif red by this Deed of 7 rust In be immediately due and payable
<br />The power of sale and
<br />without further
<br />any other remedies permitted by applicable law. lender shall be entitled k, collect all reasonable
<br />costs and expenses incurred in pursuing the remedies provided in this paragraph Ill, including.
<br />if the
<br />but not limited to, reasonable altorne }'s fees.
<br />power of uk Is Invoked, Trustee shall record a notice of default in each county in which the Porn
<br />and shall mall copies of such notice in the manner prescribed by
<br />Property or some part thereof is located
<br />applicable Jaw to Borrower and to the
<br />Borrower era
<br />haw. After the lapse of such time as may be rewired by applicable law, 7 prescribed by applicable
<br />rusiee shall n ltice of sale it) sons
<br />prescribed by applicable law. 'Trustee, without demand on Borrower, shall sell the manner
<br />Property at public auction to the highest bidder atethe time
<br />and piece and utter the terms designated In the notice of sale in one or more parcels
<br />t in
<br />and such order as 'i ruslee may determine. 1 rustce enM)
<br />,tale of all or any parcel of The Property by public announcement at the time and place of any prevfourl,
<br />Lender's nee may purchase the Property
<br />at any sale. scheduled sale. Lender or
<br />l' fR of Payment of the bid,
<br />price Trustee shall deliver to the porchat rr I FU.%Ite'.w Bred con `eying the 1 "rr►prrty scald. I he recitals
<br />the 7 s shall be prima tack orldence of the Truth of the in
<br />.stater „ruts made Therein. fruvtee shell apply the pees °eed of the set t
<br />f wing older: (a) Ip all bk cysts and expenses of the, ale, including, but not limited to,
<br />Of the Pau sale
<br />f
<br />TruAlee'k fors of uol more tharr
<br />Pike- reasonable attorney 's fees and costs of title evident ;chi to) ell %less secured by this Dred of Trust: uur) ac) the
<br />coy, re, the pe ,n or persons legally entitled thereto.
<br />19. ftrrrower's Right In Reinstate. Notwil h0aildifig l f."nl1Cf '� its, 1, t'it's
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