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<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 installments referred to in paragraphs 1 and 2 hereof or change the amount of such installments.
<br />10. Borrower Not Rekaaed. 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 be a 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 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 Riven in the manner designated herein.
<br />1S. Uniform Deed of Trust; Governing Law; Severability. 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 />after recordation hereof.
<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 />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 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 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 he at 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 assumpt.cr, 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 13 hereof.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />18. Acceleration; Remedies, Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of
<br />Borrower in Ibis Deed of Trust. Including the covenants to pay when due any sums secured by this Deed of Trust; Lehr
<br />shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action required to curere ueh breach; (3) a
<br />date, not less (ban 30 days from the date of notice is mailed to Borrower. b which such breach must be cured; and (4) that failure to cure such
<br />breach on or before the dste specified in the notice may result in acceleration of the sums secured by this Deed of Trust and sale of the Properly.
<br />The notice $W further Inforas Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non -
<br />existeace of a default or any other defense of Borrower to acceleration and salt. If the breach is not cured on or before the date specified in the
<br />notice, Leader at Utuder's option may declare all of the sums secured by this Deed of Trust to be immediately due and payable without further
<br />demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all reasonable
<br />costs and expenasa Incurred In pursuing the remedies provided in this paragraph 18, including, but not limited to, reasonable attorney's tees.
<br />if the power of sale le invoked, Trustee shall record a notice of default in each county in which the Property or some part thereof is located
<br />NM shaft mall copies of such Notice IN the manner prescribed by applicable law to Borrower and to the other
<br />law, After the lapse of sub time as may be required by applicable law, 'trustee shall Rive public Noeke of sale te�i shorts prescribed by applkablc
<br />Prescribed by applicable law. Trustee, without demand on Borrower, shall sell the Property at Public auction to the errs highest bidder teethe manner r
<br />and place and under The terms designated in the notice of sale in one or more parcels and in such order as auction
<br />ionnter may determine. r at the time e
<br />Postpone sale Of all Of ANY parcel of the Property by public announcement at the time and place of any previously .scheduled sale. bonder or
<br />l.eNder'n designer may purchase the Property at any sale.
<br />Upon receipt of Payment of the price bid. 'trustee shall deliver to the ltorchaser I russet's deed conveying the Property sold. The recitals in
<br />the trustee's deed shall be prima tack evidence of the truth of The statements made therein. "Trustee shall apply the proceeds of the sale in the
<br />following order: (a) to alt reasonable costs and expenses of the sale, including. but not limited to, 'trustee's fees of not more than
<br />(Of the g► sale price. reasonable attorney's fees and costs of title evidence; ih) 141 all sums . b
<br />urwl y thin (teed of I rest; and ic) the evc rss, ii'
<br />say, I0 the Person or persons legally entitled therrlo.
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