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F
<br />003672
<br />not personally liable on the Note or under this Deed of Trust, and (c) agrees that Lender and any other Borrower
<br />hereunder may agree to extend, modify, forbear, or make any other accommodations with regard to the terms of this
<br />Deed of Trust or the Note, without that-Borrower' s consent and without releasing that Borrower or modifying this Deed
<br />of Trust as to that Borrower's interest in the Property.
<br />12. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Deed of Trust shall be given by delivering it or by mailing such notice by certified mail
<br />addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to Lender
<br />as provided herein, and (b) any notice to Lender shall be given by certified mail to Lender's address stated herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />13. Governing Law; Severability. The state and local laws applicable to this Deed of Trust shall be the laws of the
<br />jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of Federal law to
<br />this Deed of Trust. In the event that any provision or clause of this Deed of Trust or the Note conflicts with applicable
<br />law, such conflict shall not affect other provisions of this Deed of Trust or the Note which can he given effect without the
<br />conflicting provision, and to this end the provisions of this Deed of 1 rust and the Note are declared to be severable. As
<br />used herein, "costs ". "expenses" and "attorneys' fees" include all sums to the extent not prohibited by applicable lasv or
<br />limited herein.
<br />14. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Deed of ]'rust at the
<br />time of execution or after recordation hereof.
<br />IS. Rehabilitation Loan Agreement. Borrower shall fulfill all of Borrower's obligations under any home rehabilita-
<br />tion, improvement, repair or other loan agreement which Borrower enters into with Lender. Lender. at Lender's option,
<br />ma y require Borrower to'execute and deliver to Lender, in a firm acceptable to Lender, an assignment of any rights.
<br />claims or defenses which Borrower may have against parties who supply labor. materials or services in connection with
<br />improvements made to the Property.
<br />16. Transfer of the Property. it' Borrower sells or transfers all or any part of the Property or an interest therein.
<br />excluding (a) the creation of a lien or encumbrance subordinate to this Deed of Trust. (b) a transfer by devise, descent, or
<br />by operation of law upon the death of a joint tenant. or (c) the grant of any leasehold interest of three years or less not
<br />containing an option to purchase. Borrower shall cause to be submitted information required by Lender to evaluate the
<br />transferee as if a new loan were being made to the transferee. Borrower will continue to he obligated under the Note and
<br />this Decd of Trust unless Lender releases Borrower in writing.
<br />If Lender, on the basis of any information obtained regarding the transferee, reasonably determines that Lender's
<br />security may be impaired, or that there is an unacceptable likelihood of a breach of any covenant or agreement in this
<br />Deed of Trust. or if the required information is not submitted. Lander may declare all of the sums secured by this Deed
<br />of Trust to be immediately due and payable. If Lender exercises such option to accelerate. Lender shall mail Borrower
<br />notice of acceleration in accordance with paragraph 12 hereof. Such notice shall provide a period of not less than 310 days
<br />from the date the notice is mailed or delivered within which Borrower may pay the sums declared due. if Borrower fails
<br />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 1 hereof.
<br />Noti- L+'ttotcnl CovennN I s Borrower and Linder further covenant and agree as I llows:
<br />17. Acceleration; Remedies. Except as provided in paragraph 16 hereof, upon Borrower's breach of any covenant
<br />or agreement of Borrower in this Deed of Trust, including Borrower's failure to pay, by the end of 10 calendar days after
<br />they are due, any sums secured by this Deed of Trust, Lender prior to acceleration shall give notice to Borrower as
<br />provided in paragraph 12 hereof specifying: 01 the breach; (2) the action required to cure such breach; (31 a dale, not
<br />less than 20 days from the date the notice is mailed to Borrower, by which such breach must be cured; and (4) that
<br />failure to cure such breach on or before the date specified in the notice may result in acceleration of the sums secured by
<br />this Deed of Trust and sale of the Property. The notice shall further inform Borrower of the right to reinstate after
<br />acceleration and the right to bring a court action to assert the nonexistence of a default or any other defense of Borrower
<br />to acceleration and sale. if the breach is not cured on or before the date specified in the notice, Lender, at Lender's
<br />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
<br />to coiket all reasonable costs and expenses incurred in pursuing the remedies provided in this paragraph 17, including,
<br />but not limited to, reasonable attorneys' fen.
<br />If the power of sale is invoked, Trustee shall record a notice of default in each county in which the Property or some
<br />part thereof is located and shill mail copies of such notice in the manner prescribed by applicable law to Borrower and
<br />to the other persons prescribed by applicable law. After the lapse of such time as may be required by applicable law,
<br />Trustee shall give public notice of safe to the persons and in the manner prescribed by applicable taw. Trustee, without
<br />demand on Borrower, shall sell the Property at public auction to the highest bidder at the time and place and under the
<br />terms designated in the notice of sale in one or more parcels and in such order as Trustee may determine. Trustee mar
<br />Postpone sale of all or any parcel of the Property by public announcement at the time and place of any previously
<br />scheduled sale. Lender or Lender's designee may purchase the Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed comeying the
<br />Property sold. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made
<br />therein. Trustee shall apply the proceeds of the safe in the following order: (a) to all reasonable costs and expenses of the
<br />sale• including, but not limited to, Trustee's fees actually incurred of not more than ...... .
<br />prim reasonable attorneys' fees and costs of title evidence; (bl to all sums sec•urc ' by this Deed of Trust; and (R1t sale ex
<br />eons, if any, to the peesart or persons legally entitled thereto.
<br />IS- Borrower's Right to Reinstate. Notwithstanding Ixnder's acceleration .d the sums secured b% this Deed of
<br />Trust. due to Borrower's breach, Borrower shall have the right to hays any proceedings hegun by Lender to enforc•c this
<br />Deed of Trust discontinued at any time prior to the earlier to occur of (i) tile lifih day be•fole the sale tit the• Prole• -IN
<br />pursuant to the power of salt: contained in this Dccd tit' 'I'rust or fit) eniry of a judgment enforcing this Ueer1 of Trust it.
<br />(a) Borrower pays Lender all sums wiueh would tic then due under this Used of t rust and the Noic had no acceict,il n
<br />"cCUrted; (b) Borrower cures all hrcaches of any other covenants or agreenx•nts of Itnrnrwcr' cunuthmrl in thus Uee•d of
<br />Trust; (c) But'rower pays all reauvutble C%lw•nu•s incurred by Lender and Trustee m enforcing the covenants and
<br />agreXmeratI, of lir,rruscer conrnti lot d to chit Ueed of I rust and in entorcntg 1A'nder's and I rustec's lclllcthcs its proylde,d m
<br />paragraph I" '"cut. iucluding fills not limited to. reasooahle attorneys Ices. and Ids Rorro„er takes such ,tenon .n
<br />Idndcr nwy rcatonahh require t„ axurc that the bun nl this Dccd .0 bust. I"Ildcr , m ±hc
<br />Itorrn cr's ohltitaiuue to pay the by fills Uced u1 I rust 01,111 —nruiur unnnl,snc,1 I I,��ri •,,r. h p.nmrnl and
<br />—ire in li �rt, r t tr, I7 +•! d „I I l u,l and fill.- obls altons seemed he r, h
<br />g lieu.,. ni.:in In hull
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