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85-o 004788
<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 Leader's option, ether 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 />N. On auto Not Rdmased. 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. Forboweem by Lenbr 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. Rome" Consultative. 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 bylaw or equity, and maybe exercised concurrently, independently or successively.
<br />13. Sueeorns and Asdps sound; Joim and Several LlabiNty; 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 tender 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. Uniform Dead of Truro; Governing Law; Severuld ity. 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 arc declared to be severable.
<br />Ia. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Shed of Trust at the time of execution or
<br />after recordation hereof.
<br />17. Transfer of the Property; Amem ni", 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 suburdinate 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 stuns 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 feed 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,+ecuted a
<br />written assumption agreement accepted in writing by lender, Lender shall release Borrower from all obligations under this Deed of "(rust and
<br />the Note.
<br />If Lender exercises such option to accelerate. I ender 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 nonce 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 erg hereof.
<br />NON- UNIFORM COVENANTS. Borrower and Tender further covenant and agree as follows;
<br />Is. Accolon tiara; Rial"ls. Except ns provided in paragraph 17 hereof, upon Brrower's breach of any covenant or agreement of
<br />Borrower Is Nit Dead of TrnN, Including the covesamta to pay when due may tam secured by this Dar of Treat. Lender prior to acceleration
<br />sW WAN satire so Rorrones ns woo in paragryh 14 berrof specifying: 11) the breech; (2) the action required to core sack breach; (3) a
<br />&*. nor Win Nun 30 days how the hale of notice Is nailer to Borrower, by wbkk such breach most be cured; Mull (4) that failure to care such
<br />bow b tla or befan lie dw spire I" 'IN the aetice Noy result In Acceleration of the soon second by" Deed of Trust and sole of the Property.
<br />The netin doll fasther I oew sorrow" of the fight to reinstate after o ceierati®w sod the right to bring a court Acton to am the son.
<br />ribMnn of a dollook or Say oiler f wsa of sorrower W aoniel tioa ail silk. if the branch is net cored on or before Ike date specified is the
<br />notice. Leader at fender's opYas coy dselmre ail of the cans second by this (leer of Trost to be imne"kiy due and payable without further
<br />tkmtwd and Noy fmvobe the power of mete and may mete( nobdfn peopled by applicable law. Leader sW be eadded to collect sN reasonable
<br />cub and espunm lneueM is pt waWg the reNdke provider N this paragraph IS, including, but not Moiled to, reasonable allwmey's fees.
<br />If Ne power of seek is imwOW. Trnsbe sheet crew✓ a oodee of defeuit In tech couNy In wbkb the Property or some part thereof 6 located
<br />mM Shall more ta/tm of such so" In the wanner proscribed by applicable law to Borrower mad to the other persons preocribed by applicable
<br />law. AIM the lope of sub tlwa ns may be ► II" s by -1 im',ahk low. Trustee sheet ve
<br />Ill Public aatice of ask to the persons and In the manner
<br />0 e A y apgpille" law. Trion. wMbow boa W as sorrower, shah sell the Property at Public sration to the bigbest bidder at the time
<br />and calm net under lie bows dmlpwsd In the notice of rile in one or more parcels and in suck order w Trustee say detenMnt. Trustee may
<br />postprne safe of net of nay pond M the Property by pab ik mmaonmeeuueet at the time Mad
<br />I.sder's Maipse my pltadinse Nor NK* of May previous!) sehdrted seek. Lender or
<br />Praprty N sty Belk.
<br />t)p" r#edpo et p i - of lie poke had. Trim** eW tleMver on the parchoer l rasko's deer conveying the pro"") "W. The reel" in
<br />the Trouble's bad shall be prima ranee evWwp of the lruth of the stAtemesu mde ttnerein. Trustee shah apply The proceeds of the sale in Ike
<br />L fallowing wbr 480 M AN traasuabfa to is and expnsw of dim sde. Including. but sot Ntmileil to, T wstee't fees of not more than 3 00
<br />of lie wg oak prim. tonese M offa swill few Mod costs of title rvldewir; (h) To all sums secured by info Deed of Trust; sod oel Ike excess, If
<br />may. to lit person w pwmons legally estitisd thereto.
<br />N, h -0000 s plfgbl N Xd@mlNe. Notwithstanding I rndcr's a -tiv a , to „t IIII, Y,,ro, Ye,:I1I ed 1>v Iht, herd rat F, 111 li,un.wel shall hacr
<br />the tight [o have sny proceedings begun by Lender to rol"4'e this Ikrd .,h i nI,I d"'onununh aI env firm poor III the rarbrt to ,N Cott It W :!x
<br />Wilt do before the oak of the Pfoperty purtoant to the, fwwcr of +ale r,nna+nril In this Dee.l rt trust •.,I rot rntr -n o! a Iodgnxv:I .•nl „r :,rip ,r.,. .
<br />I Mesf of Truss if la) hofrowei pays I cruder all rums which would hr O'CII :Sur w'de• ihI. Iserd „! 1 "I.t_ '.!I, tint✓ ref !n (e -•r. unn� I IC „r
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