|
65-- 0048`?2
<br />by this Deed of Trust immediately prior to the date of raking 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 Leader 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 />30. Borrower Net Reldaad. Extension of the tithe for payment or modification of amortization of the shins 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 succeswa In interest.
<br />It. Fwbenrssre by Lefler Not a waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded
<br />by applicabk 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 lit= 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. Bo=dies Cnmobdve. 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. gnomon sad Adelpd Boead; JaW sail Somed 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 catveniwtoe only and are not to be used to interpret or define the provisions hereof.
<br />14. Ne lm. 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 Tent 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 />13. Usiftem Devil at True; Goversdq Law; Severabilky, This form of deed of trust combines uniform covenants for national use and
<br />can - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. This Dad 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 />If. Da on'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 rwordalion hereof.
<br />17. Tnnefer of On Property; Aswaption. If all or any pan 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 he 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 ^xured by this Deed of Trust shall be 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 executed 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 nonce 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 1 B hereof.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agice as follows:
<br />Id. AOOeIMwe/t Remedies, F.acW as provided IN porognpb 17 hereof. upon Borrower's breech of nay cowenul or agreemnat of
<br />Do won its Ob Deed of Tart, Iododiog the covsawats to pay when doe say sum wend by this Deed of Tell", Leader prior to acceleration
<br />armN mod netlss N 30 *will es prowldd in paragraph 14 bereof specifying: (1) the breach; (2) the Nellon r peke a I a can such Mend; (J) r
<br />dote. eat him Yma 30 days from the dale of notice is maim to Borrower. by which link breach Irnst be owed; sad (4) that faawe to can such
<br />beeseh M w bdhle tfse 4" *OdnW Ice 11110 @Ode* my nwk IN WeeNsstfan of the was nerved by irk [Ned of Trust aced eak of the Property,
<br />The aeMa WNA fanber ideno Borrower of the right to roladlrte after aeaiwaslea and the roil to Meg s eoMt whom to ossta- the *on_
<br />adit a of a I I '" w asy otbw d eaes Of BoI'TO" to woolevoll" and mile. If the I I , Is net ChM as or before the due spedfkd in the
<br />news. L Ndw 11111,410111101"0 opws may declare ON of ire weer, nowed by this Deer of Trrlot to be imrrMwly do and payable widwat further
<br />dmmod sold mg inwero rte reww of We and sax' other noddles permitted by apaNeable law. Leader died be ensiwd to eoaac ON r"mowble
<br />eeNd sad eqp ft maw" is pared" tbo tstase amu pol Is thk pmrognpb 111, herivillaa, Wilmot Naked to, roeosobk.honey's fees,
<br />It 00 power of ak IN iswokd, Trwbe "N neon a mode* of sWeseh Is woh coomty In wYkh the Property w wend k located
<br />� led
<br />mid lima NO copies ef curb atrMee is tb maaow INmo, d by oppksbk law to So 0-01 ad to the other by
<br />by
<br />pethe
<br />kw. After do'@pee ef osek Mme ns My be egeslM by appNcabk law, Trwtee shed TO pa e! p rho" aid
<br />to the penes. and is The
<br />a mod er
<br />r
<br />pesesMd h UlNMsMe law. Tromso, whboet doawnd on Borrower, $"N ail the t OW
<br />P►eperty k petbae rncties to the Mgbesl biller at the tilor
<br />d he flaw
<br />dN p� eM hla/w � W� dmyaued is The new F of ale its am or loon porssid sad IN with order ns Trtsstee may dete also. Trustee may
<br />peww irk of IN w may gored ef the Property by pals k also"nemeot at tie Mate and place or say pnw1cooly acbedaied ak, leader or
<br />Leader's ilewpoo cup panaoo do r am elf N may ale.
<br />Upw eeMM N WmeN of Nil pia Md. Trimme shod dowel to IN porehtrw'Trlrsss's deed Conreyhg the Property wW. The recitals in
<br />Ire Trmtee's dad shill be prima hoe ewidwes of she troth of lbe Nnsemwn rode be at . Tnoles AM apply the proceeds of the ark In the
<br />haowiog orlw (o) la oil reeaerNk soda rd espendes ef the ark. Indedlsg. tot not Nmkd to. Triietee's lna of wt men tbao ?'s
<br />L
<br />_.__.3
<br />of ore
<br />Mess tole peke, rMNMbk mtlo""$ few ad cow of title evUeass; (Ill to aN solos wand by Ibis Deed of Trot, sad (c) Ike excess, If
<br />a". to it* pans w paeeasa rimy, anMAed Monte.
<br />n.
<br />It. 1Nwft Of"I apt y I
<br />Rigbs N1rMadlate. Notwilhtirndir Lender acceleration of the Burns secured b this Used of Trusd. Homswer t.lail have
<br />±
<br />uh(
<br />the right to have any proceedings begun by Lender to enforce this shed of Trust discontinued at anytime prior to Ilse eariler to ov, lit rat eft) the
<br />s'
<br />firth day before the sale of the Progeny pursuant w the power of sane contained in this Deed of Trust or tl;) entry of a hudgnlent rnforiinii iho
<br />Deed (if Two If is) bovrtmer pays Lender 61) sums 40101 would he then due under ,his liee(i'If 11114t, the \,1!e atld nwet %r,ullltg l'wtor
<br />
|