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85--nt 004917
<br />9. Coadea"b& The proceeds of any award or claim for damages. direct or consequential, in connection with any
<br />condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid to Lender.
<br />In she went of a total taking of the Property, the proceeds shall be applied to the sums secured by this Deed of Trust.
<br />with the excess. if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, there shall be applied to the sums secured by this Diced of Trust such proportion of the proceeds
<br />as is equal to that proportion which the amount of the sums secured by this Deed of Trust immediately prior to the date of
<br />taking bean to the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br />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
<br />an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date such notice is
<br />mailed. Leader is authorized to collect and apply the proceeds. at Lender's option, either to restoration or repair of the
<br />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
<br />or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of
<br />such initallntents.
<br />10. Borrower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br />proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums
<br />secured by this Deed of Trust by reason of any demand made by the original Borrower and Borrower's successors in interest
<br />11. Forbearance by [.ender Not a Waiver. Any forbearance by Lender in exercising any rght or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy
<br />The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not he a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Deed of Trust.
<br />12. Remedies Cwmalsitive. All remedies provided in this Deed of Trust are distinct and cumulative to any other right
<br />or remedy under this Deed of Trust or afforded by law or equity, and may be exercised concurrently, independently or
<br />succeutivW
<br />13 and Antigua Bound; Joint and Several Liability; Captions. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph )7 hereof All covenants and agreements of Borrower shall be joint and several
<br />The captions and headings of the paragraphs of this Deed of Trust are for convcmencc only and are not to be used to
<br />interpret or define she provisions hereof.
<br />14. NoKee. 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 Trost shall he gtccn by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />(b) any notice to Lender shall be given by certified mail, return receipt requested, to Lender's address stated herein or to
<br />such other address as lewder 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 />15. Unifona Deed of Trast; Governing Law; SeverabBNy. This form of deed of trust combines uniform covenants for
<br />national use and non- uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument
<br />covering real property. This Deed of Trust shall he governed be the law of the jurisdiction in which the Properiv is located
<br />In the event that any provision or clause of this Deed of Trust or the Note conflicts with applicable law, such conflict shall
<br />not affect other pprrovisions of this Deed of Trust or the Noic which can be given effect without the conflicting provision.
<br />and to this end t!e provisions of the Deed of Trust and the lots are declared to be severable.
<br />14. Borrower's Cory. Borrower shall be furmshed a conformed copy of the Note and of this Deed of Trust at the time
<br />of execution or after recordation hereof.
<br />17. Tronster of the property. Asuw rim. If all or am part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lenders prior written consent, excluding ta) the creation of a lien or encumbrance subordinate to
<br />this Deed of Trust, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise.
<br />descent or by operation of law upon the death of a )cunt tenant ,r r d) the grant of any leasehold interest of three %ears or less
<br />not eontainint an option to purchase, Lender may, at Lenders option. declare all the sums secured by this Deed of Trust to he
<br />immediately due and payable. Lender shall have waned such ntton to a:cclerate it, prior to the sale or transfer. Lender
<br />and the person to whom the Property is to be sold or transferred reach agreement :n writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on the sums secured by this Deed of Trust shall be at such rate as
<br />Under shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if Horrower's successor
<br />in intent has executed a written assumption agreement acccptcd to writing by Lender, Lender shall release Borrower from
<br />all obligations under this Deed of Trust and the Note.
<br />If Lender exercises such option to accelerate. lender shall marl Borrower nonce of acceleration to accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of noi less than 30 days from the date the notice is mailed within
<br />which Sorrower may pay the sums declared due. If Borrnwcr fads to pad such sums prior to the expiration of such period.
<br />Lender may, without further notice or demand on Borrower u..,d.e any remedies permitted by paragraph 18 hereof.
<br />NON. UNIFORM COVENANTS. Borrower and Lender further a,venant and 'agree as follows.
<br />IL Acceleration; Rtwedies. Except as provided in paragraph 17 hereof, upon Borrowers breach of any covenant or
<br />agreement of Burrower In this Deed of Tram, including The covenants to pay when due any sums secured by Ibis Deed
<br />of Trull, Lender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the
<br />breach; (2) she action required to cue such breach; (3) a date. not less than 30 days from the date Ike notice is mailed to
<br />Borrower, by which such breach must be cured; and W) that failure to cure such breach on or before the dale specified
<br />is The notice way resat in acceleration of the sums srcurvd by this Deed of Trust and sale of Ike Property. The notice
<br />shall farther inform Borrower of the right to reinstate after acceleration sod Ike right to bring a court action to assert
<br />she soot- eaiskoce of a default or any other defense of Borrower to accekralioa and sale. If the breach k not cured
<br />an or before the date specified in The notice, Lender at Lender's option may declare all of Ike bums secured by this Drcd
<br />of Trim to be hawedisltly due and payable without further demand and nay invoke the power of safe and any other remedies
<br />peroi ed by applicable law. Leader shall be entitled to collect all reasonable toms and expenses incurred in pursuing the
<br />rea selies provided In this paragrapb 16, Including, but not limited to, reasonable anoror%'s fees.
<br />It eke power of sate Is intesked, Traslee "I record a notice of default in each comfy in which the Property or sonic
<br />poll 0=01 k ZIIN and shall nag copies of such notice in Ike manner prescribed by applicable law to Borrower and to the
<br />other persons proscribed by apphicahk hw. After the lapse of such lime as may be required bs applicable law, Trustee shall
<br />is pib!ie asek of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on
<br />Burrower. shah sell the property at piblk auction to the highest bidder of the time and place and under the terms designated
<br />in the notice of safe in one or more parcels and in such order as Trustee may determine. Trustee may postpone sale of all
<br />or my parcel of the Property by public announcemeal at the lime and place of any previously scheduled sale. lender OF
<br />lenders designer may purchasr the property at any ark.
<br />Upo1s receipt of payment of the price bid, Trustee shall delhtr to the purchaser Trustee's deed conveying the Property
<br />soul. Tht recitals In the TruNee's deed sW be prima facie evidence of ebe truth of the statements made therein. T ru%lrc
<br />mnatl apply the proceeds of the sink its the fallowing order: la) to all reasonable costs mad expenses of the sale, Including. but
<br />aaf link" so, TraAee's fees of nut more than 1, of the gross sale price, reasonable attorney's fees and costs of
<br />aide evidtncq (b) N all bums secured kw fhb Detd of T'nutt and (c) the excess. If any, to the person or persons letally entitled law
<br />/berate.
<br />19. Borrower's Right to RtInmate. Notwithstanding Lender's accelerarton of the sums secured by this Deed of T ru.t
<br />Borrower shall have the right to have any proceedings begun by tender a) enforce this Deed of Trust discontinued at
<br />any time prior to the earlier to occur of tq the fifth day before the sale of the Propene pursuant In the power of sate contained
<br />to this Deed of Trust or pr. entry of a judgment enforcing this Decd of Trust if (a) Borrower pa%s Lender all sums which would
<br />he then due under this Deed of Trust. the Note and nott% wcor ng Future Ad%ance%. if any h„d no aecelerauon ocs'urted tD�
<br />(b) Borrower cures all breaches of any other covenants ter agreements of Borrower contained to this Ikcd of trust
<br />(e) Borrower pays all reasonable expenses incumd by Lender and Irusnec to enforcing the sn%rnenl% and agreements of
<br />Borrower contained in this Direct of Trust and m enforcing 1 ender'+ and Trustee's remedies a% prrn tdcd in paragraph l o -
<br />hereof, including. but not limited to. reasonable attorney's fee%. and its) Borrower takes such acorn as I ender mat rra%,.naht,
<br />regtnre to assert that the lien of On Deed of Trust. Lender's tmcreo in the Propem and B))ri ..er's obligao.m n, ;, ,
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