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85-006147
<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 If
<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 alter the date such notice is mailed, Lender is authorized to collect arid
<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 />I 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 Released. 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. Forbowawe 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 he a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this
<br />Deed of Trust.
<br />12. Rome" Cumulative. All remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this
<br />Dad 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 Liabillty; 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 I"
<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 he 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 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 />14. 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 />after recordation hereof.
<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 Decd 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 volci or transferred reach agreement in writing that the credit of
<br />such person is satisfactory to Lcnder and that the Into I payable on the sums secured 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 fender, 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 mall 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 18 hereof.
<br />NON - UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />18. Acceleration; Remeedles. Except as provided In paragraph 17 hereof, upon Borrower's breach of say covenant or agreement of
<br />Borrower In this Deed of Trust, Including the covenants to pay when due any sums secured by this Deed of Trust. Lender prior to acceleration
<br />shall wall notice to Borrower a provided In paragraph 14 hereof specifying: (1) the breach; (2) the action required to care such breach; (3) a
<br />date, not lea tYsa 30 days from the dale of notice Is mailed to Borrower, by which such breach must be cured; and (4) that failure to cure such
<br />Mach on or War* the date specified in the notice may result In acceleration of the suns secured by this Deed of Trust and sale of the Property.
<br />The, no" sMB further Inform Borrower of Its right to reinstate after acceleration and the right to bring a court action to nose" the nun -
<br />eaiatenn of a defaull or nay other defense of Borrower to acceleration and sale. It the breach Is not cured on or before the date specified in the
<br />model. LeaderN Lender's option may declare all of the sums secured by this Deed of Trost to be imnwdlaleiy due and payable without further
<br />demoml and any invoke the power of oak and say other remedies permitted by applicabk law. Lender shall be eatilled to collect ail reasonable
<br />costs sad eapensa hocurred In pursuing the remedies provided In thin paragraph 18, including, but not limited lo, remsonabk altorney's tees.
<br />If the power of ask is Invoked, Trustee shall record a notice of default In each county to which the Property or some part thereof is located
<br />and shall 00 copies of such notice in the mummer prescribed by applicable law to Borrower and to the other persons prescribed by applicable
<br />hw, After the Impee of such time a may be required by applicable low,1'rustet shall give public notice of sale to Ike persons and in the manner
<br />pnserlMd by applYemble low. Trustee, without demand on Borrower, shall sell IM Property M public auction to the highest bidder at The time
<br />mad plate amd stroller tint forms dadmlod Is the notice of look In one or more parcels and In such order as Trustee may determine. Trustee may
<br />poeipoms seek of all or any parcel of the Properly by public announcement at the flow and place of any previously scheduled sale. Lender or
<br />Uader's desfgtlee stay purchase the Property at any sak.
<br />Upon rn*W of paymral of the price bld, Trustee shall deliver Ito the purchaser Trustee's deed conveying the Property sold. The recitals in
<br />L.. the Traake's deed strait be prime fmck evidence of the truth of the slaitmenis made Iherein. 1'ruslee shall apply the prKeeds the sale in the
<br />following order: (a) to all reasonable costs and expenses of The sale, including, but not limited to, T'rustee's fees of not more than !._ "'o
<br />crf the pass oak price, reasonable ollormry's fees and costs of title evidence, IN Ito all sums sec•ureit by Ihis Deed of Tntst; and (c) the r%cess, it
<br />may, to the portion (n persons legally entitled thereto,
<br />lw. Bnrfowlr'r Night to Reinstate. Nor Is ilhsidndmg Lcodet's iI,LCIeIalI'm of Ilic un , se, un;d ht 111 is Decd of 1 I it, I, Bnrrowcr shit 11 hair
<br />Itie Itghr ui have nnv pnx:ccdmgs hrltun by I ender Io enforce Ihh i)e•ed ,II I III0 d Ill I Hit nna•d 11 am inns III oI the eatIV[ Io.niut „I Iii Ihr
<br />IIftli slay herore Itie ,air „f Ihr•. Ill uperIN Imrsuaw I Uu• ill wel Ill sale ,onuuned nI t lit l Ilet•d d I IU +I .n I,I) cf,I ,.I ,I wdgincnl vilIm,nl)z Iln,
<br />ireeel or Srucl ,l i.,I It.,rI("vr I'll r, I rmirI .III ,urns ,hn h A"I'l,I hi- !hen ,tile umiet Ills Irer.l n I I "I ,, %ow and nnlrr 'r• unng I um,r
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