|
by this Deed of Trust immediately prior to the date of taiittg bears to the fair market value of the Property immediately prior to the date of
<br />takW& with the balance of the proceeds paid to Borrower.
<br />If the Property is abandoned by Borrower, or if, after notice by Leerier to Borrower that the condemnor offers to maize an award or settle a
<br />claim far damages, Borrower fails to respond to Leader within 30 days after the date such notice is mailed, Lender is authorized to collect and
<br />_ apply the p teoseds. at Lerdcr's option, eitber to roatoracion or repair of the Property or to the stems secured by this Deed of Trust.
<br />Unless Lander and Borrower otherwise agree in writing, any such application of proceeds to principal shall not extend or postpone the due
<br />due of the oouddy instaftesents referred to in paragraphs I and 2 hereof or change the amount of such installments.
<br />)R. borrow Not Nisansd. Extension of the time for payment or modification of amortization of the sums secured by this Deed of Trust
<br />granted by lender to may successor in inurw of Harrower shall not operate -,a :o release. in any manner, the liability of the original Borrower and
<br />Borrower's stsomisots in interest. Leader shall not be required to commence proceedings against such successor or refuse to extend time for
<br />ptdrmren or otherwise modify amortization of the sterns secured by this Deed of Trust by reason of any demand made by the original Borrower
<br />and Bor'rower's so cetsfors in interest.
<br />11. Fmiatanns by leader Not a Wslvm. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded
<br />by appliabie lave, shad not be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance or the payment of
<br />taus or otter liens or charges by Lender shall not be a waiver of Leader's right to accelerate the maturity of the indebtedness secured by this
<br />Deed of Trust.
<br />12. Beal" Cou dwive. All remedies provided in this Dad of Trust are distinct and cumulative to any other right or remedy under this
<br />Deed of Trust or afforded by law• or equity, and may be exercised concurrently, independently or successively.
<br />13. Successors mod Assigns Maori: Jaat and Several UNIM y: Captious. 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. Marine. 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 Trout 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 tee ?*
<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 Dad of Trust shall be deemed to have been given to Borrower or Lender Len given in the manner designated herein.
<br />15. Ungera Deed of Trust; Governing Law; Severability. This iarm of deed of =sttst combines uniform covenants for na..onal use and
<br />non- uniform covenants with limited variations by ;urisdicsion 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 />16. 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 ta) 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 />unaat or (d) the grant of any leasehold interest of three years or less not containing an option to purchase. Lender Wray, 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 />sigh person is satisfactory to Lender and that the interest 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 %Tltrr :g by Lender. Lender shall release Borrower from all obligations under thjs Deed of Trust and
<br />the Note.
<br />If Lender exeruss such option to accelerate, Lender 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 notice is mailed within which Borrower may pay the stuns declared
<br />due. It' 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 />13. Aeoitream Umatilla. Except as provided is paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of
<br />But woo its this Dar of Trout, laclading the covenants to pay when doe any suer secured by this Deed of Trust. Lender prior to acceleration
<br />shod anvil notice to Borrower as provided is paragraph 14 hereof specifying: il) the breach: (2) the action squk to tare each breueh; (3) a
<br />dale, sal bra Warr 30 days from the bate of watlee is sanded to Borrower, by wbkb such breach new be cored: and (4) that failure to care such
<br />breach a or before the ate specified is the notice may result in acceleration of the same secured by this Deed of Trust and sole of the Property.
<br />The sties shat further inform Borrower of tie right to mis stale rafter acceleration and the eight to bring a court actor to snerl the noa-
<br />oduse re of a tldasN or my other ddesee of Borrower to acceleratlea and sale. It the breach is *ot tarred on or before the ate spedned in the
<br />stet., . Lmsdar at Lesdrr's option my declare all of the sou secured by this fled of Team to be immediately due sod psy"k without farther
<br />damned sM may bnvohe the rower of rain and any other remedies permitted by applicable law. Lender shall be a added to collect ail reasonable
<br />calls
<br />and espowm Incurred is panel" the rtrmaik provider Is this paragraph 13, inclu ding, but act limited to, neasouabk attorney's ken.
<br />If she V~ of oak Is lovehad. Trustee shad record a aodm of default in each county in which the Property or some pat thereof b located
<br />and and seo copias of teach *soft in the mouser prescribed by applicable law to Borrower and to the other persons prescribed by applicable
<br />law. Affair the lapse of such toe as may be rewired by applicable law, Trustee shat give public notice of ale to the persons tad In the woner
<br />p 1 by apl cabk low. Troster. without demand on Borrower. sW all the Property at pow section to the highest birder at the their
<br />as/!!Baer tie/ atsda► for Mans dssYguttted to for *etke of tale lo one or came psro . and is such order as Tr man o sy determine. Trustee may
<br />pttdpase ask of sir or my parcel of the Property by public asuouseemeat st the toe and place of any prmioush scheduler sale. IRoder or
<br />leagues Msiven may purchase the Property at any ask.
<br />Upon tvaw' , of peyon st of the price bid, Trustee shall deliver to the p*rchis er Trostee's deed conveying the Property sold. The red sh in
<br />Or Trwssae't do" dine he prima tack evidetare of the truth of the ttaletmeats wade therein. Trustee And apply the proceeds of the sale in the
<br />letiswtag order gal to all rassoode coats mod rip eases of the ask. Includwg. hat not dmited to, Trustee's tees of not meter than _,` _ "e
<br />of of yea "In per• roasom"Ir otuwlwy's fees sad costs of title evidence: (b) to sill teen severed by this heed of Trust; mod (ci the r7ir i• if
<br />sax, to br /mean or p rsons legally entitled thereto.
<br />19. Borrower's Right to Reinstate. `latwii ho h f)d;nx Lender', avc;6r_t al,on of the .rtnn .c, ut-t f+v thu Dyed of 17U1t, liouo%er .hall ha. r
<br />the r4M to he" any Mtxeedintty hetun ray t ender to enimce thug lkrJ ni 1 i LiMt Jrcontinued is am !torte ro0: hr ca r;srr I .n f Nc
<br />fifth saev trtfore the sal!,.f tau P,c,,TvT1 P..rwnnt tV ttie p)wet if gale tr,rtta,ieed sn this itoci: ,,r Irue at tidi vi, _ a Lidginrnt - ut ni,
<br />Deed tt !rust :) Su) B(tr +twee pa" irmirf' ail'wil, whld) xuo.ld 1w +hCn a+t under iha D "d M T?ao hr :at: _f ! .
<br />I
<br />
|