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85-001192
<br />9. Condemnation. 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 the event 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 Deed 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 bears 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, Lender 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 installments.
<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 Lender Not a Waiver. Any forbearance by Lender in exercising any right 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 be a waiver of Lender *s
<br />right to accelerate the maturity of the indebtedness secured by this Deed of Trust.
<br />12. Remedies Cumulative. 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 />successively.
<br />13. Successors and Assigns 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 17 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 convenience only and are not to be used to
<br />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
<br />Borrower provided for in this Deed of Trust shall be given 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 marl, return receipt requested, to Lender's address stated herein or to
<br />such other address as Lender 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 />IS. Uniform Deed of Trust; Governing Law; Severabliity. 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 by the law of the jurisdiction in which the Property 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 provisions of this Deed of Trust or the Note which can be given effect without the conflicting provision„
<br />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
<br />of execution or after recordation hereof.
<br />17. Transfer of the Property; Assumption. If all or any par! of the Properly or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent, excluding (a) 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 joint tenant or (d) the grant of any leasehold interest of three years or less
<br />not containing an option to purchase- Lender may, at Lender's option, declare all the sums secured by this Decd of Trust to be
<br />immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or transfer, Lender
<br />and the person to whom the Property is to be sold or transferred reach agreement in 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 />Lender shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowers successor
<br />in inter has execute,—' ac-,,..,p i.o nt aces writs - Borrower front
<br />... t fie. _ °--_..� a written _...._..,,....,a ag:eeme.,, .,,.�„ptcd .r- r....,ag by Lender, Lender shall release Barrow -om
<br />311 obligations under this Deed of Trust and the Note.
<br />If Lender exercises such option to accelerate. Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of not less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of such period.
<br />Lender may, without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />NoN- UNiFoant COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />18. Acceleration; Remedies. Except as p. evided In paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower in this Deed of Trust, including the covenants to pay when due any sutras secured by this Del
<br />of Trust, Lender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the
<br />breach; (2) the action required to cure such breach; (3) a date, not less than 30 days from the date the notice is mailed to
<br />Borrower, by which such breach must be cured; and (4) that failure to cure such breach on or before the date specified
<br />in the notice may result in acceleration of the sums secured by this Deed of Trust and sale of the Property. The nc. -
<br />shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert
<br />the iron - existence of a defaul: or any other defense of Borrower to acceleration and sale. If the breach is not cured
<br />on or before the date specified in the notice, Lender at Lender's option may declare all of the sums secured by this (Deed
<br />of Trust to be immediately due and payable without further demand sand may invoie the power of sate and any other remedies
<br />permitted by applicable law. Leader shatl be entitled to collect all reasonable costs and expenses incurred in pursuing the
<br />remedies provided in this paragraph 18, including, but not limited to, reasonable attorney's fees.
<br />If the power of sale is invoked, Trr3tee shall record a notice of default in each county in which the Property or some
<br />part thereof is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the
<br />other persons prescribed by applicable law. After the lapse of such time as may be required by applicable law, Trustee shall
<br />give public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on
<br />Borrower, shall sell the Property at public auction to the highest bidder at the time and place and under the terms designated
<br />in the notice of sale in one or more parcels and in such order as Trustee may determine. Trustee may postpone sale of ail
<br />or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or
<br />fender's designee may purchase the Property at any sale.
<br />Upon receipt of payment of the price bid. Trustee shall deliver to the purchaser Trustee's deed conveying the Property
<br />sold. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee
<br />shaft apply Ike proceeds of the sale in the following order. (a) to all reasonable costs and expenses of the sale, including, but
<br />ma- Bumedto, Trustee's fees of not more than Y of the gross sale price, reasonable arli rney�i fees and costs of
<br />tide evidence; (b) to all Sunni secured by this Deed of Trust; and (c) the excess, if any, to the person or persons legally entitled
<br />thereto.
<br />19. Borrower's Right to Reiamate. Notwithstanding Lender's acceleration of the sums secured by this Deed of Trust.
<br />Borrower shall have the right to have any proceedings begun by Lender to enforce this Deed of Trust discontinued at
<br />any time prior to the earlier to occur of (i) the fifth day before the sale of the Property pursuant to the power of sale contained
<br />in this Deed otTrmt or (it) entry of a judgment cnforcing this Deed of Trust if: (a) Borrower pay, Lender :dl sums which world
<br />he then due under this Deed of Trust• the Note and notes securing suture Advances, if any, had no acceleration occurred:
<br />(h) Borrower cures Al breaches of any other covenants or agreements of Borrower contained in tbts Deed of Trust.
<br />fe) Borrower pay, all reasonable expenses incurred by fender and Trustee in cnforcing ilia covenants and agreements of
<br />Borrower contained in this Deed of Trust And in enforcing Lender'; and Trustee's remedies its provided to paragraph 18
<br />hereof. iuchtdintt, but not limited to, reasonable attorney's fees: and (d) Borrower takes such action as Lender may rcaaonuhly
<br />require to assure that the. lien of th,- ''geed of Trust, Lender', interest in the Property and Borrower's obligation to pas
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