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I 83-001~64 r I 9. Comlelllnatioao The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation. are hereby assigned and shall be paid to Lender, In tbe event of a total taking of the Property. tbe proceeds sball be applied to the sums secured by this Deed of Trust, with the excess, if any. paid to Borrower. in the event of a paniai taking of the Property. unles.s Borrower and Lender otherwise agree in writing, there shall be applied to the sums secured by this Deed of Trust such proportion of the proceeds as is equal to that proportion which the amount of the sums secured 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 of taking, with the balance of the proceeds paid to Borrower, If the Property is abandoned by Borrower. or if, afler notice by Lender to Borrower that the condemnor offers to make an award or settle a 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 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. Unless Lender and Borrower otherwise agree in w,iting. any such application of proceeds to principal shall not extend or postpone tbe due date of tbe monthly installments referred to in paragraphs I and 2 hereof or change the amount of such installments, to. Borrower Not Released. Extension of the time for payment Of modification of amortization of the sums secured by this Deed of Trust 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 Borrower's successors in interest. Lender shall not be required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand made by the orjginal Borrower and Borrower's successors in interest. 11. Forbearance by Lender Not a WaiveT. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded 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 taxes or other liens or charges by lender shall not be a waiver of Lender's rigbt to accelerate the maturity of the indebtedness secured by this Deed of Trust. . . 12. Remedies Cumulative. All remedies prOVided in this Deed of Tms( are distinct and cumulative to any other right or remedy under this Deed of Trust or afforded by law or equity. and may be exercised concurrently. independently or successively. t 3. Successors and Assigns Bound; Joint and Several liabilif}'; Captions. The covenants and agreements herein contain.ed shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of BOTTO\\'er shall be joint and several. The captions and headings of the paragraphs of this Deed of Trust arc for convenience only and are not to be used to interpret or define the provisions hereof. 14. Notice. Except for any notice required under applicable law to be given in another manner. (a) any notice to Borrower provided for in 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 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 requested, to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any 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. 15. Vniionn Deed of Trust; Governing Law; Severability. This form of deed of trust combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property, This Deed of 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 Trust or the Note contlicts with "pplicable law, such contlict shall not affect other provisions of this_Deed of Trust or the Note which can he given effect without the conflicting provision. and to this end tbe"provisions of the Deed of Trust and the Note arc declared to be severable. 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 after recordation hereof. 17. Transfer of the Property; Assumption. If all or any part of the Property or an interest therein is sold or transferred by Borrower 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 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 tcnam or (d) the grant of any leasehold interest of three years or less not containing an option [0 purchase. Lender may. at Lender's option, declare all the sums secured by this Deed of Trust to be immediately due and payable. Lender shall have waived such option to accelerate if, 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 such 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 shaH request. If Lender has waived the option to accelerate'- provided in this paragraph 17. and if Borrower's successor in interest has executed a written assumption agreement accepted in writing hy Lender, Lender shall release Borrowe~ from all obligations under this Deed of Trust and the Note. If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice shaH provide a period of not less- than 30 days from the date the notice is mailed within which Borrower may pay the sums declared due, If Borrower fail~ h1 p.l)- such sums. prior (0 the expiration of such period, Lender may. without further notice or demand on Borrower. invuke any remedies permitted by paragraph 18 hereof. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 18. Acceleration: Remedies. Except as provided in par&l:raph 17 hereof, upon Borrower's breacb of any covenant or agreement of Borrower in this Deed of Trust, including the cm'enanls to pay when due any sums secured by this Deed of Trusl, Lender prior to acceleration sball mail notice 10 Borrower as pro,'ided in paragraph 14 hereof specifying: (I) the breach; (2) the action required to cure such breach; (3) a dat., not less tban 30 days from th. date the notice i. mail.d to Borrow.r, by which sucb breach must be cured; and (4) that failure to cure s\lch breach on or before tbe date specified in the notice may result in acl-eleration of tbe sums secured hy this Deed of Trust and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert tbe non-existence of a default or any otb.r defense of Borrower 10 acceleration and sate, If the breacb is not cured on or before tbe date specified in tbe notice, Lender at Lender's option may declare all of th. sums secured by this Deed of TrusUo be immediately due and payable without furlber demand and may iuvok.e the power of sale and any other remedies permitted by applkable law. Leuder shall be entitled to coll<<t all reasonable costs and expenses incurred in p\lrsuing the remedies provided in tbls JIlU'lIllraph 18, including, but nm limited to, reasonabl. attorney's fees. IUhe power <If sale is in,'ok.ed, Tmst.,. sball record a nntice of default in each county in whicb the Property or some part tb......f is located and shall mail copies of sucb notice in Ihe manner prescribed by applicable law to Borrower and to the oIb.r persons prescribed by applicable law, After the lapse of such time as may be required by applicable law, Trustee shall give public notice: of sale to the pe-rsons and in the manner prescri!-ed b)' applicable law. Trustee. without demand on Borrowe,. shall sell the Property al public auction to tb. hij;hest bidder at tbe time and place and under the terms desiJlnated in the notice of sale in one or mo... pllK.ls and in s\lcb order as Trostee may determine. Truslee may postpone sale of all or IIDJ' PBfcel of fhe Property by public announcement at tbe time and place of any previously .scheduled sale. I.ender or tender's ck:sIcnee IIUI)' p~ tbe Property at any sale. UpoiI receipt of pay_t of the pric. bid, Truste. sball deliver 10 tbe p\lrehaser Trustee's deed conveying Ihe Properly sold. The reeltals in the Trust.,.'s deed sbaII he prima fade evidence of the trutb of the statements made therein, Tmstee sbaII apply the.......,.,.,. of the sale in the folinwJl!ll.or~r:fa) to all reasonabl. costs and expe...es of lhe sale. Including, but not IIuolted 10, trustee's fees of not more tban lot" 0, % of the gross sale price., reasonable allomey's fees and cosls of tJde,e""""";(bl 10 ail....... _"red by this Deed of Trusl; and lcl tbe excess, if any, to tbe person or persons legally entitled theme. '9. Borrower's RlPt to ReInotate, Notwithstanding I.ender', acceler.tion lIf the ,uO\s sccured by this Deed ,.f Tru,t. Boft,?wer s~an have the right ~o have ~ny proceedingi; begun by Lender to enforce this Deed Df Trust l~i,sct.)nlin\feu at ~l'Iy lime pnor to the earlwr to occur of (I) the fifth day before the- s~\le of (he Property pllrsuant to the power of' sale i,;'OnHllllcd rn this Deed ofT,uot','l' hi! entry of a iudsmelll enforcing thi, Deed of Trust if: (a) Borrower po.. Lender all ""u, which wI)uld be t:hm ~ under thIS _Deed of Trust the Note and tlote~ 1!.-e<:urmg Future Advances, If any: h.uj no ~l";l,,'"e-1cra!Hm n'\;:4:lIfr~d: (b) BOflU'4-'ef CU_ftMi aU bf"e<<Ches of IlftY -()the-r co"Vcnanh or agreements o( Borrower (,:onliltned lJ1 thi:>. Deed of T rtl\t; tel Bor1'\.l'\\lef P"'yil aU rell$Onabte e"pcnw:>, inc-u~red by Lender and Trwitee ill cntorcltl8 t~e i..'OVcnants an~J ~lgn.'\:lllcnb of Do.nt.~-.:r (A\)(1~ained in .hi.. Dted or Trust and in cnfo~-ing Lender's and Tru...te(:'~ renlcdl~ .a~ prf;lVllfed Ifl para~raph 1 S hd'cot if1lCkt-din.~ ~t not imu1cd .u. r~awnablc- iutorne-y s. fees. .and {,h 8orrower takes ,'>-lh.:h a<\lon <$.1\ L..nde-r mil\' fc..-"l.mahh ~(.utt It.> auult! Hut the- Ju~n of thiJ l~ of Tnl:l!ot. I.c-nder',; totCf{"<;,t fn the Propcnv MId H;:ITnY.\t:r\ l\h!i~afii,'ln h' p:n tln 1.