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<br />83--0017'7.3
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<br />83-0017U1
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<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 he paid to Lender,
<br />In the event of a total taking of the Property, lhe proceeds shall be applied to the sums secured hy this Deed of Trust,
<br />with the excess, if any, paid to Borrower, In the event of a partial taking of the Property, unless Bo~rower and Lender
<br />otherwise agree in writing, there shall be applied to the sums secured by this Deed of Trust such propor\fon 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 Prope,ty 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 />to. 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 />] t. Forbemrance by Lender Not a \Vaiver. 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 accele,ate 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 equilY. 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 Jaw 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 mail, return receipt requested, to Lenders 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. Unifonn Deed of Trost; Governing Law; Severability. 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 Dced of Trust or the Note conllicts with applicable law, such conllict shall
<br />not affect other provisions of this Deed of Trust or the Note which can he given etfect 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 />Hi, Borrower's Copy. Borrower shall he ftlrOlshed 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; Assumptiou. If all or any part of tbe Property 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 Det.-d 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 tcnant 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 Deed 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.,Jhe 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 hy this Deed of Trust shall be at such rate as
<br />Lender shall request. If Lendel has waived the option to accelerate provided in this paragraph 17. and if Borrower's successor
<br />in interest has executed a written assumption agreement accepted in 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 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 (0 pay such sums prior to the expiration of such period.
<br />Lender may, without further notice or demand on Borrower, invoke any remedies permitted hy paragraph 18 hereof.
<br />NON-UNIFORM COVENANTS, Borrower and Lender further covenant and agree as follows:
<br />18, Acceleraliou; Remedies. Excepl 3._ provided in paragraph 17 hereof, upou Borrower's breach of any covenanl or
<br />agreemenl of Borrower in Ihis Deed of Trusl, including Ihe covenauts 10 pay when due any sums secured by this Deed
<br />of Trust, Lender prior to acceleration shall mail nolke 10 Borrower as provided in paragrapb 14 hereof specifying: (I) Ihe
<br />breach; (2) Ihe actiou required 10 cure sucb breach; (3) a date, nolless Ihan 30 days from the dale the notice is mailed 10
<br />Borrower, hy which such hreach musl he cured; aud (4) thai failure 10 cure such hreach on or hefore Ihe dale specified
<br />iu Ihe nolice may resull in al",eleratiou of the sums secured hy lhis Deed of Trust and sale of Ihe Property, The notice
<br />shaU further inform Borrower of Ihe righl to reinstale afler accelenuion and the righl to hring a court action to assert
<br />the non-existenc::e of a default or an)' other defense of Borrower to acceleration and sale.. If the breach is not cured
<br />on or before lhe date specified in the uotice, Lender al Lender's optiou may declare aU of the sums secured by Ihis Deed
<br />of Trust 10 be immediately due aud payable wilbout further demand and Olay im'oke the power of sale and auy oIher remedies
<br />permitled by applicable law, Leuder shall he entitled 10 collect all reasonable costs and expenses incurred in pursuing the
<br />remedies provided in lhis paragrapb 18, induding, bul nol limited to, reasonable attorney's fees.
<br />If the power of sale is iuvoked, Trustee shall record a nolice of default in each county in wbic:h the Property or some
<br />part lhereof is located and shall maD copies of such uotice in Ihe Olauner prescribed by applicable law to Borrower and to the
<br />oIher persoos prescribed by applicable law. Afler the lapse of such lime as may he required by applicable law, Trustee sball
<br />give public nolke of sale to the persoos and in Ihe manner presc:rihed hy applicable law. Trustee, withoul demaud on
<br />Borrower, shall selllhe Property at public aIKtion 10 the highesl bidder al the lime and place and under the lerms des;gnaled
<br />in Ihe notice of sale iu oue or more parcels aud in such order 3.. Trustee may delermioe. Truslee may postpone sale of all
<br />or auy parcel of lhe Property by public auoouncemeul at Ihe time and place of any previously scheduled sale, Lender or
<br />Leuder's designee may purchase the Property at any sale,
<br />Upou receipt of paymenl of lhe price bid, Trustee shall deliver 10 the purchaser Trustee's deed couveying the Propert)'
<br />sold. The recilals iu the Trustee's deed shall he prima fade evideuce of Ihe lrulh of Ihe slalemeuts made Iherein. Trustee
<br />shall apply the proceeds of lbe sale in lhe following order: (a) 10 all reasonable cosls and expenses of the sale, induding, bul
<br />not Iilllited to, Trustee's fees of uol more than 05 % of Ihe gross sale price, reasouable allorney.s fees and cosls of
<br />Iitle evidence; (b) to aU sums secured by lhis Dee<l of Trust; and (c) Ihe excess, if an)', to Ihe person or persons legally enlitled
<br />Ihento.
<br />19. Borrower's Ri&bt 10 ReiosIale, Notwithstanding Lender's acceleration of the slims sccured by this Deed of Trusl.
<br />Borrower shall have the right to have any proceedings begun by Lender to enforce this Deed of Trllst discontinued at
<br />~ny ~ime prior to the ear~.ier to occur .of (i) the fifth da.y bcf?rc the sale of th~ Property pursuant 10 the power of sale cont"incd
<br />10 thiS Deed ofT""1 or (II) entry of a Jlldgment enforclOg thIS Deed of TnlSI.f: (al Borrower pays Lender ..II sums which wOllld
<br />be then due under this Deed of Trust, the Note and notes securing Future Advances. if any, had no ~lccclcration occurred;
<br />(b) Borrower cun::;. aU brea.ches of any other covenants or agreements lJf Borrower l'ontained in this Deed (\f Tru~t:
<br />(e) Borro\\l-er p~ys al~ re~na.ble expenses incu~rcd by L;ender and Trustee in enforcing the cO\lcnan.b an~ agrccmcnls of
<br />Bt)rrow~r coo!.atned In Ihl~ f?eed ()f Trust and In cnh1rcmg l.ender's <tnd Tru!<.tce's rcnn,odic5 as provuJcd In paragraph 1 S
<br />hereof. mctudm&. but not hmlled to. reasonable attorney's fees; and Cd) Borrower t;'lkes slIch action as. Lender ma\' rcasonablv
<br />require to auurc that the lien of thill I:>eed of Trust, l.ender's interes.t In the Propcny and Borrower's obligation (1'\ p:.1)'
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