|
<br />04~._--si004~~
<br />9. Coademnatlon. The proceeds of any award or claim for damages, direct or consequential, in connecrion 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 fotal taking of the Property, the proceeds shall be applied to the sums secured by this Deed of Tmst,
<br />with the extxsa, if any, paid to Borrower. in the event of a partial caking of the Property, unless Bottower 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 Ttttst immediately prior to the date of
<br />taking beats to the fair market value of the Property immediately prior to the date_of taking, with the balance of the proceeds
<br />paid to Bormwer.
<br />If the Pmperty is abandoned by Borroweq 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 [o 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 [o restoration or repair of- the
<br />Property or to the sums secured by this Deed of Ttvst. - - -
<br />Unitss 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 insmllments referred to in paragraphs 1 and 2 hereof or change tfie- amount of
<br />such insta(imeats. -
<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 shalt not operate to release, is any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shat) 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 I: Forbearance 6y [,ender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall no! be a waiver of or preclude the exercise of any such right or remedy.
<br />The procurement of insurance or the payment of taxes ar other liens or charges by Lender shall no[ 6e a waiver of Lender's
<br />right to atxxlerate the maturity of the indebtedness secured by this Deed of Trust.
<br />12. Remsdlrs Cum:dativt :111 :ct: ; pr dc ........: . .... ..~. - .. ~„ '^C _:...... - °- '" "°t'°
<br />or remedy under this Decd of Trust or affordiduby law or ~equity,e and maybe exttcised concurrently, ~independent(ybbr
<br />Srrect$aiVt}}'.
<br />t3. Successors and Asaigas Boond; Ioint and Several Liability; Captions. The covenants and agreements herein
<br />erontained shall bind, and the rights hereunder shall inure to, the respective successors and asssgns of Lender and Borrower,
<br />subject to the provisions of paragraph t7 boreal. Ail covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Deed bf 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 requred under applicable law to he given in another manner, (a) any notice to
<br />Borrower provided for in this Deed of Trust shall be given by matting such notice by certified malt 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 />(h) any notice to Lender shall be given by certified mail, return receipt requested, ro 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 />teed of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />t5. Uniform Deed of Ttvst; Governing Law; Severabilit}. 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 rest property. This Deed of Trust shall be 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 ur the Nate eonfiicts with applicable law, such conflict shall
<br />net affect other provisions of this Deed of Trust or the Note which can bt 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 />Id. Borrowers Copy, Borrower shall be furnished a conformed copy of the Note and of this Deed of Trust al the time
<br />of execution or after recordation hereof.
<br />17. Tra~a of the Property; Assumption. ff all nr any part of the Property or an interest therein is said or transferreA
<br />by Bormwer without Lendet's prior written consent, excluding i a l the creation of a Lien or encumbrance subordinate to
<br />this Deed of Trust, (b) the creation of a purchase money security interest tar household appliances, (c) a transfer by devise,
<br />Aesctm or by operation of taw upon the death of a ioint tenant br (<i} the grant bf any leasehold interest of three years ar less
<br />not containing an option to purchase, [.ender may, at [.ender i option, declare ail the sums secured by this Deed of Trust m he
<br />immediately due and payable. Lender shall have waived such bpuon to accelerate if, prior m 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 tender and that the interest payable on the sums secured by this Deed of Trust shnll be at such rate as
<br />(xnder shat[ request. if bender has waived the option tb accelerate provided in this paragraph 17, and if Borrower's successor
<br />in interest has executai a written assumption agreement accepted in writing by Lender, 1_ender shall release Borrower fmm
<br />all obligations under this Deed of Trust and the Notes
<br />Tf Lender exercises such option to accelerate, Lender shall mail Burrower notice of scceteration io accordance with
<br />paragraph i4 hereof. Such notice xhall provide a period oC not less than 30 days from the date the notice is mailed within
<br />which Borrewer may pay the sums deeiartd due. If Borrower faits w 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 I8 hereof.
<br />Note-litufFOast Covt:rur•rrs. Borrower and Lender further covenant and agree as follows:
<br />Ig. Accelmtion: Remedies. Except a provided in paragraph l7 hereof, upon BorrowePa breach of env covenant or
<br />agreement of Borrower in this Deed of ~I'msp indudinR the covenants to pay when due any sums secured by This Deed
<br />of Trust, l.eadet prior to accekration shag mail notice to Borrower av provided in paragraph I4 hereof specifying: (I) the
<br />breach; (2) the action required to cure such breach: Il) a date, not less than 3U days from the date the notice is +nailed to
<br />Borwwtr, by which such breach mr+st be eared; and (d} that failure to cure such breach on or before the date specified
<br />in the notice may result in scceteration u[ the sums secured by this Ueed of '1"rust and sale of the Property. Tht notice
<br />shall turther inform Borrower of the right to reinstate after acceleration and the right to bring a court action to asseH
<br />the non-txistet~e of a defaaft nr an}' other defrnss of Snrrower to acceleration and safe. If the breach is not cured
<br />on or before the date specified to the notice. Lender at Ixnder's option ma} declare all of the sums secureA by this Deed
<br />of Trust to be immediately due and paysbft without further demand and may invoke the power of salt end any other remedies
<br />permitted by applieabts taw. Gender shalt i>e entfdsd to collect aB reasonable costs and expenses incurred in pursuing the
<br />remedb provided in this paragraph 1g, including, but not limited to, reawnaMe attarney's• fees.
<br />tf the power of salt k invoked, Trustee shalt record a native of default in each county in which the Property or some
<br />part thereof fs located sad shalt maB copies of such notice in lire manmr prescribed by appicable law tv Borrower and is the
<br />other Persuas-prescribed by applicable law. After the lapse of such time a.+ may bt requrred by applicalde taw, Trustee shall
<br />Rive gublir nrstkt of-safe to tbt persons and in the manner prexribed by applicable taw. Trustee, without demand Vn
<br />Borrower, aha11 aeU the Property at public auction !o the highest bidder at the time and piece and under Ibe itnns desiRna+sA
<br />in the notice of salt in one or more parcels and in such order as "frnstte may determine. Trustee may postpone salt of all
<br />or any parts! of the Pmperty by public-anlwuncement at the titnt and place of any previously scheduled sale. t"ender or
<br />[.endsr's dssiguts may purchase the Property at say sale.
<br />tipon rectfpt of payment of the print bbl, "i'ntster shall deliver to the purchasrr 'frwtrr's deed conveyi+rg the Proper[}
<br />sold. The recitals in the Trtrstes's deed sludl be prima facie rvidenee of the truth uC the stattvnenLs matte therein. 'Trustee
<br />snail apply efts proceeds at the sale in the falbwi~ order: 1a) to alt reasonable costa and exprnsss of the sail, including, bat
<br />mrf lhraited ar, "[5»tst's Eves of not more than 5S of t:r ut the Rruss sale price, rraav+rable aitornt}'s foss and tvrats of title evidence:
<br />ib) to a8 trtuaa~axcnred by Mis i)t~ed of `[toot; and eel the exCPr~s, if any, fa the person or perssars Irgally entitled thereto.
<br />l9: 15orrow'd'a R~ht !o Rsinstatt. Notwuhstanding Lender's acctEtrati~m of the sums stc:ured by this Dtcrt oC Trust.
<br />Bartowsr silatl have the right [a have any proceedings begun by Lender rc+ et+foret this Deed of 'Trost drseonunued at
<br />any tune prior W thttar(ier to <x:r:ur of (i} the fifth day betart the sale of the Property pureuam to the power of sale contauerd
<br />in this DCtd of Trust or('ii) entry of a judgrttont entoreing this Dted of T`rtrsi tf: cal Borrower pays '[rrmdsr ail sump which wcetAd
<br />hti ttren ~dtte under this Ikxd of Trtxs6 tilt Nr,ns and naves securing Future Advances, if an}°. had nrr sctxteraunn +w:r_urrr~d:
<br />fI+) B•arrower curse a)I breaettes of any rtthtr covenants ar agrssmsnis of Boribwt+ cantatned rn this Cked of E-rust.
<br />lei tfturnwsr pays alt reasonahtt expenses intxutsA by )~cndsr and °Trtwtee in enforcing the .ervenams and agreements oC
<br />Bamnver e`ontarnotf in ibis Lkxd at l'rust antl in .:nfnrcing Lcndsr`s acrd 'i =ustst's rrmedres as provedexl .n paragraph 18
<br />hereof, ir+cttrdi+sp, inn not ismiltrd ta, rsasonablt attorney's fees; and td} Borrower taRw~ such action as Lender may rtasanahii=
<br />ratfasrp ace trasurt fbat the Tito of tlrrx Deeett of ~Tri+st, 1 tmtfcr's interest sn the f'ropettY ;end Bar[<rw•e+''s nhligart;.ur i~, t`>:~+
<br />
|