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<br />83-001901
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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 be paid to Lender,
<br />In the event of a total taking of the Property, the proceeds shall be applied to Ihe sums secured by this Deed of Trust.
<br />wilh the excess, if any, paid 10 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 Ihe sums secured by Ihis Deed of Trost such proportion of the proceeds
<br />as is equal 10 that proportion which the amount of the sums secured by this Deed of Trust immediately prior to Ihe dale of
<br />laking bears to tbe fair markel value of the Property immediately prio, 10 the date of taking, wilh Ihe balance of the proceeds
<br />paid 10 Borrower,
<br />If the Property is abandoned by Borrower, or if, afler notice by Lender 10 Borrower thallhe condemnor offers 10 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 collecl and apply Ihe proceeds, at Lender's option, either to resloralion or repair of the
<br />Property or 10 the sums secured by tbis 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 />It. Forbearance by Lender Not a ,""aiver. 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 ,ight 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 10 accelerale the maturity of the indebtedness secured by this Deed of Trust.
<br />12. Remedies Cumulative. All remedies provided in this Deed of Tnlst are distinct and cumulative to any other right
<br />or remedy under this Deed of Trusl or afforded by law or equity, and may be exercised concurrently, independently or
<br />successively.
<br />13. Successors and Assigns Bound; Joint and Several Liabilit}'; 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 />subjecl to Ihe provisions of paragraph 17 hereof. All covenanls 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 />inlerpret 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 olher 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 Lender's address stated herein or 10
<br />such other address as Lender may designale by nOlice to Borrower as provided herein. Any notice provided for in this
<br />Deed of Trust shall be deemed 10 have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Uniform Deed of Trust; 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 be governed by the law of the jurisdiction in which the Property is located.
<br />In the event Ihat 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 he given effect without the conflicting provision.
<br />and to Ihis end Ihe provisions of the Deed of Trust and t he 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 Ihe time
<br />of execution or after recordation hereof.
<br />17. Transfer of Ihe Property; Assnmption, If all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent, exclp9ing (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 aJl 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 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 Borrower's successor
<br />in interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from
<br />all obligalions under this Deed of Trust and the Note,
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower nOlice of acceleration in accordance with
<br />paragraph 14 hereof, Such notice shall provide a period of nOI less than 30 days from Ihe date Ihe 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-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows;
<br />18. Acceleration; Remedies. Except as provided in paragraph 17 hereof, npon Borrower's breach of any covenant or
<br />agreement of Borrower In this Deed of Trusl, Including Ihe co,.enants to pal' when due any sun.s secured bl' Ihls Deed
<br />of Trusl, Lender prior to acceleralion shall mail nolice 10 Borrower as pro,'ided in paragraph 14 hereof specifying: (1) Ihe
<br />breach; (2) the aelion required t<l cure such breach; (3) a date, not less Ihan 30 days from the date the notice is mailed to
<br />Borrower, hy which such breach must be cured; and (4) that failure to cllre such breach on or before the dale specified
<br />in Ihe notice may resull in acceleration of the sums secured by Ihis need of Trust and sale of the Propertl" The notice
<br />shall further Inform Borrower of the righl 10 reinslate after acceleration and Ihe right 10 bring a court aclion to assert
<br />Ihe non-existence of a default or any other defense of Borrower 10 acceleration and sale, If Ihe breach is not cured
<br />on or before Ihe date specified in Ihe notice, Lender at Lender's oplion mal' declare all of the sums secured by this Deed
<br />of Trust 10 be immediately due and payable without further demand and mal' Invoke Ihe power of sale and any olher remedies
<br />pennitled hy applicable law. Lender shaD be enlilled to collect all reasonable <'osls and expenses incurred in pursuing Ihe
<br />remedies provided in this paragraph 18, inclnding, hut not limited to, reasonable atlorney's fees,
<br />If the power of sale is invoked, Trustee shall record a notice of defaull in each eounly In which Ihe Propertl' or somc
<br />part thereof is located and shall mail copies of such nolice in the manner prescribed by applicable law 10 Borrower and 10 the
<br />other persons prescribed by applicable law, Afler the lapse of sllch lime as may be reqllired by applicable law, Trllstee shall
<br />give puhlic notice of sale 10 the persons and in the manner prese,lbed by applicable law, Truslee, without demand on
<br />Borrower, shall sell the Property at public auclion to the highesl bidder atlhe liOle and place and under the terms designated
<br />in the notice of sale in one or more parcels and in such order as Tnlstee may determine. Trustee may postpone sale of all
<br />or any parcel of the Property by public announcemenl al the lime and place of any previously scheduled sale, Lender or
<br />Lender's designee may purchase Ibe Property al any sale,
<br />Upoa receipt of payment of Ihe price bid, Trustee shaD delh'cr to the purchaser Trustee's deed com'eying the Property
<br />sold, The. recilals in the Trustee's deed shall be prima facie e,'ideuce of Ihe truth of the slalemenls made therein, Trustee
<br />shall apply the proceeds of Ihe sale in.lhe followin~ order: (a) tn all reasonable costs and expenses of Ihe sale, including, bill
<br />not limited to, Trustee's fees of not more than 1/2 of 1 % of Ihe gross sale price, ,easonable allorney's fees and costs of
<br />tille evidence; (b) to all sums secured by this Deed of Trost: and (c) the excess, if any, to lhe person or persons legally entitled
<br />lhereto.
<br />19. Borrol\'er's Right to Reinstate. Notwithstanding l.ender's acceleration of the slims secured bv this Deed of Trust,
<br />Borrower shall have Ihe right 10 have any proceedings begun by Lender to enforcc this Decd of trust discontinued at
<br />. any ~ime prior to the earlier 10 ciccur of (i) the fifth day before Ihc sale of Ihe Propcrty pursuant to the power of sale l"l,"tained
<br />in IhlsDeed of Trust or (ii)enlry of a judgment enforcing this Deed of Trust if: (a) Borrower pays Lender all slims which w,,"ld
<br />be then due under this Deed of Trust. the Note and noles securing Future Advances. if any. had no acceleration oCl'urrcd;
<br />(b) BQrrQwer cures all breaches or any other covenants or agreements of Borrower contained in this Deed of Trust;
<br />(c) Borrower pays all reasonable expenses incurred by lender and Trustee in enforcing the covenants and agreements of
<br />BorrQw~r con~llined in thi~ J?ecd of Trust and in enforcing Lender's ,Hld Trustee's remedies. as provided in l~aragraph IS
<br />her~f.- mduumg. but not lu:ruted to. .rea.~onable attorney's. fees: and (d) Borrower lakes such ..tC110n .\S Lc-nder may rca~l..m;\bly
<br />reqt.ure- to assure that the hen of thIS Deed of Trus1, Lender's lnterest In the Property anu Bon'owcl;'5 ()Niga(h~n to pol)'
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