|
<br />83-003376
<br />
<br />
<br />9. CODdelllnatiollt. The proceeds of any award or claim ft)r damages. direct or cOllsequential. 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 eVeJOt of.a tota4 taking, of the Property, the proceeds shall be applied to the sums secured by this Deed of Trust.
<br />any~ paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br />writing.. there shan be applied to the sums secured by this Deed of Trust such proportion of the proceeds
<br />cOportion which the amount of the sums secured by this Deed of Trust immediately prior to the date of
<br />fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br />
<br />yisabandonedbyBorrower.or if. after notice by Lender to Borrower that the condemnor offers to make
<br />a claim fordamages, Borrower fails to resp.:md to Lender within 30 days afterlhe date such notice is
<br />maijeif.~er is llu~bil)rized IQcoHect and apply lhe ptoc:eeds, at Lender's option, either to restoration or repair of the
<br />Pmpert.YOl.t() tbies~ms securedby.this Deed of Trust"
<br />Unless r.ellder~ndBorrower otlIerwise agree in writing, any such application of proceeds to prillcipalshall Ilotextend
<br />the due date of tile lTIomnl.y installments referred to in parag.raphs I and 2 hereof ,)1' change the amounl of
<br />sU l'I.ts, .
<br />NO( Re1etied. Extensiollof the time for payment or m(ldification of amortizalion of the sums. secured
<br />by this Deed of Trust gJrallled by Lender 10 any successol' in interett.ofBol'l'Qwer shal.! 0,1t operate 10 release, in any malineI',
<br />lhe linbility of the original Borrower ami Botrowe:r\ in interest. Lender shall not be. required to commence
<br />proc.eed1ngs against sU<:tn sU<:t(:esoor \.lr refuse 10 extend time p:tYOlent or otherwise modify amortization of the. sums
<br />secured by this Dt.oed 01' Trust by reason",! any demand made Ihe origin:tl Borrower and Borrower's successors in interest
<br />II. ForbellralN:e by tender Not a Waiver. Any forbearan<.:e by Lelldt~r in exercising any right Of remedy hereunder. or
<br />otherwise afforded bY~iPplic.ab.le Jaw. shall not be a waiver of or preclude t.he exercise of any such right. 01' remedy,
<br />The procurement of insurllnce or the Pllyment of taxes or olher !lens or ~'harges by Lender shall not be a waiver of Lender's
<br />l'ighno llCCelerate the lltl.\tlllity of the indehtednf:$s secured by this Deed of Trust
<br />12. Remedies CUlDuI.Uve. All remedies provided III tbis Deed of Trust are distinct and cumuiative !<) any other right
<br />or remedy under this need at Trust or afforded bv hlw or equity. and .nav be exerciscd concurrently, independently or
<br />succes.'lively.
<br />13. Su~rs and Assigns Bound; Joint and Severnl LIability: Caplions. The covenants llnd agrecment.~ herein
<br />contained linal! bind. and the righlS hereunder ,ball !Oure to.. the rc.spCCII\,(~ successors and assigns of Lender and Borrower.
<br />Subject 10 the plI'twisions of paragraph 7 hen.'<J! All ~nvenants and agreemcl1l~ of Borrower shall be joint and sevcral.
<br />Toe captions and headings of the paragraphs ,\1 ihlS Deed ,,[ Trust are lor C'01w,'nlence only and are not I,> be used to
<br />ime'1lfet or de1ll~e the proVisions hereof,
<br />14. Nodee. Except for any mJliec requm:d under Ii'....' In he gIven III another manner. (al .mv notice w
<br />BOIT~Jwer pl'Ovided for in this De.ed of Tnlst $hall he 8,vcn such rmuce by ,:enitied mall addrcssed I" Borrower at
<br />lhe Property Address nlr al such olher address as 1:I01'f()wcr lmy My notice 10 Lender .1$ proVided herein, and
<br />~ hI llllY !loti,~ 10 Lendcir sball be given by certified nUllL return receipl requesle,l. w Lender\ address stated herem 01' to
<br />sU<.i1 .other lIddn:sll lIS l.ender may deSIgnate, hy nOII\;e hl Borrower 3S pnwlded herem, Any notice provided tor In this
<br />Deed of Tru.SI shall be deemed l(l have been glvell 10 B()rrow,~r "; Icmlcr when gIven m the manner d<.'Signllted herein,
<br />US. Uniiform~. ()f TnIlit~ (;o'l'cminR 1.&_: s.:.,'tmlbillfy. T~m form nf deed of trim ,,'momes u!llform covenanls for
<br />nau\1I1l11 IJse ,lnd !lOn'lllllform covenants Wllh lanHed 'anallons by IUrls<.hello!\ 10 <:onStllIlle a urui'Ol'nt seellnl\' in'lrurnelll
<br />c<weriing re,11! pmpc:ny, 'm" Deed of Trust ,hall b~i lI,wemed bv the L1W ;l!lhe III wtll~h the Propert" " k,,:ared
<br />In the eVellt thlll any prOVISIOn <'r dauM: of thIS "ked ('I [rusl tho: S.)le ,.ppllc01ble law. SIKh (onfl!cr shall
<br />nor lulcel other I~mv,si,ms "I thIS Deed of TrUSI N' lhe Note which "<Ill 10" <:ltccl wlth,'ut Ihe Cnlll11Ctlllj.( PWVISl<'I1,
<br />alld 10 IhlS end line proV!iSIQllli ot lhe Deed "1 rrusl: O1'It! lhe Nok <ln~ ,<' he ~cvcrahle,
<br />16, Borro~'elr'.~.~tr lIhllll he lurni..hed ;l,"nl<llln,'<i ""PY ,q 11\<: NOle ;lI1d 01 IhlS Deed ,.Ih'''l "I the lime
<br />,,' ex~:cul!"ll "r ;I,ftcr regproitllon.~
<br />17. T~l!t' l>f thllif'~l'.~~ U..l!'", pari d lb,: ProP'''l} v., ;tll llmltest tberc'n " sold", If<msfcHed
<br />by lkl,rrowef' wi,l!'k"'l,ut J,.,..e:f'1der"-s prh-lr ~-rutcn (-On~t:nL i ;1) lhe !.'rt:"~i~h}1! oi ~I hen pI <:ff\;,:ulHhraru:c '\uhordtfuttc to
<br />Ihi.s DCc.~,j "tfnll,l. I III the CrClIl'(lll (II <I pUfchllse ,,,,,,..;, 't'n.nI' ,otCII.:sl !"I i""J,dmld i.~! .1 trallsfer 1>\' deVise,
<br />des~'elll or h) (\f'!H~IIH}1l "f law Ilpcm dCillO ,)f iI I,lml [>:mWl \ d \ :hl~ 01 il1n mteresl d three '<II ies,
<br />not c-<}nh'unullJ~ an 'l),Nlon eft pUfiChasc. fH~:i:~, At i ~nd~'r-~ l,If"tloll. the 'tHH:~ "~c-('Utt'd h,: thi~ j)t'C't;1 1 fus1 tr~ bt;,'
<br />.mlll<:>oii.ateiy due lllKi j)ltlrable, LelKier h,l'" 'A .,,\\~d ,udl II' a,..:elel ille rt. 1'1'''.\1 lp lhe ,..Ie "r tllHhler. LenJcl
<br />,,0<1 the: per:iOn to Wh'lnl the I'ropert) '" h) "" ,,'1<.1 !I.:.I,h ,'greemt'nl" that the ,ft~JII .,u<1, 1"-'1''''''
<br />IS sa!isfllewry lo l,~ndet .md Ihlll the Interest pilsiJb.1' ,'II ;11<1 '.m'h",'lJICd f)Ct'O lrllSl,hlill i'e "I slIdl r,.It: <!'.
<br />I cndel shall tle<llue~t II Lender h:IS "'ulve,j lhe <l1l!!OIl O1,,'I'.enlll' pW' "led and If Bml""'cr'" \'''.cess,,,
<br />m 'nlen::l>t fill. e.\'~':.lljh,ld ;,. "'I'iue'i ".l>~uml'l'Ni ;l"CPl<:J" I 11m!; t'nder ,hall relcast' Hllrr"Wcr Iron!
<br />,!II ohlipliol1~ ui'ldc:t this Deed 01 Tru)! ;md
<br />If tender e,;cl'c.SCS MKn ,"pilon 10 ;l,;..:del.'I.e
<br />p;oragr,jlph 14 hefc\.ll. Such !I0h..::c shall pll"".!e ;,
<br />.'duct; nonower mOllY p;oY Ih-c i\l,11Il~ deducd du.:
<br />LendC!1' Ill"y, wilhiOUI lunher n\,l,Ce 0, dem;md ,lit
<br />
<br />C::''fhjcr ",hail ~1iad BO!'h"i~l:l' nO!iCC ,h"I.,:t;:ICl'alion ,!(,,,,,unj~HH.:,"':: '~iifh
<br />!\,:S~ ~h,HI da\;~ r rl'ln the ddlC tht~ (H')tlc~ l~ rnailed wi~hir.
<br />B{)!ir..twC{ Lid\ li,". '\!th:h '')uat~ p:ior fe. the C'xptrafJ\Jf1 (tf su;;h fX~ril).d.
<br />Bi,'trr(~\'\"e;, (jT,>'ukc an" r~;ln~,dtc:\ pe:t tn~:h;"d by paragraph 1 X hen:tJL
<br />
<br />NON.l,NlI"OllM CmlleN"NI!\ lkIlTf,y,e, "lid tender lul1.her ,,<'''cnan! nlld aglee;" !ollows.
<br />
<br />lilt A...,'elenltwu; R,w.e41j(,s. f.1t('ep! Jl.~ providlNi in pan.gcaph 17 he.reof, uj)(Jn 8ormwer's breach f}f 1111)' (<("enanl or
<br />ag~q\(mt of BtH~'''er h, tll. (ked of lru.~l. lndudlnll In" "O'~'''\Ilts to P"l ""<In dne a":I ~.ums secured b)' this need
<br />of 1 rust. L.,ooe. iprior In .."......Ieration shli:ll m:Ulllol:ke to Burrower ll~ pnHided in paragrapb 14 hereof 'pet/fying: ell lhl:'
<br />Ocl:a"h; illlbe ad")u re'lllJired 10 ('1m; .such breadl; (;), a dllte. nol It....,.<, dum 30 dllY' from Ihe dale lhe n(llke is mailed to
<br />B.>>,ro..u. by whl,dl such bUlk'h mlL~1 be ('lIred; and (41 lllal r..Hur.' 10 nJre ~lJeh bread. Oil or hef,,,e Ihe date spt'dfied
<br />in tlte m.ttcl! lUll, resull in at:cieleraliQIl of Ihe sllmsseeured II~ litis l)l!('d ",f Trusl and sale vi Ihe I'm,.ert). The nolice
<br />sbali furtMr infom. Borw()"..er ..f tile righl 10 reinstale aflef aen:lel'lltiOfl and Ihe dlthl 10 brlnga court lH:tioll I" assert
<br />Ibt' non-existence .,1' a default 01 lln~ olne.r defense of Borro"er 10 anekcatioll and sale, if the brellt:h is nol ("ured
<br />on w before Ule !lalte sped.lied in Ibe notlee. I..mder at 1.<l'lId'lr'S oplion may dedare all of Ibe Slims seHlred by this Deed
<br />u.f Trll$l 10 M imflilediatel)f due alld paYllblt; witMut further deuIlmd and may in'oke lhe [lower of sale and"n.~ IIlberlemedi,."
<br />penuiu:ed. by llppiicllbfe 1:1"1'. Lend", shall be entille4 10 u>lIetl all rellSon:abl" l'o<,ls "ud eXp"IlM'.' incurred ill pursuing the
<br />rem . II}, ri:lIMmahie allllcn"y', fe.;s.
<br />,,,rd a nol,c", 01' default ill "aen Ct1Unll ill wbleh the Plopt'rt~' or <,ome
<br />!l4tt thereof i~ located lInd: s~lt lII:U1"fipies of sueh notk" ir. Ibe Ulll'Uler pre.saibed by applicable 11I1'I' to Bono",,,. and to t11('
<br />by "Vplit:abl.... law. Trust;:;:. ,hal!
<br />, Tn...tee, without demand (HI
<br />irom "mil pl~;:(' lIlId und,;r the tI'rn:tS
<br />Il.av
<br />lime alldpbl<:~ of any
<br />
<br />
<br />
<br />
<br />
|