|
<br />r
<br />
<br />83- 004952
<br />9~ C'D'audaD. The proceeds of any award or claim for damages. direct or consequential. in connection with any
<br />condemftatloo or other laking 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 evenl of a total taking of lhe Property. lhe proceeds shall be applied 10 Ihe sums "",wed by this Deed of Trust.
<br />with the excaa, if any. paid to Borrower. In the event of a partial taking of lhe Property, unless Borrower and Lender
<br />othel'Wioe ..- in writinll. there sball he 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 Ibis Deed of Trust immediately prior to the date of
<br />taking bears to the fair market value of the Property immediately prior to the dale of taking, with the halance of the proceeds
<br />paid to Ilortower.
<br />If the .Property i. abandoned by Borrower. or if, after notice by Lender to Borrower that the condemnor offers to lI1llke
<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 roIleet and apply the proceeds, at Lender', 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 paragraph, I and 2 hereof or change the amount of
<br />such inlltallmentJ.
<br />I'. ............ Not R........ Extension of the time for payment or modification of amortization of the sums secured
<br />by Ibis Deed of Trust granted by Lender to any successor in inrerest of Borrower shall not operate to release, in any manner.
<br />the liabl1;ty of the original Borrower and Borrower's 'uccesson in interest. Lender shall not be required to commence
<br />proceedin.. 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 tbe original Borrower and Borrower"s successors in interest.
<br />11. P............. by Le_ Not a Waber. Any forbearance by Lender in e.ereising any right or remedy hereunder, or
<br />otherwise afforded by applieable law, shall not be a waiver of or preclude the e.ereise of any such Ii!!,>t or remedy.
<br />The proc:un:rnent of insurance or the payment of taxes or Other liens or charges by Lender ,hall not be a waiver of Lender's
<br />right to .ccelerate the maturity of the indebtedness secured by this Deed of Trust.
<br />12. R-.... Clo...ucl.... 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 .fforded by law or equity, and may be exercised concurrently, independently or
<br />succeaively,
<br />13. ~ ncI AIIlpa lIoomd; hot and Se"'lal l.Iablllty; Cal'llofts. The covenants and agreements herein
<br />contained &hall bind.. and the rights he:reuodc--r shall inure to, the respecti..'e successors and assigns of lender and Borrower,
<br />.ubject 10 lhe: provisions of paragraph 17 hereof. All covenants and agreemenls of Borrower shall be joint and several.
<br />The captions and headings of the: paragraphs of this Deed of Trus.t arc for convenience only and are not to be used to
<br />interpret or de1Ine the provisions hereof,
<br />14. Nodce. F,J;:cept for any notice reqUired un~r applicable law to he given ill another manner. (a) any notice to
<br />Il<>rrower provided for in this Deed of Trust .h.ll be gIven by maihng .uch notice by certified mail addressed to Borrower al
<br />the Property Address or at such other address as Borrower may designate by notice 10 Lender as provided herein, and
<br />[h) any notico 10 Lender shall be given hy cenified mail, return receipt requested, 10 Lender's address Slated herein or to
<br />such other addrcu _ilS Lender may daignatc by mltice to Borrower a$ provided herein, Any notice: provided for in this
<br />Deed of Ttu1t shall- be deemed to ha.ve been given to Borrower or Lender when liven in the manner designated herein.
<br />15, UaifGnn ns.!. of Trwsl; GOY_DC '-aw; Se....IIlIIty. Th.. form of deed of trust combines uniform covenanlS for
<br />national use and non..uolform c.()\fenautl. with IimJted v.arnuions by jurisdiction to constitute a uniform security instrument
<br />c"''''rinc real property. This Deed of Trust ,hall be governed by lhe law of lhe jurisdiction in which tbe Property is located.
<br />In the- event thAt any proviilOJ1 -or c1auae of this: Deed of Trust or the Note conllicts with appljcable- law, such conflict shaH
<br />not atfect other prov~ of thit Deed of Tfuat or the Note whrch can be g1"en effect without the conflicting provision.
<br />and to lhi, end the promions of the D<<d of Tl1lOt and the Note are declared to be severable.
<br />16.. .........<<1'.. Cop,. BOrrower .~II be f~ni5hed a conformed copy of the Nole and of this Deed of Trust at lhe lime
<br />of e.ecution or after rccordlIlion bereoL
<br />1,.. T........ of tile ~.~.....~ If aU or an)' pa:.r~ of thC'. Property or an interest therein is sold or transferred
<br />by Bon-ower without .Lenders prior written c-on~nc t,\dudmg ta) the creation of a lien or encumbrance :lubordinate to
<br />(his Deed of TfUlt~ (b) tM cn:ation of a PUf"Ctloc nlOoey securiry interest for ht.)wehold appliances. t,e) a transfer by devise.
<br />de&ceDl Of' by ~noo Qf law upon the deatb of a JOHH tenant or (d) the grant or any leasehold inter-est of three years or less
<br />!1(Jt com.min. an ~on t",1 purchase, t. cndet nUl)', at Lcrnkr's op!$on. d<<lare all the sums ,!iocurcd by Ihis Deed of Trust to he
<br />tmmcdiatdy -dua alld: payabk~ Lender shaH ha....e Vt'Alved $ucll optIOn to accelerate if, poor t-o the sale or transfer, Lender
<br />and the penon II.' whom the Property is to be :mid 0r tra.t1sferred reach agreement in writing that the credit 01 such person
<br />!! ~tis!actory tc.!~ and that fhe int::~ p.:iyanlr ,--'m tnc ,,"urn; t.e<;ur~ hy this [ked of Tnat sh.aH he at such fale as
<br />Lender -shall R:qtJrC$t~ If l.ender has waived the option to Keeterall! provided in this pant graph t 7. and if Borrower's successor
<br />in tAIt:R$t hu CXe4'Ut-ed a written auumption agreement aClo."'Cpted in writing by lender. Lender shall release Borrower from
<br />.n obliplions under this Deed of T nm .nd the NOlO,
<br />It 'Lender exetc:i$es $UCh option to 3ccderak, l.end-er shaU mail Borrower notice. of ac{,.--ele-ratlon in accordance with
<br />puagraph 14 hereof. Such nOlice shall provide. period '" nOl Ie.. than 30 da)'$ from tbe dale tbe nOlice i. mailed within
<br />whkh Borrower may pay the J-UIll;$ d<<:J.a.nd due. li Borrower hils fO psi)' :mch sums pnot to the expiration of s-uch period.
<br />Lender may. without tUflbc:r nOIiee Of den..nd on Borrowef. Invoke .nl' remedi", permitted hy paragraph 18 hereof.
<br />NON.UNlFOa.. Con....NH. !lorr_er and Lender furtbc:r covenanl and allft'e as follows:
<br />18. A~ It......... (,,<Cpt.. provided In ~ 17 .........,. u_ Bono..."r'. breacb of an)' covenanl or
<br />-' of .........or ill Ibis Deed "'T""". indlMllRK thr connants to pay w..... due IIBY 'WIll _Dred by Ihh Deed
<br />0{ Tnnl. 1.._ priot' 10 ~ lihaII mall _ice 10 Bono..... .. provided In paI1IpIlph 14 hereof .peelrYIn&: (1) tbe
<br />~; III thr adicno ~ to cu... .....If 1tftIodt; (311 dale. ftO\ leu than JO days from the date Ibe notke h mailed to
<br />..........or, by _.. ..... bftac.. ....... "" ..."ed; ...... 141 tbat fall1tu to '1Ue _.. b....... on or before tbe date spedfied
<br />III the ~ _ "'""" ill --.._ of ~ ..... ~ by Ihis IRed of Trmt and _ of the Pr6perty. The Dotke
<br />shall r..t1lIer iAf_ ....0...... of !tie ricltt 10 reiMtate aft... ",,_"loR and tlte ritbt to brine a court action to _rt
<br />Ihr _.xisIe8et of a ..- or ...~ otIm' der..... '" Borrower 10 IC"'loratlon and.>IIe. If Ibe broacb is not ......
<br />.... or bef_ "'" .... ___ In the i.ocke, Lendef' .. Letoder'. option _y d...... all of the .u.... ...u.... by this lletod
<br />of Tr.t to Ii<< ~y due and payaWo .."- further d_...... and may invoke Ihe po..er of sale and any other remedies
<br />~ l!y applkaIIle law. ,........ shall be ~ 10 .oIIed all r-.hle roots and u..._ lncuned in pursuing tbe
<br />-'""* ~ ill this.,..,...,..,.. fll. indBlIlBtI, "'" "'" _ 10, __ attorney', fees.
<br />If "'" ..- 0( ..a. is ill....... T_ shall -..rd 1 nolke of defaull in each counly in ...bleh lhe Property or :;ome
<br />pad ......, is .....-- ...... ...... mail ceples '" _ _ in thr _r p......rlbe<I by applkable law 10 Borrower and 10 tbe
<br />.......,..... ~ by ............Iaw. AfIN ~...... of ...eb 11..... ... may hr required by appIielble law. Tru>tee _Ii
<br />~. aoIiee of_ to !tle .....- ...... in tlte ___ _ribed by "pplicable I.... T..-. without demand on
<br />. .. .... oeII ~ ........." at pII/IIk .....Ji<m to lite hlt/>est bidder.. the ti_ and p1..e and ..nde. the I.,n.. designated
<br />'" dle.......,of._ In_ "'.... __ alilllk> _b ordu as T"",," may det~nnine, T_ may pOOpolk oale of all
<br />...aay f'M1'el at tIIe..........y l!y ,..,... _e_ at the ll_ atH! place of any prevl<>USly ochedtded......, '-mder or
<br />I.......... .........., ,....,.... Ihe Preperty at 81')' Ale,
<br />L1*o....... or ~ or tile ~ bid. TmsIeo sIIaII ddlver to the: ......c"-r Tn..t",,'s d<<d roove).1tl& the I'rope"Y
<br />.....oe TI!otrwltaa.hl me ~a dtetI. sIIaII hr prlaua fade ~,ldenc" of Ille lruth or I'" sl_ n_ 11tetei... Trustee
<br />.... .1.,.. .. me..,.,.,....... of Iloo ... .. IIoe folio..... ot'tIer. ial to all r.........w.. <_ and ~'. __ ..,~. . _. fflcl..dJng, bul
<br />.'........ ~'.,_oI__1ha \.> '" ~of~,_saleprlce. ",..._lI\lortltOy', f_......""""of lltleevidoft..,:
<br />\bl.........-..... .." thIil Dtedof.......: ...... {ellbe.."",",- if lllly, "'~ _ or per...... iepIIy entitltd Iller..o,
<br />i9.- ~...."..~. NotwltMlandin, lender's -ilCCCIt"filHOO ~lf t~ sums ~-ecured hy tht~ Deed of Tru">l,
<br />~. -..bail ba-ff' lite rifbt to..haw .ny pJ"(,",,;et"din-g:Ji beJun by Lender to C.ufof~e Ihill: Deed of Tru.''It dl'k'tllltinued at
<br />~.ti_'J>I'iot.tollle ~t(t....,..rof hi the1\fth d~ bef",~ the sale 01 the I''''pony ",.n..."llo lhe ""wer "f ",ic con"""'"
<br />......~<>l' TrU<\tlr(")~"'''f .jodan''''''c. ..forciog .hi. Deed ofTTUSl.jc tal !I0ffO,",," pay. tender.n SOlm ...hKh I"ould
<br />be dwm ..-'~ ~rn..l.)ced 9f lfllSl,. tbe N01C---iUld~,. \tXurul-& Future i\dv:atK."ti. If any, had no 3Cce~T~tl-OO ()C'C1.1ffcd;'
<br />U>l ~. '''.....atl "'-hc:s of any ",her cu__ or a_nl. 01 lI",,,,we. eoou""ed '" th" Deed of T,w.,
<br />,-c):, ~-,~,':at!:.~ tl"foplmtn i1k:u:n~d by (.endttr.:and <ff'tlS!ee in cnfnn:fn, t~ ~ov~nant$ u.~d ;sgr~t1H ("
<br />~'~.-lll-.thiJ.J?eed. ,;tt Ttml a~tf_d'm...C'Jtlot'l:l,,>>-.I...mdet':,. and TfU'l!t~'" r~les AS prfw,dcd. to p;;tr~r.aph 1:-1
<br />~> '~.bu1lli>tlDttiltd to, -.bIst OIl","",y', I"",,: .nd fdj!Jomo,"..,rtu"" "Ich ""tiotl .. lend... may re."",.bl\
<br />~~. J(t ~ 1-'-t.. Ut:u of {bit ,Deed of Trmt-. f..~f~'j mi.ere<<.,~" tl'w- Vf~Y' jt.nd nt'trro~'ef\ ~~bhgatIDn h' ptt\.
<br />
|