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<br />83- 005272
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<br />9. CGBdemnadon. 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, the proceeds shall he applied to the sums secured by this Deed of Trust,
<br />with the excess. if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing. there shall he applied to the sums secured by this Deed of Trost such proportion 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 Property immediately prior to the date of taking. with the balance of the proceeds
<br />paid to Borrower.
<br />It 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 Trost.
<br />Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal' shalf 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 />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 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 am6rtization 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 />11. Forbeal1llH:e by Lender Not a Waiver. 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 accelerate the maturity of the indebtedness ~ecur:ed by this Deed of Trust. . . . .
<br />11. Remedies Cumulative. All remedies prOVided In thiS Deed of Trust are distinct and cumulative to any other nght
<br />or remedy under this Deed of Trust or afforded by law or equity, 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 shaH 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 law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Deed of Trust sbaH 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 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 />Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />15. Uniform Deed of Trust; Governing Law; Severability. This fonn 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 Ihe law of the jurisdiction in which the Property is located.
<br />In the event that 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 be 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 />Hi. Borrower's 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. Traasfer of tbe Property; A58Umptlon. }f all or any part of the 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 Deed of Trust, (b) the creation of a purchase money security interest for household appliances. (c) a transfer by devise,
<br />descenl 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 Lcnder"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 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 Tmst shall he at such rate as
<br />Lender shaH request. If lender has waived the option lO accelera(c provided in this paragraph 17, and if Borrower's successor
<br />in interest has executed a wriuen assumption agreement accepted in writing hy 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 s.hall 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 lO 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-U NtFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />18. AcceJenlltion; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />ag.-eement of Borrower in this Deed of Trust, including Cbe COl'enants to pay when due any SUOtS secured by this Deed
<br />of Trust, l.ender prior to acceleration shall maD notice to Borrower as pruvided in paragrapb 14 hereof specifying; (1) the
<br />breacb; (2) tbe action required to cure sucb breach, (3) a date, not I.... than 30 days from the date tbe notice is mailed to
<br />Borrower, b)' which such breach must be cured; and (4) that failure to cure such breach on or before the date specified
<br />In the nolke may resolt in acceleration of the sums s"",ured by lhisDeed of Trusl aod sale of the Pruperty. The notice
<br />sbaU further iDform Borrower of the right to reinstate afCer acc.eleraCion and the right to bring a court action to assert
<br />the nun-exis1ence of a default or any other defense of Borrower to acceleration and sale. If the breach is not cured
<br />on or before tbe date specified in the notice, Lender at Lender's option may detlact all of the sums secured by this Deed
<br />of Trust to be immediately due aod payable without further demand and may invoke the power of sale and any other remedies
<br />permitted by applicable law. Lender shall be entitled to collect aU reasonable costs and expenses incurred in pursuing the
<br />remedies provided In this paracrapb 18, including, but nol limited to, reasonable attorney's f....
<br />If -the- ,owe.. of sale is invoked,. Trustee sball record B notice of default in each county in whkh the ProperCy or some
<br />parttilereof lslocated lIIld shall mall coples of such notice 10 tbe manner prescribed by applicable law 10 Borrower and to the
<br />otber persons prescribed by applicable law. After the lapse of such time as may be required by applicable law. Trostee shall
<br />give p:ubUc notice of uk. to the persons and in the manner preS('ribed by applicable law. Trustee, without demand on
<br />Borrower, shall sell t_ Propo:rty at public auction to tbe bighest bidder at the time and place and under the terms d..ignaled
<br />iD the l10tice of ,sale ia ,oae or more parcels and in such order as, Trustee mal' determine. Trustee may postpone sale of aU
<br />'" an)' paruI of tile property by pubtic announcement at lhe time and place of any previoosly scheduled sale. Lend.r or
<br />!.ender's ....... may plU'ci1Me the Property at an)' sale.
<br />Upon recflp! of payinent of tbe price bid, Trostee shall del;..r 10 the purehaser Trostees deed conveying the Property
<br />~. The~itaIA hI the Trustee's deed shall be prima facie evidence of the trutb. of tbe stalements made therein. Trustee
<br />ohaII....PI. .y y the. proceeds O.f the sale in. tbe. folloWing order: (a) tn all. reasonable C061s and expenses of lh. sale, Including. bul
<br />_ nllili..tto. TrU$tet~ fees of DOt more: than. _ % of the gross sale pdce, reasonable attorney's fees and costs of
<br />Iille erldeace; (bj t'! aD JqI~ secured by this Deed ..r Trust; and ic) .he eXcess, if any. to the person ur persons legally .ntitled
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<br />1.9. Borrower's RAlht to Itelnstate~ Notwiths-Ianding Lender's ~i.cceler~lljon of the sums secured by this Deed llf Trust.
<br />Borr(1W~r than ha-ve the r,-ht to hav_e any pf~ding,~ begun by Lender to enforce thia De-cd of Trust discominucd 111
<br />any- tia}e_iwior tQ the _e.nier to dcCtJf of (i) the fthh day before the sale or the p[uperty pursuant to the power of sale ct:lIltaincd
<br />in t"'Decd of Trull or Oi.)entf).o( -a judJmcnt enforcing Ibis ~ of Tmst if: (al Borrower pays Lender all sums which would
<br />be, IMtl: ,due undc-r thh t:leed o( TfUl'.t, the Note and ootCf. secunng Future Advances. jf a!lY~ had no olcccIeralion occurred;
<br />{bi Borfower C\Hn an. b-rt'-ac:hc$ t)f any other covenants rj,r agreements o-f Borrower \.':ontaincJ in thjs Deed (~f Trll:'.ot:
<br />{(;) Burrwwer _Jl'il,Yt_ -.11 fe~sollable- t\ptn5(5 incvrre,d by Lender and Tru.sfee in eliforcing the l,.:{}\'cllanl.'i and jigr~-cmenfs t}f
<br />BQrt'('JWtl' _C-<}fU3ttte-"J in thb Ikcd of Tru"t :anq U'l e,u(ordJl~ t.ende_rlJ .and Trmtee's remedies Wi p-nwidcd m paragraph j;':;
<br />~f. iQc-lUdintt bu.l _nt,n hmi_k-d (0" re'i$$Omlt;le ,flU-UHlCY', fe~~ !;lad (dj fk!rrower h-tkefO such a-ction a-l\ Lender n:av r:.;',i:l~.l[l..hh
<br />rcqutrc- tv ~te' tfwt lhe Hen of ton Dee,d or Tru1it, t .eruk.f"'S jil!~rc'jf 1I1 the pH)~'t:'ny and lhm"{1w"r's Hhhg~.1I(ll1 to p'J)
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