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<br />83- 005276
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<br />9. CondemnadoD. The proceeds of any award or claim (or damages, direct or consequential, in connection with any
<br />condemnalion or other takiog 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 Iotaltaking 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 Bo~rower an~ 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 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 a.mower.
<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to m~e
<br />an award _ or settle a claim for damages, Borrower fails to respond to Lender wilhin 30 days after the date such notice 1S
<br />mailed, Lemler 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 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 10 in paragraphs I and 2 hereof or change the amount of
<br />such installments.
<br />10. Bono'Wer Not ReJeasecL Extension of the time for payment or modification of amortization of thl? sums secured
<br />by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to relea.se, In any manner,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall not be reqU1red 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 an)' demand made by the original Borrower and Borrower's succes_sors in. interest.
<br />11. Forbe.~e by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shan not be a waiver of or preclude the ex'ercise of any such right- or remedy,
<br />The procurement of insurance or the payment of [axes or other liens or charges by Lender shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Deed of Trust, .
<br />12. Remedies Cumulative. AJI remedies provided in this Deed of Trust are distinct and cumulative to any other fight
<br />or remedy under this Deed of Trust or afforded bv 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 herem
<br />contained shall bind, and the rights hereunder shalt 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 shall be given by mailing such notice by certified mail addressed to Borrower at
<br />the Property Address or ar such other address .as Borrewer may designate by oorice 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 fDr 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 />IS. Uniform Deed of Trust; Governing Law; Severability. This form of deed of trust combines uniform covenants for
<br />national use :lod nonMuniform covenants with limited variations hy jurisdiction to constitute a uniform security instrument
<br />covering real property. This Deed of Trust shall he governed by Ihe law of the jurisdiction in which the Property is located.
<br />10 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 wi thou I. the conflicting provision.
<br />and to' this end the provisions of the Deed o( Trust and the Note are declared to be severable.
<br />16. Borrower's Copy. Borrower shalt be furnished a conformed copy of the Note and of this Deed of Trust at the time
<br />of execution or after reeordation hereof.
<br />17. Transfer of the Property; AiSUmption. If aU 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 crealion of a lien or encumbrance subordinate to
<br />this Deed of Trust. (h) the creation of a purchase money security interest for household appliances, (c) a transfer by devise,
<br />descent or by operation of Jaw upon the death of a joint renaot 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 all the sums secured by this Deed of Trust to be
<br />immediately due and payable. Lender shalt have waived such option to accelerate if, prior to the sale or transfer, Lender
<br />and the person to whom the Property is 10 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 rhis 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 obligations under this Deed of Trust and the Note.
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provid~ a period of not kss than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums declared due. If Borrower fails to pay such sum:s prior to the expiration of such period,
<br />Lender may. without further norice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof.
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<br />NON.UNIFORM COVENANTS. Borrower and Lc-nder (urther covenant and agree as follows:
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<br />J8. At:t:eleraUon; Remedies. Except as provided in paragraph 17 hereof, upon Bonower's breach of any covenant or
<br />agl'ftAleot of Borrower in this Deed of Trust, induding the covenants to pay when due any sums secured by this_ Deed
<br />of Trust, Lender prior 10 accoleration shall mail notice 10 Borrower as provided in paragraph 14 hereof specifying: (1) the
<br />""",,h; (2) the action rtquired to cure such breach; (3) a date. not I.... than 30 days from lhe dale the notice is mailod t&
<br />Borrower. by which such breach must be: cured; and (4) that failure to cure such breach on or before the date specified
<br />ill the no'~ OlIIy result in .tce~ration of the sums secured by this Deed of Trust and sale of the Property. The notice
<br />shall furtbc:r iaform. Borrower of tbe right to reinstate aner acceleration and the right to bring a court action to assert
<br />the .non-exisleace of a default or an)' other defense of Borrower to acceleration_ and sale. If the breach is not cured
<br />OD. or_before- tk date specified-in the IIf;)tiCt', Lemler at Lender.s option may declare all of the sums secured by this Deed
<br />of Trust to be immediately due and payable without furthet' d-tmand and may invuke the power of sale and an)' other remedies
<br />permitted by applkable Jaw. Leader shall be entitled to coUed all reasonable costs and expenses incurred in pursuing the
<br />remedies prol'ided in tbis paJ:agraph 18, including. but not limited to~ reasonable attorney's fees.
<br />If tH_ power of saI:e- is invoked, Trustee shaD record a notice of default in each county in whkh the Property or some
<br />part thereo( is I<>cated and shall mail copies of such notice in the muner prescribed by applkable law to Borrower and to the
<br />other ~nollS ~ by appIieabh> law. After the lapse of such time as may be rtquired by applicable law, Trustee shall
<br />gi~e pIIb1ic nolk:eof sale 10 the person.s and in the manner prescribed hy applicable law. Trustee, without demand on
<br />80n0Jrer~ sIudIidI ,(he-Property at public auction to the bighest bidder- at the time and ptact! and under the terms designated
<br />ia t~ notice of .sale ,in uoe or more parcels- and in such order as Trustee may determine.. Trustee may postpone sale of all
<br />Mall,)'pa/:Cd of the Property by public announcemenl at the time and place of any previously scheduled sale. Lender or
<br />Lender's......... may ~ tb. Property at any sale.
<br />v...... ~lpt of payment o( the price bid, T~stee shall de!her to the purchaser Trustee's deed con.eyiug the Property
<br />ooId. Tlie....,italJ In the. Truslee'sdeed shall he pnma facie eVidence o( the truth o( the stalemeuts made therein. Trustee
<br />_Ihl'pt,ytheproceeds uf the sale inlhe followin& order: (a, to all reasonable costs and oxpenses of the sale, including, but
<br />.._~ to._Trus~ts fees of ROt more tban_1.....9_ ~ _ _ ~_ % of lite gru5S sale prite, reasonable attorney's fees. alld costs of
<br />~lH:e;l1t) to alt....... _..red by this Deed of Trust; and (c) the eor.... if any, tu the person or persons legally entitl.d
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<br />19. aon-.... RItIIlt to. Reinstate. Notw,tlutanding Lender's acceleration {If the sums secured by this Deed of Trust,
<br />8ot:r0'",~ s!taU ha'fe_ the ,right to have any pnx:eedings begun _ by Lender to enforce this Deed of Trust discontinued at
<br />an)'~imep<iotlO the carl.ier to occur of (i) the fifth day before the sale of the Property pursuant to Ihe power of sale contained
<br />10 tb.ts.,o.-a. .:ofT.r..u.st. '~(. ".) entry Of a Judament tnforcJn& rhfS ~ of Tntst if: (a) Borro~cr pays Lender all sums. which would
<br />,he. tbcJ:I due- undct du-a Deed of Trust,~ ~he- N-ut-e and note.s seclLrlng Future Advances. If any. had no acceleration occurred:
<br />(b) ~-OYt-:er _CUfC$ aU utea.C-hcs. nf any other covenants or agreements of Borrower -contained in thi!'. Deed ()( Trust;
<br />(c:) BQtruWi:r pa~.n reiU{)n~e, ,e,,-pemes incurred by' Lender and Trusu:.e in enforcing the_covenants, and agreements of
<br />8cn'ruw~r (:-on~aintdj-n th:~ ~d oc'rrust. and in enfor,cing Ltnder's and Tnt..'itc-e'S. rcmedit$ as. provided in p\lragraph IX
<br />~~~-~_" but ~~ h~ned -to, _r~Jlable ath)r~ley s fees; and {d} B'!rrower lakes such aCUOO as Lender may .r-ea~()nabIY
<br />ItqU_1_lQ _,"wfJ:_th.t the l.e-n oC thit,- Oee.d_of T-fus.t. lendu'!f. inte'-lc'S.t m lhe Property and RQrrower\ ()bligation to p.l;
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