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<br />,. CondelllDlIIfoD. The proceeds of any award or claim for damages, direct or conse!!~i~n cJJnQ~aL,Qny
<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 II", event of a total taking of the Property, the procee~s shall be 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 be applied to the sums secured by Ihis Deed of Trust such proportion of the proceeds
<br />as is equal to that proportion which the amounl of the sums secured by Ihis Deed of Trusl immediately prior 10 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 />I( tbe Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make
<br />an award o-r 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 tbe sums secured by this Deed of Trust.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shaH 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 R~IeMed. 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 />11. Forbearance 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 secured hy this Deed of Trust.
<br />12. Remedies Cumulative. 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 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 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 />interpret or define the provisions hereof.
<br />144 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 TnlSt shall 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 shaH 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 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 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 tbe Deed of Trust and the 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 the time
<br />of execution or after recordation hereof.
<br />17. Tnnsfer of the Property; Assumption. 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, 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 />descent or by operation of Jaw 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 all the sums secured by this Deed of Trust to be
<br />immediately due and payable. Lender shaH 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 shaH 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 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 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; Remrdies. E:lICept as providrd in paragraph 17 hereof, upon Borrower's breach of any covenant or
<br />agreement of Borrower in this Deed of Trust, including the co\'enants to pay when due any sums secured by this Deed
<br />of Trust, Lender prior to acceleration shall mail notice to Borrower as prol'ided in paragrapb 14 hereof specifying: (1) the
<br />breach; (2) the action required to cure such breach; (3) a date, not less than 30 days from the date the notice is mailed to
<br />Borrower, by which such breach must be cured; and (4) that failure to cure ,such breach on or before the date specified
<br />in tbe notice may result in acceleration of the sums secured by this need of Trust and sale of the Property. The notice
<br />shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert
<br />the non..existence 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, lroller at Lender's option may declare all of the sums secured by this Deed
<br />of Trust to be bnmediateJy due and payable witbout further demand and may iO\loke 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 paragraph 18. including~ but not limited to~ reasonable aNomey's fees.
<br />If the po"'er of sal~ is invoked, Trustee shall record a notice of default in each county in which the llroperty or some
<br />part thereof is located and shall m~ copies of such notice in the manner prescribed by applicable law to Borrower and to the
<br />other persons prescribed_by appUt.'8ble law. After the lapse of such time as may be required by applicable law, Tru~ee shaH
<br />give pubDc notice of sale 10 the persons and in the manner prescribed by applicable la~'. Trustee, without demand on
<br />Bonower, shall seU-tbe Property at public auction to the highest bidder at the time and place and under the terms designated
<br />in the notice of sale in one or more parceh and in such order as Trustee ma)' determine. Trustee may postpone -sale of aU
<br />or any _,.cel of the Property by public announcement at the time and pla(."e of a.ny previously scheduled sale. l...ender or
<br />I..ender's deslgnee may purchMe the Property at any >ale.
<br />Upon r_Ipt or payment or the priee bid, T.....t.., shall detiver to the purch",,,,r Truslee'. deed conveying the Propert~
<br />soW. The recitals In the Trustee', deed shall be prima facie e,'idenee of the Iruth of the statements made therein. Trust..
<br />shall apply the proceeds of the >ale in the following order; (a) to all reasonable c'OSts and expenses of the sale, including, but
<br />not ~,to,. TrUstee's fees of not more than 'h of -1% of the. gross sale price. reasonable aUorney's tees and co~1.S of title nidel1(''e;
<br />(b) In all $llJWj.-..red b.v lhis Deed ofTrus!; and (e) the ex......., If any. to the person ur persons legally entitled tbereto.
<br />19. _Bon-ower's Rieht to Rei.astat~. NotwithStanding Lender's acceleration of the !oHms secured by this Deed of Trw.t.
<br />Borrower -..hall have: the right h;l have any proceedings begun by Lender 10 enforce this Deed of Trust lhsconllnue~ at
<br />any time prwr to the earHer to occur of (i) the fifth day before the sale of the Property pursuant to lhe power of ~Ic .;ontalOed
<br />I'tl this Deed_ of Trwt or (ii) entr)' of il judgment cnr()r~ing thi'S Deed of Trust. if: (a) Borrower pays Lender all sums which would
<br />f:te then due under Ihis Deed of Trust. the Note and no1es securing Future Advanl.':es~ jf any. h.ad n(~ acceleration occurred:
<br />tb) Borrower cute5i aU breaches of any other covenants Of agreemenb of BorrQwet contamtd 10 thl~ Deed of Tru'ioL
<br />(c) Bom)wtf -pay. .U reusonuble expense!'. inturred hy Lender and Tf\l5te_e in enforcing the covenants. and ""grccmcnh pf
<br />(to.-rroWf::f cUl\:tained in this- ~-d of TnJs\ aod In enforcing Lender's und Tru~tee's rcmediej as pn.wided in paragf~ph IS
<br />her<<,f"..Jn<.'1udin,. but nOll-i.r,nit-i:d to, n:ilsuoabk aUomey's rce'i'~ unci (d) Borrower takes such actfon a~ LendC'1' m.tY n;.';l'oOonahJ~
<br />f"'Cq\fir.e t() auute. thaf the h~n nf thit: Deed of Tr-usl" Lender',,! interest If) the Propenj' and BnfTt'Jwer's. nh1ig.uhHl t.,~ p;t\
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