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<br />. 83~ 005:337 83- u04504
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<br />. 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential. in connection wit~ 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 event of a total taking of the Property, the proceeds shall be applied 10 the sums secured hy this Deed of Trust.
<br />with the excess, if any, paid to Borrower. In the event of a parrial 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 Tnlst such proportion nf 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 10 the date of taking. with the balance of the proceeds
<br />paid to Borrower,
<br />If 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 slIch 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 Trust. . .
<br />Unless Lender and Borrower otherwise agree in writing. an~- ~uch application of proceeds to pnnclpal shall not extend
<br />or postpone the due dale of the monthly inst;tllmcnts referred t(l in paragraph!i I and 2 hereof or change the amount of
<br />such instaf1ments.
<br />10. Borrower Not Released. Extens.ion of the time for payment or modification of amortization of the sums secured
<br />by this Deed of Trust granted by Lender 10 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 n~~H be req.Ulr~d to commence
<br />proceedings against such successor or rctu$c to extend lime for paymen1 or otherWise modify am,ortll.atlon of. t~e sums
<br />secured by this Deed of Trust by reason of any demand made hy the original Borrower and Borrower s successors 10 Interest.
<br />I J. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or reme~y hereunder, or
<br />otherwise afforded by applicable law. shall not be a waiver of or preclude the exercise of any such n~ht or remcd~.
<br />The procurement of insurance or the paymenl of tax.es or other liens or charges by Lender shall not be a waiver of Lender s
<br />right to accelerate the maturity of the indebtedness sc>:urcd hy this Deed of Trust. . . . .
<br />12. Remedies Cumulath'e, All remedies provided in this Deed of Trust are d,stmct and cumulatl\'c [0 any other nght
<br />or remedy under this Deed of Trust or afforded hy !;lW or equity. and may be exercised concurrently. independently or
<br />successively. .
<br />13. Successors and Assigns Bound; Joint and Sever...1 Liability; Captions. The covenants and agreements herem
<br />contained shall bind. and the rights hereunder shall inure 10, {he respective successors and assigns of Lender and Borrower.
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall he joint and several.
<br />The captions and headings of the paragraphs of this Deed of Trust :\rc for convenience only and arc not to be used to
<br />interpret or define the provisions hereof,
<br />14. Notice. Except for any notice reqUIred under applicable Jaw to he given in anothcr 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 tn 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 hy certified nuil, 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. Unifonn Deed of Trust; Govt'rnin~ Law; Severabilit}'. This form of deed of trllst combines uniform covenants for
<br />national use .and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrumcnt
<br />covering real property, This Deed of Trust ~hall he 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 conniet shall
<br />not affect--other.:pro~isiMS<~of}~is. pee~_ of Trust or the Note which can he given elfect without the conflicting provision.
<br />and to thisend,the1'rO~isiollll'~~hC;CD~of Tru,t and the Note arc declared to be ,everable,
<br />16., BOITOwer'~t ;BqirQw~[.snalI'be furnished ;:\ conformed copy of the Note "nd of this Deed of Trust at the time
<br />of execution-,of;.a,(tc.t,.r,l4..C!ordation hereof.
<br />17. Tnlasier.C1l..tIte.PYu,eny; Assumption. if all t\r any part of the Property or an interest therein is sold or transferreu
<br />by Borrower without Lender's prior written coment. excluding (a) the creation of a lien or encumbrance suhordinale to
<br />this Deed of Trust. (b) the creation of a purcha~e money securily interes( for household appliances, (c) a transfer by devise.
<br />descent or by operation of law upon the death of a joint lenant or (d) the grant of any leasehold interest of three years or less
<br />not containing an option (0 purcha~. Lender may, ;1t ~.enders option. declarc 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 f>old or transferred reach agreement in writing that the credit of slIch perSt'll
<br />is satisfactory to lender and that the interest p'lyable on the sums secured by this Deed of Trust shall be at such ratc 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 wriuen assumption agreement accepted in writing by Lender. lender shall release Borrower from
<br />all obligations under this Deed of Trust and the, Note.
<br />H Lender exercises such option to aCl.:derate. Lender shaH mad Borwwer notice of acceleration in accordance Wilh
<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 p:\y such sums prior to the ex.piration of such period,
<br />Lender may. without further notice or demand on Borwwer, invoke ;.lI1y remedies permitted by paragraph 18 hereof,
<br />NON-UNIFORM COVENANTS. Borrower and I.ender lurthe( covenant and agree as follows;
<br />18. Acceleration; Remedies. Except 3.... prm-'ided in paragraph J 7 hereof, upon Borrower's breach of any (:o"'cnant or
<br />agreement of Borrower in this l>eed of Trust, indudin~ the co\.enanls to pay when due any sums secured by this Deed
<br />of Trust, Lender prior to acceleration shall mail notice to Borrower as pro\'ided in paragraph 14 hereof specifying: (1) the
<br />breach; (2) the action required 10 (:lIre such breach; (3) a date, not less Ihan 30 days from the date the notice is mailed to
<br />Borrower, b)i which such breach must br cured; and (4) that failure to cure stich breach on or before the date specified
<br />in the notice 1113)' result in ac{'cleration of the ~ums securl'd by thi~ need of Trust and sale of the Property. The notice
<br />shall further inform Borrower of the riJ:ht 10 reinstate after acceleralion and the right to bring n court action to assert
<br />tbe non-exi'itence of a default or 3n). other defense of Borrower to acceleration and sale. If the breach is not cured
<br />on Of before the date specified in the notice, Lender at Lender's option may declare aU of the sums SN:ured by this Deed
<br />of Trust to be immediately due and payable withouc further demand and may invoke the pon.er of sale and an)' olher remedies
<br />permittt"d by applicable law-. l.ender shall be entitled to coiled all reasonable l.:osts and expenses incurred in pursuing the
<br />remedies pro\.ided in this paragraph 18, includin~. but 110C limited to. rensonable atlorncy's fees.
<br />If the power of_ sale is in,,'oked, Tru..'ite-e shall r('curd a "atke of default in c3(:h COUll I)' in which the Propert)' or son.e
<br />part thereof is located and shall mail copies of such notice in the manner presnibed by applicable la\\: io Borrower and to the
<br />other penon-s pftscrilk.'d by applicable law. Afler the lapse of such Hme as may be required by applicable law, Trustee shall
<br />give pubUc notice of- sale to the persons and in the manner prescribed by applicable la\\'. Trusiee, wiihout demand on
<br />Borro",er1 sbaD sell the 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 parcels and in such order as TnlStcc may determine. Trustee ma)' postpone sale of aU
<br />o.r any parcel of the Property by public announcement at the time and place of an)' previousl)" scheduled sale. Lender or
<br />Lender's -des!&nee may purchase tbe Property at any sale.
<br />Upon re~ipt of- payment of the price bid, Trustee shall deliver 10 the purchaser Trustee's deed l'onvcjing the Property
<br />'SQld. Tbe- recitals iQ the Trustee's dud shall be prima fade_ evidence of the truth of the statements made therein. Trustee
<br />shaD apply the proceeds of the sale in the foUowin~ order: (a) to all re~onabJe costs and expenses of the sale, including, but
<br />not Umited to, Trust<<'s fees of not more than , % of the gross sale price, reasonable attorney's fees and costs of
<br />title evideDC'e, (b-) to aIllUm.5 secured by this Deed of Trust; and (c) the excess, if any, to the person or persons legnlly eutitled
<br />~relo.
<br />19-. Borrowers RitJbt to R.l:intiJatc. Nolwlth5tanding Lcnder'-s acceleration or the ~ums sCl.:urcd by this Deed of Trust,
<br />Bon?wer !i~an have the, fight 10 ha!(c any proceeding" begun hy Lcnder to cnfon':l: thi:" DecJ of Trust dj~l.'ontinucd at
<br />~ny ~I~C-, ~f1or to- the car.her to occur of (I) -the fifth uay hefore the sale of the Propert)" pursuant to the power of sale contained
<br />U1 thts, Deed 'Of Trust f?f (It) entry of a jtuJgment i..'n(or..-:ing lhis Deed of Trust if: (a) Borrov.cr pays Lender all f,.U!llS which ",Ollld
<br />be: th~n due under Itus Deed or Tru~t. the Note ~nd tlOle~ securing Future Ad\'ance-s. If afl}". hdd no aCi.:clcration occurred:
<br />(il) Borr'Q-wer cures. all hrC3l;"hes Of any Ulnct ,:o......n<tnh. ur 3greemt'-nb or Borrower contained ill this Ol..'"cd of Trus.t.
<br />fC) Bor~ow(:r pay" -aU rel1\onable e'.pcfll>("!> in-':Hrff:d by L.cmicr ;:md Trll~tcc in cnf0ftJng the (l.)ycn;1oh and <lgn:-cm~n!s ll(
<br />Botlrt)....,.~r c\m~aifted .in tbi~ l~d of Tru..t iHl-d In c-nfo-a::ll1g Lender\. .and Trll~!c,c\ n:ml,'dl~S ;1'; proVlued in paragr~lph 18
<br />h....f~Qt, mdud~n-g. bm nut hrtHtt-d to, r(':a~~nal;\h: .1UnmCy \, fee.., :1nd (J) Borrower tak~" 'itl<.:h :.lC,H,'H ,I$. Lender mav re"-!sollabh
<br />tt'I!H-if( h~ "'~M,lt\!: thisit t~ hcn -pf thu, Oc!.'<1 of TtH"i-t. Lender'.. intCfe\, in rhe pfl.}p~rt~ ~H1J BI)rr',,\.,-<:r'..; oblig~ti('n t\l pa)
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