83006112 - Laserfiche WebLink

Browse

I 83--006112 9. CODdeDlnatlon. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of the Property. or part thereof, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total laking of the Property, the proceeds shall be applied to the sums secured by this Deed of Trust, wilh the excess, if any, paid to Borrower. In the event of a partial laking of the Property, unless Borrower and Lender othelWise agree in writing, there shall be applied to the sums secured by lhis Deed of Trust such proportion of the proceeds as is equal to that proportion which the amount of the sums secured by this Deed of Trust immediately prior to the date of taking bears 10 the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor olfersto.make an award or settle a cfaim for damages. Borrower falls to respond to Lender within 30 days after the date such notice is mailed, Lender is authorized 10 collect and apply the proceeds. at Lender's option, either to restoration or repair of the Property or to the sums secured by this Deed of Trust. Unless Lender and Borrower otherwise agree in writing. any such application of proceeds to principal shall not extend or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change the amount of such installments. .10. Bonower Not Released. Extension of the time for payment or modification of amortization of the sums secured by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to- release, in any manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be :required to commence proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Deed of Trust by reason of any demand made by the original Borrower and Borrower's successors in interest. 11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or otherwise afforded by applicable Jaw, shall not be a waiver of or preclude the exercise of any such right or remedy, The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedness secured by this Deed of Trust. 12.. Remedies Cumulative. AU remedies provided in this Deed of Trust are distinct and cumulative to any other right or remedy under this Deed of Trust or afforded bv law or equity, and may be exercised concurrently, independently or successively, . 13. Successon and AssigDS Bound; Joint and Several Liability; Captions. The covenants and agreements herein contained shan bind, and the rights hereunder shaU inure to. the respective successors and assigns of Lender and Borrower. subject to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and several. The captions and headings of the paragraphs of this Deed of Trust are for convenience only and are not to be used to interpret or de..fine- the provisions hereof. 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided fOf in this Deed of Trust shall be given by mailing such notice by certified mail addressed to Borrower at the Propeny Address or at such other address as Borrower may designate by notice to Lender as provided herein. and (b) any notice to Lender shall be given by certified mail, return receipt requested, to Lender's address stated herein or to such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in this Deed of Trust shall be deemed to have been given to Borrower or lender when given in the manner designated herein. IS. Uniform Deed of Trust; Governing Law; Severability. Thi!i form of deed of trust combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. This Deed of Trust shall be gov~rncd by the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Deed 01 Trust or the Notc conflicts with applicable law, such conflict shall not affect other provisions o[ this Deed of Trust or the Note which can be given effect without the conflicting provision, and to this end the provisions of the Deed of Trust and the Note are declared to be severable. 16. Borrower's Copy. Borrower shaH be furnished a conformed copy of the Note and of this Deed of Trust at the time of execution or after recordation_ hereof. I7~ Transfer of tbe Property; Assumption. If all or any part of the Property or an jott-rest therein is sold or transferred by Borrower without Lender's prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to this Deed of Trust, (b) the creation of a purchas..1ll1oney security interest for household appliances, (ei a transfer by devise, descent or by operation of law upon the death of a joint tenant or (d) the granl of any leasehold interest of three years or less not containing an option to purchase, lender may. at lender's option. declare all the sums secured by this Deed of Trust to be immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sate- or transfer, Lender and the person to whom the Property is 10 be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and that the interest payable on the sums secured by this Deed of Trust shall be at such rate as Lender sbaH request. If Lender has waived the option to accelerate provided in this paragraph J 7, and if Borrower's successor in-interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligations under this Deed of Trust and the Note. If Lender exercises such option to ac~ejerate, Lender shall mail Borrower notice of acceleraiion in accordance with paragraph 14 hereof. Such notice shall provide a period of nOl less than 30 days from the date. the notice is mailed within which Borrower may pay the sums declared due. If Borrower fails fo pay such sums prior to the expiration of such period, Lender may, without funher notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. NON-UNIFORM CoVENANfS. Borrower and Lender further covenant and agree as follows: 18. Acceleration; Remedies. Except as provided in paragraph 17 hereofl upon Borrower's breach of any covenant or agreement of Borrower in this Deed of Trust, including the co\'enllnts to pa):' when due any sums secured by this Deed nf Trust, l<e~r prior 10 ac~leration sball mail notice 10 Borrnwer us prov'ided in paragraph 14 herenf specifying: (I) the !Keacb; (2) Ibe action required In cnre sneh breach; (3) a date, not less thun 30 days from the date the nntice is mailed to Borrower, by wblch sucb breach must be cured; and (4) lhat f.llure to cure such breach nn or hefore the date specified In the notice may resull in acceleration of the sums secured by this Deed of Trust and sale of Ihe Property. The nOlice shall fmber inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non.exislence of a default or aDl' other defense- of Borrower to acceleration and sale. If the breach is not cured OQ 01' before the date specified in the "notice, Lender at Lenders option may declare aU of the sums ~cured by this Deed of Trust to be immediately due and payable w'ithout further demand and may in\'oke the power of sale and an)" other remedies pennitted by applieable law. l..ender shall be entitled to collect all reasonable costs and expellses incllrred in pursuing the remedies provided in this paragraph III, including, but not limited to, reasonable attorney's fees. If the powC!r of sale is invoked, Trustee shaD record it notice of default in each county in which the Property or some part tbereof is Jocat~d and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the otiter penoQ8 prescribed by applicable law. Afler the lapse nf such tiDle as ma)' be required by applicable law, Trustee shall give. public notice of sale 10 the persons and in the manner prescribed b}' applicable law. Trw.1ee, without demand on Borrower, shall sell the Propert). at public auction to tbe- highest bidder at the time and place and under the terms designated io the notice of sale in ODe or more parcels and in such order as Trustee may determine. Trustee may postpone sale of aU or _uy ....ceJ of the Property _ by public announcement at the time and place of anJ previously scheduled sale. Lender or l<endu's de5lcnee ....y pun:b...e tbe Property at any sale. Upon ret:eipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Propertl soW.- n.e recitals in tbe Trustee's deed shall be prima facie el'idence of the truth of the stat~ments made therein. Trustee sbIlII apply tit\! pro<:eeds of the sale in the following order: (a) In all reasonable costs and expenses of the sale, Ineluding, but _limited to. Trustee'. f_ 01 not more lhan ~1/2 ofl % of the gro'" sale price, reasonable attoroey's fe.. and cnsls of ~vHence; (1)) to all sums secured b)' tbis DeeiI nf Trust; and (c) the excess, if allY, In the person or persons legally entitled 19. Ionowers R..... to Reinstate. Notw.lhstanding Lender's acceleration of the :sum:\. secured by this. Deed uf Tru:t;t. Boff~wer ~U have'lhe right to have any proceedings begun by tender to enforce this Deed (.f Trust discontinued at any tLmc prior to the eartier to occur of (I) the fifth day before the sale i,)f fhe Property pursuant to fhe ~'q)wer of sale l't.mtained in thisDecd of TfUil or (ii) entry of a judgment enforcing this Deed of Trust if: la) Borro\'l.'cr pays l.enJcr all sllm~ whkh WOllld be then due llnder this. Deed or Trust. the Note and notes st'-curing Future p\dvance", if any. had no i.h:<:c)cration (l-Cl'urred: (b) 8orrower CU1"e$ aU brcach~ of any othef covenants or Hgreemcnt!'. of Borrower contain....d in this Dt;cd of Trust: (el Borrower pays aU reasonahle e:q>enses. ircurred by Lender and Trustee in enft)fCing the ;';ll\'.;n;~nts and ;'lgrc-c01cnt:i. l.,r (k)ffOwtt contained in thilJ Deed of Trust and in enforcing Lender's. and Tru~h:c's remedies a-r,; provideu in paragraph 11\ nerno-f. includiPS. but not limited to, rea~)nabf(o "-\-Unmcy's. fees; and (dl Born)we.t takt~s ~Hch aCllt)l, <1'ii Lt'nlkr I1U.1\' fCil\l\f\.;\hh require to aJ-,.Ufe that th.e, lien of this t:)eed of Tru~a, Lender'" inlerc--.t in tht: Prupt~rty ;md Rorrcf"\"t"f\ ohllg~finn to P;I\