<br />83-- 0062'12
<br />
<br />~'T-"'~
<br />1
<br />
<br />9. Condemnati_on. The proceeds 'of <lOY award or daim ror damages. direct or consequential, in connection with any
<br />condemnation-'or-other taking of the Property, or parllhereof? or for conveyance in lieu ot condemnation, are hereby assigned
<br />and shaW be paid to Lender.
<br />In the event 01. toto,l t.king of Ihe Property, Ihe proceeds sh.1I be applied 10 the sums secured by this Dccd of TruS!.
<br />wit.h' the. txCes's, ,jf any~ paid to Borrower. In the event of a partial taking of the Property. unless Borrower and Lender
<br />orhe=twisc"a8Tccin- writing;lhere sh:tll be. applied to the sums -secured by this Deed of Trust such proportion of the,- proceeds
<br />as ~s',~q~altothat-proportion which the amount -of the sums secured by-this Deed of Trust immediately prior to the date of
<br />(aking);)~ar$:-to ,the fair market value of the: Pro-perty immediately prior to the date of taking, with the balance of the proceeds
<br />paid,-t9_- B'Oqower.
<br />If the- Property is abandoned by Borrower. or if. after notice by Lender to Borrower that the condemnor offers to make
<br />an-'a,ward- or' settle a,cJ_aim 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 oplion. either to r-estoration or repair of the
<br />Property-or to the slims secured by this Deed of Trust.
<br />Unless'Lcnder--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 to in p.aragr::lphs J and 2 hereof or change the amount of
<br />such - instaJlmenlS.
<br />10. Borro-w~r Not Released. Extension of the rime for payment or modification of amortization of the sums secured
<br />by (his peed of Tf\.!st granted by Lender to ::tny successor in interest of l3orrowcr shalt 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 dem::!.nd made by the original Borrower and norrower's successors in interest.
<br />H. Forbearance by Lender Not a \Vaivcr. 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 shan 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 Cu,mulative. AU 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 />successivc-ly"
<br />13~ Successors and Assigns B()und; Joint and Severdl Liahility; Captions. The covenants and agreements herein
<br />contained shaH bind, and:,the rights hereunder-shaH inure lO, the respective successors and assigns of lender and Borrower,
<br />subject to the provisions ~ par~g~aph"._Tl, ,:hcreof. All -covenarits",and ~Igrecmcms of Borrower shall be joint and several.
<br />The' captions and headings of the pn:ragrn(ms of this Deed ofTrusl. are for convenience only and arc not LO be used to
<br />inte-rpret or- define the provisions hereof.
<br />14. Notice. Except for any notice required umler applicablc Jaw 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 norice by certified mail addressed to Borrower at
<br />the Property.Address or at such other address as Borrower may designalc 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 10 Ilarrower 3S provided herein. Any notice provided for in this
<br />Deed of Trust shaH 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; Severabilif)'. This form of Lieeel of Irust combines uniform covcnants for
<br />national use and non-uniform covenants with limilcd 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 ProperlY is located.
<br />In the event that any provision or clause of this Deed of Trust or the Note confiids with applicable law, such conllicr shall
<br />nol affect other provisions of this Deed of Trust or the Notc which can be given effect without the connicting provision,
<br />and to this end the provisions of the Deed of Trust and the Note are declared 10 be severable.
<br />16. Borrower's Copy. Borrower shall be furnished ::\ conformed copy of Ihe Note and of this Deed of Trust ar the time
<br />of execution or after recordation hereof.
<br />17. Transfer of the Property; Assumption_ If all or .my part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior wriuen consent, ex.cluding (a) the creal ion of ::1 lien or encumbrance subordinate to
<br />this Deed of Trus~. (b) Iht: creation of a purchase money security inlerest for hous,chold appliances, (c) J. transfer oy devise.
<br />descent or by operation of law \,;.pon the .death of a joint tenant or .( (0 the grant of any leasehold ihterest of three years or les:l
<br />:*ot containing an option to purchase, LCI~der may. :It Lenders: opuon, ~.cclarc ulllhe sums secured )lY this Deed of Trust to be
<br />Immediately due and payable. Lender shall have waived such option to accckralc if, pdor to t.[te,sc~1.I~:..OLJransf~-r; 1;-;ender
<br />?-nd the person to whom the Property is to be sold or transferreu reach agreemenl in writing.thaLthe credit of sueh':i?erson
<br />IS satisfactory to Lender ;:md that the interest payable on the sums secured by lhis Deed-";o{ 1)uSt ,.shaff be-"-at. such_~:Olte ~s
<br />lender shall request. If Lender has waived the option lO 3ccclerale provided in this paragfapn..r1.:n.o1I"}f~:r!~~_er''$:-Sij~~~or
<br />in interest has executed a \vriUen assumption agreement accepted in writing by Lender, Lender shall release llorroweyftohl
<br />all obligations under this Deed of Trust and the Note.
<br />If Lender exercises such option to acceierate. Lender shall mail Borrower nOlice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shall provide a period of nO{ less than 30 days from the dute the notice is mailed within
<br />which Borrower may pay the sums -declared due, If Borrower fails 10 pay such slims prior to the expiration of such period,
<br />Le,nder may. without further notice or demand on Borrower, invoke any remedies permitted by paragraph J 8 hereof,
<br />NON-UNifORM COVENANTS. Borrower and lender further coven;:Hl( and 3grce as fOllows:
<br />18. Acceleration; Remedies. Exce.pt as provided in paragraph 17 heroof, upon Borrowers breach of any covenant or
<br />a~rcemc:nt of Borrower in this Deed of Trust, including [he covenants to pay when due noy sums secured by this Deed
<br />of Trusl, Lender prior to acceleration shall mail notice to Bor-ower us pro\'ided in paragraph 14 hereof specifying: (1) the
<br />breach; (2) the action required 10 cure such breach; (3) a date, not Il>ss than 30 days fronl the date the notice is mailed to
<br />Borrower, by which such breach must be cured; and (4) .hal failure fo CUfe such breach on or before fhe date specified
<br />in the notice may n:sult in act"cleration of the sums secured by this need of Trust and sale of the Property. The nofice
<br />shaU further inform Borrower of the right to reinstate after acceleration and Ute right 10 bring a court action to assert
<br />lite nODaexistence of D default or au)' other defense of Borrower fo :u:ceJcration and sale. If Hu~ breach is not cured
<br />on, 0: be:{o~ ~he date specLfie:d in the nolke, Lender a( Lender's option may declare all of the sums secured h}' this Deed
<br />of Trllst to be immediately due and payable without further demand and may im'oke the power of sale and any other remedies
<br />permiUed by applicable Jaw. Lender shall be entitl("d to collect all reasonable l"Osts and c;tpenses incurred in pursuing the
<br />remt'dics provided in tltis par.lgraph 18. indudin~, but nol limited '0, reasunable ::lltoiney's fces.
<br />If the power of sale is invoked, Truslee shall record a notice of default in each county in which Che Property or some
<br />part tbereof is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the
<br />other pe_rsons prescribed by applicable law. After the lapse or such rime 3S may be required by applicable Jaw, Trustee shaU
<br />gh'c public nolice of sale 10 rhe persons :md in fhe manner prescribed _ by applicable law. Trustee, wilhou' demaud on
<br />Borrow~r. shall sell the Property at public auction to the highesl bidder at (he time and piacc and under rhe terms design:lfed
<br />in, f~c noHce of sale in one or more pa.n:cls and in .such order as Tnlstee may Gct~rmine. Trustee may postpone sale of all
<br />or any parcel of the Property by public announcement at the time and place of any previously scheduled sale. Lender or
<br />Leml~rs-desjtnee may purch~e the Property at any sale.
<br />UPtll, recdp"o~ pa}"menf of the price bid, Trustee shull deliver to the pun:huser Trustee's deed conveying the Property
<br />s-old4 The- reciutls-_ in the Trustee's deed shall be prima facie e'l'id('ncc or fhe truth of the statements made therein. Trustee
<br />shan apply the prQ-cceds 0-( the sale in the rol1owin~_ order; (;1) to aU reasonable costs and ex.penSl:s of fhe sale, including, but
<br />no-t,1i~ed tQ, Trustc_c'$ fees of nOI mure than. _ ,,ptL. _ % or rhe gross .sale prke, reasonable aUorncy's fees and cost.s of
<br />.itlcLe:ride-~~; (Q-) tu ,aU $UR\5 set.ured by this Deed of Trust; and (c) fhe excess, if ::my. 10 ihe- person or persons legally enlitled
<br />tb""to,
<br />nt Borro~er-s-RIght.to,.Reinsfate. Notwi-thstac:ding Lender's ac>.::elcr:'Hlnr~ o( the su'!'s secured by this Deed l~[ Trllst.
<br />~rrowef shaH. have tbe ngpt to- have any proceedings begun by Lender 11) enforce thiS Deed or Trust discontmued ,;It
<br />~ny_~imc p(lor lo_the e.at~.ier to (X,:curpf (i) the fifth J.~y bcf~n;: the sale or ltu: Property pursuant to the power of sale contained
<br />1ft .-llts _Decd Q( Trustor (Il) entry of a JtHlgmcfH enfon:ul& lhls Di:cd of Trust ,f; (a} Borrower pays Lender all sums which would
<br />~e. th~~.d.ue_ under tht!j lkeu of Tros.t, the Note ;\00 Iloles sc<:utiog Ft!turc Advances. if an)'. hat! no ;:"H::r:denlll(}fl u(,:cuncu:
<br />~b) Uu,rrower cures_ aU breaches of :lllY olher covenants Of" asreements of Dorrower contained in thi~ Deed of Trust;
<br />\_\;) Burrower pa.)'~ all lcnsofl3b1e npenscs IUCllfftd by Lender and Trll$Jcc in _~llfttrdng the; cOvi;nanl$ ~n~ agr("cl1lcnt~ (,f
<br />norr:~;".!r ton;_~ined in ,_thi~ (ked of Tri!~{ ;HHl in enfor,dl1g Lender's. ,wd TrusH:'c':;; n:mcclics .as provided In puragf<-lph 1 B
<br />h:e.re,?~, wciudtog.. but fH,1t 1:-t'nf~td tv. ,.eoi~of\ablc llltomcy s (cc~; j)nd Cd) Borrowl!:f takes such nCilOl1 as Lt.':utlcr may rt~ils-onablj
<br />fcqutfe to aUUf-'e ttr.:&t the tu~.n 0-f tAtS J.R:;;:-J of TruM. Lemle.r's intel'C_"-! in !he l'ropeny and llnrrower's ohlig:uion to P;l}'
<br />
|