|
<br />r
<br />
<br />L
<br />
<br />I
<br />
<br />83- 006626
<br />
<br />!t. c........"... The proceeds of any award or claim for damages, direct or consequential. in connection with any
<br />condelllDation or other taIting of the Property, or part thereof, or for conveyance in lieu of condemnation. are hereby assigned
<br />and shall "" paid to Lender.
<br />lnthe_tofa total taking of the Property, the proceeds shall be applied to the sums secured by this Deed ,of Trust,
<br />with theu"","" if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise llJl'l!ein writing, there shall be applied to tbe sums secured by this Deed of Trust such proportion of the proceeds
<br />as is CqualIO Wt proportion which the amount of the sums secured by Ihis Deed nf Trust immediately prior (0 the date of
<br />tatingbeal:s to the fair market value of the Propenyimmediately prior 10 the dale oflaking, wilhthe balance of the proceeds
<br />paid to BOrrower.
<br />If the Property Is abandoned by Borrower, or If, after notice by Lender 10 Borrowerthauhe condemnor offerSto'make
<br />ana....rdor settle. claim for damages, Borrower falls 10 respond to Lender witbin 30 Gays after the datesueh.notke' is
<br />maiJed,Lenderioauthori7cd to collect and apply the proceeds; at Lender's option, either to restoration or repair Of the
<br />Propeny 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 shaUnote.lend
<br />~:cCi=~ts~ue date of the monthly Installments referred to in paragraphs I and 2 hereof or change the amount of
<br />to.. Bonewer-Not Relaled..- Bxtension of the time for payment or modification of amortization of the-sums.secured,
<br />by tbis Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release.in~anymanner,
<br />the liability of the original Borrower and Borrower's successorS in interest, Lendersball 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 />II.. Fol'lleanuo<< by Leader Nota Waive-:. 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 />TIle procurement of insurance or the paymeul of taxes or other liensnr charges by Lender shall not he a waiver of. Lender's
<br />right 10 acceIerale the maturity of the Indebtedness secured oy lhis Deed of Trust.
<br />12. Remedies Culllllllltlve.. AU remedies- provided in this Deed of Trust are distinct and cumulative 10 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. ~.nd AIIlpa Bound: Joint and Several Llabllity; Captions. The covenants and agreements herein
<br />contained shaU bind. and the rights hereunder shaU inure to, (he respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreemenls of Borrower shall be joint and several.
<br />The captions and beadings of the paragraphs of this Deed of Trust are for convenience only and are not to be used to
<br />interpret or de1ine the provisions hereof.
<br />14.. Noake. Exc-ept for any notice required unde:r applicable law to be given in another manner, (a) .any notice to
<br />Borrower provided for in this Deed of Trust shall be given "y mailing eucb n~ice by certified mail addressed 10 Borrower at
<br />lite Property Address or at such other address as Borrower may designate by notice to Lender as provided herein, and
<br />(b) any notice 10 Lender shall be given by certified mail, return receipt requesled, to Lender's address stated herein or to
<br />.uch other addraa as Lender may designate by nOlice to Borrower as provided herein. Any notice provided for in this
<br />Deed of Trust shall be deemed to have been given 10 Borrower or Lender when given in the manner designated herein.
<br />15. Ualforal Deed of Trust; GovemiDc 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 effec! without the conflicting provision.
<br />and to this end the provisions of the Deed of Trust and the Note are declared to be severable.
<br />16. ................ Capy. Borrower shall be lurni.hed a conformed copy of the Note and of lhis Deed of Trust at tbe time
<br />of execution or after recordation beteof.
<br />17. Traaofer of 1Ile~y; ~pdos. If all or any part of the Property or an Interestlherein is sold or, ..ferred
<br />by Borrower without Lender s prior written comcnt. cxcludin, (a) the creation of a lien or encumbrance SUboi Jinate to
<br />this Deed of Trust, (b) the creation of a purchase money .ecurtty interest for household applianc.., (c) a transfer by devise,
<br />descenl or by operation of law upon the dealh of a jOtnt tenant or I d) lhe granl of any leasehold inleresl of three years or less
<br />nOt containing an option to purchase. l.ender may. al Lender's option. declare all the sums secured by this Deed of Trust to be
<br />immedialely due and payable. Lender .hall ha\'e waived such option 10 accelerate if, prior to the sale or transfer, Lender
<br />and tbe person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br />i. satisfactory 10 Lender and WI lhe inter..t payable on Ihe .um. .ceured by this Deed of Trust shall be at such rate ..
<br />Lender shall req....t. If Leuder has waived the option to accelerate provided in Ihis paragraph 17, and if Borrower's succeasor
<br />in interest has executed.a written assumption agreement accepted In writing by Lender. lender shaH release Borrower from
<br />all obliptlons uncler this Deed of Trusl and the Note.
<br />lf lender exercises such option to accelerate. Lender shall mail Borrower notice of ac-ceJeralion in accordance With
<br />parasraph 14 hereof. Such notice sball provide a period of not I... Ihan 30 days from the date Ihe notice is mailed within
<br />which Borrower may pay the SUI\III declared due. If Borrower fail. to pay such sums prior 10 the expiration of such period,
<br />Leuder may. wilhout further notice or demaod on Borrower, invoke any remedies permitted by paragraph 18 hereof.
<br />Nol<-UN'FOIIM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />III. A~ RuIecIlea. F._pc.. prov""" in ............. 17 henol, npon Borrow.r's br...h of any cn.elllUlt or
<br />_, of I\onow.. in Ihlo Deed of TnISt. lncludiRII the connanls 10 pay when due any sum. aceured by this D..,!
<br />of TI1IliI. I..... prior 10 aeceIentIon 8haII mall notke to Borrow.r as provided in _raph 14 hereof .pedfylnc: (I) the
<br />........10: (211he IICtioa reqllired 10 cure .uch ........10; (31 a dal', nOl I.... than 30 days from the dot. th. notle. Is mailed 10
<br />............r. by whk:h ."d. ........h ""'"' he cured; and (411bat failure '0 cure sn<:h bre..h on or befnre the date .peeilied
<br />in the notkc ~ resuit In acceIeratloa of the .u_ secured by Ihls Deed of Tru'l and ..... of Ih. Property. Th. notice
<br />.w. tnlt_ inform Borrower of lhe riCkt to ",i_. after "c."ralion and th. rigbt to brl"ll a coult action to .....rt
<br />the _xlotetoce of a default or any oI"'r del_ of Borrow.. In aecei_ion and...... If lb. breach is nnt cured
<br />.... or W_ lhe date spedlied in lhe notkc, 1A:nde< al Lender's oplion may declare .11 of th. .ums secured by Ihls Deed
<br />of Tf1IOt to be --.uateIy ..... .... payable wllhon. tm1ller demand and may jo,.ok. the pow.r of sale and any oth.r remedies
<br />~ by ..........Iaw. Leader...... be entltied to collect all re......able eos'" and expe..... Incurred In p.......i"ll .he
<br />......... provided ia thit.......... III. iaehodlaa, but hOi Ilmlted to. ",-nabIe attomey'. f....
<br />B tlle,.._ of sale Is iuvaked, T_ _ reeonI a hOile. of defaull in each coumy in which th. Property or .nm.
<br />pan tlIenof Is loc:a1e4 .....siuIIl mall coplei of.~ notlee in the man...r prescribed by applicable law to Borrow.r and to Ih.
<br />odMor _ preKribed by appIleabIe law. After the Iapoe 01 SDCh ti_ as may he required by applicable law, Trustee .hall
<br />P" ......aoticIe of _ to the __ and in the man...r preo<:ribed by applicable law. Trustee, withoul d<mand on
<br />aa...-, siuIIl... the Property at poolIIie auctloa to tlte hichest bidder al lite time and place and under the ter..., desi!lnated
<br />in IIle ..... of .. ia _ or -.. parcels and iu .""It order .. Trustee may d.termine. Trust.. may poslpone ..... of all
<br />nr_.,..m of the ~y by pIIb/k _"'_ at lhe lime and pI..e of an)' previously ..,heduled .aIe. L.nder or
<br />Lender's ....... May .-..- the Property at _ saJe.;
<br />U- nceipl of pIQ_ of the price bid. Trustee shall deli... to the purd"",.r Trostee '. deed cooveyi.... lh. Pm"''').
<br />...w. n..~ iu the-rr-'sdeedshall be priraatade .vldence of the truth of the ai_ilia. mad< therein, Trust..
<br />slIaIltlflPl1 the ~ of the sail! in the f8/lowinJ order: tal to all ~ c.... and ............ of the.lOll<. including. hOI
<br />.. ...........1'nIoto!e.s ,..,.olnot_lItan 'Ii of I'l&ofthegna;o.... price. ................lIitomey.s f_andCOlllS of dUe .videa,,,;
<br />IloIlo aII_--..I'" lIaIs Deed of Thaol; and (c! the ex...... if any, tutbe per50ft or periUIIIi legally entitled thereto.
<br />It. ~...... Ie ~ Notwilhotanding l."nder', accderalio" of the .um. ",cured by this Deed of Tn"t.
<br />llorr"""" .obaIl haV<\ tile naht to have any pro.;eedlnas begun by Lender to enlo",.. this Deed of Tru.t discontinued at
<br />any_pritofto the earlier 10 ,,"ur ,>llilthe fifth da.' before t""...1e 011"" Propom' pursuant 10 tbe power of sale contained
<br />lu Ih3 DI!od 01 Tl1IOl <lI (.iJellltY of " iud&ment enfoldna Ihl. Deed of TltlSllf: tal Ilofrower pays Lender all sum. whIch woukl
<br />, lie Ibeo due 1lIllIoI'. lbil Deed of Trust. the Note and notes ....urillll Future Advances, .f any, had "0 .ccelera""" ",'curred;
<br />Ib) 1lQnow.,. ....... all breadteI; o( any Olher ;;<lv.mum or asreemenls of Borrow.1 .'ootained In this Deed of 1'ru,,:
<br />lclllorr_p*rsaU ..-blee,pen~ inwrred by Lender and Trust.., in enforcillll the coven.nts and agre.ments or
<br />~ cooJaitled in Ibis DMd of "Mt and in enforcing Lender', and Tru.I.... m1ledJe. as prQ.,tkd In p..agtoph I ~
<br />__f,~ but not Iimiled 10, noaaotlable. ....or""Y.. f...., andld) Bor,,_r Ial<.,. .ueh aelfon .. Lend.r may reasonably
<br />~,. 10: .0$lIt<< that-_ fM hen ():f th.. Deed ot "r,mt-, Lemk-r'$o Intet~-in the Property aod BOlt('lWcr's (lbli,.hOtl "l...1 pa)
<br />
<br />
|