|
<br />r-
<br />
<br />8' '"
<br />'..:i~..
<br />
<br />006702
<br />
<br />9. Condemnation. The proceeds of any ;:n\,'ard or ((aim for damages, direct or consequential, in connection with any
<br />condemnation or other laking of the Property. or parllhereof, or for (:onvey:mce in lieu of condemnation. are hereby assigned
<br />and shall be paid to Lender.
<br />In the event or a IOlal taking of the Property. the proceeds shall he ~lppJied to the sums secured by this Deed of Trust,
<br />with the excess, if any. paid to Borrower. In the event of a par1ial takin.g of the Property. unless Bo~rower and Lender-
<br />otherwise agree in writing, there sh.tll be applied to the sums secured by thiS Deed of Trust such proportion of the proceeds.
<br />as is eq~aJ to that proportion which the amount of the sums sccured by this Deed of Trust immediately prior to the date-of
<br />taking bears 10 the fair market value of the Property immediately prior to the date of taking, with the balance of We proceeds
<br />paid to Borrower.
<br />If the Property is abandoned by Borrower, or if. after notice by Lender to Borrower thar the condemnor offers _to make
<br />~n award or s.ettle 01- dalftl for damages, Borrower tails to respond to Lemler within 30 days after_ the date such notice is
<br />mailed, Lender is authorized 10 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, any such application of proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount -of
<br />sueh installments.
<br />] O. Borrower Not Released. Extension or the time for payment or modification of amortizati~n of the sums. secllred
<br />by this Deed of Trust granted by Lender to any 5Ucccssor 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 lhe sums
<br />s-ccured by this Deed of Trust by reason of .IOY demand made by Ihe original Borrower and Borrower's successors'in interest.
<br />11. Forbearance by Lender Not a \\'ahi~r. An)' forbearance by Lender in exercising any right or remedy 'hereunder, or
<br />otherwise afforded by applicable law, ~hall not be- a waiver of or precJude the exercise of any such right or remedy.
<br />The- procurement of insurance or the payment of laxes 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 by Ihis De-ed of Trust.
<br />12. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct ~md cumulative 10 any orher right
<br />or remedy under this Deed of Trust or afforded by law or equilY. :md may be exercised concurrently, independently or
<br />successively_ .
<br />13. Successors and Assigns Bound: Joint and Sev~ral Liability; Captions. The covenants and agreements herem
<br />l.'Ont:.tined shall hind, and the rights hereunder shall inure to. the respcctive successors :tnd assigns of Lender and Borrower.
<br />subject to the provisions of paragraph 17 hereol. All covenants and agreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Deed of Trust arc for {,;onvcnience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />14. N-ollt'-e, Except for any noti(~ lcqwfed under ~Ippli(.'ahlc I;lw to be given in ;mothcr manner, {a) ;lny notice to
<br />Borrower provided for in this DeeD of Trust shall be gwcn by O1;liling such notice by certified mail addressed to Borrower at
<br />the l)roperty Address or at such other address. as Borrower may dcsignntc by notice to Lender l:lS provided herein, and
<br />(h) a.n}' notice 10 Lender shall be given oy certified mail, return receipt rcquesicd. to Lender's address stated herein or to
<br />such otner address as Lender may designate by notice 10 Borrower as provided herein. Any notice provided for in this
<br />Deed of Tru~t shall be deemed to ha\'c ~cn 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 Irus! combines uniform covenants for
<br />n-ationai u~e :m-d non-uniform covenants with limIted variations h)' jurisdiction In constitute a uniform security instrument
<br />covering real property. ~i~ Deed of Trust shall hc govcrned hy the law of the junsdictjon in which the Properly is located_
<br />In the event that any- pnwlslon or clause of this Oeed of Trust or the Note conflicts wilh applicable law. such conflicl shall
<br />mH aUee! other p-rovisiom. ot lhis Deed of Trus! or !he Note which can he given effect without (he conflicting provision.
<br />and lO this end the provislons of {he Deed 01 Trust and the Note ~\rc declared to he severable.
<br />16. Borrower~s Copy, Bonowec shall be furnIshed a conformed copy of tht:- Note and of Ihis Deed of Trust at ~: . 'ime
<br />of execution or after recordation hereof.
<br />11. Transfn of th--e Propeny; Assumption. If all {If any part of the Property or an interest therein is soid Of Iransfcrred
<br />tn' Borrower without Lender's prior written consent. excluding (.1) the creation of a lien or encumbrance subordinate to
<br />lhis Deed o( Trust, tb) the creation of a purchase money sct:mity inlerest for ho~sc.hold appliances., (c) a transfer b~' devise,
<br />descent or by operation of law upon the death of a jomt tenant or (d) the grant ot any leasehold IOterest of three years or Jess
<br />not conl3ining an option w purch;:ase, l.ender fH3.y. at Lender's oplion. declare all the sums secured oy this Deed of Trust to be
<br />immediately due and payable. Lender shall h.n:vc waivcd such option 10 a.cceleratc if. prior to the sale or transfer, Lender
<br />and the person to whom ,the Propert}" is to be 'jQld or rr:wsfencd reach ilgreemcnt in writing that the credit of such person
<br />is satisfactoI"Y to Lender and that !he- interesI p.Jyabk on the sums secured hy thiS Deed of Trust shall be at slIch rale as
<br />Lender sh;lJl request. If Lender has waived the oplion t(l ;t<:ce!cralc provided in this paragraph 17, and if Borrower.s successor
<br />in interesl has executed a written assumption :tgreemcnt ;tcccpted in writing hy Lender, Lender shall release Borrower from
<br />all obligations under this Deed of Tmst ami the Note.
<br />If lender exerci$.e$ such option to accelerale. l.ender shall mail Borrower notice of accele-ralion in accordance with
<br />paragraph 14 hereof. Such nOlice shall pro'o'Idc a period of not Jc~-s than 30 days from the date the notice is mailed within
<br />which Borrower may pa)' the SU~lS declared duc< II ll()rrowe~ f:.tils to P~IY such sums prior to the expiration (If such period,
<br />lender may. withou~ further noltce or demand on Borrower. Invoke an)' remedies permiUed by paragraph 18 hereof.
<br />NON-UNIFORM COVENANTS. Borrower ~nd Lender further covenant and agree as follows:
<br />18. Ac~:ekration; Rt'II1t'dies. .:xc-~pt &!i- provided in paragraph 17 hereof. upon Borrower's breacb of any co~'enant or
<br />~reanent of Borrowu in thb: Deed nt- Trust. inctudiQl the covenants to pay whe-n due any sums secured by this Deed
<br />of Trus'~ l..<<tder priOI' tu a~ttlt'ration shall D)ait notice 10 Borrower as provided in paragraph' 14 hereof specifying: (1) the
<br />bftarh; (2) the .action required to {"uu such breach; (3) a date. not less than 30 days froOl the date the notice is mailed 10
<br />BCKTO'Wt'r. by wbicb sucb btdeb must be em-tel; and (4) lbat failure fo CUff such breach on or before the date specified
<br />in. tb~ Doli<< may result in accekration of the sums s~curfll by this Oeed of Trust and $ale of 'he Property. The notice
<br />~ban fu-rthu inform BOfTOwer or .hr right to rrinstatt' .fter ..('celMation and the right 10 brinJ: a court aclion to assert
<br />thr nou..f:-Xhte-ncc of a default Qr any otber dere~ of Borrower to ilcceleration and sale.. If the breach is not cured
<br />on or bdo~ the dale sp<<i6ed in tbe notk-e~ l.ender ::at Lemler's option may declare- aU of the sums secund by thie; Beed
<br />of Trust 1& be immediate-Iy dut': and payable without further demand and may invoke the power of sale and any other remedies
<br />permiUC'd by applicable- law. tender snail be entitled to collect aU reasonable costs and expcpsu incurred in punuing the
<br />~ pnn-ide-d in this paravapb 1 S, including. bUI not limited to. reasonable aUomey's fees.
<br />If t_ POWff of sale- is in'W'oked. Trustee: shaD f'K"ord . notice of default in each county in which the Property or some
<br />part IItenof is located and mau mail copies of ~\lCb notice in tbe manner prescribed by applicable law to Borrower and to the
<br />ntb<< .......os pRrtribcd by "PPUcabl~ law. After Ih~ lapse of sucb Iim~ as may be <<qui"'" by applicabl~ law, Trust~e sball
<br />ghlf' public noder of sate to the persons and in the manner prescrilxd by appliC1lble law, Trustee. without demand on
<br />Bonower ~ sh1dl sell tbe Pro~rty at public auction to the highest bidder at lhe time and place and undn tbe turns des~nated
<br />ia the noti<< or sale- in one- or ftIOrt" pau"ets and in such order as Trustee may determine. Trustu may postpone sale of aJl
<br />or aft,,_ patttJ of the Proputy by puhfic annouucetIKnt at the time and place of any previously scheduled $alt~ I.ender or
<br />l.~lUIu's tIesi&aft may p......b_ tile Properly .1 any sale.
<br />l1pea n<<ipt of payment of the pritt bid. Trustee shall deliver to lhe purchaser TrustnJs deed tooveyinc tbe Propert)'
<br />soW~ 'I'he ftt'itak in the Tnast<<'s derd shall be: prima fade evidence- of the truth of the statem~nts made Ihe~in. Trust~e-
<br />!lbaIIappl)'lbe P""- of lbe ... in Ih~ foUow'''1I or<ler: tal '0 all reasonable costs and u""...... of lb. sal~. including. bu.
<br />aw( IiRNted (0-, TI'ttStK's ftt'S or not moce t-han 5.0 % 01 the Rross sale price. reasonable aUomey's fees and cU$is of
<br />~ """""""; (bl to all_ ""on"'" by Ihis Dud of Trust; a..d (cllhe uc_. if auy. 10 lh. ""....... or .....ons lell.1I1 enlilled
<br />I..........
<br />19. httO"WW"$ Riaat 10 il-eiDsiaie, NOlwitiu:ia;noin. Lender's accelcrallon of the s.ums secured bv this Deed of Trust.
<br />f\:Ofr-,f,lWfl' shan ha-'lit; tlw- right to have .my p-H)C-eedings- begun by Lender 10 enforce thi$; Deed or trust discontinued at
<br />any ~lme pttcr1Q: Ilw e\)r.)~r 10- (lCi;:ur of (I) the fifth day beforc the sate of the Propen.y punuant h.1 the p.owet of ~~lle contmned
<br />1ft thq, Deerl ()~ -Tndot or (UJ entry of a judgmc-tH cofon.-ing thill Deed of Twst If: (a) 8{}ffowe:r p.:\ys Lender it!! sums which \\'ould
<br />ht thell due: under Ihn, Deed t1-f l'rust, tht Note aod nolC1 :Ie-curing Future Advance).. if an}', had no acceleration occurred:
<br />it!-) Ikw'o~r -cut\".\- ;II! brc:a!:'ha. uf any ~)th-e_t covenant" or a.gfcf;.mento; t-.r Horro~r contained :a this Deed of T/'u~f'
<br />h;J ~ro~f" pa_Y~ aH rU$on;;tb-1e ~.\pcn.'K'-\ Htcurred by l.e:ndt.tr nnd TruS.lcc in enfordng th~ c(.)-\'enants ~nd agreements: of
<br />&c-r-~t c-..wUiltu-lt'd m :,hl~ fleW vf TtlJ~t >>nu in enforcing Lendet', and TrU"iIl:-e':,<; remedies .a~ provtded rn p\lragraph I X
<br />btf~~ fodUdtu.J_ t:<<l nut hmHtd w" feit~-unabJe "U~Y" fct':S;_ _a(~d (J) Ruo'Owcr tOlkes 'Su('h at-tlOf\ as l.tnder may n:as{)nabl~
<br />ft'qWfi' to Dj;ul"~ that I~ I~rt vI tntl t:>t:e-d {:1[ T ru,t. Le'ldcr'" .niut:.,.t m th-e Propcny and Dorn.1wer'... oblillahofl 10 pay
<br />
|