|
<br />83-
<br />
<br />lJu6739
<br />
<br />9. CondemnatioD. The proceeds of any award or claim for damages. direct or consequential. in connection with any
<br />condemnation or otber taking of the Property, or pan thereof. or for conveyance in lieu of condemnation, are hereby assigned
<br />and shall be paid 10 Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to lhe sums secured by this Deed of Trust,
<br />with the excess, if any. paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender
<br />otherwise agree in writing, there shall be applied to the sums secured by this Deed of Trust such proportion of the . proceeds
<br />as i$ 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 to the date of taking, with the balance of the proceeds
<br />paid to Borrower.
<br />If the Propeny is abandoned by Borrower. or if, after notice by Lender 10 Borrower that the condemnor offers to make
<br />an award or settle a claim for damages. Borrower fails to resp<'nd to Lender within 30 days after the date such notice is
<br />mailed. Lender is authorized to collect and appJy the proceeds, at Lender's option, either [0 restoration or repair of the
<br />Property or to the sums secured by tbis 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 I and 2 hereof OT change the amount of
<br />such installments.
<br />10. Bonower Not Released. Extension of the time for payment or modification of amortization of the sums secured
<br />by this Deed of Trust granted by Lender to any successor in inlerest 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 otherwist; modify amortization of the sums
<br />secured by this Deed of Trust by reason of any demand made by Ihe original Borrower and Borrower's successors in interest.
<br />t t. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable Jaw, ~hall 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 shall not be a waiver of Lender's
<br />right to acceierate the maturity of the indebtedness secured by this Deed of Trust.
<br />12. Remedies Cumulative'. All remedies provided in this D(.~d 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 />successively. .
<br />13. Successors and Assigns Bound; Joint and Several Liability; Captions. The covenants and agreements herem
<br />contained shall hind, and the rights hereunder shal! inure to. the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. All covenants and ;:lgreements of Borrower shall be joint and several.
<br />The captions and headings of the paragraphs of this Deed of Trust are for convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Nome. Except for any notice required under ~lpplicahle law 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 notice by certified mail addressed to Borrower at
<br />the Property Address or at such other address as Borrower may designale hy notice to Lender as provided herein, and
<br />(b) any notice to Lender shall he 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 to BOiTowcr as provided herein. Any notice provided for in this
<br />Deed of Trust shaU be deemed to have been given [0 Borrower or l.ender when given in the manner designated herein.
<br />154 Uniform Deed of TrffSt; Govuning Law; Seve!1lbility. 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 propeny. This Deed of Trust shall he governed hy the law of the Jurisdiction in which Ihe Property is located.
<br />In the event that any provision or dause of this Deed of Trus! or the Note conflicts with applicable law, such conflict shall
<br />not affect other provisions of this Deed of Trust or the NOle which can be given elIect without the conflicting provision,
<br />and to this end the prOVisions of the Deed ot Trust and lhe Note :tre declared to be severable.
<br />16. Bonowerts Copy. Borrower shall be furlllshed a conformed copy of the Note and of this Deed of T .-f.1t lhe time
<br />of execution or after recordation hereof.
<br />t7. Transfer of the Property; Assumption. If ail or :-tny part of the Pro~rty or an interest therem is sold or transferred
<br />by Borrower without Lender's prior written consent. excluding (a) the creal ion of a lien or encumbrance subordinate to
<br />this Deed of Trust, (b) the creation of a purchase money \ccuritj' interest for household appliances, tc) a transfer by devise.
<br />desceot o~ by operation of law upon the death of a jOint lenanl or (d) Ihe grant of any leasehold interest of three years or less
<br />not contaming an option to purchase, Lender may, ~t I.cndcr"s optton, declare all the sums secured by this Deed of Trust to be
<br />immediately due and payable. l-ender shall h;wc waived such -option to accelerate if. prior 10 the sale or transfer, Lender
<br />and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on the ~ums 'iccurcd by this Deed of Trus! shall be :It such rate as
<br />Lender shall request. It Lender has waived the option to accelerate prO\.ided in this paragraph 17. and if Borrower's successor
<br />In interest has executed a written assumption agreement accepted in writing by Lender, Lender shall rdease Borrower from
<br />aU obligations under this Deed -of T...lSt and the Note.
<br />H Lender exercises such option to accelerate. Lender ~h3Ji mail Borrower nOlice of acceleration in accordance with
<br />paragraph 14 hereof. Such notice shaH prOVide a period of nUl lt'ss than 30 days f rom the date the notice is mailed within
<br />which Borrower may pay the sums declared due:, If SoH-ower falis 10 pay ::,uch sums prior to the expiration of such period,
<br />Lender may, without funher nOlice or demand on Borrower, invoke any remedies permined by paragraph 18 hereof.
<br />
<br />NON~UNIf'ORM COVEN.\NTS, Borrower and Lender further covenant and agree as follows:
<br />
<br />18. A('celeraUoo; Remedies. .:xce-pt as pro~ided in paracraph 17 hereof, upon Borrower's breach of any covenant or
<br />agree-lIH'nt of Borrower in this Dftd of Trust. including tbe (.'o"tmanls to pay when due- any sums secured by this Deed
<br />of Trust. Le...... prior to ",,<deralion shall maillloti<< to Borro..e. as provided in paragraph 14 hereof specifying: (I) the
<br />breac-h; (2) tbe action required to ('ure ~lKb breach; ()) a date. not less than 30 days from the date the notice is mailed to
<br />Borrowe-:r, by which !illch bnach rms: be cur~; and (4) that failure to cure such breach 00 OF before the date specified
<br />in the ROan may result in acceleration o' the sums se1:ured by this Dffd of Trust and sale of the Property. The notice
<br />sbaU further infOftft Borrowu of the- righ. to reinstate after acceleration and the right to bring a court action to assert
<br />the non.e-xi5tUH::~ of s dera..lt Of any other t!eft'nse of Borrower '0 acceleration and sale, If the breach is not ('ured
<br />OR or befOR' the datr specified in the notice. l..ende-r at Lender'S' option may declare aU of the sums secured by this Deed
<br />of Trusl tu be inuuediate-Iy due aJtd payable without further demand and RJay invoke the power of sale and any other remedies
<br />penaiCttil by appIitaWe law. Lmder sbaU be elltitled to coiled all reasonable cosb and expenses incurred in punuing the
<br />remedies pnt-"ide4 in tbis paragraph 18, illCludiD2t but ntK limited to. reasonable attorney's fees.
<br />If the- POWeE of sale is invoked. Trustee shall r<<ord a nOIK:f' of default in each county in which the- Property or some
<br />part thereof. is located ami sIuIIl -n copies of s""h nolke in the manner p.es<ribed by applicable la.. tn Bo....o..er and 10 Ihe
<br />otIaer penoas __ by applicable law, After lhe lapse of such lime as may be required by applicable law, Tru.1ee shall
<br />ch'e puWk eotk.e- of sale .0 the FI'SORS and in the maonec presc-cibed by applicable l:IIw. Trustee, without demand on
<br />Borrower. sbalI sell IIle P_rry at pahIic auction 10 t'" hil:_ bidder at I'" time and place and under the terms designated
<br />ill the IIOtice- of sale in ODe -or more parcels and in sm:h order as- Trustee may dete-noine. Trustee may postpone sale of all
<br />or .., pared of the I'reperty by p"blk aBftO&lMt'lMnt at Uw time and place of any previously scheduled sale. Lender or
<br />~.. deoipee _ pa_ the P_fly at any sale,
<br />U,.... _lit of paymenl of the price bi4, Trustee shall del;,'er to t'" purchaser Trosl..'s deed conveying the Property
<br />sold. TIoe redtaIs. iR lIoe T......ee.s deed shall be prima facie evidence of the trut.h of tbe slatemenb made therein. Trustee
<br />sIJaIlappl)- the ,.....,eeds of I'" stele in lhe follo..,. order: tal to all reasonable costs and ex,...... nf the sale. includiDll, but
<br />IlUl n.ited to., Tl1IStft~5 fet!$ of IIQj' more fhan__ ._" l..Jl__ __ t7r. of-the: gross sale pric~. reasonable attomey's fees and t.~osts of
<br />:=-'eYhIooou; ll>1l<>aU...___ by litis Deed of Trust; and te) t"" excess, if any, to the person or persons legally entitled
<br />
<br />I'. Ilortvwer. RiI:ht to Rdauitate-.- NutwHhstal'!ding Lender's acceleration of the sum~ secur~d by this Deed of Trust.
<br />Borrower i~U. -ba-.'iC- the, right to have ~ny pr<<eeomgs begun by Lender 10 enforce this Deed of Trust discontinued at
<br />~Q'Y ~~ -Pf~ to. the eadu.'1' to occur of (If the fifth day before the- $.ale- of the Property puouant to- the l)Owe--r of sale c('mtained
<br />in lhilOced of TfU::It':-"lf (ul entry of a Ju<igmem enforcing tmll. Deed of' Trust Jf: (a) BO-rrower pays LemJcf ail.sums which would
<br />be. tbut ..we_ under lht$ Deed -of Trmt. the Note and notes ~curing Fmure Advances, if any, had no ll\;ce!enuwn oc-curred;
<br />~bj. Bmfo-wttr eW'e;l. aU hr~ or any other I;(,)veoants or agreements ('if Borrower contained III this [X-ed of Trust;
<br />{c.} 8otfilW~- PA,Ys- aJ.! ll'a~w",bk-~ c'lipenaes incurrw by L-ellact and Tn.6tc:e in enforCing the c\.)\'~nant:'j and agrcemeuHl of
<br />8or~-~f-COiQ~ UllhtS-l~ of Trust ~nd ul -cntnfi;ing ,Lender'\ a.nd Trmte-e"s. fe-mediCS ~\ prOVided lI\ p3fagraph I!'S
<br />~t t'Af:J~~_ bt:ttJlt>> ht1'uttdt"l. tt-ili.$OfU'hIc ~UHmey''!. fee;$;; and id) 8~TOWU takes \och action as tender may .rcw!>-(lilab-l~'
<br />~u'c. t~ .Mute thaI ,he tten (If tntJ ~ of !'ntM. Lende('~ 1tJlefeM In the Pm-perty and Borwwt'f\ obligallon [0 p:\y
<br />
|