|
<br />" :'"
<br />
<br />84 - 002683
<br />J
<br />
<br />9. Condemnation. The proceeds of any award or claim for damages. direct or consequential, in connection with any
<br />condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and shan be paid to Lender.
<br />[n the event of a total taking of the Property. the proceeds shall he applied to the 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 is 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 Property is abandoned by Borrower, or if, after notice by Lender to Borrower ihat ihe condemnor offers to make
<br />an award or settle a claim 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 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 I and 2 hereof or change the amount of
<br />such installments.
<br />10. Bonower Not Relened. Extension of the time for payment or modification of amortization of the sums secu';ed
<br />by this Deed of Trust granted by Lender to any successor 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 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 />11. Forbearance by Lender Not a Waiver, Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by appiicabie law, shail not he a waiver of Or preclude the exer-cisc of any slich right o"i~ fe:1'he<<-y-.
<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 accelerate the maturity of the indehtedness secured by this Deed of Trust.
<br />12. Remedies Cumulative. All remedies provided in this Deed of Trust arc distinct and cumulative to any other right
<br />Dr remedy under this Deed of Trust or afforded by law 0r equity, and may be exercixd concurreniiy, independently or
<br />successively.
<br />13. Successon and Assigns Bound; Joint and Several LiabiUty; Captions. The covenants and agreement_s herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns of Lender and Borrower,
<br />subject to the provisions of paragraph 17 hereof. 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 convenience only and are not to be used to
<br />interpret or define the provisions hereof.
<br />14. Notice. Except for any notice reqUired under applicable 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 designate by notice to Lender as provided herein, and
<br />( b) any notice to Lender shall be given by certified mall. return receipt requested, to Lender's address stated - herein,-'or :to
<br />such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided for in ,this
<br />Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />IS. lJnifonn Deed of T~: Governinc I~aw; Sevenbility. Thi!\ form of deed of trust combines uniform covenants for
<br />national use and non~llniform covenants wilh limited variations hy jurisdiction to constitute a uniform security instrument
<br />covering real propeny. 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 i,.~nfticts with applicable law, such conflict shan
<br />not affect. other provisions of this Deed of Trust or the Note which can be given effect 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, Borrower's Copy. Borrower shall be furnished a ...:onformed copy of the Note and of this Deed of Trust at the time
<br />of execution or after recordation hereof.
<br />17. Traadu of the Property.: A....ptioa. If all or any pan of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior"written consent, excluding t a) the creation of a lien or encumbrance subordinate to
<br />Ihis Deed of Trust, (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devis-e,
<br />descent o~ by operation of law upon the death of U joint tenant or (d) the grant of any leasehold interest of three years or less
<br />not contalOing an option to purchase. Lender may, at Lender's optwn, declare all the sums secured by this Deed of Trust t,o be
<br />Immediately due and payable. lender shaU have waived such option to accelerate if. prior to the sale or transfet~,'Le",.er-
<br />and the person to whom the Property is to be sold or transferred reach agreemenl in Writing that the credit of such person
<br />is satisfactory to Lender and that the interest payable on the sums secured by this Deed of Trust shall be at such ratc! as
<br />Lender shall request, If lender has waived Ihe option to accelerate provided in this paragraph 17. and if Borrower's sU'CCe$SOr
<br />In mtercsthas executed a wrillen assumption agreement a...:cepted i.n wrillng by Lender, Lender shall release Borrower,-froOl
<br />all ohligauons under this Deed of Trust and the Note.
<br />If Lender exercises such option w accelerate, Lender shalt mail Borrower notice of acceleration in accordance with
<br />par---dgraph 14 hereof. Such oorke shall prOVide a period of not less than 30 days from the date the notice is mailed within
<br />which Borrower may pay the sums d~.lared due, Jf Borrowe~ fails to pay such sums priQr to the expiration of such period.
<br />l.ender may, withoUl further notice Of demand on Borrower, Invoke any remedies permitted by paragraph 18 hereof.
<br />NON.UNIFORM COVENANTS Borrower and Lender further covenant and agree as follows;
<br />18. t\4.,'celeracion; RemHles. Enep. as pro\'ided in par.""" 17 heffltf, upon Borrower's breacb of .ny cOl'enaal or
<br />Uf:r~f'...eRI of Bono",er in this Deed o[ Trust, including the co\'enanlS to pay when due uy IU"'S iCCured by this Deed
<br />of Trust. Lender prior to acceleracion shall mail notke to 80rro",er as prO\!ided in p1uacraph 14 hereof specifY'III: (I) 'he
<br />brea..:h; (2) the action required to {'urc sudl breat'h. (J~ a date, not less than 30 daYl!i from the date the notice is mailed to
<br />Borrower, b)' which ,!ouch brt'"Mch must bt- l.:ured; and (4) thai failure to cure l!iiuch breach on or before the date specified
<br />in th... notice maJ result ill act.'eleration of the SIlI1l.'" secured b~-' this Ueed of Trust and sale of the Properly. The notice-
<br />..hall further inform Borro\\e-f of the right hI ~instate after acceleration and Ihe right to bring a court action to assert
<br />Ihe nOIl~u,istenn~ of a ddault or am other def('n~ of Borrower In acceleration and sale~ If the breach is not cured
<br />on or before the dale !lifN'd6ed in Ihe notice, l.ender at Lender's op.ion may dt-dare all of the sums secured by this Deed
<br />of Trust to be immediatel, due and pa)able without further demand and mu) in\,oke the power o[ sale and an)" othe--r rcnledies
<br />penniUcd bl applicable la,," L~ndu shall be entitled to t.'olled aU reasonable l'osb and expenses incurred in pursuing the
<br />remedies pro,-ided in Ihis paragraph 18, includin~, but nut limited 10, rea'iOnable aUomeJ's fees.
<br />If thi" po\\er uf sale is int'oked. Trustee shall record a noth:e of ddauJl in each count,.. in wmeh Ihe Property or some
<br />purt the-reor h IOl:ated and shall mail copies or such notice in the manner prescribed b}' :.Ipplicable law to Borrower and to thc-
<br />other pen.on'- pre~ribed b) applicable la". After the l.apse of SUf.'h time as ma)' be required by applicabh.' law. Trustee shall
<br />1:"'-( public notice of Yle 10 the pel"Son~ and in the manner prl':o.cribcd bJ applkable law. Trustee, without demand UIi
<br />Burro\4-cr. shall !ti"U the Property at public auction to Ihe hi~h('sl bidder al the lillle and plal'(' and under the lerrns desiJ;:natcd
<br />in the notice of sale in one or more parcels and in such order Hilt Trustee ma) determine., Trustee ma) postpone safe of all
<br />or an) pared of Ihe Propert) by pubJit: announn"menl at Ihe lime and plac~ of au) pre~ioush ~l'heduJ~d .....It', Lender or
<br />Leudtr~~ df'Si&oet" maJ purcb~e the Propert,) at any salt'. '
<br />l)Xlfi receipt of pa)'nlent uf the prke bid, 'fnlsh,"c shall dt"lhu to tht" purchaser Tru!<;h."C.~ dt"l'd ('Om'c}iu~ tlu: PrOpl'rt,)
<br />...old. flw r-t.'citab in tb.t" Trustec'~ dttd shall be prima (arit' c\'idt"fKl' of th,,' truth uf tht' slatcnu."nt~ mud..., tht.'rl'in. Tru:-;tct.'
<br />",hWl apply thl: pn)(.""t>d~ of Ult' ....Ic in the following order: (a) to all reasonable l."o'h and CJl.I.H:II-M,':., uf tb\' 'Io1l1t" in,,:luding, bUI
<br />,~()t Iin.~ted to. TntStee's rt'C~ uf <<HI mort' thun I.) of l(}j'- uf t.ht, g,ro<'..'" "t41It' prit.'l', rt'Oismmhlt, aUlJrnt..)'.~ rl>t'~ .mri l'O~i!o t)r Hilt." ...\hh,'I\IT:
<br />!bJ to aU ~un'U Wl'un~ b\ thh iiced of Trust; and i(;llht: ('\n'...",. if ~m). tu thl" pcr...un ur p..'r"llfl'" h~~i.tU) \-'otiUt-d ltwn>lu,
<br />19. 8uno\\'u's Righ-t to Rt'in~ah'. f"{l{l.\llh~l,;ll\dmg I,\..lldcf'" .1t.\..l"k;dlHl!i ,'r lilt ,{'lH' "~',ur\.'d h tb -, D...'t.d <'1 I
<br />BOr({lWCr ,;hail h-aVt' the nght hI ru....C' 'In) pltn.-~'l,'I.Jll1g\ 0\.~,gWl h) I {'nd~r II' \'nl"I"I.I-' thh Dn:d
<br />.\flY IHTte pf11.1f to th\.' CitdlCI In ,If (II th\.. fifth J~H h-d'_lft.' th~ ",lh.. "I iht" PI "iXT:\, !'\!r"dldnll,) Iln-
<br />it1 thh D\~~l (tf h\J\i or rHI cmr~ il jHdgrm:nl l'nfl'll in!tllhl" lkcJ (it Tru.., If i,U Btl~H'\\n 1'.\\ ~ J \'I\(l.:-r
<br />he tht'n dtl~~ UfH.tt'f tn." [kc,j IIf Tr.l'.!. lh...... ~\..l(' "1",,.1 w'l~~\ I,t""q:ng F,,~lUfr: :\d",~!h.(" t ,I~\ t!;ij ':11,'LI
<br />,hi 801 '/'('-...,,: r ,,'\lte) ,Ill hfC,,hhr't. t,i iHl\ "rht'f ,,("d_'!I,HI;.. It! ,hu~'\'n\~ql!' t,f B'_'f:."".: "\.';)!~H'll'" ,f I',,',:
<br />'c} fl."pl'\n:r :tn re;l','Hl,lhk ,,"-\11ft',! ~1. J t'!\\!t:l' 11",,1.:,' If l'nl,'-",\,: lLt
<br />H;,Hro'Vt.~! lh:.. f'k"'-{'d Il'<hl ,In,l ;n \ i:I\JCf-' .Hld I ,,',:. .,,"','di'
<br />""t'lt'i1t_ t!h.h.ldtn~, but nt'll hmdt:d 10 1't,-il''>\Hqhk ,llh.l,>-I:\ '- ,tll,j i,li B"i!'.\." 'l~,' I,
<br />''-'4'idO: !', aHun' ;h~l I~W j<f.'!'l ;"I! !Ill" r:k;:d ,,: TfH~1 1 ..nd"l ... m'~~~<' ' n ,,('_:;t-. ,1!l,
<br />
<br />
|