|
<br />',f'
<br />
<br />.84,...... 002716
<br />
<br />\'011) -PJ.
<br />
<br />r
<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 />In the event of a total taking of the Property, the proceeds shall be applied 10 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 hy 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 hy Borrower, or if. after notice by Lender to Borrower that the 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 10 in paragraphs I and 2 hereof or change the amount of
<br />such installments,
<br />10. Borrower Not Releued. 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 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. Forbe.rance by ("ender Not a Waiver. 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 shall not be a waiver of Lender's
<br />right to accelerate the maturity of the indebtedness secured by this Deed af Trust.
<br />12. ~tmedies Cumulative, All remedies provided in this Deed of Trust are distinct and cumulative to any other right
<br />or remed~' under this Deed of Trust or afforded by law or equity, and may be exercised concurrently, independently or
<br />successively,
<br />]3. Successors and Assigns Bound; Joint and Several Uability; Captions, The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to. the respective successors and assigns of Lender and Borrower,
<br />subject 10 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 rhis 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 apphcable law to he gi..'en in another manner, (a) any notice to
<br />Borrower provided for in this Deed. of Trust shalJ 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 mail, 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, Uniform DHd of Trust; GoverniDl l..a",; Severabilify. 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 :~e 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 Ihis Deed of Trust or Ihe Note which can be given effect without the conflicting provision.
<br />and to this end the provisions of the Deed ot Trust and the Note are declared to be severable,
<br />16. Borrower's Copy. Borrower shall be furlllshed a l.:onformed copy of the Note and of this Deed of Trust al the time
<br />of execution or after recordation hereof.
<br />17. T...asfer of the Property; ~.......... Jf all or any part of the Property or an interest therein is sold or transferred
<br />by Borrower without Lender's prior written consent, excluding (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 devise.
<br />descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or less
<br />not containing an option to purchase, Lender may. at Lenders option, declare all the sums secured by this Deed of Trust to be
<br />immediately due and payable. Lender shall have waived such option to accelerate it, prior (0 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 lhe interest payable on the sums secured by this Deed of Trust shall be at such rate as
<br />Lender shall request. If Lender has waived the option to accderate provided in this paragraph 17, and if Borrower's successor
<br />III interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from
<br />all obligations under this Deed of Trust and the Notc,
<br />If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with
<br />paragraph 14 hereoL Such notice 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 declared due_ If Borrower fail~ to pay such sums prior to the expiration of such period.
<br />Lender may. without further notice or demand on Borrower, invoke any remedies permitted by paragraph J8 hereof.
<br />NON-UNIFORM COVENANTS, Borrower and lender further covenant and agree as follows.:
<br />18. Accelentioa; Remrdies. Except as provided in pancupb t 7 hereef, upon BORower's breach of any covenant or
<br />a&reenlent of Borro~'er in .his Ueed of ]'nast. includioe the covenlllnts to pay when due IIIOY SUAlS secured by this Deed
<br />of Trusl. L~uder prior to accelera'ion shall mail notke to Borrower as pro\'ided in par.rapb 14 hereof specifyinc: (I) the
<br />breKh; (2) the aelion required to cure such b~ach; (3) a d!lte, not Ies..~ than 30 days frolD the date the notice b mailed to
<br />Borrower, by whkh such b~ach must bt- l'ured; and (4) that failure to ,'ure such breKh on or before the date spedfied
<br />in the l1olkt' may result in acceleration of tb~ sums secured b)- this Deed of Trust and sale of the Property, The notke
<br />shall further inform Borrm"er of 'he right '0 ~instate afler B,'celer.dion and the rieht 10 brinK a court action to assert
<br />the non.e-.istiE'lK:e of a default or an.) other defense of Borrower 10 aCl'eleration and sale, If the bre-ach is not cured
<br />on or btofon tM date specified in the notKe. "ender al l.knder'~ option mal declare all of the sunlS secured b}' this Deed
<br />of 'I'rust to M immediatel)' due and payable without further denland and may im'oke Ihe power of sale and any other remedies
<br />penniUed b)' applicable law. Lender shall be entitled to l'olleel all reasonable l'OSts and e-.penses incurred in pursuing the
<br />remedies pro\-ided in this paragraph 18. iududioa. but nQt limited to. reasonable attorney's fees.
<br />If the power of sale is inl'oked. Trustee shall re,,"ord a notice of defauh in each count)' in which the rropert,~' or some
<br />par1 thereof is located and shalllftail copies of such notice in the manner prescribed b)' applicable law to BorroWlo'er and to the
<br />other pentORS prescribed by applicable law. After the lap!te of such lim~ as maJ be required by applicable law. Truslee shall
<br />gi'\'e public ROtke of sale to the persons and in the manner prescribed b) applicable la,,'. Tru.'!itee. without demand on
<br />Borro..-er. shall sell the Propert}' at public a.....lioo to the hiahest bidder at the time and place and under the .erms designated
<br />in the notice of sale in one or more parcels aDd in sUl'h order as Tnlstee mal' delermine. Tru~tee may postpone sale of aU
<br />or an). p....;:el of the Property by public announcement at tbe tinte and place of an)' pre\.ions.". s,'beduled sale. Lender or
<br />L~nder's desi&aee may purcbAie the Property at an) sale.
<br />Vpon renipt of palmenl of the price bid, Tru.'itt.~ shall deliver to the purchaser Trustee'.!lo dl--ed conveying the Pro~r-t~
<br />'iUJd. The redtab in lht- Tru3l1ee's deed shall ~ prima facje t"\ideltt.'t: of the trutb of the slatelU~b ma~ therein. l'rustt.'t'
<br />sbaU appl" tM pn.K:~ of the sale in the fuUo\4illK, onkr: iu; to ..U rcasonabJe l~osb aud CApenseS of 1Jw sal(~, including. but
<br />not limit~ 10, Trustee's fees of Dul more than b of 1% of the grOS$ ~c price.. reasonable attornt.'J's fees and ("osts of tille c\'idcm,:e;
<br />tb) to w.U sunas NeCured b) this [~of Trust. and te) the e:\n~ss. ifan), 10 tlw penrou or p.:rsons legaUl cntitl(-d thereto.
<br />19. Bono"'~r's RiCht to Rein..tate. Notwlth!>tamhng l.ender'.. ac\:clcroltlOo L1! thl..' :'lllH~ ~\.''':I.lrl'd hy Ihl' Oct:d \If J rU..l
<br />Borrower s.h-atl hav\; the right to have ,~H1Y prn(.:ccJing~ hcgUll hy l.ender "1 l'nh,rce thi3 Deed n( Trust di~l'NltlHllCd al
<br />any hOle pftor to the earlier to Ot:i:Hf of (I) Ihe fifth da}- bcfOlC the ,.I1c of the ProperlY pursuant h' the p;.)\\-CT of sale I.:l)ntlwlcd
<br />10 this Dcc.d of Tnt1t Qf (II) entry or a jlh.tgmcnt enfurcing thi.. Deed of Tru~: If: (it! Borrow",!, pay~ Lt'llIjcr ,III Mlm\ which" 0\11;.1
<br />be then due undt:r dllS Deed ()( Tru:i.f. lhl: NOh: .1;flU nutes. sl.'l.;unng Fwure Ad\':.l.Ili:t'.., If any, had fhl iK...eleri1111)O \\t.'..'urrCi.J:
<br />(h) Borrower \:urcs ~l!l bre-achi.~s of any otht:[ covenant>. ur Hgre.emf'nh llf Hmrowcl C\}otnllll'J III lhl" Dl'l.'J \,1 Tru~t
<br />Ie) BOffo-wel pay.. aU rCd'Stmablc ~~'pcnsc'l 'I'h;urrcJ 11" I ~'rll,kl and Tro...h:e !H i?llf~ll\.:mg (he ~:j)\l'lHlnl!. ,11lJ agreell\ent... \_It
<br />Borrower clJn,tatfiCd tn th,s Deed (If Tow.t and In t~nf"rLHI~ I,ender'" ,wi.! hll"tCt'-" rcm~JI~:\ ,h pl\I\ldl.'d In 1',IUl~';.!_rh ,:-;
<br />ht::fC("lf. tnduomg. but not hmlled in, rcu.\\Hlahk attorney'" f1.:c!>. and IJl BOffowt:r lake!> "th.'h IKtli\1l .1' I ~nd(,1 nld\ fl';1,\On,lhh
<br />n:-qui.i'\, to Ols...urt: thilt I~ hen l.f IfnI\. Deed \.f Trm_l, t ~~mj{,f', ;nlC~l"i 111 lhe rf\llXrt~ dnJ Hnlh'\\\'r-" ,1t->JI1l<1Ih1li I,> 1',(,
<br />
<br />L
<br />
|