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84 - 003731 r 9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with ~ny condemnation or other taking of the Property, or part thereof. or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender, In the event or a tolallaking of the Property, the proceeds shall be applied to the sums secured by this Deed of Trust, with the excess, iI any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower. and Lender otherwise agree in writing, there shall be applied to the sums secured by this Deed of Trust such proportion of the proceeds as is equal to that proportion which the amount or the sums secured by this Deed of Trust immediately prior to the date of lakiDg bears to the rair market value of the Property immediately prior to the date of taking, with lhe balance of the proceeds paid to Borrower. If the Property is abandoned by Borrower, or if, ~fter notk.e !,y Lender to Borrower that the condemnor offers to_~make_ an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date - such. notice._ is mailed, Lender is authorized to collect and apply the proceeds; at Lender's option, either to restoration, or repairDf the Property or to the sums secured by this Deed of Trust. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds' to principal shalt not extend or postpone the due date 01 the monthly installments rererred '0 in paragraphs I and 2 hereof or chaDge the amount of such installments. 10. Borrower Not Released. Extension of the time for payment or modification of amortization of the. sums, s~ured by this Deed of Trust granted by Lender to any successor in interest of Borrower shall not operate to release, in any manner, the liability of the original Borrower and Borrower's successors in interest. Lender shall not be- required to cOmme~ce proceedings against such successor or refuse to extend time for payment or otherwise modify amortization of the surt:ls secured by this Deed of Trust by reason of any demand made by the original Borrower and Borrower's successors hi: interest; 11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising_any right or remedy he~eulld,er" or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise or any such right Dr remedy, The procurement of insurance or the payment of taxes or other liens or charges by Lender shall not be a waiver of Lendefs: right to accelerate the maturity of the indebtedness secured by this Deed of Trust. 12. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct and cumulative to. any other right or remedy under this Deed of Trust or afforded by law or equity, and may be exercised concurrently. independently or successively. 13. Successors and Assigns Bound; Joint and Several Liability; Captions. The cavenants and .agreements -herein contained shall bind, and the rights hereunder shall inure to., [he respective successors and assigns of Lender and. Borrower; subject to. the previsians of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and< several. The captions and headings of the paragraphs of this Deed of Trust are for convenience only and are not to be used to interpret or define the provisions hereof. 14. Notice. Except for any notice required under applicable law to. given in another manner, (a). any notice. to Borrower provided for in this Deed of Trusl shall be given oy mailing such L ~ice by certified mail addressed to Borrower .at the Property Address or at such other address as Porrow;' may designate by notice to Lender a~ provided herein. and (b) any notice to Lender shall be given by certified mail, TeulfO receipt requested, to Lender's address stated herein or -to such other address as Lender may designate by notice to Borrower as provided herein. Any notice provided -for in this Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the .manner designated herein. 15. Uniform Deed of Trust; Governing Law; Severability. This form of deed of trust combines uniform covenants' for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property, This Deed of Trust shall be governed by the law of the jurisdiction in which the ,Property is located. In the event that any provision or clause of this Deed of Trust or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Deed of Trust or the Note which can be given effect without the conflicting provision. and to this end the provisip.qs. Q(J . . .~Jld the Note are declared to be severable. 16, Borrowe(s' 'I;'" HlSrr ifJPi/lShed a conrormed copy of the Note and of this Deed or Trust at the time of execution or af' r r r 'an ...:.. t 17. Transfer t ~ or any part of the Property or an interest therein is sold or transferred by Borrower withou n I . excludin~ (a) the creation of a lien or encumbrance subordinate to this Deed of Trust, (b) the creation of a purchase money secunty interest for househeld appliances, (c) a transfer by devise, 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 Jess not containing an option to purchase. Lender may, at Lender's option, declare all the sums secured by this Deed of Trust to be immediately due and payable. Lender shall have waived such option to accelerate if. prior to the sale or transfer, Lender and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is satisfactory to Lender and tbat the interest payable on the sums secured by this Deed of Trust shall be at such rate as Lender shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's successor in interest has executed a written assumptien agreement accepted in writing by Lender, Lender shall release Borrower from all obligations under this Deed of Trust and the Note. If Lender exercises such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph J 4 hereof. Such notice shall provide a perjod of not less than 30 days from the date the notice is mailed within which Borrower may pay the sums declared due, If Borrower fails to pay such sums prior to the expiration of such period. Lender may. without further notice or demand on Borrower, invoke any remedies permitted by paragraph 18 hereof. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as foHows: t 8. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon Borrower's breach of any covenant or agreement of Borrower in Ihis Heed of Trust, including the covenants to pay when due any sums secured by this Deed of Trust, Lender prior to acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying: (1) the breach; (2) the action required to cure such breach; (3) a date, not l~ than 30 days from the date the notice is mailed to Borrower, by which such breach mu~1 be ('ured; and (4) that failure 'to cure such breach on or before the date specified in the notice ma..v result in acceleration of the sums secured by this Deed of Trust and sale of the Property. The notice shall further inform Borrower of Ihe right to reinstate after acceleraHon and the right to bring a ('ourt action to assert the non-existence of a default or an)' other defense of Borrower 10 acceleration and sale. If the breach is not cured on Of before the date specified in the notice, Lender at Lender's option may declare all of the sums secured b}' this Deed of Trust to be immediately due and payable without further demand and may im-'oke the power of sale and any other remedies permUted by applicable law. Lender shall be <<.>ntiUed to conect aU reasonable costs and expenses incurred in pursuing fhe remedies provided in this paragraph 18, including, but not limited to, reasonable attorney's fees. If the power of sale is iD\-'oked, Trustee shall record 3 notice of default in each cOUnl}' in which Ihe Property or some part thereof is located and shall mail copies of such notice in the manner prescribed by applicable Jaw 10 Borrower and to the other person.'i prescribed by applicable law. After the lapse of su('h lime as ma}' be required by applicable law, Trustee shall give public notice of sale to the persons and in the manner prescribed b}' applicable law. Trustee, without demand on Borrower, shall sell the Property at public audion to the highesl bidder at the lime and place and under lhe terms designated in the notice of sale in one or more parcels and in such order as Trustee ma}' determine. Trustee may poslpone sale of aU or any parcel of the Property by public announcement at the time and place of an}' prel'iously scheduled sale. Lender or Lender's designee may purchase the Property at any sale. Upon receipt of payment of the price bid~ Trustt..-e shall delh'el' to the purchaser Trustee's deed con\!t~Jin~ the Property sold. The recitals in tht, Truste.e's dl>ed shall be prima facie e..oidenct' of the truth of the statements IUndl' therein. Trustee shall apply the proceeds of the sale in the foDowing order: (a) to all reasonable l'OSits and expenses of the sale, including, hut not limited to, Trusttc's fees of not more than III -of 1% of the gross sate prke. reasonable aUonu,'J~s fl't'S and costs of title e,,'idcncp; (b) to all sums set."ured b~ this J)et.~ of Trust; and (c:) the excess, if an)', to the person or per.s~ms legally cntiUl.-d thereto. 19~ Borrower's Right to Reinstate. Notwithstanding Lcnde,r's acceleration of Ih~ sums secured by this Deed of Trust. BOff0wer shal! have the right to have any proceedings hegun by Lender 10 enforce lhis Deed of Trulll JlscontlnllCd at any time prior to the earlier to occur of (i) the fifth day hcf,xc the sale pf the Propeny pursuant to tht~ power of sale cont~lilled in this Deed of Trust or (ii) entry of a judgment enforcing lhis Deed of Trust if: (a) Borrower pay~ Lender all sums. which wlJuld he then due under this Deed of Trust, lhe NOle :md notes securing Future Adv.ancc\. if any. had 1\0 aCl..:l'krafion o~cuned~ (b) Borrower cures all breaches of any other covenants or agrct",mcnts of Borrowcl contained in lhis- Deed ()f Tru"t: (e) Borrower pays all reasonable expenses. incurred by Lender and Trustee in enforcing the C\'.lVl'nants :md agrcc-nH,'nl~ ll! Borrower contained in this Deed of Tru~! and in enforcing Lender's ,lOd Tnl::.tcC'\ remedies as. provided in paragrilph 1 ~ hereof. including, but not limited to, reasonable altorney"s fees; and (d) Borrower Hikes ~uch .actlOn as I .cndei' nmr rC.<I\,'n;lhi\ require to <issure that the lien of Ihis Deed of Tru!>l. l..l"ndcr's intcrc~t in the Properly ,lod Bon~)\\'t\r\ \lhhgali\)tI I.' pa\ I L...