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200810259
<br />15. Rehab! itation Loan Agreement. Trustor shall fulfill all of Trustor's obligations under any home
<br />rehabilitation, impr vement, repair, or other loan agreement which Trustor enters into with'Lende.r. Lender, at Lender's
<br />option, may requir Trustor to execute and deliver to Lender, in a form acceptable to Lender, 'an assignment of any.
<br />rights, claims or de enses which Trustor may have against parties who supply labor, materials or services in connection .
<br />with improvements ade to the Property,
<br />16. Transfer of the Property or a Beneficial Interest in Trustor. If all or any part of.the Property or any interest
<br />in it is sold or trans erred (or if a beneficial interest in trustor is sold or transferred and Trustor is not a natural person)
<br />without Lender's pri r written consent, Lender may, at its option, require immediate payment in full of all sums secured by
<br />this Deed of Trust. owever, this option shall not be exercised by Lender if exercise is prohibited by federal law, as of the
<br />date of this Deed of Trust.
<br />If Lender exercises this option, Lender shall give Trustor notice of acceleration. The notice shall provide a. period
<br />of not less than 30 days from the date the notice is delivered or mailed within which Trustor must pay all sums secured
<br />by this Deed of Trust. If Trustor fails to pay these sums prior to the expiration of this period, Lender, may invoke, any
<br />remedies permitted y this Deed of Trust without further notice or demand on Trustor.
<br />NON - UNIFORM C VENANTS. Trustor and Lender further covenant and agree as follows:
<br />17. Acceleration; Remedies. Except as provided in Paragraph 16 hereof, upon Trustor's breach of any covenant
<br />or agreement of Trustor in the Note or this Deed of Trust, including the covenants to pay when due any sums secured by
<br />this Deed of Trust, Lender, at Lender's option, may declare all of the sums secured by this Deed of Trust to be
<br />immediately due and payable without further notice or demand and may invoke the power of sale and any other remedies
<br />permitted by applicable law. Lender shall be entitled to collect all reasonable costs and expenses incurred in pursuing
<br />the remedies provided in this Paragraph 17, including, but not limited to, reasonable attorneys` fees to the extent
<br />provided by law.
<br />If Lender invokes the power of sale, Trustee shall give notice of sale by public advertisement for the time; and in .
<br />the manner provided by applicable law, and Lender or Trustee shall mail a copy of the notice of,sale to" Trustee'in' the
<br />manner provided in Paragraph 12 hereof. Trustee, without demand on Trustor, shall self the Property at the ,time' and.;:
<br />under the terms designated and in the notice of sale at public auction to ,thp highest', Lender or L+ender's desi[dnee,
<br />may purchase the Property at any sale. r '
<br />Trustee shall deliver to the purchaser Trustee's deed conveying the,Pro 'ert . so sold Wit o,ut`an';'Gaf`en snt l�C.
<br />Y 9 P y tl. Y, y e
<br />warranty, expresse or implied. The recitals in the Trustee's deed shall be prima facle,Qv1d'en,4' ' truth of the
<br />statements made th rein. Trustee shall apply the proceeds of the sale in the following Qrder:' (a)`all le cgstsi
<br />and expenses of t e sale, including, but not limited to, reasonable Trustee's and attorneysi� fss ark Ras
<br />a ot� tale
<br />evidence; (b) to all sums secured by this Deed of Trust; and (c) the excess, i ariy to ttaerpersQnllare tis, legally)
<br />entitled thereto. If tie Property is sold pursuant to this Para rah 17 Trustor : or n
<br />a y; person hAldli?A ppcssessigh �f the
<br />Property through T ustor, shall immediately surrender possession of the' :tgAheopurGhaserflata uclh „pats yrtlf,'
<br />possession is not surrendered, Trustor or such person shall be a tenant at will of such purchaser shall be rmgvable by
<br />process such as for able and unlawful detainer, and hereby agrees to ,pay to such purchaserI? the ireasortablo r'erttal flue
<br />of the Property after sale. a i J '7,1 .; ,
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<br />18. Lender, Right to Allow Trustor to Reinstate. Notwithstanding Lender's. acceleration of the ,s.urns securetl
<br />by this Deed of .Tru t due to Trustor's breach, Lender may, in Lender`s total discretion discantinue any, proceedings ;-
<br />begun by;Lender to enforce this . Deed of Trust at any time prior to the sale of Prppqrty pursuant`to thepowr'of sale
<br />contained in this Deed of Trust or entry of a judgment enforcing this Deed of Trust If
<br />; (a) Trustor, pays; Lender all sum
<br />which would be the due under this Deed of Trust and the Note had no acceleration occurred; (b) Trustdr'curesra
<br />breaches of any of er covenants or agreements of Trustor contained in this Deed of'�7ru'st, ;(G) "frusta' pads all
<br />reasonable expense incurred by Lender and Trustee in enforcing the covenants and aggreements of Trustor contained m
<br />this Deed' of Trust, nd in enforcing Lender's and Trustee's remedies as provided in Paragraph 17 tiereoi,'includi;� but;
<br />not limited to, reaso able attorneys' fees; and (d) Trustor takes such action as 'Lende'r`ma reasvnabl re wire t assure
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<br />that the lien of this eed of Trust, Lender's interest in the Property and Trustor's obligation'to pay!'the `sums secured by ;
<br />this Deed of Trust hall continue unimpaired. Upon such payment and cure by Trustor,,this Deed of Trust and the
<br />obligations, hereby shall remain in full force and effect as if no,, accelerationl,h,ad occurreda�hhe ng;hts,granted i11,!. ;
<br />this ,Paragraph 18 s all in no way be construed as allowing Trustor to, reinstate at Trustor'syviII, sit laejng. understood that
<br />such reinstatement i totally within the discretion of Lender.
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<br />19: Assignment of Rents; Appointment of Receiver, Lender in Pos'sessiori ' f As' additia'r ?at Fsp'citrity
<br />hereunder, Trustor hereby assigns to Lender the rents of the Property, provided that "Trustor shall, :prior to accele:rativn ;<
<br />under Paragraph 17 hereof or abandonment of the Property, have the right ;to coflegt andretair) ",,suGhl;�,rents, they „i
<br />become due and payable,
<br />(A t
<br />Upon acceler tion under Paragraph 17 hereof or abandonment of the Property,, Lender; in persom, by agent; , r by' '
<br />judicially appointed ceiver, shall be entitled to enter upon, take possession of and ;manage `the Property andltto fcoltect
<br />the rents of the Pro erty including those past due. All rents collected by lender or the lreGelve i�, [I ibetia�:pplled f$r i;tp
<br />payment of the cost f management of the Property and collection of rent$, includin ;'but' (imi l ,`eee,y�r'saesi
<br />9 fe4 t;
<br />premiums on receiver's bonds and reasonable attorneys' fees, and then to .the
<br />sums, Secured' b 4his .Deed
<br />Lender and the receiver shall be liable to account only for those rents actually received.`f,' , +,f F �y
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<br />20. Release. Upon payment of all sums secured by this Deed of Trust; Lender shall rele ase. this eeCf of;+t'rust ?.
<br />Without charge to Tr stor, Trustor shall pay all costs of recordation, if any, to the extent permitted !�y I w ,
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<br />21.1 Substitute Trustee. Lender may, for any reason or cause, from time lto time rempve „Trustee ar?d apq ints a
<br />successor trustee to any Trustee appointed hereunder. Without conveyance,of.the P; ,ra,perty. the sud 'e' sor;lrlifs ee s�iall'
<br />succeed to all the titl , power and duties conferred upon the Trustee herein,and by ap licaahhle is
<br />p q,, k pz 1 <fl f fi ”
<br />22.. Waiver o Homestead, Redemption, Spousal Rights and Other Exemptidns �''T.Wstor waives'aIr4ldot of,;.
<br />homestead exemption in and equitable and statutory redemption of the Property and Trustor hereby,'reliriquishes' all right
<br />of dower'curtesy an statutory or elective rights in the Property. To the extentpermitted fly law Trustor"11e'reby waives
<br />and transfers to Lender any other exemption rights permitted under applicable` State of fedefa'I lay✓?with respeot,ty file
<br />P' roperty:
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<br />NEA443 (7- 13 -03) Mortgage
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