|
<br />~~._ t~1t251.1
<br />9. Cnndemnalion. The,proceeds of any award or claim for damages, director. cotraequential, in connection with arty
<br />condemnation nr other taking of thcProperty, or part thereof;or for conveyance in lieu of condemnation are hereby assigned
<br />..and shallbt_paid toLendea
<br />In threvent of a total takrng of the Property, the proceeds siiall be applied to the sums secured by this Deed of Trust,
<br />with the excess, if any, paid toBorrower: In the event ofa partial taking. of the Property;. unless .Borrower and Lender
<br />otherwiu agree in writing, there shall be applied to thesums secuted 6y 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 prfor to the date of
<br />takingbeats(to the fair marketvalue oftlu Property immediately prior to the date of taking, witkthebalance ofahe proceeds
<br />paid to.Borrower:
<br />if the'Prolterty;is abandoned'by Borrower, or if, afternotice by Lenderto Borrower thatthe condemnor offers to make
<br />an award orsettlaa claimfor damages,Borrowecfailsto respond to.Lenderwithin 30days;after the datesuchno[ice is
<br />mailed, Lender is authorized ro collect and apply he; proceeds, at. Leoder's option, either to restotation or repair of the
<br />Property onto the sums stxured`by this. Deed of Trust:
<br />UnlessLenderand Borrower otherwise agreein writing, any suchapplication of proceeds.[nprincipalshall nof:exrend
<br />`orpostpone[he duedale of'[hemon[hlyinstallmants referred to in'. paragraphs 1 and 2'hereofor change [he-.amountof
<br />such°installments.
<br />10.Borrower NoF.Rekaaetl. Extensionof the time for payment or modification of amortization of [he 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 />he liability of the originaP Botmwerand $orrower's successors jn interest Lendet shall not be required' to commence
<br />'pr'oceedings against such successor or reftue to extend time' for payment: or otherwjse .modify amortization of the. sums
<br />:securedbythisDeedoCTrustby'reasonofanydemandmadebytheoriginal.BorrowerandBorrower"s successorsinin[erest.
<br />11. Foi•beaatrce:by LeoderNot a Waiver. Any:.forliearance by;Lender in exercising ary 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 [he payment of taxes'orotherliens or charges by Lender shall not bra waiver of Lender's
<br />tight to accelerate the: maturityof the"indebtedness secured' by this Deed of Trust.
<br />12.- Remedks Cumulative. All remedies provided in this Deed of Ttvst are distinct and cumulative to any othernght
<br />or7ernedy undedthisl7cedofTrust. or afforded,byJawor,equity,andmay be exercised concurrently,.independently or
<br />successively.
<br />13. Sarctxsors and A~igns Bonnd;.Joint aed.Several Giability;..Captions. The' covenantsahd'agreements herein
<br />containedshallbind,.andtherights,hereundershallinure to;'the. respective successors and assigns of I_enderand'Borrowet.
<br />subject to'.the provisions of paragraph 17hereof. :411covenants andagreements of Borrower shall bejoint and-several
<br />Tlie captions and headings: of .the patagraphsofthisDeed of Trustare for convenienceonly and are :not to'bcused to
<br />interpret ordefitrc the provisions hereof.
<br />14. Notice. Except forany-notice required under applicable law to be givenim another manner. (a) any: notice to'
<br />Borrower provided for in this.Dced of Trust shall be. given by mailing sueh notice'by certified mail addressed to Borrower at
<br />the Property'Address or arsuch other address ms Borrower may designate by notice to' Lender as ,provided herein, and
<br />(b) any notitt to Lendershall 6e 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 oETrus6 shall be deemed to have been given [o Borrower orLender when given in "the' manner designated herein
<br />13. Uaifotrm Deed of Trash Governing Law;:Sevenbility. This form of deed of trust combines uniform covenants for
<br />national use and non-uniform covenants with limited variations by junsdiction` to coosiitute a uniform security: instrument
<br />covering. real property. This Deed of Trust'shall be governed by the law of the jurisdiction in which thePeoperty is 9ocated.
<br />In the evenLlhat any provision or, clause of this Dced of Trust or the Note conflicts with applicable law: such conflict shall
<br />not a$ecLOther provisions of this Deed'of Trust or the Note which can be given effect without the conflicting. provision;
<br />and to thisend iheprovisions of the Deed of Trust and the Note arc declared to be severable:
<br />16. Borrower's Copy. Borrower shall_be furnished a conformed copy of the Nate and of this Deed of Truer at the time
<br />of execution or after recordation hereof.
<br />17. Trtwsfer ofthe hoperty;A$umption. Jf allot any part of the Property oran interest theremis sold or transferred.
<br />by Borrower without'Lender'sprior written consent, excluding (a) the creation of a lien or encumbrance suhordinate to
<br />this Deed: of Trust, (b) the creahon of a purchase money security interest for household appliances, (c) a transferbydevise,
<br />descent or by operation of law upon the death of a joint tenantor (d) the grant of'any leasehold interest of three years or less
<br />ant containing an option to purchase, Lender may; at Lender's option, declare all the sums secured by this Deed of Trusrto be
<br />immediately due and payable." Lender shall fiave waived such option to accelerate ifrprior to the sale or transfer, Lender
<br />and the person to whom the Property is [o'be sold or transferred reach agreement' in writing. that the credit of suck person
<br />is satisfactory to. Lender and that the. interest' payable on thesums secure.; py this Deed ofTrust shall. be at Bach. rate as
<br />Lender shall request. Jf Lenderhas waived the option to accelerate provided in this paragraph l7; and if Borrower's successor
<br />in interest has executeda written-assumption'.agreement accepted in writing by Lender; Lender shalt zelease: Borrower from
<br />elf obligations undet`this Deed o£Trust aad the Note.
<br />If Lender exercises such-option toaccelerate;'Lender shaHmail Borrower noriceof acceleration in accordance with
<br />paragnph.l4bereof_ Such notice shall ptovide a period of nor less than 30 days from the date the notice is mailed .within
<br />which Borrower may pay the sums declared due. It Borrowet fails to pay such sums prior ro the expiration of such period.
<br />Lender may, without .further notice or demand on. Borrower, invoke any. remedies permitted by, paragraptil8.hereof.'..
<br />Not+-UNIFORM CovayetvTS:Borrowerand Lender-further covenantand agree as follows. -
<br />IB. Accekralion; Remedies. "Except as provided in paragraph 17 hereof, upon Borrower's breach of env covenant or
<br />agreement ofBorrowerie This Deed of Trust, including thecovenanLS.to-pay when-due anysamssecured~bythisDeed
<br />of Trusf,Lender priorto acttkralionshall madnoticeto Borroweras. provided o'paragraph14 hereof specifying::.(1) the
<br />breach; (2)'the action; required tocure such Drcach; (3) a dale. .not less thud 30 days from the-.dale the notice is mailed to -
<br />$orrower,bywhich such breachmust-becured; anti.(4) thatfailure lo.'cure'such breacA on orbeforethe datespecified
<br />in the notice.may resuh.:in accekration bf lhesums secured bylhis DeedoF Trust andsaleofthe Properly.. Thenotice
<br />shall furtherinform $orrower: of'the right ao reinstate after acceleration and the right to. bring a court action io assert
<br />the non-existence of a=default orany other defensrof :Borrower to-acceleration and sale; If the` breach is..not cured `
<br />onor before the date specifiedinthe no6ce,lxnder of Lender'saption mavdectare all ofthe sums'secured bythfs Deed
<br />or Trust to tieimmedialely dueandpayaDlewtihout furtheYdernand andmay invoke thepower ofaale: and any. other remedies -
<br />pemritted byapplicableaaw. header shall be..enlidedto collecYa11 reasonable costs and expenses incurtedin pursuing the -
<br />remedies provided in this paragraph 18, including,6utnot limited to, reasonableattorney'sfees.
<br />if the power of sale: is invoked, Trusteeshallrecord a notice of default in each counlyin which the Propertyor some
<br />part thereof is,located and shall maJ copies oEsuch notice in themannerprescribedbyapplicable law to Borrower aad to. [he
<br />other personsprescribedby applicable law.. After the lapse of suchtime as maybe .requited by applicable law, Trustee shall
<br />Rive publirfnotfce of sale to the-persons and en Ihcmannerprescribed..by :applicablelaw. Trustee,:withoutdemand' on
<br />Borrower shall sell the Propertyal public auction to {hr highest bidder at the- time and: place and under the terms designated
<br />in the notice. of salein one ormore parcels and in suchorder. as Trustee'may delcnnine. Trustee-mav postpone. sale of act
<br />or any parcdof the. Property by'public announcemenC:at thetime and.placeof any previously scheduledsale. lender or
<br />Ixnder's designee may purchase lbeProperty at any sale..
<br />Upon-receipt of payment of Che price. bid, Trusleeshall deliver to the purchaser Trustee'sdeed eoaceynt; the Property
<br />sold. Therecitak in the Trustee's deedshall be primafacie evidence of. the truth of thestatemenls made therein.. Trvslee
<br />shall apply the. proceeds of thesalein the followitrR order. (a)toallrcasonable costs and expenses'of the sale, including but
<br />not limited to, Trustee's fees of not. more than_ I ,jL __ _ _% of the gross sale price, reasonable: attorney's fees and:costs of
<br />title evidence;,(b) !o all sums secured by this Deed of 'fnrsp and (c) the excess, iF any, tothe person orpersons legally entitled
<br />thereto.
<br />14. Barrower's Right to Reinsiale. Ntiiwtthstanding Lender'sacceleration of-toe stems secured by thisDced of Trust.
<br />Borrower shall have the nght tohavc any proceedingsbegunby Lenderto ~nfercethts Deed of Trust itsconiinucd at.
<br />L any time prier to the outlier to occur of (i) the fit h uay before the sale of the Property oursuant icr[he power of sale contained
<br />ir. this Ccal nf'Tntsi ot:(ii) entry of a pydgmen[ en(grcingthts Deed of Trust if: fa). Borrower paysLender elf sums whichwould
<br />tk th i Juc under thisDeed ofTntst, the Dote .md notes securing .Future Advances, if_any, hod no acceleration occurred:
<br />fbi Is -:w ~r cures alt breaches o€ any other covenants ar. agreements of Borrower umtai~ezl m this. Dctd of Trust;
<br />?cl H.. r.c wcr ;aye all reasonable cxpcnse~ tnutrred by Leniicr and Tnisteeia enforcing the ~, vet.ants aria as,rucmcnts of
<br />Hoe nt q[tt in thus Deed of 'Fruc[-and in enforcing Lender's and "T"rig e rem d~ sspr ~u{e.l inp br}S It
<br />h ~rc i-I ,aog, bet not hm,Ced lo, reasonable coo-nay's fccv; and{d> Horrou=~r t,tkcs sue t actw•t as 3 rider ma. r xonnhly
<br />urHi. c as.+ur¢ tF.arahc lien of chi<Chrcd of Trt st, Lc rider's itite rest in[he Praper~ty .ine3 Born w.crs abti~;ktion to psy
<br />
|