|
<br />V4~~ .. ~ f Yw I#
<br />9. Cew/.ar+rtttlur, ?`.c .rv:rafa r3. an} ..reed •= ~ta+m ?sYr damages. rf+rcct <9r .:anrrgvcnnal, in tonrsett)nn with any
<br />:r=w#nnnat.art cx =_:nc~? tal,nX =?f !fie Prnpeny. ar parz tkerrot, c;r for eanveyante :n lieu of condemnation, are hereby asaigrted
<br />sn.i skeet he pa+d r±, tender
<br />fn the event ^f s sr,rai taking of the Property, the pracerds shat! be appbed to the sums secured by this Deed of Trust.
<br />wiffi the extras. <! .,ray, pa+d rct &-rrrcrwer 1« rhr event o! :, pence! taking of the Property, unless Aorrower and Lender
<br />nlherwix ogres ire wntrng, there shall t+e applied io the sums secured by this Dced at Trust such proportion of the proceeds
<br />as is equal m that proponusn which the annum of the sums secured by this Decd of Trust immediately prior to the date of
<br />taking bears to the fa+r market value of the Property immediately prior to the date of taking, with the balance of the proceeds
<br />paid to t)Orrower.
<br />If the Property ~s abandoned by Bnrrower, 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 authanzed to collect and apply the proceeds. at Lender's option, either to restoration or repair of the
<br />Prapert}• ar to the sums secured by this Deed of Tntst.
<br />Unless Lender and Borrawer otherwise agree in writing, any such application cif proceeds to principal shall not extend
<br />or postpone the due date of the monthly installments referred to in ?aragraphs I and 2 hereof ar change the amount of
<br />such installments-
<br />I0. Borrower Not Released. Extension of the time far payment or modification of amortization of the sums secured
<br />by this Deed of "trust granted by I-ender to any successor in interest of Borrower shall not operate to release, in any manner,
<br />the liability of the original Borrower and Rorraweri successors in interest. Lender shall not be~required to commence
<br />proceedings against such successor ar refuse to extend time for paymem or otherwise modit}• amortization of the sums
<br />secured bv_ this Deed of Trust by reason of any demand made by the original Borrower and Borrower's successors in interest.
<br />f i. Forbearance by Lender Not a Pi'aiver. Any farbearancc by Lender m exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise.of anv such right or remedy.
<br />The procurement of insurance ar tfie payment of taxes ar other liens ar charges h}' Lender s'frall not be a waiver of Lender c
<br />right to accelerate the maturity of the indebtedness secured by the Deed of Trust.
<br />t2. Remedies Cumulative. .41I remedies provided in the Dced of Tntst are distinct and cumulative to any other right
<br />or remedy under this Deed of "crust u: afforded !,y law or equity, and mac fse exercised concurrently, independently or
<br />successively.
<br />I3. Successors and .4ssigns Bound; Joint and Several Liability; Captions" The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successors and assigns at` Lender and Borrower.
<br />subject to the provisions of paragraph t7 hereof. All covenants a«d agreements of Borrawer shall he joint and severest.
<br />The captions -rod headings of the paragraphs of this Deed of Tnist are for cam'enience Dole and are not to he used to
<br />interpret or define the provisions hcreof-
<br />tA. Notice. Except Ilx any notice requred under applicable taw to he genera m another manrter. (al any nMece to
<br />Borrower provided for in this Derd of Trust shall he gn-en by mailing such nonce by certified mail addressed to Harrower at
<br />the Property Address or a[ such other address as Borrower may designate by notice to Lender as provided herein, and
<br />(h) any notice to Lender shall be given by certified mad, return receipt requested, to Lender's address stared herein or to
<br />such other address as Lender may designate by notice to Borrower as provided herein. An}' nofice provided For in this
<br />Deed of Trust shall Fee deemed to have been eiven to Borrower or lender when given in the manner designated herein.
<br />15. Uniform Deed of Trust; Governing Law; Severability, This form of deed of antst cembtnc: ^mtorm Covenants far
<br />national use and Han-uniform covenants with limned variations b} {urisdicran to Constitute a uniform security instrument
<br />covering real property. This Deed of Trust shalt t+e grnernect by the law ai the jonsdietion m which the Propene is totaled.
<br />In the event that any provision or clause of this Ueed at Trust or the Note canflieES wdh appbuble taw. such conflict shall
<br />not affect other provisions of this Deed of Trust or the Nute which can in: given effect wnhaut the s.. *n$ieting peon ilia«.
<br />and to this end eke provisions of the Dced of Trust and the Nate are dre)arrd to be xverabie.
<br />ItG, Borrower's Copy. Borrtawer shalt be furnished a conformed cagy a: tier NaC and of this 1}eed of Trust at the time
<br />of execution or after recordation hertrof.
<br />17. Transfer of rhr Property; Atavmpnoo. If all a: anv par[ of the Property cx an interest :herein is sold ar transferred
<br />by Borrower witkout Lender's prior written consent encluding test the oration of a lien or mcumbrantt subordinate to
<br />this Deed of Trust, 1 b) the creation of a purchase money security interest for fiauvrhald appliances. tc? a eranster tsy devise,
<br />descent or by operation of law upon the death of a !clot tenant ar t d) the grant a[ any leasehold interest of three }'ears or less
<br />not cortairring an option « s purchase, Lender may. at Lender's apuan, dcdarc ail the sums secured hr this heed of Trust to be
<br />immediately due and payable. Linder shad haft warned such apuan to aeceteratn if. prior to the sale ar transfer, Lender
<br />and the perso« to whom the Property is to be said ar transferred reach agreement to venting that the credit of suah person
<br />is satisfactory to Lender and that the interest payable on the sums seturai !:}' this Deed ai Trust shall be at such rate as
<br />Lender shall request If Lemfer has waived the apuan to accelerate provided in this paragraph 3 :,and if Borrower's successor
<br />in interest has executed a written assumption agreement accepted in carting by Lender, Lender shall release Borrawer from
<br />all obligations under this Deed of Trust and the Note-
<br />!f Lender exercises such option to accelerate. !_cnder shall mail Borrawer tteuice of accrkratinn in accordance with
<br />paragraph f 4 hereof. Such notice shah provide a period al not less than 30 days from the date the notice is mailed within
<br />which Borrower loess pay the sums declared due. f( Burrower fads to pay such surrrs prior «s the eapiraban of such period.
<br />Lender may. without further notice or demand an Bnrrower, mvote any remedies permitted h}• paragraph 18 hottest.
<br />TvoN-UntFUas+ Covt:NnN'rs. Borrower and Lender further cavenam and agree as tollowr.
<br />tg. Accekratior; Remedies. F.xttpt as provided io paragraph t7 hereof, upon Borrowers Drench oI any roveaanl ar
<br />agreement of Borrower in 16)s Bred of Trust, including the caveaaats to pay whey due any stuns secured by this Drrd
<br />of Trust, i.ender prior to acceleration shall imp rwtice to Harrower as providM ix ;orrtrgrap6 14 hereof specifyitrg: (i) the
<br />breach; (2) the action required to cure such breach; t31 a data nW less tlua 30 day, from the date [hr notice is mailed to
<br />Borrower, by which such breacfi must be cured; and (4) that failure to cure sock brerr•h o0 or before the date specified
<br />in eke notice may result in acceleration of the wrrB secured by tba Deed of Trost and sate of the Properly. The notice
<br />shall furtfier inform Borrower of ike right to reiterate alter acerkrattoa acrd the right to brittq a court acton to assert
<br />eke non-rxfstence of s defaatt or any other defetase of Barmwer [o acceleranaa and safe. IF the tsreack is not cutsd
<br />on or before the dale specified in eke nonce, leader at [.ender s option racy declare a6 at the surtrs secured 6y atria Decd
<br />of Trust to be immediately doe and payable without [urtkcr demand end teas invoke tfie power of sale and nay other remedies
<br />permitted by applicable law. t.errder sleet! be eMifled to collect all reawrubte casts and expenses incurred in pursuing the
<br />remedies provided in this paragraph IB, incinil'xyt, bW not limited to, reasotrabk atlomey's fees.
<br />I( eke power of sale is invoked, Trustee shall record a rwtice of default in each county in which the Property or some
<br />paR thereof islacated acrd shall w8 ropiea of suck notice is the manner prescribed by applicable Isw to Borrower end to the
<br />other persons prescribed by applkabk law. After eke lapse of such time as may 6e required by applicable law, Trustee sban
<br />Rive public rrotice of sale fa flee person and in the manner prescribed 6y apptleabte law. Trustee, without demand on
<br />Borrower, shall se8 the Properly at pnblie auction to the highest bidder at the time and place and under the terms designated
<br />to the notir of axle in one or more parcels and in such order as Trustee may determine. Truster may postpone sale at an
<br />or any parcel of Ike Property by public aaaounreaxal-at eke time and place of any previously scheduled Sair. !.ceder or
<br />Leader's designee may pttrclttre the Properly at any sale.
<br />Upon recipe of payment of the price bid, Trrr~a shall deliver to the purchaser Trustee's dad conveying the Property
<br />sold. Tkr tectlais )n ike TraWee's died rhalt 6e prima tack evidence of the truth of eke statements made therein. Trusts
<br />rtu6 apply the proceeds of Iht sale it the folbwiag order. (a- to ill reawtmble casts rand expertsts of rhr sale, including, but
<br />cwt IknHed fa. TrmArt's fees Ot rM more ffian ~1- 4f 1 'g• of the grota sale price, rrasonabk alforney's fees and costs of
<br />title a+ftteaet; eb- to a6.taarr aecared ley tkY P«~ of "feast; and !c) the excess, if tray, to the person or persons legally entitled
<br />tftetigar.
<br />t4. tMnower'a RiRAd to tieiastatc, Ntnwithatanding Lender's acceleration a( rhr wins secured by tb: " :~d of Trust.
<br />Bwrower ekes!! have the right to have any proceedings )segue by (..ender to enforce this Ihed of T-rus „ntinucd at
<br />any rimes petite !o the earlrrr to lector M U) the fifth day before rhr sale of the Property pursuant to the paw2r rt ~a!c contained
<br />m rkn Dced of Ttuat or (aiemry of • jttdprrcm enturc"tog this eRcd rat `total i(' (a) Bnrroa~cr pa}s Lrnder all sums •,+ftich wrouid
<br />lea then due undsr th,s Decd of Trust, the Note and Holes securing Fur tier Advances, rl any, had no a.:ccleratiuts occurred:
<br />fist Rwraww,rr cwrv alt Mrsu;trea cal any tuber crnrnants nr agrcrr«enis a{ Bar rawer crnilaincxi in thix Deed of 7ruxt;
<br />fc) tlarnrvesr par, alt reaaorrakk capeosex inturncd by t Crider arrd "frtsstec +n enfor.sng rise covrruntx and agrcemcnts of
<br />Risarwirr crsrramrst :a r`~ia (;;and !rf Trust aruf rrw rntorti+lg ) ec~der~s ar,d Truster `= rcr+xdirs rs f,r.:, ickxi in ;ear egret*h 1!t
<br />iar~f ige.`wbag }s,t n>{ .:tn:rad r.~ teawnatsic att,Prrtu. r tct t.r.i t.r Bear x,we >irt +~ h - i ~ as S ercckr may reaurnatx[v
<br />r;yy.rtt L ave. try z:_yg "es `s4r Est ;'Mc fisa,.a i,t 'frs,se 1 r,#.rn e e to rp*7 Fox rh+: f _-
<br />-~F.~rx .. 7 Ftr,r;.~usr-o ,-hu*at.,aru ic, ever
<br />
|