|
Kx`.~ 1st. °kr .fit k`E1~ yMYy,qq y,,~ Y +4 `Y1 a
<br /> Irv t`_ ,r t
<br /> c
<br /> ..cn--, _ L - Epp-~•ri~•v~~i~.p+~.7wKr+~,~scr~saa+..:"x'tS` "~"'t^ -'..~'tw.`C~.,:'.'- .,~~-'a -
<br /> .'"""+.....~.."...w.,."'h: •w,.~as ,x-~.~. ~ _~+r.:C.L.'~'y'~S~Yi'r^°°'~'~'r7'...^~af'~.'y~Krr"w+e•+r°...r.,,.. w .•M. . .
<br /> ►+.w.r~:w~w~:.:a..~F.rir'Lr-a.ra:r.«r.w.~'.rrliwln '
<br /> 54o:iii.ra+ 0 D 253
<br /> g, Coadenawzdaar. The proceeds of any award or claim for darnages. direct or cogaequential. in connection with acy
<br /> condemnation or other taking of the Property. or part thereof, or for odatve SOM in iiw of coadernnation, are hereby assigned
<br /> and slwl be paid to Leader.
<br /> In the event of a tow taking of the Properly, the proceeds shaft be applied to the swims snvmd by this 0trd of Toast,
<br /> n th the excess, if any. paid to Borrower. In the eat t+f a partial taking of the Property. uAcss Bormt rr and Lender
<br /> otitterwise agree io writing, there shall be applied to the swats secured by this Deed of Trost such proportion u l 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 Properly immediately prior to the date of taking, with the balance of the proceeds
<br /> paid to Borrower,
<br /> if the Property is abandoned by 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 mss. 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 principol shall not extend
<br /> or putpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change the amount of
<br /> such instailments.
<br /> 10. Borrower Not Rdem* . Extension of the time for payment or modification of amortisation of the sums secured
<br /> by this Deed of Trust granted by Lender to any successor in interest of Borrower Will not operate to release, in any manner,
<br /> the liability of the original Borrower and Borrower's succenom in interest. Leader 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 /> 1 I. Forbearanct by Lender Not a Waiver. Any forbearance by Leader 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 of Trust;
<br /> 12. Remedies Cumulative. All remedies provided in this Deed of Trust are distinct and cumulative to any other right
<br /> or remedy under this Deed of Trust or afforded by law or equity, and may be ettrcised concurrently, independently or
<br /> successively.
<br /> 13. 5uccesson and Assigns Bound; Joint and. Several LhdOity; 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 to the provisions of paragraph 17 hereof. All covenants and agreements of Borrower shall be joint and scvr.ral.
<br /> The captions and headings of the paragraphs of this Deed of Trust are 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 applicable law to be given in another manner; (a) any notice !o
<br /> Borrower provided for in this Deed of Trust shall 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, anJ
<br /> (b) any notice to Lendcv shall be given by certified mail, return receipt requested, to Leaders address stated herein or to
<br /> such other address as Lender may designate by notice to Borrower as provided herein. Any rotice provided for ir, this
<br /> Deed of Trus! shall be dexmed to have been given to Borrower or Lender when given in the manner deasgnatcdd herein.
<br /> 15. Uniform Deed of Trust; Governing Law; Severability. 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 i rust shall be governed by the law of the jurisdiction in which the Property is located. ,
<br /> In the even: 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 this Deed of Trust or the Note which can be gtvcn effect without the conflicting pro»ision.
<br /> and to this crud ilie provisions of the Dew of Trust and the Note at d~lared to be severable.
<br /> 16. Borrower's Copy. Borrower shall be furnished a conformed copy of the Note and of this Derd of Trust at the time
<br /> of execution or after recordation hereof.
<br /> 17. Transfer of the Property; Assumption. If all or any part of the Property or an interest therein is sold or transferred
<br /> by Borrower without Lenders prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to
<br /> this 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 rr any leasehold interest of three years or Icss
<br /> not containing an option to purchase. Lender may, at Leader's 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 if, prior to 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 suO person
<br /> is satisfactory to Lender and that the interest payable on the sums secured by this Deed of Trust shall be at such ra!c as
<br /> Lender shall request. If lender has waived the option to accelerate provided in this paragraph 17.;.nd if aorrau cr`s successor
<br /> in interest has executed a written assumption agreement accepted is writing by Lender. Lender s(lrii release Borrower from
<br /> all obligations under this Deed of Trust and the (dote.
<br /> If I.xndcr exercises such option to accelerate, lender shall mail Borrower notice of acceleration in accordance with
<br /> paragraph 14 hereof. 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 declar-^d due. If Borrower fails to pay such :urns prior to the expiration of such period.
<br /> Lender may, without further notice or demand on Borrower, invoke any remedies permitted by ra.agraph i R hereof.
<br /> NON-UNIFORM COVENANTS. Borrower and lender further covenant and agree as follows:
<br /> 18. Acceleration; Remedies. E etpi its prev+ded in paragrspb 17 hereof, upon Borrower's breach of any cosenanl or
<br /> agreement of Borrower in this Deed of Trust. including the covenants to pale when due any sass secured by ibis Deed
<br /> of Trust, Lender prior to acceleration shall nail notice to Borrower as iwovided is pw`tr:ph 14 bereof specifying: (1) the
<br /> "preach; (2) the action required to cure sucb breach; (3) a date, not less ithan 30 days frog: the date ?)It notice is mailed to
<br /> Borrower, by which such breach must be cured; and (4) that failure to cure such breach on or before the date specified
<br /> in the ootke may result in acceleration of The sums secured by this Deed of Trust and We of the Property. The notice
<br /> shall farther inf...-., Borrower of the right to reinstate after acceleration and the right to bring a court action to assert
<br /> the non-existenr7e of a default or any other defense of Borrower to accektaeiar and sale. If The breach it not cured
<br /> on or bxfare the date spec ed in ibe notice. Leader at Leader's option =my declare all of thr suers secured by this U*ed
<br /> of Trust to be immediately due and payable without further demand and may Invoke the power of sale and any (Aber remedies
<br /> permitted by applicable law. Lender shall he entitled to collect as rewoaable costs and expenses iacwt In pursuing the
<br /> remedies provided In This paragraph 18. Including. but awl. Waited to. reasonable attorary's fees.
<br /> If the power of sale is invoked. Trustee shall record a Notice of default in each eannnty In which the Property or some
<br /> pal thereof is located and shah man copies of such notice in the manner presrn'bed by applicable law to Borrower and to the
<br /> ollser persons prescribed by applicable lair. After the lapse of sack time as may be requh by applicable law. Trustee shall
<br /> give public notice of sale to the personas and is the maaaer prescribed by applicable law. Trastee, without demand on
<br /> Barrov er. shall sea the Property at pusW *W"Ow to the bighest bidder of the tine and place and under the terms designated.
<br /> In the notice of sak in one or mom parcels and in sash order as Trustee may deklmine. Trustee may postpone sale of all
<br /> or easy p~rrcel of the Property by POW anonnetraeat at the time and place of my previously scheduled sale. Lender or
<br /> LendWs designee may purdtrse the Prop" at any sale.
<br /> Upon receipt Of pwynserd of the Price bid. Trt+stee shall deliver to the purelimer Trm$Ws deed ceaveyint ibe property
<br /> soK The recitals ir. the Trasree's deed *M he prima in,* ,J aeuct of the mirk rf the dwen kmb made ebervin. Traaee
<br /> oboe apply flee proceeds of the sale In the fa rm elder. (a) to aq reaaoraable roads and expenses or the sale, bnclrrdirgt. l~rt
<br /> not Mmked to, Tneske's fees of went more tbami_ of the grasp tale price. reasonable attorney's fees oat casts of
<br /> titre triderire-, (b) to ail wears :reared by this Deed of Trust; amd (c) the ruses:„ if my. to rise pertow or persons legally entitled
<br /> tberEto.
<br /> 19. Berrowees Ritb: to Rel - Notwithstanding [:enders acceleration of the sums secured by this Deed of Trust.
<br /> Borrower shall have the right to have any proceedings begun by Lender to enforce this Deed of Trust discontinued at
<br /> any time prior to the earlier to occur of (i) the fifth day before the sale of the Property purs..int to the power of sale contained
<br /> in this Deed of Trust or (ii) entry of a judgment enforcing this Deed of Treat if- (a) Borrower pays lender all sums which would
<br /> be then due under this Deed of Trust. the rote and notes seCurilif Future Advances. if any, had no acceh ation occurred:
<br /> bbl Bexro+u<r ever: all bre+chm of any other covenants or agreements of l3crrrower contained in this Deed of Trust;
<br /> (c) Borrower pays all reasonable expenses incurred by lender and Trustee in enfcwcing the covenants and agreements of .
<br /> Bornowtf <antairc'd in this Decd of Truest and in entoming Lenders and -frustce's remedies as provided in paragraph 13
<br /> hereof, iucludirtg, but not limited to. reasonable attorneys fees; and (d) Borrower takos such action as Lender may reasonably
<br /> require to Amrc that the Imn of this Deed our Trost. Lender's interest in the property and Borrower's .•bligation to par
<br />
|