|
SO--~~~:?~,?4
<br />9. CtmdemnNbn. Tha.proceeds of any award or claim} for damages, direr or Mnttgtxn[ial, in connection with am
<br />condemnation or other [akin` of the Progeny, or pan thercQF, or for conveyance in lieu of ctandemnaftfsn, arc hersby assijnrE
<br />and shall be pard w Lerrdert'
<br />!n the event of a total takint of the property. the proceeds shat) be applied to the SVms secured by this 'Deed of Trust,
<br />~-•'th the excess, if any, paid to 3orrower, In }Tze evrnt of a parrot ukitij of the Property, unless Borrsp7rcr and Lertder
<br />otherwise a{tee in writing, there shall be applied to the sutsg;attured by this Dtad o(.Tnut stun prtaportipo of the proceeds
<br />as is equal to that propottron which the amount o[ the sumrtfeeured by this Deed M Trust immediately prior tq the dale of
<br />Lakin{ bean to the fair marke{ value o[ the Progeny immediatey prior to tha date of taking. with [he bad{rtce of :$! prceeeds
<br />paid to Borrower, -
<br />if the Rrapeny is abandoned by Borrower, or if, after jiotics by Lendet.lo 8orrpwer that the cortdemnor aReri'w make
<br />an award of xtde a claim fpr damages, tioarower fails to. rgpond to Lsntkf within 7p days after the Qate such stdfi{e is
<br />mailed, Lent#r is-authorized {o collect and apply the prpFreds. at [:ender'i optbn,'e({lice to restoration' or repair of the
<br />Property or ro the sums zefured by this Dcyd of Trust. ', -
<br />Untess Lender and Borrower otherwisq'a{tee in writing, any etch application of proceeds to priruiprtl shall not eztrnd
<br />or postpone the due date of the monthly :nstallmemt referred to in paragraphs t and 2 hereof or changa the amwm of
<br />such installments. - ..
<br />20. Borrower Not Released. Pxtensipn of the time jar payment or tpodificatioq of amortization of the sums secured
<br />by this Deed of Trust granted by Lender to any successor in interest of Borrower shall ripe operau to rdeau, in any manner,
<br />the liability of the original Dorrowar and Borrowu's successors m intereai. Lender shill not be required to commerce
<br />proceedings against such successor or refyse to extend time for payment or otherwisF modify amortization of the sums
<br />secured by thin Deed of True by reason o1 arty demand made by the original Borrower and Borrower i successors in interest.
<br />t 1. Forbearance by l.tnder Not a Waver. Any forbearance by Londe( in exercising soy right or remedy hereunder, or
<br />otherwise aiForded by applicable law, shall not be a- wa"fycr of or p«cfude the cxeruse of any such right or remedy.
<br />The procurement of insurance or the paymem of razes or other liens or chaffget by Laqdcr shalt not be a waiver of Lenderi
<br />right to aecrlerate the maturity of the mdtbtedness seeurtd by this Dted of Trust - `
<br />?2. Remedies Cumulailrt. AI! rcmeditis provided in ihis Ueed of Trutt art distirtet and cumulmivt• to any other right
<br />or «mtdy under this Dcrd of Trust or atjorded by law or tgwty, and may be tarreizW concurrently, independently or
<br />suocrssively.
<br />13, Successors and Astlgm Sound; john and Sevarnl LIablHty; Caprlons. The covenants and agreements herein
<br />contained shnB bind, and the nghts hereunder shall inu« [n, the rczprcovt successors nntl asvgnx of Lcndcr and Burrower.
<br />subject to the provisions of paragraph 17 hereof. All covenants and agreemens of Borrower shall be calm and several.
<br />The captions and headings of the paragraphs of the DcCt! o[ Trust arc (or convenience only and ate not to he used to
<br />interpret or dr6ne the provisions hereor.
<br />14, Notice, Except for any notice required unJer applieablc law ~to be given m another manner, (at any notice to
<br />Barrpwer provided Cor in ihis Deed of Trust shall be given by mailing suph notice by eernfied mail addressed to Borrower m
<br />the Property Address qr m such other address as Borrower may des,g{satc ray noucc !o Lender as provided he«m, and
<br />(b) any notice to Lender shall be given by cettified mai4 return receipt reyutsted, to Lender's address stated heron or to
<br />such other address az Lender may designate by notice tp Borrower as provided herein. Any notice provided [or m this
<br />Deed of Trust shall be deemed to have been given to Borrower or Lcndtr when gwen :n the manner designated herein.
<br />Ii. Uniform Deed of 'I'rusr, Governing Low; Sererability. This form u[ decd of :nut combines uniform covenams (er
<br />national use and non-uniform covenants wi(h limited vanauons by ;unsdwtion m constitute a uniform secunry insuumem
<br />covering real property. This Deed o[ Trust shall be governed by the law of the jupsJiction :n which the Property is located.
<br />In the event Shat any proyis:on nr clause of the Deed u('1'rw[ or the Note conljicts with applicable law. such condia shall
<br />not aBrc[ vthFr provisions of this Deed of Trust or the Note which can be given eHcct without the conBicting provision.
<br />and to this end the provisions of the Uted of~Trust and the Vote. art declare) to be severable.
<br />lb. Borrower's Copy. Borrower shell be [urnishcd a conformed copy of the Note and of this Dead of Trust at :he time
<br />o[ execution or offer recordnuon boreal.
<br />17, Transfer u[ the Property; Assumption. !( all ~nr any part pf the Property or an intcrnt Iherun is sold or transferred
<br />by Harrower without Lender's prior wnuen consent, excluding ta) the creation pF a lien oc Sncumbranw subordinate to
<br />this Deed of Trust, (b) the ercatwn of a purchase money secunty interest for houscho!d appiiandes. (C) a transfer by devise,
<br />descant or by pprration of law upon tfrz death o(a juror tenant or
<br />LtnJer may, at LenJer~s optipq declare ail the sums secured by this Ike) ni Tnst to he
<br />iramcJintciy cue and payabit. Lender shalt have wa;vrd such option ;c acceiera:c a pror :o ;ha •aic or era: sftr, Lender
<br />un:d tht person !o whom the' Property is l0 6e sold ar iransicrrcd reafh agrecmrm in wrung tha! the crcd;t u1•xtch error
<br />rs satisl aetory to L ender and that the interest payaa!e o.: the curia sccurat try t..^.is Dccu e! T%s! sh.^.!! nr a :ur.^. vale a.
<br />f_pndtr shu!I reygtst. tf Lender has waivtJ ;he opton tv accelerate pfuviJed :n this parigraph !', and J !)orrowerb sucrasor
<br />in interest has executed a wnucn assumption agrcemet+t attcpted :n Wrung by LetiJcr, Lender shu!i rehase Burrower tram
<br />all obligations under this Uccd o[ Trust and the Vote.
<br />I[ Lender exercises such pptien to accelerate, i.enJet +halt mgil Borrower notice of acceleration in acenrdancr wish
<br />paragraph IS boreal. Such notice shall provide a gonad tsl :at Iczs than lU days' from the J:dc the noucc :+ mmirJ within
<br />which Borrower may pay the sums Jeelarrd cue. I( Burrower farts to pay wilt sums prmr to the c+p:rauvn of such panaJ,
<br />Lender may. without further notice or demand on HormweL mvpke tiny rtmcdiq permiutd by paragraph I B hereof.
<br />NON•U NI r-OXM COrP,NA NTS. BofrpWer and Lender turbo Covenant and agrye as lollows.
<br />tg. Accrleraliun; Remedies, Exetpl as provided in paragraph 17 hereof, upon Borrower's 6reoch of tiny cotenant or
<br />a[{reentenl of Burrower ip Ibis Ured of Trust, including the Carenvnts to paY-when due any scans secured 6y this Utrd
<br />p( "frost, I,endrr prior to gecelrrution shall mail notice lu lforrowrr ea prurided in paragraph 14 hrreaf specifying: (1) the
<br />6rtaeh; (21 the action required to cure such breach; (3) a dine, not leas than 3Q days from the dale the notice is moiled to
<br />Borrprrer, by which such itiesrh must t1e cured; and (Q) that fgilure to cure such breach tin or before the dart specified
<br />in the cutler may rcavH ip aetclern!ion ~f the vines srFyrrJ 6y this Ured of Trust rand soh of the Property. ~f he notice
<br />shall funhrr inform Borrower of the light to reinatatd~gfn•r pcceleratiou oral) the right to bring a coup action to assert
<br />the nun-existence of v de(uull or any p{her defense pf -L{orruwu to uceeleratiun end sale. (( :he breach is not cured
<br />on ar before the Butt specified in the ratite, Lender rat f.eaider's option may declare all of the sums secured by this Decd
<br />of Trust lu 6t immrdiatzly due and poyubte without fort lief drmnpd and may in+okr the po+ver of sale and ant other «medlea
<br />pcrmillcd by applicable low. Lender shell be rntillCd tv rolled utl rrasunable cools nnA expenses incurred in pursuing the
<br />remedies prgvided in !his paragraph IB, iu9uding, but put limited to, reusanable ntmrney's fees.
<br />If the pewee of sale is invoked, TrySlee shat! record n nutlet of tleEaud in each cowrty in which the Property or spine
<br />pan thereat iS located seed Shat[ mall roplpx of such naiFt in the manner preFrribrd by applicabfr low to Barrpwer and to the
<br />otfser ptrspns grtacribtd by appBcable Iasv. Alter the lapse of sncR time a; nsay be required by npplicgblc law, Trustee shall
<br />girt pub(lt notice of znle Io the percgnc and in fire manner prrsrriW;d b'y applicable law. Trustee, withpui demand on
<br />Bprroxre{, shall sell the Frapirty at public suction to the highest bidder ql tkt time and place and under the terms designated
<br />In the notice pt salt in one pr more parre)a and ip curb"ordrr as 7rwtge may detetminr, Truster may postpone safe of till
<br />ur any parcel of the Properly by public announcemrm qt the time anfj piece of any previously scheduled sale. Lender or
<br />tender i denigne: may purchse thr Property at any sale'
<br />Upon receipt of pnymenl a( the price [ride Trustee shall deliver to the purchaser Tttfstre's deed conveying the PropMy
<br />apld. Tier rrrituis is the •Ffustee`s died shall be prima f;(cie c>idrntt• p( the Truth of the ifatemcnls made therein. Truster
<br />shat! apply the proceeds o{ tlsr salt in the foltoiritte ord~; }a) to all rcas'pnabir rusts and r;pen+r+ of the salt, intludirtg. but
<br />_, i'.., - _ ,a, ,rv +r .. r g; rn r pr. - uspn .,..- .,..,r .cj';
<br />title eridtncr; th} fu all sums secured 6y this ,Uccd of Try(; and (c)'thr cxFess, •if an}~~to~rhF Pusan or pcnons legulty rntillyd
<br />thrreto.
<br />i 9. Borrower's Ri{hl to Rtinst ale. NotwrthstanJrnB-Lc nJtr's acccleralmn of she sums ,ca:rcJ by ihis Decd rat 7 nut.
<br />"borrower eras!! hare chi: right to bare any prsxerJ:rag, begun by ! rnder w en[vnt !his Dr.d of l?u,t ~.nunurJ a
<br />.,ray s.rr,t pror ru the earlier to occur u( (t) :hr fifth Jay believe the s.dr n( the Property pursu.un to !hc power n! ,a lc ; uv.,: ocJ
<br />nn ttsra Dec) of Tn,sr ur in) enuy of a jud{ntrnt er,lorong this UxeJ u! Tr,isE ,!. ta) Burrower pays Lrr,dcr ail au: m, wh:d, ~.•u,Jd
<br />+x rhrn due unJer !lira Uccd of "trot:. the Note +nis nv;c~ x g Fwvrz Advances.:! ar,}, h.,;! nr:.i mr.,t:an o .~.
<br />s
<br />"i B.;r,.,we e r ..!I brcathei u( any vihcr covanan:r ur+agrcemt s vl lice c r snrr ilia -l - "
<br />f_j k>..r:.w., i• ":-- hie [ ,,t `i :: r: h. :.: nd,:r gyn., ~{r .. "t ~- b i .s
<br />Horruwzr cun:amts'.~s+~a~s Drzd of crust n.td rr• rnfot.mg LeO~_f Y .,. d _.ta s rcmr...u 1 ,.. ,cei .. t.~:
<br />..creui t>,Jsng. but , hrcutzJ !~, rr+surat>ie afiufnct's i+,d iJ; iiorruwrr :.,SU such +. ... ~,+. •
<br />cq..rc :,- •ss1.s !hat t>. ~.:c,: of th.s CXeJ o. „st. i... .,r s =acres. ... `?r ,c _ i, .t,ws. s 'g.,: ...~ .. ,:.:y
<br />
|