|
~~~~~u1~~U ..
<br />4. Condemrtsllos. The proceeds of any award or claim for damages. direct or consequential, in connection with any
<br />cotttfemitationor other taking of the Property, or part thereof, or for conveyance in lieu of condemnation, are hereby assigned
<br />and- shall be paid to Lender.
<br />Ia the event of a total taking of the Property, the proceeds shall be-applied to the sums secured by this Deed of Ttvst.
<br />with the excess, if any, paid to Borrower. In the evene of a partial taking of the Property, unless Borrower and Lender
<br />othtmvise-agree in writing; there shall be applied to the sums secured by this Deed of Trust such proportion of the proceeds
<br />as-is equal to that proportton which the amcwnt of the sums secured by this Deed of Trust immediately prior eo the date of
<br />taking bears to the foie market value of the Pro}rerty immediately prior to the date of taking, with the balance of the proceeds
<br />pad irr a~r«•av eel.
<br />If the-Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to moire
<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 />maBed; Irrttler is authorized to collect and apply the proceeds, at Lender's option, either to restoration or repair of the
<br />Property ar to the sums- secured by this Deed of Trust.
<br />Unless Leader and Borrower otherwise agree in writing, any such application of proceeds to principal shall not'extetrd
<br />or postpone the due date of the monthly installments referred to in paragraphs t and 2 hereof or change the amount of
<br />such inatailmeots.
<br />lei. Borrows Not Released. Extension of the time for payment or modifieatian of amortization of the sums secured
<br />by this Deed of Trust granted by Lender to any successor in interest of torrower shall not operate to release, in any maatter,
<br />the liability of the original Borrower and Borrower's successors in interest. Lender shall not be required to commence
<br />proceeding against such successor or refuse to extend time for payment ar otherwise modify. amortization of the snttls
<br />secured by Phis Deed of Trust by reason of any demand mane by the original Borrower and Borrower's successors in interest.
<br />11. Forbearance by Lender Not a Waiver. Any forbearance by Lender in exercising any right or remedy hereunder, or
<br />cadrwise afforded 6y applicable law, shall not be a tJaiver 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 Trttst.
<br />12. Remedies Cumnlative. All remedies provided in this Deed of Trust are distinct and cumulative to any other right
<br />or eemedy under this Deed of Trust or afforded by law or equity, and may be exercised concurrently, independently or
<br />sta.ces~vdy.
<br />13. Sacceaaors and Asks Bound; Joint and Several Lisbifity; Captfm~. The covenants and agreements herein
<br />contained shall bind, and the rights hereunder shall inure to, the respective successor 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 several.
<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 oz define the provisions hereof.
<br />14. Nodce. Except for any notice required under applicable law to be given in another manner. {a) any notice to
<br />Eotrow~ provided for fn this Deed of Trust shalt 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 nonce to Lender •rs provided herein, and
<br />(b) any notice to Lender shalt be given by certified mail, retttrrt receipt requested, to Lenders address stated herein or to
<br />catch other address as Leader may designate by notice to Borrower as provided herein. .Any notice provided for in this
<br />Deed of Trust shat) be deettred to have been given !o Borrower or Lender when given in the manner designated herein.
<br />15. Uniform Deed of Trtrst; Garernirtg Law; Severability. This torn of deed of trust combines uniform covenants for
<br />natitanal use rind non-uniform covenants with limited variations by jurisdiction to cenatitute a uniform security instrument
<br />covering real property. This Deed of Trust shall he governed by the law of the jurisdiction in which the Property is located-
<br />[n the event that any provision or clause of this Deed of Trust or the ;Dote conflicts with applicable law, such conflict shall
<br />not atfeet other provisions of this lleed of Trust or the Note which can ire given effect without the conflicting provision,
<br />and to this end the provisions of the Deed of Trust and the Note are declared to he severable.
<br />16. lgsarroatx's Copy. Borrower shall be furnished a conformed copy of the Noze and of this Deed of Trust at the time
<br />of execution or after rerordation hereof.
<br />17. Trasrlex of the Properly; Assnmptba. If all or any par of the Property or an interest therein is sold or transferred
<br />by Bo .~::r. wit'to'ai Lender's prior writ*.en eoasent, excluding to j the creation of a lien or encumbrance subordinate to
<br />this Deed of Ttvst, (b) the creation of a purchase money security interest far household appliances, i c) a transfer by devise,
<br />decreer or by operation of law upon the death of a joint tenant or
<br />Lender may, at Lender s option, declare all the sums secured by this Deed of Trusi to be
<br />immediately due and payable. Lender shall have waived such option to accelerate $, prior to the sale or transfer. Lender
<br />and the person to whom the Property is zo be sold ar transferred reach agreement in wnhng the! the credit of ouch person
<br />is satisfactory to Lender and that the interest payable on the sums secured by this Deed of Trust shall be at such rate as
<br />Lemier shall request. If Lender has waived the option to accelerate provided in this paragraph ;?, and if Borrower's successor
<br />in interest has executed a written assumption agreement accepted in writing by Lender, Lender shall release Borrower from
<br />all obtiga~ions under this Deed of Trust and the Note.
<br />if Lender exercises such option to accelerate, i.ender shall mail Burrower nonce oT accelerauon 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 declared due. if Borrower fails za pay such sums prior u7 the expiration of such period,
<br />Lender may, without further notice or demand on Borrower, incoke ant remedies permitted by paragraph 18 hereof.
<br />Nor-UNIFG'ciai t:-GVENANrS. Borrower and t..ender further covenant and agree as follows:
<br />i8. AeeeierNios: Remedies. except as provided is paragraph 1? hereof, upon Borrower's breach of any coretmttt ar
<br />rRrt~:.€af of T.anrower is the Dt:~l of Trusi, includisrg the coveteasts to p~v when due say coats secured by this Deed
<br />of Trrtstt Lendsr prior to atcelerstion shall mail notece to Borrower ss prodded in paragraph l4 hereof specifying: (1) the
<br />broach; (2) the action required to cure such breach: (3) a date, rwt less than 38 days from the date the notice is mailed to
<br />Borrower, by which such bseach mere! be cured; attd (d) that failure to cure sash breach on or before the date specified
<br />in the rrotke may result is acceileratioa of the corns secwed by this Deed of Trust and sale of the Property. The notice
<br />si1gB furlher inform Hor:t:wer of the riglet to reinstate after scceleralion and fire right to bring a court action [o assert
<br />t}te nos-ex~tence of a +~faaft or any err tfefet~e of Borrower to acceleration sad sale. If the breach is not csred
<br />oa or before the bate specitttd in the ttot(ce, Lender at Lender s option may declare all of the sums secured by this Deed
<br />elf Trust fo be irtrmedisldy due and payable without fnrther demand and may incoke the power of sate and any other remedies
<br />pesmllted by appBcabk law. ta.'reder shall be entitled to collect all reastrersble costs and expenses incurred in pursuing the
<br />reatedin provided is tb~ paragraph Ig, iaciudieeg, but nut iimked to, reawitabte atoorney's fees.
<br />N the power erf sale is invoked, Trentee shall record a notice of default is each county in which the Property or some
<br />pact-ttrttatsof a located sad shst9 mail copies o€ such reutice in the meaner prescribed by applicable taw to Borrower and to the
<br />oEber pettsoas prescribed by applfcable law, Alter the lapse of such time as may be required by applicable law. 'Prustee shall
<br />give _pa6Bc notke of sEk to the persons and in the rnsaaer prescrited by applicable law, Trustee, without demand on
<br />Berrowee> shall sell tAe Properly m ptsbUc auction to the highest bidder at the titete and place and under the tenets dtzsigtrated
<br />is ttre ntrtitt of stele i• one a molt parcels sort in such order as Trrestse rrtav deternaiete. 1 rustee may postpone ssk of all
<br />or asr pares of tYc Patapterty by puWEc aeatwuaceraeett at the lime: and place of any previously uhednkd sale. Leader ar
<br />I.ealAer's elea3~rar trey purcitaee the Property at rely sak.
<br />Uir~a re:~. : psyraem of the priix :.A, Trerstee s~St Miser io t~ percher Trustee's deed conveying the Property
<br />art8d. 1'he eecHsk in 4he Treastee's treed shag be prima facie evidence of the truth of the ststrareats made therein. Trustee
<br />t~ atpfr4y the ~~so~~~eeds of the: la the following order. ta) to all reasomtbk casts and rxpeases of the sale, inciuditeg, but
<br />sot ! la. Yrsslee's foes of not snore thaw ~.~` 2 L3f ~.:4 of the gross sate prier, reasoaabie attorney's fees cud costs of
<br />tiMa evliesrYt (h) Ao all sssu secured by this lAeed of Trull; and tc) the excess, if any, to the person ur perweu IcRallr eatilkd
<br />i11Y1t0.
<br />If: ~etrroerrer's Bip,3t to Reirsstrtle. `.otwiihsiandt„g 1-ettde s Pict t i t x naa -: ed by !h.s Deed c f Trust,
<br />Bturower shall have the ngltt to have asst I+rtx:eedings iaegun t+y lender t- -tl!r:r tt'n f7eGd .,f Tnis: ciiscutttinucd at
<br />any tires prmr io Ehe earlier to ex cur oi_ tt} tiK fifth day Lx;forc the sale of ;hv Yna}x ny prttauant w zhe sower of sale contt{fined
<br />in «his Dtxd of Tntfa or fti} entry of a jaulgrncnt etaforcing this Decd of Tnsst cf' . at Harrowrr fat; i ender .:11 sums which could
<br />tit then due- r:mlcr thix i)erd nt Trusi. ihzz Nttte ::nd notes tecurtng Future Rdtan~es, r; sny, hxd no .t«eieration rxcurrcd:
<br />tb) Borrower cures alt baeaitts of stay outer covenants or agreentsr:tt of Isarr.*wrr ~nntaircal +n this Dead of Trust:
<br />lei Bcutowar pays alE reasernabie expenses tm:rtrre.l tYi Lender and T"rustre in ,:nta•.~ng the :..-ctrarts and .rgrerments of
<br />Btrnrnrtr cantatted itt this Deed of "trust aruf +n tint{~n:ing Lcndcr~+ arras ~Tnt,t>e'; -:nte,ires :+. i,r„~,~led rn psragtaph 1u
<br />hereof. inclatditag, but taart hmtted tu, rvdsa:nable attr,tner's Less. at.d ttl} Ffesrr:>r.et take. r " ..:.i,~,e, ;+ t rnd'r Wray clan?nobly
<br />require tc> aicut'Y thrd the irC.n eyl thu Dcce.l n! 'i'ru+i, t.,'ndet-~ :+?terriE ;s~ ahc Ysv;>etta .;xrd 13,+rr.,wrr , „r,h}t:ttrim to C;ty
<br />
|