|
81- uu3s5
<br />mtt personally liable on the Note or under this Deed of Trust, and (c! agrces that Lender and any other Borrower
<br />hereunder may agree to extend, modify, forbear, or make any other accommodations utith regard to the terms of this
<br />Dced of Trust or the Note. without that Borrower's consent and without releasing that Borrower or modifying this Deed
<br />of Trtut as to that Borrower's interest in the Property.
<br />12. Nottoe. Except for any notice required under applicable law to be given in another manner, (a) any notice to
<br />Borrower provided for in this Deed of Trust shall be given by del!veeing it or by mailing such notice by certified mail
<br />addressed to Borrower at the Property Address or at such other address as Borrower may designate by notice to Lender
<br />as provided herein, and tb) any notice to Lender shall be given by certified mail to Lender's address stag herein or to
<br />such other address as fender may designate by notice to Borrower as provided herein. Any notice provided for in this
<br />Deed of Trust shall be deemed to have been given to Borrower or Lender when given in the manner designated herein.
<br />13. Cmvaa~g Law; SeTensbiHtyr. The state and local laws applicable to this Deed of Trust shall be the laws of the
<br />jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of Federal law to
<br />thu Deed of Trust. In the event that any provision or clause of this Jeett of Trust or the Note conflicts with applicable
<br />law, such eonfliM shall not affect other provisions of this Deed of Trust or the Note which can be given effect without the
<br />conflicting provision, and to this end the provisions of this Deed of Trust and the Note are declared to be severable. As
<br />used herein, "costs". "expenses" and "attorneys' fees'' include all sums to the extent not prohibited by applicable taw or
<br />limited herein.
<br />14. Ba~roaer's e=;py. Harrower shall be furnished a conformed copy of the Nore and of this Deed of Trust at the
<br />time of execution or after recordation hereof.
<br />I5. Rebabilltatlon Loan Agteereent. Borrower shall fulfill aI! of Borrower's obligations under any home rehabilita-
<br />tion, improvement, repair or other loan agreement which Borrower enters into with Lender. Lender, at Lender's option,
<br />may require Borrower to ezecute and deliver to Lender. in a form acceptable to Lender, an assignment of any rights,
<br />claims or defenses which Borrower may have against parties who supply labor, materials or senrices in connectiodwith
<br />improvements made to the Property.
<br />16. Tramfec of the Prttpierry. if Borrower sells or transfers all or any part of the Property or an interest therein.
<br />excluding (a) the creation of a lien or encumbrance subordinate to this Deed of Trust. (b) a transfer by devise. descent, or
<br />by operation of law upon the death of a joint tenant, or (c1 the grant of any leasehold interest of three years or less not
<br />containing an option to purchase. Borrower shall cause to be submitted information required by Lender to evaluate the
<br />transferee as if a new loan were being made to the transferee. Borrower will continue to be obligated under the Note and
<br />this Deed of Trust tmless Lender releases Borrower in writing.
<br />If Lender, on the basis of any information obtained regarding the transferee, reasonably determines that Lender's
<br />security may be imgaired. or thaz there is an unacceptable likelihood of a breach of any covenant or agreement in this
<br />Deed of T: ust, or if the required information is not submitted. Lender may declare all of the sums secured by this Deed
<br />of Trust to be immediately due and payable. If Lender exercises such option to accelerate. Lender shall mail Borrower
<br />notice of acceleration in accordance with paragraph 12 hereof. Such n=Mice shat provide a period of not less than 3Q days
<br />from the date the notice is r*+~~ted or delivered within which Borrower map pay the sums declared due. If Borrower fails
<br />to pay such sums prior to the expiration of such period. Lender mar. u'ithour further notice ar demand on Borrower,
<br />invoke any remedies perrttitted by pazagraph I7 hereof.
<br />NON•LNiFORAf COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />17. Acceleration; Remedka. Except as provided In paragraph 16 hereof, upon Borrower's breach et aey covenant
<br />or agree®ent of Borrower in this Deed of Trust, Itrcladi~ Borrower's faih>ere to psy, by the end of l0 calendar days after
<br />tber are doe, any sums secured by this Deed of Trmt, Lender prior to urekntion shelf give Mice to Borrower as
<br />pravtded is paragraph 12 hereof specifying: {1) the breach; (2) the action regetred to care such breach; j31 a date, not
<br />lea than 20 days from the date the acttiee is mailed to Borrower, by wbie6 suet breach mast be cured; and (41 that
<br />failure to care such breach oe or before the date specl8ed in the Mice may result in acceleration of the corm secured by
<br />this Deed of Trost and sale of the Property. ilte notice shalt further inform Borrower of rite right to reittstate after
<br />stx~krat~ and the right to bring a court action to assert the noneaisteeee of a defsalt or say other defense of Borrower
<br />W acceleratioe and sale. if the breach fs not cured oa or before the date specified in the notice, Leader, at Lender's
<br />optloe, may dcelare aU of the sums secured by tide Deed of Trust to be tmmedlstety due and payable without further
<br />dettaanc' and rosy invoke the power of sale and nay other retttedks permitted by applicable law. fender sha-I be entitled
<br />to celled aB reasonable costs and expenses Ittewred ie ptusuleg the remedies provided in this paragraph 17, including,
<br />bat oat limited to, reasonable attortstys' Eves.
<br />If the power of sale b tnrolted, Trustee sbatf record a ~tke of tletault le each eoeety in which fire Property or some
<br />part tf fs located and sbatl taaU copks of sash rtorice is the manner prescribed by applcable law to Borrower and
<br />to the oilier persons prescribed by applicable law, AtLU the lapse of such time as may lie rettulred by applicable law,
<br />Trustee shalt give public esatice of sale w the persons and le the maaaer prescribed by apptfcabk few. Trustee, without
<br />demand an Borrower, shell sell the Property at pabtic section to rite hlg6mt bidder at the time and place sad ender the
<br />terms designated le the notice aE sale i~t oue or more partxh and in such order as Trttatee may deierttrlne. Trustee rosy
<br />postpone sale of art er say psml of tLe Property br public announcement at the titer sad place of snr previoush
<br />schedeled sale. t.eeder or !,cedar's designee may pttrchsso the Pcvperty at say sale.
<br />Upon receipt of payment of the price bid. Trmtee she!! deliver to the purchaser Trttstce's dced~conve~ing the
<br />Property sold. The reeltab in ttse Ttvestse's deed shalt be prima facie erzdettce of tt:• truth of the statements made
<br />therein. Trastse shalt apply the proceeds of the sale to the foHow•9rtg order: {a! to ttil trssot-abte costs and expet~es of the
<br />sale, lacfadlag, but trot limited to, TrnsteeY feet actually incurred of not more then ............. jo of the gross sale
<br />pike, reasonable attorneys' teas and costs of title eridetxe; Ibi to art sums secured by this Lhed of Trust; and icy the ez-
<br />ed;, li any, to t~ person or persons kgatty eat[tfer{ tbeteb.
<br />2$. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this 13eed of
<br />Trust, due to Borrower's breach, &artou-er shall have the right to have arty procectitinKs begun by Lender to cntome this
<br />Deed of ?rust discontinued at any time prior to rise earlier to swear of (i) the fifth cis} before the sale of the Pr<>gerty
<br />gursuant to the power of sate e~ontained in this Deed aE'Crust or iii) entry of a judgment enforcin); this Lk~cd of ['rust tf:
<br />(a3 Harrower pays Lender all runts which .vau)d bn' then due'.. utider this I3e:ed of Trust attd the Moir had tta acccieratton
<br />occurred; tb) Harrower cures all breaches of any other cavenaots or ~nteemcntc of Barn=wet an:;ine~ti in this Ih~ed ei
<br />Trust; tc} Harrower pays ail reasonable expenses incurred by Ixndrr and Trustee nt enforrin;; the ~cnenarts and
<br />agreements of Borrower cttntasned in this [~~d of'frust and in enforcing Lender's and I rustic's rcmc,ties as pros-riled to
<br />garagrapkt 17 hereof, including. but not limited to, reastttrabie artarneys' Fees; .uul td) Boric?Her €tl:es +urtt acuan a.
<br />Lender may rcnab(y require to assure that the lien of thu Lard of 1ru+t. i.endrr`, tntrrea to the Proltcrt} .ut,!
<br />Horrowct"s alt#igatirrn to pap the aunts srcurc~ct bg this Deed al I-titer shall cortinur nntnipaircci (';x.n .u: it 15a} r•.ic ni :tact
<br />ettec btr Bocrowst, thtvc Cksd of ~1-rust and the obit~ratinm tiecurid hc•rcb+- sh3Ji rentals: at ii:ii t=+r.-r .ins rttc+i .~+ ti n~.=
<br />aci-elerata>n had c?ccurrc'zt.
<br />
|