|
�0��0��5G
<br />all sums secured by this Deed of Trust. If Borrower fails to pay these sums privr to the expiration of this period, Lender
<br />may invoke any remedies permitted by this D�ed of Trust without further notice or demand on Borrower.
<br />NON-UNIF�RM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br />17. Acceleration; Remedies. Except as provided in paragraph 16 hereof, upon Borrower's breach of any
<br />covenant or agreement of 8orrower in this Deed af Trust, including 8orrow�r's failure to pay, by the end of 10
<br />calendar days after they are due, any sums secured by this Deed of Trust, Lender prior to acceleration shall
<br />give notice to Borrawer as provided in paragraph 12 hereof specifying: (1) the breach; (2) the action required to
<br />cure such breach; (3) a date, not less than 20 days from the date the notice is mailed to Borrower, by which
<br />such breach must be cured; and (a) that failure to cure such breach on or before the date specified in the notice
<br />may result in acceleration of the sums secured by this Deed �f Trust and sale af the Property. 7he notice shall
<br />further inform Borrower of the right #a reinstate after acceleration and the right ta bring a court action to assert
<br />the nonexistence of a default ar any �ther defense of Borrower to acceleration and sale. If the breach is not
<br />cured on or before the date specified in the notice, Lender, at Lender's option, may declare all of the sums
<br />secured by this Deed of Trust to be immediately due and payable without further demand and may invoke the
<br />power of sale and any other remedies permitted by applicable law. �,ender shall be entitled to collect all
<br />reasonable costs and expenses incurred in pursuing the remedies provided in this paragraph 17, including, but
<br />not limited to, reasonable attorneys' fees.
<br />If the power of sale is invoked, l'rustee shall recard a notice of default in each county in which the Property
<br />or some part there�f is located and shall mail copies of such n�tice in the manner prescribed by applicable law
<br />ta Bd�rower and to the other persorts prescribed by applicable law. After the lapse of such time as may be
<br />required by applicable law, Trustee shall give public notice of sale to the persons and in the manner pr�scribed
<br />by applicable law. Trustee, withaut demand an 8arrawer, shall sell the Property at public auction to the highest
<br />bidder at the time and place and under the terms designated in the.notice of sale in one or more parcels and in
<br />such order as Trustee may determine. Trustee may postpone sale of all or any parcel of the Property by public
<br />announcement at the time and place of any previously scheduled sale. Lender �r Lender's designee may
<br />purchase the Property at any sale.
<br />Upon receipt �f payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed conveying
<br />the Property sold. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements
<br />made therein. Trustee shall apply the praceeds of the sale in the following order: (a) to all reasonable costs and
<br />expenses of the sale, including, but not limited to, Trustee's fees actually incurred of not more than
<br />5.00 % of the gross sale price, reasonable attorneys' fees and casts of title evidence; (b) to all sums
<br />secured by this Deed of Trust; and (c) the excess, if any, to the person or persons legally entitled thereto.
<br />18. Barrower's Right to Reinstate. Notwithstanding Lender's acceleratian of the sums secured by this Deed of
<br />Trust, due to Bnrrower's breach, Borrow�r shall have the right to have any proceedings begun by Lender to enforce this
<br />Deed of Trust discontinued at any time prior to the earlier to occur of (i) the fifth day before sale of the Property
<br />pursuant to the power of sale contained in this Deed of Trust or (ii) entry of a judgm�nt enforcing this Deed of Trust if:
<br />(a) Borrower pays Lender all sums which would be then due under this Deed of Trust and the Note had no acceleration
<br />occurred; (b) Borrower cures all breaches of any other covenants or agreements af Borrower contained in this Deed of
<br />Trust; (c) Borrawer pays all reasonable expenses incurred by Lender and Trustee in enforcing the covenants and
<br />agreements of Borrower contained in this Deed of Trust, and in enforcing Lender's and Trustee's remedies as provided
<br />in paragraph 17 hereof, including, but npt limited ta, reasonable attorneys' fees; and (d) Borrower takes such action as
<br />Lender may reasonably require to assure that the lien of this Deed of Trust, Lender's interest in the Property and
<br />Borrower's obligation to pay the sums secured by this Deed of 7rust shall continue unimpaired. Upon such payment and
<br />cure by Barrower, this Deed nf Trust and the abligatians secured hereby shall remain in full force and effect as if no
<br />acceleration had occurred.
<br />19. Assignment of Rents; Appointm�nt of Receiver; L.ender in Possession. As additional security hereunder,
<br />Borrawer hereby assigns to l.end�r the rents af the F'rap�rty, provided that Borrower shall, prior to acceleration under
<br />paragraph 17 hereof or abandonment of th� Property, have the right to collect and retain such rents as they become
<br />due and payable.
<br />Upon acceleration under paragraph 17 hereof or abandonment of the Property, Lender, in person, by agent or by
<br />judicially appointed receiver shall be entitled to enter uppn, take poss�ssion of and manage the Property and to collect
<br />the rents of the Property including thase past due. All rents collected by Lender or the rec�iver shall be applied first ta
<br />payment of the costs of management of the Property and collection of rents, including, but not limited to, receiver's
<br />fees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this Deed af
<br />7rust. Lender and the receiver shall be liable ta accaunt anly for those rents actually received.
<br />20. Reconveyance. Upon payment of all sums secured by this Deed of Trust, Lender shall request Trustee to
<br />reconvey the Property and shall surrender this Deed of Trust and all notes evidencing indebtedness secured by this
<br />Deed of 7rust to Trustee. Trustee shall recanvey the Property without warranty and without charge to the person or
<br />persons legally entitled thereta. Such person or persons shall pay all cnsts of r�cardation, if any.
<br />21. Substitute Trustee. Lender, at Lender's option, may from time to time remave Trustee and appoint a
<br />succ�ssor trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this Deed of
<br />Trust is r�corded. Without conv�yance af the Property, the successor trustee shall succeed to all the title, power and
<br />duties conferred upon the Trustee herein and by applicable law.
<br />22. Request for Notices. Bvrrower requests that copies of the notice of default and notice of sale be sent to
<br />Borrower's address which is the Property Address.
<br />`���
<br />ENE204 revl5ed 1012001 (LASER) 6849L1.
<br />
|