|
. �
<br /> �w.. ...._.. . . . ��.. . ' „ , :. ��` . .:�r�� ;'''..;'.
<br /> r• �,Y. ._.1�._
<br /> . �.�J>;.=
<br /> g�- �00860 i;..__
<br /> 14. RchubUltutlan Gaun Agrcement. Borrowcr shnil fulfill all of Horrower's obligAtions undcr any homc
<br /> • rehubilltAtion, Improvement, rcpuir or othcr loan agrecmcnt which E3orrowcr cnters into with Lendcr. Lcndcr, nt � _=
<br /> l.e n d e r's o ption,mn y re qulre Borrawar to execute and deliver to Lf:nder, in n form ucceptnble to Lender. nn Assignment
<br /> • of any rights,clufms or dcfenscs which 8orrowor may have ogainst partics who supply labor, mater ia ls or scrv i c e s I n ,
<br /> cannection with imhrovements mude to the Propeny.
<br /> l5. Trunsfcr ot tho Praperty or a i3eneticta)Interest in Dorrowcr, As.gumptton. If nll or uny psut of thc Propeny �_
<br /> ,,,,..��� or nny intcrest in it is sold ar trnnsfcrrcd(or if n boncRcinl intcrest!n Barrawer is sold or transfcrred and Banowcr ls _
<br /> - � not n nnturnl person)withaut Lendcr's prior wrtttcn consont,Lcndcr may,nt L.cndcr's optian,for uny rcason,dcclurc '
<br /> � ull thc sums sccuncd by this Decd of Trusc ta bc immcdiAtcly duc and pnyabic. Howcvcr. this aptlon shnll not bc �>
<br /> exerclscd by l.cnder if exerclse is prohibited by FedcrAl law as of thc datc of this Dced of Trust. _.
<br /> If i.ender exercisea this aptian,Lender shall giva Horrower nodce of accelerAtion. Tlie notice shall pravlde u pertad `–-
<br /> af not Iess thun 30 days from ttie date the notice Is delivcred or mailcd withinwhich Bon•owcr must pay�11 sums secured
<br /> 6y this Decd of Trust. lf Borrower fAils co puy in full thcso sums prlor to che expirniian of this period, I.ender may
<br /> Invoko Any rcmedtes permitted by tt►is Aced of Trust without further noticc or demand on Borrowcr.
<br /> This Decd of Trust may not be ussumcd by a purchaser without the Lender's cansc�t. If un assumption ia ullowed,thc
<br /> � Lendcr muy churge an assumption fec nnd requirc thc person(s)assuming the loan to pay:►dditlonal charges ns authoriud . ______
<br /> by law.
<br /> ARTICLE II
<br /> . �
<br /> �� NOid-UNiFORM COVCNANTS. Borrowcr nnd Lendar further covenant und ngree as follows:
<br /> t6. Accelerut[on;Remedtes. Upon Dorrower's breuch of uny covennnt or ngrcement o[13orrower in this Deed
<br /> �+.� ot Trust,including wlthout lim(tation thc covenunts to pay when due uny sums undcr tho Note sccurcd by thts
<br /> Dced oP Trust. Lendcr,at Lendcr's optian,subJect to the[ollowin�sentence,may dcclarc ull of the sums secured
<br /> by this Dced of Trust to be immcdlateiy due und puyubie wii�out slcs:saas!ur noi[co ans�m�y!r_vnke the Qower
<br /> �,_ ot sale,und nny othcr remedies permitted by uppltcable law. I'rtor to recordtns any nottce ot default Lender shnll —
<br /> . give Borrower noticc af defuult as requlred by law und,in the evcnt of u dePault consisttng only ot Borrowcr's
<br /> " fuilure to mAke a requtred pAyment�Borrower shull once,ns provtded by Inw,hAVe twenty (20)days aRer such
<br /> � � notice(s gtven tu cure such de[uult by tenderin�the amaunt due ut the time of Ihe tender, without acceleratlon,
<br /> plus any unpnid charges. After recordtng a nottce of defuult,Lender shnll be entiticd to collect tn such proceeding
<br /> # ull expenses o[foreclosure� includin�, but nat limtted to, reASOnabte uttorncys' tees or trustee's and costs of
<br /> ,.. documentary evtdencc, ubstrncts nnd title reports.
<br /> �r
<br /> �� If the power of sale is invoked,Trastee shull record a notice of default in each county in which uny part of tlie Propeny --
<br /> � � is located und shnll mAil copics of such notice in the manner prescrtbed by npplicuble law to Borrower and to the other
<br /> persons prescribed by upplicuble law. After the timc requlred by npplicable luw,Trustce shall giva public nottce of salc
<br /> ro the persons und in the manner prescribed by Applicable IAw. Trustee,without demand on Borrowet, shuU sell the _
<br /> �'• Propeny at public auctton to the highest bidder ut the cime and pluce und under the terms designuted in the notice of sule __
<br /> In one or mora parcels and in any order Trustec determincs. Trustcc mny post�one snlc of nll or uny parcel of the ___.__.
<br /> � Property by hublic nnnauncement ut tlic time and plucc of uny prcviously schcduled sale. Lcndcr of its dcsignce mny __
<br /> � purchase thc Property ut nny sa(c.
<br /> �� --
<br /> P� �;: __-
<br /> Trustee shAll upply ths s��le pmceeds, Cirst, to the costs und expenses of exercising thc power of snle and of the sale, �___.
<br /> l including thc payment of thc Trustee's fees Actually incurred not to cxceed tifccen percent(1570)of thc gross sole price, �._^
<br /> second, to puyment of thc obligatian securcd by this Dced of Trust, third, to thc payment of junlor trust decds, ��y,�-4_
<br /> � mortg�ges or other licnholders, and the balnncc, if any,to thc person or Persons legnlly cntiticd thcreto. �:°=6-_
<br /> �.�• �
<br /> l7. Asstgnment of Rents; Appointment of Recetver. As additional securlty hercunder, Borro�ver hereby assigns to '�;_.__
<br /> L.ender the rents of the Praperty, provtded that Borrower shnll, prior to acceleration under pAragraph 16 hereof or ���;���`
<br /> nbandonment of the Property,have the right to collect and retain such rents as thcy become due and payublc. '�•
<br /> Upon accclerution unctcr puragruph 16 hcrcof or abandonment af the ProRcrty,I.cndcr shall be entitled to have a receiver
<br /> nppointcd by a caun to enter upon,take possessian of and munage thc Property a»d to collect the rents of the Propeny
<br /> including those past duc. All rcnts collected by thc recciver shall bc npplicd f rst to payment of thc costs of management
<br /> of the Propeny:u�d collection of rents, including,but noe limited to receiver's fecs,prcmiums on receiver's bonds und
<br /> rensonuble ut:orneys'fees, and then to rhe sums secured by this Deed of Trust. The receiver shaU be liable to account
<br /> only for those rents nctually received.
<br /> t., ..w.. L'__—
<br /> 1 18. l.oun Clturges. lf�hc tonn sccurcd by this Dced ai'I'n�st is sui�jcce io n it�w Wi�����,�i����ar���:ac�� ...:��....,:r�s,
<br /> _ ; nnd thnt Inw is finally intcrprci�:J so th��thc intcrest or oQ�cr loan cliargcs collcctc�l or to bc collcctcd in conncction with
<br /> thc loun cxcccd permittcd limits,thcn: (1):tny such loan cliargcs sh:dl bc rcduccd by tlic amount ncccssury to reducc �-- -
<br /> I the churge to thc permittcd limit;and(2) any swns ulready coUcctcd from Borrowcr wliich cxccedcd permittcd limits I
<br /> i will be rcfunded to Borrower. �
<br /> ' �
<br /> �
<br /> �
<br /> : �y��„�y NI/V71 NC FR�ANAt�PL'I.IkeJ
<br /> }NIN!(NerUl1 a � /� , 1711f1W6tA GIMHUIULA i.
<br /> v ��� �' C �,�i ,
<br /> ,
<br /> --._ __ _ _ __ _ - __
<br />
|