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<br /> i 14. Rehabpitation Loan Agreement. Bonowcr shall fulflll all of Bonower's abligations ucader any home t
<br /> rehabilitation. improvement, repair or other loan agrcement which Borrower enters into wi�h L.ender. Lendcr. at �°?
<br /> ;'awrn.-.
<br /> j Lcnder's option,may require Borrowcr to eaccutc and deliver to Lendcr, in a form acccptable to Lender.an assignment :�'-�r�r
<br /> of any rights. claims or defet�ses which Horrower may have againsc pnrties who supply labor.material s or scrviccs in �-:���-
<br /> � connectlon with i�nprovements made to the Property. '�`=`�
<br /> , I ;:u_� ��.
<br /> � IS. Trnnsfer of the Property or a Beneficial Interest in Borrower,Assumption. If all or any puc of the Property _
<br /> ' ior any intcrest in it is sold or transferred(or if a beneficiat interest in Borrower is sold or transtened and Borrower is --_
<br /> � not a natural petson)wtthout Lender's prior wdtten consent,Lender may, at Lender's option,for a�y reason, declare
<br /> all the sums secured by this Deed of Trust to be immediatcly duc and payable. However. �his option shall not be _
<br /> exercised by I.ender if exercise is prohibited by Federal law as of the dute of this Deed of Trust. „ __
<br /> � If Lender exercises this optton, Lender shall give Bonbwer notice of acceleration. The notia staall�srovide a periad ,��� � �
<br /> . af not less than 30 days frorn the date the notice is delivered or mailed within which Borrower rnust p�y all sums secured ��
<br /> by this Deed of Trust. If Borrower fails to pay in full these sums prior to the expiration oF t6is period,Lender may _
<br /> invoke any remedies permitted by this Deed of Trust without further notice or demand on Borrowtt, . __
<br /> f This Deed of Trust may not be assumed by a purchaser without the L.ender's consent, If an aswmpion is allowed,the
<br /> � L.ender may chazge an assumption fee and require the person(s)assuming the loan to pay additional charges as authorized
<br /> ' by law.
<br /> ARTICLE II
<br /> �i.
<br /> �..' NON-LJIVIFORM COVENANTS. Borrower and Lender further covenant and agrec as follows: _
<br /> � � 16. Acceleratton;Remedies. Upon Borrower's breach of any covenant or agreeraent of Borrower in this Deed ,�_F
<br /> � _� af'Tr��.st,including wtthaat limitation the covenants to pay when due uny sums under the Note securerl by tdis '�'�-
<br /> 't�c
<br /> Deed of Tru.st. Lender.at I,ender's optton,subJect to the following sentence,rn�ay daxlare all ottlze sums secured �:::.r• . :C_
<br /> , ' by this Deed of Trust to be immediately due and payable wtthout demand or nofice a�sd e►nt Ir.�ak�ih�jsa�:cr ' •,�
<br /> ' of sale,and any othsr remedies permitted by applicnble law. Prtor to recording any notice of dttaitlt I.ender shall +•�;, �t�,
<br /> give Borrower nottce oi default as required by law and,in the event of a default consf sting oaly of Borrower s f=�.:, ;.;_
<br /> ; failure to make a required payment,Borrower shell once,as provided by law,6ave twenty (10) days after such - :n t
<br /> � notice is given to cure such default by tendering the amou[:2 dus at the t[me o�the tencler,without acceleration, �� �
<br /> �� !us an unpatd charges. After recording e notice ot default,I.ender shall be entitled to collert In such proceeding ':
<br /> PY ,..,. �,.:
<br /> � all expenses of foreclosure, including, but not limited to, reasona6le attorneys' feav qr trustee's and costa of �;�
<br /> , documentary evidence, abstracts and title reports. �"`�
<br /> f Q�„�'�
<br /> If the power of sale is invoked,Trustee shall record a notice of default in each county in which any part of the Property �y
<br /> is located and shall mail copies of such notice in the manner prescrtbed by applicable law to Borrower and to the other
<br /> persons prescribed by applicable law. After the time required by applicable law,Trustee shall givepublic notice of sale �•�
<br /> ' t� to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the �„�-_ _
<br /> Property at public auction ro the highest bidder at the time and place and under the terms designatedin the notice of sale _—a-
<br /> � in one or more parcels and in any order Trustee detemunes. Trustee may postpone sale of all a any parcel of the �c_._
<br /> ' � Property by public announcement at the time and place of any previously scheduled sale. Lenderof its designee may _ _
<br /> t• � � purchase the Property at any sale.
<br /> t_wa�:
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<br /> � �:1��
<br /> � Trustee shall apply the sale proceeds. first,to the costs and expenses of exercising the power o f sale and of the sale, �:�.
<br /> � including the payment of the Trustee's fees actually incuned not to exceed fifteen pereent(1 S�)of�he gross sale price, —
<br /> second, co payment of the obligation secured by this Deed of Trust, third, to �he paymeat o(junior trust deeds, �.������^�''�
<br /> � mortgages or othcr lienholders, and the balance,if any, to the person or persons legally entiiled ihcreto. . ":��'�,` ��
<br /> � '•`'":`�.,, _'�f,
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<br /> � 17. Ass(gnment of Rents; Appotntmenit of Receiver. As additional security hereunder, Borcowen c�reby assigns to ,
<br /> � Lender the rcnts of the Property,provided that Bonower shall, prior to acceleration undcr pangraph l6 hereof or
<br /> : abandonment of the Propeny,have the right to collect and retain such rents as they become du�and payable.
<br /> ' Upon acceleration under paragraph I 6 hereof or abandonment of the Propeny,Lender shall be ent ided to have a receiver
<br /> � appointed by a court to enter upon,take possession of and manage thc Property and to coll�ci the rents of the Property
<br /> including those past due. All rents cullected by the receiver shall be applied firsc to payrnent otthecosts of management
<br /> • of the Property and collection of rents,including,but not limited to receiver's fees,premiums on rcceiver's bonds and �
<br /> reasonable attorneys'fees, and then to the sums secured by this Deed of Trust. The receiver sh all bc liable ta account �
<br /> � only for those rents actually received. I
<br /> .L .L_ �.. nl�n L . .
<br /> 18. Loan Chur�;c.w. If thc loan secured by thts IJCecI ot t rust is suojcci w U I{IW W«lb���41>U tMLLI l4: ...a:.,.....:a�s.
<br /> and that law is tinally interpreted so that the interest or other loan charges collected ar to be collecied iu connection with �
<br /> the loan excced permiued limits,thcn: (1)any such loan charges shall be reduced by the amoun�neccssary to reduce I
<br /> the charge to thc permitted limit;and(2) any sums already collccted from Borrower which excecded permitted limits
<br /> will bc refunded to Borrower. �
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