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<br /> I 14. Rehabilttntion Loan Agreement. Borrower shaU fulfill all of Borrower's obligations under any hame ,. _
<br /> I rchabilit�tion. impravemcnt, repair or othcr loan agreement which Honowcr cnters intu with Lender. Lender, at ,
<br /> ' Lc:ndcr's optien,may require Borrower to execute and deliver to L.endcr, in a form acceptable to Lender. an assiBnment
<br /> of Any rights. claims or defenscs which Bottower may have against parties who supply labor, materials or services in I
<br /> I co�ection with improvements made ro the Property. I .,
<br /> 15. Transfer aP the Property ar a Beneficiul Interest In Borrower,Assumpliun. If all or any part of thc Property ._f, __
<br /> or any intcrest in it is sold or cransferred (or if a beneficial int�rest in Borrawer ls sold or cransfcned and Bonower is ,�-y;
<br /> not u natural person)without Lendcr's prior written wnsent, L.ender may,at 1.ender's option,for any reuon,declarc .-_
<br /> all ihc sums sccured by thls Deed of Trust b Federal laweas of the cla eaofthis Dced of Trust$optlon shall not be •: ,`
<br /> exercised by Lender if exercisc is prohibited y `%`'-'°:"�`-
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<br /> � 1 If I.ender exercises thls optian,Lender shall give Bonower notice of aceeleration. The noticc shall provide a period � --_ -_. __
<br /> ' of not less than 30 days from che date the notice is delivered or mailed within which Bonower must pay all surns secured •
<br /> � by this Deed of Trust. If Borrower fails to pay in futl these sums prior to the eapiration of this period,Lender may .�
<br /> � invoke any remedies permicted by this Deed of Trust without further notice or demand on Bonower. •-r._:
<br /> ' I This Deed of Trust may not be assumed by a purchaser without the Lender's consent. If an assumption ia allowed,the -
<br /> � I i.,ender may cha��e: �assumr•ion fee 4nd rP,quire the person(s)assum{ng the loan to pay additional charges as authorized , ,�;n
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<br /> � � by law. •....t W�-
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<br /> ARTICLE II
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<br /> ��� NON-iJNIFURM COVENANTS. Horrower and I.ender further covenant and agree as follows:
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<br /> + ; 16. Acceleration; Remedies. Upon Borrower's breach of any covenant or agreement of Borrower in this Deed �_�'`
<br /> �' ' of Trust,including without ltmitatton the coveaants to pay when due any sums under the Note secured by this �
<br /> � Deed oi Trust. Lender,at Lender's optton,subJeM to the following sentence,may declare all of the sums secured ,.. —
<br /> _� oy ttus De�d of Tr�st t4 be tmmpdtately due and payable without demand or not[ce and may invoke the power
<br /> i of sale,and any other remedies perm[tted by applicable law. Prlor to recording any notice oP de�'auIt i..�ti�er finall
<br /> give Borrower notice of dePault as requfred by low and, in the event of a default consisting only of Borrower's
<br /> failure to make a required payment, Borrower shall once, as prov[ded by law,have twenty(20) d4ys after such
<br /> nottce is givea to cure such defeult by tendcring the s�mount due at the time of tUe tendcr,without acceleration,
<br /> ' p(us any unpaid char�es. After recording a noticE of deteult,Lender shall be entttled to collect in such procadlnB
<br /> � all expenses of foreclosure, Including,but not Umited to,reasonable altorneys' tees �r trustee's and conts ot __ �
<br /> „• I dceumentary evtdence,ab�tracts and t(tle reports.
<br /> � If�he power of sale is invoked,Trustee shall record a noticc of default in cach county in which any part of thc�roperry
<br /> is located and shall mail copies of such notice in the manner prescribed by applicable law to Bonower and to the other
<br /> . persons prescribed by applicable law. After the time required by applicabie law,Truscee shall give public notice of sale
<br /> ` � to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the _ —
<br /> y � Property at public auction to thc highest bidder at the time and place and under the terms designated in the notice of sale
<br /> y ; in one or more parcels ac►d in any order Trustee determines, Trustee may postpone sale of all or any parcel of the r--
<br /> " � Properry by public announcement at the time and place of any previously scheduled sale. I.ender of its designee may �"_�-
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<br /> purchasc the Propeny at any sale. c`'__.
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<br /> Trustee shall apply the sale proceeds, first, to the costs and expenses of exercising Qie power of sale and of the sale, ��_ --
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<br /> ' includiag the payment of the Trustee's fees actually incuned not to exceed fifteen percent(15�)of the gross sale price. [� �
<br /> � second, to payment of the obligation secured by this Dee.�i of Trust, third. to the payment of junior trust deeds, .j^{`'
<br /> mortgages or other lienholders, and the balance, if any,to the person or persons legally entiticd thereto. ;;'��
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<br /> 17, Assignment of Rents;Appointment of Recetver. As additional security hcreunder, Bonower hereby assigns to t,.. ,-e��•.; �, ��
<br /> �• Lender the rents of the Property,provided that Borrower shall, prior to acceleration under paragraph 16 hereof or ��;,�i_���
<br /> � abandonment of the Propeny,have the right to collect and retain such rents as they become due and payable. •.>,,��
<br /> Upon acceleration under pazagraph 16 hcrcof or abandonment of the Property,Lcnder shall be cntitled to have a receiver „
<br /> appointed by a coun to enter upon,take possession of and tnanage the Property 1nd to collect the rents of the Property
<br /> including those past due. All rents collected by the receiver shall be applied first to payment of the costs of management (
<br /> of the Property and collection of"rents,including,but not limited to rcceivcr's fces,premiums on receiver's bonds and I
<br /> rcaeonable attomcys' fccs, and thcn to thc sums secured by this Dccd of Trust. Thc rcceivcr shall bc liable to account I , _ .
<br /> � only for those rents actually receivcd. �
<br /> �e i„d.,r�ha.wnc_ [f the loan securcd by this Deed of Trust is subject to a law which sets maximum loui charges� �
<br />- and that law is finally incerpreted so that the interest or o�her loan chxrges coueeced or co oe cviiacicu ���c�,�����c�i:,.....••• i - -_•---
<br /> ' the loan excecd permittcd limits,thcn: (1):uiy such loan charges shall be reduccd by thc amount neccssary to reduce I
<br />„ ihe charge ro the permitted limit;and (2) :urv sums already collected from Borrower which execeded permitted limits
<br />_ will bc refundcd to Borrowcr. I
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