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<br /> .. . (Page 4 of 5) • .
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<br /> ` . �* ownei of the property. )a transFer into an inter vivos trust in nhich the Botrowec is and remains a bene�narY�►d
<br /> ' " which does not relate to a transfer of nP,hts of accupancp in the property,or (i�any other transfer or disposition .;�,;"
<br /> ` ' ; desctibed in regulations prescribed evaluaete the ttansfereeLoan Bank B��ere being made oUthe transferce.1Borrower '`.;�'�4_� .. .
<br /> ; � .� .� information required by Lender t ' •`` �� �.�
<br /> 1 will continue to be obligated under the Note and this De�d of Trust ut►less I.ec►der releases Bonower in writing. ;` :
<br /> ' < If I.ender do�s not agree to such sale or transfer.Lender may declare all of the sums secured bp this Deed of'Trust to . '.'�,,
<br /> ' , � � be imm e d i ate lq due an d p a y a b l e. I f Lender esercises such option to accelerate, Lender shall mail Botrowet uotice of -
<br /> � �� � .
<br /> , _ _ � acceleration in accordance cvith paragraph 12 h$reof.Such notice shall provide a period of not le�t h a n 3 0 d ays from t h e - r �
<br /> ____ _-��,.;���` ; date the notice is mailed or delivered within which Borrawer may pay the sums declared due. If HorrGwer fails to pay ---' — _�_
<br /> , � • ` such sums prior to the expiration of such period 1-��may, Nithout further notice or demand an Borcower, invoke ,�`__,._`
<br /> ` ': any remedies permitted bY Parag�'aPh 17 hereaf. • .. .. ,
<br /> ' ' ! 1�ON-UMFOR�ti3 COVENAN'TS.Borm�'er and Lendec further covenant and agree as follow� :. ��
<br /> ' .''' � 17, Acce teration; Reme dies. E x c e p t a s p t o v i d e d i n p a r a g r a ph 16 hereof� or as otherwise reqoired by la�v. v 4, `',.
<br /> ' � �,` � upon Bonower's breach of any covenant or agreement of Bonower in this Deed of Trost, iac lu d iag �� � ,�
<br /> ; . ` .,; .� Borroiver's failnre to pay, by the end of ten(10)calendar aaYs after the date they are due, eny sums secuhri� ,;� �',.f '.i'.--�
<br /> � by this Deed of Trust.I.ender prior to acceteration shaU give notice to Bonower as provided in paragrap .z,
<br /> � hereof specifqing. (1)the breach; (2) the action required to cure such breacL: (3)a date,not less than 20 days ' �_ ;_
<br /> - -' ' from the date the notice is mailed to Borrower. by wbich such breach must be cured; and (4)that failure to � .V;;�::r`
<br /> ' cure such breach on or before the date specified in the aotice may result in acceleration of the sums secured �;1_`
<br /> ���•� by this Deed of Trust and sale of the PropeRy. The notice shall farther inform Bonower of the right to
<br /> . �= � seinstate after acceleration aad the right to bring court action to assert the aonesisteace of a default or any `<; r`��M1_'-
<br /> � � . � ather defense of Borrower to acceleration and sale. If the breach is aot cured on or before the date specified _
<br /> , . in the aotice. I.ender, at Lender's optiori, may declare all of the sams secured by this Deed of Trust to be -��-
<br /> � immediately d�se and payabte without further demand aad may invoke the power of sale and any other µ _ '.::;:�
<br /> . , remedies permitted bq applicable law. Lender shall be entitled to collect all casts and espenses incuned ia ---,; � �r�
<br /> � � ' ' the remedics rovided in this paragraph 17 to the estent permitted by applicabte law. ( .I��-•
<br /> . pursuing P '!�
<br /> If Lender invokes the power of sale. Lender or Trustee shall mail copies of a notice of sale in the maanet ° :��:u•,;::
<br /> � . � r�'� prescribed by applicable laN to Barrower aad to the other persons prescribed by applicable law.Trostee shall Z,-��
<br /> " ' . e b ublic advertisement for the time and in the mauner prescsibed by applicable taw�. �., -`;i_
<br /> � • give notice of sal y p •
<br /> '�` 'Trustee, �ithout deffiand on Honower.shall sell t�e Property at public auctian to the high�st bidder for cas : .
<br /> . • `� at the time and place and under the terms designated iu the notice of sale in one or more parcels aad in such :�: {i���t;
<br /> . J=+6(i.-,Li::
<br /> , � �;K..' f order as Trustee may determiae. Ttustee nfay postpone sale of all or any parcel oi the Property to at►y later ,�,�,_��
<br /> •..:ra�
<br /> � � time on the same date by public aanauncemeat at the time aad place of any pseviousiy scheduled sate. ,T,��,,.
<br /> ' � � Lender as Lender's designee nnay purchase the Property at any sale. .
<br /> .. ..���
<br /> . �' 1c.
<br /> Trustee shall deliver to the purchaser Trustee's deed conveyiag the Property so sold�ithout any covenant �' ����'�'
<br /> � or �vsrranty. expressed os implied. The recitals in the Trustee's deed shall 6e prima facie evidea�ce of the : .•���:
<br /> �truth o4 the staterenents made therein.Trastee shall apply the proceeds of the sale in the foflowing order: (a) :-,,�-..::
<br /> ' to oll reasonable costs and expenses of the sale, incloding. but aot limited to. reasanabtc Trustee's �ees and :�_�y,
<br /> attorneys' fees and costs of title evidence; (b)to all sums secured by this Deed af Tsust;and(c)4he excess,if .,. _„�
<br /> :�':17'.,:.-T.-._.
<br /> � any.to the person or persons legally entitled thereto. -•-;•�-,-
<br /> `;�_-
<br /> �,. I8.Bono�ver's Ri�ht to Reinstate. Notwithstanding Lender's acceleration of the sums secured by this Deed of :.�, K
<br /> Trust due to Borrower s breach, Borrower shall have the right to have any proceedings begun by Lender w enfocce this �.�f�
<br /> . � Deed ot Trust discontinued at any time prior to the earlier to accur of(i)the fiftb day before the sale of the Property , .��.-:
<br /> ' � . . pursuant to the power of sale contained in this Deed of Trust or(ii)entry of a judgment enforcing this Deed of Tsvst if: : 1-��,;
<br />_ ' (a)Borrower pays L.ender aU suma�vhich woutd be then due under this Deed of Trust and the Note had no acceleration � , �
<br /> occuned; (b) Borrower cures all breaches of any othet covenants or agreements of Bonower caatained in this Deed of �,��__
<br /> � Trusi; (c) Borrower pays all reasonable expenses incurred by Lender and Trustee in etifotcing the covenants and ; :
<br /> � agreements of Borrower contained in this Deed of Trugt,and in enforcing Lender's and Tn�stee's remediea��P�le lscv' � �
<br /> ' in paragraph l7 hereaf,including,but not limited to,reasonable atwrneys'fees to the extent permitted by app' . ��',_
<br /> and (d) Borrower takes such action as Lende�' may reasanably require to assure that the lien of this Deed of Trust. -:
<br /> ' l.ender's interest in the Property and Borcower's obligation to pay the sums secured by this Deed of Trust shall coatinue � : ,.
<br />-�,�`. . � , unimpaired. Upon such payment and cute by Borsower. this Deed of Trust and the oblig,ations secused hereby shall ,
<br /> � � � � remain in full force and effect as if ao acceleration had occurred. . , .
<br /> � • ! 1`�.Assignment oi Rents: Appoiptment of Receiver:•Lender in Possession. As additional security hereunder.
<br /> � � . i Borrower hereby assigns to I.cnder the rents of the Pcoperty, provided that Borrower shall, prior to acceleration under .
<br /> � . • � paragraph t7 hereof or abandonment of the 1'roperty,have the right to collect and retain such rents as they become due �. ,.
<br /> � � • and payable. -_-- �
<br /> ' • � Upon acceleratian under paragraphy 17 hereof or abandonment of the Yroperty. I.ender. in person, bY agent or by , ,_ __ _
<br /> ' . �i judicially appointed receiver,sha11 be entitled to enter upon,take possession of and manage the Property and to collect '
<br /> • the rents of the Yroperty including those past due. Ai1 rents cc�llected by Lender or the receiver shall be applied first to
<br /> • • � payment ot the costs of management of the Yroperty and collection of rents, including, but not limited to.receiver's
<br /> ' Pees,premiums on receiver's bonds and reasonable attorneys fees,and then to the sums secured by this Deed of'frust.
<br /> �
<br /> I Lender and the receiver shall be liable to account only{or those rents actually received.
<br /> � 1 2U.Release. lipon payment of all sums secured by this lleed of Trust,and.if this lleed of Trust secures a Revolving
<br /> ' � l.oan Ag,reement, Horro�ver requests l.ender to release this Deed�f Trust,I.ender shall cause this Deed of 'I'rust to be
<br /> � � i released without charge to I3orrnwer. Borr�wer shall pay all costs of recordation,if any.
<br /> i 21.Substitute "Trustee. l.ender. at lxnder's option. may from time to time appaint a successor trustee to any
<br /> • � • 'I�rustee appointed hereunder by an instrument recorded in the county in �vhich this 17eed of'1'rust is re�enrded.Without '
<br /> � • � ' conveyance uf the 1'roperty, the successur trustee Shall succeed te� all the title, pawer and duties conferred up[m the
<br /> "I'tustee herein and by applicable la�v. , .
<br /> ". � 22. Request tar �;otices. He�rro�cer reque.sts that ec�pies c�f the notice e�f default and nutice of sale be sent tn ,
<br /> Ht�rrotcer's address which is the Pr��pertp �ddress.
<br /> � � � 1 06•30•94 Deed o1 t�ust NE OHiGiNAI II���III��'II�IIIIII��I�{11'!�Il�l�lllll�il��lll��l�lIII7IUI�fII{I��IfIU11IlY1��W�IIIIIII�IUI NE0079Y4 �` .
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