|
LOAN NO.:R9802254250-LLW 98_ �G2;534
<br /> 9. Condemnatton.The proceeds of any award or claim for damages, direct or consequential, in connection with
<br /> any condemnadon or other taking of the Property, or part thereof, or for comreyance in lieu of condemnation, are
<br /> hereby assigned and shall be paid W I.ender, subject to the terms of any mortgage, deed of trust or other security
<br /> agreement with a lien wlrich has priority wer this Dced of Trust.
<br /> 10. Borrower Not Released; Forbearance By I.�der Not a Waiv�. Batension of the time for payment or
<br /> malification of amortization of the s�ms secured by this Dced of Trust granted bq I.ender to any successor in
<br /> interest of Bonower shall not operate to release, in an�r manner, the liability of the original Borrower and
<br /> Borrower's successors in interest. Lender shall n�ot be requued to commence procadings against such successor or
<br /> refuse to e�ctend time for payment ar otherwise modify amortizadon of the sams secured by this Deed of Tn�st by
<br /> reason of any demand made by the original Borrower and Borrower's successors in interest. Any forbearance by
<br /> I.encier in eaercising anq right or remedy hereunder, or otherwise afforded by applicable law, shall not be a waiver
<br /> of or preclnde the exercise of any such right or remedy.
<br /> 11. Successors and Assigns Bound; Joint and Several I�abtl�ty; Co-si�ners. The covenants and agrcements
<br /> herein contained shall bind, and the rights hereunder shall inure to, the respoct'rve successors a�d assigns of I.ender
<br /> and Borrower, subject to the provisions of paragraph 16 hereof. All cavenants and agreements of Borrower shall be
<br /> joint and several. Any Borrower who co-signs this Deed of Trust, but does not execute the Note, (a) is co-signing
<br /> this Dced of Trust onlq to grant and comey that Borrower's interest in the Property to Tinstee under the terms of this
<br /> Deed of Tmst, (b) is not personallq liable on the Note or under this Deed of Tn�st, and(c) agrees that Lender and
<br /> any o�er Bonower herean�r may a�e co�c�,modifq, forbear, or mak�e any other accommodadons with regard
<br /> to the teims of this Deed of Trost or the Note, withont tl�at Borrower's consent and without releasing that Borrower
<br /> or modifying this Deed of Trnst as to that Borrower's interest in the Property.
<br /> 12.Notice.Except for any nodce required under applicable law to be given in another manner, (a)any nodce to
<br /> Borrower provided for in this Deed of Trust shall be given by delivering it or by mailing such nodce by certified mail
<br /> addressed to Borrower at the Property Addnss or at such other address as Borrower may designate by nodce W
<br /> L.ender as provided herein, and(b) any notice to Lender shall be given by certified mail to Lender's address stated
<br /> herein or to such other address as Lender may designate by notice to Borrower as provided herein Any notice
<br /> provided for in this Deed of Trust sball be deemed W have been given to Borrower or Lender when given in the �
<br /> manner designated herein.
<br /> 13. Goveinin�Law; Sev�ability.The state and local laws applicable to this Deed of Trust shall be the laws of
<br /> the jurisdiction in which the Property is located. The foregoing sentence shall not limit the applicability of federal
<br /> I law to this Deed of Trust. In the event that any provision or clause of this Deed of Trust or the Note conflicts with
<br /> a licable law such conflict sball not affect other rovisions of this D
<br /> , eed of Trust or the Note which can i n
<br /> effect without the conflicting provision, a�d to this end the provisions of this Deed of Trust and the Note are de clared
<br /> to be severable. As used herein, «costs," •`expenses„ and •`attorneys' fees" include all sums to the extent not
<br /> prohibited by applicable law or limited herein.
<br /> 14. Borrower's Copy. Bonower shall be furnished a conformed copy of the Note and of this Deed of Trnst at
<br /> the time of execution or after recordation hereof.
<br /> 15. Rehabilitation Loan Agreemeirt. Borrower s1�a11 fulfill all of Borrower's obligadons under any home
<br /> rehabilitation, improvement, repair, or other loan agreement wluch Borrower enters into with L,ender. L.ender, at
<br /> Lender's opdon, may require Borrower to eaecute and deliver to Lender, in a form acceptable to Lender, an
<br /> assignment of any rights, claims or defenses which Bonower may have against parties who supply labor,materials or
<br /> services in connection with improvements made to the Property.
<br /> 16. Traasf�of the Propezty or a B�e,fidal Interest in Borrower. If all or any part of the Property or any
<br /> interest in it is sold or transferned(or if a beneficial interest in Borrower is sold or transferred and Borrower is not a
<br /> natural person)without Lender's prior written consent, Lender may, at its option, require immediate payment in full
<br /> of all sums secured by this Deed of Trust. However, this opdon sball not be exercised by Lender if exercise is
<br /> prohibited by federal law as of the date of this Deed of Trust.
<br /> If Lender exercises this opdon, Lender shall give Borrower notice of acceleration. The notice shall provide a
<br /> period of not less thw 30 days from the date the nodce is delivered or mailed within which Borrower must paq all
<br /> sums secured by this Deed of Trust. If Borrower fails to pay these sums prior to the expiradon of this period, I.ender
<br /> may invoke any remedies permitted by this Deed of Trust without further nodce or demand on Borrower.
<br /> ma
<br /> NON-UrTIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
<br /> 17. Accderation; Remedies. Ezcept as provtded in paragraph 16 hereof, upon Borrow�'s breach of any
<br /> covenant or agreemeat of Borrower in this Dced of Tnut, including Borrower's failure to pay, by the end of
<br /> 10 calendar days aftez�they are due, aay smns secured by this Deed of Trust, I.ender pdor to acceleratlon shall
<br /> �ive notice to Borrow�as provlded in paragraph 12 hereof specifying: (1)the breach; (2)the action required to
<br /> cure such breach; (3) a date, not less t6an 20 days from the date the notice Ls mailed to Borrower, by which
<br /> such breach must be cured; and (4)tLat fatlare to cure such breach on or b�ore the date speclt�ed in the notice
<br /> ��-76�NE)�aeoz� /� Form 3828
<br /> P�4 of 9
<br /> • i�
<br /> �
<br />
|