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<br /> (� made chall de added eo�he pciruipal cum m�ine ��n �he abme 12. (hc Hormt�ri funhcr agtca thai shoutd this instrumcnt and
<br /> � note, :hall lk secured hereby, and �hal!bear intere�t a� tlie rate �et �hr nuir �e�urr�l hr�rhp na i+e oligibk fbr insurance undcr the Na•
<br /> f�rih in the said n�te, entil paid. tianal lloutiing :�;t ��ithin eight awaths tia�n the date hereof
<br /> (�entten statcmcnt os any aiTieer of the[Xp�r[mcnt oi' Housing
<br /> 7. That the Bor�owcr herebp assigns,transfers and sets o�•cr to and Urhan Dc�rlopmcnt or authoriud agent of tht Secretary of
<br /> the Lender, to be applied toward the payment of the nate anci all Housing and L�rban iX�elop�nent daied subslquent to the eight
<br /> sums secuted hereby in case of a default in the performance of months' time fr�m the date af this irutrumrnt,deelining to insurc
<br /> any of the terms and conditions of this instrument or the said said note and this monaase. bda�dee�ned coocluslve proof of
<br /> note, all the rentc, re��enues and income to be�ierived Prom the such incligibilit�•i, the Lentkr or holder of the note may, at its op-
<br /> said premises during such cime as the indebtedness shaJl remain tion, declare all �ums secured hereby imrtKdiately due and payable.
<br /> unpaid,and the Lender shall ha�e pa���er ta appoint a�y agent or Not:��ithstandinG the forcaoina,this optioa may not be exercised
<br /> agents il ma�• desire for the purpase of repairing said premises and by the Lendcr oi che hoider of tlx aote wheo the ineligibility for
<br /> of renting the same and collecting the rents, revenues and income, insurance under ihe Natianal Housing Act is due�o the Lender's
<br /> and it may pay out of said incomes all expenses of repairing said failure ta remi� the mo»gage insurancr prenunm to the Depart-
<br /> premists and necessary commissions and expenses incurred in rent- ment oi Housine and Urban Deveopment.
<br /> ing and managing the same and of collecting rentals the�efrom;
<br /> the balance remaining. if any, to be applied to«•ard the discharge 13. That if�he Borrowa fails to make aay payments of moaey
<br /> of said indebtedness. ��•hen the �ame become due. or fails to conform to and comply
<br /> �vith any nf ihe �onditioiu or agreements rnntainod in this instru-
<br /> 8. That the Borro��•er�ciU heep the impro�ements no«• existing ment, or the note��hich it secures,ihrn the murr principal sum
<br /> or hereafeer erected on the prapeny, insured as may be �equired and accrucd imere�t shall at oncr beoort�e due and payable.at the
<br /> from time to time b�• the Lender against loss by �re and other eleetion ai'the l.ender.
<br /> hazards, casualcies and wntingencies in such amounts and for such
<br /> periads as may be required by the Lender and �cill pay promptly, l.ender �hall ei�e notice to Borrowa prior to aoceleration
<br /> when due, any premiums an such insurance pro��ision for payment follo��•ing Borro��er's breach of any rnvenant or agrcement in this
<br /> of which has not been made hereinbefore. AD incuranee chall he inctrument (hiit not prior to aeaekration under paragraph 12
<br /> carried in companies appro�•ed by the Lender and the policies and unless applicabte law pcovides ot�-�se).The notiee shall speeify:
<br /> renewals thereof shall be held by the Lender and ha��e attached (a)ehe defaul�; �b)the action required to cvre the defaulr (c)a
<br /> thereto loss payable clauses in fa�•or of and in ferm accepcarle to date, nec le.s chan 30 days from tl�e date the notice is given to �
<br /> the Lender. in ecent of loss Borro��•er wili giti•e immediate notice Borroaer, b� uh�ch tAt detault miut be cured;and (d)that failure
<br /> by mail to the Lender. who may make proof of loss if not made to cure the default on or before[he date specified in the notice
<br /> promptly by Borrower, and each insurance compan�concerned is mati result in acceler.►tion oi the sums securod by this instrument •
<br /> hereb}authorited and directed to make payment for such loss and sale of the Yroperty.The notice sttaU fur[her inform Borrower
<br /> directly to the Lender instead of to the Borrower and the Lender of ihe right to reinstate afta aooekration and the right to bring a � �
<br /> jointiy� and the insurance proceeds, or any part thereof, may be court action co assert the non�iuence of a defanit or anv other I � �:
<br /> applied by the Lender at its option either to the reduction of the clefense of Borro��er to aeodecuion and sak. Ii the dtfanit is not 1���
<br /> indebtednas hereby secured or to the restoration or repair of the cured on or het'ore the date spoeafiod in t6e noda, Lendes at its .
<br /> property damaged. ]n event of foreclosure of this instrument or option ma�• require immodiate payment in fuU of all sums secured .� �
<br /> other transfer of title to the mortgaged property in extinguishment by this instrument without futther demand aad may invoke the
<br /> of ir►e indebteciness aecure� heteby, ali nght, t�tle and interest oi power oi saie and any� rert�s pertnme�by appiicabie iaw. ��
<br /> the Borrower in and to any insurance policies then in force shall Lender shall t+e entitled to oollect all expecues incvrred in pursuing
<br /> pass to the purchaser or grantee. the remedies Pro��ided in this paragraph 13.including, but not
<br /> limited to, reasonabk attomeys' fas u�d oosts of'title evidence. ��
<br /> 9. That as additional and coliateral security for the paymenc of
<br /> the note described,and all sums to become duc under this instru- If the po�ti•er of sate is invoked,Tructae shall record a notice of
<br /> ment,ihe Borro�t er hereby assigns to the Lender all profits, default in eacte county in wlnch any p:ut of the Property is located
<br /> revenues. royalties, rights and bene�ts accruing to the Bonow•er and shall mail ropies of such notioe in the manner prescribed by
<br /> under any and all oil and gas leases on said premises. with the applicable la�ti to Borrov►er and to the other persons precribed by � ,
<br /> right to receive and receipt for the same and apply them to said applicable la�►. :\fter the time requirod by applicable law. Trustee � '
<br /> indebtedness as well beforc as after default in the conditions of shall gi�c public notice of sate to the persons and in the manner �
<br /> ' this instrument.and the Lender may demand, sue for and reco�•er prescribed b> ap�+licabk taw. Tnuta,without demand on Bor-
<br /> any such payments when due and payable, but shall not be re- rower, shaP sell the Property at public auction to the highest bid- .�
<br /> quired so to do. 'i'his assignment is to termina[e and become null der at thr time and plaoe and under the terms dcsignated in the .•'��:
<br /> and void upon retease of this instrument. notice of sale in one or morc paroets and in any order Trustee .
<br /> determines. Trustee may postpone sale of aU or any parcel of the
<br /> 10. That the Borrower will keep the buildings upon said premises Propeny b�• public announc+nnent at the time and place of any
<br /> in good repair, and neither commit nor permit �vaste upon said preciously scheduled sak. Lender or iu designee may purchase the
<br /> land. nor suffer the said premues to be used for any unlawful Propertp at an� ,ak.
<br /> purpose.
<br /> Upon receipt of paymeat of the prioe bid,Tmstce shall deliver
<br /> 11. That if the premises, or any part thereaf, be condemned to the purchacer Tn�stee's detd eonveyiag the Property. The
<br /> undet the poteer of eminent dor.sain, or arquised far a puhlie use, recitals in she TrusEee's dced siial)Ue ptima facie evidence vf the
<br /> the damages awasded, the proceeds for the taking of. or the:on- truth ot th��:acrments made thercin.Truucr shall apply the pro-
<br /> sideration for such acquisition.to the extent of the full amount of ceeds of the sale in the follow�ieg order: (a)to all expenses of the
<br /> indebtednus upon this instrument and the note which it is gie•en to sale, inctuding, but not timitad to,Tn�stce's fees as permitted by
<br /> secure remaining unpaid,are hereby assigned by the Borrower to applicable Iaw• and i�onable attomeys' fees; (b)to atl sums
<br /> the Lender, and shall be paid fonhwith to said Lender to be ap- secured hy this Security lastrument;and (c)any e�ccess to the per-
<br /> plied by the latter on account of the next maturing installrnents of son or pcnuns �egalty entitkd to it.
<br /> such indet+tedness.
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