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<br /> ��"°' .�0017�
<br /> madc �hail br addcd tu thc prin:ipa{ .uin�,��m;; on th: abnee t?. i hr Norru���r lurthrr .i�:«r. that ,l�uuld thi� u�+trumcnt and
<br /> - ----- � uoir, �halt b: cc:urc�c! hereh}•, anc� �h�l1 M:�r in�rrect a[ the rate�et the note�r�urrd hercb> ���•t ne �i��►ni� fur intiurance unde�th. Na-
<br /> forih in Ihe�aid note. until paid. tional Housing Act ��ithin eight tnunths from the date hrirut
<br /> �«riuen�ta�enieni af any ufficer o1 the pcpartm�nt ol Hou�ing
<br /> � 7. That Ihe Hor�u��en c�rri.} ��..igm. uantifers and set�o�cr�o an�Urban l�e�elapment or authnrited asent oF the Secretarc of
<br /> t{�e l.ender,ta tk applicd to��ard tlie pay�ment of the note and all Housiag and Urban De�•elopment dated subsaquertt to the eight
<br /> - ` sums securcJ Lr�eby in:as:af a �efault in ch: p:.rformanc: of m�nths' time from [he dflte�` ihic instrument, declining to insu�e
<br />� any of the terms and c��nditions oi'this instrumem or the said said note and this mongage,being deemed conclusi�•e proof of
<br /> note, aU the rents, re�•enues and incame ta be derived i'rom the �uch ineligibility). the Lender or holder of the note may, at its op-
<br /> said premises during such time as the indebtedness shall remain tion,declare all �ums secured herebr immediately due and pa�•ablz.
<br /> unpaid, a�d thr Lender shall ha�•e pa�vcr to appoint any agent or Nanvithstanding the foregoing, this option may not be exercised
<br /> agents it may dcsire for the purpase oi'rcpairing said premises and by the Lender or the holder af �he note�ti•hen the ineligibility for
<br /> of renting the same and collecting the rents, re�•enues and income, insurance unde� the National Housing Act is due to the Lender's
<br /> and it may pay uut of said incomes al! expenses of'repairing said failure to remit ihe mongage insurance premium to the Depart-
<br /> � premises and necessary cammi�.cions and e�penses incurred in rent- ment ot'Hou.ing and Urban De�•eopment.
<br /> ing and managing the same and of collecting rentals the�efram;
<br /> the balance remaining, if am•, to be applied to+�•ard the discharge 13. That if the Borro��•er fails to make any payments of monep
<br /> of'said indebtedne�s. �vhen the same become due,or fails to conform to and comply
<br /> �vith an�• of the conditions or agreements conlained in this instru-
<br /> 8. That the Borrower��ill keep the impro��emeni� no���rxisting ment, or the note�chich it secures, then the entire principal sum
<br /> or hereafter erecled on the property, insured as may be required and accrued interest shall at once become due and payable, at the
<br /> fram time to time by the Lender against loss by fire and other election of the Lender.
<br /> hazards. casualties and contingencies in such amounts and for such
<br /> periods as may be required by the Lender and ��ill pay promptly, Lender shall si�•e notice to Borro��•er prior to acceleration
<br /> when due,an}� premiums on such insurance provision 1'or payment follow ing Borro��•er's breach o1 any co��enant or agreement in this
<br /> of which has not been made hereinbefore. All insurance shall be instrument Ibut not prior to aeceleration under paragraph 12
<br /> carried in companies appro�•ed by the Lender and the policies and unless applicable la��• provides other���ise). The notice shall specify:
<br /> renewals thereof'shall be held by the Lender and have attached (a)the default; (b) the action required to cure the default; (c) a
<br /> thereto loss payable clauses in favor of and in form acceptable ta date, not less thun 30 days from the date the notice is gi�•en to
<br /> the Lender. In event of loss Botrower will gi�•e immediate notice Borro��er, b)• �vhich the default must be cured; and (d1 that failure
<br /> by mail to the Lender, who may make proof of loss if not made to cure the default on or before the date specitied in the notice
<br /> promptly by Borra�rer, and cach incurance company concerned is may result in acceleration of the sums secured by this instrument
<br /> hereby authorized and directed to make pa�ment f'or such loss and sale of the Preperty. The nutice�hall funher inform Bflrro���er
<br /> directly to the Lender instead of to the Borro���er and the Lende� of the right to reinstate aPter acceleration and the right to bring a
<br /> jointly, and the insurance proceeds, or any part thereof, may be coun action to assert the non-existence of a default or any other
<br /> applied by the Lender at its option either to the reduction of the defense of Borroa•er to acceleration and sale. lf the default is not
<br /> indebtedness hereby secured or to the restoration or repair of the cured un ar before the date specified in the notice, Lender at its ,
<br /> Fr�.wr�y�iam�oPC�, In event of foreclosure of this insttument or option may rcquire immediate paymcnt in full of al) sums secured '
<br /> oeher transfer of title to the mortgaged property in extinguishment by this instrument without further demanct anci may imoke tne
<br /> of the indebtedneu secured hereby, all rigfit, title and interest of power of sale and any other remedies permitted by applicable la�r•.
<br /> the Sorroxer in and to any insurance policies then in farce shall Lender shall be entitled to collect all expenses incurred in pursuing - .
<br /> pass to the purchaser or grantee. the remedies provided in this paragraph 13,induding,but not
<br /> limited to, reasonable at�orneys' fees and costs of title evidence. _
<br /> 9. That as additional and collateral secu�ity for the payment of _ -
<br /> the note described,and all sums to become due under this instru- !f the pow•er of sale is invoked, Trustee shall record a notice of �; _
<br /> ment,the Bonower hereby assigns to the Lender all profits, default in each county in which any part of the Propeny is located ;
<br /> revenues. royalties,rights and benefits accruing to the Borrower and shall mail copies of such notice in the manner prescribed by '—
<br /> under any and all oil and gas leases on said premises, with the applizable law to Borrower and to the other persons precribed by , j,
<br /> right to receive and receipt for the same and apply them to said applicable law. After the time required by applicable la�v,Trustee
<br /> indebtednas as w•ell before as after default in the conditions of shall give public notice of'sale to the persons and in the manner ;
<br /> this instrument,and the Lender may demand, sue for and recovcr prescribed by applicable la�v. Trustee, without demand on Bor- � �`
<br /> any such payments when due and payable, but shall not be re- rower,shall sell the Property at public auction to the highest bid- ��
<br /> quired so to do. This assignment is to tcrminate and become null der at the time and place and under the terms designated in the -
<br /> and void upon releue of this instrument. notice of sale in one or more parcels and in any order Trustee
<br /> determines. Trustee may postpone sale of all or any parcel of the
<br /> 10. Tt�at the Borrower will keep the buildings upon said premises Property by public announcement at the time and place of any '
<br /> in good repair, and neither commit nor permit waste upon said previously scheduled sale. Lender or its designee may purchase the
<br /> land. nor suffer the said premises to be used for any unlawful Property at any sale.
<br /> purpose.
<br /> Upon receipt of payment of the price bid. Trustee shall deliver
<br /> !1. That if the premises, or any part thereof, be condemned to the purchaser Trustee's deed conveying the Property. The
<br /> under the power of eminent domain. or acquired for a publie use, recitals in the Trustee's deed shall be prima facie evidence of the
<br /> the damages awarded,the proceeds for the taking of, or the con- truth of the stateroents made therein. Trustee shall apply the pro-
<br /> sideration for such acquisition, to the extent of the full amount of ceeds of the sale in the following order: (a)to all expenses of the
<br /> indebteciness upon this instrumrnt and the note which it is given to salc, inciuding, but not limited to,Trustee's feec aa permitted by
<br /> secure remaining unpaid,are hereby assigned by the Borrower to applicable law and reasonable attorneys' fees: (b)to all sums
<br /> the l.�nder, and shall be paid forthwith to said Lender to be ap- secured by this Security Instrument; and (c)any exress :o the per-
<br /> plied by the latter on account of the next maturing installments of son or persons legally entitled to it.
<br /> such indebtedness.
<br /> Page 3 of 5 • HUD-92143DT _ ___ _ _
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