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<br /> made shall be added �o the principal sum oµ•ing on �he abovc 12. The Borrower funher agrees that should this inst�ument and
<br /> � note, shall ir: secured hcreby. and �hall bear interest at the tate set the notc securcd heteby not be eligibte for insuraace under the Na•
<br /> Porth in the said aote. until paid. tioaal Housing Act withia cight months from the dstte hereof
<br /> (writ[en statement oP any oificer of the Depanment of Housing
<br />-- T. TOzai ci►r ITJI�U\�CI I1ClCLy tL1Sl�O5�iransie�s and seis over co and Urban Deveiopment or auchorized agent ot the secretary ot
<br /> thc Lender. ta be applied [oward the payment of the nate and all Housing and Urban Development dated subsequent to the eight
<br /> sums secured hereby i�case of a default in the peri'ormance oP months' titne Prom the date of thls i�strument. declining to iasure
<br /> any of the terms and condi�ions of this instrument or the said said�ote and this mortgage, being deemed conclusive proof of
<br /> note, all the rents, revenues and income to be derived from the such ineligibility), the l.ender or holder of the note may, at its op-
<br /> said premises during such time as the indebtedness shall remain tion, declare all sums secured hereby immediately dut and payable.
<br /> unpaid, and thc Lender shall have po�ver to appoint any agent or No���•ithstanding the f'oregoing, this option may not ba exercised
<br /> agents it may daire for the purpose of repairing said premises and by the Lender or the holder of the ttote when the inellgibility for
<br /> of renting the same and collecting the rents, revenues and incame, insurance under the National Housi�g Act is due to the Lender's
<br /> and it may pay out of said incames all erpenses of repairing said failure co remit the mongage insu�a�ce premium to the Depan-
<br /> premises and necessary commissions and expenses incurred in rent• me�t of Housing and Utban Deveopment.
<br /> ing and managing the same and of collecting rentals therefrom;
<br /> the balance rcmaining, iP any, ta be applied tauard the discharge 13'That if the Borrower fails to make any payments of money
<br /> of said indebtedness. , ��•hen the same become due. or fails to conform to and comply
<br /> with any of ehe conditions or agrerments contained in this instru-
<br /> 8. That the Borro��•er will keep the improvements no�v existing ment, or the note which it secures.then the entire principal snm
<br /> or hereafter erected on the property, insured as may be required and accrued interest shall at once become due and payable, at the
<br /> from time to time by the Lender agains[ loss by fire and other election oP the Lender.
<br /> hazards. casualties and contingencies in such amounts and for such
<br /> periods as may be required by the Lender and wiU pay promptly, Lender shal�give notice to Borrower prior to acceleration
<br /> «•hen due. any premiums on such insurance provision for payment followin� Borrower's breaeh of any covenant or agreement in this
<br /> of which has not been made hereinbefore. Ali insurance shall be instrument (but not prior to acceteration under paragraph 1Z
<br /> rarried in companies appro�•ed by the Lender and the policies and unless applicable !aw provides othemise). The notice shall specify:
<br /> rene�vals thereof shall be held by the Lender and hace attached (a) the default; (b)the action requ'ved to cure the default;(c)a
<br /> thereto loss payable clauses in favor of and in form acceptable to date, not las than 30 days from the date the notiee is given to
<br /> the Lender. In evem of loss Borrower �cill gi�•e immediate notice Borrower. by which the default must be cured; and(d)that 1'ailure
<br /> by mail to the Lender. who may make proof of loss if not made to cure the default on or before the date specified in tht notice
<br /> promptly by Borro��•er, and each insurance company concerned is may result in acceleration of che sums secured by this insttument
<br /> hereby authorized and directed to make payment for such loss and sate of the Propeny. The notice shall further inform Horrower �
<br /> directly to[he Lender instead of to the Borro��•er and the Lender of the right to reinstate after acceleration and the right to bring a
<br /> jointly. and the insurance proceeds, or any part thereof, may be court action to assert the non-existence of a default or�.�y other �
<br /> applied by the Lender at its option either to the reduccion of the defense of Borrower to acceleration and sale. If the default is not
<br /> indeotecfness hereb�•secured or to the restoration or repair of the cured on or before the date specified in the notice. Lender at its ;, ,�
<br /> property damaged. In ecent of foreclosure of this instrument or option may require immediate payment in full of all sums secured • -.
<br /> other transfer of title to the mortgaged property in extinguishment by this instrument�vithout funher demand and may invoke the
<br /> : of the indebtedness secured hereby. all right, title and interest of po��•er of sale and any other remedies permitted b;applicabte law. . -
<br /> the BorroH•er in and to any insurance policies then in force shall Lender shall be entitltd to collect all expenses incurred in pursuing -
<br /> pass to the purchaser or grantee, the remedies provided in this paragraph 13,including,but �ot . --
<br /> limiced to, reasonable attorneys' fees and costs of title evidence. �
<br /> 4. That as addicional and collateral security for the paymenc of
<br /> the note described,and all sums to become due under this instru- If the power of sale is invoked, Trustee sha11 record a notice of t —
<br /> , ment,the Bonnwer 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 copia of such notice in the manner prescribed by
<br /> , under any and all oil and gas leases on said premises, with the applicable law to Borrower and to the other persons precribed by
<br /> right to receive and receipt for the same and apply them to said applicable law. After the time required by applicable law.Trustee f
<br /> indebtedness as �rell before as after default in the conditions of shall give public notice of sale to the persons and in the manner � ,
<br /> rhis instrument. and the Lender may demand, sue for and recover prescribed by applicable law. Trustee, without demand on Bor- i -
<br /> any such payments when due and payable. but shall not be re- rower, shall sell the Property at public aurtion to the highest bid-
<br /> quired so to do.This assignment is to terminate and become null der at the time and place and under the terms designated in the �
<br /> and void upon release of this instrumtnt. notice of sale in one or more pazceis and in any order Trusta .,:�
<br /> determines. Trustee may postpone sale of all or any parcel of the ` �•
<br /> 10. That the Borro�ver�vip keep the buildings upon said premises Propercy by public annonncement at the time and place of any � .
<br /> in gaod repair, and neither eommit nor permit waste upon said previously scheduled sale. Lender or its daignee may purchase the
<br /> land, nor suffer the said premises to be used for any unlawful Property at any sa1e.
<br /> purpose.
<br /> Upon receipt of payment of the price bid, Trustee shall deliver
<br /> 11. 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 public use, recitals in the Tnutee's deed sha]1 be prima facie evidence of the
<br /> ehe damabes awarded, the proceeds for the taking of, or the con- truth of the statements made therein. Trustee shali apply the pro-
<br /> sidcration 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 /> indebtedness upon this instrument and the note which it is given to sale, including, but not limited to, Trustee's fees as permitted by
<br /> secure remaining unpaid,are hereby assigned by the Bonower to applicable law and reasonable attorneys' fees: (b)to all sums
<br /> the Lender,and shall be paid forthwith to said Lender to be ap- secured by this Security Instrument;and (c)any excess to the per-
<br /> plied by the latter on account of the next maturing installments of son or persons Iegally entitled to it.
<br /> such indebtedness.
<br /> - Page 3 of 5 HU�-92143DT ,
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