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<br /> � made shaU be added co the principal sum o�cing on trta::lva{e� t2. The Borro�cer funher agrees Ihat s�oWi th�a c,�z;s:nent and
<br /> — note,shalE be secureu hereby,a��,shali bear interes���;;��,�e set t�e note secured here6y aca LY e�gible for i:,rc_ra;.�e�der the Na-
<br /> forth in the said note,unnl pz�d,.:. ..... • ' � 4;;:,^al Housing A��;idz;;,.��,�';;mqae8s frpL�tre date liereof
<br /> (A�ritten stateate�t c��y ofrioer of trze De�,-cment of Housing
<br /> . '. Tfi;t¢he Barroticer heretry iry��3.:;�;,;irs and sets e•��to and Urban Deve?cpmen[or a�thorized ag¢c.of the Secretarg of
<br /> �' . t�s=.F�c3er. to be applied ta�vard`•t�e pa}Tttent of the note a.�d all Housing and Urban Decetapraeac Qae�:d sc�bstq�nc to ehe eight
<br /> sums�nired hereby in case of a default in the performan;e of manths' time from the date of t�is icstrumen3; declining to insure
<br /> --��� any of the temzs and condicions of this instrument or the said said note artd this rnortgage, �eirg deemed�ronc:usive�uaof of '
<br /> _ note.alt the rents,revennes and income to be deri�•ed from the s¢ch ineligibility),the Lender or holder nf the nnk..p,at its op-
<br /> said premises during such time as the indebcedness shall remain tion.declare ali sums secuced hereby immediately due ar�d papable.
<br /> unpaid. and the Lender shall have power[0 3ppoint any agent or �oncithstanding the foregoing.this option may e�ot be exerciced
<br /> agents it may desire t'Qr the purpose of repairing said premises and by�the LenQer or the ho!der of thr aote tich�_the ineligibilicy fo�
<br /> of renung the sarne and colleccing the rents, reti•enues and incomc, insurance under the Nati6nal Housing Act i.dac co the Lender's
<br /> and it may pay out of said incomes all exFcnus of repairing saict failure�o remit the mortgage ins�rance prcmium to the Depan-
<br /> premises and necesssry cammissions and ekpenses inturred in rent- ►nent of Housin�and Ur�an Deveopment.
<br /> ing and managing[he same a.Rd c�f collecting rPntals therefrom:
<br /> [he balance rcmaioing, if anp, to be applied touard the discharge t3. That if cne Burrower f�its to make any payments of money
<br /> of said indebtedncss. «hen the same fsecame dur,cr fails to conform to and comply
<br /> • ai[h any of the canditicns cr agreements contained in this instrte-
<br /> 8. That thc Bano�ver wiU keep the impr�svemcnts now existing ment,or thc rtate which ir s;cures,then thc entire principal sum
<br /> or hereafter erected on tbe propeny, insured as may be required and accraeQ inrerest shaU a[oace 6ecome due and payable, at tht
<br /> — from time to time by [he Lendcr a�ainst loss by 6re and other election of the L,ender.
<br /> • hazards,casualties and cantingencies in such amounts and far such
<br /> periods as may bc required by the Lender and will pay promptly, Lender shall bi�e notice ta T?orrouer prior to accelera:inn
<br /> when due,any premiums on suc�ensueance provision for payment fotlewiag Borrou•ePs brea.L•.��f:any covenant ar agrees�;,t in this
<br /> of which has npt he:o made��r:�.;lefore. �e11 insurance shall be :Z.r-ument(tu% not pne-°.:�.;eleration under paragr��'z 12
<br /> - t:arried in companies appra�c�.�,•r'�e Lenc+er and the poti�-iss and unless applic�L*!:�:a:.� ,�c.,•ijes othenvise). The natice shaU specify:
<br /> � i rzrte�vals thereaf shaU be he[�.Er ,��Lender and have acc�.:;.g1 (a)the defautc.;c=�,::.����,;:;„ required [o cure the defauit;(c)a
<br /> tfiereto toss payable clauses in P�:,��r of and in form acceptable to date.not less;G:�-3�,:az:=.f*��the date the notice is givzn to
<br /> the I.ender. In event of loss Bcr�wer a•il!�;:•�immediate notice Borrower, by u•hic:::(.e�riak:T musc be cured; and(d)that failure
<br /> by mail to the Lender, who ma� s7ake pre���.i Ioss if not made ro cure the default o:?v-�`;:��che date speciRed in the no:ice '
<br /> promptiy by Borrower.and�e;;�:asurance:,;:-;,any cor.�:emed is may resul[in accelerz:ia= of Tre sums secured by chis ins[rument
<br /> hereb}�auehorirr.d and direr ei:�:nake pa;:r:.c for s�c::iz;s and sale of the Frc;�ertti. 'F�: notice shal! further inform Borrower " "
<br /> directly to[he l.ender ons��i �f:o the Bo��.��r and t�c: Eender oi ihe right to re::.sta�: �.f:�:acceleration and the�ight to bring a � ;
<br /> jointly, and the insurare:r�cee�s, or any �;a.�thereof,may be covrt action to assert th� r,�;e.exisLence of a default ur aray other
<br /> applie d by t he Len 3e:.�.;t:s oprion ei[her c� ���:%reduction of the d•:�'er;e of Borrower to�:c�:e-ation and sale. tf[hc defaul;is not
<br /> indebtedness hereby s=cured or to the re�c:+��s+�n or repair of [he cured on or before th:da•c�specified in the notice.Lender at its
<br /> property damaged. In event of ec.-=claare cr:this instrument or option may requi:�'m;;;�3:ate payment in fup of all sums secured °
<br /> • othcr transfer oP tidc to the mo;�gaged praperty in extinguishment by this instrum�r.t a;.ri3u: fu»her demand and may invoke[he =
<br /> of the indebtedness secured hereh3•. all right. title and interest of po�ver of salc azi�any azh:r rcmedies permitted by applicable latv. •
<br /> the BorroH�er in and ta any insurance policies then in force shall Lender shall be en:l�fe3 Ya cAllect all expenses ineurred in p.�rsui.�g --
<br /> • pass ta the purchascr or grantee. the remedies pro.•i�Ld in th.ic parasraph 13, including,but not �; ��
<br /> limitcd to. reasor,ab;e a�rorneys' Pees and costs of[itte evidence.
<br /> 9. That as additional and callateral security Por the payment af
<br /> the note described,and all sums ta becorne due under this inslru- If the pou•e:o;sa:.is invoked. Trustee shall record a notice of
<br /> ment,the Borrower hereby assigns Zo the l.ender all profits, dePaul[in eac:: caunt}�i:: u�hich any part of the Froperty 'ss located r
<br /> revenues, royalties, rights and benei'its accruing to Ihe 13orrawer ar.6 shali mai:copies o.°s�rcr�notice in the manrter pres�;b;d by ►,_
<br /> under any and all oil and gas leases on sai� g�emises, w�itb thc ap,]::.abie la•.� ro Borro�••�r ar,d to the other persons pre,ribed by
<br /> right to receive and reczipt for�he same a.w apply them to�aid applicable ta�.s :�Yc:r i',c rir,�: required by applicable law,�'ruste+:
<br /> indebcedness as well before as a5car defa_:�in the conditians of shall gice pu:�`;: r���;e u;sa?c ro the persons and in the manner
<br /> this instrumcnt,and the Ler,d�:s rr..; d;r;.�^d,su; for and rerover rescribed b a ' '�:,]�u. 'Trustee, without demanJ on Bor-
<br /> P Y ��.::a: . '�
<br /> any such payments when due aa�p�ayz�ie, b:.:! shall not bc re- rower, shall sell �he Yro;.e:t, at public auctian to thc highest bi3-
<br /> quired so to do. This assignm:::: i; t5 t�sm;�.:a�e and becomc null der at the timc ar��;:;;e �:.�w'under the terms designated in tA;
<br /> - and void uyon retease of this 's-;rru.r.;c:.?. notice of'sale ir:�nc ar nore parcels and in any �rder Trustee
<br /> determines. TQUaxQe m�y pastpone sale of alt ur any parrcl of thc
<br /> t0. Th�t the Iionower wiU kee�the bc:.d'.^�s upan said premises F'ruyerry by �s��t�;ic announcement at the time and place oE any
<br /> in gaod repair.and neither commii nor pe;r�ir:waste upon said pr:ti•it�usly scheduted sale. l.ender ar its designee may purchase the
<br /> ; land. nor suffcr the said premises to trc used for any unla�vfu! pra;,eriy ae any sale.
<br /> purposc.
<br /> Upon rrrcipt of paymcnt of N�e �ricc bid. 'Trustce shall dclivcr
<br />_ 11. That it'the premises, ar any part thcreoP, be conclemned to Ihe purchaser Trustee's deed canveyiug the Prnperty. The
<br /> s nnder Ihe pau•er of eminent domain. ur acquired for a public usc, reci�als in the'Prustee's deed shall l�e prim� facie evidenre oP the
<br /> . �hr damages awarded, the proreeds for the t�king af,or thc con• truU►uf tl�c state�nents made thetein. Trustce shaU apply lhe pro•
<br /> sideration for such a.quisition. to the extent uf Il�e full amount of ceeds oP the sale in the fvlloa•ing order: (a1 to all expenses of the
<br /> indebtedness upon this instrument and the nnte which it is given to sale, inctuding. but ui�t lirnited tn, Trustee's fees as permiued by
<br /> stcurc rrm�ining unp�id.arc iiereby assigned by ihe Horrowcr to applicable law and reasonablc auorncys' i'cws; (b) to all sums
<br /> �he l,ender,�nd shall br paid Purthwith ta caid Ixndet to be ap- +ecored by �6iti See�vity lnstruuient; aitd (c)any exress to the ��er-
<br /> plitd by the iatter on arcount oS the next maturing installnunts��f tion or persons Icbally entitled tv it.
<br /> such indcbtedness.
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