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<br /> � made shall be added to the principal sum o�.•ing on the abo��e l2. The Bono�ser further agrees that shoul��his inTtrument and
<br /> no:e, shall be secured herebg,and shall bear interest a[ the rate set the note sec�red ttereby rtot be eligib[e for insurance un�er the:Va-
<br /> forth in the said note, until paid. tional Housins Act u�ithin eight ntonths fro�th_date hueof
<br /> (�vritten scatemeat of an�officer of the Degarcnc.ne a9 Ho�uing
<br /> 7. That the Borrower hereby assigns,transfers and sets over[o and UrSan Oeeelapment or authorized agent of the Sxretary�of
<br /> the I.er[der. to be applied totvard the payment of the nose and all Housing and Urban Deselopment dated subsequ�n:to the eight
<br /> snms secured hereby in case of a default in the performance of months'time from the da[e aP this instrument,d.clining co insure
<br /> any of the terms and conditions of this instrument or the said said note and this mortgage.being deem:d condusi�•t pronf of `
<br /> aote,a}!the rents, rerenues and income to be derived from tlte such inellgi6ility).the Lender or holder of the n�:e map.at its op-
<br /> . said premises during su.h ame as the indebtedness shall remain cion.deciare all sums secured hereby immediate[}due anti pa�•able. -
<br /> _. unpaid,and the Lender shall have potir-er to appoint any agent or Nott�ithstAnding the foregaing,this option may not be e.Kercised
<br /> agenu it may desire for the purpose of repairing said premises a,nd by the Lender ar the holdcr of the note w•heis the in:ligibiliiq for
<br /> of rEnting the same and calIecting the ren[s, revenaes and income, insuranc�under the 1Vatianal Housing Act is due to the Lender's
<br /> and it may pay ous of said incomes all expenses of repairing said faiture to remit the mortgage insurance premium to iht B�p3rt-
<br /> premises and necessary commissions and exnenses incurred in rent� ment of Houssng and Urban Deceopment.
<br /> ing and managing the same and of ca•i:`ti�g rentals therefrom;
<br /> [he ba[ar.c:�:emaining, if ang, to be��a;ied tou�azd the discharge t3. 'fhat iF the Bc,:����rer fails.o make any pay:�enu of rceaEy
<br /> of sai3»���:�ness. wft��hc sa�ne be�:,r^:�ae,or f�s[.�conforr<t t•3 and sa:�:i^�
<br /> � a��h an��tsf��e co;�,;.°:;oas or a�c���`s cor.�.:�•�. �z IF,i i-ar�=
<br /> �_ ��it: If7E�Jt-�tit..:H�SI: I�L'2'�1 t.^.� '�7'�L'C:=:�:7�.IInR'.eh15iY(ig ment, or thr n3:�;�Slb.>{T StiC.:'��"1:�.i:i��e"i5��?t 1.*^Cc�^��"'�i .
<br /> or h::e�f."�u�w-�r.zc:e�cr �.':e Fragem. i�rur:�aa�.;�ar i�e re�u;�ac4� and ac�u�!:nte.-e�-t=:�.».*i at o.^.�::e�,�e���:,��,:;�:�;�,�'�.�:°��
<br /> from i-�::;e,»rn:Es.;�e d.e-ider 2�„inL.i��s:::re�au3 oche: ` ele�iai;of che L�:d:�_.
<br /> . yazards, cas��ities a-:y a�n*_;;.ger.�z�i.*.suc3 a.,..a:,���and for such .
<br /> veriods as may be rec,�ir��.�:c° .L��n��. �,-:� ��;i1J��.�i Prompd}, Lendez shal}gire^r,�ce_� �c-�u�v�-;�-�;,�,;,:�'�:ratiG:�
<br /> when dae.any pr�miuza c.r.,;zc.�irsu�t::,ct�r•�::�='�n for paym`nt fallo«•ing Borrotic;;"s's:r�c:�cf ar_k,;.�;���-,: ,<���mtnt in this • •
<br /> '�f which has not been r.,u�: ;„��ri�:c:r.qll i::srance shall b: instrument(bu[not prior to acce�e:_^:r-�und��yragraph 12
<br /> carried in companies appro�•zd by the Lender ar,�the policies and� un[;ss applicable lativ provides other..;se). The notice shall sperify:
<br /> reneaals thereof shall be held by the Lender and f�ave attached (a)the defAUtt;(b)the action required to cure the d�faulf: (c)a
<br /> rf�ereto loss payable clauses in favor of and in form acceptabte ta date. aot less than 30 days from the date the notice is gic,en to
<br /> � the Lender. In evenc of loss Borrower�vill give immediate aotice Horcower, by ti�•hich the default musc be cured: an� {d)thai failure
<br /> by mail�o[he Lender. «•ho may make proof oP loss if not mattc to cure the default nn or before the date specified in tht nalia
<br /> prompdy by Borrow•er,and each insurance eompany concerned is map result in aceeleration of the sums seeured bp this instrument
<br /> hereby authorized and directed to make paymer�t for such loss and sale of che Property. The notice shall funher inform Bntrower
<br /> directly to the Lendcr instead of"to the F3orro�ser and the l.cnder af the right to reinstate after accelcration and the right to hring a
<br /> jointly, and the insuranre proceeds, or 2ny part thereof, may be raurt action tu assert the non-exiscence af a default or an�other
<br /> applicd by thc Lender as its option eithcr ta the reduction of�he dEfcnse of Qurra�ti•er to accetcration and sale. If th; d:fauli is not � �
<br /> indebtedness hereby srcured or to thc restaratiu�i or repair of'the curecl on or before the date specified in the notice. Lend�r at its
<br /> propeny damaged. In event of fareclosure of[his instrument or option ma>•require immediate payment in full of al! sums secured
<br /> other transfcr of title to the mortgaged properry in extinguishment by this instrument a•ithout funher demand ans!may� invoke the �
<br /> of[he indebtedness secured hereby, all right. [i[le and interest oi' pu�ser oi sale and any other remedies permitced by ap�:f;abSe law.
<br /> the Borrow•er in and to any insurance policies then in force shall� Lender shall 6e entitled to collect all expenses in;urred in pursuing
<br /> pass co the purchaser ur grantee. �he remedies provided in this paragraph 13, in.►nding,bvt not • -
<br /> limited to.reasonable attomeys' fees and costs of tict:e�i�sn.e.
<br /> � , 9. That as additional and collateral securiry for the payment�nf� �, ;—
<br /> ��:
<br /> the note described,and all sunts to becamc duc under this instru• !�•tt�e po�ccr of sale is invoked, Trustee shall record a na2i:e of
<br /> ment,lhe Borrower hereby assigns to the Lender all profits, defttull in each county in eshich any pan of the Property i�tocated
<br /> revenues, royalties, rights and benefits accruing to the Borrow•er and sfiall mail copie:of such nutice in the manner prescribed by
<br /> under any and all oil and gas feases on said premises.with che appli;abl:IAw to Barroa•er and to the other persons prec�ibed by r
<br /> right to receivc and receipt for the same and apply thcm to said appli;able la�v.After the time required by aDD�:��te latiY.Trustee �.f,
<br /> indebtedness as well befors as after default in the conditions of shAll�give public notice of sale to�'�.e aerso-s�?:� in th:mann:t
<br /> this instrumem, and tAe Lender may demand, sue for and recaver pres�ibed by applicable law. Trus�.e.,c.i:ho�• �.^�3nd o�8�7. ��
<br /> aay such payments u�her.due and payable.but sha9!not be re- rou�e:,shall sell the Property at pv�:i�auctioz ca th:higt:.s3 F,id-
<br /> Au'ued so to do. This assignment is to terminate and become null der at thc tlme and place and under the terms d�aignated in the
<br /> and void upon release of this instrument. noticc af sale in ane or more parcels and in any order Trustec ' �
<br /> detcrminfs.Trustee may postpone sale of ail or any Darcel of the
<br /> 10. That the Borrower�vi11 keep the buildings upon said premises Property by public announcement at tlie time and ptace of 2ny
<br /> in good repair,and neithrr commic nor permit waste upon said previuusty scheduled sale. Lender or its designee may p�rchas:th:
<br /> land, nor suffer the said premises to be used for any unlawful Property at any sale.
<br /> purpose.
<br /> Upon receipt of payment nf the price bid. Trustee shall deliti•er
<br /> 11. That ii the premises.or any parY thercof, be candemned to the purct�aser'I'rustre's deed ca�veying the Property. Th:
<br /> u.rtder�he power of eminent domain.ar acquired for a public use, recitals in the 7'rustee's deed sha11 be prima farie eviden;e oi ehe
<br /> the damages awarded,the proceeds for the takinb of. ar the con- truth��f the state�ucnts madr therein. �'rustee shal}apply the p;o-
<br /> _ sideration for such acquisitian, to the extent of the full amomit of ceeds of the sale in the falla�ving order: (a>to all expenses of the
<br /> indebtedness upon this instrumcnt and the note which it is �iven to s�le, induding, but nat limitcd to, Trustce'ti Pceti av pennined by
<br /> secure remaining unpaid,are hereby assigned by the Borrnwer to applicable laa�and reasonabte attnrneys' fees; (h)to aU su;rs
<br /> the Lender,and shall be paid fonhwith to said Lender to be ap- +cKUred by this 5er�uity lnstrument: and (c)any excess co ct�: y�cr-
<br /> plied by the latter an account of Ihe next maturing installments of son or p:rsans Iegally cntitlecl to it.
<br /> such indebtedness.
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