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<br /> � made shall be addecY to the principal sum a�iing on the al�o�e 12_ Thc Boetouer furtkcr agrees that should this insttument attd
<br /> note,shal!be sc�cured hereby,and shaii bear in[erest at the rate set the no[e securecl hereby not 6e eligible for insurance urtder the Na-
<br /> Poreh in che said no�e,untit paid. ciona!Housing Acc nithin eight months From the date hereof
<br /> (tcritten statement of any officer flf che lJepartment of Ho�uing
<br /> 7. That the Sorrou�er hereby assigns,transfers and sets oeec to and Urban Decelapment or aathorized agent of the Secretary of
<br /> the Lender,to be applied touard the payment of the note and afl Housing and Urbsn Devetopment dated subsequent co the eighc �
<br /> sums sec�red hereby in case of a defasilt in the performaceee of rr�nths'time fram [hc date of chis instrument. dectining to insure
<br /> any ai the cerms aad canditions of this insrrument or the said saiA nate and this mor[gage,being deemed conc[usive prcof of
<br /> nose, all the rents,reveaaes and income to be derived from the such ineligibilitp),the Lender or hotder of the note may.at its op-
<br /> said prernises during such time as the indebted�iess shall remain tion.dedare all sums secured hereby immediatei�due and payabic.
<br /> unpaid,and che Len�er shall ha�•e poti.•e�to appoint any agent or Notwi[hstanding the faregoing, this optioa may noc be exerci�ed
<br /> agents it rnay desire far che purpose of repairing sai�premises and b;che Lender or che holctcr of the nate whrn the ineligibility for �
<br /> of renting the same and coilecting che rents,recenues and income, insurance under the Natianal Housing Act is due to the Lender's
<br /> and ii may pay out af said incomes alI exper_ses of repairing said failure to remit the mongage insurance premium to the Depart-
<br /> premises and aecessary eommissions and expenses incurred in rent- ment of Housing and Urban De�•eop�ent.
<br /> iag and managing che same and of coltecting rer:tats therefrom;
<br /> the balancc remaining.if any,to be apptied tox•ard thc discharge 13. That if the Barrowec fails to make an}�pay�ments of money
<br /> of said iride6sedness. tirhen the same becorne due,or fails to conform to and eompty
<br /> «ith any of the conditions or agrec�rnen�s contained in this instni-
<br /> 8. That the Borrouer���I!keep the improvements na�v existing ment, or the nate which it secures,then the entire principal sum � �
<br /> or hereafter erected on the property. insured as may be reqwred and accrued interest shall,at once become due and payable, at che .
<br /> from time to time by th�LFnder aga:nst loss by tire and other election of the[.ender. �
<br /> hazards,casuatties and cantingencies in such amounts artd for su:t� ' . '
<br /> . periods as may be required by[he Lender and wiU pay promptlf, Lender shall give notice[o Borrower prior to acceleration
<br /> when dae, air�% premiums on such insuram:e proti�ision for paym:nt follo�tiing Borrow•er's breach of any covenant or agreemen[ in this
<br /> , af which has :ot been made hereinbefore. All insurance shall be instrument(but not prior to accelera.t�nn under paragraph 12 �
<br /> �rried in cer:lpanies approved by the Lender and tke�totiries and unl`ss appGcabte law provides othe:sz.-�x). '1'he nstice shall sDecify:
<br /> � r�-.,�cvals tBer�f shalt be held by the[.ender and ►ta��4 r�irached (a)che default; (b)the action require�;o cure the defaulc; (c)a
<br /> ' ��te:eto ta�s r.�.�abte clauses in favor of and in form::o;�...°�table to date.not less than 30 days from the date the norice is giver�to
<br /> ' the Le�idei. fr,���ent of loss Barrawer wiU gi�•e immedia:e noti:e Borrow•er,by which the default must we cured; aad (d)that faiture _
<br /> � . ' by mail t4 11-�Gnder.who may make proof of loss if not mad- to cure the default on or before the dato specified in the notice
<br /> �*n�inpttp tn �dorrower,and each insurance compan}��ozcerned is may result in acceleratian of che su�secured by this instrument �
<br /> " Fc��; autto;ized anc!dlre.�ed to make paymenc for s�:h loss and sale af the Propeny. The notice shall funher inform Borrou•er
<br /> , d�a:ciy co che lendes instead of to the Borrow•er an3 the Lender oC the right to reinstate after acceleration and the right to brin� a �
<br /> jointiy,artd the insurance praceeds,or�n,part thereof, may be court action to assert the non�existence of a default or any o[her ��
<br /> appHed by the Lender at its option eitf�to the reduction of the defense of Borrow•er[o acceleration and sale. IF the defauIt is not -
<br /> ' ind:bteelness hereby secured or to the rese.�ration or r�air of the cured on or before �he date specified in the notice, l.eader at its '
<br /> property damaged. In event of forectosure of chis in�rn:ment or option may require immediate paymeat in fudl of all sums secured _ �•
<br /> other transfer of citle to the mortgaged prapeny in e.rtinguishment by this instrument without fur[her�e;l.and and may invoke the � �
<br /> � of the indebtedness secured hereby,all right. title and interest of po�cer of sale and any other reniedi�permitted by applica.�ic bxw. �:.,`
<br /> the Borro.►•er in and to any insurance po�icies then in force shalt Lender shall be entitled to coUect aU e.epenses iacuss•�in�;:::�uing
<br /> , pass to the gur;:haser or grantee. the rcmedies provided in this paragra�h !3.intJ^.M.�r_.�,l•t:: -:�t , �
<br /> ; limited to,rcasonable attomeys' fees::?d costs or'tiits euidesTC�. - `
<br /> . y. That as additional and colla[eral securiry for cre payment of :_
<br /> Ne notc cicscribed,and a3,1��i«s to Hecome due under this instru- If the pr_�cer of sale is invoked.Tr��:S:ee shall record a notiu:o� �=
<br /> , ment,the Borrower hereby xssibns to th�:Lender all profiEs, default in each counry in;vhich any part of[he Property is la�:::ed
<br /> � revenues, royaities,rights and benefits 4�_ruing to thr Borrower and shall mail copies af<�_ch notice in [he manner prescribed�y
<br /> � under any and all oil and gas leases on said premises.with thc a licable law to Borrawer and to tFe othrr '���
<br /> , pp persons precribed'�x ;
<br /> right to receive and receipt for the same and appty them to said applicable taw. After the timc requtmbt by applic�able law, T'ra;t�: ;�
<br /> ! i�debtedness as well before as after default in the cc•��'tions of shall give public natice of sale to tFe�r�-sons and in the manrcc-r ,
<br /> ahis instrumeni.and the i.rnder may demand.sue fcr.z:d reco�er presrribed by applicabte law.Trustee, without demand on Eer-, '^ �
<br /> any such paysnents when due and payable, but shaU nat be re- rawer. shall sell ihe Property at public auction to the highest ricf-
<br /> ; quired sa to cto. This assignment is to terminate and become null der at che time and pla.c and under the terms des(�.�ated in t'.:e `�_
<br /> � and void uy:�t s•etease of this instrumen[. notice of sale in one or more parcels and in any order Trastce �
<br /> determines.Trustee may postpone sale of all or any parcel of tJ;� ��
<br />, 10. That the Borrower v,,14 keep[he buildings upon said premises Property b3+public announcement at the time and place of an;� '
<br /> in good reDair, anrl neither commit rtor permit w�ste upon said previously schcdul:d sale. l.rnder or its dcsigncc may purchase the •
<br /> laad,nor suffer the said premiscs to be uscd for any unlawful PruDerty at any sa1e.
<br /> purpose.
<br /> Upbn rcuipt of payment of the pr,'ce bid,Trustee shaii deli�er
<br /> 11. That iP�he premises.ar any part thereof.Le c+yr,dttnned to�he purci�ascr Trustce's deed com�c:ying the Property.The
<br /> w�der the power aP eminent domain,or ucyuired J'i�r:� �ublic use, recitats in the 7'rostee's deed shall b.��cima facie evidence of trie
<br /> the damages awarded, �he proceeds for the taking cf. or the con• truth oi thc statements made therein. Trusice�ha31 apply the pro-
<br /> sideration f�r such acyuisition, to the extent of the full amouat oi ceeds of the sale in the fo�Io��•ing order: (a)eo aH�:si�enses of the
<br /> indebtednes!�.a�on this instrumcnt aRw:!��r.ote�e•hich it is giti•en t� sale. inctuding, but not timited ta.Trustee's fe`s ;:s permitted by
<br /> secure remaining unpaid,a�e hereby assigned by the�nrro�ver tv applicable law and reasonable aetorneys' fees; �b)ta a11 sums
<br /> the LRndtr,and s!�a11 be paid forthtivith to said Lender to bc a�- secured by�hls Security Instrument;and(c)any excess to the�e�-
<br /> plied by ihe tatter on account of ehe next maturing installments ot tion or persons Iegally entilled to it.
<br /> such indebtedness.
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