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<br /> made shalt E+e a��:d to t[nv rsicci�+ai +��r uwG..�;�nn thc aboce i2i The Borcou•er further aFrces that should chis instrument and
<br /> � nQte.sh3ll bz secured hr,fcP,y,s.,:.3 gh31t bear interest at the.rate sct t��.r,�.e secured hereby not be efigible for insLranee under the Na-
<br /> forcn ia the said n�.�,un�if p3i�. tiunal Housing Aa ���ithin eight inon[hs from th�date hereof
<br /> l«rittca statement of any ofroe:of the Ikpartment af Housing
<br /> 9. Ti�[he ik�:rowcr tsrcb� �.ssi�:-ss�sfcr�and setc o�er to and Urban De�'etopmeRt or authorized agent �f thr Seccetary of
<br /> the l.rnder, to be applied tcrl�osd tYx;�ytsn.at•of che note and all Housing amd Urban Bez•etopment dated substquent to.che eighc ,
<br /> sums secured hereb� in case o�8 d�f�r:.,::.iss�t�a::perf�rmance of months' time from che date of this insc�ument,decuning to insure
<br /> SIIy of lhe Ie[T[LS alLd Car«i:�,,u€t�r:s ir.:��iw'tsent or the said said nate and t�is mortga�e,bti�r deemed conciusi�e proof of
<br /> nou,att the rents,re�.en:,.•s ar�ir.,:r�;r;cc�ba:dericed from the suctr ineligibiUty), the Lend�r or h�lder of the note ma}. at its op-
<br /> said prem:ses du7c,7 sacix ticr, as cF�:ir.d:btedness sha11 rert►ain tion,declare ai;sums secure�hueby immediate[y due and Rayable.
<br /> unpaid.ai*�the L:r�:r�r��l�.a:e Pow�'to appoint any agent or NotwithsTanding the foregoing,this option may not be e�cercised ,
<br /> agenu it mag,3:aue for tls:�xzpose of repairin�said premises and by the Lender or the haldoz of the note �vhen the ineligibility for
<br /> of rer.tir.3 ttu:sar:e acd cc4,r¢ct:r3 the ren[s. revenues and ineome, insurance under the Na:ior►al Housing Act is due to the LeaQer's
<br /> aczd it maq paY a��.o�a�,i��r.c::.es afl expenses of repairing said faidure to remit the mor[gage insurance premium to the Depart-
<br /> prercises ar.d neoe,u�':mwr;�;:tsc.'-'ts and expenses incurred in tent- ment of Housi.�g and LTcban Oe�eopment.
<br /> ir�acw,+�3r�3gia�tY��:sar,-.n•as-a.�pF•collecting rentals therefrom: •
<br /> ctie balar�ce rer.ai::i�,if anS'� ta be app]ied con•ard the dischar�e i3. That if che Borro�re�faits co make an}•payznencs of moaey
<br /> Qf�ai�i�.Cteda�s: uhen the same becomc dae.or fails tv conform to and comply
<br /> �vith any of the conditions or agreements mntained in this instru-
<br /> ��`: S.,Th�t t��:S:s�to��rr E�i�fi�i�eep the improcements notiv existing ment,or the nate which it secures.the�the entire principaI sum
<br /> o:.t,crca€cer erected dT:.�c:pr�:ersY.insured as may be required and accrued irzcerest sha11 at once become dae and pay�able,at che
<br /> frn�tia�.�:t��:i�;r.•�y,:h�rir:n�r against loss 6y Cre and other election of the Lender. •
<br /> � hazards;.rasualt9:s�aud:u�tiaSeucies in such amounts and far such
<br /> perieds as ma!t..�e raq�tir:d by the Lea@er and crii)pay promptly�. Lender shall gi�•e notice ca Borrou�er prior to acceteration
<br /> w(ii;nduu;atc��rt�iu.7:s on such insurance prorision for payment follo��ing Borcotir•er's breach of any co�•enant or agreement in this
<br /> o�.v�bir.fi:Su'3s aot b�en iaaQe i��einbefore. All insurance shail 6e ins�rumenc (6uc not prior co acceleration under paragraph 1Z
<br /> carr"v;d�:��.ampanies apgroved tr:�he Lender and the policies and unless appticable law pruvides othenvise).T[?e notice shall specify:
<br /> renea�ais tkereoP shall be held by ihe Lender and hati•e attached (a)the defaulc;(b)the accion required to cure the defaulr,(c)a
<br /> thereto lass payabfe ctauses in favor of and in form accep[able to dace,aot less than 30 days from the date the rtatice is given to
<br /> the Lender. In et•eni of toss Borroticer a�ilf giL�e immediate nouce B�no�ver, by �r•hich th�defauit must be curzd; and(d)that fa�ure
<br /> by mail to che Lender,who may make proof of loss if not made to cure the defauli oa ar before[he date specified in the notice
<br /> prompth�t by Boaawer.and each insurance company concemed is may result in atceteration of the sums secured by chis instrument
<br /> � hen�v authorizecl and directed ro make paymene for such lass and sale of th�e Proper:y. The notice shall funher inform Boaower
<br /> dircct[y to the Len�er instead of co the Borro�ver ard the L�nder of the right co reinstace after acceleration and the righ[to bring a ,
<br /> jointly.and the insurance proceeds, or any pan thereof. r.��be coun action to assen che non-existeuce of a default or any other .
<br /> applied by the Lender at its opdon either to the reduccion af[he defense of Eonower to acceleration and sale. [f the de€auIt is noi
<br /> indebtedness hereby secured or to che restoration or repa�:of the cured on or before the date speci�ed ir_the notice. L�der at its , �
<br /> ' property damaged. In event of fore�losure of this ins[rutr.:nt or option may require immediate paymenc irr:ull ai all sums secured
<br /> other transfer af ticle to the mortgaged property in extinguishment by this instrument withouL funher de�a:.d anc! may invoke the
<br /> of the indebtedness secured hereby, ali right, ticle and interest af pou•er of sale and any other remedies permitted by applicable la�v.
<br /> the Banower in and to any insurance policies[hen in force shall Lender shall be entitled to coIlect all expenses incurred in pursuing _
<br /> Pass ta the purchaser ar grantee. the remedies pra�ided in chis �aragraph 13. inctuding, bui not
<br /> limited to, reasonable attome?�s fees and costs oi title evidence. ,.
<br /> 9, That as addittonal and collateral security for the payment of '+_
<br /> the rcLe described,and all sums to become due under this instru- lf the potser of sale is incaked.Tnf.stve shall reeord a notice of
<br /> ment.the Bonower hereby assi�ns to the Lender all profits, de!'aalt in each county in which any pan of the Property is tocated
<br /> revenues, royalr�, n�ru and benet►ts accruing to the Borro�ti•er ar.cJ shall mai!copies of such aoiice in the rnanner hr�cribed by
<br /> ' under any and all c:t and gas leases on said premises.with the �,:�rlicable law to Borrower a.r*.d to the o�her perso:s�recribed by ,
<br /> rigt,c c�receive and receipt for�he same and apply them t� said �:��licable law. After the time required is, .z..�plicable taw.Trustee �..
<br /> ' �ndcL*���drtess as weU before as afi��r default in the conditio:s of ��:�all gi�•e puE:i�notice of sale to the rer:�+:�s And in the manner
<br /> � this instrument,and the Lender 7ay demand.sue for and recover prescribcd by �r�:icablc law. Trustee. ��•it�out demand on Bor- '-'`•
<br /> . any such payments when due and payabSe. buc shall not be re- ra�ver, chall sell she Praperty at public auction to the highest bid-
<br /> quired so to do.This assignment is to ter.:i�;;4:s and become null der at the timc and placc �:.d undcr the terms designated in the ,
<br /> and void upon retease of this instrument. notice of sale in one o:r.�:;�parcels and in any order Trustee
<br /> determines.Trustee may postpone sale aP all or any parcel of fhc
<br /> B rrower will ke the buildin s upon sai�premises Propercy SoY public announcement at r����ime and place of any `�•'
<br /> 1�. That the o rp s �
<br /> in good repair,and neither commit nor permi� waste upon said pr:viously scheduled sale. l.ender or its�esignee may purchase thc
<br /> land. nor suffer the said premises to bc used fur any unlawful P�ropccty at any sale.
<br /> purposc.
<br /> Upon receirt of Daymem ai the price�id.Trustce�_''�:1 defivet
<br /> I1. That if the premises.�r a.�y Dart thereof. be condemnecl to th� purcfias�r Trustee's deed conveyirg�:he Propercy.The
<br /> under �he power of eminent d•.�rain, or acquired for a publie use. recitals in the?rustee's eleed shall be p:�.�a facie evidenee of the
<br /> the damages axarded,the proceeds for the taking of.or thc can• truth of thc statemcnts rn�iz therein. Trus?ee S1tnt1 zl:^ly the pra
<br /> , sideration for such acquisition.to the extr.n�af the futl amount of ceeds of the s��le in the fo!!�t%:r.g order:(a}:o afl c��:�:a;ses of the
<br /> indebtedness upon this instrument and the e�cce which it is given tn Sale, induding,but not 1��:::��.�:o,Tr��tee'4.°v:s a5 Gfsrmitted by
<br /> secure remainir�unpaid, are her:by assi�ned by the&:rroxer to applicable law and re�sonabte atEOrne}:;fa�: Cb� t:all sums
<br /> , the l.ender.and shall be paid fo^thwith to said Ler.d��r t;!ix ap� secured by this Security Instrument; a:;,i icv a::'eY.:.:ss to the p:r-
<br /> plied by the latter on account af the next mar..:.:-�i:•.t::.:t:snents of son or persons IcgaUy entiQed to it.
<br /> such indebtedne$s.
<br /> Page 3 ot 5 HUD-92143Bt :-_---=
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