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<br />Lender. in event of loss Borrower will give immediate notice by
<br />nail to the Lender, who may make proof of loss if not made
<br />promptly by Borrower. and each insurance company concerned
<br />is hereby authorized and directed to matte payment for. such loss
<br />directly to the Lender instead of to the Borrower and the
<br />Lender jointly, and the insurance proceeds, or any part thereof,
<br />may be applied by the Lender at its option either to the
<br />reduction of the indebtedness hereby secured or to the
<br />restoration or repair of the property damaged..In event of
<br />foreclosure of this instrument or other transfer of title to the
<br />mortgaged property in extinguishment of the indebtedness
<br />s rred hereby, all right, tide: and interest of. the Borrower in
<br />and to any insurance polidm then in force shall pass to the
<br />purchaser or grantee.
<br />9. Thai as additional and coltaterat•s&vAty for the payment
<br />of the note described, and all sums to become due under this
<br />instrument, the BorrowaT hereby assigns w the Lender all
<br />profits, revenues; royalties; ssghts a2-'Ixneflis accruing to the
<br />Borrower under any and as:oil ard;S.: leases on said premises,
<br />with the right to receive an4l.regeipi fasthe same and apply
<br />them to said indebtedness as well. Wore as after default in the
<br />conditions of this instrutmnt* and the Leader may demand. sue
<br />for and recover any such•p4ments when due and payable, but
<br />shall not be required so to z�3. This assignment is to terminate
<br />and become null and void urn release of. this instrument.
<br />10. That the Borrower will keep-thc buildings upon said
<br />premises in good repair, and neither commit nor permit waste
<br />upon said land, nor suffey,whr said premises to be used for any
<br />uniswful purpose.
<br />y 1. That if the premises, „r any pax: thereof, be condemned
<br />under the pave- of eminent domain, o,- acquired for a public
<br />rue, the damagr. zra•X-da:1, the proceeds for. the taking of, or
<br />the consideration for su: h acquisition, to the extent of the full
<br />amount of indebtedness upon this instrument and the note
<br />which it is given to secure remaining unpaid, are hereby assigned
<br />by the Borrow.-r to the Lender. and shall be paid forthwith to
<br />said Lender is be applied by the latter on account of the next
<br />maturing in- w%;finents of such indebtedness-
<br />1 2 ilih-Borrower furthe' gees that should this instrument
<br />and dar note secured hereby not -be eligible for im ;uuKce under
<br />the National Housing Act within eight months from the date
<br />hereof (written statement of any offio:- of the Department of
<br />Housing and Urban Development or authorized agent of the
<br />Secretary of Housing a:,d Urban Development dated subsequent
<br />to the eight months' tacos from the date of this instrument.
<br />declining to insure said note and this mortgage. being deemed
<br />conclusive prOaf of such ineligibility), the Lender or holder of
<br />the note may, at its option, declare all sums secured hereby
<br />immediately due and payable. Notwithstanding the fort ,wing,
<br />this option may not be exercised by the Lender or dte holler of
<br />the note when the ineligibility for insurance under the national
<br />Housing Act is due to the Lender's failure to remit the
<br />mortgage insurance premium to the frg5inment of Housing and
<br />Urban Development.
<br />13. That if the Borrouww faits to make any paymer rs of money
<br />when the same becom: clue, or fails to conform to and comply
<br />with any of ttxe conditions or agreements contained in this
<br />instrument, or tLe note which it secures, then the entire
<br />principal smat and accrued interest shall at once become due and
<br />p Able. at the election aP the Lender.
<br />Lender shall give notice to Borrower prior to acceleration
<br />following Borrower's breach of any covenant or agreement in
<br />this instrument (but not prior to acceleration under paragraph
<br />12 unless applicable law provides otherwise). The notice shall
<br />specify: (a) the default; (b) the action required to cure the
<br />default; (c) a date, not less than 30 days from the date the
<br />notice is given to Borrower, by which the default must be cured;
<br />and (Q that failure to cure the default on or before the date
<br />specified in the notice may result in acceleration of the sums
<br />secured by this imemiment and sale of the Property. The notice
<br />shall further inform- Borrower of the right to reinstate after
<br />acceleralkom, ",the_ right to bring a court action to assert the
<br />non- e.Lstzen=at: adefault or any other defense of Borrower to
<br />acceler ftm alb. -.te. if the detw.tlt is not cured on or before
<br />the date specified in tiie cowve,' der at its option may require
<br />immediate paymem.Za OUR oYz:� su m' secured by, this
<br />instrument without CWLer demand grid may invoke the power
<br />of sale and any other remedies p,;tted by applicable law.
<br />Lender satall be entitled to collect all expenses incurred in
<br />pursniag die remedies provided in this paragraph 13, including,
<br />but not limited to, hksonable attorneys' fees and costs of title
<br />evidence•:
<br />If the peXer of sale is invoked, Trustee shall record a notice of
<br />default ineach county in which any part of the Property is
<br />located and shall mail copies of such notice in the manner
<br />prescribed by applicable taw to Borrower and to the other
<br />persons prescribed by applicable law. After rite trine required by
<br />applicable law, Trustee shall give gufilic notice of sale to the
<br />person:: and in the manner prescabef by applicable law,
<br />Truster without demand on Borrower, shall sell the Property at
<br />public auction to the highest bidder at the time and place and
<br />under the terms designated in the notice of sale in one or more
<br />parcels and in any order Trustee determines. Trustee may
<br />postpone sale of all or any parcel of the Property by public'-
<br />announcement at the time and place of any previously schetfuled
<br />sale. Lender or its designee may purchase the Property at any
<br />sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver
<br />to the purchaser Trustee's deed conveying the Property. The
<br />recitals in the Trustee's deed shall be prima facie evidence of the
<br />truth of the statements made therein. Trustee shall apply the
<br />proceeds of the sale in the following order: (a) to all expenses of
<br />the sale. including, but not limited to. Trustee's fees as
<br />permitted by applicable law and reasonable attorneys' fees, (h)
<br />to all sums secured by this Security lnstrument; and (c) any
<br />excess to the person or persons legally entitled to it.
<br />14. Upon acceleration under paragraph 13 or abandonment of
<br />the Property, Lender (in person, by agent or by judicially
<br />appointed receiver) shall be entitled- to enter upon, take
<br />possession of and manage,she Finpevty and to collect the rents
<br />of the Property including thtm& p�,.: due. Any rents collected by
<br />Lender or the receiver ~trail be applied first to payment of the
<br />costs of management of the Property and collection of rents,
<br />including, but net limited to. receiver's fees, premiums on
<br />receiver's bonds anti reasonable attorneys' fees, and then to the
<br />sums secured by this instrument.
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