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<br />event of loss Borrower will give immediate notice by mail to the
<br />tender, who may make proof of foss if not made promptly by
<br />Borrower, and each insurance company concerned is hereby
<br />authorized and directed to make payment for such loss directly to
<br />the Lender instead of to the Borrower and the Leader jointly, and
<br />the insurance prod;, or any part thereof, may be applied by the
<br />Lender at its opficm eerier to the reduction of the indebtedness
<br />hereby, serud tL u, tie restoration or repair of the property
<br />damaged. In evert cif furedosure of this instrument or other transfer
<br />of title to the mortgaged property in extinguishment of the
<br />indebtedness secured hereby, all right; title and interest of the
<br />Borrower in and to any insurance policies then in force shall pass to
<br />the purchaser or grantee.
<br />9. That as additional and rousted security for the payment of the
<br />note described, and ell sums to bee6 me due under this instrument,
<br />the BQMWer hereby assigns tu'llie ftrender all profits. revenues,
<br />royaffies,'r#;g 6 and beriifits accruing to the Borrower under any and
<br />all otv acrd gas lea- on said premises. with the right to receite and
<br />receipt for the same end apply them to said indebtedness as well
<br />before as after default in the conditions of this insT. urnent, Fd she
<br />Leader may demand. sue for and recover any such paymer w fnen
<br />due sad payabK but shall not be regtdr d so to do. This :s& pmt
<br />is to terminate and become null and void upon release of this
<br />instrument.
<br />10. That the Borrower will keep the buildings upon said pre#ses
<br />in good repair, and neither commit not permit waste upon said. land,
<br />nor suffer the said premises to be used for any unlawful purpose
<br />11. That if the premises, or any part thereof, be condemned under
<br />the power of eminent domain, or acquired far a public use; the
<br />damages awarded, the proceeds for the taking of, or the
<br />consideration for such acquisition, to the extent of the full amount of
<br />indebtedness upon this instrument and the note which it is given to
<br />secure remaining unpaid, are hereby assigned by the Borrower to the
<br />Lender, and shall be paid forthwith to said Lender to be applied by
<br />the latter on account of the next maturing installments of such
<br />indebtedness
<br />I2. ITtr Borrower further agrees that should this instrumena and
<br />the n z a secured hereby not be eli&L- for insunuo -__ under the
<br />National Housing Act within eight marths from We date hereof
<br />(writxre statement of any officer cof tls: Depa 4errer:. of Tlo:.s: -, and
<br />Urban Development or authorized, agrsr.:t of the Sw.- a y of Gii wing
<br />and Urban Development datednabsNuent to tlr, e: ht mot h; 7 same
<br />from the date of this instrument, declining to irtsw >e sa:d note and
<br />this mortgage, being deemed conclusive proof of such ineligibil 40,
<br />the Lender or holder of the note may, at its option, declare as !.�ms
<br />secured: ti,-.reby immediately due and payable. Notwithstand-^g• tlm
<br />forego&g;,, this opt-en may not be exercised by the Lender os Oa
<br />holder of the nose u en the ineligibility for insurance under the
<br />National Howing A v.. is due to the Lender's failure to remit the
<br />mortgagu insurance premium to the Department of Housing and
<br />Urban 06- kelopment.
<br />13. That if the Borrower fails to make any payments of money
<br />when the same become due. or fails to conform to and comply with
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<br />any of the conditions or agreements contained in this instrument, or
<br />the note which it secures, then the entire principal sum and accrued
<br />interest shall at once become due and payable, at the election of the
<br />Lender.
<br />Lender shall give notice to Borrower prior to acceleration
<br />following Borrower's breach of any covenant or agreement in this
<br />instrument (but not prior to acceleration under paragraph 12 unless
<br />applicable law provides otherwise). The notice shall specify: (a) the
<br />default; (b) the action required to cure the default; (c) a date, not less
<br />than 30 days from the date the notice is given to Borrower, by which
<br />the default must be cured; and (d) that failure to cure the deWi I on
<br />or before the date specified in the notice may result in acceleation
<br />of the sums secured by this instrument and saFe of the Prepezty. The
<br />noticx shall further inform Borrower of the right to reinstate after
<br />accekration and the right to bring a court action to assert the non -
<br />exis=ce of a default or an!+ othea defe -z of Borrower to
<br />acceleration and sale:. If die default is not cuted on or before the date
<br />specified in the notice, Lender at its option rmay require immediate
<br />payment in full afall•sums secLt' by this instrument air.hm ut
<br />ke
<br />further demand and may ine ' the power of sale and am]g u• her
<br />remedies permitted by applicable law. Lender-shall be e=ifjed to
<br />colle,:. all ewiists irsCuffed in pursuing ihi -wrie dies provided in
<br />this paragraph 13,'including, but not limited' :io.'reasonable
<br />attorneys' fees and costs of title evidence.
<br />If the power c9 We is invdkad. Trustee anall record a notice of
<br />default in each co;4aty in which any part o' tip: Property is located
<br />and shall mail copiies of such notice in thz tanner prescribed by
<br />applicable law to Borrower and to the other persons prescribed by
<br />applicable law. After the time required by applicable law. Trustee
<br />shall give public notice of sale to the persons and in the manner
<br />prescribed by applicable law. Trustee, without demand on Borrowa ;.
<br />shall sell the Property at public auction to th, highest bidder ar, Oz.-
<br />time and place and under the terms designated in the notice of sale
<br />in one or more parcels and in any order Trustee determines. Trustee
<br />may postpone sale of all or any parcel of tho Property by public
<br />announcement at the time and place of any previously scheduled
<br />sale. Lender or its designee may purchase the Property at any sale.
<br />Upon receipt of payment of the price bid, TE ustee shall deliver to
<br />the purchases " rm;;�s deed crmveying the Property. The recitals in
<br />the T;;es:9e< if shall be prima facie evidence of the truth of the
<br />statements.rrnA ibirein. Trustee shall apply the proceeds of the safe
<br />in the followikg r-nier: (a) to ail expenses of Obe sale, including, but
<br />not limited to. Trustee's fees as permitted by applicable law and
<br />reasonable attorneys' fees; (b) to all sums secured by tt s Saw rigi
<br />Instrument; and (c) any excess to the person or persons liWOV4 ,
<br />entitled to it.
<br />14. Upon acceleration under paragraph 13 ,or abandon: 4 .': of the
<br />Piva,erty, Lender (in person, by agent or by judicially appe:•aed
<br />receiver) shall be entitled to enter upon, take possession of and
<br />manage the Property and to collect the rents of the Property
<br />including those r+st due. Any rents collected by Lender or the
<br />receiver shall be applied first to payment of The costs of management
<br />of tba Property and collection of rents, ineiudirg, but not limited to,
<br />red iter's fees, premiums on receiver's bows and reasonable
<br />attorney's fees. and then to the sums secured by this instrument.
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