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<br />event of loss Burrower will give unmediate notice by mail to the
<br />tender, who may make pr0iif: of less if not made promptly by
<br />Borrower, and each insurance company concemed is hereby
<br />authodzcd and directed to iitalt : payment for such lass directly to
<br />the Lender instead of to the.. Borrower and the Leader jointly. and
<br />the imuraaw p oceeds, or a3yy part thereof my be Wiled by the
<br />tender at its option either ". the reduction of the indebtedness
<br />hereby secured or to the rempration or repair of the property
<br />damaged. In event of foreciceure of this instrument or other transfer
<br />of title to the mortgaged pro' -_ y. in extinguishment of the.
<br />indebtedness secured hereby ;,0: right, title and interest of the
<br />Borrower in and to any insure: ce policies then in force shrill :pa % to
<br />the purchaser or grantee.
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<br />any of the conditions or agreements contained in this instrument, or
<br />the note which it secure;, then the entire principal sum and accrued
<br />interest shall at once become due and payable. at the election of the
<br />Leader.
<br />fender shall give: notice to Burrower prior to naderation
<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 default on
<br />or before the date specified in the notice may result in acceleration
<br />12. The Borrower further agrees that should this instrument and
<br />the noje secured hereby, riot be eligible for insurance under the
<br />National Housing Act within eight months from the date hereof
<br />(written statement of any officer of the Department of Housing and
<br />Urban Development or authorized agent of the Secretary of Housing
<br />and Urban Development: dated subsequent to the eight months' time
<br />from the date of this instrument. declining to insure said note and
<br />this mortgage, being deemed conclusive proof of such ineligibility),
<br />the Lender or holder ofthe note may, at its option, declare all sums
<br />secured hereby immediately due and payable. Notwithstanding the
<br />foregoing, this option may not be exercised by the Lender or the
<br />holder of the note when, the ineligibility for insurance under the
<br />National Housing Act is due to the Lender's failure to remit the
<br />mnrtgagr insurance premium to the Department of Housing and
<br />Urban Development.
<br />13. That if the Borrower fails to make any payments of money
<br />when the same become due. at fails to conform to and comply with
<br />Upon reoespt of payment of the price bid. Trustee shall deliver to
<br />the purchases Trustee's deed conveying the Property. The recitals in
<br />the Trustee's. deed shall be prima facie evidence of the truth of'the
<br />statements made therein. Trustee shall apply the proceeds of the sale
<br />in the following order: (a) to all expenses of the sale, including, but
<br />not limited no. Trustee's fees as permitted by applicable law and
<br />reasonable sitorncys fees; (b) to all sums secured by this Secumtyy
<br />Instrument; and (c) any excess to the person or persons legally
<br />entitled to it.
<br />14. Upon acceleration under paragraph 13 or abandonment of the
<br />Property,; Lender (in person, by agent or by judicially appoirud•.
<br />receivet)•shall be entitled to enter upon, :ake possession of and
<br />manage the Property and to collect the rents of !fie Property
<br />including those past due. Any rents collected isy Lender or the
<br />receiver shall be applied first to payment of qn wets of management
<br />of the Property and collection of rcat% tactuding, but not limited to.
<br />receiver's fees. premiums on receiver's bonds and reasonable
<br />attorney's fees. and then to the sums secured by this instrument.
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<br />of the sums secured by this instrument and sale of the Property- The
<br />9. That as additional and coilbteral security for the psytneur of"the
<br />notice shall further inform Borrower of the right to reinstate after
<br />cote described, and all sums to become due under this instrument; .
<br />acceleration and the right to bring 4 court action to assert the non-
<br />the Samavk hereby assigns to tbf,- -ceder all profits. revenues....." ' .
<br />existe=o €a default. or any other de4f °`ase.ef Borrower to
<br />roya :tip : rr and benefits atCruit Ti, Mm 13orrowet uttrlt7rany'i sli , .
<br />acct tersAiter. rr• rd salty U the defaut ° rrai lm ipt before the date
<br />all oil and g,is leases cm said premik& wetN the right (r3'te +aytrnr : ' ,
<br />speafi>3i inike votave, lender -at �i� - .,peter, may; ttquire immed�te
<br />receipt for the sain aadapply therm tasaid ihdebed6cs is.arl •i ;_. _.
<br />payiricntrb. full ofa an sums sem-ta - g-ibis instrument'witlim-
<br />before as after default in xle conditiaus of this instr4 Y; ar=id tte . `,.
<br />furtherdemand arw3 may invoke dhte power of sale and any o,'to..
<br />Lender maydemand, sue for and rev *.m any such payments tepee
<br />remedies permitted bry"plicable sw. Lender shall be entitles? 2p-
<br />due and pa�crble. but shall not be ceraixed. so to do. This assigrim4mt .
<br />collect all expenser,; uttered in pursuing the remedies provided -is.
<br />is to termi =e and become null amf'voi'd upon release of this
<br />this paragraph 13, ine uJing, but n ©t limited to. reasonable
<br />instrument.
<br />attorneys' fees and costs of title evz4mwe.
<br />10. Thu: the por. owaT uAl keep rte buildings upon said prenii9_11i
<br />If the power oft sale ASS invoked, Trustee shalt rte;,,:• *_d ant .ter -ear'
<br />in good repast ; and neit`w- commit nor permit waste upon said 1 �3.. ,
<br />default in each counax En which any part of the ff r y k, -,VCe; ;
<br />nor suffer zliv said premi-sts to be used for any unlawful purpose.
<br />and shall mail c3pies of such notice in the macrr�
<br />applicable law to Borrower and to the other persons prescribet; t w,
<br />11. That if the premises, or any pan thereof, be condemned under
<br />applicable law. After the time required by applicable law, Truv,,,t;
<br />the power of eminent domain, or acquired for a public use, the
<br />shall give public notice of sale to the persons and in the manner
<br />damages awarded. the proceeds for the taking of, or the
<br />prescribed by applicable law. Trustee, without demand on Borrower,
<br />consideration for such acquisition, to the extent of the full amount of
<br />shall sell the Property at public auction to the highest bidder at the
<br />indebtedness upon this instrument and the note which it is given to
<br />time and place and under the terms designated in the notice of sale
<br />secure remaining unpaid, are hereby assigned by the Borrower to the
<br />in one or more parcels and in any order Trustee determines. Trustee
<br />Lender. and shall be paid fionhwith to said Lender to be applied by
<br />may postpanc sale of all or any parcel of the Property by public
<br />the latter on account of the next maturing installments of such
<br />announcement at the time and place of any previously scheduled
<br />indebtedness.
<br />sale. tender or its designee may purchase the Property at any sale.
<br />12. The Borrower further agrees that should this instrument and
<br />the noje secured hereby, riot be eligible for insurance under the
<br />National Housing Act within eight months from the date hereof
<br />(written statement of any officer of the Department of Housing and
<br />Urban Development or authorized agent of the Secretary of Housing
<br />and Urban Development: dated subsequent to the eight months' time
<br />from the date of this instrument. declining to insure said note and
<br />this mortgage, being deemed conclusive proof of such ineligibility),
<br />the Lender or holder ofthe note may, at its option, declare all sums
<br />secured hereby immediately due and payable. Notwithstanding the
<br />foregoing, this option may not be exercised by the Lender or the
<br />holder of the note when, the ineligibility for insurance under the
<br />National Housing Act is due to the Lender's failure to remit the
<br />mnrtgagr insurance premium to the Department of Housing and
<br />Urban Development.
<br />13. That if the Borrower fails to make any payments of money
<br />when the same become due. at fails to conform to and comply with
<br />Upon reoespt of payment of the price bid. Trustee shall deliver to
<br />the purchases Trustee's deed conveying the Property. The recitals in
<br />the Trustee's. deed shall be prima facie evidence of the truth of'the
<br />statements made therein. Trustee shall apply the proceeds of the sale
<br />in the following order: (a) to all expenses of the sale, including, but
<br />not limited no. Trustee's fees as permitted by applicable law and
<br />reasonable sitorncys fees; (b) to all sums secured by this Secumtyy
<br />Instrument; and (c) any excess to the person or persons legally
<br />entitled to it.
<br />14. Upon acceleration under paragraph 13 or abandonment of the
<br />Property,; Lender (in person, by agent or by judicially appoirud•.
<br />receivet)•shall be entitled to enter upon, :ake possession of and
<br />manage the Property and to collect the rents of !fie Property
<br />including those past due. Any rents collected isy Lender or the
<br />receiver shall be applied first to payment of qn wets of management
<br />of the Property and collection of rcat% tactuding, but not limited to.
<br />receiver's fees. premiums on receiver's bonds and reasonable
<br />attorney's fees. and then to the sums secured by this instrument.
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