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89- 101743
<br />apply them to said indebtedness as well before us after default in the conditions of this instrument. and the Loader may de.
<br />rntutd, sue for and recover any mch payments when due and payable. but shall not be required so to do. 7'i S assignment
<br />is hr terminate and become null and void upon release of this instrument.
<br />'10. That the Borrower will keep the buildings upon said pfemises in good repair, and neither commit nor: permit waste
<br />upon said land. 17 suffer the said premises to be used for any unlawful purpose.
<br />11. That if the premises, or any part thereof, be condemned under the power of eminent domain, or acgytited for a public
<br />use, the dumges awarded, the proceeds for the taking af. or the consideration for such acquisition, to the vixtcnt of the full
<br />amount of indebtedness upon this instrument and the note which it is given to secure remaining unpaid. are hereby assigned
<br />by the Bomwer to the Lender. and shall be paid forthwith to said Lender to be applied by the latter on aawotuu of the next
<br />maturing installments of such indebtedness.
<br />12. The Borrower further agrees that should this instrument and the note secured hereby not be el'i&ib1C for insurance
<br />under the National (lousing Act within eight months from the date hereof (written statement of any office€of the Department
<br />of Housing and Urban Development or authorized agent of the Secretary of Housing and Urban Development dated subse-
<br />quent to the eight months time from the date of this instrument, declining to insure said note and this mortgage. being deem-
<br />ed conclusive proof of such ineligibility), the Lender or holder of the note may. at its option, declare all suns secured hereby
<br />immediately due and payable. Notwithstanding the foregoing, this option may not be exercised by the Lender, or, the holder
<br />of the note when the ineligibility For insurance fonder the National Housing Act is due to the Lender's;failore to remit the
<br />mortgage insurance premium to the Department of Housing and Urban _Development.
<br />13. That if the Borrower fails to make any payments of money whey the same become due, or failt to conform to and
<br />comply with arty of the conditions or agreements contained in this instrument, or the note which it secures, then the entire
<br />principal sum and accrued interest shall at once become dun and payahti, at the elo-mon of the Lendfr:
<br />Lender shall gi c notice to Borrower prior w acceleration following Borrower's breach of a%v- covenant-or agreemeut
<br />in this instrument (but not prior to accelerra ion •ender p=graph 12 unless applicable law provid:ss oth,awise). The notice
<br />shall specify: (a) the default: (b) ft, action required to,.-, =Jie default: (c) a date, wi less than 30 days .from the date the
<br />notice a, given to Borrower, by Which the default must ;4- cured: and (d) that failure to cure ttez default ion or before the
<br />date specified in the entice may result in acceleration of TMe sums secured by this instrument and sate oflh -c Property. The
<br />no .e shall further inform Borrower of the right to rcinst4-_ *,after acceleration and the right to bring a court action to assert
<br />the mm-existence of a default arc any other defense of Boo' i wer to acceleration-and sale. If the default is:.ttarcured on or
<br />bef'are robe date specified in the rsaElice, Lender at its optivrr t :tiay require immediate payment in full of all'Sums secured by
<br />this instrument without further demand and may iavoke.the `power of sale and any other remedie; aermitttd'by applicable
<br />law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided, irr, Otis paragraph 13, in-
<br />cluding. but not limited to, reasonable attorneys fees and costs of title evidence.
<br />If 0,4e (power of sale in invoked. Trustee shall record a rorice' of default in each county in which any part of the Property
<br />is located and shall mzil copies of such notice in r l'e manner prescribed by applicable law to Borrower and to th'e other persons
<br />prescribed by applStb %e law. After the time rep ;u :rt ;d by applicable law.. T,rastee shall give public notice of sal6to the persons
<br />and in tote manner p.rel;cribed by applicable law'.' Trustee, without de :d on Borrower, shall sell the Prop: rty at public
<br />auctio:r: tip r `e'- —st bidder at Or time and place and under' the terms designated in top notice of sale in one or: more parcels
<br />and in wiN u rustee determines. Trustee may postpone sale of all c7 any parcel off the Property by public announcement
<br />at the t-,ma- and pl.a;e of any previously scheduled sale. Lender or iuz d signee may purchase ttrL. Property atl:any sale.
<br />Upy,:a receipt of payment of the price bid, Trustee shall. Miver to the purchaser Trustee's deed conveying tl,r Property.
<br />The mzxals in the Trustee's deed shall be prima facie etid: -ace of the truth of the statements made there:). Ti mstee shall
<br />apply the proceeds of the sale in the following order: (a) to all expenses of the sale, including, k4t :tot limited to. Trustee's
<br />fees as permitted hlr applicable law and reasonable attorneys' fees: (b) ti . ?A sums secured by Security instrument: fort`
<br />(c) any excess to person or persons legally entitled to it.
<br />14. Upon acceleration under paragraph 13 or abandonment of the Poire-ty, Lender (in person, by agent or by. judiciaif ;.
<br />appointed receiver; hall be entitled to enter upon, take possession cf rise: manage the Property. zsd to collect thr rents rif
<br />the. Property incfukling those past due. Any reTy.s collected by Lendec „i• Joe receiver shall be. al.)st,•cd first to paprert of
<br />the costs of mard2:� tent of the Property and en0petion of cents, i�5 :ir :t ns, but not limited to, receiver's fv.s, premiums
<br />on receiver's bonds and reasonable attorneys' fees. and ilia* do t"tr �! .:ms secured by this instrument.
<br />15. Upon payment of all sums secured by this instrument, Lender shad request Trustee to reconvey the Props: rty.arxl shall
<br />surrender this instrument and all notes evidencing debt secured by this'instrument to Trustee. Trustee shall reconvey the
<br />Property without warranty and, without charge to the person or persons legally entitled to it. Such person or person9 shall'
<br />pay any recordation costs.
<br />16. Lender. at its option, may from time to time remove Trustee znd, a 7point a successor trustee to any Trustee app? lr., a! :
<br />hereunder by an intrument recorded in the county in which the s, - ,- wwritkv is recorded. Without c��_*.leyance of the Property.
<br />the successor trustee shall succeed to all the title, power and A utis 1 aferred upon Trustee hereL,7 a.td by applicable law.
<br />-,wet requests that copies of the notices of deizij s+_t: is talc; rte <ent to Borrower's
<br />18. If one or More riders are executed by &irrower and with this instrument, the vnvuriants and agreetrcal.:
<br />of each such rider shall be incorporated into) and shall amer+d ,:Lnd supplement the covenants and agrmmvr 2 of this instm,7,t e
<br />as if the ridcr(s) were a patt of this instrum�.M
<br />19. The covenants herein contained shall aid r; r, h? nerits and advantages shall inure zal. ;;etc respective her>~s..c.z-
<br />ecutors, administrators, successors, and assigns of6a hereto. Whenever used. the singular number shall- include the
<br />plural, the plural the singular, arid the use of any:gt: &4 Doll include, all genders.
<br />Va;o 3 of ", r orm NUQ- 92113 -DT Rov 098 01-P!
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