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<br />made shall be added to the principal sum owing on the ahote
<br />mote, shall be secured hereby, and shall bear interest at the rate set
<br />forth in the said note, until paid.
<br />P. That the Borrower hereby- assigns, transfers and sets over to
<br />the Lender, to be applied toward the payment of the note and all
<br />sums secured hereby in case of a default in the performance of -
<br />any of the terms and conditions of this instrument or the said
<br />note, all the rents, revenues and income to be derived from the
<br />said premises during such time as the indebtedness shall remain
<br />unpaid, and the lender shall have power to appoint any agent or
<br />agents it may desire for the purpose of repairing said premises and
<br />of renting the same and collecting the rents, revenues and income,
<br />and it may pay out of said incomes all expenses of repairing said
<br />premises and necessary commission. and expenses incurred in rent-
<br />mg and managing the same and of collecting rentafs therefrom:
<br />balance remaining, if any. to be applied toteard the di, • i :c:
<br />said rdeEtedn� s
<br />77-,zt: Mw B1rc V-'2j: Jko: <r the iinp : :,l am :s 7%)%t
<br />`a Z!J?e . -fe }�' :; et ?' i atal`c`_ Fill -a. he requir�S
<br />p�.r and other
<br />;, :its, casaa:r:es anu s; s� 4,:ncies iit such a:i;Ja -s and ''for such
<br />'b2 nods. as may be :equ,�-e ley the Lender and vial MG, promptly,
<br />zi•n due. a,"• ,, ^. :^ ra ;..- on such insurance pro%kior, for payment
<br />c :•'t�; `-.:. j=,�r: -ace hereinbeforc.:111 insurance shall be
<br />r..7-Od 1, cn approved by the lender and the policies and
<br />vz5 -ewah nc.reof shall he held by the Lender and have attached
<br />thereto loss payable clauses in fa%or of and in form acceptable to
<br />the Lender, In evetlt of loss llmiower will ei%c immediate notice
<br />b% mail to the Lender, who ntay make proof fit ICK% if riot made
<br />promptly by Borrower. end each ul,mance soulpany concerned 1,
<br />herchy aurhorzed and due.tr,l ,, ol.th: i,,ument till welt It's,
<br />dlrcoli, ill the I endcl Nestead of to fftr li0110,3 r ,old the 1 cudct
<br />Ioultl%. ens the w,utali,c pn,.a,1•. „t ,ur. ra: r Ihcrc„ t. 111,1% i,,•
<br />atq +lira bt, the I ender it if, ,y,11„11 elthul to iLe n•,I11.n,,n „ t !tic
<br />llidcbrcthlc„ here(% sr,'Itid o1 :,, the 1e t ,i.pL,r. t.l reh,nr Of thr
<br />propem damaged lu c%ent of tore,lo,tlrc u: Ito. ui,rru11lcut „ 1
<br />utlicl Ilatlstcr 111 title its the Illulit!,111cd ploliut% 111 l• \Illliairilllllcllt
<br />(if the mtlehfec(nes se%.ured )IClelt%. ,ill flEhf, title and tntere•st of
<br />the Borrower iu and to tits ul%uranta: puhcics flrea 111 force shall
<br />,la- is lite purchat+er tit rianice
<br />9. that as additional ana ,ollaleral security for the patnlent of
<br />the note tiescrihed, anti all ,ems t„ hecorile lint. ender tilts nlsttlr
<br />menl, the llorrowvt hcre•h) a.sslpns to the Lendet all pt„ttts.
<br />lctemles. ro)alne,, rights and bencht, accruing to the Iorrower
<br />under ant and all nil and pats lea,cs ,sit said premises. with the
<br />right to recent: and recept for the ,ante• and apply them to ,;rid
<br />indebtedness as well before as atio default in file conditions of
<br />this instrument, and file I older nia% demand, sue foe and reto%er
<br />any %lick paputents when due and payable, hilt shall not he re-
<br />quired so to do. I his as,lgnnlrnt is to lenuntatc and (iconic tr,. '
<br />and void upon release of this instrument.
<br />10. That the Borrower will keep the buildings upon said prenusUs
<br />in good repair, and ncuhcl ,.onunit nor permit waste upon said
<br />land, nor suffer the said prcmt,es fir be used for any unlawful
<br />purpose.
<br />11. ihat if life premises. of ;toy part thereof, he condemned
<br />under the power of ennnent domain, or acquired for it public uu,
<br />the damages aw,uded, the proceeds for the taking (if, or the con-
<br />sideration 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 rernainine unpaid, are hereby assigned be the Hotroucr to
<br />the Lender, and shall be paid forthwith to said Lender to be ap-
<br />plied by the latter on account of the next maturing installments of
<br />such indebtedness.
<br />12. The Borrower further agrees that should this instrument and
<br />the note secured hereby not be eligible for' insurance under the Na-
<br />tional Housing Act within eight months from the date hereof
<br />(written statement of any officer of the Department of Housing
<br />and Urban Development or authorized agent of the Secretary of
<br />Housing and Urban Development dated subsequent to the eight
<br />months' time from the date of this instrument, declining to insure
<br />said note and this mortgage, being deemed conclusive proof of
<br />such ineligibility), the Lender or holder of the note may, at its op•
<br />tion. declare all stems secured hereby immediately due and payable.
<br />Notwithstanding the foregoing, this urc :on may not be exercised
<br />by the Lender or the holder of the nc-e when the ineligibility for
<br />insurance tinder the National Housing Act is due to the Lender's
<br />failure to remit the mortgage insurance premium to the Depart-
<br />ment of Housing and -,1,111 Deveopment.
<br />13. 'IF Tu :4.f the fa ;l,� to make any payments of mortar
<br />% %h—n or Ldh; tL conform to and cct ply
<br />aV em'.=s cortaino., in this i°tstrtl
<br />secW s, then-the eatire'pr ncipa< sur
<br />a:;: -Uea :... �,� Shat. a- ante become dui chi e a, :hz
<br />Lend_-, s; a!: give notice izv Borrower prior to acceleration
<br />following Borrower', breach of any covenant or agreement in this
<br />instrument (but not prior to acceleration under paragraph 12
<br />unless applicable law provides otherwise). The notice shall specify_
<br />(a) the default; (b) the action required to cure the default: (c) a
<br />date, not less than 30 days from the date the notice is given to
<br />Borrower. by which the default must be cured; and (d) that failure
<br />to cure the default on or before the date specified in the notice
<br />nlay result ill acceleration of the sums secured by this instrument
<br />'Ild ,ale of file Property. The nonce shall further inform Borrower
<br />of 111 %, i :Oit it, rem-t-ae after acceleration and the right to bring a
<br />11! .,,.roll It, ,,,,ell the non- esrstence of a default or any other
<br />,Ieteu,e of itntri-er to aLcelciation and sale. If the &,fault is not
<br />, 111e,.t 011 , : (;;fore the dare specified !n the notice, I ender at it,
<br />ty,tlt,n 111,1% icilime munedi:ue payment in full of all sums secured
<br />ht [Ili, u I'll titilBnr without hirfhrr (fenl,nd and may in%; hw the
<br />Poster of s,ae and any other remedies permitted by applicable law.
<br />1 ender shall he entitled to collect all expenses incurred In pursuing
<br />the remedies lsruvided in this paragraph 13, including, but not
<br />lip uted to. reasonable attorneys' fees and einctc reti •Nils ,.vid.. i.
<br />It the potter of sale is invoked, Trustee shali a noti.c: of
<br />&dallier in each county in which any part of the f>r.c,,zrt) iS located
<br />and shall marl copies of such notice in the rnan• z :, :7:-escribed by
<br />applicable law to forrower and to the other pers; -s precribed by
<br />applicable lass. After the tittle required h) atp� :i: ;e law, Trustee
<br />,hall pity public noticr of sale to tl -: ^c-> a, and in the ma -,n.er
<br />prescribed by applicable law. True". = • :'''•.,tr demand on BL,.-
<br />lower, shall sell the Property at pubit._ , ;lion to the highest bid-
<br />der at the tittle and place and under the terms designated in the
<br />fiotice of sale in one or more parcels and in any order Trustee
<br />deternunes. Trustee may postpone or all or any parcel of the
<br />Property by public announcement. jt :he time and place of at,-.
<br />prc%iously scheduled sale. Lender or :is designee may purchase the
<br />Property at any bale.
<br />Upon receipt of payment of the price bid. Trustee shall delher
<br />to the purchaser Trustee's deed conveying the Property. The
<br />recitals in the "Trustee's deed shall be prima facie etidence of the
<br />truth tut the Statements made therein. Trustee shall app!) the pro -
<br />cccds of the sale in file following order: (a) to all expenses of the
<br />sale, including, but not limited to. Trustee's fees as permitted by
<br />applicable law and reasonable attorneys' fees; (b) to all runts
<br />secured by this Security Instrument; and (c) any excess to the per-
<br />son or persons legally entitled to it.
<br />I':3Lyt 3 d' � NBl'YYS��Q3U•T
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