|
8g- 1,02605
<br />apply them, to said indebtedness as well before as after default in the cceditions of this ia'anttneat. and the Lander may het
<br />inand, sue for and recover any such payments when due and payable. but shall not be required so to do. This Assign w,nt
<br />is to terminate and become null and void upon release of this instrument.
<br />10. That the Borrower will keel' the :,-,-tangs upor said premises in good repair, and neither cr-mmit nor permit waste
<br />upon said land, nor stiffer the said premises to be used for any unlawful purpose.
<br />11. That if the premises, or any part thereof, be condernred render the power of eminent domain. or acquired for a public
<br />use, the damages awarded. the proceeds for the taking of. or the consi&-ration for such acquisition, to the extent of the full
<br />anwant of indebtedness upon this instrument and the note which it is given to ;cure remaining unpaid, are hereby assigned
<br />by the Burrower to thy: Lender. and shall be paid forthwith to said Lender to tx: applied by the latter on account of the next
<br />maturing installments -�f such in debtedriess.
<br />17. The Borrower further agrees that should this instrument and ill note secured herby nx be eligible for insurance
<br />under the National, Housing AcT within eight months from the date iterrof (wrist a statetne-it of any efftcer of the Department
<br />of Housing and Urban Development or authorized agent of the Secretary of Aousing and Urban Development dated subse-
<br />(Iuent to the eight months' time from the date of this instrument. declining to iasure said note and tt.is :nortgagc, being dccm-
<br />cd conclusive prtwf of such ineligibility). the Lender or holder of the m-4c nay. at its option. declare all sums secured hereby
<br />inunediatcly due and payable. Notwithstanding the foregoing. thi. option may not be exercised by the Lender or the holder
<br />of the note when the ineligibility for insurance under the National Housing Act is due to the Lender's failure to remit trio
<br />mortgage insurance premium to the Department of Housing and Urban Development.
<br />13. That if the Born,wer fails to niad.e any payments of money when the same become due. or fails to conform to and
<br />comply with any of the conditions or agreements contained in this instrument, or the note which it secures, then the entire
<br />princip:d sum and accrued interest shall at once become due and payable, at the electron of the Lender.
<br />Londe= shall rite notice to Borrower prior to acceleration following 8cirr war's breach of any covenant or ague e.ent
<br />in this instrument (but not prior to accelerration under paragraph 12 unlc<s applicable law provides o(hery tse). The notice
<br />shrill specify: (a) the default: (h) the action required to cure the def.ait. (c) a date. not less than 30 days from the date the
<br />tioriicc a given to Borrower, by which the default must be _arch, and (dl :hat (allure to cure the default on or beturc the
<br />date sriccihed in the notice may result in acceleration of the suns serumd by this instrument and sale of the Property. The
<br />notice shall further ilUorn 3,T10vec1 of the right to reinstate after acceleration and the right to bring a cuts t action to assert
<br />the nun - existence of a default or any other defense of Borrower to aixelcration art! sale. if the default is not cured on or
<br />tieforc the date specified in the rn tire. Lender at its onion nay rcuu.rc irlmediatc Payment in full of all sums secured by
<br />this instrument evithout further demand and rw. invokc the po%ucr of laic and any other rcnxxdics permitted by applicable
<br />la.c. 1_cno!cr shall be entit!cd to collect all expenses incuircu in pursuing, tlx rznicdies provided in this paragraph 13. in-
<br />cludine. bat not hnuted to, reasonable attorneys' fees and costs of title evidence.
<br />:. the power of sale in nnvoived. Truster shall, accord a notice cl td. fault in each county in which any par of the Prorrrty
<br />s h rated .ins .had; mail copies o: such notice in the mane era pres.:- el, by appliwb :e taw to l3.)iruwcr arch to the other persons
<br />prescribed b, applicable law. Attcr the time required by applicable law. Trustee shall give public notice of sale to the persons
<br />and in the n. :inner prescribed by applicable law. Trustee, without demand "t)n riot-fod`�'t�`s::aiT�%e,Mthc' Property at mblic
<br />auction to the hi to : `•idder at the time and place and under the terms desijuated in ode mAice of saie in one or more parcel,
<br />and in anv order "hr ustec deterrr,incs. Trustee may postpone sale of all or am; Nrccl-of the Property by public annoancemcnt
<br />at the rim <_ and place of am prcv rouse: scree tiled sale. Leader or ils designee may purchase the Property at any sale.
<br />U, oi: receipt of pavr,cnt of the Price bid. Truster shad( "diver to the purcfwscr Trustee's dced conveying the Property.
<br />The recitals in the rtust,:c,s died shall be priria facie evidence of the truth of the statements made therein. Trustee s`rall
<br />�il`Ply the Proceeds of the sale in the fultow inc order: (a) to all exposes of the ,atc. inciuding, but not limited to. Trustee's
<br />I ees as f,rinitted by applicable lava and reaxinab :e alturiuevs' ;ors. Ili) it) all ants secured b; tors Security Ins,rumem. and
<br />t..) a taros to the Icrsor. or person> legally enrtt!ed to it.
<br />!.l. Upon .icccleralion under paragraph l,3 or abandomnert of ti:e Property. Lender tin pc -son, by ages: or b) judicially
<br />1);-1 ;ited rccciver) shall i entitled to enter upon, Li. x pussesswn of and n)anage the Pr- )pert) and to collect tlx :eau of
<br />the Prolkrt} including those past due. An) rents co!ica.0 by Lcrder or lee receiver shall be appled first to payment of
<br />the costs of management of the: Prolxrty and collection of rcnu, inc:u, :ing but not !inured to. receiver's fees, prctnluttls
<br />on receiver's bonds and reasonable attorneys' fees. and Caen to t.ic sums secured by ::cis instrument.
<br />15 upot-, pa :: ;art tit a!! sums secured bv this vnstrunient. Lender shall request Trrsice to rcconr cy the Property and shall
<br />surrc:id: i this irltrjnitnl and ill :totes cT'idencmg debt secured o) this instrument to Truste_. Trustee shall r onvcy t'e
<br />Property without warranty anti iv thiiu-. charge to the person or persons legally entitled to it. Such person or pe -sons shall
<br />pay any recordation cost..
<br />16. Lender, at its option, may front time to time remove Trustee nerd at-point a successor trustee to any Trustts: appointed
<br />hcreun :der by all iiarurnent recorded iii. the co_rty in which this instrament is recorded. Without conveyance of the ?ruxrty.
<br />tic successor trustee shall succeed to ail the .itic. power and duties conferred upon Trustee herela end by aopiicabl, law.
<br />17. Lorruwer requests that copies of the notices of default and sale N: w r.; t Borrower's address which is the Property
<br />Address.
<br />18, If one or more riders are executed by Borrower and recorded togeticr w i6i this ins!^anr_n :, the and agreements
<br />a !t such rider shalt be incor orated into and shall amenid and supplement the covenants and agreements of this instrumrcnt
<br />as i, the riders) were: a part of this instrument.
<br />19. The covenants herein contained shall bind, and the beneuu and advantages shaL inure to, the respective heir. ex-
<br />ecutors, administrators, successor;, and assigns of the part'es hereto. Whenever used, th.: singular number shall include the
<br />plural, ,`ie p';ir3l the sing,aar, and dye use of any gender shall include all genders.
<br />- — form HUD - 92141 -0T Rev. 2109 0LPt
<br />?aye) 2 of 4 -_ -- -- -
<br />
|