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<br />g G: 1027
<br />madc shall he added to the hrinapa' ,tint mang till the aho%C
<br />note. shall he secured herehs, and shall hear interest at the talc set
<br />torch tit the said note, until paid.
<br />'. That the Borrower hereby assigns, transfers and sets o,cr Ir
<br />the t ender, to he applied nsward the payment of the note and all
<br />sums secured hereby to 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 he denied from the
<br />said premises during such time as the Indebtedness ,hail remain
<br />unpaid, and the 1 ender shall hate poser it, JIM-oini a'ty agent ur
<br />agent% it may desire for the purpose of rcpa :rills :aid Premises and
<br />Of renting the same and collecting the- re"lis, loenues and income.
<br />and it may pay out of said "t-omes all kxpcn%es of repairing said
<br />Premise, rid. necessary ;onunissrons arty expenses incurred In rent.
<br />Ing and mctraring the sank and of c Xllct !rig :cntals therefr,+rn;
<br />;hc balance remainim?. it an), to be de z,!'r,t ;.•u,,trd the discharge
<br />of said n'debtcdnes,
<br />N. that the Borrower will keep the r'npr,,yement, nobs evr.;nrg
<br />or hereafter erected till the property• in,v.red as mats t+c reyultc't1
<br />from time to time by the 1 ender agaiwi 1,)j,. bs 'iw and other
<br />hatard., ;a%ualpe% anti contingenstes to s.:;h : rn�an'•. and Iar inch
<br />t�nuds a, may he required ht the 1 rndrr an4 LOP." <n promptly .
<br />when due. any Premuuns on ,u :h m.ura :,:c r ,,u natal for Paynl%.
<br />, +t whlch has nor beer' made heremhrt,,,r•c 9u , •,w•,,, shall hr
<br />.arned In ct+mpames apprt „cd bs ?tie I e:;,fer an ,C ;tc pt +bete, and
<br />rene„als thereof shall he held by the I ender an.],1 =ay, attached
<br />,hereto toss pa%ablr clau,r, m tau, +r of and m l.17 n ,, :epta
<br />he lender In went of la R
<br />ss ,,rro h l e n
<br />,scr ,sill glue lira cda c n ec
<br />by matt to ,he I ender. tuho may make proof or io ;t near n'ade
<br />prornp:k ht RorrVwrr. and each ul,,It r F;c a +tn, ar.: ;on,etne.i ,.
<br />hereby authtinied and sJnr,•eJ • ”, r:at`t I'aumet :- t,�r su,:h 6•s,
<br />dlrcoh ru+ rile I ender the Borto%,:l al,d the 1 ender
<br />twnth. and the 11,11tiricc•I ?r ,reeds. rI kn, rat! thereof. nia, (•e
<br />applied by the I ender it u, ,q+tit't' erl;c- !,% the reduction rt r!le
<br />indebtedness hereby sCsurcd , +r to the reocr't,an ,+r repair tit trtC
<br />property damaged. In (-gent of tore,;ox re o !i,,.
<br />othel liansfer of title to The mor "gaged j? ;Pei!% in • rytlngimlimeni
<br />Of !t': : ^GtCi•rwiii„ ;i,Uictl i,cicb,.. an '.1!` {;_"I i,C alid Intctc +l of
<br />the Borro,scr In and to alms imurin.r h tar ,h,t11
<br />pass to the purchaser tat urantec
<br />4 That a!t additional anti wilatcr,l ,2:::u;, !. t the pa,lnrni rt
<br />5hc note deskribrd, and all suu,s hr he„ uic ,1,I,- ,m4rr Oil,. ino r.i.
<br />,item, the Borrower hcrchy asstgnstv!Frt• I. endrr
<br />•-eyenues. to }allies, rights and henctt,: Js :r jmg the Bl,rr0%%er
<br />under any and all till and gas Ira,c, rn •.;.•rf prcrlusc,. surll the
<br />right to I"C" ;utd recelPt by the al:ur and apps, them ;,' .,rid
<br />Indebtedness as well before ;I% after default in the cenduion•. of
<br />this Instrument. and the 1 ender may demand. cue for and recos rr
<br />-I-iy such Payments „hen due and ra%abic, but shall o,:I.tje r•,.
<br />,4.vited so to do (his assignment Is t,T ternimait- and'(,; -cunt null
<br />ad void upon release of thl, Instrument
<br />10. That the ROM-er will keep the buildings upon said premises
<br />Ln, good repair, and neither commit nor'permit waste upon said
<br />I'aatd, nor suffer the said premises to be used for anv unlawful
<br />rsirpow
<br />11 That if the Premises, or ans Oirtr 111c:eof, be condemned
<br />under the power of eminent domain.; tic 'a .4utred for a public u,c.
<br />the damages awarded, the O'aceeds fir -ttsetaking of, or the con.
<br />ctdcration for such acquisititm, -'to the ecic�rtt of the fhtl' amount : f
<br />indebtedness upon this instrument and Ithe f (if »bleb it is given to
<br />,mire remaining unpaid, arc hereby assigned by the Borrower te•
<br />the 1 ender, and shall he paid fort hwtih to said Lender to be ap
<br />P "'.ed by the latter on a :court of the ncit maturing initalirrrnlc of
<br />s'_ch indehtednesv
<br />Q the Bor:osscr further agree• that should this instrument and
<br />the note secured heretty not be eligible for insurance under the Na.,
<br />tional Iloll,inl; Ao within eight months front the date hereof
<br />OWttelt statement of any officer of the Department of Housing
<br />and Uthan Development or authorized agent of the Secretary of
<br />Housing, and Lttban Development. dated subsequcnt to the eight
<br />mcvr :;'is' time from the date of this instrument. declining to insure
<br />,ai,t not %and this mortgage, being deemed conclusive proof of
<br />such the Lender or holder of the note may, at its op-
<br />t ion. des kne a!1 .:tilts ,:cured hereby immediately dtte aatd payable.
<br />ti,>nyir,?stanJl nJ ;b". t,Ntet;omg, this option may not be exex4iW #
<br />ht the k Qna" -r ,1117 the holder of the, note when the ineligibility" for
<br />insirra;-r: atl4cf t` g! Nati,,nal Housing Act is due to the Lender's
<br />tailuro its .'entlt :?e :",wrngage insurance premium to the Depart -
<br />inent (1) Housing 2 -71;, lUrban Deveopment.
<br />T V`-X J the Borrower fails to make any payments of me.ney
<br />%sme become due, or faik to conform to and cottply
<br />'•;'I+ an) of the 0ittfuions or agreements contained in this iristru-
<br />niem, or the note which. it secures, then the entiit>v prini;ipai sum
<br />and accrued Interest .!tall at once become due and payab.ic, at the
<br />election of the I ender
<br />1 ender shall glue It.,r,,;r to Borrower prior to acceleration
<br />10110%% Mg Borra,ycr's N,ach of any covenam or agreement in this
<br />mvrument (hut not pror to acceleration under paragraph 12
<br />unless applicable law proytdes otherwise). The notice shall specify.
<br />(:ti) tilt• de' -atilt: iN the action required to cure the default; (c) a
<br />dare, t;o-. 1.r,•s than 10 days from the date the notice is given to
<br />Rorr. suer., i u %%hlch the default must be cured; and (d) that failure
<br />rr ;tire r!re default an or before the date speediest in the notice
<br />n'as 'taint Ill dc.eleratitill of the sums secured by this instrument
<br />and %die -71 the Property. The notice shall further inform Borrower
<br />,•t the r•gl-r Its icimiate after acceleration and the right to bring a
<br />Will- ac1hJII to ds,ert (tie non - existence of a default or any other
<br />,lelt:,r•c of BOM Wer le acceleration and sale. If the default is not
<br />,tired on or before the date specified In the notice. Lender at fts
<br />q,pinin niay require Immediate payment in full of all sums secured
<br />by till!, llb.'"nlent L"hou! f»rthcr de^.'3nd and i.-ay ir,;ukc il,c
<br />power tat: sale and any other remedies permitted by applicable law.
<br />i ender ,hall he entitled to collect as expenses incurred In pursuing
<br />!hr rerucdtes provided in this paragraph 13, including, but no,
<br />Irhtned to. reasonable attorney,.* fees and costs of title evidence.
<br />I•: the taswer of sale Is invoked. Trustee shall record a notice of
<br />default' !n each county in which any pan of the Property is located
<br />and ,hall mall c('Ptes of such notice in the manner prescribed by
<br />-IPPhcab!C law to Borrower and to the other persons precribed by
<br />applicable law After the time required by applicable law, Trustee
<br />.haft gne puhh, notice of sale to the persons and in the manner
<br />prescr'hcd by applicable law. Trustee, without demand on Bor-
<br />rower, shall sell the Property at pub?uc auction to the highest bid-
<br />der at the time and place and under'ihe terms designated in the
<br />notice of sale in one or more parcels and in an) order Trustee
<br />determines. Trustee may Postpone sale of all or any parcel of the
<br />Property by public announcement ar. the time and place of any
<br />Prey iously scheduled sale. t -ender or irs designee may purchase the
<br />Property at any sale.
<br />Upon receipt of Fa,:ry , of the price bid. Trustee shall deliser
<br />to the purchaser Trustee's-4eed cor..veying the Property. The
<br />recitals in the Trustee's deed shall. he prima facie evidence of tL e
<br />truth of the statements made :himein. Trustee shall apply the p..;
<br />teed-, of the sale to the follnwing order. (a) to all expetisn 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 sup.,s
<br />secured by this Secunty Instrument;. and Ic) any excess to the per.
<br />son or persons legally entitled to it.
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