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<br />89..:. 101265 RE-RECORDED 89- 1021936
<br />apply them to said indebtedness as well before as alter default in the conditions of this instrument, and thc: Lender may de-
<br />mand, sue.for and recover any such payments when due and payable, but shall not be required so. to do. This assignment
<br />is to terminate and hecome null and void upon release of this instrument.
<br />10. That the Borrower will keep the buildings upon said premises in good repair, and neither commit nor permit waste
<br />upon said land, nor suffer the said premises to be used for any unlawful purpose.
<br />1. That if the premises. or any pan thereof, be condemned under the power of eminent domain. or acquired for a public
<br />use, the damages awarded. the proceeds for the taking of, or the consideration for such acquisition. to the extent 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 Borrower to the Lender. and shall be paid forthwith to said Lender to be applied by the latter on account of the next
<br />maturing installments of such d At-lbwdness.
<br />12. The Borrower further Agmq that should this instrurttent and the m W secured hereby nqt be eligible f!N insurance
<br />under the National Housing Aci w-itthin eight months frein the date hetmf Zwrittrn stv w ment of any officer of the. Departwitt
<br />of Housiq and, Urban Development or authorized agent of dw Stvrewa ,ott'Hotis -In and Urban Development elated subse-
<br />quent to the eight months' time from the date of this instrument; dechaiM.. it insure said note and this mortgage, being deem-
<br />ed conclusive pmofof such ineligibility). the Lender or holder of the nozl� may, at its option, declare all sums secured hereby
<br />immediately duo and ,}payable. Notwithstanding the foregoing, this option may not tv exercised by the Lender or the holder
<br />of the note when the itteligibitii►r for insurance under the National Housing Act is &c to the Lender's failure to remit the
<br />mortgage insurancv premium to the Department of Housing and Urban Developiiwitt.
<br />13. That if the Borrower fails to make any payments of money when the same Ncome due, or fails to conform to w4
<br />comply with any of the conditions or agreements contained in this instrument, or ilie note which it st cures. then the a 6r&
<br />principal sum and accrued interest shall at once bewime due and payable, at the elution of the Lender.
<br />Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement;
<br />in this instrument (hut not prior to accelerration under paragraph 12 unless applicabW- law provides otherwise). The notice
<br />shall specify: (a) the default. (b) the action required to cure the default; (c) a date. m:% less than 30 days from the date the
<br />notice is given to Borrower, by which the default must K., cured; and (d) that failure to cure the default on or before the
<br />date spei;t> ed in the notice may result in acceleration of tttie sums secured by this instrument and sale of the Property. The
<br />notice shall further inform Borrower of the right to reinma' .W after acceleration and the right to bring a court action to assert
<br />the tun- existence of default or any other defense of 5'Drr1:*er to acceleration and sale. if the default is not cured on or
<br />before the date specified in the notice. Lender at its option inay require immediate payment in full of all suttm secured by
<br />this instrument without further demand and may invoke the power of sale and any other remedies permitted by applicable
<br />law. Lerider shall be viiiidcd iv coiiect ail expenses incurred in pursuing the remedies provided in this paragraph 13, in_"
<br />eluding, but not limited to, reasonable attorneys' fees and costs of title evidence.
<br />If the power of sale in invoked, Trustee shall record a notice of default in each,county in which any part of the Property
<br />is located and shall mail copies of'such notice in the manner prescribed by applicable law to Borrower and to the other persons
<br />prescribed by applicable law. After the time required by applicable law, Trustee shall give public notice of sale to the persons
<br />and in the manner prescribed by applicable taw. Trustee, without demand. on Borrower, shall sell the Property at public
<br />auction to the highest bidder at the time and plaice and under the terms designated in the notice of sale in one or more parcels
<br />and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public announcement
<br />at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at any sale.
<br />Upon receip4 pf. payment of the price bid. Trustee shall deliver to the purchaser Trustee's deed conveying the Property.
<br />The recitals in the Trustee's deed shall be prima facie evidence of ,dt; truth of the statements made therein. Trustee shall
<br />apply the proceeds of the sale is the following order: (a) to all expemt�� of the sale, including. but not limited to. Trustee's
<br />fees as permitted by applicable law and reasonable attorneys' fees; tiyy.ts� all sums secured by this Security Instrument; and
<br />(c) any excess to ft.. person or persons legally entitled to it.
<br />14.. Upon acceleration under paragraph 13 or abandonment of the Property, Lender (in person. by agent or by judicially
<br />appointed, receiver) shall be entitled to enter upon, take possession of and manage the Property and to collect the rents of
<br />the Property including;. those. past due. Any rents collected iaylender or the receiver shall be applied first to payment. of
<br />the costs of manageanecit of.ft'propeny acid collection of rew&,inc3t ling. but not limited to, receiver's fees, premiums
<br />on receiver's bonds and reasonable, attorneys! fees. and there; to -the shads secured :lzy this insfinent.
<br />13. , Hlpon payment of all sums secured by this instrument, Under shaAl request Trustee to reconvey the Property and shall
<br />surrender4his instrument and all notes evidencing debt secured by this ristrument to Trustee. Trustee shall reconvey the
<br />Property. without Warranty and without charge to the person or persa6 legally entitled to it. Such person or persons shall
<br />pay airs) fecordation costs.
<br />16. Lender. at its option, may from time to time remove Trustee and appoint a successor trustee to any Tnzsccc appointed
<br />hereunder by an intrunwrit recorded in the county in which this instrument is recorded. Without cattveyance of the Property,
<br />the successor trustee shall succeed to atG the title, power and duties conferred upon Trustee herein and by applicable law.
<br />17. Borrower requests that copies of the notices of default and sale be sent to Borrower's address which is the Property
<br />Address.
<br />L18. If one or more riders are executed by Borrower and recorded together with this instrument, the covenants and agreements
<br />Of each such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this instrument
<br />W. if the rider(s) were a part of this instrument.
<br />14. The covenants herein ronimned shall bind, and the benefits and advantai;ct. shall inure to, the respective licit %, C%
<br />�r ecutors, administrator;, successors. and assigns of the pjthcy heqo. Whenever tv d, the singular nunther shall niclude the
<br />plural. the plural the singular, and the u,.e of any gender sliAl i4clude all genders
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