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<br />_. 102990
<br />made shall b ddc
<br />e a `%1 it% the principal %full ow u114 on the abo%c
<br />note, shall be secured hcreb%, and shall bear interest at the rate set
<br />forth in the said note, until paid.
<br />''. Thcr the Borrower hereh% assigns, transfer. and sets et c t ;t
<br />the Lvwn, to he applied toward Ole payment of the ncs;e
<br />sums, secured h:aebk in :a %e of a s ,_%ujI in till:
<br />ar'� sr the' icriiis and conditions t,f tills mslr 1.nt :rut tar; cite s,.sil
<br />;Mile rents, re%cnuc, and irt�,nte to he du- .e,( :rum the
<br />said premises during such true ,i, the indebtedness shall remain
<br />unpaid, and the I ender shall ha%e pt,xte, 1st ,lppolnt arts agent or
<br />a,cnh it may desire r,r the purpose of r.pairing %aid prentr %es and
<br />of renting the same and a1lk,tutr file rent,, rc%enue% and iri,onic.
<br />and it may pas out ill ,aid in,•mics ell rwl•cn 1st rCp,unne .aid
<br />premises and necc %s '1r% „ltunu „Isms ,uJ Cspen,e, nl,urred in lrnl
<br />nlg and managurr the +alni .illd t,I ,,,Ileaul: rrn1,11, Ih:rrirl m.
<br />the h.11ali,t• 1011.11111111 . ” .111, „ ht• ,I , •I ,
<br />I l 1 '•1,,.1',11 1; .I,,,tl.oii
<br />of ,,nJ ua!rI1R•Jnc,t
<br />x 111.11 ill, 11,,;h.,%it ,%,1' I,,p 111.' 11- 11,1..•.ir. :i :"•
<br />rr IIere.,fIIr ire,, ;tl I,n it;e 11r,g1,• :% u.,ult,l .1, :.;,1% 1•e I ;tlu,r ;d
<br />Inns un1, h, filliv I,% Lc I tr.,ler .tt•.ul,•, h: : r, and oahcl
<br />h,u,ndt. „nu,Jhr, .111.1 I,1n1u :r : :,lc, 111 ,u,h .In„•t.111, and for ,11,11
<br />1letatds ,1, 111'1% he ie,fuut•.1 ht the 1 elder al:,! Its!; pa% pn,llpi:%.
<br />WWII Jut. sun plemninr, ill, %,r,ir in,:ir nl,, ; r,1%I, :t1n i.1, p,l%nienr
<br />.0 MilOr hen 11,11 been made hel :ulhrr• r: 1L' nl,ulancc ,flail t•C
<br />:arned In ,ompanly% ,gsprrt%ed ht. lite i ruder and the pohcle, an,!
<br />renewal, thereof ,!tall he held ht the I ender nti flaw .11'.
<br />thcrrtu lo%% payahlc %d
<br />gair%C%
<br />u: 1.1W, 0. and lit 1m•r:n a : :rpLrhlr t•:
<br />tile i ender In e%cnt ill lit„ B0Tro%%% :1 %%11l :r•e nrTnledtafe lie: %c
<br />h% mall tit the 1 endel, who may make pro,,, rt 10's it nit vnade
<br />promptly M Ro:rower, and each imuran:c ci,mrany concerrcd .,
<br />1rcrChy allthorlled anJ dircoed it, make pat Ii.elit tl)r such lcs„
<br />duC:Ily it, file I endu tR%Icjd of !o the Rnrrrlt;r.d::d T!tl !under
<br />Iomtly, and the ur,uran,e proceed,, or an% par, !hs=rrf_ ina.. ho
<br />af•i. ;tom; is. the i ender at r.% option elth,g ',% -1 :r :CttCaKtn i %1 lift
<br />mdcK- vdt_t:ss hcrcbw %CCurcd or t;. the r ;,lira ^: i or repo :r vI •tl'l.'
<br />proNrt% uainaged. in client %•t icr.n.ii -we t,f Ihn 1!t%Tmitleitr: r
<br />other transter of title to ;ire urur; agco ptoi,err: in esangm%hmcm
<br />of The Indebtedness. se- zatc•d hereh%. all nghf. fa;e ,end Interest tit
<br />the Borren%er in and ru a:1% ulsur.ula puh,1e, l':cl; u: firer ,hall
<br />pass to he p ur,:ha,cr of rr.lnrc•e
<br />9. That a% additional and :tillalelal se,unry for the payment %11
<br />the yore de•scnbed, and all funs ter br,t,tne dac I :71t1Cr tilt% instru-
<br />ment. tilt Borrower herchy a %signs to the 1 ender a.a prt,ta,,
<br />revenues, royalties, rrg!tt% and henctits accnung
<br />i and gas le% %ai p rem:.t'%, %%rth ?he under an± and all 5e Burrower
<br />right ro recene anJ.receipt till the same and apply them to said
<br />uldebt: dress a, well. I`te as after default in Ihc:ondnton% of
<br />this instrument, and rite I ender may demand, -dc for and reco%cr
<br />anx suZh-raymem% a ;en Clue and payahle. but frail not he re-
<br />qufrcif '-3 to do. Thi, a% %icnnlent r% to terminate and becontr null
<br />and %oz&'upon release of this m,irunicnt.
<br />10. That the Borrower %%dl keep the budding% upon mid premises
<br />in Food repair• and neither comrntt nor primp waste upon said
<br />land, nor suffer the %aid prcnuse% to be used for an% unlawful
<br />purpose.
<br />I1. That if the prefimc%, or am part thereof, he :ondemncd
<br />under the power of aliment domairt. ail acquired for a public use.
<br />the damages awarded, the proceeds for the taking of, 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 gi%en to
<br />secure remaining unpaid, are hereby assigned by the Borrower to
<br />the Lender, and shall tie paid forthwith to said Lender to be ap-
<br />plied by the latter on account of the next maturing installments of
<br />Stich indebtedness.
<br />12. The Borrower further agrees that should this instrument and
<br />life note secured hereby not he eligible for insurance under the Na-
<br />tional Housing Act within eight months freer the date hereof
<br />(written statement of any officer of the Depertment of Housing
<br />and Urban De%elopment or authorized a;�eaz.c,'� Ole Secretary of
<br />H ;,a.,mg and Urban De%elopment dare, SLhSej;;ent to the eight
<br />trs,nths' time from the date of this insmirae „z, declining to insure
<br />said note and this mortgage, being deemed olmclusi%e proof of
<br />such incliieibilit%), the Lender or holder of the note may, at its op-
<br />tion, declare all sums secured hereby immediately due and payable.
<br />\orwlthstandulg the foregoing, this option may not be exercised
<br />h% the I ruder or the holder of the note when the ineligibility for
<br />nl%ur,ul,C under the \arronal Housing Act r, due to the Lender's
<br />talhue I,, Ienut the• ntorli!,rge insurance premium to the Depart -
<br />111rn1 t,r 11,111,11. and t rban M%copntent.
<br />t i I hell II 1'” Bon,twrl 1,111% io
<br />make an> payments sit nunnry
<br />`i I'i tl�t ,.111k' he"1111C ,tilt', 111 Iall% its Conform it and comply
<br />•.1 rill ,oll,hllon% or - ilaccruent% contained lit this In%lru-
<br />In;:rr ,1r Hie iwte %%hiji it sCsulc %, then the entire principal stmt
<br />.1•IJ ,I„ r1•cd cuc•le,t ,hall ,r! rn,:c he :ome due and payable, at the
<br />h,t•,v ,.1 'Ile I ender
<br />I ender ,had .:r %e malice to Rortower prior to acceleration
<br />l,'ifil—lig Ihsrr,,%%cl'% breach of any cotenant or agreement in this
<br />u„!•umerlr thus not prior to acceleration under paragraph 12
<br />little,% apphcahle law pro%Ides otherwise). The notice shall specify:
<br />tat the default: till the act•'I?n required to cure t'te default., (t:) a
<br />date. not Ir„ than an days firm the date the u,:t,,ce i, gi%err to
<br />Borrok %et, by which the default must be curd, an (d)'that failure
<br />r,, cure the default on or before the date %pull ?ed in the notice
<br />nia% re,ult in acceleration of the sums sccurcd. by this instrument
<br />and `alt' tat the Property. The notice shall farther inform Borrower
<br />td Cu: right to rem%tatr after ac derrt.on aad the right to bring a
<br />t%; assert the non- C%tsMlly t f s default or any other
<br />drter,se of Borrower to acceleration aad sale. l.e•the default is nor
<br />,urud on or f!ellov< The dwe ,pecitled m 1,C zi.c=ie, Leaflet at its
<br />rphcn may require immediate payment in f;:ll Of all sun's secured
<br />ht ills.. instrument without further demand and may the
<br />po %%er of %ale and an% other remedies permitted by applicable law.
<br />I ender %hall be entitled to collect all expenses incurred in pursuing
<br />the remedies pro%ided in tilt% paragraph 13, __eluding. but not
<br />lunlred to, reasonable attorneys' fees and > o. , of title evidence.
<br />P- the power of sale is in,. eked_ T-us:ee shkL record a notice of
<br />default, in each :orrnt) in which &r,% parT of:, a Property is located
<br />and %hall mail :opie% of such nonce in the t war er prescribed by
<br />applicable Inw toy Borrower and to }he other pr:rsons precribed by
<br />apf>flcable law' -"cr the ["tic required by app:;:able la%w. Trustee
<br />,hall flue public notice of %ale ft,: r!te persons and in the manner
<br />prescribed by appll:able lass. Trus:.ee', %ctthout demand on Bor-
<br />rower, shall sell the Property at p,b'sraucstore to the highest bid-
<br />der at the time and place and under the re-tns designated in the
<br />notice of sale in one or more parce.,•and in any order Trustee
<br />determines. Trustee may postpone sale of all or any parcel of the
<br />Piapert% by public announcement at the time and place of any
<br />pre%!ously scheduled sale. lender or its designee may purchase the
<br />Properry at am sale.
<br />Upon receipt of payment of the price bid. Trustee shall deli%er
<br />to the Purchaser Trustee's deed conveying the Property. The
<br />recitals in the Trustee's deed shall be prima facie e%Ide'nce of The
<br />truth of the statements made therein. Trustee shall apple the pro-
<br />ceeds of the sale in the following order: (a) to all expenses of the
<br />sale, including, but not limited to. Trustee's fees as permitted b%
<br />applicable law and reasonable attorneys' fees. (b) to all sums
<br />secured by this Security instrument. and (c) any excess to the per•
<br />son or persons legally entitled to it.
<br />Pape 3 of 5
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