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Apply them to said indebtedness as well before as after default in the conditions of this instrument, and the Lender may dc-
<br />nand. sue for and recover any such payments when due and payable, but shall not be required so to do. This assignment
<br />!M is to terminate and become null and void upon release of this instrument.
<br />W
<br />Q Ill. That the Borrower will keep the buildings upon said premises in good repair, and neither commit nor permit waste
<br />CO upon said land. nor suffer the said premises to be used for any unlawful purpose.
<br />V4 11. That if the premises, or any part thereof, be eondetttrtedd 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 indebtMmss upon this instrument and the mote which it is given to secure remaining unpaid, are hereby assigned
<br />by the Borrower to the Lender, and shall W paid forthwith to said Lender to be applied by the latter on account of the next
<br />pouring installments of such indebtedness.
<br />t 12. The Borrower further agrees that should this instrument and the note secured hereby not be eligible for insurance
<br />under the National Housing Act within eight months from the date hereof (writtea stakmeat of any officer of the Deputment
<br />+ of Housing and Urban Development or authorized agent of the Secretary of Hoesigg sad Urban Development dated subsie-
<br />quent to the eight months' time from the dste of this instrument, declining to insure said note and this mortgage, being deem -
<br />ed conclusive proof of such ineligibility), ft Lender or holder of the note may, at its option, declare all stems secured hereby
<br />itatrtt a tety Ow and payable. NotwithstindiAg the foregoing, this option may not be exercised by: the Lender or the holder
<br />of ft dote when the ineligibility for insurattec under the National Housing Act is due to the Lender's -failure to remit the
<br />mortgage insurance premium to the Department of Housing and Urban Development.
<br />13. That if the Borrower fails to make any payments of money when the saute 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 />principal sum and accrued interest shall at once become due and payable, at the election of the Lender.
<br />i
<br />Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement
<br />in this instrument (but not prior to accelerration under paragraph 12 unless applicable law provides otherwise). The notice
<br />I sb*1 specify: (a) the default; (b) the action required to cure the default; (c) a date. not less than 30days from the date the
<br />i tiix*c,c is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the
<br />mate specified in the notice may result in acceleration of the sums secured by this instrument and sale of the Property. The
<br />notice shall fuJ{ther inform Borrower of the: right to reinstate after acceleration and the rightw,tdng a court action to assert
<br />' the iron- existence of a default or any otffer defense of Borrower to acceleration and sale. If tits default is not cured on or
<br />before the date specified in the notice. Lender at its option may require immediate paymau; m full of all sums secured by
<br />this instrument without further demand and may invoke the power of sale and any other remedies pemitted by applicable
<br />= =taw: -i.rroer-snaii oEerrtiUM for collect _4a1 _lMrrW in -
<br />c�tpebses pursuing true rtniodtes proitfAed -lit this piiragraph_I3. tn-
<br />eluding, but not limited to. reasonable atirarueys' fees and costs of title evidence.
<br />7
<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 applicablA law. Trustee. without demand on Borrower, r,Itull sell the
<br />auction to the hi b' P party a public
<br />highest rdder at the time aitd place and under the terms ifes'��;!�1(trteeioeoiralle in one of more parcels
<br />wid in any order Trustee determines. Trustee may postpone sale of all or any ps :oft re Property'by public announcement
<br />at the time and place of any previomtjr, scheduled sale. Lender or its desis"Volmay purchase the Property at any sale.
<br />Upon rcce�t of payment of the pifk r bid. Trustee shall deliver to the purchaser Trustaiilr* deed conveying the Property.
<br />T4o recitals in the Trustee% ..,deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall
<br />aWy the proceeds of the k4 in .the following order: (a) to all expenses of the sale, including, but not limited to, Trustee's
<br />fees as permitted by applicable law and im=iable attorneys' fees; (b) to all -sums secured by this Security Instrument; and
<br />(c) any excess to the person or persogs,leplly entitled to it.
<br />14. Upon acceleration utt*t .paragraph 13 or abandonment of the Property, Eplider (in rson. b
<br />pe y agotttt or by judicially
<br />appointed receiver) shall I* entitled to enter upon, take possession of and manage the Property and to, aAxi the rents of
<br />the Property including those' past due '.Apy rents collected by Lender or the receiver shall be applied firsi to payment of
<br />the costs of management of the Property, and collection of rents, including, but not limited to, receiver's. foes. premiums
<br />op receiver's Glenda and reasonable attiirereys' fees, and then to the sums secured by this instrument.
<br />;!;lS. Upon payment of all sums secured by this instrument, Lender shall request Trustee to reconvey the Property and shall
<br />surrender this instrument and all notes evidencing debt secured by this instrument to Trustee. Trustee shall ieconvey the
<br />Property without warranty and without charge to the person or persons legally entitled to it. Such person or persons shall
<br />pay any recordation costs.
<br />16. Lender, at its option, may from time to time remove Trustee and appoint a successor trustee to any Trustee appointed
<br />hereunder by an intrumew recorded in the county in which this instrument is recorded. Without conveyance of the Property,
<br />the successm trustee "I succeed to all 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 />19. If one or more ridersare executed by Burrower and recorded together with this instrument, the covenants arxi agwenients
<br />of each such rider "I be incorporated into and shall amend and supplement the covenants and agreementss, of this in%trument r•
<br />as if the rider(s) were a part of this instrument.
<br />!g. The'_ %verat:ls herein contained %hull bitt:l. arA the benefits and advantages shall inure t:,, the respective heirs, ca r. -
<br />ecutors, adminiurattirs, srxcessors, anrii assigns of the parties hereto. Whenever used, the singular numher shall include the
<br />plural, the plural the singular, and die use of any geiKler %►tall include all genders
<br />P*fP 3 014 r-•um NU0692143 -OT tufty ; ;nfl fit Pi
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