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<br />89. 103295
<br />apply them to said indehictiness as well before as utter default in the conditions of this instrtlntent, and the Lender uuay 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 become 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 />11. That if the premises, or any part 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 indebtedness. 1•
<br />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 (written statement of any officer of the Department
<br />of Housing and Urban Development or authorized agent of the Secretary of Housing and Urban Development dated subse-
<br />quent to the eight months' time from the date of this instrument, declining to insure said note and this mortgage. being deem-
<br />ed conclusive proof of such ineligibility), the Lender or holder of the note may. at its option. declare all sums secured hereby
<br />immediately due and payable. Notwithstanding the foregoing. this 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 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 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 />principal sum and accrued interest shall at once become due and payable, at the election 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 (but not prior to accelerration under paragraph 12 unless applicable law provides otherwise). The notice
<br />shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the
<br />notice is given to Borrower, by ttrhkh the default must be cured; and (d) that failure to cure the default on or before the
<br />date specified in the nothm. niay result in acceleration of the sums secured by this insttutstent and sale of the Property. The
<br />notice shall further inform Borrower of the righg too reinstate after acceleration and the right to bring a court action to assert ;
<br />the non- existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or
<br />before the date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by
<br />this instrument without further demand and may invglce tote bower of sale and any other remedies permitted:by�ppplicable i
<br />law. Lender shall be entitled to collect all 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 applccaKe law-to Borrower and to the other persons
<br />prescribed by applicable law. After the time required by applicable law, Trmwe shall give public notice of sale to the persons
<br />and in the manner pNsFribed by applicable law. Trustee. withouvge'lrm r«ell =the Property at public t
<br />auction to the highest bidder at the time and place and under the tertpSu g ai 'irith� n6iict b�sitie in one or more parcels
<br />and in any order Trustee determines. Trustee may postpone s de of all or illy parcel of the Oropeity by public announcement
<br />at the time and place of any previously scheduled sale. Utied;`r ox its designee may purchase the Property at any sale.
<br />Upon receipt of payment of the price bid„ Trustee shall deliver 'to the purchaser Trustee's deed. ckinveying the Property.
<br />The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall
<br />apply the proceeds of the sale 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 reasonable attorneys' fees; (b) to all sums secured by this Security Instrument; and
<br />(c) any excess to the 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 jgdicially
<br />appointed receiver) shall be entitled to enter upon, take possession of and manage the Property and to collect ihe.rents of
<br />the Property including those past due. Any rents collected by Lender or the receiver shall be applied first to payment of
<br />the costs of management of the Property and collection of rents, including, but not limited to, receiver's fees, premiums
<br />on receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this instrument.
<br />13. 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 reconvey 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. Linder. at its option, may from time to time remove Trustee and appoint a successor trustee to any Trustee appointed _
<br />hereunder by an intrumem recorded in the county in which this instrument is recorded. Without conveyance of the Property.
<br />the successor trustee shall 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 />18. 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 emend and supplement the covenants and agreements of this instrument
<br />as if the rider(cf were a pan of this instrument.
<br />19. The covenant-. herein contained shall hind, and the benefits and advantages shall tnure to. the respective heir,, ex-
<br />,
<br />ecutur,. administrator,, successors, and av igm of the parties heteto Whenever used. the singular number shall Include the �
<br />plural, the plural the singular. and the arse of any gender ,hall mdude all genders
<br />Faso 3 ut 4 r •.,••. 141,10•42143 -nT ties �11119 w III
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