89103326 - Laserfiche WebLink

Browse

event of Iota Borrower will give irrtntedatc nodee by mail to the I*Oder. w%, may make proof of Iotr if not made promptly by Borrower, awes each iasuraaoe conpasy CDOX" ed is hereby suthariaad wad directed so make payment k e such loos directly to Mt Leadrf instead of to the Borrower ad the Leader jointly, and The iaar✓.ttnce proceeds, or MY part ftrA may be applied br the Lcoder at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property darsopd. h event of kwoclarure of this inurument or other tmwkt of lido to the mortgaged properly in extittguishment of the indebiedun nemed hereby. all right, title and interest of the Borrower in and to any iruuranm policirs then in force shall pan to the ps dmm or graNw. 9 That as additional and collateral security for the payment of the now described. and all turns to become due under this instrument. the Borrower hereby amigns to the !.ender all profits, revenues, royakim righb and benefits accruing to the Borrower under any and all oil and ps leans on said prentisea, wish the right to receive and receipt for the scale and aWy thew tier rand indebtedness as well beWte as alter defWA. in, ik cwAtibw,of this instrument, and the leader may dra wA, s+re for and rtixner any such payment% when due and payable trot shall not be required: so to do. This assignment is to Wrmisste and Meotne null and volt! upon rdeasr of this itntrtdmm. 10. That the Borrower will keep the buddisp upon said premises in good repair. and neither commit am permit waste upon said land, not wfkr ft said pnewis s to be used4b r say unlawful purpose. 11. That if the prneitaa, at nay part Metre[ be condemned under dab power of eminent donna n or acquired for a publk use, the wasip awarded, the proceeds for the tatting of. or the OwAiderstim fist web a cgWeition. to the extent of the full amount of indebtedness von this inatrument and the acre w" it is given to were remm rig unpaidi are hereby aoWW by the Borrower to the Lender, and shall be paid bnkwkb to said Lender to be applied by the latter on a000uat of the wit mmur* installments of such, idebiedsm. 12. The 6=, wen further agrees that should this iratrumeet and the note seemed hereby oat be eligible for insurance under the Natioesi Houasing Act wid m eight months from the date hereof +(wtiaeu staMOtnent of any officer of the Department of Housing and Urban Deaei'i pro or authorized agent of the Secretary of Housing and Urban Deveiopnsew dated submquest to the eight eroaths' time !rose the deft of this wArumestt. declaring to insure said note and this tinoetp qM beiag deaesad cmuedas+ive proof of such ie ftbility), die Lander or holder of die • note way. st its option. declare all sums anxstd bran* ientsdistely due and payable. Notwithstanding the goregoing, r8ias t* ioe may ace be exenated by the Lender or the haVa of tit Boat who the ineligibility for insurance under the i►tNttional Homiag Act is dike ±do the Leader's fitilure to remit the wsranoe preaiWU to the Department of Housing and ��• 13.1W d lk Borrower &* to make say psymests of motley w6 a the Umb beware duc;. or fans to confirm to and comply with r any of this conditiont. cv agreements contained in this instrument, or the aoie whh-h it s(xvdim then the entire principal sum and accrued interest shall at amw become due and payable. at the election of the Lem a. LendcT shall give notice to Borrower prior to acceleration Mlowing &mower'& bmsc-h of any covenant or agreement in this isOmment (but sat prior to acceleration under paragraph 12 unless applicable lour pmvidrs oftiw rte). The notice shall specify: (a) the default; (b)-ft action required to cure the default; (c) a date, not less than 30 days front the date the notice is given to Borrower, by which the debull must be cured; sad (d) that Ware to cure the default on or btdore the date specified in the notice may MIA in acceleration of the sutra sewread by this instrument and sale of the Property. The notice: shall further Mom Borrower of the right to reinstate after acceleration and the right to bring a court action to anent the non - esistetice of a default or any other defense of BortoWer to somletstion and sale. If the default is not cured mot. before the date specified in the nr rim, Leader at its option may immediate payment in full of all sum secured bX this instrument without further demand and may invoke the power of sale and say other remedies permitted by applicable law. lender shalt Rt4 enfided to collect all expenses incurred in pursuing the remei$improvided in this paragraph 13. including, but not limited to, remmable attorneys' foes and costs of tide evidence. If the power of sale is invoked, Trustee shall record, a notice of default in each county in which any part of the Pt6*v islatxted and shall nail copies of such notice in the manner pcmribed by applkv) be law to Borrower and to the other perm prescribed by app6mblk law. After the time required by applicable law, Trome shalt give public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall sell the Property at public auction to the highest budder at the time and plats and under the terms designated in the native of sale in one or mom ponds and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public aanounceateat at the time and place of any previously scheduled m4. j ender ov iLQ dKit1!!r' �+�� .�i,��. the Pit?* dYty at gay =I Upon receipt of payment of the price bid, Trustee shall deliver to the punslhaser Trustee's deed conveying the Property. The recitals in the Trustee's deed d Wl be proses facie evidence of the truo of (he stalesomb made therein. TrnWee shall apply the Vm=cdi of the sale in the following order: (a) to all expenses of the sale* �7udii. but not limited to. Trustee's fetes as permitted by applic" law and reasonable attorneys' fen; (b) to all sums secured by this Security lesgrumom and (c) any excess to the person or penoft legally eetided ta,it. 14. Upon acceleration under paragraph 13 or aotdoaatent of the Property:,. Deader (in person, by spot or by jdtoially appoisied reoeivea) %kWI he entitled to enter uponjuke pom aaioan of and message tk Property and to collect tom' MM of the Property Wading (bee past due. Any rent collected by Lender or the receiver shall be applied first to payawat of the a)aft of management of the Property and collection of tents, isdudiog, bat not limited to. recenvees fets, premiums on receiver's bode no reasonable allon xy s fear, and then to the a m-mured by this instrument. PaW 3 on S AN -1 `, rye. • �. R