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<br />104288
<br />event of lac Borrower will give immediate notice by mail to the
<br />any of the conditions or agreements contained in this instrument. or
<br />Leader, who nay nuke proof of low if not made promptly by
<br />the note which it secures, then the entire principal sum and accrued
<br />Borrower, and each inwraox company concerned is hereby
<br />interest shall at once become due and payable. at the election of the
<br />aulhorited and directed to matte payment for such Iota directly to
<br />Leader.
<br />the Lender instead of to the Borrower and the [.ender jointly. and
<br />'the inaunum proceeds, or any pan tbereof. my be applied by the
<br />Leader shall give notice to Borrower prior to acceleration
<br />Lo&r at its aiption eitber to the reduction of the indebtedness
<br />following Borrower's breach of any covenant or agreement in this
<br />betoby, secured or to the restoration or repair of the property
<br />instrument (but not prior to acceleration under paragraph 12 unless
<br />lout pi: In event of foreclosure of this instrumnt or other transfer
<br />applicable law provides otherwise). The notice shall specify: (a) the
<br />of tilt- ;;the mortpged properly in extinguishment of the
<br />default; (b) the action required to cure the default; (c) a date, not less
<br />indebtedness secured hereby. all rigbt, title and interest of the
<br />than 30 days from the date the notice is given to Borrower. by which
<br />Borrower in and to any insurance policies then in force shall pass to
<br />the default must be cured; and (d) that - failure to cure the default on
<br />the purchaser or grantee.
<br />or before the date specified in the notice may result in acceleration
<br />of the sums secured by this instrument and sate of the Property: The
<br />9 That as additional and collateral security for the payment of the
<br />notice shalt further inform Borrower of the right to reinstate after
<br />note described. and all sums to become due under this instrument,
<br />acc&rriirin a§dO.4e right to bring a court action to assert the -non-
<br />tie Borrower hereby assigns to the Lender all profits. revenues,
<br />exisrew&1,i114 fault of any other defense of Borrower to .
<br />royalties. rights and benefits amming to the Borrower under any and
<br />acce**5m -% sate. If the default is not cured on or heronthe date
<br />all a7 and ps leases on said premises, with the right to receive and
<br />specified= ��e.utcYtiar . Lender at its option may require immediate
<br />receipt for the name and apply them to said indebtedness as well
<br />payment in 1 7L vfi 0 ums secured by this instiment without
<br />before as WUr default its the conditkins, of this instrument, and the
<br />fur Wtiemand•2:71 may invoke the power of We and any other
<br />Lender mxy:tlentand.'�c cfor and recover any such payments when
<br />retrAdf srefraitted by applicable law. Lender shall be entitled to
<br />due and Fttyabie. but shsa;l not he required so to do. This assignment
<br />colk4t, a expenses incurred in pursuing the remedies provided in
<br />is to tecrrtir.;zte and become null and void upon release of this
<br />this paragraph 13. including, but not limited to. reasonable
<br />anti:,
<br />attomeys' foes ward cysts of title evidence.
<br />10. i]rat the Borrower will keep the buildings totem said premises
<br />If Vie; Twe. ot <Ae is invoked. Trustee shall record a notice of 1
<br />in good repair, and neither commit nor permit wioxe upon said land,
<br />defsWi in each aunty in which any part of the Property is [pealed ;,.
<br />not suffer the said premises to be used for any unlawful purpose.
<br />and shall mail c7. m of such notice in the manner prescribed by
<br />law ,ji Farower and to the other persons prescribed by
<br />I ! . That if the premises, or any pan thereof. be condemned under
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<br />applicable law. After the time required by applicable law. Trustee
<br />the power of eminent domain, or acquired for a public use, the
<br />shall VP,11- public melee of sale to the persons and in the manner
<br />damages awarded, the proceeds for the taking of, or the
<br />prewrr" by applicable law. Trustee, without demand on Borrower.
<br />consideration for such acquisition, to the extent of the full amount of
<br />shaltrdu the property at public auction to the highest bidder at the
<br />indebtedness upon ibis instrument and the note which it is given to
<br />time and place and under the terms designated in the notice of sale
<br />secure remainiag unpaid, ace hereby assigned by the Borrower to the
<br />in one or more parcels and in any order Trustee determines. Trustee
<br />Lender. and stall be paid forthwith to said lender to be applW -, ►sy.
<br />may pr>stprxw sale of all or any parcel of the Property by pubht.
<br />Are tatter on account of the next maturing installments of such
<br />anaramrment at the time and play of any previously schedt&A-
<br />indebtedness.
<br />stir: t m;ltr or its designee may purchase the Properly at an_uWtr.
<br />12. The Borrower further agrees that should this instrument. swig
<br />Upon receipt of payment of the price bid, Trustee shall deliver to
<br />the now sauured hereby not be clgtbk for insurance under the
<br />the purchaser Trustee's deed conveying the Property. The recitals in
<br />Natioadtl; fh3using Act within eight months from the date hewyk
<br />the Trustee's dad shall be prima facie evidence of the truth of the
<br />(wmxten a ltement of :ny officer of the Llepanrttest .of 11uusIag Y LI
<br />statements made therein. Try, tee shall apply the proceeds of the sale
<br />Urban Development, ,w, awi}iborued agent of the 5rxreta1y of ""using
<br />in the following order: (a) to all expenses of the sale. including, but
<br />and Uctttwe EDevelopi q Rated subtreyrtem to the eight months' tutee
<br />trot limited to, Trustee's fees as permitted by applicable law and '}
<br />from Ole dale(- of thK imtrumem, del viang to insure said note and,
<br />reasonable attorneys f€xs; (b) to all sums secured by this Security �-
<br />this rndirlggge. being deemed conclusive proof of such inetagibilito,%
<br />Instroment; and tc) any excess to the person ter perscros legally,
<br />the Lender or holder of the note may, at its optiaue. declare all sums
<br />ea:ct?i d, to it.
<br />secured hereby immediately due and payable. Ncew,3thstanding the
<br />foregoing, this option may not be exercised by the Lender or the
<br />ire. upon acceleration under paragraph 13 or abandonment of the
<br />holder of the note when the indtVWt,.4 for insurance under the.
<br />Property. Lender (in person, by agent or by judic',itlly appointed
<br />National Housiag Act is due to the ltxtulcr's failure to remit the
<br />receiver) shall be entitled to enter upon. take ponaession of and
<br />mor4M imurance premium to the T.krpartment of Housing and
<br />man* the Property and to collect the reran of ck Property
<br />Urban Development.
<br />in litfi.t +,g those past due. Any rents collected by Lender or t.3ur.
<br />reprs•,trr +hall be apoied first to payment of the costs of titsnjigement
<br />13. That if the Borrower fails to make any payments of money,
<br />of the Property and collection of rents. incltAt , llut rat r:mited to.
<br />when tie ion become due, or faik to cotifurm to and comply mt&
<br />receiver's fees, premiums on receiver's bonds gad reasonable
<br />atta -�ey's fees, and then to the sums secured by this instrument.
<br />-Peas
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