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Pape 3 of 5 HU04214107
<br />L.. L .J
<br />L
<br />V.
<br />89-104818
<br />r made shall be added to the principal suit: owing can the above
<br />p The Borrower funther agrees that should this instrument and
<br />note, shall be secured hereby, and shall bear interest at the rata set.::
<br />the note secured hereby not be eligible for insurance under the Na.
<br />forth in the said rote, until paid.
<br />` *nW Housing Act within eight months from the date hereof
<br />twiritten statetnent of any officer of the Department of Housing
<br />7. That the Dixtow•er hereby assigns. transfers and sets over tit
<br />and !Urban Development or authorized agert.of the Secretaty'o€
<br />the Lender, to be applied toward the pa }"ent of ibe note and all
<br />ngtft auto Urban UneRnpn►eet dated subsequent to the eislu
<br />sums secured hereby in case of a default in the per%srnancr of
<br />rhiopihC tinge from the date of this instrument, declinWS to insure
<br />-'arty of the terms and condWons of this instrument or the said
<br />said note and this monsw. being deemed conclusive proof of
<br />tote. Al the tents, revenues and imcime to be derived from the •
<br />sueb Weigibility). the Lender or holder of the tote tray, at its op-
<br />said premises during such tare as the indebtedness shag remain
<br />dcni tfeMWtgpil!sums secured hereby immediately due and payable.
<br />unpaid, and the Corder shall have mower to appoint any agent or
<br />Motwlthsl:istrihig the foregoing, this option may not be exercised
<br />Writs it may desire for the purpoi&o€ itVairing said premises and
<br />11Y t4 i.eitilkr Of the holder of the note when the ineligibility for
<br />of renting the same and col)ectitt4 if* tarts, m trtues and income,
<br />in attanyx under the National Housing Aet is due to the Lcnder's
<br />and it may pay out of said incomey till: Oprtts a of repairing said
<br />11441116.1 to remit the norttage insurance preatium to the Depart-
<br />premises and necessary commissloris. aid: dx(:it mes incurred in nnit-
<br />meat of Housing and Urban Deveopment.
<br />inn and managing the same and ot- OAleviii.r:nt& thrrefecan:
<br />the h ance remaining. if any. to hegpploi umard the dis. barge
<br />13: That if the- Sarrower fails to make ae c payments of motley
<br />of said indebtedness.
<br />whore the samg Cibiome due. or fails to ce)nform to and w-. ntply
<br />Willi: any of the conditions, oa agreements contained in this instru-
<br />S. That the lbrrower will keep the imM' Vessents new ex's! rig
<br />itti~itt; or the we yilich it wi es, then the entire pried sum
<br />or hereafter erected on the property, tnsumr I•.as may be required
<br />and accrued iritcrost staall at once become due and payable, at the
<br />from time to time by the Lender. aVAinst ]ois<'by fir: and c0ar
<br />election of the tcld .
<br />hazards. casualties and continger om in such. ammir. and for sscti
<br />periods as may be required by the Lender Brut will pav promptly.
<br />Lender shall give notice to Borrower prior to acceleration
<br />when due. any premivass on su:3l..ih�urart,x iavtsitaet fcr payment
<br />' - following Borrower's breach of any covenant or agrevmwi in this
<br />of which has era been made htieirtl7exfere, 1IS."s: insurance shall be
<br />instrument (but not prior to acceleration under paragra;* 12
<br />carded in companies approved by tiaK.P-endsr and Ma politics and
<br />unless applicaliltc%aw provides otherwise). Th: notice shall specify:
<br />' ten irn•,tts thereof shall he held by thc- .ender and have an:tched
<br />(a) the default,: ill :. the action required to cure the default. (c) a
<br />tbertra Sass payable dauws in favd7 of anti in form accep a6ie t6-
<br />date: not less ih�6 30 days from the date the notice is tit m to
<br />the lender. in ewnl of Iixs Borrower %ill g} e' itnrnadiarr notate
<br />Eklaai:siet: by which the d fawuh must be cured, and (0 drat failure
<br />by mail to the /.trader, who may •i:take r" f'(rs less ref not made
<br />to atria the default on or W-iup.:the date specified in Ox-notice
<br />promptly by Borrower. and each insurance twinpanli concemed e,
<br />may result in aceklerareort'a3 tJsx sums secured by this instrument
<br />hereby authorised and directed r* retake payment for such lim
<br />and sale of the. F*%,perty. The notice shall further inform Borrower
<br />directly to the Lender instead esf rat the Burrtiover and the tender
<br />r_
<br />of the right to reinstate after acceleration and the right to bring a •
<br />Jointly. and the insurarwe prmwds, or any par. theri:cr, map be
<br />court action to assert the non - existence of a default or any other
<br />applied by the Lender at its option either to the n :Suw:on al the
<br />defense of Borrower to acceleration and sale. If the default is not
<br />indebtedness hereby .geared or to the munation are tarair of the
<br />cured on or before the date specified in the notice. Lender at its
<br />property damaged. In ei tnt of fim"losnJp: of chi!- uts;rument or
<br />option may require immediate payment in full of all sums secured
<br />other,. transfer of title to the niortg;aged pr�.tperq in txtitigAtRhment
<br />by this instrument without further demand and may invoke the
<br />of tF R' id5r,�ebtedneSS secured hereby. all right., utle and innttara of
<br />the *5iM er in and to in G)ute
<br />power of sale and any wher remedies paninrd by applicable law. t.
<br />any insurance policieil ilimi shall
<br />I -ender shall be entitled to collect all expec3 Incurred in pursuing
<br />pi4st We t4:c purchaser or grantee.
<br />tltc rz'medith provided in th,•n: pq"graph 13, including, but not
<br />'10fW to, reasonable attornc,)V fm and costs of title evidence.
<br />5'. chat as additional and colluter4l sccuutf for the v iynrcni of
<br />the note described, and all sunti, to becOMC duC under this instru•
<br />'11' the power of gale is irvoked, Trustee shall record a notice of
<br />ment. the Borrower hereby assures to flit* Lender all profits,
<br />d04:81 in each :aunty in which any Part of the Properrs is located'
<br />revenues, royalties. rights and benefits aerniong iwthe Borrower
<br />Ud *,4WI mail copies of such notice in the manner prews*ik d by
<br />under any and all oil and gee; least,• no f,:gid pnxroifes. with the
<br />applicable law to 13crrrower and to the other persons prieriheid by
<br />right to receive and receipt far the saute iand,a {iplt them to said
<br />atsrlirehle law. After the time required by applicable taw, Trustee
<br />indebtedness as Mtil before as atfte- delauh In the cunditivitts of
<br />shall give public notice of bale to the periling; and in the manner
<br />Lender thiw..5iwtrument, and the may demand. sue! fur anti 1- cm rr
<br />prescribed by applicable law. Trustee, x•aft' iow demand on 13or-
<br />z<. "ttuSt payments when due and piyabte. Fu? sJtistl. rc7 lk rc-
<br />rover, shall sell the Property at public auet:on to the highest bid-
<br />qussld so to do. This assignment is to mininath'i_ud heroine null
<br />daft at the time and place and, under the terms designataf• in the
<br />and void upon release of this instrument,
<br />niftk*of safe in one or rnore parcels and in any order 17justec
<br />rltntlrinim. Trusite may postpone sale of all or any ;arch of the
<br />10, IMM the Borrower *M keen Ow Euildings upon said premnies
<br />1'; operty by puANic announcement at the tutor and place of any
<br />in floo `'tepsii, and neither commit nor petmif aacte upon saw
<br />pf :iously scheduload seek. Lender or its d&ignet may purchase the
<br />[and. nor suffer the said premises to be imte fear any unla*lut
<br />PstyMny at any sale.
<br />purpose.
<br />Upon receipt of payment of the price bid. Trustee shall deliver
<br />11. Thai if the premises, eat any parr thereof. be condemned
<br />to the purchaser Trustee's deed conveying the Property. The
<br />under the power of eminent domain. ot acquired for a public use,
<br />recitals in the Trustee's deed shat] be prima facie evidence of the
<br />the dates awarded. the proceeds for the taking of, or the con-
<br />truth of the statements made therein. rrus:ee shall apply the pro-
<br />sideration for such aequiiition, to the extent of the full amount of
<br />coeds of the We in the following order: (a) to all eapentsin- of the
<br />indebted". report this instrument and the note which it is given to
<br />safe, including, but not limited to. Trustee's fees as pantnitx2 by
<br />seewe remairttrta unpaid, are hereby assigned by the Burrower to
<br />applicable law and reasonable attorneys' fee%. jh) to all sum,,
<br />The Lender, and shall be pair] forthwith to said Lender to be ap-
<br />secured by this Sec -ority Instrument: and (cl any "cos to the per -
<br />p]ied by the latter on account of the next maturing installments of
<br />wm or perlom legally enritled to it.
<br />such mdebtednem
<br />Pape 3 of 5 HU04214107
<br />L.. L .J
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