|
9--�
<br />104381 , t.
<br />made hall be d&M to the principal sum tming on the above
<br />12. The Borrower funhet agrees that Ehctulo this instrurent and
<br />hereby not be eligible F& insurance under the Na-
<br />taote. shall be- siecured hereby, and shall bear interest at the rate set
<br />the note secured
<br />uonal Housing Act within eight motttlih from. the date hereof
<br />r ftmh.in the said note, until paid.
<br />(written statement of any officer of tdld i trrtenTOf Housing
<br />1
<br />1 7;: That the Henow'er hereby assigns, transfers and sets over to
<br />and Urban Uevetopment or authvriwo Ago. t d1.3biz- smetAty oft .. ' . =
<br />Homing and Urban Mvefapannt. ctAi'esf �tthit�t�t(t ii W- ie ei&
<br />the Lender. to fx applied (award the payment of the note and all
<br />sums secured hereby in case of a default in the performance of
<br />months' time from,the date of this: ittt?tvAt u.:dtf ijtgij to insure
<br />s.Qid this Xttorta>ls. befnf s�iaetnrtd'.uubelgr3 ±y(tioof of
<br />any of the terms rind conditions of this instrument or the said
<br />the rents. revbrtues and income to be derived from the
<br />-note anti
<br />$etth inrligipil(1w to the Lender Of hplslt r of:Rht amts "ntay, at its op-
<br />note, all
<br />sald premises during such time 35 the indebtedness shall remain
<br />Titnr,;dedga all sums secured hereby- atnmotately clue am payable.
<br />tvatwlthsranding the foregoing, this OMI- In'may not be exercised
<br />unpaid. and the Lender shall have power to appoint any agent or
<br />it may desire for the purpose of repairing said premises and
<br />by the Lender or the holder of the tsote when the ineligibility for ti
<br />sgents
<br />of renting the same and collecting the rents, revenues and income,
<br />in�uiance under the National. Housing Act is due to the Lender's
<br />(•tllure the mortggga imutance premium to the Depart-
<br />and it may pay out of said incomes 211 expenses of repairing said
<br />tennises and necessary commissions and capenses incurred in rent-
<br />to remit
<br />of Mauling and Urban ICVvttyyitteAt•
<br />bill pad marttaging the same and of collecting rentals therefrom;
<br />the balance remaining, if any, to be applied toward the discharge
<br />13. That if the Bul!Mwur .fttilt: ttr•ttttr$t; anl! pa }mints of money
<br />iifien the.same become duli_lorfails'td coriftitmIatf anti comply
<br />of said indebtedness.
<br />ttiith any of the condit%rlikot agreements caiifttitfi4igi-this instna
<br />g. That the Borrower wilt keep the iritFrw.ements not♦ existing
<br />' be required
<br />ment, or the note ahiah.it secures, then the entito principal sum
<br />and accrued interest shall at once become due and payable. at the
<br />or hereafter erected on the property, insured as may
<br />from time to time by rl:c Lender against loss by fire and other
<br />election of the Lender.
<br />hazards, casuait ft 4:s tw-mingencies in such amounts and for such
<br />as mai be r:rEg;: ivd by the Lender and will pay promptly,
<br />Lender shall give notjcs to Borrower prior to acceleration
<br />periods
<br />when due, =3t l.:m on such insurance provision for payment
<br />following Borrower's breach of any covenant or agreement in this
<br />instrument (but not to acceleration under paragraph 12
<br />of which has a hereinbefore. All insurance shall be
<br />rz;iricf in corapiaies acv .nf by the Lender and the policies and
<br />p6ot
<br />unless applicable law provides otherwise). The notice shall specify:
<br />the default: (b) the. action required to cure the default; a
<br />r.%. mw,;Zs thereof` shall ber l vl t-y the Lender and have attached
<br />u lass?- 3`�k clauses in favor of and in form acceptable to
<br />!a)
<br />n t
<br />date, not less tfxm 30 daus. from the date the notice is given to
<br />Borrower, try ivhif.`lt'•i7a 4e qult must be cured; and (d) that failure
<br />the Lender. 1�>e Vgnt of loss Borrower immediate notice
<br />t;�; wail .o rlhc !>mder, who *tay make rr o f of loss if not made
<br />ti-=i
<br />to cure the default en: "zx- b0cire the date specified in. the notice
<br />ptl- by '6ibv.der, and: aada insurance company concerned is
<br />i:t+erieliy authorized and direct make payment for roe.& loss
<br />may result in:.-saslet: f {ih qj the sums secured by tJis instrument
<br />and sale r✓f` • s'ropertj:' fie notice �fiall further inform Borrower,
<br />:•_ ,;.
<br />.0
<br />directly to the Lender instead of to the Borrower and the Lender
<br />thereof, may be
<br />of the rig1:Yr to Mnstatc- after accelenirizz. and the right to bring a
<br />.Quit activr':,� assert the non existet:: c a default or any other
<br />jointly. and OT insurance proceeds, or any part
<br />applied by tLo Lender at its option either to the reduction of the
<br />L-an
<br />+,i<_fense of Borrower to accaeration and sale. if the default is not
<br />before the c�Ye•s^ecificd in the notice, Ltndar at im
<br />indebtedness secured or to the restoration or repair of the
<br />instrument or
<br />: ,--,ed on or
<br />option may require immediate payrrmsi in full of all sums secured
<br />property damaged. In event of foreclosure of this
<br />transfer of title to the mortgaged property in extinguishment
<br />ty this ir,,,Vrr, -tent without further demand and may invoke the
<br />other
<br />of the indebtedness secured hereby, all right, title and interest of
<br />the Borrower in and to any insurance.; -Iu :es then in force shall
<br />power of ;.).alk:. and any other remedies permitted by applicable law.
<br />Lender shat; be entitled :,a collect all expenses incurred in pursuing
<br />pass to the purchaser or grantee.
<br />the remedies provided, is:Ihis paragraph 13, including. but not
<br />limited to, reasonable a,:orncys' fees and costs of title evidence.
<br />9. "That as additional and collateral teeririty for the payment of
<br />described, and all sums to become due u:Tder this utstru
<br />If the power of sate is invoked. Trustee shall record a notice of
<br />the note
<br />ment. the Borrower hereby assigns to t!:_: Lender all profits,
<br />to
<br />default in each county in which any part of the Property is located
<br />by
<br />revenues, royalties. rights and benefits �g3;rost)g to the Borrower
<br />under any and all oil and gas leases on prenmes, with the
<br />and shall mail copies of such notice in the manner t4 scribed
<br />applhable law to Borrower and to the other person,!; pt'ccribed by
<br />right to receive and receipt for the same :�;tii apply them to said
<br />applicable Lt%. After the time required by applica,'itr saw. Trustee
<br />indebtedness as well before as after default in the conditions of
<br />the lender may demand, sue for and resover
<br />shall gist public notice of sale to the persons and in the manner
<br />prescribed by applicable law. Trustee, without demand on Borg
<br />this instrument, and
<br />any such payments when due and payable, bill shall not he re-
<br />rower. shall sell the Property at public auction to the highest 6N,41, ,
<br />dei the time and and under the terms designated in the
<br />quired so to do. This assignment is to trr.ninatc and become null
<br />and void upon release of this instrumcnti .
<br />at place
<br />notice of sale in cite or mare parcels and in any order Trustee
<br />detcrminc,>, TrusteeinAy presstpune sale of all or any parcel of tit: ,
<br />ya altar the Borrower will keep the buildings upon said premises
<br />rrs.,coel. repair, and neither commit nor permit waste upon said
<br />Propett> i;. public announcement w: the time and place of atrl'
<br />previously schedukd sale. (.ender or',ts designee may purchasz•tre
<br />1a7d`. my nifYtt the said premises to be u,.ed for any unlawful
<br />Property at any sale.
<br />pry"
<br />Upon receipt of payment of the price bid. 'trustee shall deliver
<br />11. That if the premises. or any part thereof, he anulentned
<br />domain. or acquired ft..;, a. public use.
<br />to the purchaser Trustee's deed conveying the Property. The
<br />recitals in- tl:c Trustee's deed shall be prima facie evidence of .rla-.
<br />isttider the pouter of eminent
<br />t)te damages awarded. the proceeds for the taking ,O., �a: the con•
<br />:iii: of
<br />truth art the statentcnty made therein. Trustee shall apply the,i;tt7•
<br />ceeds of the sale in thc.foBowing order: (a) to all expenses of
<br />sidemtion fill, vs xh acquisition, to the exi,ent of the amount
<br />indebted, -Vi5,.tit;on this instrument andAh ncta wlt;C it is given io sale, including, but nut. limited to. Trustee's fees is. permitted r ;y
<br />secure rarasi:7ing unpaid, arg itrreby nst:(ki,:•cd by d;16Rcrto%er c*,.'
<br />be ;104• forthwith to said Land4r,'ta be tip-
<br />applicable law and rea:rnwble attorneys' fees; (b) ?� all sum.,,- ,
<br />secured by this Security Instrument; and (c) any er, :ess to the 1 :m.-
<br />the Leader. and shall P
<br />plied by the latter on accoL .t of the next maiurir4jo.t `;tllments of
<br />son or persons legally entitled to iti
<br />such indebtedness.
<br />Page 3 of 5 HM92119DT
<br />e
<br />!1,
<br />U
<br />
|