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<br />_ $9--- 104396
<br />made shall he added to the principal sum piing on the above
<br />note. shall be wured hereby, and shall bear interest at the rate set
<br />forth in the said note, until paid.
<br />7', 'That the Borrower hereby assigns, transfers and sets over to
<br />ft Lender, to be applied toward the payment of the note and all
<br />sums secured hereby in case of a default is the performance of
<br />any of the !errs and conditions of this instrument or the said
<br />note, aft the vents, revenues and income to be derived from the
<br />said premises during such time as the indebtedness shall remain
<br />undid. and the Lender shall have power to appoint any agent or
<br />amts it my desire for the purpose of repairing said premises and
<br />of renting the same and collecting the rents, revenues and income.
<br />and it may pay out of said incomes all expenses of repairing said
<br />premises and necessary commissions and expenses incurred in rent-
<br />ing and niusagirtj the same and of collecting rentals therefrom;
<br />the balance rerairing, if any, to be appl; —A toward the discharge
<br />of said indebtedness.
<br />A. That the Borrower %sill keep the improvements now existing
<br />or hereafter erected on the property, insured as may be required
<br />from time to time by the lender against less by fire and other
<br />hazards, casualties and contingencies in such amounts and for such
<br />periods as may be required by the Lender and w.11 pay promptly.
<br />when due. any premiums on such insurance prmision for payment
<br />of wfiich has not been made hereinbefore. All ufsurame shall he
<br />carried in companies approved by the Lender and the pohoc% and
<br />renewals thereof shalt be held by the Lender and have attached
<br />thereto loss payable clauses in favor of and in form acceptable to
<br />the Lender.' In event of tots Borro$cr wdl gi%c immediate nnuo.
<br />by mar_ to the Lender, who nests make prcxsf at loss if not made
<br />promptly t%y Borrower, and each insurance company concctnM is
<br />hereby authorized and defected to make ra%ment for such lass
<br />directly to the Lemcr ir_,trad •y' to•thr tdorruwCr. attd the Lender
<br />jointly, and the : : ^.isr.A rr: proceeds. ;,r .lay btrr.thra -tif, may be
<br />applied by th; Lende,' 4`. +r, op: eOn s3ihcr to tine reduction ref the
<br />indebtedness tfereby secure, or t„ rive: re,tora►ron or repair of•ihi .-
<br />property damaged. (a C %dnt of fec ;�,osure of this instrument car
<br />other transfer of titer lac mt,rtgagcd property in erunguishmcnt
<br />of the indebtedness wwmd herehy, all right, title and inrcreo %+f
<br />the Borrower in and to atty msuran:c pole.tes then in fnr.c shall
<br />pass to the pur.hascr or grantee
<br />s3'.,Ttkvt as additional and: %iitateral w.urity fur the C,eyntcnt of
<br />ttio+ ,v- described. and all sums to he,.:onre slur tlnjer this imtru-
<br />mcnt. the Borrower hereh3, assigns to the i_enJo-Al pinlits.
<br />revenues, ro ►•aloes, tights and benefits accruing to the Bornmer
<br />under any and all oil and gas leash on said prcn►►,e%. %%uh rile
<br />right to receive and teeeipt for ncc siunc and apply tlicm to tall
<br />indebtedness a% well before as after default in the : onditions ,,I
<br />this instrument, and the I ender may demand. sue for and re.o%rr
<br />any such payment% when due and payaihle, hot shall nor hr rc•
<br />quired so to do. This assignment is to terminate and hei omi' null
<br />and %ells s+pon release of this inatruntcni
<br />10. `I`1 ;at (ire Bunima will kcep the buildings upon said pteint %:•s
<br />,n good r -pair. and neither comma nor Perini .I l jMc upon said
<br />land, not suffer the s.a;i, ,r cniiws (o he us.d i;.a auy uiml,n%(ul
<br />purpose.
<br />11. Thar if the piern;:.v % of .i *c ;, 1',at thcrcol, the .ondenutcd
<br />under the power of iantiwz,-, domain, or a%,awrcd for a public use.
<br />the damages awarded, the pioc"ids for On.- taking of, u+ the sun•
<br />sideratioo for such acquisition, to the rvteot of the full uniount set
<br />McWeOtws upon this instrumenr . vnid the norc %%hick it i% goer, to
<br />serum it.mstlning unpaid, are icicles rs.,l nod by the Ilorrowvr to
<br />the Letsiflei, and shall be paid for:ewtth Rs said l.endcr to be 41.
<br />plied by the latter on aci:ount of the nevi matining trsiallntents of
<br />wch indcbirdtim
<br />12 The BonoiLer further agrees that should this:. instrument and
<br />the note secured hereby not be eligible: for insuratim.'Onder the Na-
<br />tional Housing Act within eight months from the deid hereof
<br />(% %mitten statement of any offices of the DcTartrnent:0t;Rousing
<br />and Urban Development or authorized agent of the St:r_r!uR. of
<br />Housing and Urban Development dated subiecluc:tt;to,itti, ht
<br />months' time from the date of this instrumtm..dtr;iitliiig to insure
<br />said note and this mortgage, being doomed cortatftriv'e, proof of
<br />such ineligibility), the Lender or holder of the ptdte tray. at its op-
<br />tion, declare all sums secured hereby intmeJihroy due and payable -
<br />%otw ithstanding the foregoing, this option tray not be exercised
<br />by the Lender or the holder of the note whr- the ineligibility for
<br />insurance under the National Housing Act is fdiue to the Lender's
<br />failure to remit the mortgage insurance pretltittm,to the Depart-
<br />ment of Housing and Urb: n Devtspmen i .
<br />13. That if the Borrower fails to make any payments bf. money
<br />%s hen the same become due, or failt to Onform to and AmmOfy
<br />%sith any of the conditions or axreenttmiv- contained in this instru-
<br />Ment- or the note whiclkit :!fit arcs, then the entire principal suite
<br />and accru_d interest shill'W:iinm br-anie due and payable, at the
<br />elcaion of the Lender.
<br />Lender shall give notice to Borromr prior to acceleration
<br />folio %sing Borrower's breach of any 4ovetutnt sir agreement in this
<br />ifistruinent (but not prior to ac=!e�ation under paragraph 12
<br />unles, applicable law provide, otherwise). The notice-shall specify:
<br />tai the default. th) the action required to cure the default; (c) a
<br />,late. not less than 30 days from the date the notice is given to
<br />Borrower. My which the default must be cured: and (d) that failure
<br />to cure file default on or befora the date specified in the notice
<br />may result m acceleration of titer rums secured by this instrument
<br />and sale of the Property. "Cne,nimio shall further inform Borrower
<br />of the right to reinstate aftcrkm—!eration and the right to bring a
<br />.:,mfr action to mset.fife ncm- existence of at default or any other
<br />defense at Borrowts:.tv,,r, 4_lcrat2on and sale. If the default is not
<br />cueel on or hefurr•th�datc specified in the notice. Lender at its
<br />option may require immediate payment in full cif all sums sea-ured
<br />ny elite nrstrumrm %wihout, further demand and may invoke tt:r.
<br />t�u%%cn %,f sate and any othiz iemedee; permitted by applicable law.
<br />►.older shall fie errtilltul to c>>lltct all c%penscs incurred in pursuing
<br />the rrrncdir% pna%idW in reels paragraph 13, including, but not
<br />lamte.f to, remonahlr. amaneys' fees and costs of title evidence.
<br />11 the power ui% It is iisco6d. frustee shall record a notice of
<br />110uultnt esc±t.e.,u11141 rn %s huh any part of the Property is located
<br />:anti sdtel) nrnillcopics of such notice in the manner prescribed by
<br />spplic sbir Wiv to•IMirmter and to the other ptrronr, precribed by
<br />sppbi Alrl: Ike. Afto site time retuired by applicable law. Trustee
<br />stftJ) c;'.ce. ruhll, iii3lie.' of sale t%r the persons and set the manner
<br />ftrrr,tYfbciJ by ;,ls ;)!merle la%%, fnastee. without demand on !liar. -•
<br />ro%%er, %helll sell itW.Property at public auction to the highest
<br />der at the time ati%f. ;face rind under the terms designated in
<br />r+(aecz of x+le in ollit W, more parcels and in 1,rder Trustee
<br />deterinmes. "trutrspr ,trpostpone ay p sale of ail;;ir Jr, ' parcel of the '
<br />Property by puFlne innouncemertf at the time and place of any
<br />pletii iJO) sd ieduled sate. !,ender,, (rr its. do ;gnee may purchase the
<br />Ptopv�li iii any Talc.
<br />I p.rn receipt, of va %ntent of the price bid. Trustee shat) deliver
<br />tit the purcha %e:' frir,'tee's deed :untcying the i'roperty. The
<br />rcuu,ki ut• :he Ti;;s(W% decd shall be prima facie csidence tl'.e
<br />tratl', of the statetavii s made therein Trusicc shall apply' the pro-
<br />:-s• of the sale :n the folic +uing older: (a) N all crpenses of the
<br />sale. inducting, title tt;.St lmtited to. Tiustce's fee-i a% permitted by
<br />applicable lai% and reasonable aitorneys' fees; ih) to all sure-,
<br />secured by this sa;ktsay [list iuniolt. and (c) ail; exzcss to the per-
<br />ss+n or ;s^rs;u. legally entitled as +t.
<br />Page 3 of 5 e -� . 4. HUD-921430T
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