89104547 - Laserfiche WebLink

Browse

144547 apply them to said indebtedness as well before as after defsdl in the conditions of this instrument. and the tMa¢er army de- mu d. shine for and recover dory men payments when duc and-payable, but shell not be required so to do. This assiX111rttent is to terminate and become null and void upon release of this Wit. 10. That the Borrower will keep the buildings upon said premises in good repair, and neither commit not permit waste upon said land, nor suffer the said premises to be used for any unlawful purpose. 11. That if the pranises: or any part thereof, be condemned under the power of end domain, or ttcgttirad for a public r use, the da n"a awarded, the proceeds for the taking of, or the consideration for such acquisition, to the extent of the full f amount of indebtedness upon this instrument and the note which it 4 given to secure remaining unpaid. are hereby assigned by the Borrower to the Lender, and shall be paid forthwith to said Lender to be applied by the latter on account of the next maturing installments of such indebtedness. 12. The Borrower ftrther agrees drat should this instrument and Cite maid: secured t-.zreby not be eligible for insurance under the Nadmial Housing Act within eight months from ttte date beraof (written statement of any officer of the Department of Housing_wid Urban Development or authorized agent of the Secretaiy of Housing and Urban Development dated subse- w tbt tic rnor►dts' time from the date of this instrument* declining to insure said dote and this mortgage, being deem- md'caaclwsite o£'eknefr ineligibility), the lender, or holder of the note may, at its option, declare all sums secured hereby int afe; di:: ;i}+t3a e- Notwithstanding the Owing, this option mny;not be exercised by the Lender or the holder of the rat -wi #liw.irmiibility far.insurance uisder the National Housing Act is due to-the Lender's failure "to remit the mortgage in gar pt i"iin to the Department of Housing oitd Urban Development. . 13. That If d16 3erra®n r. fails to make any payments of mangy when the<.wme become due. or fails to conform to and comply with- pj4 rrf.ft.vwWitions or agreements contained in this instnara nt. or the note which it secures, then the entire principal. stuff : iii rued interest "I. at once became due W.. payable. at the election of the Lender. Lender aiiil give mice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this instrument (but>i& prior to accelerration under paragraph 12 unless applicable Taw pro►-i es• otfxerwiw). The notice shall specify; (a) the &8 -i4t; (b) the action required to cute the default; (c) a date, not less than'313_d tys from the date the notice is gisM.,to Boffewpr; by w with: the default must be cured; and (d) that failure. to cure the default on or before ft:,. ' date specifl-rA fns the rage may result in acceleration of the noxis secured by this instrument and sale of the Property. The notice shalt f Either infer borrower of the right to reinstate after aeaeieration and the right to bring a court action to assert the non- existgtrce of a dd4ult or any other defense of Borrower rya uraael tion and sale. if the default is not cured on or before the date specified in the notice. lender at its option tray' require immediate payment in full of all sums secured by, r . this instrutrient without further demand and may invoke the paw•er of sale and any other remedies permitted by.,{.l%able law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraphs 13, in- cluding, but not limited to. reasonable attorneys' fees and costs of title evidence. If the power of sale is invoked. Trustee shall record a notice of default in each county in which any part of the Property is located taid shall mail copies of Saar i- watice in the manner prescribed by applicable law to Borrower and to the other persons prescribed by applicable law. After iS:e time required by applicable Uw. Trditee, shall 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 bidder at the time and place and under the terms designated in the notice of sale in one or more parcels.•, and in my,- 'order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public announcement . at the tiift 'and place of any previously scheduled sate. lender or its design= may purchase the Property at any sale. Upen receipt of payment of the price bid. T-twme shall deliver to the purchaser Trustee's deed cw1veying the Property. The recitals in the Trustee's deWn iftall be prig facie evidence of the truth of the statements riddle therein. Trustee shall apply the proceeds of the sale in t#.arfbtlowing order: (a) to all expenses of the sale. ini ;ti (Dng, but not limited to. Trustee's fees as permitted by applicable law-wad reasonable attorneys fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the *gran or persons legally entitled to it. 14. Upca acceleration under pr ..ahrapin 13 or abandonment of the Propmly, Lender (in person. by agent or by judicially appointed, mcciver) shall be entited: to enter upon. take possession of and manage the Property and to collect the: rents of the Property including those past dw. Any rents collected by Lender, o.`' the receiver shall be applied first to payment of the costs of management of the Property am collection of rents, tnrluding, but not limited to, receiver's fees. premiums on receiver's bonds and reasonable attorneys' fees. and then to ct:e sums secured by this instrument. 15. Upm payn" of all sums secured by this instrument. Lender shall bequest Truster.• to to:'ousrey the Property and shall sntrettder this instrwneat and all notes evidencing debt secured by this instrument to Trustee. Trustee shall teeonvey the 1Ptoperty without warranty and without charge to the person or persons legally entitled to it. Such person or persons shall Pay any records wn costs. 16. Lender. at its option, may from time to time remove Trustee and appoint a successor trustee to any Trustee appointed hereunder by an intrwtnw recrxded in the county in which this instrument is recorded. Without conveyance of the Property. the successor trustee shall succeed to all the title, power and duties conferred upon Tnutce herein and by applwable law. 'ri. v+irrwc;< i'ero"S ihait ct; f,Ks Of $o r.:ei= Of'U •, It Mai &MIC bP c.nt 1n _R-rwrower % tares which is the Property Addreac. Ill. if one or nwwc riders are exaxuted by Borrower and reconled together with this inurument, the covenants and agreements of each roach rider shall be rncarpma ted into Ord shall utnend and supplement the covenants and agreements of this instrument as of the iWert!►1 were a pan of this instrument. 19. 1, he ccncnautts herein contained shall bind. and the hernefits and ad -Muges snail inure tv. the respective heirs, ex autoo'.. adm►niuraturi, successo". and aysrgns of the partim herew Whenever used. the singular number shall inctude the plural, the plural the Sangula. ant the use of any gender shall include all getiders page 3 C44 - ro,rn lkd#2143 ur R% 7;811 CM i