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89 -Y 104589
<br />apply them to said indebtedness as well before as after default in the cotiditims of this instrument, and the Lender may de-
<br />mand, sue for and recover any such payments when due and payable, but shalt? WO, be required so to do. This assignment
<br />is to terminate and became nun and void upon release of this instrument.
<br />id. That the Borrower will keep the buildings upon said premises in good t .paip ' and neither commit nor permit waste
<br />upon said land. nor suffer the said premises to be used for any unluwfut purpesa.
<br />11. That if the premises. or any part thereof. be condemned under the power of amincot damidn. or acquired for a public
<br />use, the damages awarded, die proceeds for the taking, of, or the comMera stn. far such acquisitfitit, to the extent of the full
<br />amount of indebtedness upon this instrument and the note which it is given to sure remaining unpaid; are. hereby assigned
<br />by the Borrower to the Lteder. and shall be paid forthwith to said Lender vv i aapplied by the latter on account of the next
<br />maturing installments of such indebtedness.
<br />12. The Borrower further agrees that should this instrument and thk'fi*timured hereby not be eligible for insurance
<br />under the National Housing Act within eight months from the date hereeff'4t4 v.96tetmnt of any officer of the Department:
<br />of lousing and Urban Development or authorized agent of the 5etr+i'ta►y' t(ifitsigrrd Urban Development dated subse-
<br />quent to the eight months' time from the date of this insintment, daclinin� to insure W& note and this mortgage, being deem-
<br />ed conclusive proof of such ineligibility), the Lender or holder of the now tKuy, at its option, deciamall sutras secured heresy:.
<br />immediately due and payable. Notwithsttnding the foregoing, this aptaitt bitty not be exercised,by tfte Lender or the ho1dts
<br />of the note when the ineligibility for insurance under the National -iii Wxi� Act is ruse to the Lciar s failure to remit the
<br />mortgi(re insurance premium to the Department of Housing and .W. Development.
<br />13. `flrlit if the Borrower faits to make any payments of mangy. when: the same become due, or fails to conform to a--4 .
<br />comply with any of the conditions or agreements contained in dtin- innfxiirnent, or the note which it secures, then the entim.- -
<br />princioii. sum and accrued int cost shall at once became due and`gay`able, at the election of the Lender.
<br />Leerier shalt give notice to &ri•rower prior to acceleration! following Borrower's breach of any covenant or agreement
<br />in this hUrument (but not prior to accelerratian under paragraph 12 unless applicable law prorxaies. otherwise). The notice
<br />shall- spi:Lify: (a) the default; (hy the action requin:d 143 cure t)ie default; (c) a date, not less than 30 days from the date the
<br />notice is given to Borrower, by which the default' must tie 6#cd; and (d) that failure to cure the default on or before the
<br />date specified in the notice may result in acceleration rrt' Ov. stims secured by this instrument and sale of the Property. The
<br />notice shall further inform Borower of the right to. reinstair after acx, kration and the right to bring a court action to assert
<br />the non- existencifof a default or any clher*fuase of Borrower to aijxferation and sale. If the default is not cured on or-
<br />before the date specified in the notice. Lendee at, its option may require immediate payment in full of all sums secured by
<br />this in4tlrireni without further demand and may invoke the power of sale and any other remedies permitted by applicable
<br />law. Lender shall be entitled to collect. alli expenses incurred in pursuing the remedies provided in this paragraph 13. in-
<br />cluding, but not limited to, reasonable attorneys' fees and costs of title evidence.
<br />If the power of sale is invoked, 'I'rustec shall record a notice of default in each county in which any part of the Property
<br />is W001 and shall mail copies, of such notice in the rnjanwlixescribcd by applicable taw to Borrower and to the other persons
<br />prescr-keci by applicable law. After the time requ:redl3�,,s cable law. Trustee shall give public notice of We to he persons
<br />and in the manner prescribed by applicable hroo. Trustee: without da". tnd on Borrower. shall sell the Property at pu R'.',i •
<br />auction to the highest bidder at the time and placc and under the tennis iksiSnated in the notice of sale in one or more para�.s
<br />and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public announcement
<br />at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at any sale.
<br />Upon receiln of payment of the price bid, Trustee shall deliver to the purchaser Trustee's dad conveying the Property.
<br />The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements :itiuk therein, Trustee shall
<br />apply the proceeds of the sale in the following order: (ay tar; all expenses of the sale, including, bat; not limiotsil'ro5. Trustee's
<br />fees .w permitted by applicable U,## and reasonable attoet -ys' fees; (b) to all sums secured by this Security L°r mment; and
<br />(c) any excess to the person or persons lqaily entitled to it.
<br />14. Vr,x: a iw.16- ation under paragraph 13 or abandorli, ant of the Property, Lender (in person, by agent or by judicially
<br />appoinfa in!.iei:ver) shall be eratWO4 to enter upon. take;pzwssion of and martagr4w Property and to collect the rents of
<br />the fra*.V including those past due. Any rents colte4*6 try Lender or the receiver shall be applied first to payment of
<br />the costs of management of thee: Property aMi cis llection of rents. including. but not. limited ta, receiver's fees, premiums
<br />on receiver's bonds: and reasonable attocm*s' fees, and then to the sums secured by this intom -tent.
<br />R Jlpon payment of all swums&u. ed by ibis instrument, Lender shall request Tnuuee to reconvey the Property and shall
<br />surrm, &r this instrument ate ail notes evidencing debt secured by this instrument to Trustee. Trustee short`, r*onvey the
<br />Pix�'*.Ity without warranty and without dwtt1a to the person or persons legally entitled to it. Such person or persons 6414
<br />pay _Irty recordation costs.
<br />16. 'hetrder. at its option, may from time to time remove Trustee and appoint a successor trustee to any Trustee appointed -
<br />hereunder by an intrumnM seoorded in the county in which this instrument is recorded. Without conveyance of the Property. ,.
<br />the successor trustee shall succeed to all the title, power and duties conferred upon Trustee herein acrd by applicable law.
<br />17. &xrower requests that copies of the notices of default and sale be sent to Borrower's address which is the Property
<br />Address. "
<br />M If tae or more riders ate envuied by Borrower and recorded together with this instrument, the covenants and agreetnents
<br />of tack mach rider shall be iv�ocprxated into and shall aniend and supplement the covenants and agreements of this instrument _
<br />as if die rider(%) were a plan cif this instrument.
<br />14. The covetarsti: herein ccwairaed %bola bind, and the benefits aril advantages %hail inure to, the rrspcv1ive heirs, e%-
<br />ecuton, and assigns of the parties hereto. Whenever used, the singular number shall include the -
<br />plural. the plural the kinguhr, and the use of any gender shall inctu& all geaideas.
<br />iw� 3}rA � _ - - -- ��e-um itU�- 17ti7.OT ire �1d18 fiti"t
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