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<br />made shall be added to the principal sum owing on the above
<br />note, shall be secured hereby , and shall bear interest a: the rate set
<br />forth in the said note. until paid
<br />That the Borrower hereby assigns, transfers and seh o,er to
<br />the Lender, to be applied toward the paytttent of the note and all
<br />sr,ttts wcured hereby in case of a default in the performance of
<br />any of the terms and conditions of this instrument or the said
<br />note, all the rents, re+enues and income to he derived from the
<br />said premises ¢wring such time as the indebtedness shall remain
<br />unpaid, and the Lender shall have power to appoint any agent or
<br />agents it may desire for the purpose of repairing said premises and
<br />of renting tie 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 managing the same and of collecting rentals therefrom;
<br />the balance remaining, if any, to be applied toward the discharge
<br />of said indebwdriess.
<br />S. That the Borrower will keep the Improvements now etisti.ng
<br />or hereafte r 'arcrted on the property, insured as may be required
<br />from titre; .^t djre by the tender against toss by fire and other
<br />hazards, sy, :ties and contingencies in Such amounts and for such
<br />perk -ds as may be required by the !.ender and will pay promptly.
<br />when due. atYv premiur:: ,# %"such insurance pro, mon for payment
<br />of which hat, i71t_ been i :.,iwti, hereinhef.r._ All msuran :e shall be
<br />carried in xit; anies approccd by t`c 'L_tr:=&t and the policies and
<br />renewals thercot shall he held by the Flu -fa r.ars! ha,e attached
<br />thereto loss payable dau>es in favor of an.,, o-w. a.reptabie to
<br />the Lender. in event of loss Horrkmer will -nc °•7r!-dtate notice
<br />by mail to the Lender, ,,ho may make proof of loos of not made
<br />promptly t- }.Borrower. and each msumncc muipany concerned Ls
<br />we z'
<br />hereby atq,: i<cd and diro.:tcd tit Ma3t,e i'•a%ment for such loss
<br />dire,th t_ ik 1icnder lnwtiad ,it io r',c 19ortimer and the l.erd.-
<br />in:ntly, insuran%.e,•n,.eeu,. of ai-sy part thcreof. may be
<br />applied by the tender aS :i.� „ ptnon either to the redu mon or the
<br />indebtedness hereb: sc:tuta or to the restorat:on of teparr of t`?e "
<br />property 'anap.cd- In c,cnt of of rhis insrsmnoit ,.r
<br />ulher trar f's i)f bile it, tilt: mortgaged ;— oterty in
<br />of the and .' !dress sc:utctf hereby, ail oghr, tit!_ and uitrrest of
<br />the Iitw:rower in anti n= an,. insurance p„i:41es !!.,:r it for :c ,h.ili
<br />pa-s to the purchaser tit Eranice .
<br />addition 'it anwt :ollataral s,::tin r,
<br />the mote':?:'! urabcd ..uid Alt ,urn,tohec„u.c. : :. thisinsrru
<br />rnent, the hcrcl, asswmttathr l._::•, �d,.pn,flts.
<br />rcwrnues, :U ?if_.es, r•� :!'",. and benefits J101.11: (?i Nurro„er
<br />under any dJY' d,r . :' :fts9i ,y'- -'' -!w 1Casew on •,ti3 prenii,". „ith the
<br />right to r ::r•. and`feccipt fot tttc;3n;e and apl +ly lhcm to sail
<br />indebted wttAf "LS well before as after .1ntfA : -It in rh_ :ordains of
<br />This, in'dVI i 0111. and the Lender ma,, iiictatand, site for and reco,cr
<br />any such payments when due and patarlc, hilt shall not he re-
<br />quired so to do. This a- uuicut i, TO (cnrtulate artw `;c"ollie null
<br />and void upon rcic,isc of this instrument
<br />10. That t'ne Borrower ,w dl keep the k,utldutgs v;jk -il Bald er a ^,U,f;
<br />in good repair, and neither .onirtlil no: ('craw was :.' upon wa.
<br />land, !tor stiffer the said t+rer,tt,es to hr u,cJ lc.r .hvi. ;url,n,ful
<br />purpose.
<br />11. Tliat if the premses, o:" al". 11--"I tht:reot. he condcnute f
<br />under the pt)-,%-Cr of eminent dolra:°t,. +try acquired for a puhlic
<br />the damages awarded. the proccet!s ixiv the taking of. or the
<br />sideration for such acquisition. to lltic ektcnt of 't C full an:aunt of
<br />indebtedness upon thiti inmrunient and the note it W gtwen ro
<br />secure remaining unpaid: art hereby assigned by Ott Borrower to
<br />the Lender, and shall be paid tu- :aid Lender to be ap-
<br />plicd by the lsuter on account of tit:• r.4 "ct maturing- insta!Imertt9 of
<br />such indebtedness.
<br />12. The Borrower further agrees that should this instrument and
<br />the note secured hereby not be eligibld for insurance under the Na-
<br />tional Housing Act within eight months from the date hereof
<br />(written statement of any officer of the Department of Housing
<br />and Urban S)ecelopment or authorized agent of the Secretary of
<br />Housing and Urban Development dated subsequent to the eight
<br />months' time from the date of this instrument, declining to insure
<br />said note and t his marta.,^e. hang deemett conclusive proof of
<br />such ineligibility}, the Lender or holder of the note may, at its op-
<br />tion, declare all sums secured hereby immediately due and payable.
<br />`:otwithuanding !fit foregoing, tl-.i, option may not be exercised
<br />by the Lender or the holder of the note when the ineligibility for
<br />insurance under the National Housing Act is due to the Lender's
<br />failure to remit the mortgage insurance premium to the Depart-
<br />ment of Housing and Urban Deveopmenl.
<br />I?. That if the Borrower fails to make any payments of money
<br />when the same become due, or fails to conform to and comply
<br />unh anv of the conditions or agreements contained in this instru-,
<br />merit, or the note which it secures, theft the entire principal sum
<br />and acctued interest shall at once become due and payable. at the
<br />ele:tion of the Lender.
<br />Lender shall give notice to Borrower prior to acceleration
<br />foliouing Borrower's breach of any covenant or agreement in this
<br />instrument (but not prior to acceleration under paragraph 12
<br />unless applicable law provides otherwise). The rratice shall specify:
<br />(at the default: (b)'the action required to cure On default; (e) a
<br />date, not less than 30 days from the date the notice is given to
<br />florrouer, by ,which the default must be cured; and (d) that failure
<br />ro cure the default on or before the date specified in the notice
<br />ma,, result in acceleration of tilt. sums secured by this instrument
<br />and sale of the Prnpoa:Y:,:"ftic notice shall further inform Borrower
<br />of the right in reinstaur after acceleration and the right to bring a
<br />court xenon to assert the non - existence of a default or any other
<br />dcfcr,c i:f Borrower to acceleration and sale. if the default is not
<br />cued on or before the date specified in the notice. Lender at iota
<br />option may require immediate payment in full of. :u9 sums ux.WO
<br />by this instrument w ;tlrrrut further demand and rtsa.,' invoke the
<br />pumer of sate and •any tither remedies permitted by applicable law.
<br />lender shall be entitled to collect all expenses incurred in pursuing
<br />Ott. remedies provided in this paragraph 13. including, but not
<br />limited to, remonahle attorneys' fttc,.and costs of title evident;.-.
<br />if the power of sale is irvoked, Trustee sh441 tecord a notice of
<br />detaelt in each :,)Linty in which any pan of !lilt. Property is located
<br />and sha f mail copies of such notia.•c in the ntatttler prescribed by
<br />apptr : :Y�!r'l ;au to Borrower and tr,'d ;r, .other persons lire:ribed by
<br />mr•1': afi'',ir: kiw. After the tine red :glfa =W by applicable law, Ttiaatee
<br />shall give public notice of sale to the persu:;..Y, 411114 in the manner
<br />prescribed by applies k!!i; law. Trustee, 1i, !'d nand on Hot -
<br />unwer, shall sell Tile i` = « +7erty at pubhw auction to the highest bid-
<br />der at the time anti place and units: the terms designated in the
<br />notice of sale in one or more panty +: and fn any order Trustee
<br />determines. Trustee may postpori, t_le of. -all ur any parcel of the
<br />Property by publiw announcement a; tb rimer trnd place of any
<br />preuously scheiluled sale I vtldef or as 3:'r +et','t may purchase the
<br />Proretr.V at •ur,�t Talc.
<br />hlit :ey1 n.ceipt of payment of ilia: (rice bid, Trustee shall deliver
<br />to the purchaser t'rustee's deed :at: ;*ins the Property. VX.-
<br />recitjis in -the Tru,tee's deed shall i;,:, pinia faw;tq; rvidence u+ the
<br />r. •..:o ..t t t:.t st Ctenrcnt9 made Truslez, :1:5411 apply iltie pro -
<br />t,ecdv ot•thii sale in the following cl:f.z: la).ta all expense•: Alf the
<br />sate, i ^•,eluding, but not limited Lit. yM,te.'s fees as permitted by
<br />applicable taw and reasonable ailinfi'is'• flea: (b1 to all slims
<br />secured by this Security instrument; weld•!,:) iut�'excess TO the per -
<br />sc,n or persons. tegalty entitled to it.
<br />Page 3 of 5 HU 92143DT
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