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<br />event of loss Borrower will give immediate notice by mail to the
<br />Lender, who may make proof of toss if not made promptly by
<br />'grower, and e*ch insurance comnsnv concerned is hereby
<br />authorized and directed to make payment for such toss directly to
<br />the Lender instead of to the Borrower and the Lender jointly. and
<br />the ifisufance proceeds, or any pan thereof, may be applied by the
<br />Lender at its option either to the reduction of the indebtedness
<br />Lereby secured or to the restoration or repair of the property
<br />ct:srsaged In event of foreclosure of this in.rument or other transfer
<br />of title to the mortgaged property in extinguishment of the
<br />indebtedness secured bereby. all right, title and interest of the
<br />Borrower in and to any insuraurar policies then: in force shall pass to
<br />the purchaser or FJgW; .:
<br />�. 1'��Y�;drlilirsruiE rrt?t� - ;h,( sje^� it t r. jiu ttsr pzty *r„ ref a�tt
<br />9xttili13�?i,11C�r tt;lbrriiciGdct ttrrt:`k'.tCliisit3r'i�i ;Cnt,
<br />tlir: )itrssver hereiay assigiit: nr1lt ender dill prat tk; ;rr�iays.
<br />royaljies, rights and benefts Wan, deg to the Borrower stn any and
<br />all a and gas leases on said premises• with the right to receive and
<br />receipt for the same and apply them to said indebtedness as well
<br />before as after default in the conditions of this instrument, and the
<br />Lender may demand, sue for and recover any such payments when
<br />due and payable, but shall not be required so to do. This assignment
<br />is to terminate and become null and void upon release of this
<br />instrument.
<br />10. That the Borrower will keep the buildings upon said premise%
<br />in good repair, and neither commit nor permit waste upon said land.
<br />nor suffer the said premises to be used for any unlawful purpose.
<br />11. That if the premises, or any part thereof, be condemned under
<br />the power of eminent domain, or acquired for a public use, the
<br />damages awarded. the proceeds for the taking of. or the
<br />consideration for such acquisition, to the extent of the full amount of
<br />indebtedness upon this instrument and the note which it is given to
<br />secure remaining unpaid, are hereby assigned by the Borrower to the
<br />Lender, and shall be paid forthwith to said lender to be applied by
<br />the latter on account of the next maturing installments of such
<br />ivdear:dness.
<br />12. The Borrower further agrees that should this instrument and
<br />the note secured hereby not be eligible for insurance under the
<br />National Housing Act within eight months from the date hereof
<br />(written statement of any officer of the Department of Housing and
<br />Urban Development or actin r_izod agent of the secretacf, u Housing
<br />and Urban Development d4xd subsequent to the eight months* time
<br />from the date of this instrument, declining to insure said note and
<br />this mortgage, being deemed conclusive proof of such ineligibility),
<br />the lender or holder of the note may, at its option, declare all sums
<br />secured hereby immediateli, C,:g and payable. Notwithstanding the
<br />foregoing, this option may :aav be exercised by the tender or the
<br />holder of the note when the iV. -4 ryt iiitp (4 insurance under the
<br />National Housing Act is due Cott lender's failure to remit the
<br />mor,SW insurance premium to the Department of Housing and
<br />Urban Development.
<br />13. That if the Borrower fails to make any payments of money
<br />when the some become due. or fails to conform to and comply with
<br />89.' 104649
<br />any of the conditions or agreements contained in this instrument, or
<br />the note which it secures, then the entire principal sum and accrued
<br />interest shall st once become due and payable. at the election of the
<br />Lender.
<br />Lender shall give notice to Borrower prior to acceleration
<br />following Borrower's breach of any covenant or agreement in this
<br />instrument (but not prior to acceleration under paragraph 12 unless
<br />applicable law provides otherwise). The notice shall specify: (a) the
<br />default: (b) the action required to cure the default; (c) a dale. not less
<br />than 30 days from the date the notice is given to Borrower, by which ;
<br />the default must he cured; a tc13 *htx fa "arc to cure the default on
<br />ur before tLn Speer � CCi`!: a»� z';v result in accceientix° - ,;
<br />ire rl~e s�tt� ism by is s,�ai: ... .
<br />lime shush f &ter inform ar-tiueiz rilft' to re'V tw
<br />a=feraticr ia tote right to bring a +_; to iz4t.the' trQ
<br />existence rE i Mault or any other defsmse4 Borrower to
<br />acceleration arsd sale. if the default is not Lured on or before the date
<br />specified in the notice, Lender at its Option may require immediate
<br />payment in full of all sums secured by this instrument without
<br />further demand and may invoke the power of sale and any other
<br />remedies permitted by applicable law. Lender shall be entitled to
<br />collect all expenses incurred in pursuing the remedies provided in
<br />this paragraph 13, including, but not limited to, reasonable
<br />attorneys' fees and costs of title evidence.
<br />If the power of sale is invoked, Trustee shall record a notice of
<br />default in each county in which any part of the Property is located
<br />and shall mail copies of such notice in the manner prescribed by
<br />applicable law to Borrower and to the other persons prescribed by
<br />applicable law. After the time required by applicable law. Trustee
<br />shall give public notice of sate to the persons and in the manner
<br />prescribed by applicable taw. Trustee, without demand an Borrower,
<br />shall sell the Property at public auction to ft. Ugliest bidder at the
<br />time and place and under the terms deJg,, 3114 4-, the notice of sale
<br />in one or more parcels and in any order Trustee
<br />may postpone sate of all or any parcel of the F ..e public
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<br />a inounceent at the time and place of any p ra�:4u i; �teduled
<br />We. lender or its designee may purchase Ot Property at any sale.
<br />Upon receipt of payment of the price ro'4. Trustee shall deliver rag
<br />the purchaser Trustees deed conveying die Property. The recitals is
<br />the Trustee's deed shall be prima facie evWence of the truth of (he
<br />statements made therein. Trustee shall. al-eply the proceeds of the We
<br />in the foli omi'Ing order: (a) to all expenses of the sale, including, brat°
<br />not IimwnA !,:?, Trustee's fees as permitted by applicable law and
<br />reasonable attorneys' fees; (h) to all sums secured by this Security
<br />Instrument; and (c) any excess to the person or persons legally
<br />entitled to it.
<br />14. Upon acceleration under paragraph 13 or abandonment of the
<br />Property. Lender (in person. by agent or by judicially appointed
<br />receiver) shall be entitled to enter upon, take possession of and
<br />manage the Property and to collect the rents of the Property
<br />including those past due. Any rents collected by Lender or the
<br />receiver shall be applied first to payment of the costs of management
<br />of the Property and collection of rents. including, but not limited to.
<br />recaiveres fees, premiums on receiver's bonds and reasonable
<br />attorney's fees, and then to the gums secured by this instrument.
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