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made stall tz added to the principal sum owing on the above
<br />note, shall be secured hereby. and shall bear interest at the'wte set
<br />forth in the said note: until paid.
<br />7. That the Bcwrowcr hereby assigns, transfers and sets over to
<br />the Lawler. to be applied toward the paymen of the note and all
<br />semi secured hereby in case of a default in the performance of
<br />city Me Tem am - irtons o t 1i instrument or the sa
<br />1100.0 th'e rents, ret,•enues and incense to be derived from the
<br />SW premises during such tin4e as the in"t4nness shall remain
<br />unp aid; acid the 11.400 Shall have power to appoint any agem or
<br />arm it easy desire for the purpose of repairing said premises and
<br />of hustings the same and collecting the rents. roenues and income.
<br />and it MAY pay oat of said incomes all expenses of repairing said
<br />premises and necessary commissions and expenses incurred in rent -
<br />ing and rnartagi y the same and of collecting rentals therefrom;
<br />the balance remaining. if any, to be applied toward the diwharge
<br />of said indebredress.
<br />8. That the HorraWer Will LtCP the improvements now existing
<br />Or Witaftet erected on the property, insured as may be required
<br />from rr•,u to time by the Lender against toss by fire and other
<br />halAktdi. casualties and contingencies in such arnounts and for such
<br />pt nods 4> stay be required by the Lender and w9l pay promptly,
<br />when due, any ,Premiums on such insurance provision for payment
<br />of W.hivh has 1101 MM made hereinbefore. All insurance shall be
<br />;c;iwxz*d in commies 4Wosr$ by the Lender and the policies and
<br />rextmals thereof shail be held tv$ the Lender and have attached
<br />thereto loss pat)abk clauses in favor of and in form acceptable to
<br />the Lender. In event of toss Borrower Will give immediate notice
<br />by mail to the tender. who may make proof of Iciss if rat made
<br />promptly by H4rrewer, and each insurance company ;ey conc�d is
<br />"rfie?ey authorized and directed to make payment for stale. .:
<br />WV� to the 1.crider in +read of to the fsortoucr and t'.i- I'_.mder
<br />and rt;t,G1ssrance Prcticed,, it.- any vart thereof. may he
<br />ti;�Ued by the Lxj,%$`r at its ornon either it) fizz reduction of the
<br />o,, ,�ttdness hetei%- secured or to the restmWiun or repair :if the
<br />V:;rr., m) damaged. In event of foreciosure at this instrument ar
<br />e,-, ylnr transfer of tithe :o ti he mctr3;tgcd priipcity tit cutinguiftient
<br />of the indebtedness wured hereby. at! rigi:r.' rile and interc5r of
<br />the Horrower in and to any rrnur.incc pnl :, :cr ; ;!ten ;n for :c shall
<br />pass to the purchaser or grantre.
<br />4� That as additional and :oNateral •c:ura% for she .St,omcut of
<br />the Ic lr desatbed, and all sui�i+tit i,r, ;wae (fuc un,fe: l.k.r.'tns'tru
<br />merit, the Ro!rewer hereby aseagm. tit the t meter .11t
<br />rntm:rs. rtryalt>'4 fights and fvnefitti ,: ri mg To the i3otrriaer
<br />under am and M ,vd and 9, '% lease+ on said ;xtrntwi., W nh the
<br />rr jtl�• by teems aiio te.:ctpt fill the +amc and apply them u) +aid
<br />nhklf tedness at. well before ii; .a; ter default in the condition+ it
<br />this instrument, and the I t svittt: may demand. sine for and receiver
<br />any such pa >incnts when !lvv,. d pavat�te. but ,di.tll 11111 be rc
<br />quired so to du. Th.. a + +igtnincnt t+ tit tclinnixe aitJ tici.amic null
<br />and soid upon rttcase'ot shii instrument.
<br />i:'iJha. the bortowri Atli 1eep the buildings ulwin t;aaj f`.ri'mtcc+
<br />sn' t�ctd repair, and netitter cornlmt 1111r perniu: Na5lc nill'n -ald
<br />fand nor stiffer the s :red pleni,ves us N u,ed ter ally un►aWtul
<br />Purpose
<br />34: That tf the proov.,., .�r any part therecif, be co;ndennteJ
<br />uniRF the power of eminent ..kvnairt, or acquired for a public u,,/,,
<br />04; taitnages awarded, the pretirtdi for the taking of, or the coti.
<br />side.stion for such acquisition, to the ei,terit vtf the full amount r,f
<br />it4ebtednms upon this insuanne»t acid Ole gc4o?,whtch it w given to
<br />Wiif+: remaining unpaid, ate hejtby ass:grmf•b) the licirrow•er to
<br />1fW' 1 ;+taker. and shall Ise raid fonh%ah to said Lender io br ap-
<br />ilf lxi-?,y rho tatter tin account v..f the itett maturing insLillrtrit3lts of
<br />su"' i.ttdei+tedne+s.
<br />12. The harrower funlier alffts that should this insrrument and
<br />the note secured hereby not beeligibk for insurance under the Na-
<br />tional Housing Act within eight months from the dite hereof
<br />(written smemem of any officer of the Department of.Houft
<br />and Urban l?evelopmml of Authorized agent of the Smvtaty of
<br />Housing and Urban DEvelopntertt dated subsequent to the eight
<br />months' time from tlhe.datte of this inurlime izzim to nom. —
<br />said note this mortgage. being deemed conclusive proof of
<br />such ineligibility), the Lender or holder of the note may, at its op
<br />Lion. declare all sums secured hereby immediately due and payable.
<br />Notwithstanding the foresoing, this option may not be exercind
<br />by the Lender or the hostels of the note when the ine!ip'biW for
<br />insurance under the N&Ik teal Housing An is dire to the ImWees
<br />failure to remit the mortgage insurance premium to the (Depart-
<br />ment of Housing and Urban Deveopment.
<br />13. That if the Horrost,tr fails to make any payments of money
<br />when the same become due. or fails to conform to and comply
<br />with any of the conditions or agrcements contained in this instru-
<br />mem, or the mote which it secures. then the entire principal suns
<br />and accrued interest shalt at once become due and payable. at the
<br />election of the Lender.
<br />Lender shall give notice ccs''%rrower prior to acceleration
<br />tcilowing i3orrower's hrtach of any covenant or agreement in this
<br />instrument (buy not prior fo'�ccekration under paragraph 12
<br />unlecc aprR =W')aw PiOvides otherwise). The notice shah specify:
<br />(a) the dead: t:;; ii�st'the action required to cure the default; (c) a
<br />date, not less t-Wn )0 days from the date the notice is given to
<br />R rrower, by which the default must be cured; and (d) that failure
<br />.at,,cure she default on or before the date specified in the agtice
<br />May result in acceleration of the sums secured by this k=umert
<br />and sate of the Property. The notice shall further informs 19etia`stii,
<br />of the right to reinstate aftct• :acceferattbn and the right .l>5.1;s,'ii'
<br />irk ^, action to assert the :1i.+a .Wstence of a defauir
<br />i31.'-fmie of Wrickwer to ao;eteratron and sale. If the dr(itct f is nc±r.:;
<br />;=r.d on or tvfvre the dat"pecified in the notice. Lender at its
<br />option may tr1Q1,4!e immediate payment in full of all sums secured
<br />by this instrun: without further demand and may invoke the
<br />power of sak arwl any other remedies permitted by applicable law.
<br />Lender shall be entitled to collect all expenses incurred in pursuing
<br />the remedies provided in this paragraph 13. including, but not
<br />limned to, reasonable attorneys' fees and costs of title evidence.
<br />If the pacer of sale Is invoked. Trustee shalt record a notice of
<br />default in each county in which any pan of the Property is located
<br />and shall mail copies cif suFb notice in the manner prescribed by
<br />applicable taw to Rorro*fv- aild to the other persons prtscibed by
<br />apph ;able law. After the tr�ons:cequired by applicable law. Trustee
<br />shall give pti; ;1i,, INI-lice of WC to the persons and in the manner
<br />rrewrihrd by oup ;;icabk law. Trustee, without demand on Hoe -
<br />rower, shall self the Ptoperty, at public auction to the highest bid -
<br />*r at the time and pkuv and under the terms designated in the
<br />notice of sale in one or more parcels ana in any order Trustee
<br />detnmines. Trustee may nn PACOe gale r„f'ilh or any pace! of the
<br />Property by public announcement at !hv flaw and place of any
<br />previously schedultd sale. Lender or its ,lesignee stay purchase the
<br />Property at any sale,
<br />ttlxjn receipt of payment of the price bid. Trustee shall deliver
<br />to the purchawx Trustee's decd conveying the Property. The
<br />inalals in the 1'attvt. -c's deed shall be prima facie evidence of lire
<br />truth of the staltnients made therein. Trustee shall apply the pro-
<br />ceeds of the site in the foliowing order: (al to all expenses of the
<br />sale. including, in,? not Birth ei7 to. Trustee's fees as permitted by
<br />arPlicable lave mid reasonable attorreys' fees; tbt to all stints
<br />secured by this Sc.:urity Ins ;turwit: arva. (A any e►ce -s to rhr per_
<br />sun or prr-Ami tr.Nally entitled to it.
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