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<br />t). Thai as ad,�i,ortal and :,•flateral ":;UZ_a bur rite t'nsnrent of
<br />:he nntr drsfribed. and all •,an1, to he'tirti0' .:..e un,fel this ui,t, u
<br />11aer•t,thc Borrower flerufty ;i < : :rnstti the Lcnda't cif profit,.
<br />*e+ <W'g:11t�,, royalties, rift[, al:�t ter, :F ;its ac man¢ To the Iformwer
<br />undi:r.any ;ind all oil and ga :. 1r=;Mi Am s ;tld prcrntscs, %kiei: :Ile
<br />right to rciei+c and receipt f.1r 'Inc. same and a ;�)±fy ;kern ro +and
<br />indebtedness as well before at, after default `:t +he corddums of
<br />this instruinent. and the i.cader nt3y drtitai'% ;. ;:(c for and recoscr
<br />any such payments when due and payable, ',,w tr, It raot ( *e re,
<br />quired so to do. This assij!nizrent is to tcrniru.ite :111,1 htc, ;v51 ::u!;
<br />and sold upon release of chi-, m%'- rmncnt.
<br />10. That the ilorrimer Sall keep the buildings uVen said premises
<br />in good repair. and nether 4, 01111111t nor pcintn waste upon sawl
<br />land. 11OUsuffer the said prcnvu cs to Fee used for any anidwful
<br />purpose.
<br />II. That if the ; ; :rinses, tv any pair tier +elaaf, iuc condemned
<br />uttdet the power of cmittent :Ivntatn• of acifW! ci for a public use,
<br />the damages awarded, the pro:eeds for the taking of, or the con•
<br />siderstion for such acquis;tiott, try the extent of the full an +arsunt cif
<br />indeWr_dntss upon this ins(ru.? olf: and the note which it. 4,s tliKen to
<br />secure remaining unpaid, arc "0itf!•/ asslgre±,,by the lion',., ser to
<br />the lender. and s?:;,II be partf .;'rsw:lswith t.�. 1111;9, i';. -,err cis be ap
<br />Plied by the tatter en account aft he nett �iw.1,s < „�i;. :,f;tflments of
<br />such indebtedw”.
<br />asona a attorneys fees and costs of title evidence.
<br />If the )+osier of sale is imoked. 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 presctibed by
<br />'applicable la % to Ilorrowcr atld to the other persons precribed by
<br />:,npli..ahk lays. After the ante required by applicable lave., Trustee
<br />t".•:7 f;isc liubhc nfm.c of sale to the persons and in ilii�-ir(anner
<br />7yr"vrihed fly appAsatile f.i,s. 'frustec, without demand �,ti Bor-
<br />rt""r, sitatf aril the Property at public auction to the highest bid-
<br />der d: the titre and plaice and under the terms designated in the
<br />iles:ice of sale in one or more parcels and in any order Trustee
<br />determines. Iiustee may postpone sale of all or any parcel of the
<br />fruperty by public announwiticnt at the time and place of any
<br />pretinu,l% s,rltcdulyd sale lender or its designee may purchase the
<br />Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee �ha:1 deliver
<br />t;;, the pur:hascr Trustee's decd conveying the Property. 'f' ,,e
<br />nsxrrals in the Trustee's deed shall be prima facie evideskr -,,f tAe
<br />:r�rath nt the statements made therein. Trustee shall apply the pro -
<br />ctrds of the sale in the following order-. (+ )•:o all expenses of the
<br />including, but not litnired to. 'Truvt.�sr's. ees as pettxna. ;;d by
<br />altil:d cabtt law and reasonable an:tirncys' tees; (b) to cif sh ;ws
<br />s,gcttrtd by this Security lasaizatgent; and (c) any excess i& the per-
<br />or persons legally entitled to it.
<br />Pai,•e 3 40, >340421430T
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<br />made shall be added to the principal sum owirsg on the above
<br />12. The Borrower further agrees that should this instrunvent and
<br />Me. shall be secured F.ertby. and shall bear interem at the rate set
<br />forth in the said note, until paid.
<br />the note secured hereby n6t be eligible for insuranm under the Na-
<br />'
<br />tional Housing Act within eight months from the date hereof
<br />%. 'chat the 801rowcr hereby assigns, transfers and .sett over to
<br />(written statement •of any officer of the Department of Housing -
<br />and Urban Devetoptrtent or authorized aWt of the Seer"ry of
<br />the.Lenda, to be applied toward the payment of the note and all
<br />silm& secured hereby_ia Lase roc ;.a io - -
<br />Housing and Urban QevtBo tatat_dated sublet uerte te±.,h. �_. ___, -__ — -- - - -
<br />.;nom
<br />-any of the terms and conditions of this,instrurrtent or the said
<br />mnrttTis trite from the date asf this insttvttwtttt.• dedinino to insure
<br />said note and this mortgage, being deetned.conclusive proof of -
<br />note, all the refits, revenues and utcome to fse derived from the
<br />said pftmises durinff such time as the indebtedrtis�s shall
<br />Sufi ineligibility), the Lender or hokler of the note may, tit its cep.
<br />remain
<br />unpaid, and the Lender shall have power to arVomt any agent or
<br />tiaa, declare all sums secured.hereby immedilftely due and payable,
<br />Notwithstanding the foregoing, this opti`ori triajt..itot be exercised ' —:
<br />agents it tray desire for the purpose of repairing said premises and
<br />of renting the same and collecting the rents, revenues income,
<br />by the Lender or the holier of the note when ilir ittelgibility for
<br />and
<br />and it may pay out of said incomes all expenses of repairing said
<br />insurance under the National Housing Act. it, dati'to the Lender's
<br />failure to remit the mar/gage insurance prernitim-.tWthe Depart -
<br />prem nd iw% a necessary commissions and expenses incurred in rent.
<br />ing and manalimg the same and of collecting rentaIN therefrom;
<br />rnent of Housing and Urban Deseapin ntlt,
<br />the balanIX remaining, if any, to be applied toward the discharge
<br />of said indebted
<br />13. That if the Borrower fails to make•ang 00mettts of money
<br />.m. .
<br />when the same become due, or fail.& to.conforrn,to and comply
<br />R. That the 8ortntitec will keep the iniprovernents now existing
<br />+with any of the conditions, or agreetuanti, Cantnint+cl in this instru-
<br />mint, or the note whitb it sc.• -urea, them tNt eniittn principal sum _
<br />cif hereafter erected on the propetty, insured as may- be required
<br />from time 10 time by the Lender again:* loss bs fire and
<br />and accrued interest shall :al once became due and #Ayabk� at the
<br />other
<br />hazards, casualties and contingemies in such arnounis and for such
<br />election of the Lender.
<br />periods ai inay be required by the ( ender and will pay promptly.
<br />wtsen due, an} premiums on such insurance for
<br />Lender 4mil•givvt notice to Borrower priris t@ a: - eleration
<br />prasision payment
<br />of %hick has not been made hereinheforc. All i:uurame shat: be
<br />following 8onowra's breach of any td, ,erllm fir agreement in this .
<br />iststrument (but not prior to acMerarion andt:T•'pW —A lgpll :IZ
<br />carried 111 companies appm:cd by tttc I.crdur and the poli :sea and
<br />renewals thereof shall be held by the Lender and have
<br />unless applicable h1ty pravidev atherw•fse). T:16 notice fha�f) specify:
<br />atta :hcd
<br />thereto loss payable cfausc' in favor of and in form acccptahte :o
<br />in) the default; (b) the *action requited to ctild %ht' defafif;-(c) a
<br />dzte, not less than 30 days from the daattt the notice is
<br />the Lender. In went of loss Borrower w-dl grse tmntediate ro,.,:c
<br />by mail to the fender, who may make of loss if
<br />given to
<br />D - rower, by which the dcfqult must, Ot c;itiJ. and W. that failure
<br />. proof r,ot trade
<br />Promptly by PlimoiAct. and ca.h iwairan :e company concerned n
<br />crab) authorized direc
<br />uY cure the default on or. Ware the date specified in thir ttcitice
<br />nt2y result in acceltration oUthe Sums secured by this r,mrument
<br />c' and %d to make pa%4ircnt for such logs
<br />Directly to the Lander instead of 13 ;►;e )f:- r,nscr and the 1 ender
<br />,
<br />.ind 4ale of the Proprtt ;-. Tice notice shall further inform Borrower
<br />of the right to reinstate after acceleration
<br />jointly, and the insurance proctvdf , sir are part therruf, may he
<br />apAl;Vd.-bS the Lender at it, yr ^:' sr, either to the reducnott
<br />and the right to bring a
<br />court acnon ill assert the non - existence of a default or any other
<br />of the
<br />indOWMness hereby secured c•i I* .he restoration or repair tit the
<br />defense of florroucr to acceleration and sale. If &.c default is .tot
<br />cured on or before the date specified in the notice. Lender its
<br />property damaged. In event• of tore0osure of ihs. in4lrunicnt or
<br />other transf;r Of title to the nlongaecd u1 itinftuishment
<br />at
<br />option ntay require immediate payment in Nil of 1111 sums secured
<br />proper. a
<br />of the hcrebv, all rrgfa. tit!- anJ interc,t o'
<br />by ills. 1115trunlCnt without further demand and may invoke the
<br />power of sale and any other remedies p+er^n = by applicable law.
<br />tie %.,r rower in, and. to anv iusur,m.c p,llme% then in tk,r,e shall
<br />pa;: ;the purchaser or er,erree.
<br />,�ted
<br />lender shall be entitled to collect all expenses incurred in pursuing
<br />the reuedies prt+vidcd in this Paragraph 13, including, but not
<br />1•11ned to re bt
<br />ii
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<br />t). Thai as ad,�i,ortal and :,•flateral ":;UZ_a bur rite t'nsnrent of
<br />:he nntr drsfribed. and all •,an1, to he'tirti0' .:..e un,fel this ui,t, u
<br />11aer•t,thc Borrower flerufty ;i < : :rnstti the Lcnda't cif profit,.
<br />*e+ <W'g:11t�,, royalties, rift[, al:�t ter, :F ;its ac man¢ To the Iformwer
<br />undi:r.any ;ind all oil and ga :. 1r=;Mi Am s ;tld prcrntscs, %kiei: :Ile
<br />right to rciei+c and receipt f.1r 'Inc. same and a ;�)±fy ;kern ro +and
<br />indebtedness as well before at, after default `:t +he corddums of
<br />this instruinent. and the i.cader nt3y drtitai'% ;. ;:(c for and recoscr
<br />any such payments when due and payable, ',,w tr, It raot ( *e re,
<br />quired so to do. This assij!nizrent is to tcrniru.ite :111,1 htc, ;v51 ::u!;
<br />and sold upon release of chi-, m%'- rmncnt.
<br />10. That the ilorrimer Sall keep the buildings uVen said premises
<br />in good repair. and nether 4, 01111111t nor pcintn waste upon sawl
<br />land. 11OUsuffer the said prcnvu cs to Fee used for any anidwful
<br />purpose.
<br />II. That if the ; ; :rinses, tv any pair tier +elaaf, iuc condemned
<br />uttdet the power of cmittent :Ivntatn• of acifW! ci for a public use,
<br />the damages awarded, the pro:eeds for the taking of, or the con•
<br />siderstion for such acquis;tiott, try the extent of the full an +arsunt cif
<br />indeWr_dntss upon this ins(ru.? olf: and the note which it. 4,s tliKen to
<br />secure remaining unpaid, arc "0itf!•/ asslgre±,,by the lion',., ser to
<br />the lender. and s?:;,II be partf .;'rsw:lswith t.�. 1111;9, i';. -,err cis be ap
<br />Plied by the tatter en account aft he nett �iw.1,s < „�i;. :,f;tflments of
<br />such indebtedw”.
<br />asona a attorneys fees and costs of title evidence.
<br />If the )+osier of sale is imoked. 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 presctibed by
<br />'applicable la % to Ilorrowcr atld to the other persons precribed by
<br />:,npli..ahk lays. After the ante required by applicable lave., Trustee
<br />t".•:7 f;isc liubhc nfm.c of sale to the persons and in ilii�-ir(anner
<br />7yr"vrihed fly appAsatile f.i,s. 'frustec, without demand �,ti Bor-
<br />rt""r, sitatf aril the Property at public auction to the highest bid-
<br />der d: the titre and plaice and under the terms designated in the
<br />iles:ice of sale in one or more parcels and in any order Trustee
<br />determines. Iiustee may postpone sale of all or any parcel of the
<br />fruperty by public announwiticnt at the time and place of any
<br />pretinu,l% s,rltcdulyd sale lender or its designee may purchase the
<br />Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee �ha:1 deliver
<br />t;;, the pur:hascr Trustee's decd conveying the Property. 'f' ,,e
<br />nsxrrals in the Trustee's deed shall be prima facie evideskr -,,f tAe
<br />:r�rath nt the statements made therein. Trustee shall apply the pro -
<br />ctrds of the sale in the following order-. (+ )•:o all expenses of the
<br />including, but not litnired to. 'Truvt.�sr's. ees as pettxna. ;;d by
<br />altil:d cabtt law and reasonable an:tirncys' tees; (b) to cif sh ;ws
<br />s,gcttrtd by this Security lasaizatgent; and (c) any excess i& the per-
<br />or persons legally entitled to it.
<br />Pai,•e 3 40, >340421430T
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