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<br />made shall be added to the princpal sum owing on the above
<br />12. The Botro*cr further agrees chat should thi?. hkr.tmettt and
<br />note, shaft be secured hereby. and shall bear interest at the rate sett
<br />the Hate secured hereby not be eligible for irtsurane a under the No-
<br />t forth in the said note. until paid.
<br />tional Housing Act within eight tnm>ftths from the date hereof.
<br />(Nritten stater MA of any officer of the L'epartmcttt of Hswsang
<br />7. That the Borrower hereby assigns. transfers and sets over to
<br />and Urban Development or attithoriaed awl of the Secretary of
<br />- — - - -the LerideT, to & 3pplied toward -the payment of the note and alp
<br />HaWnj- and -Urb& DeveV0pntennt acid subsequeftt to [ire 0411
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<br />- sums secured hereby in case of a default to the performance of
<br />months' time from the date of that instrument, declining to insure
<br />any of the terms sad coadidama of this instrument or the said
<br />said note and this mortgage, being deensed conclusive proof of
<br />note. #2 the runts, revetides' Sind incx)frse to be defivtd frotri the
<br />such inelitibibip. the Lsitiler or holder of the terse my. at its ap-
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<br />said premises during such time as the indebtedness shall remain
<br />lion, declare all sums secured hereby immediately due and payable.
<br />unpaid. and the Lender shall have power to appoint any asent. or
<br />Nomithuandint the foretoins. this option may Hoe be exercised
<br />agents it may desire for the purpose of'repairing said promises and
<br />by the Lender or the holder of the tote when the ineligibility fa•
<br />of renting the same and collecting the rents, revenues and income,
<br />insurance under the NatimW Housing Act is due to the Lender's
<br />and it may pay out of said incomes all expenses of tepainng said
<br />failure to remit the mortaase insurance premium to the Depan-
<br />preoncs and necessary commissions and expenses incurred in rent -
<br />mrert of Housing and Urban Deveopment.
<br />ing and mattagiug the same and of collecting rentals therefrom;
<br />the balance remaining, if any, to be applied toward the discharge
<br />13. That it the Borrower fails to nuke any payments of money
<br />of said indebtedness.
<br />when the same become due, or fails to conform to and comply
<br />with any of the conditions or agreements contained in this ingru.
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<br />8. That the Borrower will keep the imptt+t•emettts now existing
<br />meet. or the note which it secures, then the entire principal sum
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<br />or hereafter erected on the property, insured att.may be required
<br />and accrued interest shall at once become due and payable, at the
<br />'Croni time to tiot by the Lender against loss. by fire and other
<br />election of the Lender.
<br />hazards, castraWts and contingencies in such amounts and for such
<br />periods as may be required by the Lender and will pay promptly,
<br />Lender shall give notice to Borrower prior to acceleration
<br />when due, ante premiums on such inwrance provision for payment
<br />following Borrower's breach of any covenant or agircei tent in this
<br />, . • : :....
<br />of which has not been made hereinbefore. All insurance shall be
<br />instrument (but not prior to acceleration under paragraph 12
<br />carried in companies approved by the Lender and the policies and
<br />unless applicable law provides otherwise). The notice shall specify:
<br />renewals thererafsi'rall be held by the Lender and have attached
<br />(H) the default; (b) the anion required to cure the default; (c).a
<br />thereto loss payable clauses in favor of aria in form acceptable to
<br />date. not less than 30 days from the date the notice its given tar,
<br />the [.ender. In oiw; of loss Borrower wilt give immediate notice
<br />Wrrctwer. bj, which the default must be cured; and (d) that. fitilure
<br />by trail to the Lender. who may make proof of loss- if not. made
<br />to cure the default on cr before the date specified in live notice !
<br />promptly by Borrower. and each insurance company uwncomed is
<br />may rssult in acceleration of the sums secured by this itltaiunteitd:
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<br />hereby au%horiAd and directed to make payment for such, loss
<br />chid sale of the Property. The notice shall further inform )orro%6
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<br />directly to the- Lcn,!er instead of to the Borrower and the Lender
<br />ref the'right to reinstate after acceleration and the fight to bring a
<br />jointly, ar)d ft insurance proceeds, or any part thereof, may be
<br />:court action to user the non-existence of a default or any other
<br />applied by the kender at its option either to the reduction of the
<br />deferrse of Borrower to acceleration and sale. If thc.default is not
<br />isdat' Wriess hereby secured or to the restoration or repair, of the
<br />cured on or before the d eta spedficd in.the no4m Lender at its
<br />proptiar y damaged. in event of foreclosure of this instrument or
<br />option may require immediate payment. in full of ale sums secured
<br />other transfer of title to the mortgaged property in extinguishment'
<br />.by. this instrument without further demand and may, invoke the
<br />of the indebud mss secured hereby, all right,- title and interest of
<br />prisver of sale and any other remedies permitted by applicable law.
<br />the Borrower fur and to any insurance poNt.'ici then in ,fierce shall.
<br />4,nder shall be entitled to calletct 411,expenses incurred in pursuing
<br />pass to the purchaser or grarrtct.
<br />the remedies, provided in this paragraph 13* including, but not
<br />limited to.!irxsonabk attorneys' fees anti: casts of title evidence.,. .
<br />�. That as a4ditional andi .olfateral security for the puyinenr
<br />the note and allsv!ms to be =•once due under !his tpar -
<br />If the power of sale is invoked, Trustee shall wwlId :-a notice of
<br />ment, the arrix*ur hembyassgns to the Lender all profits,
<br />default in each county in which any part of the Ply is located
<br />revcmm, royaltio.- rights and benefits accruing to the Borrower •
<br />and shall mail copies of such notice in tine mannerr prescribed by
<br />utu w, any and all oil and gas leases on said premises. with the
<br />applicable law to Borrower and to the ux?& persons precribed by
<br />rid':! to receive and receipt for the same and apply them to said
<br />applicable law. After the time required °t applicable law. Trustee
<br />indebtedneu as.wetf before ia'••affer defauff, its the conditions of
<br />shall give public notice of sale to the persons and in the manner
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<br />this instrumenr.'and the Ltttc� Huy slctpbinria,_sue for and recover .
<br />prescribed by applicable lbw. Trustee, without demand on Boo.
<br />any such pa),nott's• when dac .atad payable. but shall not be re-
<br />Nwer. shall tell the M-q�wly. at public auction to the hl hest bid -
<br />quirtd so to do. This "s ;j mcpt is to terminate and become null
<br />der at the r :,ate amt p;;;i�:w and under the terms designated in the.
<br />and void upon release of i146 instrument.
<br />notice'Cl'' a is °i per, �a Morc parcels axd in any vrder Truster '• :: ,
<br />determivee. T4u tWtuciy postpone sale of all or aaV,paitcel of 1l4;! '
<br />10. That the Borrower will keep the buildings upon said promsts
<br />Property ley j;ulolic announcement at the time and ltfilwt; of any
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<br />in rood repair, and neither commit nor permit waste upon said
<br />pp.,viausly scheduled sale. Lender or its designee mov purchase the
<br />land, ruts, iWer the said premises to be used for any unlawful
<br />P operty at any sale.
<br />purp4!r .
<br />Upon receipt of payment of the price' Lid, Trustee shall deliver
<br />IS, That if the premises, or any part thereof, be condemned
<br />ao the purchaser Trustee's deed conveying the property. The
<br />under the powct of eminent domain, or acquired for a public use,
<br />tcriials in the Trustee deed shall be prima facie evidenm of the
<br />the damagm aitraiefed. the proceeds for the taking of, or the con-
<br />truth r,f the statententti made therein. Trustee shall apply the pro -
<br />sideration foc'siKh acquisition. to the extent of the full amount of
<br />coeds of the sale in the following order: (a) to all expenses of the
<br />indebtedness upon this instrument and the note which it is given to
<br />sale, including, but not limited to, Trustee's fees as permitted by
<br />secure remaining unpaid. are twreby assigned by the Borrower to
<br />applicable law and reasonable attorneys' fees; (b) to all sums
<br />life Lender, and shall be paid forthwith to said Lender to be ap-
<br />secured by this Security instrument; and (c) any excess to the per-
<br />plied by The Weir on account of the next maturing installments of
<br />son or persons legally entitled to it.
<br />such indebtedness.
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