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<br />periods as may he required by the i cruder and will pay promptly,
<br />when due, any prethiums on such insurance provision for payment
<br />of which has not been made hereinbefore. All insurance shall be
<br />carried in companies approved by the Lender and the policies and
<br />renewals thereof shall be held by the Lender and have attached
<br />d weto loss payable clauses in favor of and in force acceptable to
<br />the Lender. In event of loss Borrower will gice immediate notice
<br />by retail to the Lender, who may make proof of loss tf not made
<br />promptly by Borrower, and each insurance company concerned is
<br />hereby authorised and directed to crake payment for such toss
<br />directly to the t.etnder instead of to the Borrower and the Lender
<br />jointllt. and the insurance proceeds, or any part thereof. may be
<br />appiit~d,by the Lender at itt+ option either to the reduction of the
<br />indtibludness hereby secured ar to the restoration or repair of the
<br />property damaged. In event of foreclosure of this instrument or
<br />other transfer of title to the mortgaged property in extinguishment
<br />of the indebtedness secured hereby, all right, title and interest of
<br />the 9orrower in and to any insurance policies then in force shall
<br />pass up the purchaser or grantee.
<br />. 'i?cat as ac it:ranal and ua`, ,;�e 4 sc%%!T:i*,;p `.OT the payment of
<br />thoitote descriNr ;w ;uf all su :msta i ecorn .•f :c tinder this instru-
<br />mettar;the Borrowei:'�rereby assrgr& ;d the Lender all profits,
<br />rermovs, royalties. rightsi and bAmwn' s accruing to the Borrower
<br />unkm any and all oil and gas (Gawks on said premises. W i °.h : he
<br />right to receive and receipt for the same and apply then; :a+ said
<br />indebtedness as well before as after default ei Vilne conditions of
<br />this instrument, and the Lender may dernaA:..ZSe for and recover
<br />any 5;.,xh payments when due and payable, &i, shall not be re-
<br />quitvd so to do. This assignment is to terrr,;w,,.e and become null
<br />and void upon release of this instrument. ,
<br />ID. That the Borrower will keep the buildings upon said premises
<br />in good repair, and neither commit nor permit waste upon said
<br />land. nor suffer the said prernkcs to be used for any unlawful
<br />purpose.
<br />1t. That if the premises, or any part thereof, be condemned
<br />under the power of eminent domain, or acquired for a public use,
<br />the damages, awarded, the proceeds for the taking of, or the Con-
<br />sideration 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
<br />the lender. and shall be paid forthwith to said !.ender to be ap-
<br />plied by the latter on account of the next maturing installments of
<br />such indebtedness.
<br />Lender shalt 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
<br />unless applicable law provides otherwise). The notice shall specify:
<br />(a) the default; (b) the action required to cure the default; (c) a
<br />date, no, less than 30 days from the date the notice is given to
<br />Borrower, by which the default must be cured; and (d) that failure
<br />to care the default on or before the date specified in the notice
<br />may result in acceleration of the sums secured by this instrument
<br />and sate of the Property. The notice shall further inform Borrower
<br />of the right to reinstate after acceleration and the right to bring a
<br />croon action to assert the non- existenve of a default or any other
<br />defense of Borrower to acceleration and sale. if the default is not
<br />cured on or before the date specified In the notice, Lender at its
<br />option may require immediate payment, in full of all sums secured
<br />by this instrument without further demand and may invoke the
<br />power of sale and any other remedies permitted by applicable -law.
<br />Lender shall be entitled to collect all expenm incurred in putr,Uiny
<br />the remedies proei3ed in this paragraph 13, including, but not
<br />limited to, reasi* tole attorneys' fees and txtxm , of title evidener. :
<br />It the power of sate is invoked, Truster. shail itevni tr. ittruca 6
<br />default in each county in which any part of flat irrrt is..IOC3ttxi
<br />and shall mati (: pies of such notice in dig - m �s::ter presl ribed by
<br />applicable Wv ro Borrower and to the alber persons precribed by
<br />applicable law: lifter the time required by applicable law, Trustee
<br />shall give public notice of !s,le tp the persons and in the manner
<br />prescribed by applicable fa,*; .Trustee. without demand on Bor-
<br />rower, shall sell the Proper) at public auction to the highest bid-
<br />der at the time and place and under the terms designated in the
<br />notice of sale in one or more parcels and in any order Trustee
<br />determines. "Trustee may postpone sale of all or any parcel of the
<br />Property by publu: announcement at the time and place of any
<br />previously scheduled sale. Lender or its design-.c may purchase the
<br />Property at any sale.
<br />Upon receipt of payment of the price bid. Trustee shall deliver
<br />to the purchaser Trustee's deed conveying the Property. The
<br />recitals in the Trustee's deed shall be prima facie evidence of the
<br />truth of the statements mate therein. Trustee shall apply the pro -
<br />cecds of the sale in the following order: (a) to all expenses of the
<br />sale. including, but nut limited to. T'rustee's fees as permitted by
<br />applicable taw and reasonable attorneys' fees; (b) to all sums
<br />secured by this Security Instrument; and (c) any excess to the per -
<br />wn or persons legally entitled to it.
<br />Pape 3 of 5" a HU6921i3DT .
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<br />89-- .105135
<br />made shall be added to the principal sum owing on the above
<br />t2. The Borrower further agrees that should this instrument and
<br />tote, shall be secured hereby, and shall bear interest at the rate set
<br />the note secured hereby not be eligible for insurance under the Na-
<br />fotih in the said note. until paid.
<br />tional Housing Act within eight months from the date hereof
<br />(written statement of any officer of the Deputment of Housing
<br />—T: fat [lte�OrrOWiT �CtS, irutaiersiti,'r� cis �iFc'i ��-
<br />'vii � �t°4?ry Lf -- ad- �" e l ! -- -
<br />- - -- - - - - -
<br />the Lender, to be applied toward the payment of the note and all
<br />Housing and Urban Development dated subsequent to the eight
<br />sums secured hereby in caw of a default in the performance of
<br />months' time from the date of this instrument, declining to insure
<br />-
<br />my-of the terms and conditions of this instrument or the said
<br />said note and this mortgage, being deemed conclusive proof of
<br />note. all the rents, revenues and income to be derived from the
<br />such ine4biliity), the Lender or holder of the note may, at its op-
<br />m W premises during such time as the indebtedness shall remain
<br />tion. declare all sums secured hereby immediately due and payable.
<br />w" W. and the Lender shall have power to appoint any agent of
<br />Notwithstanding the foregoing, this option may not be exercised
<br />Writs it may desire for the purpose of repairing said premises and
<br />by the Lender or the holder of the note when the ineligibility. '120
<br />of renting the same and collecting the rents, revenues and income,
<br />insurance under the National Housing Act is due to the
<br />and it may pay out of said incomes all expenses of repairing said
<br />failure to remit the mortgage insurance premium to thept<r::
<br />paeemises and necessary commissions and expenses incurred in rent -
<br />ment of Houei:_i-g•zad urban Deveopment
<br />ing and managing the same and of colledkig t;ft*"als therefrom;
<br />> •'.. :. .: ...
<br />the balance remaining, if any, to be app;ied.p the discharge
<br />13. That if iJ,,ia, iroaer 'w i3;tra. e a3' cci rla i river
<br />i
<br />of said indebtedness.
<br />what the san*, T. came +�e:, !,N Put �nztt�. ,`r` i pt*
<br />uith"any of tut eo;.ditioits or ieettients ip d in this inst'
<br />rs
<br />9 „ the Borrower Kilt keRp rFtr i;rtfs'rt•eiteEnt� it M°tiu+,'�cz
<br />merw. �= tP� tnax which it sauces. then titti t(re principal sum
<br />t;
<br />or iiir colter erected t f)re pr rl, ., i,ftpr... zs may ix a ra!+
<br />and a.txttef atu��+zss shall at once become s+e and payable, at the
<br />from time tot me g 16'' �.etnder against lots' by fire and other
<br />eleaiim of the L6der.
<br />harards, casualde3'attd contingencies in such amounts and for such
<br />periods as may he required by the i cruder and will pay promptly,
<br />when due, any prethiums on such insurance provision for payment
<br />of which has not been made hereinbefore. All insurance shall be
<br />carried in companies approved by the Lender and the policies and
<br />renewals thereof shall be held by the Lender and have attached
<br />d weto loss payable clauses in favor of and in force acceptable to
<br />the Lender. In event of loss Borrower will gice immediate notice
<br />by retail to the Lender, who may make proof of loss tf not made
<br />promptly by Borrower, and each insurance company concerned is
<br />hereby authorised and directed to crake payment for such toss
<br />directly to the t.etnder instead of to the Borrower and the Lender
<br />jointllt. and the insurance proceeds, or any part thereof. may be
<br />appiit~d,by the Lender at itt+ option either to the reduction of the
<br />indtibludness hereby secured ar to the restoration or repair of the
<br />property damaged. In event of foreclosure of this instrument or
<br />other transfer of title to the mortgaged property in extinguishment
<br />of the indebtedness secured hereby, all right, title and interest of
<br />the 9orrower in and to any insurance policies then in force shall
<br />pass up the purchaser or grantee.
<br />. 'i?cat as ac it:ranal and ua`, ,;�e 4 sc%%!T:i*,;p `.OT the payment of
<br />thoitote descriNr ;w ;uf all su :msta i ecorn .•f :c tinder this instru-
<br />mettar;the Borrowei:'�rereby assrgr& ;d the Lender all profits,
<br />rermovs, royalties. rightsi and bAmwn' s accruing to the Borrower
<br />unkm any and all oil and gas (Gawks on said premises. W i °.h : he
<br />right to receive and receipt for the same and apply then; :a+ said
<br />indebtedness as well before as after default ei Vilne conditions of
<br />this instrument, and the Lender may dernaA:..ZSe for and recover
<br />any 5;.,xh payments when due and payable, &i, shall not be re-
<br />quitvd so to do. This assignment is to terrr,;w,,.e and become null
<br />and void upon release of this instrument. ,
<br />ID. That the Borrower will keep the buildings upon said premises
<br />in good repair, and neither commit nor permit waste upon said
<br />land. nor suffer the said prernkcs to be used for any unlawful
<br />purpose.
<br />1t. That if the premises, or any part thereof, be condemned
<br />under the power of eminent domain, or acquired for a public use,
<br />the damages, awarded, the proceeds for the taking of, or the Con-
<br />sideration 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
<br />the lender. and shall be paid forthwith to said !.ender to be ap-
<br />plied by the latter on account of the next maturing installments of
<br />such indebtedness.
<br />Lender shalt 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
<br />unless applicable law provides otherwise). The notice shall specify:
<br />(a) the default; (b) the action required to cure the default; (c) a
<br />date, no, less than 30 days from the date the notice is given to
<br />Borrower, by which the default must be cured; and (d) that failure
<br />to care the default on or before the date specified in the notice
<br />may result in acceleration of the sums secured by this instrument
<br />and sate of the Property. The notice shall further inform Borrower
<br />of the right to reinstate after acceleration and the right to bring a
<br />croon action to assert the non- existenve of a default or any other
<br />defense of Borrower to acceleration and sale. if the default is not
<br />cured on or before the date specified In the notice, Lender at its
<br />option may require immediate payment, in full of all sums secured
<br />by this instrument without further demand and may invoke the
<br />power of sale and any other remedies permitted by applicable -law.
<br />Lender shall be entitled to collect all expenm incurred in putr,Uiny
<br />the remedies proei3ed in this paragraph 13, including, but not
<br />limited to, reasi* tole attorneys' fees and txtxm , of title evidener. :
<br />It the power of sate is invoked, Truster. shail itevni tr. ittruca 6
<br />default in each county in which any part of flat irrrt is..IOC3ttxi
<br />and shall mati (: pies of such notice in dig - m �s::ter presl ribed by
<br />applicable Wv ro Borrower and to the alber persons precribed by
<br />applicable law: lifter the time required by applicable law, Trustee
<br />shall give public notice of !s,le tp the persons and in the manner
<br />prescribed by applicable fa,*; .Trustee. without demand on Bor-
<br />rower, shall sell the Proper) at public auction to the highest bid-
<br />der at the time and place and under the terms designated in the
<br />notice of sale in one or more parcels and in any order Trustee
<br />determines. "Trustee may postpone sale of all or any parcel of the
<br />Property by publu: announcement at the time and place of any
<br />previously scheduled sale. Lender or its design-.c may purchase the
<br />Property at any sale.
<br />Upon receipt of payment of the price bid. Trustee shall deliver
<br />to the purchaser Trustee's deed conveying the Property. The
<br />recitals in the Trustee's deed shall be prima facie evidence of the
<br />truth of the statements mate therein. Trustee shall apply the pro -
<br />cecds of the sale in the following order: (a) to all expenses of the
<br />sale. including, but nut limited to. T'rustee's fees as permitted by
<br />applicable taw and reasonable attorneys' fees; (b) to all sums
<br />secured by this Security Instrument; and (c) any excess to the per -
<br />wn or persons legally entitled to it.
<br />Pape 3 of 5" a HU6921i3DT .
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