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made shall be added to the principal sum owing on the above
<br />NINO
<br />'12. The Borrower further agrees that should this instrument and
<br />-� note. shall be secured hereby, and shall bear interest at the rate set-
<br />. the note secured hereby not be eligible for. ittsurance udder the Na-
<br />forth ih dw said note; uaiiil paid.
<br />tional Housing Act within eight months from the date hereof
<br />(written stateumt of any officer of th_ a Department of Housing
<br />M ` _`
<br />tr rifem- nd WH
<br />i•}roair . i .. _ t of -fT>c a a y-of--- - -
<br />the Lender, to-be applied toward the payment of the note and all
<br />Housing aid Urban Devsbpamt dated subsequent to the eight
<br />Lets secured Wft in case of a default in the performance of
<br />..: nth► -alt rift- ttrrias and- coeditions of thin inttrtiraent or the said
<br />months' time ftom the date of this instrument, declining to imurle _..
<br />that ttlortpje, tied ootk7tisi4 proof of
<br />trait: ag the rents. rtrfo(tes and iacotsaa to be derived from they
<br />such inetipbility). the Lender or holder of the -note may. at-its op.
<br />said premim daring such time as the ir.*btedaess shall remain
<br />tion, dedare all sumts secured hereby immediately due and payable.
<br />wpW. gird the Lender shalt have power to appoint any agent or
<br />Notwithstanding the foregoing, this optiom may not be exercised
<br />a amts it may desire for the purpose of repairing said premises and
<br />by the Lendcr or the hotdtf of the mote when the ineligibility for
<br />'of rttaft the same and collecting the rents, revenues and income,
<br />and it may pay out of said incomes all expenses of repairing said
<br />insurance under the National Housing Act is due to the Lender's
<br />failure to remit the mortgage insurance premium to the Depart-
<br />Premises acid necessary commissions and expenses incurred in real-
<br />meet of Housing and Cuban Deveopment.
<br />ing and awracuiat the same and of collecting rentals therefrom;
<br />.!rte W2, - -e - cnaini -. if any, to be ap - lied toward the discharge...,
<br />. 13. That if the Borrower fails to make any psytttents of money
<br />of said indebtedness.
<br />when d;tt s*me become due, or fat -to conform to and comply,:
<br />S. That the borrower *0.1=p4* •itttprovements no* existing
<br />with a:. T- *? the conditions or agree is contained in this hula'. :'.
<br />ment. or"tne we which it secures; •rfsien the entire principal ski
<br />or hereafter erected on the iii„ :ttn;:ued as may be, required .::
<br />and accrued interest :.tL,at op' &+ome due.and payable. at the
<br />from time to time by the Lender. ptw&.foss by fire and other
<br />: election of the Lender
<br />hazards, casualties and conti%crrcj6s :jn•such amounts and for suite
<br />Periods as may be required: �y the Lender and will pay promptly._ ''
<br />f
<br />' Lennon shall give nom to Borrapr__ prior to acceleration
<br />when due. any pramiurris it iuch insurance provision for payment
<br />following Borrower's brt'ach of any' covenant or agreement• in this•
<br />of which has not been made ixreinbefore. 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 th;rtof shall be held by tire• zuler and have attached
<br />(a) the default; (b) the action required Ito cure thi:. default; (c) a
<br />thereto loss payable clauses in favor ,,g and in form apceptable to
<br />flee Lender. In event of toss BorroriVi will immediate
<br />date. not,tess than 30 days from the (late the notfxe is given ro•. - .t,
<br />Borro»,ar;:by
<br />give notice
<br />which the default tQt;;ri +_be cured; cartel (d) than tiWi
<br />i► .mail to the Lender. who may make proof of loss if not made
<br />to curl'%N_t`Aetault on or before 6-ialpine specified/4 the of,.,
<br />Pr�mptry b5> Borrower, and cash irtsa�.ance company concerned is
<br />tAnrti+; 9Avr*ed and directed to male: payment for such toss
<br />may.ttsu�t in accekrar�=r,:a�;of the surrs'secured fry- :([tlA instrui ?,`
<br />and sale of the Proprlr:y::?The notice shall further infi rm Borrowez
<br />a$irmtrj. 4 YES•. Lender instead of to the Borrower and the Lender
<br />of the right to reinitsm after acceleration and tli ogvtt to bring a
<br />jKWU4). and'fhe insurarcc proceeds, or any part thereof. may be
<br />court action to assert the non - existence of a default or any other
<br />applied by the Lender at itu option either to the reduction of the
<br />defense of Borrower to acceleration and sale. If the default is not
<br />indebtedness hereby secauit -+ r to the restoration or repair of the
<br />cured on or before the date specified in the notice. Lender at its
<br />property damaged. In event of foreclosure of this instrument or
<br />option may require immediate payment in full of all sutra secured
<br />other trarsft:: of title to the mortgaged property in extinguishment
<br />by this instrument without further demand and may invoke the
<br />of the inded,ndness secured Hereby. all right, title and interest of
<br />the Borrower in and to, w-,,,: nsurance policies then in force shall
<br />"r
<br />power of sale and any other remedies permitted by applicable law.
<br />Lender .sg of be entitled to collet all expenses incurred in pursuing
<br />pass to the purchaser kdutt. -e.
<br />the retttZer4ovided in this paragraph 13. including, but not
<br />9. That 9,,A*;ditional and collateral: security for the payment of
<br />Iimited ty%,,rn.,asonable attorneys' fees and costs of title evidence.
<br />"
<br />the tote dour td, and all sums to become due under this instru•
<br />if the' power of ?;#,ii,�invoked, Trustee shall re•.ord a notice of
<br />ment, the Borrower hereby assigns to the Lender all profits,
<br />default in each couiy,3 rri which any part of the Property is located
<br />revenues, royalties, rights apd benefits accruing to the Borrower
<br />and shall mail copies of such notice in the manner prescribed by
<br />sander any and all oil and,& -? teases on said premises, with the
<br />applicable law (o Borrower and to the other persons precribu:tt by
<br />right to receive and receipt, f<r the same and apply them to said
<br />indebtedness as well befdre iv;af ;er default in the conditions of
<br />applicable law. After the time required by applicable law. Trustee
<br />shall give public notice of sale to the persons and in the manner
<br />this instrum i6l. and the Lek, 'may demand, sue for and recover
<br />prescribed by applicable law. Trustee, without demand on Bor-
<br />any such payrwos when',14o and payable. but shall not be re-
<br />Wired so to do. This at;-aift ment is to terminate and become null
<br />rower, shall sell the Property at public auction to the highest bid.
<br />der at the time and place and under the-terms designated in the
<br />aul void spot! release c° t;4i's instrument.
<br />notice of sale in one or more arce:i}.*'J' in an order Trustee
<br />10. That Y;ix: 1344rower will keep the buildings upon said premises
<br />determines. Trustee may postpone win" ?i all or any parcel of the
<br />Property by public annoktftacm. tnt 3t, We time and place of any
<br />in good reptii'ri and neither commit nor permit waste upon said
<br />land. nor suffer the said: premises to be used for any unlawful
<br />previously scheduled tai ,.'t'�•cs +tow. ct` iiw designee may purchase the
<br />Property
<br />at.any sate.
<br />purpose.
<br />.
<br />11. That, if the premier, cr any part thereof. be condemned
<br />Ltped_ I t:ipt of pa)Tmnt of the a,v, bid, Trusts shall deliver
<br />to the purchaser Trut�sWN deed conveying the Proi;*_vy. The
<br />uusder the Di .*tr of eminent domain, or acquired for a public use.
<br />the damtagts iriarded, the proceeds for the takiiig of. or the con -
<br />-Ccitals in the Trustci!i tlied shall be prima facie evidence of the
<br />truth (it the staterntutti. made therein. Trustee 'shall apply the pnn•
<br />>,ipieration for tuch' acquisition, to the extent of the full amount of
<br />itsdebtedtxss upon this i',t% yn mcnt and the note which it is given to
<br />coeds of ±tut sal in the following order: (a) to all expenses of till) .
<br />sate, incltitlifrg; but not limited to. -t'rustee's fees as permitted by+-
<br />tteture remaining unpai lam, arc hereby assigned by the Borrower to
<br />applicable 4w and zufonable attorneys' fees; (b) to all sums
<br />the hertder,.tied- shall be paid forthwitb,to said Lender to be ap-
<br />tNed by 1h41hit1[ef on ucoilnt of tie Mktnaturing installments
<br />secured by this Sectitlt}^ instrument; and (c) any excess to tide psT.-
<br />of
<br />such irtdtb[eilttess.'
<br />son or persons leg:rtly•eukiticd to it. -
<br />Faye 3 of 5 i PMJO M4301',
<br />r+
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