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<br />event of leers Borrower will give immediate notice by mat to the
<br />Leader. wbo may make proof of lean if not rank pmmptiy by
<br />Borrower, and each insurance company oanoerw is_hereby_ -
<br />airuoriaed and to d,ak psy�mm far wilt last directly to
<br />the I.nadet haste" of to the Borrower and W Leader jointly. and
<br />the ianWOM proe Wk a any PM thereof my be applied by the
<br />inadtr at is con n tiller to the redemos of the indebtedness
<br />hereby sopared of to the neatmbon or, repair of the property
<br />dawaagte A In event of forecionm of this hmuv taeat ox other traaskr
<br />trf tick to the uncrrgaged prive ty in extiaguiahment of the
<br />isde6itdnesa secured hereby, all tight, we and interest of the
<br />lorrower is and to may insurance policies then in fora shall pass to
<br />the purchaser or grantee.
<br />9 That as additional acrd collateral security for the pyment of the
<br />note described. and all sum to become due under this instrument.
<br />the Borrower hereby assigns to the Lander all profits` revenues,
<br />royaltiek rights and baarPIN I act ndq to the Borrower under any and
<br />all ate and 1W feaaa on'. d =(iremnea, with the right to receive ad
<br />rotxipt for the same aa'at them to said indebtedness as well
<br />before as after default in l� oonditittns of this instrtuneat, and the
<br />Leader may dwurr4 see for and recover any such payments whets,
<br />due and paSabiit; but dm&,aot be required so to do. This assignment
<br />is to terminate and becorata.null and void upon release of this
<br />instrument.
<br />la That the Borrower will keep the buildings upon said pretaism
<br />in flood repair. and aeitlrer commit nor permit waste upon said land,
<br />nor surer the said prvns*,Ib -be used for any unlawfai: p),upose.
<br />V 1. That if the premamuc any parr thereof. be cov&am d under
<br />;fat power o6'm meat domain, or acquired for a public use. the
<br />di magea awanitad, the proceeds for the taking of, or the
<br />W sideratkm for such acquisition, to the extent of the full amount of
<br />i6khtedness upon this inmuneent and the note which it is given to
<br />secure remaining unpaid, are hereby assigned by the Borrower to the
<br />Leader. and shall be paid forthwith to said Lender to be applied by
<br />the latter on account of the next maturing insullments of such
<br />indebtedness.
<br />12. The Borrower f l-O' en that should this iatzv.0 -.nt and
<br />the now secured hereby not be eligible for insurance mile the
<br />National Horn it- Act within eight months from the date hereof
<br />(written 999MM of any officer of the Department of.f�>�g and
<br />Urban Development or authorized agent of the Secretary 4.il Housing
<br />sad Urban Development dated subsequent to the eight. mrodw time
<br />from tie date of this instrument, declining to insure save, nue and
<br />this mortgage, being deemed conclusive proof of such ineligibility).
<br />the Lander or holder of the note may, at itx ogliat, declare all sums
<br />secured hereby immediately due and poysalgds. Notwithstanding the
<br />foregoing, this option may rent be exerciscol by the L cv4rr or the
<br />bolder of the note who t)ra: hi eligibility for insurance' unikx the
<br />National blousing Ace is du to ehc Lender's failure to meat the
<br />moripge W w saw premium to the ikp u,nent of HovAng and
<br />Urban Development.
<br />13. That if the Borrower (ails to make any pyrneats, nl money
<br />when the same become due, or fails to conform to area comply with
<br />nay of the conditions or adreements contained in this instrument. or
<br />the uote which it secures. then the entire principal sum and accrued
<br />_iaiere�sts�!lal.o�a..�,�•; y��attFe£ic"ioio€t.c
<br />Leader. Lender shW give notice to Borrower prior, to attxleratron
<br />k4lowiag Borrower's breach of any covenant or agreettsent in this
<br />Wars"Nent (but not prior to aooekratkm under paragraph 12 unless
<br />Avolics law provides tie action otherwise). The notice shall specify: (a) the
<br />required to cure the default; (c) a date, not less
<br />than 30 days from the date the notice is given to Borrower, by which
<br />the deGWt must be cured; and (d) that failure to care the default on
<br />or before the date WOW in the notice may result in acceleration
<br />of the sums secured by this instrument and sale of the Property. The
<br />notice shall further inform Borrower of the tight to reimUte after
<br />aoeeieration and the tight to bring a court scam to assert the non -
<br />existeaee of a defaut of nay other defense of Borrower to
<br />acceleration and sale. if the default is not cared on or beWre the date
<br />specified; W.the notice. Lender at its gption may require immediate
<br />payment'in full of all suns secured by this instrument without _
<br />her demand and may invoke the power of sale and any other
<br />remedies permitted by applicable law. Leader shall be enfitkd to
<br />collect all expenses incurred in pursuing the remedies provided in
<br />this paragraph 13. including, but not limited to. reasonable
<br />attomeys fees and casts of title evidowit-
<br />If the power of sale is invoked. Trustee shall record a notice of
<br />default in each county in which ask castle of the Property is located
<br />and shall . wait Copies of such notice its; lied;, manner prescribed by,
<br />applicabfw aural to Borrower and to tiic saber persons prescribed tip:;
<br />applicable litw. After the time required by applicable law. Trustee
<br />shall give public notice of sale to the persons and in the manner
<br />Prescribed by applicable law. Trustee, without demand on Borrower,
<br />shall sell the Property at public auction to the highest bidder at the
<br />time and place and under the terms desigtated in the notice of Sala
<br />in one Of more parcels and in any order Trustee determines. Trugee
<br />MAY postpone sale of all or any parcel of the Property by public
<br />announcement at the time and place of any previously achedulad
<br />sale. Lender or its designee may purchase the Property at any safe,
<br />Upon trVuPt of payment of the price bid. Trustee shall dtAiv;r: tx
<br />the purchaser Trustees deed conveying the Pt petty. The recitals in
<br />the Trustee's deed shall be prima facie evidence of tilt, troth of the
<br />statements made therein. Trustee shall apply the pnx of the sale
<br />in the following order. (a) to all expenses of the ;sic. includinp,,buv
<br />not limited to. Trustees fees as perrmileai fay applicable law and
<br />reasonable attorneys' fees; (b) to all sums secured 4y this Security
<br />instrument; and (c) nay ,Skeels to the person or pel,wo koly
<br />entitled to it.
<br />14. Upon acceleration under pampipt 13 or abandonment pf "the
<br />Property, L,t uder (in person, by agent or by judicially appointed
<br />receiver) shall be entitled to enter upon, take po6wWto of and
<br />manage the Property and to collect the rents of the Piriperty
<br />including those past due. Any rents callocted by Lender or the
<br />receiver shall be applied first to payment of the costs of management
<br />of the Property and collection of rents, including, but not limited 14%
<br />reoeiver's fees. premiums on reociver's bonds and reasonable
<br />altorney's fees. and then to the sums secured by this instrument.
<br />Pays 3 of g _�— _.�_ __ -__ _. — - -- • - -- - -° -- F(1)D42143DT -1
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