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89105406
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Last modified
10/20/2011 1:53:43 PM
Creation date
10/20/2005 10:06:39 PM
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DEEDS
Inst Number
89105406
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apply them to said iaidebtedness as well before as taller default in the conditions of this instrument, and the Leader tray de- <br />} mend. tare for and recover any weir ptymeats what due and payable. but shall not be required so to do. This assip nw* ' <br />k is to terminaw and become r811 sad void tt4ort release of this itr011►tnseht. <br />lo. That the Borrower will keo tide buildiap upon said premises in good repair, and neither commit nor permit wake <br />algae ,raid land, nor suffer the said pianists a be used for any unlawful purpose. <br />11 That lithe premises. or any part dwreof be condemmed under *a power of eminent amain, or acquired far a public <br />tree, the do t awarded. the proceeds for the taking oaf, or the cee okra ko foir such saphitiam, to the extent of the full - <br />- th- ;esimmmt and the Dote wlti�h it ix Rival. a >Fe�±rE rerrnainiat ttttpaid. are hereby assigned - <br />T - -- <br />by the HOrma to die Leader, aad shall be paid forthwith to said Lender a be applied by the lager on account of wet <br />1l fill iogalln aka of mxh iniltbUdooss. <br />12. Tile Dorrower further agrm' hat imid' this ingrummnC sad. the note wowed hereby not be digiWe far iaattranee <br />Ueda lice Natiiorral Horning .Act wilhini eight tmwMhs frost die date hereof (written sfatpQaart of any officer of tlse DeparttaeaE <br />of Hoomag and Utbsn De_.-claprre t or'xutharized agent of the Secretary of Housing and Urban Development doled subea <br />quest w the eW months' time from the dale of this instrument, declining to inwre said note and this mortpr, being dmu- <br />ed conclusive proof of such ineligibility). the Linder or bolder of the mote may. at its option, declare all starts secured hereby <br />imwAdiaedy due and payable. Notwithstanding the fism014S. this option nay not be exercised by the Lender or the holder <br />of the now when the ineligibility for insurance undue this Nutional Housing Act is due to the Lender's failure to remit the <br />n wrtaage insurance premium to the Department cf Haauing and Urban Devekpnenrt. <br />13. That if thi Harrower fails to make any paymanhi of aittiney when the sow. become due, or fails to conform to and <br />comply with any of the conditions or agreements cantuaial::iit this insuumernt. or the rate which it secures. drat the entire <br />principal sum and accrued interest shale at once became. dti6 and payable. at the election of the Lender. <br />Leader shall give notice to Borrower prior to acceleration following Borrowers breach of any covenant or agreement <br />in this instrument (but not prior to accelerration under paragrapk:12 unless applicable law provides otherwise). The notice <br />shall specify: (a) the default. (b) the action required to cure the default; (c) a date, not less than 30 days froth the date the <br />notice is given to Borrower. by which the default must be cured; and (d) that failure to cure the default on or before the <br />date specified inh the notice may result in acceleration of the sums secured by this instrument and sate of the Property -. The !... <br />notice shall OtftW inform Borrower o1: d* right to reinstate after acceleration and the right to bring a court action to assert <br />the oon- eiisk6i a of a default or any other dffcnse of. Borrower to acceleration e.4 sale. If the default is not cured or+ or <br />tw.fore the date specified in the mice. Lender at its option may require in mr.diate payment in full of all sums secured by <br />u6tir instrument without f ,r demai,d and may invcke the power of sale and any other remedies permitted by applicable <br />law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 13, in- <br />cluding. but not limited to, reasonable attorneys' fees and costs of title evidence. <br />• If the power of sale is invoked, Trustee shall mvir d a notice of default in each county in which any pan of the Property <br />is located and shall mail copies of such notice in the munner prescribed by applicable law to Borrower and to the other persons <br />prescribed bti applicable law. After the Mime required by applicablelaw. Trustee shall give public rinlice of sale to ttrparsons <br />and in the r6rawr prescribed by apples tble law. Trustee, without demand on Borrower. shell sell the Property at oMic <br />:Notion to the bigtk-;t bidder at the time and place oral under the terms oksignaied in the totsce of ,tile in one Of r1iorc pir"c is <br />wtil,In any order Trustee determines. Trustee may postpone sale of all or any parcel of tht Property by public announcement <br />at "the time and place of any previously, scheduled safe. Lender or its designee may purchase the Property at any sale. <br />Upon receipt of payment of the price bid. Trustee shall deliver to the purchaser Trustee "s deed conveying the Property. <br />" AKs ,recitals in the Trustee's deed shall be prima'. We evidence of the truth of the statements made therein. Trustee shall <br />:may the proceeds of-the sale in the following to all expenses of the sale, including. but not limited to, Trustee's <br />fires as pr.p4ed by applicable law and reasonablee attorneys' fees; (b) to all sums secured; by this Security Instruminr4 mid <br />(c) any excess to the person or persirt;f._brgally entitled to it. <br />14. Upon acccleratim,om)er paragraph 13 or ab.wAmment of the Property�..L:ender (in person, by agent or by judicially <br />appointed receiver) sha1S 1? 'entitled K�. %er upm tithe possession of and rt ii ge the Property and to collect the rents of <br />the Property including host past due... Any rents collected by Lender or the receiver shall be applied first to payment of <br />the ousts of of the ProptNiVand collection of rents. including, but not limited- to, receiver's fees. py <Aoiums <br />on receiver's beads• and reasonable attorneys' fets.. and then to the sums secured by this instrument. <br />13. U"0ayment of all sums secured by this hutiurwrit, Lender shall request Trustee to reconvey the Property rand shall . <br />surrender dory i".nstrument and all rwtse; aidencing debt secured by this instrument to Trv*rtm. Trustee shall twitivey the <br />Property witlrrrtrt warranty ant# widtam huge to the m; . -son or .persons legally entklyd r+.r^ it Such person or pertjfrns Shall <br />pay any recordation costs. <br />16. Leader. at its option, may from time to tinie rernove'rrustee and appoint a successt.,r mstee to any Trustee 9M. Inted <br />hereaederby an Warument recorded in the county in which this ilsitrument is recorded. Without conveyance of the, t'�+t'aperty, ; <br />tTrt successor trustee shall succeed to all the title. power and duties conferred upon Trustee herein and by appl"c i law. <br />17. Btwrow'er requests titan ci*-S of the noticet f�¢ default and sale be sent to Borrower's address which is the Property n <br />18. If ow or more riders are executed by Borrower and recorded together with this instrument, the covenants and agr "Vnieinr <br />of cash such rider shall be incorpoi*W into and shall amend and supplement the covenants and agreements of this itismaimni ' <br />as if the rideds.) were s part of this, instrument. <br />1 •• . <br />19. 'i1x' covenam, herein ctwainO shall bind, and the benef#9 and advantages shall inure Ro, the respective heirs. ex- <br />o adminisirooim &WfCs*Ks,,and oissianr: of the panics hertto. Whenever used. the singular number stub include the <br />plural the plural the singular, ari the' use of acy gender stiall include all genders <br />1 <br />i <br />b, a :,e i!t+�t >aiu3 -DT rte-, z;88 E r'r <br />
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