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tirade shall be added to the principal sum owing on the above 12. The Borrower further agrees that should this instrument and
<br />note; shall be secured hereby. aril shall bear interest at the rate set the note secured hereby not be eligibk for insurance under the Na-
<br />forth in the said note. until paid. tional Housing Act within eight months from the date hereof
<br />(written statement of any officer of the Department of Hottsittt
<br />- -- �:- 't'�tTTte �oaroMe� �ve�ty asstgtts: framers attdseis ozzr totwid-iirbau- of tncSs:-izc�j the Leader, to be applied toward the payment of the note and all Housing and Urban development dated subsequent to the eight
<br />strap W,.Wvd hereby in cane of a default in the perforrnaace of months' time from the date of this instrument, decliniat to insure
<br />arty of the terms and conditions of this Ingruenent or the said said torte and this mortgage, being deemed conclusive proof of
<br />note, all the rents. revenues and income to be derived from the such ineligibility), the Lender or holder of the note may, at its op-
<br />saW pranises daring such time as the Indebtedness shalt remain tion, declare all sums secured hereby immediately due and payable.
<br />unpaid, and the Lender shall have power to appoint any agent or Notwithstanding the foregoing, this option may not be exerdsed
<br />agents it may desire for the purpose of repairing said premises and by the Lender or the holder of the note when the ineligibility for
<br />of eta brig the same and Collecting the rents, revenm and income. insurance under the National Housing Ace is due to the Lender's
<br />attd it nsa;r pay out of said incomes all expenses of repairing said he
<br />p mldus and necessary commissions and expenses incurred in rent -
<br />tag attd managing the same and of collecting rentals therefrom;
<br />tl+e balaam remaining, if any, to be applied toward the discharge
<br />of uaiiL jn&btedness.
<br />'9.,! uit the Borrower will keep the improvements now dating
<br />or hereafter erected -on the property, insured as imay be required
<br />from time to` time li�jr the Lender against lam by fire and other
<br />htlzartls, czrj9if�*fd contingencies in such amounts and for such
<br />petilgic" tttay'W'requued by the Lender and will pay tirvmptly.
<br />where•due, any premiums on such insurance prmision for 6ayment
<br />of which has not been made hereinbefore. Alt insurance shalt be
<br />carried in companies approved by the Lender and the policies and
<br />rptewals thereof shall be held by the Lender,n d,have attached
<br />thcret+ Joss Ifayable clauses in favor of and in form acceptable to
<br />the LbAer. In event of loss Borrower will give immedit"m abtite
<br />by maii to the Lender. who may make proof of loss -if alai inade
<br />promptly by Bom;- er. artd each insurance company concerned is
<br />hereby authori�d' alai directed to make payment for such loss
<br />direudy to the Lt o&r instead pf to the Borc.7Nww and the lender
<br />jointly
<br />and the insurance prof weds. or any iw thereof, may be
<br />apf.;1 by the Lender at its o�tfon either to dam reduction of the
<br />indebtedness hereby secured or to the restor:4;ian or repair of the
<br />property damaged. In event of foreclosure ;oC.tf9is instrument or
<br />other transfer of title to the mortgaged pro;aert in extinguishment
<br />of the indebtedness secured hereby. all right: title and interest of
<br />the Wi).rrower in and to any insurance policies then in force shall
<br />pao;x (;-the purchaser or grantee.
<br />°. Tlat as a;: ±?1 Anal and collateral =eeur.,vy, for the payment of
<br />the note described; and all sums to become dW., under this instru-
<br />rnent, the Borrower hereby assigns to the•(= un'er all profits.
<br />revenues. royalties, rights and tw"a fits accruing to the Borrower
<br />under any and all oil and gas teases on said .remists, wT,t3t. [tie
<br />right to receive and receipt for the same uai j :. iipply them to said
<br />indebtedness as well before as, after delaWO Iti Che conditions of
<br />this instrument, and the Lender may de:tPjid; iwe for and recover
<br />any :utfh payments when due itmi payable, 1 rat shall not be ie-
<br />quim"I so to do. This assigmmnv N to tertrinate and became null
<br />are! "void upon release of this instrument.
<br />ID. That the tirmwer will keep the buile.;itgs upon said premises
<br />in good repair; 40tt neither commit.nor permit waste upon said
<br />lan,f;. nor suffer the said premises to be used for any unlawful
<br />ptuptxe. ..
<br />failure to remit the mortgage tnsuraace.premtturt to t Depart-
<br />ment of Housing and Urban Deveopment.
<br />13. That if the Borrower fails to make any payments of money
<br />when the same become due, or fails to confor'rtt to and comply :
<br />with any of the conditions or agreements, cc(ttaino d in this instru-
<br />ment, or the note which it secures, then tft,..entire principal sum
<br />and accrued interest shall at once become due and payable; at the
<br />dee`tion of the Lender.
<br />Lender shall eve notice to Borrower print to,acCr ?on
<br />following Borrower's breach of any coven utt,or agreement in this
<br />instrument (but •wji prior to acceleration under paragraph 12
<br />unless applicable tea provides otherwise). The notice shall specifq:
<br />(a) the default; f^j,lhe actian.required to . *tore the default; (c) a
<br />date. trot less eiai ,,30 days from the date dzn notice is given to
<br />Borrower, by iti)Y141 the default must be+ ;and (d) that failure
<br />to cure the det,tj0•bn or before the date specified in the notice
<br />may result in acl<rietation of the sums secured by this fn>idrument
<br />and sale of the Property. The notice shall funher infurit'$orrower
<br />of the tight to rmMiate after acceleration and the tiglif.ld,bring a
<br />court action to ;hi)rrt the non - existence 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 allttums 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 expeilies incurred in pursuing
<br />the remedies provided in this paragraph, 13., including, but not
<br />limited to, reasonable attorneys' fees and costs of title evidence.
<br />If the power of sale is invoked. Trust" shall retold+ ri notice of
<br />default in each county in which any part of the property is located
<br />and shall mail ;opies of such notice in the manner prescribed by
<br />applicable law-,fo Borrower and to the other persons precribed by
<br />applicable taw. 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..: T'•rustee, without demand on Bor-
<br />rower, shall sell the Propertq'at public auction tq 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 public announcement at the time and pthe is of any
<br />previously scheduled sake. Lender or its designee may; purchase the
<br />Property at any sale.
<br />Upon receipt of payment of the price bid, Trustee shall deliver
<br />11. That if the premises, or any part xheteof, be condemned to the purchaser Trustee's taped conveying the Property. The
<br />under the power of eminent domain, or titgjiired for a public uce, recitals in the Trustee's deecttsl :all be prima facie evidence of the
<br />the damages awarded. the proceeds for the taking of, or the con- truth of the statements'ntWiptherein. Trustee shall apply the pro-
<br />sideration for such acquisition. to the extent of the full amount of coeds of the sale in the following order:' (u) to all expenses of the
<br />Indebtedness upon this instrument and the note which it is given to sale. including. but not limited to, Tfpstei;.'v fees as permitted by
<br />suture remaining unpaid. aft hereby assigned by the Botrower to applicable law and reasonable attorneys' fees; (b) to all sums
<br />tie Leader. and shall be paid forthwith to said Lender to be ap- secured by this Security instrument; and (c) any excess to the per -
<br />piied by the latter on account of the next maturing installments of son or persons legally entidcd to it.
<br />such indebtedness.
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