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<br />made shall be added to the principal sum.ow•ing on the above
<br />12. The BurrowAr further, agra es. that should this instrument and
<br />note, shall be securedlereby, and -shall tear interest at the rate set
<br />the note sttcurrd.hertbj riot. be plfgibig for insunttce under the Na-
<br />forth in the said note, until paid.
<br />tional Housing AZ witlsiit,oightimoi the from the date hereof
<br />(written 94100041 of anJ offiper'tir the Department of Housing
<br />7. That the Borrower hereby assigns, tratiefers and- sets over to
<br />and Urban L'tavrinpment or quthorit-ed agent of the Secretary of
<br />tV Lender. to be applied toward the pviymehi of the note and all
<br />Housing and- VthwLacs*1oPniW dated subsequent to the eigiu
<br />- sums- secured hereby in case of a default' of
<br />ntttttths' time" from the dift ott t jilt instrument. declining to insure
<br />i any of the terms and conditions of this iltururttent or the said'
<br />said. note .attir this rpartgpga,: be ff `clbltt od conclusive proof of,
<br />Hate, all the rents, revenues and income to be derived from the
<br />such ineliBr- ltiliOY), the Lendim.no.hillder; of the note may. at its op-
<br />said premises during such.t(mc as the indebtedness shali;tt mtdn•
<br />tion; deci iw. all1wms sec nd— ,heYh1, ,1itimediately due and payable.
<br />unpaid. and the Lender shatlthave power to apAoitit attl:sageht sir.
<br />Notwithstuntifttg the farggaing; this option may not be exercised
<br />ARMS it may desire for the purpose of topairing said )premimrs and
<br />. by the Lender• or the holder of the note when the ineligibility for
<br />of tenting the same and collecting the rents. revenues and incomes,
<br />insutartm under the National Housing Act is due to the Lender's
<br />and it may pay out of said incomes all expenses of repairing said
<br />failure to remit the mortgage insurance premium to the Depart-
<br />Premises and necessary commissions and expenses incurred in rent -
<br />merit of Housing and Urban Deveopmept.
<br />. ing and managing the same and of collecting rentals therefrom;
<br />the balance remaining, if any. to be applltd toward the discharge
<br />13. That if the Borrower fails to make any payments of money
<br />of said indebtedness.
<br />when the same become due. or fails to conform to and comply
<br />"
<br />'' •= . 8. That the Borrower will keep the improvements now existing
<br />with. any of the conditions or agreements contained in this instru-
<br />M004 or• the note which it secures, then the entire principal sum
<br />cr hereafter erected on the property, insured as may be required
<br />and accrued interest shall at once become due and '
<br />payable, at the
<br />Aw.m time to time by the Lender against loss by fire and other
<br />election of the Lender.
<br />wArds, casualties and contingencies in such amottms and for such
<br />periods as may be required by the Lender, will pay promptly,
<br />Lender shall give notice to Borrower prior to acce?'erat4on
<br />when due. any premiums on such insuaw.Provision for payment
<br />rM
<br />1767dowing Borrower's breach of any covenant or agreement in this
<br />of which has not been made haronbefore. 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 thereof shall be held by the Lender and have attached
<br />thereto loss payable clauses in favor of ami. *b form acceptable to
<br />fit) the default; (b) the action required to clue the default; (c) a
<br />d;:e. not less than 30 days from the date the notice is given to
<br />the Lender. in rsent of loss Borrower w.2 &e immediate notice
<br />Borrower, by which the default must be cured; and (d) that failure
<br />by mail to the Lender. who racy make proof o; loss if not made
<br />to cure the default on or before the date specified in the notice
<br />promptly by Borrower, and e0s insurance company mm=mcd is
<br />may result in acceleration of the sutras swured by this instrument
<br />hentby authorized and direct l to make payment for s L- loss
<br />and sale of the Property. The notice shall further inform. Borrower
<br />' 0-p4y to the tmder instead; of to the Borrower and the Lender
<br />of the right to reinstate after aceelerati,.w, and the right to bring a
<br />johh:V. and Qs-t insurance proceeds, or any pan thereof, may be
<br />`
<br />court action to assert the non - existence of a default or any other
<br />applied by the Ueinder at its option either to the reduction of the
<br />defense of Borrower to acceleration and sale. if the default is not
<br />ine)ebt.dness hereby secured or to the restoration or repair of the
<br />cured on or before the date specified irs,.tbe notice. Lender at its
<br />prv1perty damaged. In event of foreclosure of this instrument or
<br />option may require immediate payment lit, full of all sums secured
<br />other transfer of title to the mortgaged property in extinguishment
<br />by this instrument without further de=.&7d and may invoke the
<br />of the indebtedness secured hereby, all right. title and interest of
<br />power of sale and any otha.rtmedies permitted by applicable law.
<br />the Borrower in aayS to any insurance policies then in force shall
<br />f -finder shall be entitled ?rs; collect all expenses Incurred in pursuing
<br />pass to the pur&aser or grantee.
<br />he remedies provided in this paragraph 13, including, but not
<br />9. That as additional at;et uiilateral security for the payment of
<br />limited to.:,=4onable attorneys' fees -M costs of title evidence.
<br />the note described, and all sums to become due under this instru-
<br />if the power of sale is invoked, Trustee shall record a notice of
<br />ment, the Borrower hereby •gssigns to the Lender all profits,
<br />default in each county in which any part of the Property is located
<br />revenues. royalties, rights and benefits accruing to the Borrower
<br />and shall mail copies of such notice in the manner prescribed by
<br />under any and all oil and gas leases on said premises. with the
<br />applicable law to Borrower and to the other persons precribed by
<br />r*ht to receive and receipt f„c she same and apply them to said
<br />iat7►kbtedness as well before s; ,titer default in the conditions of
<br />applicable !mw- After the time required l:.y applicable law, Trustee
<br />shall give pudi;r notice of sale to the prnwns and in the manner
<br />d6s instrument, and the Lert;pr may demand, we for and recover
<br />prescribed .f:gr, ;rpplicable law. Trustee. without demand on Bor-
<br />any such payttyarr t; when due and payable, but shall not be re-
<br />rower, shall 'Sell the Propntiy at public auction to the highest bid -
<br />quired so to do. ?his assignment is to ter i4tate and become null
<br />and void upon release of this instrument.
<br />der at the time and p1a;+" xn4i under the terns designated in the
<br />notice of sale in or.: , -,r in-vre parcels zrid in any order Trustee
<br />10. That the Borrower WEE krmp the buildings upon sa>f premises
<br />determinm 7 r� nee ;�t;:;' postpone sale, c,, all or any parcel of the
<br />Property by y�blic annc:.::ctment at the time and place of any
<br />in good repair, and neither commit nor retmit waste up n said
<br />land, nor suffer the said premises to be vvxd, for any unlawful
<br />previously scheduled sale. I.r -nder or its designee magi purchase the
<br />Property at any sale.
<br />purposes
<br />11. That if t`4 premises, or any part thereof. be candernned
<br />Upon receipt of payment of the pr.ce bid, Trustee shall deliver
<br />to the purchaser Trustees dee1,ca- •,:,�j;ttg the Properly. The
<br />uWkr the pewo',of eminent domain, or acquired foe a. Public use.
<br />recitals in the Trustee's deeZ, thall be ,r'rna facie evidence of the
<br />the damages ima ded, the proceeds for the taking of, or the con-
<br />skktation for suchh acquisition, to the extent of the full amount of
<br />truth of the statements i.11ade sherein. Trustee shall apply the pro-
<br />ce-eds of the sale in the fi;llawing order: (a) to all expenses of the
<br />iNkNedness i4tntt this instrument and the note which it is given to .
<br />r,:ile. including, but not limii�ed to, Trustee's fees as permitted by
<br />secure remaining unpaid, are hereby assigned by the Borrower to
<br />applicable law and reasonable attorneys' fees; (b) to all sums
<br />the Lender, and shall be paid forthwith to said Lender to be ap-
<br />plied by the latter on accoucz of the next maturing installments of
<br />secured by this Security Instrument; and (c) any excess to the per -
<br />legally
<br />such indebt*tnt,-
<br />son or pentane entitled to it.
<br />Page 3 of 5 HM92143D7
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