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<br /> r' madc �haU hc addcd to thc pnncipal�um n��ing on thr.Jx+�� 12. The Rnrrn��ec funhcr a�;rcc.ihat tihuul� �hiti inrttun�cnt us�d
<br /> � , note,shall k►�:sccuceci i•.rreb�•. anQ shatl bear mtrsr,� at the rate +et the n�te secured hereby not t+c eligible for msur�nre under th�Ha-
<br /> forih i»thc sai:t c,...:, until�.aid. ticmal Housing Act within ci�ht momh� from the ctatc 1►crruF
<br /> (N��itten statement af any ofPicer of the [kpartment of Hausing
<br /> 7. Tl�at thc RarraKen c�reby as.r•igns, tcansfets and scts acer tu and Urbar t�:velapment ur authn�ited ay.nt rf ths��etasy of
<br /> thc Lender, to I+c aPp�ied toward thc payment of Ihc note and ull Noasiog and Urban Development dAted subseyutnt t�tha eight
<br /> sums secured hereby in case af a deiault in the F+erfo�manee oi months'time frou� the dote of'ih9s instcument, declining ta insure .
<br /> any oi'the terms and conditioas of this instrume�t or the said said note ancl this martgage. being dtemed conclusi��e praaf of
<br /> nate, all thc rents, re��entte5 a�d iacome�a be deri�ed fram the surh ineligibilitv), ehe Lender or holder of the a�te muy.a� its op-
<br /> said premises during such time as the indebtednas shall remain tion,declare all sums secured hereby immediately due and paYable.
<br /> unpaid, a�d ihe Lender shall hati•e paw�er ta appalnt any agent or Notw•ithstanding thc foregoing.this optian may nat be exercised
<br /> agents it mAy desi�e fa►the purpase of repairing said premises and by the Lender ar thc holder ot the nata when the incliaibilir,y for
<br /> oi renting the same und colle�tiing the.rents, re�'eoues and ineame, insurance u�der thc National Housing Act is dua to the Lender's
<br /> and it may pay out of said inromrs ail cxpenses of repairing sai� failure co remit the martgage insutance premium t�the Lkpart-
<br /> premises and necessary commisslons and ex�.►enses incurrcd in �ent- ment of Housina and Urbtui 1ao►topment.
<br /> ing and managing the samc and of cotlecting rentals therefrom:
<br /> the balance remainina. if any, to �+e applied toHard the discharge 13. That if the Borraa•er i2ills to make any payments of money
<br /> of said indebtedness. ��he�s the same b��ome due, or fails co conform to and complg
<br /> ��ith an�of the��nditions or agreements contained in this instru•
<br /> o, s}��;�=u.,�.,wer.�tn kee�cY�e imrru�ements row e�uurag a:er.t.or t�e n�ee w�hich it secures,then the e�►cire principal �um
<br /> , ' or hereaftmr erectr�i on the p�r��ne�s}.in�ure�aa r.ia• Ne rc�.3a�:�v7 and aecraed in.erest snail at once tr��o�ne 3�e a�d pa}��::.=E s�*"-'
<br /> ' from time to tirrie b}the lenCer aeainst (oa�E�� fi:c and�*�htr d:ctian of thr Lender.
<br /> hazards,casualties aad co�ti�gencies in su:h a:catv:r►:s an� for sucf�
<br /> periods as may be re�uired h> :he l.ender and�a�i1�+a��rra�spti�, Gender shali give notice ta Borro��er prior to a.'ceteraticen
<br /> ahe� due, any premiums on such ir�svran.e pm��siu:t far pal�tnent fallo«ing Borronet's breach af an} co��enant or agreement in this
<br /> af which has not been mad�hereinbeture. .all insurance shat!he instrumen[ (but nat�rior to acceieratien under paragraph 12
<br /> carried in cornpaniec appro�ed by �he Lender and the policies and unle+s applicabic taa� pro��ides utl�erKise). The notice shall specify:
<br /> ieneK�als thcreof shall be held by the Lender and ha�e attached lal the default; Ib1 the action requited to cure the default; (c)a
<br /> thereto los�payable clauses in ta�or of anQ in form acceptable to da�e, not less than 30 days from the date the notice is given to
<br /> the Lender. In ctient of loss I3orrowcr µill gi�e immcdiate neticc BorroN•er, by which thc dcfault must be cuted; and (d)that fuilure
<br /> by mail to the Lender. Nho may make prouf of lass if not made to cure the default an or bePore the date speci�ed In the notice
<br /> promptly by &�rrowrr, and each insurynce company�concerned �� may result in accele�ation of the sums secured by this inst�ument :
<br /> hereby au�horind and directed �u ma{�e payment far �uch In�ti and sale af the f'roperty. The notice shall further infonn Borrawer +
<br /> dire.tty to the l.ender in�tead of to ihe lkirruaer and the I ender of the�ight to reinctate after acceleration and the right to bring a -
<br /> jaintly, and the inSUranee rracad�. ot any part thereof, may he court actiun �o assen the non•existence of a default or any other I .
<br /> appficd by the l.e��dec ut its opuon cithcr �a the redu�tiun of�he dcicnte of Bor�o��er to araleration und sale. If the default is not -
<br /> �ndeoicuness ncrcoy��o�c��� <i•���i���Y�������' "►': ^f'•h"- ��,rcd nn�r 6efore the date sDecified in the notice, Lender at its
<br /> property damagtd. In e�ent of fbrrctosure Af thi� msfru�nrnt or option may require immediate payment in fuA of ali sums secure� _
<br /> othcr Iransfer of tit�e to thc mongaged property in cxtinguishment by this instrumens without further demand and may in�•oke the
<br /> of the indebtodness secured hereby, all �ight,title and interest of poNer of sale and any ather remedies permitted by applicable taw.
<br /> the Borroaer in ar+d to any inwrance poLrre� then in force shall Lender shall be entitled to collect al!expenses incutted in pursuing .
<br /> pass to the purchascr �r grantee. Ihc remedics pravided in this paragraph 13, including, but not
<br /> limited to. reasonnble attomey�s' fees and casts oi title evidence.
<br /> 9. That as additional and �ollateral �,ccunty for the paymem of
<br /> the note described,and all sums to becomr due.mder this instru- If the poa�er of sale is in��ked, Trustee shall record a notice of
<br /> ment,the Borrower hereby ass�ns to the Lendet all prnfits, default in each.�unty in Khich any pan of the Property is located
<br /> re�•enues, royalties,nghts and benetits accruing to the BorroHer and shall mail copies of such notice in the manner prescribed by
<br /> under any and all oil and gas leases on said ptemises, µith the applicable taw t�Bc�rrower and to the other persons precribed by s
<br /> right to receive and receipt for the same and applY them to said applicable law. After the time required by acplicable law. Trustce _
<br /> indebtedness as w�ell before as after defauit iee the conditions of ahall gi�e public notice of sale to the persons and in the manner �
<br /> this instrument.an3 the l.ender may demand, �ue for and reco�er prescribed by applicable law_ Tcustee, without demand on Bor- _
<br /> any such payments whcn duc and payable, but shall not be re- rower, shal] sell[he Property at public auction to the highest bid- i�
<br /> quired sa to do. This assignment i� to terminate and become null der at the time and place aa3 undet the terms designated in the ,�..
<br /> and void upon retease of this instrument. noiice of sale in one or more parcels and in any order Trusta
<br /> dctermines. 7rustee may postpane sale of all or any parcel of the �:=_
<br /> 10. That the Borrower aill keep the buildings upon said premises Propeny by public announcement at the time and place of any � °
<br /> in good repair,and neither commit nor p.^rmit waste upero said pre�iously scheduled sale. Lender ar its designee may purchase the _
<br /> land, nor suffer the said premises to be uscd for any unlawful Property at any sale. .
<br /> purpose.
<br /> Upon receipt of payment of the yrice bid, Trustee shall deliver
<br /> 11. 7'hat if the premises, or any part thereof, be condemned to the purchaser Trustee's deed conveying the Property. The
<br /> under the pow�er of eminent domain, or acquired for a public use, rrcitals in the Trustee's deed shall be prima facie evidence of the
<br /> the damagcs awardril, she procecds far the taking of, or the eun- ttuth c,t the statemcnts made therein. Trustee shall apply the pra
<br /> sideration for such acquisiuon, to the extent of the fuU amuunt vf .�e�is of thc sate in shr folio�enng ordss: (a}to all ex�+en�es of the
<br /> indebtedness upan this instrument and the note w•hich it is gi�en to Sale, mcluding, but not {imited to. Trustee's fees as permitted by
<br /> secure retnstining unpaid, are Nereby assigned by the Be�rrower to sc ured by thisaSecureity�lns�trument:�and (�any e cess�tv he pet-
<br /> the Lender.and sha0 be paid forthwith to said Lender to be ap-
<br /> plied by the latter on account af the next maturing installments of son or persons legally entitled to it.
<br /> sucb indebtedness.
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