|
}
<br /> �
<br /> � �
<br /> ` 89-- j p��---
<br /> r. madr �hall bc addrd �u�he ��r�nriral .urn a��ing �m thr aha�r 12. 1 he Horru��cr turthcr agrces that shuuld th�s instrumcnt and
<br /> ( nc�[r, shali l+t secured hercb�,and shalt heu mtgcesi ac �he rate set [he no�e secured hereb�� nui he eti�ibte for insurancc unQer�he Na-
<br /> tunh in the said nute, u�u�l �a,d. uunal Naus�ng Aci ��nhin eight mamhs tram che date hercof
<br /> n��itte� statemrnt of um� of`icer af the [)epartment oP Nousing
<br /> �. That the &u�a��e� hcrchF a.,ign., Iran�fcr� and .s�s o�cr �o and ltrhao pe�elopment or au�horited axenc of the Secretan� af
<br /> ihc l.endcr, to bc apphcd to��ar�thc pa�-ment oi thc notc and all Hous�ng and Urban ne�elopmcnt dated subsequent to the ei�ht
<br /> sumc srcured liereby in ca�r uf a def'aul� in the performance af months' ��n:e from the date of thi5 ins�rument, declining to insure
<br /> any of the tern►s and condnions ui this msirumem or the said �aid note ar�d this mortgage, being deemed conclusi�e prpof of
<br /> notr, all�he rents, rc�enuce and incc+me to bc Qua•ed from the such inclig►bilit��), the 1 ender or halder af the note may, at its op-
<br /> said premises dunng such ume aF �he indebtedness shaU rema�n aun, declare all �ums sccured hereby immediately due and payablr.
<br /> unp�id, and the 4cnder chall hatic �•rn�er �o app��mt anv agent or No�.cith�tanding thc foregaing, thic option ma}• not be exercised
<br /> agems n may drsin_ for thr pur�sc eP rcpairing aaid premises and b� thc Lcnder or the holdcr of the notc�vhen the ineligibility far
<br /> af rcnt�ng the same and callecung tht �ents, �e�enucs and mrome, insurance under the National Housing Act is duc iu ihr LendGr's
<br /> and it may p:iy out oi said incomes aU c��ensec of repairing ca�d failure�o rcmit the mortgage insurance premium to the Dcpart-
<br /> prerniscs and ne�YSCar> �ommissions and expcnscs incurred in rcnt- ment of Housing and Urban De�eopment.
<br /> ing and managing the same and of rollertmg rcntal� therefrom;
<br /> ihe halan�e remaining, ii am, to be appl�ed to��ard the di��hargc 13. Tha� if�he Sorraa�er fails to make any payments af money
<br /> ol+aid indebtednes�. when the same become due, or fails ro canform to and comply
<br /> «ith am of the conditions or agreement� contained in this instna
<br /> R That !he Sor�o�er ++ill 4ee�+;he ir.zp:o.;��e:ttti sic�u�.^xi,;;ng n;.°nt,ar the nate which it strurrs,tt�en the entire arinelpal suru
<br /> or hereafter erected c�n the property, msured a. may he requ�red and ac:rued interest shall at once become due and payable,at the
<br /> from time io time b>� the L.e�da� aga�n�! luss h� firc and other elcction of thc Lender.
<br /> hazards. �asualtie� and ��+n=cr.�,encie: in such amaun[s and for curh
<br /> ��eriucis as m�. M requued fi�•:he Lender and will pa� rrompdy. Lender shall gi�e notice to Borrow•er prior to acceleration
<br /> ��hen due, ar.� p�emiums on such �n+uran;e p-o►ision tor payment folto���ng Borro��er's breach of any co�•enant or agreement in this
<br /> oi which has no:}+een macie hereinbeterc. �11 insuranc�shall be mctrument (but not prior to acceleration under paragraph 12
<br /> .arried m c.��p�an�es appro�ed b�•the le^3e: �nd the �hcies and unless applieable la« pro�•ides otherwise). The notice shall specify:
<br /> ser.euals ihcre�.��shall lx held by the Lender and ha�•e a�:ached la► the default; (b1 the action required to cure the default: (c) a
<br /> a�rreto tos. pa�able clausc� z.rt fa�or of and m form a:.�eptable to date. nos less than 30 days from the date the notice is giv=n to
<br /> tk� t.cadcr. lc e�ent of lus, Borro��er ��iU g���c immediate notire Borroxer, by w•hich the default must be cured: and(d)that t'ailure
<br /> by maii tu thr IlMnder. «ho ma> make proof c�f lo�s if not made to cure the�efault on or �rfore the date specifitd in thc notice
<br /> promptl�• by Bon�ower, and each ineurance campan>� conceTned is ma�� resulT m acceteration of the sums seeured by this instrument
<br /> hereb� authonT�d and dire�tcd n� make payment tor such losc and �ale of the Propeny. The noticc shail iunher inform Bonower � �
<br /> directl}• �o the Lender inctra��,f to the Rutro«er and the I.ender of ¢he right to reinstate after acceleration and the right to bring a -
<br /> �aintl��, and the�nsurancc prckeeds, or an> part thcreof, ma> br r�urt action to assen the non-existence of a dcfault or any other �_..-
<br /> apnlied h�� the Lender at it� optian cither �o tht reductiun of the defense of Borr�wer to arceleration and sale. !f the defauit is not °.
<br /> - - ii�a�iCvi�ui�C:i iia.Cv� +Ciuia'u 8i 1'v iii� iCiia.iuiivi�4i i��r$iT vi i�ia' �U�2t�Vit VI` VC�tiIC iI7C untC�}IC�jttCt! lIt tliC tlUtI1X. �.CIIUCT�I IIS � . -..
<br /> property damaged. In c�•ent ut forectnsurc ot ihn mctrumcnt ar apcion may rcquirc immedlate payment in full of all sums secured
<br /> other transfer of tule to the mo�tgagcd propeny m exnnguishment by� this instrument without funher demnnd and may invoice the '
<br /> of thc indebtednrss �ccurcd hereby, all right, tnle and imere�t of poaer of sale and any other remedies permitted by applicable taw, �
<br /> the 8or�oaer in and ta an�• m�urance policic� then �n ���ne ahall Lender shall be entitled to callect all r�penses incurred in pursuing
<br /> pass to the purchaser or grantee. thc remedies provided in this patagraph 13,including, but not '
<br /> timiced t�, reasonable attoraeys' fees and costs of title e�•idence.
<br /> 9. That ati addiuonal und rollatcral ,c�unt� for thc payment of
<br /> thc nute dcsrnbed,and all sums to bcromc duc undrs:F,is�nstru- If �he power of salr is invoked. Trustee shall record a notice ef
<br /> mept,the Borrower hereby sss:gns tu the Lender all �r�of�ts, default �n each caunty in which any part of the Property is locatecd
<br /> resenua, royah►a, rights and benefn+ acrruing to thr &�rra��er and sha11 mail copies of such notice in the manner prescribed by
<br /> under any and all oil and gas leases on naid�remises, w•i�h the applicable law• to l3orrou•ec and to the other prrsons�+rectibed by
<br /> right to recei�•e and rrceipt ior �he same a�d apply them to said applicable law. After the 6ime reguired by applieable law, Trustee '�
<br /> indebtedness as W�ell before as after defau�v in the conditionc of chall gice public notice oF sale ta the persons and in the manner
<br /> this instrummt,and the Lender :nay demand, sue for ac�d reco�er prescribed by applicable taw•. Trustee, withaut demand on Bor- —
<br /> any such payments u•hen due and pa>able, but shall �a� be re• row•er,chall sell the Property at public auction to the highess bid- �
<br /> quired so to do. This assignrncnt i� to terminate and become null der at the time and place and under the terms designated in the ��-
<br /> and void�spon release of this instrument. natice of sale in one ov more parcels and in any order Trus�ee
<br /> determines. Trustee may yostpone sale of all or an}parcel of the ��"�-
<br /> 10. That the Borrower uil) keep�he buitdings upon said prem�sc�s Propenp by pubGr announcement at the time and pface of any �
<br /> in good repair, and neither commit nor p�rmit �+asce u�on said previouslp scheduled sale. Lender or ics designee may purchase the
<br /> land. nor suffer t;ae said premises ro be used for an> unl�wful Propeny at any�sale.
<br /> purpose.
<br /> Upon reaipt of payrnent.of thc price bid, Trusta shall deliver
<br /> I 1. That if the prem�ses, or any part �hereof, be condrmned to the purchaser'frustee•s deed conveying the Property.The
<br /> under the powet of eminent domain, or acquired for a publir use, recitals in the Trustee's deed shall be prima facie evidence of the
<br /> c[ze damages awazded, the paoceeds for the taking of, ar[he con• trnth of the statements made thcr2in. Trustee shall apply the pra
<br /> sr�tetation for su¢h acquisitioq, to the extent of the fu�l amount of ceeds of the sale in the following order:(a)to afl expenses of the
<br /> ondebtedness upon this instrument and the note which+t 3s given to sale, including, but not limited to. Truster's fees as permitted by
<br /> secure remaining unpaid. are hereby assigned by the Borrower to applicable laa• and rtasonubte attvrneys' fees; (bl to all sums
<br /> eht l.ender. and shall I+e paid fonhwith to said Lender to be ap- secvted by this Security Instrument;and (c1 any excess to the per-
<br /> p1+M by the latter on account of the next maturing iastallments of son or persons legally entitled to it.
<br /> snch indebtedness.
<br /> Page 3 of 5 , HUD:92t430T � �
<br /> I ,
<br /> . �
<br /> � � � �
<br /> ��!
<br /> � -R.
<br /> � �
<br />
|