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<br /> madc �hal) be addeJ to�he►�rincipa) sum u��mg on the+�h�.�e 12. '1'hc f3o�rm�er further agrce� that should this inslrument and
<br /> � note, chall he secured hereby. and shall kcai interc�� a� thr ratc�ct the notc cccured hcreby nat be eligible f'or insur:uur undcr the Na-
<br /> - , f�tth in the said noie, urail�+aid. iional Hausing Act within eight mon�hs from�he datc hcrcol'
<br /> � (H�:�tten statement af any officer af the Ue�anmcnt of Hausing
<br /> 7. That the Bc�rroNer herebr assigns, trancfcra and aets o�cr to and Urban Dcvclopmcnt ar autharired agent oP the Secretary of
<br /> the Lender. to bc applie� toward the payment of�he note�nd a11 tlousing and Urban Deti�elopment dated substquent ta the eight
<br /> sums secure4 hereby in case of a default in tho performance of mant��' time f��m the date of this instrument, decUning to lnswe
<br /> any oi the te�ms and conditions of this instrume�t or the said said note and this mortgage, being damed conclusi�e prix,f oP
<br /> nate,all ihe rents, re��enue��nd inrame ta bc dcri��ed f�om the such ineligibilityl. the Leader or holder of the nate may.at its op-
<br /> said premises during such time a.s the indebtedness shall remain tion, declare all sums secured hereby immediatcly due and payable.
<br /> unpaid, znd the Lendtr shall ha�•e power to appoint any agcnt or Notwithstanding the foregaing.this option may not be exercised
<br /> agents it may desire for Ihe purposc af repairing said premises and by the Lender or the holder of the note when tne ineligibility for
<br /> of renting the same and callecting the rcntc, re�•enucs and income, insurance under the National Housing Act is due to the Lender's
<br /> �nd it may puy out af'said incomes all expenses a)rcpairing said failure to remit the mangage insurance premium to the Depart-
<br /> premises and necexsuy cummissions and etipenses inturrcd in rent- ment of Housing and Urban Deveopment.
<br /> ing and managing the same and of collec�ing rentals theref'rom;
<br /> the balance remaining.if any. to be applied ta��a�d the discharge 13. That if the Borro��•er fails to make any payments of money
<br /> of said indebtedness. ��•hen the same become due, or fails to confotm to and comply
<br /> «•i�h any of the conditions or agreements contained in this instru-
<br /> 8. That the 8arrow�er will keep the impracements naw e�isting ment, or che note x�hich it secures, then the entire principal sum
<br /> or hereafte�erected an the propeny, insured a.c may be required and ac��ed intecese shall at once become due and payable, at the
<br /> from tim�to time by tht Lender against lasc by iire and other electivn c�E cRe l.ecr.cf�r.
<br /> hazards, casualtiec and contingencies in such amounts and for wch �
<br /> periods as may be requircd by thc Lcnder and w•ill pay promptl�•, Leuwer skal) gi��e notice to Socro���er prior to acceleration
<br /> when due. any premiums on such insurance pro��ision for pa�•ment follo�►e�g Botto�ter's breach a�f��covenant or agreement in this
<br /> of which has not been made hereinbefore. .AU insurance shall be instrument Ebut ���i Frior to acce(eration under pazagraph 12
<br /> carried in companies appro��ed b�• the Lendet and the policies and unless applicable P.�K pro�ides othen+•ise).Ttce rtotice shall specify:
<br /> renewals thereof shall be held by the Lender and have attached , �a)the default; ��}ehe action �equired to wre the defauI[;(c)a
<br /> thertto loss payable ctaases in fa�•or of and in form acerptable to date,�r�� less than 30 days from the date the notice is girea to
<br /> the Lender. ln e��ent of loss Borrow•er w•iU gi��e ir�mediate notice Borr�Mer.by w�hich the default must be cured:and (d)ttu�tt [ailure
<br /> by mail to the Lender.who may make proof of loss if not made to cu�r.the defaulc o4 or befor�the date speci&ec3,in the notice
<br /> prompUy by Bonow•er,and each insurance company concerned is may result in accet«vztion of the sums secured C*w this instrument
<br /> hereby authorized and directed to make payment for such loss and sale of the Property. The nouce shall funfier inform Bonov►er .S .
<br /> directly tu the Lender instead of to the Barrow•er and the Lender of the right to reinstaYe after acceleration and the right to bring a
<br /> jaintty. and the insurance proceeds, or any part �hereof, may be court action to azsert the non-ezescence of a default or any Qeher
<br /> applitd by the Lender at its optian either to the reduction of the defense of Borrow•er to acceleration and sale. !f the defau[t i�aot �-'
<br /> indebtedness hereby sc�vred or to the restoration or repair of the cured on or before the date speci�ed in the notice, Lendet at iu
<br /> - pivpriiy uamxgc�i. in c�rni vi ivreciosurc oi ti�is instrument or opcion may require tmmeciia[e payment in Tult of all sums secured -
<br /> other transfer of titte to the mongaged property in extinguishment by this instrument without further demand and may invoke che �
<br /> of the indebtedness secured hereby. all right.title and interest of pow•er of sale and any other remedies permitted by applicahk taw.
<br /> the Borrower in and to any insurance poliries then in force shall Lender shall be entitled to collect all txpenses incurred in putsuing
<br /> pass to the purchasee or grantee. the remedia provided in this paragraph 13. including,but not
<br /> limited to. reasonable attorneys' fees and wsts of title evidenca
<br /> 9. That as udditional and oollateral se�urity for thc payment of
<br /> the note described,and all sums to becarne duc under this instru- If the pow•er of sale is im•oked, 'i'rustee shall record a notice of
<br /> ment.the Borrower heceby assigns to the Lender all profits, default in each county its w�hich any pan of the Praperty is located
<br /> revenua, royalties, r�e�u and benefits accruing to the Bonower and sha11 mail copies of such notice in the manner prescribed by
<br /> under any and all oil and gas leases on said premises, with the applicable law to Borrower and ta�he other persons precd6ed by
<br /> right to receive and reaipt for the same and apply them to said applicable law. After the[ime r.eqerired by applicable law,Trustee
<br /> indebtedness as well before as after default in the conditions of shall give public noti��e of sale ca st►e persons and in the manner '
<br /> this instrument,and the Lender may demand, sue for and recover ptrscribed by applicabFe[aw�."E'evstee, without demand on Bor-
<br /> • any such payments when due and payahle. but shall not be re- rower, shall sell the Propetty ae�+ublic auction to the highest bid- i
<br /> quired so to do. This assignment is to terminate actd become null dee at the time and ptaee and Lader the torms designated in the '•'�
<br /> and void upon relrase a.�¢this instrument. notice of sale in one�r more parcels and in any order Trustee ,
<br /> � determines. Trustee rray postpone sale of aU or any parcel of the �-
<br /> !0. That the Borrower will keep tC�e buildings upon said pre.�ses Propeny by public a.�ouncement at the time artd place of any
<br /> in good repair, and neither commit nor permit w•aste upon said previously scheduled sale. Lender or its designee may purchase the
<br /> land, nor suffer the sa:d premises to be used for any unlauPul Property at any sale. � •
<br /> purposc. _
<br /> Upon receipt a�payment of the price bid. Trustee shall deliver
<br /> 1 t. That if the premises. or any:gart thereof. be condemned to the purchaser'Q's�s:ee's deed conveying the Propeny. The
<br /> under the_pawer of eminent doma:�n.ar acquired for a public tose, recitals in the Tre:s:ee's deed shafl be prima facie evidence of the
<br /> the damaga awuded, the proceMs for the taking of, or the con• cruth of the staternents made checein. Trustee shall appty the pro-
<br /> sldtr8iioef for such 3cg�.•isiL�on, ta the extenc of ahe full amount of c:eeds of the sate in the foilow�ng.order; (A)FO RII C%Qt��S��t�lQ
<br /> tndebtalness upon this.mstrument and the noce.wYiich it is given to sate, inrtuding. but.not limited to, Trustee's fees as pertnitcer2 bp
<br /> secure temaining unpaid,arc herels�r assigned by c�e $orrower to apD4�ra�le lau ar.�zeasonable attorneys' fees;'(�b3•tn all st:ms �
<br /> the Le�dac, and shatl be paid fortf:avuzh to said Lender to be a�- seci:red'�y this Ses.urity Instrument; and (c)ar,y excess to tL-�per-
<br /> plied by tfle latter on acCOUnt of the next maturing instalimt^.ss cf sorr os persons lcgaliy entitled to it.
<br /> such indtbtedntss.
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