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� � l 89�-. �.0631 q � madc shali bc added ca�hc principal�um o��ing un �he Ah��ve 1?. The Borro«e� funhcr agrecs that should this instrument and note, shall be secured herchy.and shall bear interesc at the �ate set the note secured hereby not be eligible for insurance under the Na- forth in the said note, until paid. cianat Itousing Att��iihin eigt�t ntunths frum the date hereof (Hriuen statement aP aay of�cer of the Departmrnt oP Housing 7. That the Borrower he�eby pssigns, transPers and sets rn•er to and UPoan Decelapment or authorized agcnt ot the Secretary o1' the Lender, to be applicd toward the payment of the note and all Housing and Urban De�•elopment dated subsequent to the eight sums se�ured hereby in case oP a default in the performance of months' time i'rom.the date of thls instrument,declinin�to insure any of the terms and conditions of this instrument or the said said rtote and this mongage. being deemed conclusive proof oi nate.ap the rents, re�•enues and income to be derived from the such inetigibility), the Lender or holder of the note may, at its op- said premisea during such time as the indebtedness shall remain tion, declare ap sums secured hereby immediately due and payable. unpaid. and the l.ender shall have power to appoint any agent or Notwithstanding the foregoing, this optian may not be cxercised agents it muy desire for the purpose of repairing said premises and by the Lender or thc holder of the note when the ineligibility for of renting the same and collrcting the rents,revenues and ineome, insurance under the National Housing Act is due to the Lender's and it may pay out �f said inwmes all expenses of repairing said failure to remit the mortgage insurance premium to the Depart- premisec and neces.��commissions and expenses incurred in rent- ment of Housing and Urbar� Deveopment. ing and�nan�qing t�e same and of collecting rentais therefrom; the balan��e rrma9�nin�.iP any, ta be applied co�rard the discharge 13. That if the Borro�vor fails to make any payments of money of said indebtedness. �vhen the same become due,rr fails to conform to and comply with any af the canditions or a�reements containai in this instru- 8. That the Borrower w•ill keep the improvements now• existing ment. or the note which it secures, thcn the entire principal sum oc herealter erected on the property. insured as may be required and acerued inte�est shall at once become due and payable, at the from tnme to time by the Lender against loss by fire and other election of the Ler_der. hazards, casualties an3 contingencies in such amounts and for such periods as may be �equired by the Lender and will pay pramptly, Lender shaU gi�•e notice to Borrower prior to acceleration when due, any premiums on such insurance pro��ision for payment Following 8orro�cer's breach of any cocenant or agreement in this of whicl�has not been made hereinbefore. AU insurance shall be instrument (but net prior to acceleration under pazagraph 12 carried �a wmpanies approved by the Lender and the policies and unless applicabte la��•provides otherwise). The notice shall specify: reneKa;s thereof shall be held by the Lender and have attached (a)the defauJt; (b) the action required to cure the default; (c) a thereto loss payable ciauses in Pavor oP and in :orm acceptable co date,not less than 30 days feo�the dato the notice is gicen to the Lender. in event of loss Borrower will giti-e anmediate notice Bono�ver. by �vhich the defavRt must be curtd; and (d)that failure bp mail to the Lender. who may make proof of ioss if not made to cure the default on or before che date specified in the notice ! ' promptlx by Borrower.and each insurance rnmpany concerned is may result in acceleration o1'the sums securee! by thls instrument ' �'�• hercbr authorized and directed to make pay�ment for such toss and sale of the Propeny. The notice shaU fnrther inform Bonower .;� directly to the Lender instead of to the Borrower and the Lender of che right to reinstate after acceleration and the right to bring a ; � _ . iointiv, and the insurance proceedsr ar anc narc chereof, may he r��n a�tlnn rn a��ss r�P fl��.�V,LLtncr Qf s defas:li cr::�r a:h;r applied by the Lender at its option eithrr to the rcduction of the drfznse of Borrower to acceteration and sale. If the default is not • - indebtednas hereby secured or to the restoration or repair of the rured on or before the date specified in the natice. Lendor at �ts �.-` property damaged. ln event of foreclosure of this instrument or option may require immediate payment in fu!1 of all sums secured other transfer of title ta the mortgaged propert}� in extinguishment by this instrumen[ �vithout Punher demand and may invoke the of the indebtedness secured hereby, aU right,citle and interest of power of sale and any other remedies permitted by applicahle law. the Borrower in and to any insurance policies then in force shall Lender shall be entitled to colleet all expenses incurred in putsuing �� , pass to tho purchaser or grantee. the remedies provided in this paragraph 13. including, �ut not limited to. reasonable attorneys' fees and casts of title evidence. - 9. 'Fhat as additional and collateral security for the payment oP - the note described,and all sums to hecome due nnder this instru- If the power of sale is invoked, Trustee shall record a�otice of ment,the Borrower hereby assigns to the Lender all profits, defaa3t in each county in which any pan of the Pro pem is located revenues. royattia, rights and benefits accruing ta the Borrower and shall mail copies of such notice in the manner pracr�bed by under any and all oil and gas leasa on said premises. with the applicable law to Borrower and to the other persons precribed by right to rcceive and receipt for che same and apply them to said applicable law. After the time tequired by applicable law, Trustee indebtedness as well before as afcer default in the conditions of shall give public r.otice of sale to the persons and in tha manner . this instrument.and the l.ender may demand, sue for and recover pres��ibed by applicable laa•. Trustee, without demand an $or- • `� : any such payments when due and payable, but shall not be re• rower, shall sell the Propeny a¢ public suction to the tiighat bid- +� quired so to do.This assignment is to terminat�and become null der at the time and place and eu�der tbe terms designated in the }:._ and void upon rdease of this instrument. notice of sale in one or more parcels and in any order Trustee ' ��- ' determines. Trustee may postpone sale of a�t or any parcel of the • 10. That the Borrower will keep the buildings upon said premises Propeny by public announcement at the time and place of any in good repair,and neither commit nor permit waste upon said previously scheduled sale. Lender or its designee may purchase the land,nor suffer the said premises to be used for any unlawPul Propeny at any sale. . � purpose. Upon receipt of payment of the price bid,Trustee shaU deliver I1. That if the premises,or any pan thtreof.be condemned to the purchaser Trustee's deed conveying the Praperty. The undts t2sc power oF eminent domain.or a��quired for a pubiic use. recitals in the Trustee's deed shall be prima facie evidence of the � the tlamaYes�►wuded. the procads for the taking of, or the con- truth of the statements made therein. Trustee shall apply the pra sideration fot such acquisition.to the extent of the full amount of ceeds of the sale in the following order: (a) to all expensa of the inckbtedness upon this instrutnent and the note which it is given to sale, including. but not limited to, Trustee's fees as permitted by secure remaining unpzid, are hereby assigned by the Botrower to applicabie law and reasonable attorneys' fees;(b)to all sums the L,ender,and shall be paid fonhwith to said Lender to be vp- secured by this Security lnstrument: and(cl any excess to the per- plied by the latter on account of the next maturing instal(ments of son or persons tegally entitled tv it. such indebtedness. Page 3 of 5 �• . HUD�92113DT ..-. . .s . �..— � �— .,J �. �� � . .�� . �. . � �