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<br /> event of loss�orrawer will give immediate natice by mai)to the any af ihe canditians ar Agreart�enu contained in this instrument,or
<br /> . Lender.who m�y m�ice proof of loss if not made promptly by the nute which it secures,then the enti�e prirtcipal sum and actirued
<br /> FaROwer,and e�ch iosunnce comp�ny cancerned is hereby interest shill at once becoma due and psyable,at thc clectian of the
<br /> , �uthori�.ed and di�ectai to m�ke payment For such loss directly to I.ender.
<br /> the 4snder inste�td ot to the Banawer and the Leader jointly,and
<br /> the insurana proceeds,or any part thereof,may be appliod by the l.ender shall give notice to Sorrower prior to acceleration
<br /> Lender at iu opdon either to tbe reduction of the ind�btedness fallowing Borrower's breach af any cavenant or agreement in this
<br /> heroby secured or to the restoratian or apiir of the properly instrument(but�wi p�iar to xeceleratian under paragraph 12 unless
<br /> d�magcd.In cvent of foreclosure af this instrument or other transfer appliable law provides athervuise).The natice shall speciiy:(a)the
<br /> of lide io the mortga�eif propeny in extinguishment of the default:(b)the action required to cure the default;(c)a date,�ot tess
<br /> indebtedrtess scxu�ed hercby,all right,title and interest ot the than 30 days f�om the date the notice is given to Borrower,by which
<br /> Bonawer in and to any insuranco policies theo in force shall pass to the default must be cured;and(d)that failure to cure the defanit on
<br /> � the purchaser or graatee. or before the date spaified in the notice may result in acceleratian
<br /> of the sums secured by this instrument and sale of the Property.The
<br /> 9.That as additiona!and collateral security for the psyment of the notice sh�ll further i�form Borrower of the right to reinstate after
<br /> note describod.and all sums to beoome due under this insuumen� toaleration and the right to bring a coun action to assert the non-
<br /> the Bortower hereby assigns to the Lender ill profits,revenues, existence of a default or any othcr defense of Borrower to
<br /> royaldes,rights snd benefits aceruing to the Bottowe�under any and acecleration and sale.If the defiult is nat cured on or before the date
<br /> all oil and gu teases on said promises.with the right to receive and specified in the�otice,Lender at its option may require immediate
<br /> ce�cipt for the sime ind apply them to said indebtedness as well payment in full af all sums secured by this instrument without
<br /> before as after default in the wnditions of this instrumen�and the further demand and may invoke the power of sale and any other
<br /> Lender may demand,sue for and reoover any sucb payments when remedies permitted by applicable law. Lender shall be entitled to
<br /> due and pzyable,but shall aot be required so to do.This assignment oollect all expenses incurred in pursuing the remedies provided in
<br /> is to terminate and become nul!and void upon release of this this puragraph 13,includue�g,but not limited to,reasonable
<br /> instruraent. attorneys'fees and costs of title evideaee.
<br /> 10.That the Borrower will kap the buildings upon ss�id pcemises lf the power of sale is i�e.oked.'�rustee shall record a notice of � �
<br /> in good repair�aad neither commit nor permit waste upon said land, defsult in each county in w�hich any part of the Property is lacated � �.
<br /> nor suffer the siid premises to be used for any unlswful putpose. and shall mail copies of such notice in the m�nner prescribed by '
<br /> applicable Iaw to Borrower and to the ath�r persans prescn'bed by •
<br /> ' I I.'i iut ii t6e premises,or any pxn t�erwi,be cundemnai under appiicaoic tsw.Hi'icr ine iimc rcyuirai°oy sppii�vIc tYw.i rtui+x � E"-:�
<br /> the power of eminent dom�in,or acquired for a public use,the shall give public notice of sale to the Qe�sons and in the mAnner . �" "
<br /> � dimsges awuded,tde prooe�ds for the taking of.or tho prescribed by applicable law.Trustee,without demand•on Borrower. ,
<br /> considention for such acquisition,to the extent of the fuU amount of shall sell the Property at public auction to the highest bidder at the : -
<br /> indebtedness upon t6is instrument and the note which it is given to time and place and under the terms designatod in the noace of sale
<br /> secure remaining unpaid,ara hereby assigned by the Borrower to[he in one or rnore parcels and in any order Trustce determines.Trustee �-�-
<br /> Lender�and sh�ll be paid forthwith to said Lender to be applied by may postpone sale of all or any parce��f the Property by public —
<br /> tLe lstter on acoount of the next mAturing instsliments of such announcement at the time and place of any previously scheduled ' —
<br /> �����, sale.Lender or iu designee may purchase the Property at any sale. �_
<br /> 12.The Borrowsr further agras that should this instrument and Upon rcaipt of payment of the price bid.Trustce shall deliver to
<br /> the note secured hereby not be eligible for insurance under the the purchaser Trustee's deed oonveying the Propeny.The recitals in
<br /> National Housing Act within eight months from the dxte Aereof the Trussee's deed shall be prima facie evidence of the truth oi the
<br /> (writton statement of any offioer of lhe Department of Housing and statements made therein.Trusta shall apply the prooeeds of the sale . �. .:
<br /> Urbsn Development or suthoriud agcat of the Secretary of Housing in the following order:(a)to atl expensrs of the satG including,but , -
<br /> aad Urban Development dated subsequent to the eight months'time not limited to,Trustee's fees as permitted by applicable!aw and ,,
<br /> from the date of this instrument,dxlining to insure said note and reasonable attomeys'fces;(b)to aU sums secured by this Security •
<br /> this mottgage,being deemed oonclusive ptoof of such ineligibility). Instrunaeua:and(c)any excess to the person or persons legally
<br /> the Lender or holder of the note may,at iu option,declare all sums entitled to it. �'�M1..
<br /> secured hereby immtdiat�ly due and payable.Notwithstanding the . �
<br /> foregoing,this option may not be exercised by the L.ender or the 14.Upon acceleratioa under paragraph 13 or abendonment of the '
<br /> holder of the nou when the ineligibility for insurance under the Property,Lender(in person,by agent or by judicially appointed • . .
<br /> Natiotul Housing Act is due to the Lender's failure to remit the receiver)shall be entitled to enter upon,tsice possession of and
<br /> . mortgage insunna premium to the Department of Housing and manage the Property aad to collect the renu oP the Propeny
<br /> Urban Development. including those put due.Any renu collected by!.ender or the
<br /> rcceivcr sha!!bc applied first eo payment ef the costs of management
<br /> 13.Thst if the Borrower faiLs to make any payments•of maney of the Property and wllection of rents.including,but not limited to,
<br /> when the same b000me due,or fails to wnform to and comply with teceiver's fees,premiums on receiver's bonds and teasonable
<br /> attorney's fees,and then to the sums secured by this instrument.
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