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<br /> Borrotver, and each insurance company concemed 19 hereby Lwtdet shall givo notiGe to �ortowe�prlor to acceteratlon
<br /> aulhorized and directed to make payment tor sueh lass directy to tollowiny Bortower's breach ot any covenant or agreement in thls
<br /> the Lendee Instead of to tha Borrower and the Lender Jotnty, and inatnrmtmt (Dut not p�iot to acccleration under paragraph 12 unloss
<br /> � tha Insurance praaacds, or any paA lheroof,may b�appli�d by thu appMcaDle I�w providea othawlse). The�otics shaU spec!!y: (a)the
<br /> l.ende�at its option Nther to the�eduetion of ihe hdebtedness dehufh (b)tha acNon roquked to cu�e the defaulh (c)e date, not less
<br /> herc�by secured or to the resto�ation or repak of ths propeRy th�n 90 dayt hom ths d+�t�ths notice is pNen to Bortower,by which
<br /> damaged. In avent o}torecfasure o!thu inatrumMt or olher transler the detauR muat bs cured; and (d) that taliure to cure the detault on
<br /> of tit►e to the mort�aged property in extinguishment o1 the or batore the d�te spacitled in the�otice may rasuit tn acceleretlon
<br /> �ndebtednes� secured heteby, all right, titie�nd k�terest of the o11hs aumo sacu�ed by this In�tntment and sate of the Property.The
<br /> BoROwer in and to a�y Insurance pollcle� then in to�ce shaN pass to notice ahaN 1u�iher intorm 8ortower of the dyht to retnstate aRe�
<br /> tha purchase�o� yrtntee. acceleation and the dqht to bdnp a couR nction to atssert the non-
<br /> exlatenc�ot a deiaull o��ny othe► detense ot BoROwer to acceler•
<br /> 9. That as additional and coliaterai�secwity far the payment of tha etion��d s�b. It the detautt Is no1 cured on o�betore the date
<br /> note deac�ibed,aad ali aums to becoms du�under this tnstrument, ap�citlad k�the notice, Leoder�!fts optlon may requke immediate
<br /> ' the Bortower hereby aasl9ns to the Lcnder�N p�o�t�, revenues, peymeM in NN of�N sums secu�ed by ihis instrument wRhoul
<br /> � royakles, ripht���d benefrts acauiny to the Bortower under any ansi turther demand�nd ouy Invoke the power of se(e and any other
<br /> aN oH and Qas leases on aald premisas,with 2he tiQh!to �eceive and remedit�permftted by eppNcable law. lender�haA ba enlilled to
<br /> receipt tor the same and apply them to sald indebtedness aa well collect aN expensas IncuRed tn purauiny tha remediea provided in
<br /> before as aRei detautt In the conditlons of thia inetrument,and the thia pawgrnph 19,k►ctudk�g, but not Nmhed to, �eesonabte
<br /> Le�der may ciemand, sue fo�and �ecover any auch p�ymenta when attomeys'teea a�d co�ta of tftle evidence.
<br /> due and payable, bu1 shall not be required so to do. This assignment
<br /> �s to lerminate and become null and void upon �etease ot thla instrume�l. 11 the powe� ot sate is invoked,Trustee shall �ecord a notice of
<br /> defaull in each couni�r(n which any paA of the PropeRy is located
<br /> 10. That the Bortower wiA keep the bulidings upon said premises and shaU mail copies of such notice in the ma�ne►prescribed by
<br /> in good repair,and nelther commit nor permit waste upon said land, appUcable law to 8ortower a�d to the olher persons prescribed by
<br /> ' nor sutter the said premises to bQ used tor any untawlul purpose. appUcable law. Afler the time�equfred by applicabte law, Trustee
<br /> shall give public notice of sale to lhe persons and In lhe manner
<br /> 11. That if the premises, or any paK;hereol, be condemned under prescribed by applicable taw. Tn�stee, without demand on Borrower,
<br /> the power ot em(nent domaln, or acquued 1or a public use,the shall sell ihe PropeRy at pubUc auctio� to the hlghest bldder at the
<br /> damages awarded,the proceeds tor the teking of, or the time and pl�ce and under the tertns de�tgnated In the notice ot safe
<br /> conslderation tor such acqulsition, to the extent of the tuU amount of in one or more parcels and in any order Trustea determines. Trustee
<br /> indebtedness upon this�rsUument and the note which R U given to may postpone sale of aN or any parcel of the PropeAy by public
<br /> secure remaining unpaid. are hereby asslgned by the Bortower to the announcement at the tkne and place of any prevlously scheduled
<br /> , Lender, and shall be paid torthwith to satd Lende►to be applied by sata. Lender or it deslgnee may pu�chase the PropeAy at any sale. � :
<br /> � the latter en account o1 the next matvring installments ot such '
<br /> indebtedness. Upon recetpt of payment ot the p�ice bid, Trustee shall deliver to :�
<br /> the pu�chase�Trustee's deed canveying the Property. The recilals In �
<br /> 12. The Borrower turther aarees that should this instrument and the Teustee's deed shall he arima tacle evidence of the truih ot the 1���'�
<br /> tha note secured hereby nat+be eligibfe tor insurance under the stateme�ts made thereln. Tn�stee shatt aapiy the praaeeds of the sate —
<br /> National Housing Aci withln elght months irom the date hereof In the totlowing order. (a)to all ex�senses oi the sale. Including, but ;'°
<br /> (written statement o1 any otticet of the Depanment of Housing and not limited to, Trustee's tees as pemiltted by applicable law and �
<br /> Urban Development or authorized agent of the Secretery o1 Housing reasonabte attomeys'fees; (b) to all sums secured by this Securiry -
<br /> and Urban Devetopment dated subsequent to the etght months'time Instrument; and(c)any excess to the pe�son or persons Iegally � .
<br /> trom the date o1 thls instrument, declining to Insure sald note and entitled to it.
<br /> thls mortgage, be(ng deemed conclusive prool oi such Inellgibiliryj.
<br /> the Le�def or hotder ot the note may, at its opUon, declare all sums 14. Upon ecceleration under paregraph 13 or abandonment o}the '
<br /> secured hCreby immediatety due and payabte. NotwilAstanding ihe PropeRy, Lender(in person, by agent or by judiclally appointed �
<br /> toregoing, this option may not be exercised by the Lender or the recelver) shall be entitled to enier upon, taka possession of end
<br /> , holder of the �ote when the ineligibillry tor insuranae vnder the manaqe the PropeRy and to collect the rents oi the P�opeRy
<br /> . National Housing Act is due to the Lender's faUure to remit the including those past due. My rents collected by Lender or the
<br /> moRgage insurance premium to the QepaRment of Houstng and receiver shaY be applled tlrst to payment of the costs ol management
<br /> . Urban Develapment. ot the Property and callection of rents, including, but not Umlted to, �-
<br /> : • receiver's tees. premlums on recelver's bonds and reasonable
<br /> ; �3. That i1 lhe Borrower ta�s to make any payments ot money attomey's tees, and then to the sums secured by this lnstrumenl. ; �
<br /> when the same become due,or faits to conform to and comply with ;?�
<br /> any o1 the cond'Rions or agreemenis contained in this lnstrumertt, or 15. Upon payment of all sums secured by thls lnstrument, Lender ��'��=-
<br /> the�ote whlch ft secures,then the entire prinGpal sum and ac�:.red sha0 �equest Trustee to reconvey the Property and shall surrender ,`��"�
<br /> interest shall at once Qecome due and payable, at the election of the tftis instrument and all notes er,dencing debt secured by lhis . � �
<br /> Lender. ir�strument to Trustee. Trusiee shall reconvey the Prope►ty wilhout � .
<br /> Page 3 0!5 HUD92143DT-t
<br /> (form FOTA3.pfm)
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