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<br /> 89= 106551
<br /> rnade shaU be added to�he principa! sum��.►ing on thc.ibo��c 12, The Sarta�+•er Purther agrees that should this instrun�ent nnd
<br /> � nate, xhalf hr scru�cd her�by, and+hali bcar interrs� ai rhe rate set the note secured hcreby not be eligible f'or insurance under the Na-
<br /> far�h in the said note, until paid. tional Hou�ing Ac� within eight monthi fram the datc hereot
<br /> (u•ritte� statement of anp officer of the Department af NousinR
<br /> 7. That the Bor�a��•c�hcrcbg assigns, irattsfcrs and sets o�er �a and Urban pevelapment or autharized agent af ihe Secrelary of
<br /> thc Lende�, to bc appiied ta«a�d the payment af'�hr note and ali Housing and Urban pevelopment dated subsequent to thr cight
<br /> sums secured hereby� i�cace af a default in the per`ormancc of months' time trom the date oF this instrument, declining ta insure
<br /> any af the terms a�d condi�ion� of this inst�umen�or the said �id nate and �his mortgage. being deemed canclusi�•e proof of
<br /> natc. all the rents, rc��enue� and inromc to be deri�•ed fram the tiuch InellgiNility), the Lendcr or holder of the note may, at its up•
<br /> �uid premises durine �uch time ��Q�e indebtednes�shall remain tinn.derlere all sumc secured hereby immedintely due und payabla
<br /> unpaid,ond Ihc Lende�shal) Na�•c power tu appoint un�•agent or Not��•ithstanding thc faregoing, thls option may not be exercised
<br /> ogenls it mAp desire for�hc pur�x�sc of repairing said premises and by �hc l.ender or the holder oP the note when the ineligibility for
<br /> af renting 1hr came�nd collecting the rents. re�•enue� and income, insurance under the Naiional Housing Act is due�o the Lender's
<br /> and it muy pa>• uut af caid inram��all expenses of repairing said failure to remit the mortgage insurance premium to the Depart-
<br /> premises and necessar�• cammissions and expenses incurred in rent- ment af Housing and Urban De��eopment.
<br /> ing and managing the came and of collecting rentals theref�am;
<br /> Ihe balancc remaining. if an�•, ta be applied to��•ard the discharge 13. That if the Borro��•er Pails tp make any payments of money
<br /> of iaid indebtedness. .�•hen the same become due, or fails to conform to and comply
<br /> .�•ith any of'the conditions or agreements contained in this instru-
<br /> 8. That the Borro�ti•er�vill keep the impro�•ements no��•existing ment,�r the note��•hich i[secures. then the entire principal sum
<br /> or hereaf'ter erected on the propeny, insured as may be required and accrued inte�est shall at once become due and payable, at the
<br /> from time to time by the Lender against loss by �re and other election of the Lendcr.
<br /> nazards,casuatties and contingencies in such amounts and for such
<br /> periods as may be required by the Lender and u•ill pay promptly, Lender shall gice notice to Borrow•er priar to acceleration
<br /> when due. any premiums on such insuram-e provision i'or payment follo��ing Borro�ver's breach oP any co�•enant or agreement in this
<br /> of which has not been made hereinbefore.All insurance shall be instrument (but not prior to acceleration under paragraph 12
<br /> earried in companies appro�•ed by the Lender and the policies and unless applicable la«•pro�•ides ochen��se). The no�ice shall specify:
<br /> renewals thereof shaU be held by the Lender and have attached (a)the default; (b) the action required to cuTe the default; (c)a
<br /> thereto loss payable clauses in favor of and in Porm acceptable to date. not less than 30 da}�s from the date the notice is gicen to
<br /> the Lender. In event of loss Borrower ���ill gi��e immediate notice Borro�cer,by��•hich the default must be cured; and (d)that failure
<br /> by mail to the Lender. wha may make proof of'loss if not made to cure the default on or before the date specified in the notice
<br /> promptly by Borrower, and each insurance comgany concerned is may result in acceleration of the sums secured by this instrument ' '
<br /> hereby authorized and directed to make pa�Tnent for such loss and sale of the Propeny. The notice shall further inform Borrower �
<br /> directly to the Lender instead of to the Sorrou•er and the Lender of the right to reinstate a4ter acceleration and the right to bring a '
<br /> jointly. and the insurance proceeds, or any part thereof, may be court action to assert the non-existence of a default or any other
<br /> ?i�'^�!'=� �'Y ��p '��Af �I IIS o�tian e:he: :u.:�c re�uctian oi ti,c uc�rn�r vi Borrow�er co acceieracion and sate. If the defauIt is not !-.�`f
<br /> Indebtedness hereby secured or ca the restoration or repair of the cured on or before the date speci�ed in the notice, Lender at its � ::�`'
<br /> property damaged. ln event of foreclosure of this instrument or option may require immediate payment in full of all sums secured
<br /> other transfer of title to the mortgaged property in extinguishment by this instrument without further demand and may invoke the �
<br /> of the indebtedness secured hereby,all righe, title and interest of po«•er of sale and any other remedies permitted by applicable law. s `
<br /> the Bonower in and to any insurance policies then in force shall Lender shaU be entitled to collect all expenses incurred in pursuing
<br /> pass to the purchaser or grantee. the remedies provided in this paragraph 13, including, but not •
<br /> lirnited to,reasonable attomeys' fees and costs of titte evidence. • -
<br /> 9. That as addiiional and collateral securin•for[he payment of •i
<br /> the note described,and all sums to become duc under this instru- lf the po�cer of sale is im�oked, Trustee shall record a notice of '
<br /> ment,the Borrower hereby assigns to the Lender all profits, default in each county in which any pact of the Property is located
<br /> revenues,royalties, rights and benefits accruing to the Borrower and shall mail copies of such notice in cDte manner preseribed by
<br /> under any and atl oil and gas leases on said premises. with the applicable law to Borrow•er and to the other persons precribed by
<br /> • right to receive and receipt for the same and apply them to said applicable law. After the time required by applicable la�v, Trustee
<br />: indebtedness as w•etl before as after defaule in the conditions of shall give public notice of sale to the persons and in the manner {
<br /> this instrumrnt, and the Lender may demand, sue for and reco�•er prescribed by applicable lax•. Trustee, without demand on Bor• �
<br /> any such payments when due and payable, but shall not be re- row�er,shall sell the Property at public auction to the highest bid-
<br /> quired so to do. This assignment is to terminate and became null der at the time and place and under the terms designated in the �1:,.
<br /> and void upon reiease of this instrument. notice of sale in one or more parcels and in any order Trustee ����
<br /> �.�;
<br /> determines.Trustee ma� postpone sale of all or any parcel of the ;;�-
<br /> ]0. That the Borrower will keep the buildings upon said premises Property by public announcement at the time and place of any
<br /> in good repair, a�id neither commit nor permit waste upon said pre�•iously scheduled sate. Lender or its designee may purchase the
<br /> land,nor suffer the said premises to be used for any unlawPul Properry at any sale.
<br /> purpose. .
<br /> Upon receipt of payment of the price bid, Trustee shall deliver
<br /> 1]. That if the premises, or any part thereof,be condemned to the purchaser Trustee's deed conveying the Property. The
<br /> under the power of eminent domain, ar arquired for a public use. recitaLs in the Trustee's deed shall be prima facie evidence of the
<br /> ths damages awarded, the proceeds for the taking of, ar the con- truth ot'the statements made therein. Trustee shall apply the pra
<br /> . sideration for such acquisition. to the extent of the full amount of ceeds of the sale in the following order: (a)to all expenses of the
<br /> � indebtedness upon this instrument and the note which it is given to sale, including, but not timited to. Trustee's fees as permitted by
<br /> secure remaining unpaid,are hereby assigned by the Barrower to applicable law and reasonable attorneys' fees; (b) to all sums
<br /> the Lender, and shap be paid forthwith to said Lender to be ap- secured by this Security Instrument: and (c)any excess to the per-
<br /> plied by the latter on account of the next maturing installments af son or persons legally entitled to it.
<br /> such indebtedness.
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