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<br /> madr .hall be addrd ro thc•principal�um o��uig on �hc aho�c i_. Thc 8����u�.r� fwih.�� a.�«, that ,n;,�aa �n�< <n�trun�ttu ��,a
<br /> n��tr. ,{�all be�c�.ucrd he*�bp. and �h,il br.►r nitrir.t .�I th� rate sct thc note �ecured I�rreh> not br chFihle 1'��r m.u�anre undcr the Na•
<br /> I farth in the said nate, until �ud. tional Noucing A.t ��ithin right mi�n�h� Irom the date herec�i' �
<br /> (��rittcn sta�cmcnt of am• afficer c�t thr Drpartment of Nousing
<br /> 7. That the Rcirro�cen c�reby a�signs, uan�fe�ti a�id set�o�er �o and Urban Oecclupment or authorizcd agent oi�the Se�:retu�y af
<br /> the Leudc�, ta be appiicd tu��ard the pay�ment of thc notc:znd at! liausing and Urban Qeccl�pment dated subsequent to the cight
<br /> sums �ecured hereby in case of a de(nult in the Ferformance of mon�hs' time fram tl�r date oP this instiument, declining to insure
<br /> any of'the terms and conditions af this instrument ar�he said .aid nate and this mortgage,being deemed conrlusive proof oi
<br /> note. all the rents, re��enues and income to be deri��ed from the tiuch ineligibilityl, the Lender or holder of the note maX.at its op-
<br /> said premises during such time as the indebtednexs shall remain tion, declare all �ums secured hereby immediately due and payat+le.
<br /> unpaid. and the Lender shall ha�•e po���er to appoint any agent or Natwithstanding the t'a�egoing, thic option ma} nat be exercised
<br /> agents it may desirc Por the purpase of repairing said premi�es and by the Lender or the holder oi' the note a•hen the ineligibility f'or
<br /> of renting the same and rollecting the rents,re��enues and income, insurance under the National Housing Act is due to the Lender's
<br /> and it may pay out of said incomes��!e�pen�es of repairing �aid failure ta remit the mortgage insurance premium to the Depart-
<br /> premises and necessary commissions and expenses incurre�l in rent- ment of Housing and Urban De�•eopment.
<br /> ing and managing the same and of collecting rentals the:efrom;
<br /> the balance remaining, if any, to be applied to��ard the discharge 13. That iP the Borro���er fails to make any paymencs of money
<br /> of said indebtednecs. ��•hen the same become due,or fails to conPorm to and compty
<br /> ��•ith any of the conditions or agreements comained in this instru-
<br /> 8. That the 8orro��•er �cill keep the impro�•ement� no�v existing ment,ar the note �vhich it secures, then the eniire principal sum
<br /> or hereafter erected on the propeny, insured as may be �equired and accrued iaterest shaU at once become due and payable. at the
<br /> from time to time by the Lender against loss by tire and u�hrr rlec►i���vf Q�c Lc��1::.
<br /> hazards. casualties and contingencies in such amounts and for such
<br /> periods as may be required by the Lender and ���ill pay promptly. Lender shall gi��e notice to Sorro���er prior to acceleration
<br /> when due.any premiums on such insurance provision for pa}'ment foUo��inG Borro�ver's breach of an�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 /> car�ied in companies appro��ed by the Lender and ehe palicies and unless applicable law pro�•ides otherw•ise). The notice shal) specify:
<br /> renewals thereof shall be held by the Lender and hace attached (a) the default; (b)the action required to cure the default; (c)a
<br /> thereto loss payable clauses in favor of and in form acceptable to date, not less than 30 days from the date the notice is given to
<br /> the Lender. ln event of loss Borro«•er H•ill gi�•e immediate notice Borroµ•er.by ��hich the dei'ault must be cured; and(d)that failure
<br /> by mail to the Lender, Hho may make proof of loss iP nat made to cure the default un or before the date specified in the notice
<br /> promptlp by Eorrower, and each insurance company concerned is may result in acceleration oP the sums secured by this instrument
<br /> hereby authorized and directed to make payment for such loss and sale of the Propeny. The notice shall further inform Borrower .
<br /> directlp to the Lender instead of to the Borro�ti•er and the Lender oi'che right to reinstate afcer acceleration and the right to bring a ,
<br /> jointly. and the insurance proceeds,or any part thereof, may be coun action to assen the non-existence of a default or any other
<br /> applied by the Lender at iu option either to the reduction of the defense oP Bo�rower to acceleration and sale,.If the default is not •
<br /> indebtedness hereby secured or to the restoration or repair of the cured on or bef'ore the date speci�ed in the notice. Lender at its
<br /> �rcy.;t3�;ass�g�. }.^.:•�:�s ssf f�recl�surp e£ rr�� inctT�imrnt nr opciun may require immediate DaYment in fuU of all sums secured t_ ___
<br /> other transfer of title to the mortgaged property in extinguishment by this instrument �vithout further demand and may invoke the . _
<br /> of the indebtedness secured hereby,all right, title and interest of power of sal�and any other remedies permitted by applicable law.
<br /> the Borrower in and to any insurance policies thea in force shall Lender shall be entitied 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 /> limited to,reasonable attorneys'fees and costs of title evidence.
<br /> 9. That as additional and collateral security for the payment of • �
<br /> the note described,and all sums to become due under this instru• if the pow•er of sale is im�oked, Trustee shall reeord a notice of _
<br /> ment,the Borrower hereby assigns to the Lender all profits, default in each county in which any part of the Property is located a .
<br /> revenues, royalties, rights and benefits accruing to the Borroa�er and shall mail copies of such notice in the manner prescribed by
<br /> under any and all oil ac:3 gas leases on said premnses,with the appticable law to Borro�ver and tu the other persons precribed by —
<br /> right to receive and receipt for the same and apply- them to said applicabte law. After the time required by applicable law. Trustee .
<br /> indebtedness as well before as after default in the conditions of shall give public notice of'sale to the persons and in the manner �
<br /> this instrument, and the Lender may demand, sue for and reco�er prescribed by applicable law. Trustee, without demand on Bor- ► -
<br /> any such payments when due and payable,but shall not be re- rower,shall sell the Propeny at public auction to the highest bid• ; ;���
<br /> quired so to do. This assignment is to terminate a�d become null der at the time and place and u��er the terms designa:ed in the jy,
<br /> and void upon release of this instrument. notice of sale in one or more parcels and in any arder Trustee
<br /> determines. Trustee may pestpone sale of all or any parcel of the ;,�i'
<br /> 10. 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, and neither commit nor permit�vaste upon said previously scheduled sale. Lender or its designee may purchase the �
<br /> land.nor suffer the said premises to be used for any unlawful Property at any sale.
<br /> purpose.
<br /> Upon receipt of payment of the price bid. Trustee shall deliver -
<br /> 11. That if the premises, or any part thereof,be cortdemned to the purchaser Trustee's deed conveying the Property. The
<br /> under the power of eminent domain, or acquired for a public use, recitals in the Trustee's deed sha11 be prima facie evidence of the
<br /> the damsages awarded, the proceeds for the taking of, or the oon- truth of the state�nents made therein. Trustee shall apply the pro-
<br /> sideration for such zcq�isition,to the extent of tE;e fuli amount of ceeds of the sale in the following order: (a)to all expenses of the
<br /> indebtedness upon this instrument ar.d the note«�:sich it is given to safe,inciuding, but not limited to,Truste�'s fees as permittcd by
<br /> secure remaining unpaid, are hereby assigned by the Borrower to applicable!aw and reasonable attorneys' fees; (b) to all sums
<br /> the L.ender,and shall be paid forthw-ith to said Lender to tse ap- secured by this Security Instrument; and (c)aay exeess to the per-
<br /> plied by the latter on account of[he next maturing installmencs of son or persons Iegally entiilec! to it. �
<br /> such indebtedness.
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