89106906 - Laserfiche WebLink

Browse

:� � � � - --------�—--—__._--- — ----S�.d,,. 1�� apply them ta suid indebtcdncs�as well t►efiire as�fae�default in thc condilians�i this instrument. and thc Lender may de• mund, sue for nnd recover a�y such payments��hen due and payuble. b��t shall not be requircd so ta do. This assignmcnt is to termioate and hecume nult und vuid upon releuse of this inst�ument. r t0. That thc Bcirrawer►�ill keep the huildings upon said pnmiscs in g�xx1 reprir,und neithcr cammit aar perniit waste Iupan s�id land. nor suffer the said premises to be used for any unlawfu! purpase. 11. That if the premises,ar any part thereof.be condemned under the power of eminent domain�ar ucquired for a public use,the damages awarded, the praceeds for the taking of,or the cansideration for such ucquisitian,to the extent af the full amount of indebtedness upon this instrument and the note which it is givcn ta serure remainins unpuid.are hereby assigned by the Sarrower to the Lender.and shall be paid forthwith ta said l.ender to be applied by the latter on account of the next maturing insta0ments of such indebtedness. i 12. The Borrower further agrccs that shmuld this instrument and the note secured hereby nat be eligihle far insurance � . under thc National Hausing Act within eight inanths from the date hereof(written statement of any ufficer of the Depanment i af Housing and Urban Development ar authorized agent of the Secretary of t�ousing and Urban De�•etopment dated subse- quent to the eight manths'time from the date of this instrument,declining to insure said note and this mortgage.being deem- , ed rnt�ctusive praof uf such ineligibiliry).the Lender or holder of the note may,at its option,declure all sums secured hereby ' immediately due and payable.Notwithstar,ding the foregoing.this optian may not be exercised by the Lender or the holder I of the note when the ineligibility far insuranre under the National Housins Act is due to the l.ender's failure to remit the I mortgage �nsuranee premium cu�i►e Deparuue«i ui' rivu�iug a��d L'�Lw,� Dcti�c2apra�n:. �I 13. 't'hat if the Borrower fails to m�ake any payments of money when the same become due.or fails to conform to and f comply with any of the conditions o�ag�eements ccmtained in this instrument.nr the note which it secures,then the entire principal sum and accrued interest shall at once become due and payabte, at the electian af the l.ender. � l.cnder shall give natice to Borrower priar ta ucceleration following Borrower'x breach of any covenant or agreement ; in this instrument(but not prior to s�ccelerration under paragraph 12 unless applicable law provides athcrwise). Thc notice � shall specify: (a)the default; (b)the action required ta cure the defaulr(c)a date, not Icss than 30 days fram the datc thc � notice is given to�onower, by which the default must be cured: and (d) that failure ta cure the default on nr befnre the • • date specified in the notice may result in acreleration of the sums secured by this instrumcnt and sale of the Property. The ? natice shall further inform Barrower of the right to reinstate after acceleration and the right to bring a court action to s►ssert I the non-existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or ! before the date specified in the notice. l.ender at its option may require immediate payment in full of all sums secured by ; ; ' i�iiS iiibiida:i�,:fi kia:�O::f Fi2K.�:�t�C�^O!!�3!:`{ S!!3� !ilyQ�s+rhp�swPr nf calP an�1 an� other remedies nermitted by aoplicable � `.___ law. Lender shall be entitled to collect ail expenses incurred in pursuing the remedies provided in this paragraph 13. in- � . � cluding. but not limited to, reasonable attorneys' fees and costs af title evidence. � ; If tite pawer of saie is invukr,�,Truatee�hall record a natice oidefault in ezch wunty in which any part of the Property i - - is located and shaU mail copies of such notice in the manner prescribed by applicable law to Borrower and to the ather persons a • — prescribed by applicable law.After the time requireci by applieable law,Trustee shall give public notice of sale to the persons �:'"_ , and in the manner prescribed by applicable law. Trustee, without demand on Bonower. shal! sell the Properry at public . ' auction ta the highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels ; and in any order Trustee determines.Trustee may postpone sale of all or any parce!of 3he Propeny by public announcement at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at any sale. ; . Upon receipt of payment of the price bid,Trustee shall deliver to the purchaser Trustee's deed conveyiag the Property. `� The recitals in the Trustee's deed shall be prima facie evidence of the trvth of the statements made therein. Trustee shall � . apply the proceeds of the sale in the following order:(a)to all expenses of the sale.including,but not limited to.Trustee's �� : fees as permitted by applicable law and reasonable attorneys'f�ees;(b)to all sums secured by this Security Instrument;and � "�' (c)any excess to the person or persons legally entitled to it. 14. Upon acceleration under paragraph 13 or abandonment of the Property, Lender(in person,by agent or by judicially appointod teeeivcr)shalf be eneitled to enter upon, take possession of and manage the Pcoperty and ta coltect the rents of the Property including those past due. Any rents collected by Lender or the receiver shall be applied first to payment of the costs of management of the Property and collection of rents, including. but not limited to, receiver's fees. premiums oa receiver's baads an� reasonable attomeys' fees. and then to the cums tecured by this instrument. 15. Upan payment of a11 sums secured by this instrument.Lender shall request Trustee to reconvey the Property and shall surrender this instrument and all notes evidencing debt secured by this instrument to Trustee. Trustee shall reconvey the Properry without warranty and without charge to the person or persons legally entitled to it. Such person or persons shaq pay any recordation costs. 16. Lender.at its option. may fron�time to time remove Trustee and appoint a successor trustee to any Trustee appointed ;-- �— hereunder.by an intrument recorded in tite county in which this instrument is recorded. Without conveyance of the Praperty, the successor trustee shall succeed to a!1 the title,power and duties eonferred upon Trustee herein and by applicable law. 17. Bonower requests that copies of the notices of default and sale be sent to Borrower's address which is the Property Address. � � 1 S. If une or more riders are eaecuted by Barrower and recorded together with this instrument,the covenants and agreemenls of each such rider shal)be incorporated into and shall amend and supplement the covenants and agreements of tfiis instrument � ti as if the ridct(s) were a Qatt of this instrument. � 19. 'l�he covennnGs herein contained shall bind. .ind the benefits and advantages shall inure to. the respective heirs, ca- . `'� erutors,administraturs,�uccessors,Und as5igns of the pames hereto. Whenever u5ed. the s�ngular numher sh�ll include thc plural, the plurol the singular, and Ihc uae ��f any gender tihall include all gendcr�. t�p�'}c,t 4 i r�rrn NUD�921�3 OT Nnv ;�ftf1 1,1�'� '�