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<br /> � made,hall he added ti�thc prin�ipal ,um �,��ine on ►hc ab���r 12. ihe Burro��er tunhcr a�:�re. that �hould thi� in,trument and
<br /> no1e, �hall I�e te�iirctii here;+y, a�t�! ,hall he•ar intcrc,t at ilic �ate�et thr nnte �ttiurcd tF�irby n��t hc digit+le lur intiura�tce undcr the Na-
<br /> fonh in the caid natc, until pa�d. tional Huusing Act ��ithin eight month� Irum the date hercof
<br /> I���itten statement of any officer of' thr Department of Hausing
<br /> 7. That the Borrowcn c��cb�•as�igns, trancfrrs and �et� mer tn and Urban Deeelopmrnt or authorized agent of the Secretury of
<br /> the Lender, to be applied to��ard the pa>•ment of thc note and all Nou�ing aod Urbaa De�elopmeot dated subsequent to the eight
<br /> , sums secured hereb>� in case of a default ia the perlbrmance of months' Iime from the date of this instrument. declining to insure
<br /> any of'the terms and conditians oi'thi�instrument or the said c�id note and this mortgage, being�ieemed conclusi�e proof of
<br /> nate. aU the rents,reaenues and incame to be deri�ed from the �uch ineligibilit)•), the Lende�or holder of the nate may. at its op-
<br /> said premises during such �ime as the indebtednesc shall remain tian, declare all sums secured hereby immediately due and payable
<br /> unpaid. and the Lender shall ha�•e po�ccr ta appaint an>• agent or Not��ithstanding the foregoing, this aptian may not be exercised
<br /> agents it may desire for the purpo�e�f repairing said premise�and b>• the Lender ar the holder of the note�vhen the inelisibility for
<br /> of renting the same and collecting the rentc, recenues and income. insurance under the National Housing Act is due to the Lender's
<br /> and it may pap aut of taid incomes all e�cpensea of repairing said failure to remit the mortgage insurance premium to the Depan-
<br /> premises and necessary cammissions and e�penses incurred in rent- ment of Housing and Urban Ue�•eopment.
<br /> ing and managing the same and af colleciing renials therefrom;
<br /> the balance remaining, if am•, ta be applie�+to���ard the discharge 13. That if the Borra�cer fails to make anp pa}•ments of money
<br /> af said indebtedness. ��hen the same become due, or faila to conform to and comply
<br /> �.•ith am of the conditians�r aereements mnt�ined in thic in�tru-
<br /> 8. That the Borro��•er�vill keep the impro�•ements no«• existing ment.or the note�Lhich it �ecures, then the entire prineipal sum
<br /> or hereaf'ter erected on the property, insured as may be required and accrued interest shall at once become due and pa)�able, at the
<br /> from time to time by the Lender against los� b�• fire and other rlection ot'the Lender.
<br /> hazards. ca�ualties and contingencies in auch amounts and for such
<br /> periods as may be required by the Lende� and ��•iU pay promptl5•, Lender shall gi��e notice to Borro��er prior to acceleration
<br /> - ��hen due. any premiums on such insuranre pro�•ision for paymcnt t'ollo��ing Borro���er's breach of any cocenant or agreement in this
<br /> of�vhich has not been made herei�before. All insurance shall be inscrument Ibut not prior to acceleration under paragraph 12
<br /> carried in companies approved by the Lende� and the policies and unless applicable la��� pro.ides uther«�ise). The notice shall speeify:
<br /> renewals thereof shall be held by the Lender and ha�•c attached (al the default; (b3 che a.�ion requi�ed to cure the default: (c)a
<br /> tfiereto loss payable clauses in favor of and in form acceptable co date, not less ihan ?��'ays Prom the date the notice is gi�•en to
<br /> the Lender. In e��ent of loss BorroH�er a•ill gi�e immediate notice BorroN�er, by which the default must be cured:and ld)that failure
<br /> by mail to the Lender, �cho may make proof of loss if not made to cure�he default on or bePore ihe date speci�ed in the notice
<br /> promptly by Borro�ser,and each insurance company concerned is may result in acceleration of the sums secured by this instrument
<br /> . hereby authorized and directed to make payment for such loss and sale of the Property. The notice shal! further inform Borrower
<br /> directl}• to the Lender instead of to the Borro��er and the Lender of the right to reinstate after ac�:eleration and the right to bring a
<br /> jointiy, and the insurance proceeds,or any part thereof, may be court action to assert the non-existence of a default or any other
<br /> applied h� the l.ender at its ontion either to the redaction of thc deiei�se of Sa�rowe: iv acceleration and salr. lf thc dcfault is not ' �-
<br /> indebtedness hereby secured or ro the restoration or repair ot the cured on or bet�ore the date specitied in the notice, Lender at its ;
<br /> propert�• damaged. In e�ent of foreclosure of this instrument or option may require immediate payment in full of all sums secured
<br /> other transfer of title[o the mortgaged property in extinguishment by this instrument �cithout further demand and may in�•oke the
<br /> of the indebtedness secured hereby, all right, title and interest of po«•er of sale and an� other remedies permitted by applicable law. __
<br /> the BorroN�er in and to any insurance policies then in force shall Lender shall be entitted to collect all expenses incun•ed in pursuing =
<br /> pass to the purchaser or grantee. the remedies procided in this paragraph 13, including, but not .==
<br /> limited to, reasonabte attorneys' fees and costs of title evidence. � �
<br /> 9. That as additional and collateral securiq• for the payment of �
<br /> the note described,and a31 sums to become dur under this instru- lf the pow•er of sate is im•oked, Trust�ee shall record a notice of ;
<br /> ment,the Borrower hereby assigns to the Lender all profits, default in each county in w•hich any pan of the Propeny is located
<br /> revenues,ra�•alties, rights and benetits accruing to the Borrow�er and shall mail copies of such notice in the manner prescribed by
<br /> under any and all oil and gas leases on said premises, a•ith the applicable laa•to Borro�cer and to the other persons precribed by t
<br /> right to receive and receipt for the same and apply them to said applicable law. Af[er the time required by applicable la�ti•,7'rustee �
<br /> indebtedness as well before as after default in the conditions of shaU give public notice of sale to the persons and in the manner r r
<br /> � this instrument,and the Lender may demand, sue for and reco�•er prescribed by applicable laa•. Trustee, w•ithout demand on Bor- �• •
<br /> any such payments H•hen due and payable, but shall not be re- rower, shall sell the Property at pnblic auction to the highest bid- °`�'� •
<br /> quired so to do. This a5signment is to terminate and become nuli dcr at the time and place and under the ternts designated in the
<br /> and void upon release of this instrument. notice of sale in one or more parcels and in any order Trustee ;:�`�
<br /> determines. Trustee may postpone sale af all or any parcel af the ' .
<br /> 10. That the Borrower will keep the buildings upon said premises Property by public announcement at the t�me and place of any - ,
<br /> in good repair,and neither commit nor permit a•aste upon said pre��iously scheduled sale. Lender or its designee may purchase the . .
<br /> (and. nor suffer the said premises to be used for any unlaw•ful Propeny at any sale.
<br /> purpose.
<br /> Upon receipt of payment of the price bid, Trustee shall deliver
<br /> l l. That iP the premises,or any part thereof, be condemned to the parchaser 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 shall be prima facie evidence of the
<br /> the damages awarded,the proceedc for the taking of, or the con- truth of the state�ner�t�made therein. Trustee sha(1 apply the pro-
<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 a•hich it is gi��en to sale. including, buc not limited to. Trustee's fees as permitted by
<br /> secure remaining unpaid, are hereby assigned by the Borrow•er to applicable law and reasonable attorneys' fees; �b) to all sums
<br /> the l.ender. and shall be paid forthwith to said Lender to be ap- secured by this Security lnstrument; and (c)any excess co the per-
<br /> plied by the lattzr on aceount of the next maturing installments of son or persons legally entitled to it.
<br /> such indebtedness.
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