89107015 - Laserfiche WebLink

Browse

-�� �� _ I � i � ! ; 89- i 0'�01� � made shall be addeci ta thc priacipal sum owing on the above 12_ Thc Borro�ver Furthct agrees that should this insttument and notr,shall bc scn�;ca hereby. und shall t►ear interest at the rate set the note seaired herehy not be eliglbk Eor insurance undcr the Na- iorth in the said note,until paid. tional Hausing Act within eight months from the date hereof (writtcn statement af any aifioes of the Depanment of Housing 7. TAat the Bonawer hereby assigns. transfers and sets over to and Urb�u�DrvcIupn�c.�t or aatlwriz�,tl agcnt of thc 5ecrtaty ot' the l.ende�. fo be applied toward the payment ai'thr note and sU Housing and Urban Development dated subslquent ta the eight sums secu�ed hereby in ca.te af a default in the perfarmance of months' time i'rom the date of this instrument, declining to insure sny oi the terms and conditions of thls instrument or the said said rtote and this mortgsige.being dernxd conclusive proof of note,all the rents,�evenues and lnrnme ta be derived from the such ineligibility), the Lsnder or holder oP the note may,at its op- said prtnnises during such time as the indebtedness shaU rtmain tion, declare all sums secured hereby immodiate/y due and payable. unpaid.and the Leader shall have power to appoint any agent or Notwithstanding the fwrgoing. this option may not be exercised aamts it may desirc for the purpose af rcpairing said prcmises and by the Lender or the l�olda of the note when the inciigiDility for of renting the same and rnUecting ehe rents.revenues and income, insurance under the Natio�l Hou.tina Act is dae to the Lender's and it may pay out of said incomes all expenses of re�airing said failure to remit the mortas�ge inswanoe premium to the Depart- premises and necessary commissions and expenses incurred in rent- ment of Housing and Utban Deveopmmt. ' ing and managing the same and of coUeeting rentals therefrom; the�aiance remaining,if any. to be applied to�vard the dischazge 13. That if the Borrower faits to make any payments of money of said indebtedncss. Khen the same become due.or fails[o conform to and comply with any af'the conditions or�greemrnts mntained in this instru- 8. That the Sorrower will keep the improvemenu now caeisting ment, or the note which it secures.then tht eatire principal sum on c�reai'ter erected on the praptrty,insured as may be required and accrued interest shall at once become due and payable,at the from timo to time by the l.ender against loss by fire and other election of the Lender. Iwards,casualties and contingencia in such amounts and for such periods as may be required by the Lcnder and will pay promptiy. Lender shall gi�•e notia to Bonowe� prior to acceleration when due. any preminms on such insurance provision for payment following Borrow•er's bratch of any covenant or agrament in this of which has aot been made hereinbefore. AU insurance shall be instrument(but not prior to accekration under parag�aph 12 arried in companies approved by the Lender and the policies and unless applicable law provida otherwise).The notice shaU specify: rmewals thereof shall be held by the Lender and have Attached (a)the default; (b)the action requi�ed to cure the default: (c)a tfiereto loss payable clxuses in favor of and ir� form acaptable to date, not less than 30 days f�om the date the notice is given to the Lender. In event of loss Horrower will giwe immtdiate notice Borrawer,by which tht dtfault must be cured: and(d)that failwe by mail to the Lender, who may make proof'of Ioss if not raade to cure the dtfautt on or before the date specified in the notice - promptly by Borrower. and each insurance company concerned is may result in acceleratioa of the sums sawed by this instrument • � hereby suthoriud and directed to make payment for such loss and sale of the Property. The notia shall further inform Borrower , directly to tho Lender instead of to the Borrower and the Lender of the right to rcinslate after acoekration and the right to bring a : jointly.and the insurance proeeeds. or any patt thereof,may be court action to assert the non�cistenoe of a default or any other ; . - 'Fi��l::C�!»* !:S��`!S^^�I�!!�i�i.�!! rklLMjnn nf th� rtefencc�f Rnrrnwet to eooeleYatiOn and ssk.I�the def3ulI is IIOt r_-�..z indebtodness hereby secured or to the rest�ration or repair of the cured on or beforc thc date spccifiod in the notia, Lender at its �..;T-' property damaged. ln event of foreclosure of this instrument or option may reauire immodiate paymrnt in full of a11 s�ims secured : other transfer of titic to the mortgaged propeny in extinguishment by this instrument without further drn�and and may invoke the of the indebtedness secured hereby, all right, citle and interat of power of sale and any otlx� rem�dies permitted by applicable law. � the Borrower in and to any insurance policies then in force shall Leader shail be entitlod to coUoct all expertca incurred in pursuing pass to the purchaser or granta. the remedies provided in this paragraph 13, including, but not — limitod to,reasonabk attomeys' fas and costs oi title evidena. i ;' 9. That as additional and coAateral security for the payment ot ' the note described.and all sums to become due under this instru- IP the power oi sate is invoked,TnLSta shaU record a notice of '��` ment,the f3orrower hereby assigns to the Lender all profits, default in each munty in which aay part of the Property is located rcvenues, royalties, rights and benefits accruing to the Borrower and shall mail copies of such notia in the manner prescribed by , under any aad ali oil and gas leases on said premises, with the applicable law to Boaower and to t6e other persons precribed by right to roaive and reoeipt for the sanue and apply them to said applicable law. After the time requ'ued by applicable law, Trusta indebtedness as well before as afta default in the eanditions of shall give public notioe of sak to the persons and in the manner this instrument.and the Lender may demand. sue for and recover prescribed by appGcabk taw.Tnutee,without danand on Bor- i � any such payments when due and payable, but shaU not be ra rower.shall sell the Property at pubiic auction to the hlghest bid- . � quired so to do. This assignment is to terminate and ba:ome null der at the time and plaoe and under the trnns designatod in the and void upon release of this instrument. notice of sale in ane os more parals and in any order Tnutee � determina.Trustce may paupone sale of all or any parcel of the !' 10. That the Borrower wiU kap the buildings upon said premises Propeny by public armounoement at the time and place of any � �� in ga+d repair,and neither commit nor permit waste upon said previously scheduled sak. Lender or its designea may purchase the tand. nor suffer the said prert�ises to be used for any unlawfui Property at any sale. PurPose- Upon receipt of payment of the price bid,Trustee shall deGver 11. That if the premises.or any pan thereof. be condr.mned to the purchaser Trusta's deed oonveying the Property.The undtr ihe power of eminrnt dom�in.or acqaired for a public use, recitats 9n the Trustee's dad shall be prima facie evidence of the t3�e Qamages awarded,the prooeeds for the tatcing of.or the wn- truth of the statements made therein. Tn�sta shaii apply the pro- sidetation for such aoquisiYan,to the extent of the full amount of ceMs of the sale in the folluwing order: (a)to all expenses of the �' indtbtedness upon this instrument and the note which it is given to sale, inciuding, but not limited to.Tnuta's fees as permitted by secure remaining unpaid,are hereby assigned by the Borrower to applicable law and reasonabk attorneys' fees;(b)to all sums the Lender.and shall be paid forthwith to said Lender to be a� savred by this Security Instrument;and(c)any excess to the per- plied by the latter on aaount of the next maturing installments of son or persons legally entitled to it. such indebtedtkss. . � . Pa�e 3 ot 5 r } IiUD�92143DT - -' i � � • � J ,. � --__ . �� Y., .. _