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<br />m..H..k ...hall be added In lhe l"'lrll1(lpal ....lUll l)\\lIlg on the abu\\:
<br />nOle, shall be secureu hl'rd'\. allll ,hall bear IIItcceq at Ihe rail' sel
<br />forth In Ihe 'illU nOle, until paid
<br />
<br />Thal [11,_' Bono\\er helchy a\l.,lglh. transfer... and set... ll\Cr ft)
<br />Ihe Lenuer, 10 be apphcd 1,)\\arU Ihe payment of Ihl' nOle anu all
<br />sums secureu hereby In ,'ase 01 a udault In Ih,. performance of
<br />any of the lerms and condllion, of Ihis Instrument or Ihe said
<br />note. alllhe rents, re\enUe' anu 1I1L',>me 10 be ucri\ed Irom Ihe
<br />said prenmes uuring ,uch time ,h Ihe llldebledne\\ shall remain
<br />unpaid, and Ihe lender ,hall ha\ e power 10 al'p,>itH any agenl or
<br />agetHs it may uesire for Iht' purpose of repairIng ,aid premise, and
<br />of rl~nting lhl' ....:lIne and \:olkl.'ting thl' rent\. n.~\('nues and in\"'LHl1t:'.
<br />and it ma\ pa\ ,llll of ,alu incomes all e\peme, uf repairing ,alU
<br />premi~c\ and ncce.....,ary .....ommi'\~ion\ and cxp~n...t'... lrlcurreu in rent-
<br />ing and managing. [he 'lame and of i..:OIlt'dillg fe-Blah ItL:-efrl)m;
<br />Ihe balance remainlllg, II am. to be "pplieu lo\\ard Ihe uhcharge
<br />of ,aid Inuebtedne".
<br />
<br />H. Thai Ihe Borro\\er \\ III 'eep the 1111pr"'emenh Illl\\ C\!\llng
<br />or hereafrer t:'Tt'\.:tcd OIl (he propen!, IO\UTed ~h rl1a~. he required
<br />from lime [0 lime by Ihe I enuer agam'l lo,s b\ lire anu olher
<br />halard.... \,.-a'lualtie-, and ,.:onlingen('ic\ in ~u('h aI110UI1h and tor '\U,Jl
<br />period, a, ma\ be required b\ Ihe Lenuee and \\ ill pa\ i'rumplls.
<br />\\hell JUl'. an~ premium... 011 \,ul,.'h in...uraIh:t' prtl\j",Joll lur ra~mcnt
<br />1,1 "hich ha, nOI been made hereinbelore .\11 t;1'UranCe shall be
<br />cameu In companll" appro\eu b\ Ihe lenJer ,IDJ Iht PI-,It,I," ;Inu
<br />rene\\al, thereol shall be helu 11\ Ihe Lender 'IIlJ hase ;llIa,heJ
<br />thereto 10"':.. payah1c ..:lall'..e.... in fa\or uf clod in ftnnl ~.h.\...ertJ.hle It'
<br />Ihe lender. In esent of lo~~ Borrlmer \\ill gl\e Immeuiale nOI'(e
<br />hy mall (0 Ihe Lender. \\hl) rnay make prl)O( III :1'...., If Ill'l maUl'
<br />pronlJ1{ I~ b~ Borro\\ er. and e3L'h in'UraIh.'(' ,.:rimp;U1Y 1."i..Hll.'C'rnt:J h
<br />herl'b~ dllthorilcd J.!ld JircL'ted !o rnake payment fur "ul.:h 10"
<br />uirecl" 10 Ihe Lender in\lead 01 10 Ihe BL>rro\\er anu the Lender
<br />joinl", and Ihe insurance prnceeu', ,n ans part there,ll, mas be
<br />applieu bs Ihe Lender al it> oplion eilher I.' Ihe reuuelion l'l Ihe
<br />lndehtedne...~ hereby '\ccured or :0 (he n.~q('lratil.ln I.Jr repaIr of the
<br />property d:lInaged. In esen! 01 foredlhure III 11m lI1\1rument or
<br />olher Iransfer of title to Ihe mOrlgaged palpl'rI\ in e\lingui~hmenl
<br />01 the Indebledness ,ecured herebs, all rlghl. :1I1e anu illlccesl 01
<br />the 13orn)\\cr in and II..l any in'\uratkl' rlllkH.:" thl'(l in fllf\.'C ...hall
<br />pa~., 10 thl' pUfLha"er IJr grantee
<br />
<br />9. ThaI as addilional and collaleral 'edlllls Iln :he paymeTll of
<br />the notl' deSCrIbed. and ali SUlll" t,_) nt'\".'Pllll' dllt' undl"r this instru-
<br />men!. Ihe !lllrrower hereby asst[!ns II> I hl' Lendn all profits.
<br />re\-enue". royal(Je~. nghh and nendll' ~k\..TlIlIlg ILl the Borrower
<br />under ans and all oil and gas lease' IHl ,cud premise~, with Ihe
<br />righl 10 recei\.e anu receipt I'm Ihe ,ame and apph Ihem 10 ,aid
<br />indebtedness as \\ell before a, afll'r default In Ihe conditions of
<br />Ihis imtrument, and Ihe Lenuer noo,\ demand. 'ue lor and reetner
<br />any SUd1 pa\.lllenIS when uue and pasabk. bUI ,hall not be re-
<br />quired so 10 do. This assignlllelll " It) lemUllall' and become null
<br />and s.oid upon release of Ihis in,lrUmenl.
<br />
<br />10, That the Borrower will keep Ihe builuing, upon said premi~es
<br />in good repair, and neilher L")llll1lil nor permll \\aste upon said
<br />land, nor suffer Ihe said premis~s to be u,ed for any unlawful
<br />purpose.
<br />
<br />I I. That if the premises, or any part thereof. be condemned
<br />under the power of eminent domain, or acquired for a public use.
<br />the damages awarded, the proceeds for Ihe laking of, or the con-
<br />sideration for such acquisition, 10 the extent 01 the full amounl 01
<br />indebtedness upon this instrumenl and Ihe note which it i~ given to
<br />secure remaining unpaid, are hereby assigned by the Borrower to
<br />the Lender, and shall be paid forthwith to said Lender to be ap-
<br />plied by the latter on account oi the next maturing installments of
<br />such indebtedness,
<br />
<br />12 Ihe BOlTI>wl'l further agrl'l" Ihal should Ihis inslrumem and
<br />the nole ,ec'ured hl'rebs nOI he ~Iiglble for insurance under Ihe Na-
<br />Iio~al HOUSing AeI wllhin eighl monlhs from Ihe dale hereof
<br />I\\rillen qalemelll elf any officer of Ihe Departmenl of Housing
<br />anu l'rban De\ c10pmenl or aUII'crizeu agent of Ihe Secrelary of
<br />Housmg and l'rbau Des elopmel1l daled subsequelll 10 Ihe eighl
<br />monlhs' lime from Ihe uale of Ihis inSlrumelll. declining 10 insure
<br />,aiu nole and 11m mortgage, being deemed conclusise proof of
<br />,uch meligibilit\.), Ihe Lender or holde~ of Ihe nOle may, at its 01'-
<br />lion. declare all sums ~ecured hereby immedialely due and payable.
<br />"olwilhslandlng Ihe foregoing. Ihis option may not be exercised
<br />b\ Ihe Lender or Ih.: holder of the nole \\ hen Ihe ineligibility for
<br />lI1surance under Ihe "ational Housing ..\ct is due 10 Ihe Lender's
<br />failure 10 rem II Ihe mortgage IIlsurance premium 10 Ihe Depart-
<br />ment of Housing and Lrban De\ eopmenl.
<br />
<br />1.1. Thai if Ihe BLlrrtlWer lails IL> make ans pasmems 01 money
<br />\\ hl'n ,he ,a me bec,lme due, or laih 10 conform 10 and comply
<br />\\ ah an\ ;-,1' 1 he '~'orh.lit ion... t'r agreernenI) ;,::olltained in this instru-
<br />ml'nl, ,)[ Ihe nlHe \\ lllch II ,e,ures. Ihen Ihe entire principal sum
<br />and ;ICCIlll'J Inlete,i ,hall al l'nce become due and pasable, al Ihe
<br />l'kdlOn l>1 :lle Lender
<br />
<br />lender ,kill gl\ l' nnlJ,'e I" ll11rHmer prior 10 acceleralion
<br />fl,Utl\\ lr1t! BllrrlH\l'r', bre~h.'h l)f any (Oq~nalll or agreement in this
<br />:n'irUml'lll iI'Ul 11l1i prll'l It' a,,'c1eration under paragraph 12
<br />"nle" applICable la\\ pl<l\ ILIe, t)lherwi~e). The nOlice shall specify:
<br />I~l) the dcrauh: tbl 'he adll"l requireu to cure Ihe defaull: (c) a
<br />~L.l!c. ih.H k...... !han .~O Jay, frl)!11 the J3.le the no[ice is given to
<br />Ilorr(n'el. t'\ \\ hlch the Jefaull mus! be cured: and (d) thaI failure
<br />il) cure the delaull LlIl llr hcfl)re Ihe dale specified in Ihe notice
<br />nu\ re~lIlt In 3cccleralion 01 Ihe sums .,ecured by Ihis instrument
<br />and ,ale ell iht' Proper". The IWIICe shall further inform Borrower
<br />,>1 ihe right ;,1 reln,lale afler acceleralior: and Ihe righl to )ring a
<br />\".'l)l1F ;lctil)n t(.l a~...crt the non-exi~tefh:e of a default or any other
<br />deleihe of Borr,mer 10 acceleration and ,alc. If Ihe default is no:
<br />c'ured on lH belore the uale specified in Ihe notice, Lender at ils
<br />t1pllon may require immediate paymel1l in full of all ,um' secured
<br />b\ Ihis inslrUmeTll wilhout fur'her demand and may invoke the
<br />power of sale and any mher remedies permilled by applieable law.
<br />Lender shall be enlilled 10 collect all expenses incurred in pursuing
<br />Ihe remedies provided in this paragraph 13, including, but not
<br />Iimiled to, reasonable attorneys' fees and COSIS 01 title evidence,
<br />
<br />If the po\\er of sale is im.oked, Truslec shall record a nOlice of
<br />default in each count~. in which any pari of the Property is located
<br />and shall mail copies of such nOlice in Ihe manner prescribed by
<br />applicable law to Borrower and 10 the olher persons precribed by
<br />applicable law. Afler Ihe lime required by applicable lat\, Truslee
<br />,haB gi'e public notice of sale 10 the persons and in the manner
<br />prescribed by applicable law. Trustee. without demand on Bor-
<br />rower, shall sell Ihe Property at public auction to the highest bid-
<br />der al Ihe lime and place and under the lerms designated in the
<br />notice 01 sale in one or more parcels and in any order Trustee
<br />delermines. Trustee may poslpone sale of all or any parcel of the
<br />Property by public announcemel1l al the time and place of any
<br />pres.iously scheduled sale. Lt'nuer or tis designee may purchase Ihe
<br />ProperlY at any ~ale.
<br />
<br />Upon receipt of payment of the price bid. Trustee shall delisw
<br />10 the purchaser Trustee's deed conveying the Property. The
<br />recitals in the Trustee's deed shall be prima facie evidence of the
<br />truth of the statements made therein. Trustee shall apply Ihe pro-
<br />ceeds of the sale in the following order: (a) to all expenses of Ihe
<br />sale, including, but not limited to, Trustee's fees as permitted by
<br />applicable law and reasonable attorneys' fees; (b) to all sums
<br />secured by this Security Instrument; and (c) any excess to the per-
<br />son or persons legally emitled to it.
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