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<br />88-
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<br />100979
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<br />!"IF' rllf8),:~!:1 0 1 080
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<br />llIade ,hall he added [(\ 11ll' prll1elral ,urn (1Wlllg lHl ihe ab()\e
<br />Iwte, \hall be \eculed hereb\. alld ',hall bear Illlere\t al the rate 'c!
<br />lorth III thc \aid Il()tc, until paid.
<br />
<br />", That the Borrn"er hereby a"lgm, !ran'lcc' and 'eh (1\er II'
<br />Ihe Lendcr, 10 be applied loward the pa\'llIenl of Ihe nllte awl ,III
<br />\UIlI\ 'ecured hereby In ca'e (11 a delault ill the perlormance III
<br />any l)1 thc terill\ alld condllloll' 01 thl' InqrUlllent or the ,aid
<br />Ilotl', all the relll'. re\enue' and InCOllle II' be dcri\ed from Ihe
<br />"lid prellll\e\ dllllllg 'uch lime a' Ihe IIldeblCdnc\\ ,hall rcmain
<br />unpaid, and the Lender ,hall ha\l' power III appoint all\' agenl ()f
<br />ageni\ il Illa) dc\ire for thc purp("e llf repalflr.g \aid prellll,e' and
<br />of renting thc \~lllle and collecllng Ihe rcnt,. re\'enue, and InCllllle.
<br />and it ma\ payout of 'aid income' all e\pen,e\ of repaiflllg ,aid
<br />premise~ and necr:,,')ary \.:orl1rni")~ion~ and cxrense~ ilh.:urreJ in fen!-
<br />ing and Illar.aging Ihe 'a me and Ill' ,olkcting renlah therefrom;
<br />the balance rcmaming. If am, !o be ~Ippllcd !(",.Ird Ihe di,,'!large
<br />of \ald indeblcdlll'"
<br />
<br />('\. rhat Iht..' BOrnn\l"f \\iil h.L'I...'P :11(' Inll'rU\L'T11Cl1h I1ll\\ l''\ht:ng
<br />l1l hereafter nected lHI Ihe Prl'rert\' m,ured 'b ma\' be requ:red
<br />froill tinle III !inlt: t:'l\" Ihe lender again~l k)~, h! fin: and t'lhc:r
<br />ha/~HJ". \."a,ua!t1e, lllld ;.:ol1tingcn..:ier, in \lh.:h ;!IlllHlnh anJ fl1r ,u(h
<br />pellnd, a' Illa\ be reqUired t" the Lender and \\ ili pay pnHnpt!\.
<br />\\ hen dUe. an~ prl'1l1iurn, l)fl 'll\.:h IIhUralh:C pre., j"llHl fl)[ pa~ IIlt:'t1t
<br />1,1 l"I,,'h ha' nOI bl'cn malk herembdore ,\11 II1'ur.ltke ,h,t1! be
<br />...:~trr:l'J III i.-'lllllranlt.." appn.i\cd l"lY the Lt'IlJI'I ~l!ld tht' l""'l1lh.:h.''- .lIh1
<br />rl'lll'\\ a!- t herl'l11 ,hal! hc heiel h\ [he I endl'l .md hay l' ,11 t.1chl'd
<br />;ht'lt'{l) h,)v, payable ...:lau,",t.."... !rl Ll\iJr \.)( and 111 li1!111 ,k....:l'pl.Jj"lk !l'
<br />till' ll'ndl'[. In t'\enl \.If \t"" Bllrrl.)\\er \\J!! gi\\.: ]:nnll'dl~Hl' Ih'!L..I.:
<br />h lllad Il' Ihe Lender, \\h" ma\ lIla~e proc'f "I i"" II Illl, 1ll,Ilk
<br />prl..lfllplh h~ Bl)!TO\\ef. and c(l('h insuralh':c I..\JnlI'(il~~ I..'\.)n(t:'rnl',..! l....
<br />IWld'\ ,1l1lh"lI/ed and directed r" ma~e p~l\men: "'I' 'lI.:h I,,,,
<br />dltl'dh Il' !he I L'nder in...rt:'aJ l'( fO [he Borrcw'l'f .inJ the ICI1J..:r
<br />Illllltl~. ,111\..1 lht' Ifl....uranl..l. Pfl)\.:t't.."J.... ,lr <ln~ pan :!il...'ll'tll. In.t~ be
<br />.lpplll'L1 b\ the Il'nder al ", "plllln e1!her [I' Ihe rl'dlkllon "I' !he
<br />1I11h.'brL'dlll''''' hCfl'l'\ ...L'I..'lHl'J \l[ tp the re.."tOrathJr1 uf repair 1.)( tht.'
<br />prllpL'r1\ ll;.tllldgeJ. In t'\t.."1l1 1.'1 h)rl'~'llhllrl' l)f thi... In...,rfUlllC1H tH
<br />uthel !r,lll,te, III tllk tl) ,hl' 1lll1r1gaged pr"pert\ 1Il e\llngl'l\hmellt
<br />III till' llIlkhedne" 'e'cured hereh, ,111 right. !1I1e and intere'>l III
<br />Ilrc BUI rl)\\e' III .1Ild tu .1m IthUr~llke I"'l'I1,le, then m I"r,'e ,hall
<br />pa\\ III the r'lIr\:h~t't'r dr ~rantt't'
<br />
<br />'I I hal .l' ;lddl'll\l1<lI ~1l1d "l'l\a[nal 'ecurit\ lor the payment "I'
<br />the Tllltl' dl'\\.:nhed. Jilt! .tll SlIlll"-' to hl'V,l!lll' ,jut' undl'r thI"" In..,,tru+
<br />IIll'nt. t iii' Burr"w l't ht'leb) a"lgil' tu the Lendt'l all protlh.
<br />re\enue', I<)\allle', IIgh!\ .Illd be'nelll' a.:crulllg to the BOrrl"\er
<br />under am 'llld all uIi alld ga, ka,e, l)n ';lId prellll\eS, with the
<br />Ilghl tl' re,l'I\l' and rl',elpt 101 the ,allle and apply them to 'aid
<br />lIldebll'dne" ,I' \1 ell bef"re a, afler default in the ,onditions "I'
<br />t hi, in,lrulllent, and Ihe' lender Illa\ demand, ,ue for and re,l" er
<br />any ,uch rayment, \\hen due' and p.l\al'k, but .,hall ne,t be re,
<br />qlJlred '" to dll, fhl' .l'''gnllll'nl I' tll lermlllale and be,ome null
<br />and \oid upon rl'lea,e "I Ihi, IlIqrumenl.
<br />
<br />10, That the Borrow.:r \\ III ~ee'p I he building., upon said prenmes
<br />in good repair, and Ileithn ':l'lllmll n"r permil \\a\te upon said
<br />land, no~ suffer Ihe ,aid prell1l\e' tll be u,ed for any unlawful
<br />purpose.
<br />
<br />II. That if the prenme\, Ill' all) part thereof, be' ,ondemned
<br />under the power of eminent domalll, l)f a,'quired for a publi, use,
<br />the damages awarded, the pro,eeds for the taking of. or the wn,
<br />sideration for such acquisition, to the extent of the full amount of
<br />indebtedness upon this instrument and the note whkh it is given to
<br />secure remaining unpaid, are hereby assigned ll\" the Borrower to
<br />the Lender. and shall be paid forthwith to said Lender to be ap-
<br />plied by the lalter on a,wunt of the next maturing installments of
<br />such indebtedness,
<br />
<br />!2, fhl' [Jorro\\el IUrlher agree' ,hat ,hould tlm m.,trument and
<br />:hl' lI(1te 'ecured heleb\ not be eligible I"r Il1SUr3nce under the Na,
<br />!Iunal Ht1mmg ..\,t \\!Ihm elghl mOlllh., lrom the date hereof
<br />IWTlw:n "atement ,,[ an\ officer of Ihe Department of Housing
<br />and l'rhan De\elopment or authoflled agent of the Secretary of
<br />HlHhing and Lrban De\e1upment dated 'ub,equent to the eight
<br />Illonlh,' lime frnm Ihe dale of [hi, imtrumetll, declining to insure
<br />'aid 'wte and Ihi\ mortgage, being deellled con.:!usi\e proof of
<br />'l\""h mdiglbIiit\ l. the Lender or holder 01 ihe nOle may, at its op'
<br />:!on, de.:!are a!1 ,Ulm ,ecu,cd hereby immediately due and payable.
<br />'.;ot\\ jlh,tallding the foregoing, Ihi, option may not be exercised
<br />11\ the Lender or Ihe holder of the note when the ineligibility for
<br />in,uratke ullder Ihe "alional Hou.,ing Act is due to the Lender's
<br />lallure 10 lelllit the mortgage in'llIance premium to the Depart,
<br />menl 1'1 Homing and Lrban De\eopment.
<br />
<br />! 1 fh~\1 il the 130ITO\',er fail' Il) ma~e any payment' of money
<br />\\' hen :he ,ame be':"llle due. 01 lal!- [() conform to and comply
<br />\\l!h ~lIl! l)f the i.:onJirion... or agrec!l1cnt\ ,,:onrained in this instru-
<br />I1lellt. or ,he 1l0le \\hlch it ,eCClre" Ihen !he entire prtncipal sum
<br />dnd .k,-rueJ l!Here,1 shall al ,'nee become due and payable, al the
<br />dt'...."[hlll ut the Lt:lH.icr.
<br />
<br />i l'nder ,hall gl\e l1ot"e t(, Bl)rrl\\ler prtor 10 acceleration
<br />:-~.,!l'-)'.\Jng Bt)rrt1\\l'r.... breach ll! ;Jn~ I..'lncnant or agreenlcrH in this
<br />'n'[r~il1ll'IH Ibul Iwt prll'r !l' aCCl'ft-ratlon under paragraph 12
<br />link" ,Ippilcabk la\\ pr,,\ Ilk, lllhl'r\\lsel. The notice shall specify:
<br />LII ::1l' detault; tt'l Ihl' ,lctlllll tl'qulled III cure the default; (c) a
<br />J,lie. 11"1 ie',' 1I1,In ,10 ,Ia\, 11'''111 the dale the 110tice is gi\'en to
<br />Ill'rtl1\II'!. b\ \\hk"h lill' def<lult mu\1 Ill' cured; and (d) that failure
<br />i,l C"tl' :he .letaull ,111 l'r l'dlHe the date \pe,ified in the nO[ice
<br />I1l<l\ ,,'ul: ;11 a.:ederatll'l1 l)f the 'UI11' \e,ured by this instrument
<br />,I!hi ',lie ,>[ !he I'r;)l'ert\, fhe I1Oll.:e ,hall further il1form Borrower
<br />1'1 the [I!!h! 1<1 reill'late ,lfter accderatiOl1 and the right to bring a
<br />,I'UIl .Ictlllll tl) a"ert !he I1lHl'e\lSten,e of a default or any other
<br />,kfen,e elf BOrfll\\CI tl) <lCCekralion al1d ,ale. If the default is not
<br />cllTed lll1 or bdore Ihe date 'pe,ified ill the notice, Lender at its
<br />llplllln ma\' r",quire immediate pa\,ment in full of all sums secured
<br />1'\ 11m instrumelll \\[thout fun her demand and may in\"oke the
<br />pl'\\e'r of ,ale and any other remedies permllted by applicable law.
<br />lender shall be e'ntitled to ,ollect all expenses incurred in pursuing
<br />!he remedies prO\ided in this paragraph 13, including, but nO[
<br />lunited to, reasonable attorneys' f"es alld ,0515 of tule e\";dence.
<br />
<br />If [he Pll\\CI l'f ,all' I' ill\llkt'd, Trustee ,hall record a notice of
<br />del,wl[ III l'ach COUIll\ III \\ hlch any pan of the Property tS io,ated
<br />and ,hall mail cople\ of ,uch notice ill the manner prescribed by
<br />applicable law tn Borrower and to the other persons precribed by
<br />appli,able la\\. After the time required by applicable law, Truslee
<br />,hall gi\e public notice l,l ,ak 10 the persons and in the manner
<br />prescribed by applicable la\\, Trustee, without demand on Bor,
<br />rower. shall <,ell the Propen\" at public auction to the highest bid,
<br />der at the time and place and under the terms designated in the
<br />noti,e of sale in one or more parcels and in any order TruSTee
<br />determines. Trustee may postpone sale of all or any parcel of the
<br />Propeny by public announcement at the time and place of any
<br />pre\iousl\ scheduled ,aft-. Lender or us deSignee may purdlase the
<br />Propeny at any sale,
<br />
<br />l'pon receipt of payment nf the price bid, Trustee shall deli\'er
<br />to the purchaser Trustee's deed con\"eying the Property. The
<br />recitals in the Trustee's deed shall be prima faeie evidence of the
<br />truth of the statements made therein. Trustee shall apply the pro,
<br />ceeds of the sale in the foliowing order: (a) to all expen,es of the
<br />sale, including, but not limited to, Trustee's fees as permilled by
<br />applicable law and reasonable attorneys' fees; (b) 10 all sums
<br />secured by this S<,curity Instrument; and (c) any excess 10 the per-
<br />son or persons legally entitled to it.
<br />
<br />Page 3 01 5
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<br />. HYDr~2143DT
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