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<br />101,
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<br />apply them to said rcadedtedness as well before as s(ies default in tIte ortttditions of thin ittstrvirte,tn: airw ttte 12AWY
<br />'.. mand, sue for and recover any such payrnent, witep dt�,and pavttile h�i zuitalI t>;ot bt: trtgtiircd so to do. This assiprtrJr> ,
<br />r is to termimte. and become null. and void upon release.of this instiiitit;ilutt '
<br />10. That the Borrower will keep the buildings upon said premises in good repair, and neither commit nor pey ,mit waste
<br />– { upon said land. rwr suffer the said 'premises to be used for any unlawful purpgse:
<br />I 11. That if the premises, or any part thereof, be condemns' d under the power of eminent dotnain, or acquired for a public
<br />use, the damages awarded, the proceed:, for the taking ef,,or.the consideration. for such scquisitioni' o the extent of the full
<br />amount of indebtedness upon this instrument and the rote rate l 1t'i� given to Secure remaining unpaid, are hereby assigned
<br />I by the Burrower to the Lem:tr, and shall be paid forthwi-6 t4,said Lender to be applied by the latter-on ac -oust of the next
<br />maturing installments of such indebtedness.
<br />+ 12. The Borrower further agrees that should this instrument and the note secured hereby not be eligible for insurance
<br />under the National Housing Act within eight months from the date hereof (written statement of any officer of the Department
<br />of Housing and Urban Development or authorized agent of the Secretary or Housing and Urban Development dated subse-
<br />quent to the. eight months' time from the date of chi s instrument; (declining to insure said note and this mortgage, being deem -
<br />ed conclusive prcxif of such ineligibility), the Lender or holdet$f the note,may iafits option, declare al! sums secured hereby
<br />immediately due and payable. Notwithstanding the foregoi.rtg,`this option. may ripf exercised by the Lender or the holder
<br />of the note when the ineligibility for insurance under the National` Housing Oct is due to the Lender's failure to remit the
<br />mortgage insurance premium to the Department of Housing.. and :Urban Development.
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<br />13. That if the Borrower fails to make any payments of money when the same become due, or fails to conform to and
<br />comply with any (.f the conditions or 3ereements contained it. this, instrument:. rr the nolewhich it secures, then the entire
<br />principal sum and accrued interest shall at once become due-and payablc,:a`t the clection.tif the Lender.
<br />wan !.ender shall give notice to Borrower prior to acceleration following Borrowef's breach of any covenant or agreement
<br />in this instrument (hut not prior to accclerration under parag-raph'12-unless applicable law provides otherwise). The notice
<br />shall specify- (a) the default; (b) the action required to cure'the default; (c) a date; not less than 30 days from the date the
<br />notice is given to Borrower, by which the default must 'he cured, and(d)-that failure to � rc the default on or before the
<br />date specified in the notice may result in acceleration of the sums secured by this instrument and sale of the Property. The
<br />notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a court action to assert
<br />the nor. - existence of a default or anv other defense of Borrower to acceleration and sale. :,lf the default is not cured on or
<br />before the date spccif cd in the notice. Lender at its option may require immediate aayment in full of all sums secured by
<br />this instrument without further demand and may invoke the power-of salt and any other remedies permitted by applicable
<br />law- Lender shall he entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 13, in-
<br />eluding, but not limited to, reasonable attorneys', fees and costs of title evidence.
<br />If the power of sale in invoked. Trustee shall record a notice of'dcfault in each county in u `•;ch any part of the Property
<br />__Q is located and shall mail copies of such notice in the manner prescribed by applicable. lain to Borrower and to the other persons
<br />prescribed by applicable law. After the time required by applicable law, Trustee shall give public notice of sale to the persons
<br />—� and in the manner prescr ibcd by applicable law. Trustee, without demand on Borrower, shall sell the Property at public
<br />M auctio;, to the highest bidder at the time and place and under the terms designated in the notic, of sale in one or more parcels
<br />and in anv order Trustee determincF-. Trustee may postpone sale of all or any parcel.of thc'Property by public announcement
<br />at the time and place of any previously scheduled sale. Lender or its designee may purchase the Property at any sale,
<br />Up to receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's decd conveying the Property.
<br />The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall
<br />apply the proceeds of the sale in the following order: (a) to all expenses of the sale, including, but not limited to. Trustee's
<br />fees as permitted by applicable law and reasonable attorneys' fees; (b) to all, sums secured by this Security Instrument; and
<br />(c) any excess to the person or persons legally entitled to if. l 14. Upon acceleration under paragraph 13 or abandonment of the Property, Lender (in person, by agent or by judicially
<br />appointed receiver) shall be entitled to enter upon, take possession of and manage the Property and to collect the rents of
<br />the Property including those past due. Any rents collected by Lender-or the receiver shall be applied first to payment of
<br />the costs of management of the Property and collection'of rents, including, but. not limited to, receiver's fees, premiums
<br />on receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this instrument.
<br />15. Upon payment of all sums secured by this instrument, Lcn ler ,h6ll request Trustee to reconvcy the_ Property and shall
<br />surrender this instrument and all notes evidencing •debt secured by this instruri-ienl try Trustee. Trustee shall reconvcy the
<br />Property without warranty and without charge to tlnc persoe or p reons legally entitled to it. Such person or persons shall
<br />pay any recordation costs.
<br />3' 16. Lender, at its option, may from time to tine remove '!Trustcc and appoint a successor trustee to any Trustee appointed
<br />hereunder by an intrument recorded in the county in which ;his instrument is recorded Without conveyan-:e of the Prop.,rty,
<br />�f the successor trustee shall succeed to all the title:, power and duties conferred ulxm Trustee herein and uy applicable law.
<br />17., iorrower requests that copies of t!te notices of default and sale be sent to Borrow.cr's address which is the Property
<br />Address.
<br />IS. I I one or more riders arc executed by Borrower and recorded. together with this instrument, the covenants and agreenents
<br />of each such rider shall he incorpx) rated into and shaJ1 rnmcnd and spolement the covenants and agreements of this instn!mcnt
<br />as if the ridcf (s) were a part of this instrum+ni,
<br />i9. The covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective heirs, ex-
<br />ecutors, administrators, successors, and assigns of the parties hereto. Whenever used, the singular number shall include the
<br />plural, the plural tare singular, and the of any gender shall include all genders.
<br />Page 3 of 4 Form HUD- 92143 -DT Rev. 2166 6LP1
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