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<br />, 88- 103222
<br />apply them to'said indebtedness as well before as niter default in the conditions of this instrument, and the Lendcr may de-
<br />mand, sue for an(l recover any such payments when due and payable, but shall not be required so to do. This assignment
<br />i!>"t6ierminate and become null and void upon release of this instrument.
<br />
<br />10. That the Borrower. will keep the buildings upon said premises in good repair, and neither commit nor permit wasle
<br />upon said land, nor suffer the said premises to be used for any unlawful purpose,
<br />
<br />II, That if the premises, or any part thereof, be condemned under the power of eminent domain, or acquired for a public
<br />USe, thc d~gcs award~, the proceeds for the taking of, or the considcration for such acquisition, to the eXlent of the full
<br />amount of indebtedness' upOn this instrument and the note which it is given to secure remaining unpaid, .are hereby assigned
<br />by the Borrower to the Lender, and shall be paid forthwith to said Lendcr to be applied by the lalter on account of the next
<br />. ~ maturing insli!lIments of such indebtedness.
<br />
<br />12. 1beBorrower further agrees that should this instrument and thc note secured hereby not be eligible for insurance
<br />wtder tlItI NlitiQmd Housing Act within cight months from the date hcreof (wrinen stalemtlnt of any officer of the Department
<br />of Housingaild Urban Development or authorized agent of the Secretary of Housing and Urban Development dated subse-
<br />,quent to the eight months' time from the date of this instrument. declining to insure said note and this mongage, being deem-
<br />ed conclusive proof of such ineligibility), the Lender or holder of the note may, at its option, declare all sums secured hereby
<br />ilnmediately due and payable. Notwithstanding the forcgoing, this option may not be exercised by the Lender or thc holder
<br />of the note when the ineligibility for insurance under the National Housing Act is due to the Lender's failure to remit the
<br />mongage insurance premium to the Depanment of Housing and Urban Development.
<br />
<br />13. That if the Borrower fails to make any payments of money whcn the same become due. or fails to conform to and
<br />comply with any of the conditions or agreements contained in this instrument, or the nOIe which it secures, then the entire
<br />principal sum and accrued interest shall at oncc become due and payable. at the election of the Lendcr.
<br />
<br />Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covcnant or agreement
<br />in this instrument (but not prior to accelcRation under paragraph 12 unless applicable law provides otherwise). The notice
<br />shall specify: (a) the default; (h) the action required to cure the default; (c) a date, not less than 30 days from the dale the
<br />noticc is given to Borrower. by which the dcfault must be cured: and (d) that failure to cure 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 Propeny. 1be
<br />notice shall funhcr inform Borrowcr of the right to reinstate aftcr acceleration and the right to bring a coun action to assen
<br />the non-existcnce of a default or any other defense of Borrower 10 acceleration and sale. If the default is not cured on or
<br />before the date specified in the notice. Lender at its option may require immediate payment in (ull of all sums secured by
<br />this instrument withoul further demand and may invoke thc power of sale and any other remedies permitted by applicable
<br />law. Lender shall be entitled to collecl all cllpenscs incurred in pursuing the remedies provided in this paragraph 13, in-
<br />cluding. but not Iimiled 10. reuonable allomeys' fees and costs of litle evidence.
<br />
<br />If the power of sale in invoked. Trustee shall record a notice of default in c:aeh county in which any pan of the Propc:ny
<br />is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and 10 the other persons
<br />prescribed by applicable law. Aftel" the time required by applicable law. Trustee shall give public notice of sale to the persons
<br />and in the manner prescribed by applicable laW. Trustee. without demand on Borrower. shall sell the Property at public
<br />aumon to the highest bidder at the time and p\ace and under the \emIlI designated in the notice of Ale in one or more parocls
<br />and in any order Trustee dctemlines. Trustee may poslpOfIC sale of all or any parcel of the Propelty by public announcernem
<br />at the time and plal:e of any previously scheduled sale. Lender or its designee may purdwe the Propeny II any Ale.
<br />
<br />Upon reedpl of payment of the price bid, Trustee shall deliver to the purdwer Tl'UItCC's deed conveying the Property.
<br />Tbc RlCitals in the,TI'UItCC's deed shall be Pfima facie evidence of the truth of the statemc:DlS JMde therein. TT1IStee shall
<br />apply the pl'Oi:iecdJ of die we in the following order: la) to all expenliCs of the sale. including. but not IimiIcd to, TI1I5IeC"s
<br />fees.. permitted by applicable law and reasonable attorneys' fees; (b) to all sums secured by this Security ~ and
<br />(c) any excess to the penon or penons legally entitled to it.
<br />
<br />14. Upon acceleration under paragraph 13 or abandonment of the Propeny. Lender (in person. by agent or by judicially
<br />appointed receiver) shall be entitled to enter upon, take possession of and manage the Propeny and toco1lcct the I'CIlts of
<br />the Propeny including those past due. Any rents collected by Lendcr or thc receiver shall be applied first to payment of
<br />the costs of rnanagatICIlI of the Propeny and collection of rents, including. bu. not limited to, receiver's fees, premiums
<br />on receiver'. boads aad RlIsonable anomeys' fees. and then to the sums secured by this instrument.
<br />
<br />15. Upon payment of sll sums secured by Ihis inS\1l1mcnt, Lender shall request Trustee to reconvey the Propeny and shall
<br />surrender this instrument and all notes evidencing debl secured by this instrument to Trustee. Trustee shall reconvey the
<br />Property without wUranty and without charge 10 the pCnon or persons legally entitled to it. Such penon or persons shall
<br />pay any recordation costs.
<br />
<br />16. Lender, lI.iu opliOD. may from time to time remove Trustee and appoint a successor truilce to any Trustee ~
<br />bemmder by an intnameIIl recorded in the county in which this instrument is recorded. Without conveyance of the Property,
<br />the JU<<Cuor tMtee shall succeed to all the title. power and duties conferred upon Trustee herein and by applicable law.
<br />
<br />11. ~er requeatl that copies of the notices of default and sale be sent to Borrower's address which is the Propeny
<br />Mdreis; . '
<br />
<br />18. If one; or more riderI are executed by Borrowcr and recorder! together with this instnlJllCnt, the covenanl5 and agreements
<br />ofeadl sudi rider sha11 beincorpon:tcd into and, shall amend and IIpplement the covenants and agreemenl~ of this instrument
<br />as If die. rldeI(l)' Were a Pan o(d1il 1!Uii1irnent.
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<br />19. lbll am:nantI herein conra1Dcd sha1I bind, andthc bell. lib and advantalcs shall inure to, the respectivc hein, U.
<br />eaiIoit, ~, lUCCCuOn, and dill.... of the pIIJtiea hereto. Whenever used. the sinlular number shall include the
<br />phnl. 'die plural the sinau1at, and ihe use of any ...r thall include all gendcr!,
<br />
<br />---Formii"uo.eili3:Cif~ t\l.PI
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