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<br />made: ~hall be: addC'\ 10 Ihe l'r1n..'lpal ~Ul1l (mint! (In Ihe ahtHl'
<br />nOle, \hall be ~l'cur('d hereb.., and \hall bl'ilr J11ll're..1 al the rate ..el
<br />forth In Ihe \aid nOle, unlll.pald.
<br />
<br />88- 106468
<br />
<br />7. That the Borrower hereby a~~igm, ttam.fen and ~et~ mer 10
<br />the lender, to be applied loward the payment of the nOle and all
<br />\ums ~e(urcd IH~reby in case of a defttult in the performance of
<br />an\' of Ihe lerm~ and conditions of thiS instrument or the ~aid
<br />noie, alllhe rent\, re\enu~ and Income to be deril'cd from lhe
<br />,aid premise~ dunng ~u..:h lime a\ the Indehtedness shall remain
<br />unpaid, and the lender ~hall ha\t~ pl.H\er tt) appomt any agent or
<br />agents 1I ma~ de\lre for the purpo..e of repalrmg ..aid preml..e.. and
<br />of renting Ihe ~am:: and cnllecllng [he rent.., re\ enue\ and JIIcome.
<br />and !1 may pa~ OUI of ~ald rn..:ome\ all e\peme\ of repalflng ..:ml
<br />premises and lIeCI:\..ar~. COmml\\IOm and e\.pcmc\ in..:urred In rl.nt.
<br />109 and managing the ..ame and of ..:olkcllng rental.. Iherdrllm:
<br />the b..lance remaining, If am In he aprhctlrll\lard the dl....:harge
<br />lit ,aid mdehll'dm'"
<br />
<br />1\. ThaI Ihe BIJffll\\er "ill ~eep Ihe lmrfl1lem\.'nt.. lllH\ Cl.I..lIng
<br />(If turealler erc..:Io:J 1m Ihe prllper:\, In..ureW .1' ma~ bc reL\ulred
<br />twm lIme III Ilme b\ Ih\' I ~nder olgaln..l Ill,' 1'\ tIre .tlld l1\ht.'r
<br />ha/ard" LiI'uallle, Jnd Lllllllllt!t:n';le.. 111 ..u..:h .!I1lUUnl\ and Illr \u..:h
<br />pt:flI1J.. a\ lYlil~ he ICljlllled b\ the Lt:ndc=r and \qll ra~ rhlmrtl~.
<br />\lhl'l1 dul.', .111\ prellllum.. IHI ,u..:h lII..uran..:t: rrlHI'JOIl r~)f ra~menl
<br />,II 111111.'11 ha\ !lUI Ill'CIl made herclllhdore -\11 lII\uran..:e ,hall ht:
<br />..:arr~I'J 111 ":~lmrarlll'~ ilpprll\t:'d h\ Ihe l\'nd\'r and lht.' pllIIL'It:" and
<br />re:ne:\\al.. lh\'f\'lJI \h.111 t-\.' helJ b\ lh\' lender and hale alta..:hcd
<br />Iht'relU ilJ\\ pa~ahlc: Llau'l"\ III la\lH ul anJ III f,lrm .t..:..:eplahk III
<br />lhe lendet In ele:nT III Il"" BorflJ\\er \\111 ~I\e Immedlale nOIl..:e
<br />b~ mall In the Lender, .....ho mal ma~t' rrtll~1 IJf IO\~ If nOl made
<br />promptl~ b~ Uorro"c=r, and ea..:h In'Iuran..:C' ..'Llmpan~ ,'on..:erlled I"
<br />heret-~ dlllhllrl/ed anJ dlrcdcJ ll~ ma~t' rd~m...nt fllr ..u..:h [...'M
<br />dlfecll~ In lhe le:nder 1",lead 01 10 Ih\.' BnrrcJl\t'r and tile lender
<br />Jt1l11tl~, and lhe: I",uran..:e pru.::eed.., ur an~ pat! lhereo!. mal bt:!
<br />apph\.'d bl Ihe lender al Ih uprlnn ell her ILl Ihe redu..:llOn Llf Ihe
<br />1Jl(h,-bh:dnc\\ hereb~ ..c=cured or 10 lhe re..Wrathln l)r rc=palr ,1l' Ihe
<br />propert~ damagt:d. In ('\elll ut' lorC'dl.hUre ,II Ihl" In..trument tlr
<br />ulher Iran,fC'r or llllc tu the mLlrtgaged pr"-'perl\ III "'l.llnI1-Ul,hmell1
<br />uf Ih(' Indebledne.... ..e..:ured herel:l~. all nglll. rille anJ InI('tC"t ,11
<br />lhl' UUTft1\~et In Jnl! II) an~ lIhur.tn..:e plllld\" ~hr."n III 1111..:t' ,h..lll
<br />pa.... III lh... pur..:ha\er III gr..lnlee
<br />
<br />IJ Thill a.. adJlIl\mal anJ ..:ollale:r:.tl ,\.'..url1~ 1m the pa~menl lIt
<br />the nlltl' l.h."\\nheu, .mll all ')Ul1l\ III ht',:ulIll" lIu\.' un.ler thl~ Jn~tru.
<br />ml"nl, lhe Burruwt."f herd'~. a~~It:n\lo lhe L\.'nder 0111 rrl'lll~,
<br />re\enuc.., ro~allle\, rt[Zht\ and ttenet'lf~ a~'~.rull1l1- 10 lht' Borro"er
<br />under an~ and all 011 and ga\ lI:a..('.. IlJl ~all.l rreml\(''', "\lh Ihe
<br />fll?hl to re..:el\C' and re":C'Jpl 1M Ihe ..olme and .Irpl~ Ihem 10 \alJ
<br />II1debtednc::~~ a.. "ell before a.. alter d:t'auil 111 Ihe condlllon~ of
<br />tht~ lIl..rrumem, and thc lender mal demand. ,ue fur and rel.:o~C'r
<br />:Jn~ ..uch pa~ mem~ "hen duc and pa~ able, hUI ,hall nOI he reo
<br />ljulred "0 10 do_ Thi~ a~"lgnment l\ to lermlllalC' and h~ome null
<br />and \oid upon relea..C' of Ihis mstrumenl
<br />
<br />10 Thai the Borro""er "'ill keep (he hUIldlllg.. upon ~ald premi..e\
<br />in good repair, and neither I.:ommll nor perlmt "a!ote upon \aid
<br />land. nor \uffer Ihe ...aid premt..e\ 10 bc u,a:d for any unlawful
<br />purpo!le.
<br />
<br />11. That If the preml\e.., or an~ pari Ih('rcol". be' condemned
<br />under the power of eminent domam. or Ilcqum:d for a public use.
<br />the damage.. awarded. the proceeds for the taking of. or the con.
<br />sideration for such acquisition. to the eJllent of the full amount of
<br />indebledness upon this inslrumenl a.nd the nole which it is given to
<br />..ecure remaining unpaid, are hereby llSSigned by the Borrower 10
<br />the Lender, and ..hail be paid fonhwith 10 said lender to be ap-
<br />plied by the latter on account of the neJlt maturing installments of
<br />'uch indebtedness,
<br />
<br />I:!. The Borrower further agn~es thllt 'ihould Ihh in\lrumem and
<br />the nOle ~ecured hereby not be eligible for insurance under lhe :'<la,
<br />lional Housing Act within elghl momhs from the dale hereof
<br />("rillen ..(atc-mem of any officer of the Depanmem of Housing
<br />and L.:rban De\'elopment or authorized agent of the Secretary of
<br />How.ing and Urban De\'e1opment dated $ubsequent to the eight
<br />month..' time from the date of this imtrument. declining to insure
<br />..aid note and Ih,.. mortgage. being deemed condusi\'t: proof of
<br />,ut:h lIleiigibilitYl, Ihe lender or holder of the nOle may, at its op.
<br />11011. declare all \ums secured hereby immedialely due and payable.
<br />....o!\\llh~landmg Ihe foregOing. this option may nOl lJe exercised
<br />tt~ the Lender or lhe holder of lhe nOle when the ineligibility for
<br />lII..urance under Ihe ;...ralional Housing ACI is due 10 the Lend~r's
<br />failure 10 remit thl:' mongage Insurance premium to the Depan,
<br />ment of Housing and L'rban Dc\eopmenl.
<br />
<br />I ~ That If lhe Borrower falls {Q make any payments of money
<br />\\ hen lhe ~ame become due. or fail~ to conform to and comply
<br />II llh an~ of Ihe .."ndltions or ap:reen.enls contained in this instru.
<br />menl. llr Ihe nOle "hich it ~ecures. lhen lhe entire principal sum
<br />and a..:..:rued interesl shal! al once become due and payable. at the
<br />e1edlLln 01' the L\'nder.
<br />
<br />( enJer ,hal! gi\-e nOlice to Borrou.er prior [0 acceleration
<br />IlllkH~lIIg Borro\\er'~ breach of any covenant or agreement in this
<br />lll'trument (bUI nOI prior tD acceleration under paragraph 12
<br />Ilnle~~ apph..:able law pro,,'ides otherv..isel. The notice shall ipecify:
<br />loll rh... Jefault: lb) the action required to cure the default: (c) a
<br />Jate, nOI le..s than 30 days from the date Ihe notice is gh'en to
<br />~tJrro"l:'r, b\" "hich the defaull must be cured: and (dJ that failure
<br />1.1 ..:ure Ihe default on or before the dale specified in the notice
<br />ma~ re..ult III acceleration of Ihe sums secured by this instrument
<br />Jnd ..ale of lhl: Propeny. The nOlice shall further inform Borrower
<br />III the nght. 10 reins1ale after acceleration and the right to bring a
<br />LllUrt a..:llon 10 a')~en the non.c."istence of a default or an\' olher
<br />Jell'me of Borro\\,er TO acCC'leralion and ute. If Ihe deiauit is not
<br />...'urcd 11n or before the date specified 10 Ihe nOlIct, L~der al its
<br />l,lpllon may require immediale pa~1Tlent in full of all sums secured
<br />h~ Ihl~ Imlrument without further demand and ma~' in\'oke the
<br />po"er of 'kIle and any olher remedies permuted b!o- appbcable law.
<br />Lender \hall be entilled to collect all expenses incurred in pursuing
<br />Iht:! remedies pro\'lded in lhis paragraph 13. induding. but not
<br />!tmlled w, reasonable attorneys' fees and costS of title t\;dence.
<br />
<br />It' Ihe- ptl",er of sale IS Inl'oled, Trusl~ \ha1J record .a nOlice of
<br />Jdauh to each ':ount}' in \\'hich an)" pan of the Property is located
<br />and ..hall mail .:opies of such nOlice in the manner prescribed b~'
<br />applt..:able lau 10 Borrou.er and to the other persons prrcribed by
<br />appli..:able 13". After the lime required by applicable la\\. Tru$tet'
<br />..hall gl\C' pubhc nOllce of ~ale 10 the periODS and in the manner
<br />prescribed by applicable lau. Trustee, u.ilhout demand on Bor-
<br />rower. shall selllhe Properw at public auction to the highest bid.
<br />Jer al Ihe lime and pia"" and under the !emu designated in the
<br />notice of sale in one or morc parcels and in any order TrustC'C"
<br />detenninC'5. Trustee ma)' postpone sale of all or any parcel of the
<br />Propeny by public announcement at the lime and placc of an)'
<br />rre\iou~l!o ~chedulM $il!e. Lender or its designee may purchOUC' the
<br />Propeny at any sale,
<br />
<br />Upon receipt of payment of the price bid, Tnulee shall delh.cr
<br />10 Ihe purchaser Trusll:e's deed con\'~ng the PropeM)'. The
<br />rttilab in Ihe Tru~te-e'~ deed shaH be prima fac1C' C"-idcnl:'C' of the
<br />truth ot [he sta!ements made therein. Trustee shaH apply the pro.
<br />ceeds of the !mle in the following order: (11) to all c~penK'5 of the
<br />~ale. including. bUI not Ilmiled 10, Trustee's feo IU permitted by
<br />applicable law and reasonable attorneys' fees; (b) 10 all sums
<br />secured by thill Security Inslrument; and eel any C"lC'OS to Ihe per.
<br />son or persons legally emilled to il.
<br />
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