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oPpll' them 10 .oid iodebledne," d. well before d. oner defoull io Ihe condition, ,H~,,~m~~o!~~~der IOny de- mDl1d. sue for nod recover nny such rJoyrnenlli when due. nod pnyoblc, but shall not be required 1m to du. Thin DSlilgnmcnI is to u:nnlmnc nnd become null Dnd void upon release of Ihlll instrument. 10. 11mllhe Borrower will keep the buildings upon said premises in good repair, Bod neither commil nor pcnnil waste upon said land. nor suffer me sold premises to be used for any unlawful purpose. II. Thut if lhc premises, or uny part ther.::of. be condemned under the power of eminent domain. Of acquired for n public use, the damages awarded. the proceeds for the taking of. or the consincrntion fur such acquisition. to the extent of the full omount of indebtedness upon this instrument nnd the nole which it is given 10 secure remaining unpaid, arc hereby assigned by the Borrower to the Lender, and shan be paid forthwith to said Lender to be applied by the loiter on nccount of the next malUring inSlnllmenls of such indebtedness. 12. The Borrower further agrees that should this instrument and the note secured hereby not be eligible for insurance under the National flousing Act within eight months from the date hereof (written statement of any officer of the Department of Housing and Urban Development or authorized agent of the Secretary of Housing and Urban Development dated subse- quent ta lhe eight months' time from lhe date of ,his instrument, declining to insure said note and this mortgage, being deem- ed conclusive proof of such ineligibility), the Lender or holder of lhe note may. at ils aptian, declare aU sums secured hereby immediately due and payable. Notwilhstanding the foregoing. this option may not be ex.ercised by the Lender or the holder of the note when the ineligibility for insurance under the National Housing Act is due to the Lender's failure to remit the mortgage insurance premium to the Department of Housing and Urban Development. 13. That if the Borrower fails to make any payments of money when Lhe same become due, or fails to canfonn to and comply with any of the conditions or agreemenls contained in this instrument, or the nole which it secures, then the entire principal sum and accrued interest shaU at once become due and payable. at the election of the Lender. Lender shall give notice to Borrower prior to acceleration fonawing Borrower s breach of any covenant or agreement in this instrument (but not p~or to accelerration under paragraph 12 unless applicable law provides otherwise). The notice 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 notice is given to Borrower. by which the defaull must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in accelerdtion of the sums secured by this inslJUmenl and sale of the Propeny. The notice shall further infonn Borrower of the right to reinstate after acceleration and the right to bring a court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale. If the defaull is not cured on or before the dale specified in the notice. Lender at its option may require immediate payment in full of aU sums secured by this instrumenl without further demand and may invoke the power of sale and any other remedies pennilted by applicable law. Lender shall be entitled to colleCI all expenses incurred in pursuing the remedies provided in this paragraph 13, in- cluding. but not limited to, reasonable anorneys' fees and costs of title evidence. If the power of sale in invoked. Trustee shall record a notice of default in each county in which any pan of the Property is localed and shall mail copies of such notice in the Tt13nner prescribed by applicable law to Borrower and to the other persons prescribed by applicable law. After the time required by applicable law, Trustee shall give public notice of sale ta the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall seU the Property al public auction to the highest bidder al the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee detennines. Trustee may postpone sale of all or any parcel of the Propeny by public announcement at the time and place of any previously scheduled <;ale. Lender or its designee may purchase the Property at any sale. Upon receipt of payment of the price bid, Trustee shall deliver 10 the purchaser Trustee's deed conveying the Propeny. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statemenlS made therein. Trustee shall apply the proceeds of the sale in the following order: (a) 10 all expenses of the sale. including, but not limited to, Trustee's fees as pennined by applicable law and reasonable anorneys' fees: (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled [0 iL 14. Upon acceleration under paragraph 13 or abandonment of the Property, Lender (in person, by agent or by judicially appointed receiver) shall be entitled to enter upun, take possession of Ilnd manage the propeny and to collect the rents of the Property including those paSt due. Any rents collected by Lender or the receiver shall be applied first 10 payment of the costs of management of the Propeny and collection of rents, inc1uding, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorneys' fees, and then to the sums secured by this instrument. 15. Upon payment of all sums secured by this instrument, Lender shall request Trustee to reconvey the Property and shall surrender this instrument and all notes evidencing debt secured by this instrument to Trustee. Trustee shall reconvey the Property witbout warranty and without charge to the person or persons legany entitled to il. Such person or persons shall pay any recordation costs. 16_ Lender, at its option. may from time to time remove Truslee and appointll successor trustee to any Trustee appointed hereunder by an intrument recorded in the county in which this instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to all the title, power and duties conferred upon Trustee herein and by applicable law. 17. Bomiwer requests that copies of the nolices of default and sa:icbe sent to Borrower's address which is the Property Address. 18. If one or more riders are executed by Borrower and recorded together with this instrument, lhe covenants and agreements of each such rider shan be incorporaled inlo and shall amend and supplement the covenants and agreements of this instrument . as if the rider(s) were a part of this instrUment. 19. The covenants herein contained shall bind, and the bellefits and advantages shan inure to. .the respective heirs, ex- ecutors. administrators, successors. and assigns of the panies hereto. Whenever used. the singular number shall include the plural. the plural the singular, and the use of any gender shall include all genders. Page 3 01 04 o. ~ .... . 1.-.' I~.'. Form HUo.S2U:J.[)T Rev 2188 6lPI