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<br /> `���R�RECOROED
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<br /> evene uf taca�rrower will give immedirte noiice by mai!to the asty c�f the cott�itiuns ar agreements contained in lhis instfument,or
<br /> ' Lender,who may roakr proof of loss if not�nade promptly by the note which it secuns,then the entire principa!sum and acc�ed
<br /> Bortow�er,and each insuranaz comp�ny conceraed is here�y interest shall at once becorae due and payabfe,at the election of the
<br /> � authorized and directed to make paymcnt for such tass directly to Lercder.
<br /> the Lender instud of to the Borr�wer ind the Lead+er jointiy,and
<br /> the iasurance proceeds,or any part thereof,may be appiied by the Lender shal!gi�•e aotice to�orrower prior to acceleration
<br /> , I.ender at its opcian eithcr to the reducuon af t�e iadettedness following Bonower's breach of any cavenant or agreement in this
<br /> hereby secured or to the restoration ot repair of the propeny insuument(bat not prior ta acceleration under paragraph 12 unless
<br /> damaged.[a evenc of for�closude of this instrumeni or otAer transfer applicable taw�rovid2s otherwise).TUe notice shall specify:(a)the �
<br /> of tit?e to the mortgaged property in extinguishment of the default;(b)the action required to cure tRe defaui�(c)a date,aot tess
<br /> indeDtedness secured hereby,alt right,titte artd inferest of the than 30 days from the date thc notice is given to Borrower.by which
<br /> &snowcr in and to sny insurartce poticies then in force shall pass to the default must be cured;and(d)that failure to cure the default on
<br /> the purchaser or grantee. or before the date specified in th�aoiice may result in acceleraUOn
<br /> af the sums secured Fsy this i.nscc��:nt aad sale of the Praperty.The
<br /> � 9.That as additional and collateral security for the payment of the notiee shall further inform Be:�•a�r of the ciglit to reinstate after
<br /> note descn'bed,and ati sums to becorne due undes this instrument, aoceteration and tEe right to b�i�a a1:��t accion to assert the non-
<br /> the B.�*rower hercby assigns to the Leader ali prufits,revenues, existence of a defauEt or any ot�er�'��cf�orrower to
<br /> � rayalrss,rigfits and 6enefiu aceruing to the Borrawer under any a.c� arceleration and sale.If th�defa�?e����:czred on or before the date
<br /> ali oil and gas feases on said premises,with the right to receive ac� spa�fi:d in the notize,Lender�t�s a�=.:�may require immediate •
<br /> • receipt for the same and apply them to said indebtedness as we�± p�yment in full of sU sums s�.-*en�bc �*� i strument without �
<br /> Ixfore as after default in the cortditions of this instrument,ar.d c.�e further demand and may invu'�tfie po�ec-,�t'sate artd eny other
<br /> Lender may demand,sue fur and recover any such payments when remedies permitted by appli�b!e law.Lender shall be entitled to
<br /> due artd payable,6ut shall not 6e required so to do.This assignment collect ap expenses incurreci e�pursuing the remedies provided in
<br /> is to terminate and become null and void upon retease of this this paragraph 13,includir.�_�as not timited to,reasonable
<br /> f instrument. attomeys'Eees and costs of��?:evidencc.
<br /> !0.'II'hat the Borrower will tceep the buildings upon said premises If the powcr os�_:.�:is i�vflked,Trustee�all reeord a notice of
<br /> in gaecl repair.and rteitker co:c:Yib aor permix waste upon sai�J}and, d.fault ira each���r_:}ir:c�tt::di any pan e�tt�e Property is tocated
<br /> ao:����the said�r� �a to be used for an}���!awfuJ purpose_ acd s!��a.'.I maii copies o:&1�Cs.;,�uce in the manner prescribed by • � � .
<br /> ag_s;i;.a9te law to Borroa a;�r�.:,�tfie other persons prescribed by '
<br /> 1 t.That if t6e p:zmises,or any pan thereof.be condemned under appJicable law.After the;z�e��uired by applicable taw.Trustee
<br /> , the power of eminent domain,or acyuired far a public use,the shall give public notice of sale to the persons and in the manner
<br /> damages awarded,t6e proceeds for the taking of,or ihe prescribed by applicable law.Trustee,without demand on Botrower. -
<br /> consideration for such acyuisition,to the extent of the full amount of shail seil the Propeny at p��*'.:,:auction to the highest bidder at Ihe -_
<br /> indebtedness upon t�;s iastrument and the note which it is given to time und place and under ch..e c:-ms designated in the notice of sale
<br /> secure remaining uu�id,are hereby assigned by the B�rrower to lhe in one ar more parcets and c�any order Trustee determines.Trustee
<br /> Len�yr,and shall be paid fotthwith to said I.e�der to be apptied by may postpone sale of all or any parcel of t'ht Property by public
<br /> !�e�a::.�a*�acco::^:of the next maturing instaliments of suct�s ar_r.,r�ancemer.��r�zz time and place of a�s r�:eviously scheduled �:,�
<br /> � i�u:b���T�s. s:�•:.�.ender o-i;����sig*ee rlay purchase an.�'tope��ty at a�y sale.
<br /> 12.The Bonower further a rees that should this instrumes:.��,-j �-- > >.
<br /> 8 IL�pon receipt af ra;�ec:.cr. r,,.price h5�,i rrstee sha:i aeliver to
<br /> the note secured hereby not be e:��.5te for insurance under t>:° [he parchaser Tr::s�;e s Cee�'�;a:veyin�t��lir�:,�rty.The recitats in i,
<br /> National Housiag Aci within eig.'�2•a��nths from the date herW:,, the Trustee's de��!�.'�all be pnma facie evirii��:�of thc truth of the ;;' ,
<br /> (written statement of any o�cer of the Depanment of Hourr�a:�d statements made��erein.Trustee shaU apr:', the pra^.eeds oF the sa{e "`s`'
<br /> � Urhan Development or authorized agent of the Secretary of�`ousing in the foltowing order.(a)to al}expenses oi the sa1e.inciuding.but '�.
<br /> and Ur6an Development dated subsequent to tb2�:�ht months'time not limited to,Trustee's fee��•s mermitted by appticabte law and �
<br /> from the date of this instrument,declining to insure said no:s and reasonable attomeys'fees;(6�:�all sums sec�.�red by this Security '�
<br /> this mortgage.being deemed conc3:,seve proof of such ineli�.ki'ity), Instrumen�aad(c)any excess ta the pe����?�.r. �;etsons fegally ;:r;z'�.
<br />- the Lender or hoider af the note�.����,at itv option,declare ati sums entitled to it.
<br /> secured hereby immedilitely due z�nd payable. Natwithstanding the
<br /> foregoing,this apti��rc.ay not be exercised by the l.ender�r thc 14. Upon accel_,�:��n er.d�r��aragraph 13 ar abandoament of the
<br /> hoider of the note w�c�the ineligibitity for insuraace undcr the Prapeny.Lender 2c:7 person,L;agent or by judicially appointed
<br /> National Housing Act is due to the Lender's failure to remit th: receiver)shall he r:r_�itted to eater upon.take possession of and
<br /> mortgage insurance premium to the Department of Housing a��« manage�he Pro�-ty and to coltect the rents of the Property
<br /> Urban Development. including those past due.hny renu collected by Lender or the
<br /> receiver shall bc apQlied Grst to payment of the costs oP management
<br /> 13.That if the Borrower fails to make any paj�ents of money af the Property and collectian of rents,including,but not limited to,
<br /> � w6en the same becAme due.or fails to confor,;.�7 and corrc'y with receiver's fees,premiums on re�;�iver's twnds a�d reasonable
<br /> attnrney's fees,a-�1 then to the sums securcri.l:p this instrument.
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