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event of loss Borrower will, give immediate notice by mail to the Leader. who tan make proof of loss if not made promptly by Borrower. and each insurance company concerned is hereby authorized and directed to make payment for such loss directly to the Lender instatd of to the Borrower and the Lender jointly, and the insurance proceeds, or any part thereof: nay be applied by the Lender at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this instrument or other transfer Of tide w the mongaged property in extinguishment of the bulliebtedneu secured hereby, all right. title and interest of the Borrower in and to any insurance policies then in force shall pass to the purchaser or grantee. 9. That as additional and collateral security for the payment of the note described. and all sutras to become due under thif instrument. the Borrower hereby assigns to the Lender alf proffm revenues . royaltim rights and benefits accreting to the Borrower under anv and ala ad and _m 'cases on said premises, with the right to receive and teotipt for the same and apply them to said indebtedness as well taefore as after default in the conditions of this instrumens< and the Lender may demand. sue for and recover any such pkt-ments when due and payable. but shall not be required so to do. This assignment is to terminate and become null and void upon release of this instrument. 10. That the Borrower will keep the buildings upon slid premises in good repair. and neither commit not permit waste upLn said land. nor suffer the said premises to be used for any unlawfu% trarpose. 11. That if the premises, or any pan thereof. be condemned under the power of eminent domain, or acquired for a public mc. the damages awarda the proceeds for the taking of, or ttte consideration for such acquisition, to the extent of the full amount of indebtedness upon this instrument and the note which it is given to secure remaining unpaid. are hereby assigned by the Borrower to the Lender. and shall be paid forthwith to said Lender to be applied by die latter on account of the next maturing installmerim of such indebtedness. 12. The Borrower further agrees that should this instrument and the note :enutud hereby not be eligible for insurance under the National Housing Act within eight months from the date hereof (wwritten statement of any officer of the Department oflfousing and Urban Development or authorized agent of the Secretary of Housing and Urban Development dated subsequent to the eight months' time from the date of this instrument. declining to insure said note and this mortgage. being deemed conclusive proof of such ineligibility), the Lender or holder of the note may, at its option. de:fare all sums secured hereby immediately due and payable Notwithstanding the foregoing, this option may not be exersiacd by the Lender or the holder of the note when the ineligibility for insurance under the National Horsing Act is due to the Lmder's failure to remit the mortgage insurance premium to else 1141p3nment of Housing and Urban Development. 13. That if the Borrower fails to make.any payments of money when the same become due, or fails to conform to and comply with 1 8= 100788 MY of the conditica or agreements contained in this instrument. ar the note which it secures, then the enure principal sum and accrued interest shall at once become due and payable, at the election of the Lender. Lender shall give notice to Borrower prior to acceleration following Borrowers breach of any covenant or agreement in this instrument (but not prior to acceleration under paragraph 12 unless applicable law provides otherwise). The notice shall specify- (a) the default; tb) the action required to cure the default: (c) a date, not less than 30 days from the date the notit;e is given to Borrower. by which the default must be cured: and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the tight to bring a coup action to assert the non- existence of a default or any other defense of Borrower to acceleration and sate. If the default is not cured on or before the date spedried in the notice. Lender at its option may require immediate payment. in full of all sums secured by this instrument writhout further demand and may invoke the power of sale dad any other remedies permitted by. applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 13. indudiitg, but not limited to, rr..s= onable attomcys fees and costs of title evidence. If rte power of sale is invoked, Tnsnt:; shall record a notice aK default in each county in which any. 17=of the Property is located and shall mail copies of such notice in tsp mantitr prescribed by applicable law to Borrower and to ttte gihser per-cons prescribed by applicable law. After the time requimi -by applicable law, Trustee shall gil•e public notice of sale to rile persons and in the manner prescribed by applicable law. Trustee. without demand on Botmwer. shall sell the Property ar public auction to the highest bidder at tha time and place and undtw the terms designated in the notice of safe in one or more panxlt im' d in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public announcement at the time and place of,any previously scheduled sale. Lender or its designee may purchase tha Property at any sale. Upon receipt of payment of the price bidi Trustae shall deliver to the purchaser Trustee's deed conveying the Prapert'i. the recitals in :he Tmut e.i deed shall be prima fuelp evidence I, rthe truth of rltiz sWcnt ur` made therein. Trustee shall appip ifte ta+x.a ds of Beast'-. in tite following order. (a) to all expenses of ttte• rlt;, ncl +ltiira taut not limited to. Trustee's fats as permitted by app:icable law and reasonable attorneys' (r ;.('o} to all stems secured by this Security Instrument: and (o) any'excess to that person or persons legally entitled to it. 14_ Upon acceleration under paragraph 13 or atandonment of the Property. Lender (in person, by agent or by judicially appointed receiver; uhall be entitled to enter upon. take possession of and manage the Property and to collect the rents of the Property including tlluse past due. Any rents collected by Lender or the receiver shall be applied first to payment of the costs of management of the Property and collection of rears, including. but not limited to. receivers fees. premiums on receiver's bonds and reasonable attntnty's fees, and then to the sums secured by this instrument. pipe 3 �t 3 +�de110.92111DT.1 El 1 kr "� sty. V F.