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t :Mess Borrower will give immediate notice by mail to the
<br />IMS ; 4%ft May make proof of loss if not made promptly by
<br />C.a er atd each insurance company concerned is bereby
<br />&Xb, * i and directed to make payment for such loss directly to
<br />ft Lender instead of to the Borrower and the Leaderivintly, and
<br />the insurance proceeds, or any pan thereof, ma be apnp'ied by the
<br />!render at its option either to the reduction el'tb-e&t &,btedness
<br />hereby secured or to the restoration or zepair of the property
<br />damaged. In event of foreclosure of ttffs incamment or other transfer
<br />eftitte to the mortgaged popperty in exarguishment of the
<br />ir4e,'a� seru-ed hereby, nil right, title and interrest of the
<br />Rrsr oww is and zo any insurance policies then in farce s'ATa past i"
<br />tilt PC.- chaser orgrantee.
<br />q. That as additional and collateral security for the peynient of the
<br />nra,s described, and all sums to become due under this instrument,
<br />the Borrower hereby assigns to the Lender all profits. revenues,
<br />royalties, rights and benefits accruing to the Borrower under any and
<br />all oil and gas leases on said premises, with the right to receive and
<br />receipt for the same and apply them to said indebtedness as well
<br />before as after default in the conditions of this instrument, and the
<br />Lender may demand, sue for and recover any such payments when
<br />due and payable, but shall not be required so to do_ This assignment
<br />is to terminate and become null and void upon .elease of this .
<br />instrument_
<br />10. That the Borrower will keep the buildings upo: •,rA premises
<br />in good repair, and neither commit nor permit was.:e ep,n said land,
<br />omr surfer the said premises to be used for ary !::as�Q1 purpose.
<br />1 1. That if the premises, or any part thereof, be con'r.mned under
<br />ttra power of eminent domairi, or acquired for a pats! is tee. the
<br />dazrages awa-ded, the proceeds for the taking of, cr A.,e.
<br />consideration for such acquisition, to the efrient of dire TO) amount of
<br />indebtedness upon this instrument and the ewe ;� rarer, it is given ti>i
<br />secure remaining unpaid, are hereby assjrz�ei: L- due &'Iz wer to
<br />Lender. and shall be paid forthwith to said Lender tor .lie till-plied by
<br />the latter on account of the next rnaturing instailmerfm of such
<br />indebtedness.
<br />12. The Borrower further a`:.ees that stiaul d this instrument and
<br />the note secured hereby not roe e:ij�ye for ice wince under the
<br />National Housing Act within o:gtr. sa..ttts from the date hereof
<br />(written statement of any officer of the 05cpartment of Housing and
<br />Urban Development or authorized agent of the Secretary of Housing
<br />and Urban Development dated subsequent to the eight months' time
<br />from the date of this instrument. declining to insure said note and
<br />this mortgage, being deemed conclusive proof of such ineligibility).
<br />the Lender or holder of the note may, at its option, declare all sums
<br />secured hereby immediately due and pay -Mile. Notwithstunding the
<br />foregoing. this option may not be exercisd by the Lender or the
<br />holder of the note when the ineligibility for insurance under the
<br />National Housing Act is due to the Lender's failure to temit the
<br />mortgage insurance premium to the Department of Kuutintr and
<br />Urban Development.
<br />13. That if the Borrower fails to make any payments of money
<br />when the same become due, or fails to conform to -std amply with
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<br />any of the conditions or agreements contained in this instrument, or•
<br />the note which it secures, then the entire principal $urn and accrued
<br />interest shall at once become due and as.ft.cfection of the
<br />Leader.
<br />Lender shall give notice to iw Cleratioa'
<br />folio T �.rr+�w '� fit ofaif Covenant 0 moment in this
<br />hs- t ('put no', prior to.. a ion under partgaph 12 unless
<br />$FPTiatblz,'i3�
<br />-des 71C iit7aeraise). 7l lte.notice "t t specify: (a) the
<br />tau!2; `(1,� tike taFbn.requirec? 7o:twna site dofau?t fa) a date, not less
<br />•thau-304ays front ¢lta tTate. FOv ct. is given .to ;, borrower, by which
<br />the deep, It must be attest;, t,zd (d} tl a I cis to rate the default on
<br />or before the date spewed in the not£ee: s*. ay: r0� 'X.irt acceleration
<br />of the sums secured by this instrument and "W,, -au the Property. The
<br />notice shall further inform Borrowev.ref.�e q,79'S0 to reinstate after
<br />acceleration and the right to bring a 4 . s; 'action to assert the non -
<br />existence of a default or any other d4ehsc of Borrower to
<br />acceleration and sale. If the default is not cured on or before the date
<br />specified in the notice, Lender at its option may require immediate
<br />payment in full of all sums secured by this instrument without
<br />further demand and may invoke the power of sale and any ether
<br />remedies. permitted by applicable law. Leader shall be entitled to
<br />called "P incurred in pursuing the remedies provided in
<br />a` s pv*' aph 13. including, but not limited to:: rea sonable
<br />a 6m, 1!' fees and costs of title evidence.
<br />o
<br />If the power of sale is invoked. TrrLicw shall record a notice of
<br />default in each count;A in which anypan of the Property is located
<br />and shall mail copies of sash notice in the manner prescribed by
<br />applicable law to Borrower and to the other persons prescribed by
<br />applicable law. After the time required by applicable law, Trustee
<br />shall give public notice of sale to tun persons and in the manner
<br />prescribed by applicable law. True: ft without demand on Borrower.
<br />shall sell the Propert!+ at public aum -o-n to the highest bidder at the
<br />lime and place and under the terns designated in the notice of sale
<br />in one or more parcels and in an order Trustee determines. Trustee
<br />may postpone sate of all or aa, fa. et of the Property by public
<br />announcemient at the time and Playa of any previously scheduled
<br />sale. Le kr or its designee may ,purchase the Property at any sale.
<br />Upon receipt of W9mt aac -if the price bid. Trustee shall deliver to
<br />the purchraxr Trustee's desk wavrying the Property. The recitals in
<br />the Trustee's deed sbail be pTICZ& &7e evidence of the truth of the
<br />statements made therein. Trustee shall apply the proweds of the sate
<br />in the following order.• (fj to all expenses of the sofa, including, but
<br />not limited to. Trustees f &-; as permitted by applicable law and
<br />reasonable attorneys' fees; (b) to 2!1s-, ms secured by this Security
<br />Instrument; and (c) any excess to the person or persons legally
<br />entitled toy t.
<br />14. "d,-r paragraph 13 or abandonment of the
<br />Prope:,,. Lender (in pwsa), by agent or by judicially appointed
<br />f='-Vac) she!l be entitled to err^ :r u ;for., take possession of and
<br />rsanap: tE;i! Property and to cel;:rs,1f . vents of the Property
<br />cncludirg thow past due. Any re:':s colfected by Lender or the
<br />recv; vet s':a:l be apf,8ua& first to payment of the costs of management
<br />of the Property and oo. "jam-f r. ,oa reno , including, but not limited to.
<br />rea°.;�ea's fees, premiu;as orr rew,ver's bonds and reasonable
<br />attorneys fees, and then to the sums secured by this instrumtm. -
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