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r event of lass Borrower will give immediate notice by mad to the Lender. who may make proof of loss if not made promptly by Borrower, and each ittsutanm company concerned is hereby authorized and directed to make payment for such loss directly to the Lender instead of to the Borrower and the Lender jointly, and the insurance proceeds, or any part thereof, may 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 title to the mortgaged properly in extinguishment of the indebtedrtess secured hereby. all tight, title and interest of the Borrower in and to any insurance policies then in force shall pass is the purchaser or grantee. 9. That as additional and collateral security for the payment of the note described, and all sums to become due under this instrument. the Borrower hereby assigns to the Lender all profits, revenues. royalties, rights and benefits accruing to the Borrower under any acrd; all oat and gas leases on said premises, with the right to receive and receipt for the same and apply them to said indebtedness as well before as after default in the conditions of this instrument, and the Lender may demand, sue for and recover any such payments when. due and payable. but shall not be required ys tug de. This assignment. is to terminate and become null and void upon tai"-,e of this instrument. 10 That the Borrower will keep the buildings up�,a,,,caid premises in good repair, and neither commit nor permit wa.`te 4rNn said laod.. nor suffer the said premises to be used for any unlaw;4l. purpose. 11. That if the premises, or any part thereof. be Wedemned under the pawtr of eminent domain, or acquired for a public use, the damages awarded, the proceeds for the taking of. or the consideration for such acquisition. to the extent of the full amount of indebtedness upon this instrument and the note which it is given to min.; :aing unpaid, sic hereby assigned try the Borrower to the Lender, and shall be paid forthwith to said Lender to be applied by the latter on account of the next maturing installments of such indebtedness 12. The Borrower further agrees that should this instrument and the note secured hereby rrM be eligible for insurance under the Mationat Housing Act wadhm eight months from the date hereof (written statement of sny'offrcer of the Mpanment of Housing and Urban Aevddpment or authorized agent of the Secretary of Hotr_stng: and Urban JDi%-cloprneat 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. declare all sums secured hereb? immediately due and payable. Notwithstanding the foregoing, this option may not be exercised by the Lender or the holder of the note when the InellglbtTttg.tor insurance under the National Housing Act is due to the 1i er' Ws failure to remit the ntortga=e insurance premium to the Department of Housing and Urban Development. 13. That Ifthe Borrower falls to make any payments of money when the saute become due. or fails to conform to and comply with F 89---o.-.-1-02856 inn. of the conditions or agreements contained in this instrument. or the note which it secures. then the entire principal sum and accrued interest shall at once become due and payable, at the electron of the Lender Lender shalt give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this instrument Ibut not prior to acceleration under paragraph 12 unless applicable law provides otherwise). The notice shall specify fa) the default. tb) the action required to cure the default; (c) a date, not less that?. 0 days from the date the notice Is given to Borrower, by which the default mist be cured; and (d ) that failure to cure the default on or before the date specified in the notice may result in acceleration Of 0-e sums secured by this instrument and sale of the Property. The notice shall funkier inform Borrower of the right to reinstate after ac4*cracion and the right to bring a court action to assen the non- existenc-e of a default or any other defense of Borrower to acceleration and sale. If the default is not cared an or before the date specified in the notice. Lender at its eptloo may require immediate payment in full of all sums secured. by this instrument without funhec demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender sEttitl be entitled to collect all expenses incurred in pursuing the IModies provided in this paragraph 13, including, but not limited to, reasonable attQrce.:s' fees and casts of title cviddnce. If the -power of•sale is invoked, Trustee shall m-erd a notice of default in each county in which air pan of the f?coperty is located and shall mail copies of such nonce err the manner prescribed by applicable !aw to Borrower and to the other persons prescribed by aPPMANe law After the time req,uxred'by applicable law, Trustee shall:go-e public notice of sale to the persons and In the manner prescribed by applicable law. Trustee, without demand on Borrower. shall sell the Property at public auction to the highest bidder at the time and place and under the terms des,anated in the.notice of =I.- Mune or more parcels and in any order Trustee determines. Trustee may pastpene isle 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 the Property at any sale. upon receipt of payment of the price bid. Trustee shall deliver to the purr&aser Trustce's deed ccmresteg the Property. The re6tahs in the Trii'sree's deed shall be prima fic4 evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to 211 expeLses of the.sale, including, but not limited to. Trustee's fees as pent ~`eda by applicable law and reasonable attorneys' fees. l b) to aiP. siirras. secured by this Security Instrument; and (c) any excess to the .person or persons legally entitled to it 14. Upon acceleration under paragraph 13 or abandonment of the Property. Lender (in person, by ages oar by judicially appointed recetvecr, 5ball be entitled to enter upoc: take possession of and manage the Property)tnd to collect cite rents of the Property including those past due. Any rents collected by Lender or the receiver shall be app[Lod first to payment of the costs of management Of the Property and collection of rents. including, but not limited to. receiver's fees, premiums on receivers bonds and reasonable attorney's fees, and then to the suMSt secured by this Instrument. Page 3 or 5 HUD•=143DT• 1 I . tt I