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r event of ices &irrower will give immediate notice by mail to the !.ender, who may 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 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 fcreclaure of this instrument or other transfer of title to the mtxtgagod property in extinguishment of the indebtedness 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 we described, aid all sums to bewme due under this instrument. the Borrower hereby ataigis to the Lmder all profits, revenues, royalties rights and benefits aecruiag-to Qk4i orrower under aev &74 all oil and gas tees oa said premises, with tl5e:riglhi to receive and receipt for the same and apply them to sail raykbn,dness as well before as after default in the conditions of ti,ic i>strument, and the Lender may demand. sue for and recover auv such payments when due and payable. but shall not be requited sa to do. This assignment is to terminate and become null and void upon aelease of this instrument. la That the Borrower will keep the buildings capon said premises ill good repair. and neither commit nor permit -waste upon said land, so surer the said premises to be used for any unlawful purpose. 11. That if the premises, or any part thereof. be condemned under the power of eminent domain, or acquired for a public use, the damages awarded, the proceeds for the taking of or the eonsideratice for sucb 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 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 bereby not be eligible for insurance under the National Housing 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 subsequent to the eight months' time from the date of this imminent, declining to insure said note and this mortgage, beiag jdoeaned conclusive proof of such ineligibility). the Lendercubolderof the now may. at its option, declare all sums secured haeby imnied ately due and payable. Notwithstanding the foregoigf, this optii>ra gray not be exercised by the Lender or the bolder of the atote whot the ineligibility for insuranae under the Nati" Housing Act is due to the Lender's failure to remit the atorlgttge insurance premium to the Department of Housing and Urban Development. 13. That if the Borrower fails to make any payments of money when the saute become due, or fails to conform to and comply with 89`- x,03004 any of the conditions or agreements contained in this instrument. or the note which it secures, then the entire principal sum and accrued interact shall at once become due and payable, at the election of the Lender. Lender shall give notice to Borrower prior to acceleration following Borrower's 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; (b) the aWon required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Harrower, 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 sec night to bring a court action to assert the non- existence of a ci+ 44r,2.'or any other defense of Borrower to acmlemtion grid sate. If the default is not cured on or before the date :sprifned in the notice. Lender at its6ption may require immediate payment in full of all sums secure &B y this instrument without further demand and may invoke the power of sale and any other remedies permitted by applicable. lave:. Lender shall be entitled to collect all experism incurred in puns• ing the remedies provided in this pat mgraph 13, including, bat ma-4 limited to, reason, attmncW fees and Goats of titleev*nce. If the power of sale is invoked, Trustee shalt record a notice of default in eaclu county in which any part of the Property is located and shall mail copies of such notice in the manner prescribed by applicable law to Borrower and to the other persons prescribed by applicable law.. Atla the time required by applicable law. Trustee shall give public notice of sale to the persons and in the manner prescribed by anplil`ahle law: Truster, witlstust dem-.td or.::, ^. :.,.:.., shall sell the Property at public auction to the highest bidder at the time esd pb�—_ and under tier terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of aOl 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 purchaser Trustee's deed convcs_.�ing the Property. The recitals in the Trustee's deed stall be prim €age evidence of the truth of the statements made therein. Trustee dill apply the proceeds of the sale in the following order. (a) to Cie. Gnaw of the sale, including. but not; limited to. Trustee's fees as permitted by applicable law and rcasam d* attorneys; fees; (b) to ail sums secured by this Security Instrwaaeut; and (c) any excess to the person or persons legally entitled to it. li 4. 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 upon, take possession of and manage the Property and to collect the rents of the Property including those past due. Any rents collected by Lender or the receiver shalt be applied first to payment of the costs of management of the Property and collection of rents, including, but not limited to, recehtF's fees, premiums on receiver's bonds and reasonable attorney's•fees. and then to the sums secured by this instrument. Page 3 or 5 . _._. __ — - -- — --- •-- •-�-�— - • --- NuO�Q't r�OT•1 7 ;i isr • 't ;i isr