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r event of lots Bdrrvwer will give immediate notice by trail to the tender, who may make proof of forts if not made puinupOY by Borrower. and each insurance company concerned is hereby attthorined and dirmcied to make payment A.* such loss directly to the Leader mowed of to the Borrower and the Lender jointly. and the insurance ptoceW or any part thereof, may be applied by the tender at its option either to this mducton of the indebtedness hereby secured or to the reo motion or repair of the property damaged. In event of fdxoelaaure of this instrument or other transfer of tide to the mx►Agaged property in extinguishment of the indebledae% serurrld hereby, all right. title and interest of the Borrower in sad to may insurance policies then in force shall pass to the purchaser or grantee. 9. That as additional and collateral security for the payment of the acre described, and all sums to become due under this instrument, the Borrower hereby assigm to the Lender all pmts, revenues, royalties. rights and benefits accruing to the Borrower under any and all ode and gas leases on said premises, with the right to receive and receipt. for the same and apply lkm to said indebtedness as well before as after default in the conditions of this instrument. and the Leader may deatacul.,sue for and recover any such payments 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 thus Instrument. 10. That the Borrower will keep the buildings upon sand premises in good repair, and neither commit nor permit waste upon said land. nor suffer the said premises to be used for any unlawful purpose" 11. That if the premises, or any pan thereof, be condemned under the power of eminent dornain, or acquired for a public use, the damages awatdeul„ the proceeds for the taking of. or the oanideretion for wsch acquisition, to the extent of the full amount of indebtedaeea upon this irntruus at and the note which it is sivm to secure remaining uapaid, arc hereby assigned by the Borrower to the Leader, and shall be paid forthwith to said lender to be applied by the latter on aurouni tithe dicat uliiudnig iPthu1amcPtti Of sud;it indebtedness. I2. 'Kane Borrower further agrees that should this instrument and the note secured hereby not be eligible for insurance under the National Housing Aix within eight months from the date hereof (wriium stateweezclany 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 Firom the date of this irutrum aL declining to insure said noes and tbk i nortgage, being deemed conclusive proof of such idelWi rZity). the Lender of holder of the note may. at its option. declare ail yams secured hereby immediately due and payable. Notwithstanding the fccegoing, this option may not be exercised by the Lender or the bo cr of the note when the ineligibility for insurance under the Nitional Housing Act is due to the Lender's failure to remit the mortgage insurance premium to the Department of Housing and Urban Development. 11 Tba main Borrower fails to make any payments of money whoa Chic•sarne become due, or fails to conform to and comply with 10339 any of the conditions or agreements contained in this instrument, or the mate which it secures, then the entire l+tincipal cunt and accrued interest shall at once become due and payable. at the election of the Lender. Lender shall give notice to Borrower prkw to acceleration following Borrower's breach of any covenant Of agreement in this instmnneat (but not prior to acceleration under paragraph 12 UWM applicable law provides otherwise). The notice sMll specify: (a) the default; (b) the action required to cure the default. (c) a date, not less than 30 days from the date the notice is given to Borrower. by which the default must be cured; sad (d) that failure to cure the dedaull on or before the date specified in the notice may mull in acceleration of the sums secured by this instrument ikad sale of the Property. The notice shalt further inform Borrower of the right to reinstate after acceleration and the right to bring a coun action to assert the non- existence of a defaull or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the betiee. Lender at its option may require immediate payment in full of, ail sums secured by this instrument without further dem 6d•xu i may invoke the power of sale and any other ram4lies permitted by applicable law. Lender shall be entitled to corked all expenses incurred in pursuing the remedies provided in this paragraph 13, including, but not limited to, reasonable attorneys fax and costs of title evidence. If the power of sale is invoked. Trustee shall record a notice of default in each county in which any pan of the Property is located and shall mail copies of such notice in the manner prescribed by ag+l,+ "ble Ix* to Borrower and to the other persons prescribed by applicable law. After the time required byappWable law, Trustee sNzU give public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand an Borrower. shall sell the Property at public; auction to the highest 1l4der at the Oft . :_ .L... _..w:.... _S ...1_ tint and place ami unkw inc Z affil &i � u� sac uanKn: w ram in one or more parcels and in any order '6um ee determines. Trustee may postpone sale of all or any parcel of the Property by public announeaiiactat at the time and Place of ani Fi.'viou'.ly Wh dY.M sae. Lender or its designee may purchase. the Property at any sale. Upon receipt of payment of the price bk. Tcusw shall deriver to the purchaser Trustee's deed conveying the Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the sdmtements made therein. Trustee shall apply the prcaoe& of the ale ins ¢foe following order. (a) to alp expenses of the sae, Wading, but M limited to. Trustee's fees as permitW by-applicable law and reasonable attorneys' fees; (b) to all sung smrod by this Security Instrument; and (t) any excess to the peisaxr or persons legally entitled to it. 14. Upon ametrpt on under paragrapix 13 or abandonment of the Property. Lenddar(in person. by agent or by-judicially appointed receiver) shall' be entitled to enter upon. take possession of sad MOW the Property and to collect the rents of the property induding those put 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 rents, including. but not limited to. receiver's fees, premiums on receiver's bond• aed reasonable attorney's fee% and then to the sums secured by this instrument. Page 3 or 5 t1UD- 12t�ISDT•tl W w