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r event of loss Floffkiwcf will give rmtneiliato aotw;e by mail to the Lender, who may make proof of eats If not m0441 promptly by Borrower, and each insurance compasy coecernari LS hereby authorized and directed to make payment hrr such loss directly to the Lender instead of to the &mower and the redder jointly, and the insurance proceeds, or any part thereof may be applied by the Lender at its option either to the Mduc kM 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 rrtortgsgdd property in extinguishment of the indebtedness secured hereby, all right, title and intercm 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 sums to become due under this instrument, the Borrower hereby assigns to the Lender all profit% revenues. royalties. rights and benefits accruing to the Borrower under any and all oil and gas kasea on said premises, with the right to receive and receipt for the same sad 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 date and payable, but shall: not be required so to do. This assignment La to terminate and beaxttc null and void upon release of this WO.rument. fr?. That the Borrower wilt keep the buildings upon said premises ter good repair, and neither uratmit nor permit waste upom said land. pas suffer the said pfemium -w, be used for any unlawful purpose. 11. That if the premtses, or any pan thereof. be condemned under the power of eminent domain. or acquired for a public use, the damasrs awarde& the proceeds for the taking of, or the consideration for such requisition, to the extent of the fat 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 ..__n _r...... tiya latter on account of the oYr<,t maturing i,iiia�n „u,M .� .�. . indebtedness. 12. The HW.Mwer further, :agrees that should this instrument ad the rate securril hereby WA br eligible f0adumttrance under the ••National Housing Act withiimtight months from the date hereof (smitten smwrnent of any officer of the Department of Housing and Urban Develognent or authorized agent of the Secretary of Housing `•sad Urban Development dated subwilueat to the eight months' time born the date of this instrument, dedimc.sg to insure said note and tb mortgage, being deemed 66deasive proof of such taeligibility). the Lender or holder oft* note may. at its option. dmUfe all sums secured hereby immediately due and payable. Notwithstanding the foregoing, this option may not be exercised by the Lender or the holder of the mote when the ineligibility for insurance under the National Housing Act is due to the Lender's failure to remit the 0WV4age insurance premium to the Department of tkmesing and Urbana Develc9MC111. 13. That if the Borrower Nib to make any payments of money when the same become due, of fails to conform to and comply with 89- .403651 any of Me, conditions or agrrements contsincd in this af►struntent, of the nd><e which it sn urn., then the entire principal sum and amrued interest shall at time become due and payable, at the electim of the Lender. Lender shall give notice to Borrower prior to acceleration folk-owing Borrower's breach of any covenant of agreement in this instrument (but no prior to acceleration under paragraph 12 unless applicable law provisoes otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the dare the notice is given to Borrower. by which the default most 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:iind sak of the Property. The notice shall further inform Borrower of tots right to reinstate after soceleration and the right to bring a coon action to amen the non- existence of a default or any other defense of Borrower to acceleration and sale. If the default is not cured on or before the date specified in the notice, !.ender at its option may requite immediate payment in full of all sums secured ¢y this instrument without further demand and may invoke the power of ale and 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. including, but not limited to, reasonable attorneys' fees and costs of title evidence. If the power of sale is invoked Trustee shall rcwrd a notice of default in each 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. After the time required by applicabsle fAw. Trustee shall give public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower. shall Sell the 1 operty at pudic auction to drt his — k3i `vi ams as 2sev time and place and under the terms designated in the notice of sale in one of more parcels and in any order Trustee determines. Trustee may postpone sale of all or spy parcel of the Property by public anrts.M--asnt at tM fiat- >•q! r4ce of any previau --dy scheduled sale. Leader or its do4 oe may purchase the Property at any sale. Upon receipt of payment of the price bid. Trustee. shall deliver to the purchaser Trusta's•ditd conveying the Property. The recitals in the Trustee's decd shalt be print& facie evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale, including, but not limited to. Trustee's fees as permitted by applicable law and reasonable attorneys' fcb% (b) to all sums secured by this Security Instrument; and ic) ao?yetrcess to the person or persons legally entitled to 4. . 14. Upon aoctleratu a under paragraph 13 or abatndonfimm of the Property. t.eadtr (ken person, by agent or by judkiagy appointed receiver) 51Wo be entitled to enter upon. take possessim 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 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 bonds and reasonable attorney's fem and that to the sums secured by this instrument- -- - -_ Pogo 3 of 5 � • s