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r _ .- 89- '6103703 twat of tors Borrower will give immediate notice by marl to the Lender, who may make proof of kVA if not made prtamptly by Borrower. and each insurance company eoaKwned is hereby authorized and directed to make payment for such bas directly to the [Rader imAcad of to the Borrower sad the Leader jointly, and the insurance pfoeoocls, or say part thermE may be applied by the Leader at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property dawaged Is event of foredcaum of this instrument or other transfer Of title to the mortgaged 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 ante described, and all sums to become due under this instrument, the Borrower hereby aatigns to the Lender all profits, revenues, royalties, rob and benefits accruing to the Borrower under any and all oil and gas kases on said premism with the right to receive and receipt for the taste sad apply them to said indebtedness as well before as after default in the conditions of this instrument, and the Leader may demand, sue for and recover any such payments when due and payable, bee shall not be required so to do. This assignment is to terminate and become null and void upon rekase of this itntrume"'. CO. That: this Borrower will keep the buildings upon said premises im -rand repair. and neither commit nor permit waste upon said land. AM suffer the said premises to be used for any unlawful purpose. 11. That if the premism or any part thereof he mn.,n ,....i.. the power of etmi -wet domain, or acquired for a public use, the damages awarded, the proceeds for the taking of, or the Consideration for such acquisition, to the exteet of the full amount of indebtedness upon this instrument and the now which it is given to secure remakting unpa4 are hereby asa*W by the Borrower to the Leader. and alts!! be paid forthwith to said Lender to be applied by the latter on account of the next maturing installments of such iadebtednew 12. The Borrower further agrees thtu should this instrument and the note secured hereby not be eligible for insurance under the National Ho@W* Act within eight months from the date hereof (*Theca statement of =y. officer of the Department of Housing and ifrban Development or audwrized agent of the Secretary of Housing 'arid Urban Development dated subsequent to the eight months' time from the date of Ibis instrument. declining to insure said note and this mortgage; being deemed conclusive proof of such ineligibility), the tender or holder of the ante may. at its option, declare all sums secured hereby imrnedisady due and payable. Notwithstanding the foregoing, this option may riot be exercised by the Lender or the holder of the note when the indigibdity for insurance under the National Housing Act is due to the Leaders failure to remit the nm gee premium to the Department of Housing AM Urban 13. That if the Borrower fags to snake any payments of money when the same become due. or fails to conform to and comply with any of the conditions or agreements contained in this instrument, at the note which it secures, then the entire principal sum and accrued interest 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 of agreement in this instrument (but not prior to acceleration under paragraph 12 unless applicable law provides otherwise). The notice shalt specify: (a) the default; (b) the action required to cure the default; (c) a date. not ten than 30 days from the date the notice is given to Borrower; by. which the default must be cured; and (d) that failure to cure the dafa.W4 on or before the date specified in the notice may result in aeeelenitkn Of the sums secured by this instrunxnt and sale of the Property. The notice shall further infirm Burrower Of the right to reinstate Met; acceleration and the right to bring a crjttrt action to assert the ow existence of a default or any other defense of Borrower to acceleration and sale. if the default is not cured on or before atie date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this instrument without further demand and may invoke the power of sale and any otW. remedies permitted by appliV&Me law. Lender shall be entitled in Collect all expenses incurred in punuineg the remedies provided in this paragraph 13. including, but OW limited to. reasonable attorneys' fees and costs of title evidence. If the Power of sale is invoked, Trustee shall record a notice of default to each county in which anj -oart of the Property is bcated and shall mail Copies of such notiCtiim the manner MvsCribed -by applicable law to Borrower and to the other persm Frescribed by �....r• �� a w wu_ -.u_ .• _ roquin�0 by apph=bw IM, Tr1Wee rr�� •+�+• naact ta�c utat shall give public notice of seek 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 :iff— ar—'i ig= : Td e:."'r,.�.: th:.:er:r:s �iynated in_ ac:ice e. =k in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of the Property by public announcement at the time and pince0any previously scheduled sale. Lender or its designee may puree the Property at any seek. Upon roteipt of payment of the Price bid, Trusone shall deliver to the purchaser Trustee's deed Conveying the poop M-. -The recitals. in the Trustees deed WWI be prima facie evidence of the truth of tithe. . statements made therein. Trustee shaGiJ apply the proceeds of the sih in the following order. (a) to all expenses of the sale, including, bdi not limited to. Trustee's fees as permitted by applicable low and reasonable attorneys' keg (b) to all'sums secured by this Security Instrument; and (c) any, excess to tk. person or persons legally entitled to it. 14. UPon acceleration under paragraph 13 or abusdonment 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 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 attorneys fees, and then to the sums secured by this instrument. Paso 3oP 5 M1JD•t)ltalOT -1 J i� >aK �c