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F. F ..__.... g event of law Borrower will give immediate notice by mail to the 1MWW who aaay make proof of lase if not made promptly by Borrower, and each irtsu�raace company concerned is hereby aW1111oriaed and directed to make payment for such km directly to the Leader iastead of to the Borrower rnd the Leader jointly, and the iawanoe proceeds, or any Part thefeof, may be applied by the each at ifs option either to the reduction of the indebtedness battby secured or to the restoni ion or repair of the pr+UpeOY damaged. In event of foreclosure of this instrument or other transfer Of title to the mortgaged property in extinguishment of the indebtedaess secured hereby, all right, tick and interest of the Borrower in and to any insurance policies then in force shell. pass to the purchaser or grantee. 9. That as additional and collateral security for the payment of the aote described; and ap suns to become due under this instrument. the Borrower bait a *ft to the Lender all profits. M"a tas, royaflh-A rights and beaefns accruing to the Borrower udditfr arty and at! oil and gas leases on sand premises, with the riot 10 revr're and nvipt for the same and apply them to saw irldelnWress as well Wm as after ddadt in the conditions of ft htL4mnjent, and the Lender may demand, site for and t'awwr ap;=h payments when due and payable. but shall not be ttQ+tf) do. Thi1 assignment is to terminate gad become null and void. upc.a rekase of this instrument. 10. That the Borrower will keep the buiWittgsi upon said premises in good repair. and aeitber Cottunit nor permit waste upon: saW land, nor SAW the said premises to be used for any unlawfi L, pmpase. I I. Tbat if tails ptur M" . a any part thereat, be condemned under the power of Cmineat domain. or acquired for a public use. the damages awarded, the proceeds for the taking of, or the CoNs deratioa for such aequisiition, to the extent of the full amount of Wk6ledaeaa upon the instrument and the note which it is given to secure remaining unpa4 are hereby &=tried by the Borrower to the Leader. and shall be paid forthwith to said Lender to be applied by the latter on account of the next maturing iffiWiments of such bolkbeftess. 12. The Borrower further agrees that amid this instrument. and the note secured hereby not be eligible for inwrance 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 rlae eight months' time from the date of Ibis instrument. declining to''=' 'we said note and this matgage..beift,,deenaed conclusive proof of such ineligibility), the Leader or bolder of the note may, at its option, declare all sums eecuci&hereby immediately dwelwDd payable. Notwithstanding the kMW*W, this option may not heaircised by the Lender or the holder of the ode wka. the ineligbiity for insurance under the National Rowing 4 due to the Lender s; fiu-f' - to remit the prtftii$M fa tart llkptitrme(tai'd Housing and Urban Development. 13. Tbnt if the Borrower fails to make any payments of money when the same become due, or bib to Conform to and comply with any of the conditions or sgreemills 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 election of the Lender. Lender shall give notice to Borrower prior to aocekmWn following Biwower's breach of any covenant or agreement in this instrument (but not prior to acceleration under paragraph 12 unless Applicable taw provides 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 date ft notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the dace specifff d is the notice may result in acceleration Of the sums secured by *S f rsstrument and sale of the Property. The notice shall further iafOM 80aower of the right to reiftsiate after accekation and the right, to brims a Court action to assert the non- existence of a default or any other defense of Borrower to acceleration and sale. If the default is ache, ctraed on or before the date specified in the notice, Lender at its option may require immediate payment in foil of all suns smured by this instrument without further demand and may invol<X, the power of sale 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, out not limited to, reasonable attorneys' fees and costs of faiths evidence. It the power of sale is invoked. Trustee shall record a notice of default in each county in which any part iA die Property is located gad shall mail copies of such notice in tltte maner prescribed �bjy �11nt1I`lr1r� IyW �� i,"i,'i• a..d to •� bW applicable law. After the tirne.required by applicable Trustee by shall give public notaioe of SAW to. the persons and in the manner prescribed by applicable law. Thwee. without demand on Borrower, shall sell tlw- Pi ty M ?UM" auviOr; to (6 nigimm bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and a wry order Trustee determines. Trustee May postpone sak of all or as jy parcel of ft Property by.pubk announcement at the time and place of airy lireviofsly scheduled sale. Lender or its designee may purchase. tlte: property at any ale. Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed raonveying the Property. The redtals in the Trustee's deed.sball be prima facie evidence of the truth of the statements made aertia. Trustee x411 apply the proceeds of the ask in the followw' W44cr. (a) to all expenses of the sale. including, but mot. limited to. ?rustee's fees as permitted by applicable law and twmnable attorneys' fees; .(b� to all sums secured by this Security Ittstrurnemt; and (c) any cx= to the person or persons legally entitled to it. 14. Upon acnd nation un' der paragraphs 13' or abandonment of the PtPgCrty, Lender (in Person,* agent or by judicially appointed raaxecver) shall be entitled to COW upon. take possession of and manage the Property and to collect the rents of the Property including thawa:peg due. Any rents collected t)y Leader or the receiver shalt 1x~ applied first to payment of the costs of management Of IM Prsrltcrty and Collection of rents, including, but not limited to. r=iver t firs, premiums on receiver's bonds and reasonable attoraey's:fees, and then to the sums secured by this instrument. Page 3 of 5 MUD- 92143DT -1 ft f.