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made shall be added to the principal sum a►ving on the above note, shall be secured hereby. and shalt beat intcrc %t at the rate set forth in the said note, until paid, T. That the harrower hereby assigns, transfers and sem over to the lender, to be applied jow;trd the payment of the note and all sums seduced hereby in case of a default in the performance of any of the terms and conditions of this instrument or the said note, all the rents. revenues and income to be derived from the said premises during such time as the indebtedness shall remain unpaid, and the Lender shall have power to appoint any agent or Writs it may desire for the purpose of repairing said premises and of renting the same and collecting the rents. revenues and income. and it may pay out of said incomes all expenses of repairing said premises and necessary commissions and expenses incurred in rent- ing and managing the same and of collecting rentals therefrom; the balance remaining. if any, to be applied toward the discharge of said indebtedness. S. That the Borrower will keep the improvements now existing or hereafter erected on the property, insured as may be required from time to time by the Lender against loss by fire and other hazards. casualties and contingencies in such amounts and for such periods as may be required by the Leader and will pay promptly, when due. any premiums on such insurance provision for payment of which has not been made hereinbefore. All insurance shall be carried in companies approved by the Lender aqd the policies and renewais thereof shall be held by the Lender and have attisdied thereto loss payable clauses in favor of and in form acceptable to the Lender. in event of loss Borrower will give immediate notice by mail to the Lender, 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 clue reduction of the indebtedness hereby see -ured or to the restoration or repair of the property damaged. in event of foreclosure of this instrument or other transfer of title to the mortgaged ptopirty 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 note described, and all sums to become due under this ►nstn►- ment, the Borrower hereby assigns to the Lender all profits. revenues. royalties. nghts and benefits accruing to the Borrower under any and all- oil and gas teases on said premises. with the right to receive and receipt for the same and•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 due and payable, but shall not be re- guired'sp.to do,.This assignment is to terminate and become null and void upon ideaw of this instrument. !(k. tilat the Borrower will krxp the buildings upon said premises in vu d repair. and neither cmlatmit not permit waste upoli. said land, nor suffer the said preen Lits to be used for any unlawful purpose. 11. That if the premises, or airy pan thereof. be condemned undgr.the power of eminent domain. or acquired for a public use. the dasruWs awarded. the proceeds for the takin= of, or the con - sideration for such acquisition, to the extent of the full amount of indebtedness upon.this instmmMil aril the note which it is given to secure remain ft urtpaid. are hereby assigned by the Borrower to the Leader. and serge] be paid forthwith to said Lender to be ap- plied by the latter on acdnunt of the next maturing installments of such indebtedness. 12. The Borrower further agars that should this instrument and the note secured hereby not be eligible for insurance under the Na. tional Housing Act within eight months from the date hereof twritten state rmi of any offteer of the Department of Hooting and Urban Development or authorized agent of the. Secretary of Housing and llrbaii Development dated subsequent to the eight months' time from the date of this instrument. declining to insure said note and this mong"t. beirtt deemed conclusive proof of such ineligibility), the Lender or holder of the note may. at Its op- tion, declare all sums secured hereby immediately due and payable. NoWilltstandina the foregoing. this option may not be exercised by the Lender or the holder of the note when the ineligibility for insurance under the National Housing Act is dite to the Lender's failure to remit the mortgage insurance pten)itim to the Depart- ment of Housing and Urban Mveopment. 13. That if the Borrower fails to make 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 iltis instru- ment, 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. Ldider 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 action required to cure the default; (c) a darn, not less 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 default on or before the date specified in Ore notice may result in acceleration of the sums secured by this insrtuntent and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to bring a . court action to assert the non-existence of a default or any other defense of Borrower to acceleration and sale. if the defaulvis,ngt cured on or before the date specified in the notice, I.endRr at it . option may require immediate payment in full of all scans se�cti a '. by this instrument without runifet demana ana may ]woke tree] •. power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect alt expenses incurred in pursuing the remedies provided in this paragraph 13, incl►tding„ bet ))not liuiitta io. uaionawlc anomt" -s fCYS -rd -vats of titre C- ,�- dcncig. If the power of sale is invoked. Trustee shall record 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 precribed by applicable law. After the time required by applicable law. Trustee shall give public notice of sale to the persons and in the manner prescribed by applicable law. Trustee. without demand on Bor- rower. shall sell the Property at public auction to the highest bid - dcr at the time and place and under the terms designated; in the notice of sale 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 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 Tros:ee's deed conveying the Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee shall apply the pro- ceeds of the sale in the following order: (a) to all expenses of the sale, includin¢. but not limited to. Trustee's fees as permitted by applicable law and reasonable attomeys' fees; (b) to all sums secured by this Security Instrument; and (c) any excess to the per- son or persons legally entitled to it. Page 3 of 5 T s. HUD•l2143DT I i a= w .�