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r event of loss Borrower will give immediate notice by mail to the Lender. who may make proof of loss if not trade promptly by Borrower, and each insurance company concerned iv 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 the reduction of the indebtedness iereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this instrument or other transfer of tick to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, tide and interest of the Borrower in and to any insurance policies then in fora shall pass to the purchaser or grantee. 9. That as additional and collateral security for the payment of the note describeA.aW all suers to become due under this instrument, the Borrower baby assigns to the Leader all profits, revenues, royalties, rig IA and benefits accruing to, #W Borrower under any and all al and gas leases on. said daises, voc04he right to receive and receipt for the same and .y. t1t4m to wild indebtedness as well Wore as after default in tare cxmgtioerr of this instrument, and the Lender may demod, sue Weacnf.rem4c•any such payments when due and payable. but shalt a(A be rc udcd w to do. This assignment .is to terminate am become -MA and void • upm releuo of this i **Wren 10. That the Borrower will keep the buildings upon said 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 pmmises. or anv uart tbereoL be condemnM under the power of eminent domain, of acquired for a public use, the damages awarded, the proceeds for the taking of, or the consideration for such acquisition, to the extent of the full amount of indebtedness upon chi's instrument and the note which it is given to secure retttaiaiug unpaid, are hereby assigned by the Borrower to the Lender, and shall be paid forthwith to said Lender to be applied by the latter on account of the next maturing installments of such indebtedness. 12. The Borrower further agrees that sbould this instrument and time note seared hereby not be eligible for insurance under the Nadwal Hooting Act within eight months from the date hereof (writuo Moment of any officer of the Department of Housing and Urban Development or authorized agent of the Secretary of Housing and Urban Devetapasent dated subsequent to the eight months' time from the date of this instrument, declining to insure said note and this morlllw. being darned conclusive proof of such ineligibility). the lender or holder of the note may. at its option. declare all sums secured bereby immediately due and payable. Notwithstanding the foretOW , Olds option may not be exercised by the Lender or the holder of the note when the ineligibility for insurance under the Nadowd Hoeing Act is due to the leader's failure to remit the sor%w iaaaraaoe premium to the Department of Housing and Urban Developmest. 13. Tint if the Borrower faits to make any payments of money wien the samte bmotne do& or fails to conform to and comply with 89 --103 817 any of the conditions or agreements coraained 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 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 date, 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 the notice may result in acceleration of the sums secured by this instrument 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 aeockration and sale. If II)a default is not cured on or before the 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 pgwcr of sale and any other remedies permitted by applicable la**. Leo&r dealt, be entitled to collect all expenses incu.r'md in, Purszht*die tewedkm provided in this paragraph 13, includnnq* atu nor hmiW to, ba"�le attorneys' fees and costs ctf Wc vviiienm . If the power of sale•is invoked. Trustee shall recada notice of default in each county it) which any part of the Property is located and shalt mail copies of such notice in the manner prescribed by applicable law to Borrower and to the other persons prescribed by aDDlicabk law. After the. lire ew�nirwwl by _ fir:.. ,t. t.— shill give public notice of�sale 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 time and place and „n.r tht terma des$atcd in tab iwiw in sale in one or more parcels and in any order Trustee determines. Trust= 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 desigrm-may purchase the Property at any sale. Upon receipt of payment of the, price bid, Trustee shall deliver to the purchaser Trustee's deed conveying the Property. The recitals in the Trustees deed shall be primal" evidence of the truth of the statements made thereha. Tpwese shall apply the pmzods of the sale in the following order. (a) to all expenses of the sak;'fnduding, but not limited to. Trustee's fees as permitted by applicable law and reasonable attorneys! fees; (b) to all sums secured by this Security Instrur eaq and (c) any excess to the person or persons.k.gally entitled 6 tit. 14. Upon acceleration under paragraph 13 or abandonment 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 pau due. Any rents collected by leader or the receiver shall be applied first to payment of the costs of management of the Property and cdtoetion of coats, indudieg, 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 Page 3 of 5 ^` �t�t121�T•1 i, r f `•t -