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<br />$�- 103918
<br />made shall be added to the prinzipal sum owing on the above
<br />note, shall be secured hereby, and shall bear interest at the rate set
<br />forth in the said note, until paid.
<br />7. That the Borrower hereby assigns, transfers and sets over to
<br />the Lender, to be applied toward the payment of the note and all
<br />sums secured hereby in case of a default in the performance of
<br />any of the terms and conditions of this instrument or the said
<br />note, 211 the rents, revenues and income to be derived from the
<br />said premises during such time as the indebtedness shall remain
<br />unpaid, and the Lender shall have poser to appoint any agent or
<br />agents it may desire for the purpose of repairing said premises and
<br />of renting the same and collecting the rents, revenues and income,
<br />and it may pay out of said incomes all expenses of repairing said
<br />premises and necessary commissions and expenses incurred in rent-
<br />ing and managing the same and of collecting rentals therefrom;
<br />the balance remaining, if any, to be applied toward the discharge
<br />of said indebtedness.
<br />8. That the Borrower will keep he vnprove. mzmzs now exWing
<br />Or hereafter erected on the progerai..:cured -a4 iray be required
<br />from time to time by the Lender loss by fire and o:b:r
<br />hazards, casualties and contingence,. :: in such amounts and for such
<br />periods as may be required by the. Lender and will pay promptly.
<br />when due, any pmmiuns on such insurance prosision for payment
<br />of which has not tvecT made hereinbefore. All insurance shall be
<br />carried in companies approsed by the Lender and the policies and
<br />renewals thereof shall be held by the Lender and have attached
<br />thereto loss payable clauses in fasor of and in form acceptable to
<br />the Lender. In even ^..of loss Borrower will give immediate notice
<br />by mail to the Lehr, who may make proof of loss if not made
<br />Promptly by Borrower, and each insurance company concerned is
<br />hereby authorized and directed to .make payment for such loss
<br />directly to the Lender instead of te the Borrower and the Lender
<br />jointly, and the insurance proceed'_-, or any part thereof, may be
<br />applied by the Lender at its option either to ct_ti reduction of the
<br />indebtedness hereby secured or ao .the restoration 6r repair of the
<br />property damaged. In event cf E,?vcclosure of this instrument or
<br />other transfer of iii a to' "hC iii Cii : :iFUZN' : ;,-
<br />of the indebtedness secured 1^ei4hs, all right, title and in:ere<r 'if
<br />the Borrower in and to any insurance policies then in force shall
<br />pass to the purchaser or grantee.
<br />9. That as additional and cotln etal security for the paytsent of
<br />the note described, and all sums to become due under this instru-
<br />ment, the Borrower hereby assigns to the Lend-. t all profits.
<br />revenues, royalties. rights and benefits accruing to the Borrower
<br />under any and all oil'and gas leases on said premises, with the
<br />right to recehe and receipt for the same and apply them to said
<br />indebtedness as well before as after default in the conditions evf
<br />this instrument. and the Lender may demand, sue for and mover
<br />any such payments when due and payable. but shall not be re-
<br />quired so to do. This assignment is to termini -e and become null
<br />and void upon release of this instrument.
<br />10. That the Borrower will keep .he buildings upon said premises
<br />in good repair, and neither commit nor pernfit waste upon said
<br />land. nor suffer the said premises to be used for any unlawful
<br />purpose.
<br />11. That if the premises, or any pan thereof. be condemned
<br />unda the power of eminent domain. or acquired for a public: use.
<br />the damages awarded, the proceeds for the taking of. or the con-
<br />sideration for such acquisition, to the extent of the full amount of
<br />indebtedness upon this instrument and the note which it is given to
<br />secure remaining unpaid, are hereby assigned by the Borrower to
<br />the Lender, and shall be paid forthwith to said Lender to be ap-
<br />plied by the later on account of the next maturing installments of
<br />such indebtedness.
<br />12. The Borrower further agrees that should this imttument and
<br />the note secured hereby not be eligible for insurance under the Na-
<br />tional Housing Act within eight months from the date hereof
<br />(written statement of any officer of the Department of Housing
<br />and Urban Development or authorized agent of the Secretary of
<br />Housing and Urban Development dated subsequent to the eight
<br />months' time from the date of this instrument, declining to insure
<br />said note and this mortgage. being deemed conclusive proof of
<br />such ineligibility), the Lender or holder of the note may, at its op-
<br />tion, declare all sums secured hereby immediately due and payable.
<br />Notwithstanding the foregoing, this option may not be exercised
<br />by the Lender or the holder of the note when the ineligibility for
<br />insurance under the National Housing Act is due to the Lender's
<br />failure to remit the mortgage insurance premium to the Depart-
<br />ment of Housing and Urban Deveopment.
<br />13. That if the Borrower fails to make any payments of money
<br />when she same become due, or fails to conform to and comply
<br />with any of the conditions or agreements contained in this instru-
<br />nitin. or the note which it secu,Tes, then the entire principal sum
<br />ap~d x.vmed interest shall at c ice become dote and payable, at the
<br />el tit;ion of the Lew1 r.
<br />ies;der shall give notice to Boarow•er prior to acceleration
<br />fell,_ Ong Borrower's breach of any covenant or agreement in this
<br />irstrument (but not prior to acceleration under paragraph 12
<br />ur!`6s applicable law provides otherwise). The notice shall specify:
<br />kaf the default; (b) the action required to cure the default; (c) a
<br />date;, not less than 30 days from the date the notice is given to
<br />Bereawer, by which the default must be cured; and (d) that failure
<br />to cure the default on or before the date specified in the notice
<br />may result in acceleration of the sums secured by this instrument
<br />and sale of the Property. The notice shall further inform Borrower
<br />of the right to reinstate after acceleration and the right to bring a
<br />court action to assert the non - existence of pc tiiault or any other
<br />defense of Borrower to acceleration and sale. ' {f the defi;plt is not
<br />cured on or before the date specified in the .notice, Leader at its
<br />,arson may require immediate payment in. full of all sums secured
<br />:.: this Instrument without furilicr dcn:aad' aim may iiiav$e the
<br />power of sale and any other remedies permitted by applicable law.
<br />Lender shall be entitled to collect all expenses incurred iry pursuing
<br />the remedies provided in this paragraph 13, including, but. not
<br />lin cd to, reasonable attorneyi' fees and costs of title e%,'dence.
<br />If the power of sale is inv9ked. Trustee shall record a notice of
<br />default in each county in wbitd't any part of the Property is located,
<br />and' shall mail copies of suds, it(ztice in the manner prescribed by
<br />app4i.abte law to Borrower, !rid. to the other persons precribed by
<br />applicable law. After the time required by applicable Uix. Trustee
<br />shall give public motice of sale to the persons; gnd in rite manner
<br />prescribed by app?"rcable law. Trustee. will ma demand L—n Bor-
<br />rower, shall sell the Property at public aucilon to the hiWie§t bid-
<br />der at the time and place and under the terms designataf+ in the
<br />notice of sale in one or more parcels and in any order trustee
<br />determines. Trustee may postpone sale of all or any parcel of the
<br />Property by public announcement at the time and place of any
<br />previously scheduled sale. Lender or its designee may purchase the
<br />Property at any sale.
<br />Upon receipt of payment of`the price bid. Trustee ",deliver
<br />to the purchaser Trustee's deed conveyin4 the Property. The
<br />recitals in the Trustee's deed shall be ptrfttta; facie evidence of the
<br />truth of the statements made therein. Trustee shall apply the pro-
<br />coeds of the sale in the following order: (a) to all expemes of the
<br />sale. including, but not limited to. Trustee's fees as pets itted by
<br />applicable law and reasonable attorneys' fees; (b) to all sums
<br />secured by this Security Instrument; and (c) any excess to the per-
<br />son or persons legally entitled to it.
<br />Pao@ 3 of 5 HU0421430T
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