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I 89.-- 103920 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 the reduction of the indebtedness hereby secured or to the restoration or repair of the properly damaged In event of foreclosure 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 note described. and aU sums to become due under this instrument. the Borrower hereby assigns to the Lender all profits, revenues, royalties, rights and benefits accruing to the Borrower under any and all oil and gas lases on said premises, with the right to receive and receipt for tit same and apply them to said indebtedness as well before as after default in the conditions of this instrument. and the 1rnder may demand. sue for and recover any such payments when dote and payable, but shall not be required so to do. This assignment is to terminate and become null and void upon release of this instrument. i0. That the Borrower will keep the buildings upon said premises is good repair, and neiftrcommit nor permit waste upon said land. nee wffer the said premises to be used for any unlawful purpose. 11. Thal if thc^.premism or any pan thereof, be condemned under the n^`"" Of &GOimd 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 this instrument and the note which it is given rn secure remaining unpaid. are hereby assigned by the Borrower to the Lender, and shall be paid forthwith to said tender to be applied by dL -Dauer on account of the next maturing installments of such WkJatednuss, i• 12• The 8inr3wer further agrees that should this instrument and the note seeuuxd. biereby not be eligible for insurance under the National Ham: Ace within eight months from the date hereof ..'ritten stateme0t of any officer of the Department of Housing and ticban Devdo� eat arc authorized agent of the Secretary of Housing sad Urban Devd'opmmt dated subsequent to the eight months' time from the date of this instrument. declining to insure said note and ft 0101` LM bang deemed conclusive proof of such ineligibility). the Tender or holder of the note may, at its option, declare all sums sensed hereby.immedialety dice and payable. Notwithstanding the foregoing, this opdon may not be exercised by the Lender or the holder of the mote when the ineligibility for insurance under the National HOuSi*'Act is due to the Lender's failure to remit the Premium Lathe Department of Housing and ,Mban Development •13. That if the Borrower fails to make any payments of money *ben the same become due. or fails to conform to and comply with any of the conditions or agreements contained in this instrument. or the note which it secures, then the entire principal sum and aarued 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 deiull ((b) the�on�required o cure the defaultt (c) specify: ae. 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 cwut action to assert the non- existence of a default or any other dote m. of Borrower to acceleration and sale. If the default is riot 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 power of sale and any other remedies permitted by applicable law. Lender shall be entitled to. collect all expenses incurred in pursuing the remedies prodded in this paragraph 13, including, but not limited to, reasonable attorneys' fees and costs of title evidence. If the power of sale is invoked, Tree 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 prescrihed by Applicable law to Borrower and to the other persm prescribed by applicable law. After the time r, :rte by a-trp"tk law. Tnatee shall 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 firnc an'1 P14" And un icr 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 purchak the property at any sak. Upon receipt of payment of the price bid, Trustee stall deliver to the purchaser Trustees deed conveying the Property. The recitals in the Trustee's deed shall be prima We evidence of the truth of the statements made therein. Trustee shall apply the proceeds of the We in the following order. W. to all expenses of the sale, including, but not limited to, Trustees fees as permitted by applicable law and reasonable attorneys' foes; (b) to all sums secured by this Security Instrument; and (c) any excess to the person or persons legally entitled to it. 14. Upon acceleration under paragraph 13 or abtiytdcxnment of the Property. Lender (in person, by agent or by judicially, appointed receiver) shah be entitled to enter upon„ take pow of and manage the Property and to collect the-mats of the Property including those past due. Any rents eolkaid by Lender or the ' receiver shall be applied first to payment of the costs of management of the Property and cdlection of rents, including, but not limited to. receiver's tees, premiums on receivers bonds and reasonable attomey's fees, and then to the sums secured by this instrument Page 3 of 5 .y. HUD•9"43DT -1 L. 1� Les ' M ti�