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t L 89- 104256 event of ions &xrowtr will Give immediate notice by mail to the Lender. who may make proof of loss if not made promptly by Borrower, and each insuma x campany conaerrad is hereby authorized and directed to make payment for such loss dirmdy to the Lender instead of to the Borrower and the ll erJa jointly, and The insuraatce prow*,, or nays pare theree., may be a{apvied by the Lender at ita v st�& citkt to the reduction of the indebtedness hero misled or 11) the restoration or repair of the property damaged. In event of foreclosure of this iasatitrient at other transfer of tide to the monsaged property in extinguishment of the indebtedness secured hereby. all right, title and interest of the Borrower in and to any insurance policies then in fora shall pass to tfze purchaser or grantee. 9. That: is additional and colhteral security for thic payment of the note des abed, and all sum to become due under this instrument. the Borrower hereby ax4m to the Lender all profits, revenues. royaltim rights and kvr fifs accruing to the Borrower under any and all oil and gas leases on said permism with the right to receive and receipt for the same and apply them tar. said indebtedness as well before as after default in the coo ticros of this instrument, and the Lender may demand, sue for and recover any such payments when due and payable, but shall not be required so to do. This assignment istyo�terminate and become null and void upon release of this till.. YKMiM . 10. That the Borrower will keep the buildings upon said ptemtsr., in ga►d repair, and neither commit nor permit way apon said land, nor suffer the said premises to be uwt+d f,R any ut1rafu) purpose 1 I. Titan if the premises. or any Para Gbacreof, he condemned under the power of eminent domain. or acquired for a public use, the damages awarded, the proceeds for the taking of, tur ,be consideration for such acquisition, to the extent & ift -full amount of indebtedness upon this imtrmnent and the note whi&:h it is given to secure rtm uunins unpaid, are hmhri amend by the Borrower in idn Lender. W shall be paid forMwO dui staid Lender to be applied t;rp -.. .the fatter on socount of the next nuilgrite installments of such indebtedness. 12. The Borrower further agrees Ow riliould lhth� titsltument and the note secured hereby not be dilmN., flor insurance under the National Housing Act within cijO{t umlhs from the date hereof (written statement of any ofGcxr of axe Llepsnrnent: «}J Housing and Uiban Development ca sajiorized Agent of the Stettttary of Housng and Urban Developresat dated suksn;l znt to the Li4 tt: months' XMI-, from the date of this instrument, deci ring to insurt said note anrL this mc►r*W. being deemed c'onc!"w proof of such inclrgifrik;) �: the Lender or holder of the note may, at its option. declare all rums secured herehy immediately due and payable. NoNit4standing the foregoing, this option may not be exercised by the Under or the holder of the note when the ineligibiNy for insurance under the National Housing Ad is due to the l.eododa'y failure to remit the oortgase imono a preinium totkt fYapartment of Housing and Urban Dtsrtk7poleRt. 13. That if the yorrowet fails to mMke any pay mcnts of mc.ay- when the same became due, cir fails io ,conform to and comply with any of the conditions or agreerneats contained in this instrument. or the note wh -ch it secures. then the entire principal sum and accrued interest shall at once become date and payable. at the election of the Lender. Lender shah give notice to Borrower prior to acceleration followins Borrowers breach of any cavYnant or agreement in tbi.; instrument (but not prior to acceleratkn under paragraph 12 unless applicabk law provides otherwise). The notice shall specify: (a) the default; 4b) the action required to cure the default-. (c) a date, not lees 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 spedried in the notice m&y r6wIt in acceleratir.n 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 acceleration and sale. if the default is not cured on or before the date specified in the notice, Lender at its option man require immediate payment in full of all sums secured by this ins 6meot without further demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled tip collect all expenses incurred in pursuing the remedies pmvidled-in this paragraph 13, including, taut not limited to. reasenable attorneys fees and costs of title evidence. If the power of safe is invoked,.Trusict shall record a notice of default in each county in which any. part'of file Property is loorle i and shall mail copies of such no(icir in the manna? prescribed L-y applicable law to Borrower and to the other pens prescribed by applicable law. After the time required by applicable law. Trustee shall give public notice of sale to the pciwaiand in the manner prescribed by applicable law. Tsunami. without demand on Borrower. shall sell the Property at public auktun to the highest bidder at the time and place and under the terms designated in the notice of sale in one err more parcels and in any (order Trwtr�: 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 safe Lmdcr or its designee may purchase the Property at any sale. Upd:ni �,eetupt of payment of the price bid. Trustee shall deliver to the purihaser 'Prust �y:deed conveying the Property. The recitals in the Trustee's deal sMil be prima facie evidence of the truth of the sutenxirms made therein. Trtate+e tilitia, apply the proceeds of the sale in clot fOlowins order: (a) to add axMtses of the sae, including, but not hi6ited to. Trustee's fees as Oezik.ed by spplicabk law and reasonable attorneys' fern; tb► to all sums seeuritif lay this Security Instrument. and tcl any excess to the person or persons legally entitled to it. 14. Upon acceleration under paragraph 13 or abandonment of the Property. Lender (in person, by agent or by judicially appointed receivrr) shall he entitled fo enter upon. take possession of and manage the Property and to collect the rent% of the Property iwtibtfing those past due. Any renti. collected by tender or the receiver shall be applied first to rmynient of the c4MM of matutotnent of the Property and wllectron of rents, indading; but not limited to, reveiver's fees. premiums on receivers hcinds and reasonable attmney's fees, and then to the sums secured by this instrument - Vane 3 of 5 - L L "UD -92M OT•t J .'A 4'. 6 �, Ash- 6 �,