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L event of lots Borrower will give immediate notice by mail to the Leader, who may matte proof of loss if not made promptly by Borrower. and each insurance company concerned is hereby authorized and directed to make . payment for such toss directly to the Lender instead of to the Borrower and the lender jointly, and IM itsscirattee 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 property damaged. In event of foreclosure of this instrument or other transfer of tide to the mortgaged property in extinguishment of the iwkbwdneaa secured hereby. all right. title and interest of the Borrower to 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 ante described, and all shim to become due under this instrument. the Borrower hereby assign to the Lender all profits, revenues. royalties, rights and benefits accruing to the Borrower under any and all oil and gas leases on said premises. with the d1k to receive and receipt for the same and apply them to said indebtedness as well before as after default in the conditions of this instrutrtent. 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 is to terminate and become null and void upon r kxcr-- of this Instrument. 10. That the Borrower will keep the buildings upon said premises in good repair, and neither commit not permit wasin upon said land, not suffer the said premises to be used for any unlawful purpose. 11. That if the premises. or any part thereof, be condemned under the power of eminent deMin. or acquired for a public use. the damages awarded. the proceeds for the taking of, or firs consideration for such w;yisition, to the extent of flu dull amount of indebtedness upon tM. ingrument and the note whirub-it is given to secure remaining unpaid,' are hereby assigned by the Borrower to the Lender, and shall be paid forthwith ten laid fender to be applied by the latter on account of the next ma»uittg ittstalUMertts of such indebtedness. 12. The Borrower further agrees that should Un:; iizsirument and the note secured hereby riot be eligible for insurance under the National Housing Act within eight months from the date hereof (written statement of an.y officer of the Uepartmtot 4f Housing and Urban Development ota«tthorized anent of the aviary of Housing and Urban Development dated subsequent to the cght months' time from the date of this instrument, declining to insure said note and this mortgage, being deemed conclusive proof of such ineligibility). the Lender or holder of the note may, at its option, declare all sums secured hereby immediately due and payable. NorWihstanding the foregoing, this option may not be exercised by the Lnr ider or the holder of the note when the ineligibility for insuntce under the Nationall MhWng Act is due to the Lender's failure to remit tiv: mortgage insurance premium to the Department of Housing and Urban Devebpnsent. 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 1 any of the conditions or agreements contained in this inurunkint. 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 prkm to acceleration under paragraph 12 unless applicable law provide: other w&; The cake shall s ncify: (a) the default; (b) the action required to cure the defnuN. (1 :) a date, not less than 30 days from the date the notice is given it) Barrower. by which the default must be cured; dad (d) that hilure w 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 alter acceleration and the night to bring a court action to assert the non- existence of a default or any other defense of Borrower to- . uxekrstion and sale. If the deGtult is not cured on or before the date specified in the notice. tender 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 sad any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred is panning the remedies provided in this paragraph 13, including. lid Trot limited to, reasonable attorneys fees and casts of title evidence. If the power of safe is invekedv Trustee shall record a notice e. default in each county in which 1<my pan of the Property is lamed and %hall mail topics of such mctirxin the manner prscribed b;L appluxfsle law to Borrower and IM the other persons prescribe by applicable law. After the time read'Wred by applicable lave. Trustee shall give public notice of sale to iAi persons and in the manner prescribed by applicable law. Trig. without demand on Borrower, shall X41- the Property at public iutstson to the highest bidder at the time 'md plane and under the tctrsan, designated in the notice of sale i in one or more parcels and in ay •order Trustee determines. Trustee may postpone soft., 401 or any parcel of the Property by public announcement at tfiic. mine and place of any previously scheduled sste. Lender er its lit Igia m*y puriuse the Property at any ale. Upon receipt of frcymeni of tk price bid. Trustee shall deliver to the purchaser Trustee's deed conveying the Pmlpeny. The recitals in the Trustee's deed shall be prima facie evidence of the truth of the statements made therein. Trustee silo!! apply the proceeds of the sale in thteft flowing order: (a) to &U. ewpema of the sale. including, but act limited to. Trustee's fees as pitted by applicable law and reasonable attorneys feess; IN to all sums secured by this 5ccurity Instrument; and (c) any excess to the person or persons legally entitled to it. 14. Upon acceleration wxitz Puagraph 13 or abandonment of the Property. Lender fib pra-At; trg;, at or by judicially appointed receiver) shall be eii(.rskd'co ow upon, take possession of and manage the Property and to Wlea the rents of the Property including, those past due. Any rents. collected by Lender or the receives- shall be applied first to payment of the costs of management of the Property and collection of rents. including, but not limited to. receiver's fees. premiums on receiver's bonds and reasonable attorney 4 fees. and then to the sums secured by this instrument. - -- -- -parts 3 of 5 — L ' ittlQ�lg'td)bT•t J I ;c ,r tat: -J-