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event of lass Borrower will give immediate notice by maid to the Lender, who may mate proof of loss if not made promptly by Borrower. and each insurance company concerned is hereby authoriatd gad directed to Drake payment for such labs directly to the Leader imand of to the Borrower and the Leader jointly. and the insurance proceeds, or any part thereo& 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 daaaaged. In event of foreclosure of this instrument or other transfer of title to the mortgaged property in extinguishment of the inildmidan secured Hereby. all right. tick and interest of the Borrower in ad to any inwrance policies then in fora shall pass to the purchaser of grantee. 9. That as additional and collateral security for the payment of the now described. and all sums to become due under this instrument, the Borrower hereby assign to the Lender all profits. revenues, royalties, rights and beneCts acowng ko the Borrower under any and all oil and gas leases on said premm s. ;1A* the right to receive and receipt for the same and apply them ter said indebtedness as well bekxe as after default in the conditidins-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 is to terminate and become null and void upon release of this instrument. 10. That the Borrower will keep the buildings upon said premises in good repair. and neither commit eor permit waste upon said land. nor puffer the said premises to be used t-rr any unbwful purpose. 11. That if the premises, or any part - thereof, bt condemned under the power of eminent domain, or acquired for a public use. the damages awarded. the proceeds for the taking of of the consideration for such acquisition, to the extent of the full amount of indebtedness upon this instrument and the note which it is given to secure remaining unpaid, are hereby assigned by the Borrower to the Deader. and shall be paid forthwith to said Lender to be applied by the latter on amount of rite next maturing installments of such indebtedness. 12. The Borrower further agrees that should this instrument and the note wxrr,Yrd hereby not be eligible fire insurance under the National Housing Act within eight mosibs from the date hereof (written statement of any officer of the Department of Housing asrd Urban Development or authorized agent of the Secretary of Housing and Urban Development dated subsequent to the eight months' time from the date of this instrument, declining to insure said note and this mortgage. being deemed conclusive proof of such ineligibility ►a. the Lender or holder of the note may, at its option, declare all sucks uxured hereby due and payable. Notw4ivanding the foregoing. this option rwuy m3 be exercised by the Lcndet or the holder of the note when * mdigdfa'W4 i Far insurance under the National Housing Act is due to the Lc kfs failure to remit the mortgage insurance prewi%in to the Department of Housing an-1, Urban Development. 13. That if the Borravwtr fails to make any payments of mane• when the saute become dirt, or fails nr Uonform to and comply wth, t any of the conditions or agreements contained 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 Borrowers breach of any covenant or agreement in this instrument (but not prior to acceleration under paragraph 12 unless apptiabee law provides otherwise)i. 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 Riven 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 said sale of.the Property. The notice shall further inform Borrower of the righta.aciristate after acceleration and the right to bring a court uxiai 3a Oert the non - ertist,t :of s default or any other defense of Borraysier to am a *w and sale. If the default is not cured on VaF.�l+e *I_&t *!