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<br />event of loss Borrower will give immediate notice by mail to the
<br />Lender, who may make proof of loss if not made promptly by
<br />Borrower. and each insurance company concerned is hereby
<br />authorized acid directed to make payment for such foss directly to
<br />the Lender instead of to the Borrower and the Lender jointly, and
<br />the iasuraetx proceeds, or any part thereof, may be applied by the
<br />Lender at its option either to the reduction of the indebtedness
<br />hereby sewed or to tltc restoration or repair of the property
<br />ctiaygxd Ire event of foreclosure of this instrument or other transfer
<br />of title to the nlon god property in extinguishment of the
<br />iadebtedaesa secured hereby, all right. title W. interest of the
<br />liarovW is grad to any insurance policies Ott frrce shall {sass to
<br />title purchaser or grantee.
<br />S1. That as additional and collateral sect"t lei rtert! of the
<br />note described. and all sums to bec0me dim;D7tla this'!1tistrument. .
<br />the Borrower hereby assigns to the D endear sit profits, revenues.
<br />asdralties, rights gad benefits accruing to the Borrower under any and'
<br />,.;tod and gas leases on said premises, with the right to receive and
<br />. oceipt for the same and apply them to said indebtedness as well
<br />Wore as sfter default in the conditions of this instrument, and the
<br />Lender may demand, sue for and recover any such payments when
<br />dire and payable, but shall not be required so to do. This assignnsent
<br />3$-.W terminate and become null and void upon release of this
<br />..irtistrtrmerut.
<br />10. Thrct :3W. Borrower will keep the buildings upon said premises
<br />in good re*'r and neither commit nor permit waste upon said land.
<br />,Mr suffer the said premises to be used for any unlawful purpose.
<br />f: t?tat premises, or any part thereof, be cond tuned under
<br />,(he power'.6oziaent domain, or acquired for a public use, the
<br />damages awtuded. the proceeds for the taking of, or the
<br />consideration 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 the
<br />Lender, and shall be paid forthwith to said Lender to be applied by
<br />the latter on account of the next maturing installments of such
<br />indebtedness.
<br />C2. The Borrower furthtV Agrees that should this hw -,rent and
<br />tike note W,4p-.td hereby not be eligible for insurance Wrt+rr the
<br />National %ctua;ag Act within eight months from the date hereof
<br />(written stWrmnt of any officer of the Department of Housing and
<br />Urban Development or authorized agent of the Secretary of Housing
<br />aipd When Develofxtteat dlxtcd subsequent to the eight months' time
<br />Barn the date of this iase+rr at. declining to insure said note and
<br />ais ntorgW,, being deemed conciusne yrwf of such irstig:bi!iLY).
<br />Oe Lender tiv holder of the note may. at its'option, declare all sunts
<br />secured fiefty immediately due and payable. Notwithstanding the
<br />liv te;oing. this option may not he exercised by the Lender or the
<br />ko &r of the note when the ineligibility for insurance under the
<br />National l'hetrsing Act is due to the Lendei s failure to remit the
<br />morop, — drtnoe premium to the Departnsent of Housing and
<br />Urban Devi vinent.
<br />13. That if the BorrvRm, tails to make axv payateM of money
<br />wilm the same become',41W. or fails to vanfortrt to :'qrl e,*mply with
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<br />any of the conditions or agreements contained in this instrument. or
<br />the note which it secure& then the entire principal sum and accreted
<br />interest shall at once become due and payable, at the election of the
<br />Lender.
<br />Lender shall give notice ;o Borrower prior to acceleration
<br />following Borrovrees breach of any covenant or agreement in this
<br />instrument (but not prior to acceleration under paragraph 12 unless
<br />applicable law provides otherwise). The notice shall specify: (a) the::
<br />default.; (b) the action required to care fire default; (c) a date, OGLADM
<br />than 30 days from the date the notice is given to Borrower, by .:,
<br />the default must be cured; and (d) that failure to Win (lie default 62'
<br />as bekm tine date speciWin the aotltie.;tr,ay resuih t letatf+irz `
<br />oftbe.swfr vcured by this inWvn.ti"X sak ofih.- Pro0eft:+:;'1Tie
<br />-r, "kr inform Borrgww nt'Ae tight to reinstate cider.,
<br />spa o=rs and the fight to bring a c -i action to assert the non-
<br />Yci a default or asiy other defC of Borrower to
<br />accefem,*;and sale. if the default is.ohl.cured on or before the dale
<br />speGfeb 4.1, to notice, Lender at its q# son may require immedit .
<br />payment rim full of all sums secured by this instrument without::i -`
<br />further demand and may invoke the power of sale rrizd any 011
<br />remedies permitted by applicable law. Lender shalt be(M<, W, 44
<br />collect all expenses incurred in pursuing the remedie§, peen 4 in
<br />this paragraph 13, including, but not limited to, ressonable
<br />attorneys' fees and costs of title evidcr'cc-
<br />If the power of sale isAnvoked, Tfwxep shall record a noticc�d-
<br />default in each coun',Y in which any part of the Property is-located
<br />and shall marl copies of such notice in site manner prescribed by
<br />applieahlf. law to Borrower and to thepliuer persons prescribc#fiy
<br />applicable law. After the time requiifdsby applicable law, TfWrx_
<br />shall give public notice of sale to the persons and in the manner
<br />prescribed by applicable law. Trmtee, without demimd on Borrower,
<br />shall sell the Property at public auction to the highest bidder at the
<br />time and place and under the terms designated in the notice of sale
<br />in one or more parcels and in any cider Tnrttee determines.'lfrustee
<br />may postpone sale of all or any parcel of the Property by ptthfir-'
<br />announcement at the time and place of any previously sett Mies
<br />sale. Lender or its designee may purchase the Property at any sale.
<br />Upow ruruipt of payment of tba price bid. Trustee shall deliver to
<br />tlr. purchaser Trustee's deed convt1ling the Property. The recitals in
<br />the Trustee's dad shall be prima facie evidence of the truth of the
<br />statements made therein. Trustee shall apply the proceeds of the sale
<br />in the following order: (a) to all expanses of the sale, including, but
<br />not limited to. Trustees fur as permitted by applicable law and
<br />reasonable attorneys' fees, (b) to .a.11'suim secured by this Security
<br />Ias:rurrcnt; and (e) any excess 11 tine (rerson or nerstfns legally
<br />entitled to it.
<br />14. lJpafr accetration under pf. uV r. ph 13 or abandonment of the
<br />Property, ):ender (in person, by alga of by judicially appointed
<br />receiver) shall be entitled to enter a", take possession of and
<br />manage the Property Uld to collect the rents of the Property
<br />including those past due. Any rests collected by Lender or the
<br />receiver shall be applied first to payment of the axis of management
<br />of the Phtlxrty and collection of fcals�, eluding, but not limited to.
<br />receivtieu Bees, premiums on receivtr'..T bonds and reasonable,
<br />attarney's fees, and then to the sums'seeured by this instrument.
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