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<br />mad,: shall be added to the principal Sum irking on the above
<br />note, shalt be secured hereby, and shall bear interest at the rare+: slit
<br />forth in the saii note, until paid.
<br />T. -Thi -t ik Harrower Weby assigns, man4cri and Sms over to
<br />the Lender, to be applied toward the payment of the note and all
<br />sums secured hereby in cause of a defauk in the performance of
<br />any of the terms and conditions of this instearricat cr the said
<br />note, all the rents, resents and income to be derived Cr.;m the
<br />SAW premises duruti sttch time as the indebtedness shall ratttait'm.
<br />unpaid. and the Lender shall have pewer to appoint. anti agenr or
<br />writs it may desire for the putpoFK of repairing said premises V.d
<br />of renting the same and collecting the rent::, rr enues and incomi.
<br />and it may pay out of said incemas all e>iWce,; of rzpair.'.ng s,Iid
<br />premises and necessary commissions and exlxnrti^s incurred in r,41,-
<br />ing and managing the same and of cellecting rentals v5cr.frvm:.: .
<br />Ii. -ihe' Borrower further agrees that should this instrument and
<br />the time secured bereby not be eliigtble for insurance under the Na-
<br />Venial- Housing Aqi, within eigM months from the due; hereof
<br />— €widifgeu stalemett :nf:a�. of£Lnr : of. the Heparx -taw It o_fMousi,4
<br />and Urban DevekKiment or autfwriM agent of the Secretary of
<br />Hou!,ing ,arid Urban [kelopaxnt dated subsequent to the eight
<br />m,mN1tr'>tine from the date of this instrument4 decline to insure
<br />said: nuic and this mortgage. being deemed'concWhe. proof of
<br />S40 ineligibility), the Lender or holder of the note nary, at its op-
<br />Coit. declare all sums secured hereby immediately due and payable.
<br />Notwithstanding the foregoitig, thin option may not be exercised
<br />by the Lender or the holler of the note when the ineligibility for
<br />insurance under the National Housing Act is due to tine Leader's
<br />failure to remit the mongage insurance premium to the Depart-
<br />ment of Housing and Urban Detieopment.
<br />the balance remaining. if any. to be applied toward the diwharlo: 13. That if the Borrower fails to make any payments of money
<br />of said indebtedness. when the same become due, or faiL3 to conform to and comply
<br />with any of the conditions or agreements contained in 0& instru-
<br />B. That the Bwower will keep tlits - improvements new eti.aittg stem. or the note which it secures, then the entire principal sum
<br />or hereafter era:ted bn the property, insured as: ma=r be a :quis -.J and accrued interest shall at once become due and payptble. at the
<br />from time to time by the Lender against loss b9 ffty and ether elution of the Lender.
<br />harards, casualties and' contingencies in such arneunrs and for sacft
<br />periods as.may be required by the tender and :su91 yay promptly,...
<br />when due. any premiums on such ins-arince praiiWon for payment
<br />of which has not been made hereinbefors.: All: itlr.Jn=ce shall be
<br />carried in companies appioted by the Lender-and tusk policies and
<br />renewals thereof shall be held b+• the Lender, and haul dttached
<br />therein loss payable clauses in. (aver el° and in f4mir :acceptable to
<br />the Leader. In event of loss Borwwer will give immidiute rxaice
<br />by retail to the Lender. who may mattu proof of toss if not made
<br />promptly by Borrower. and each iitf uranec C'einpany concerned is
<br />hereby authorized and directed to ittali. payme=nt for such loss
<br />directly to the Lender inztaad-all tor- the ;8ormwer and the Lender
<br />jointly. and the insurance proccede. "et. any pai: thereof, may be
<br />applied by the Lender at its option either to the reduction of the
<br />indebtedness hereby secured or to the restoration or repair of the
<br />property damaged. In event of foreclosure of this instrument or
<br />other transfer of title to the mortgaged property in extinguishment
<br />of the indebtedness secured hereby. all right. title and interest of
<br />the Borrower in and to any insurxri:e policies then in fora shall
<br />pus to the purchaser or grantee.
<br />9. That as additional and collateral sa-uni3r. Qr the payment of
<br />the note described, and all sums to become d ca:• under this instru-
<br />ment, the Borrower hereby asswnv t 1ti Linder all profits,
<br />revenues. royalties, rights and Imatfioi dcciuing to the Borrower
<br />under any and all oil and gas leases on said premises. with the
<br />right to receive and receipt for the same and apply them to said
<br />indebtedness as aeb:'tiefore as after default in the conditions of
<br />this instrument. and the Lender may demand. fete for and recover
<br />art
<br />1 utch payments when due and payable. bui r"all ri :e :t r4-
<br />c`;tuiiitf to to do. This assignment is to terminit^ A' n6 !,(= me. null
<br />d�sd v6d upon release of this instrument.
<br />10. That the Borrower will keep the buitdn,.-65 upon said premises
<br />in Rood repair. and neither commit tier perm=it Aaste upon said
<br />land, nor suffer the said premiscy to be used for any unlawful
<br />purpose.
<br />1. That if the premises, or any pan thereof, be condemned
<br />under the power of eminent domain, or acquired for a public use.
<br />the damages awarded, the proceeds for the taking of, or the con•
<br />stderation 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 />*awe remaining unpaid. are hettby assigned by the Borrower to
<br />the Lender. and shall be paid forthwith to said Leader to be ap-
<br />plied by the latter on account of the next niatumis installments of
<br />such indebeedries>.
<br />Lmdcr _haMtri.e notice to Borrower prior to acceleration
<br />felrinwirg. Borrower's breach of any covenant or agreement in this
<br />imstr ument (but not prior to acceleration under paragraph 12
<br />unless applicable raw provides otherwise). The notice shall specify:
<br />(a) the default; (b) the action required to cure the default•. (c) a
<br />date. not less than 30 days from the date the notice is given to
<br />Borrower, by which the default must be ca=red: and (d) that failure
<br />to cure the default on or before the date specified in the notice
<br />may result in acceleration of the sums secured by this instrument
<br />and sale of the Propen). Tits catice shall further inform Borrower
<br />of the right to rein.srare after acceleration and the right to bring a
<br />court action to assert the non-existence of a default or any other
<br />defense of BorrowtT to acceleration and sale. If the default is not
<br />cured on or before the dart specified in the notice. Lender at its
<br />option may require immedia,�: riyment in full of all sums secured
<br />by this instrument without farther demand and may invoke the
<br />power of sale and any other remedies permitted by applicable law.
<br />Lender shall be e,-Vitled to collect all expenses incurred in pursuing
<br />the remedies provixted in this paragraph 1-% including, but not
<br />limited to. rc&4. able attorneys' fees and costs of title evidence,
<br />If the power of sale is invoSiM, Trustee shall record a; Tictice of
<br />default in each ct anty in w!';t.+h any part of the Property: e; located
<br />and shall mad wrK� * of such notice in the manner prescribed by
<br />applicable law ' a R,=ower a.'tcl to the other persons precribed by
<br />applicable taw: A1`ter the t=ale -equired by applicable aa,, Trustee
<br />stigi-,give public notice of safe lies the persons and ;M fEai rtt:aaner
<br />pr rt: :ribed by applicable taw..,t'rUstee. %464 ;a t. demand ,6% nor -
<br />rower. shall sell the Propen) "ir public �tpwr_ to the highest bid-
<br />der at the time and place and under the ;•inns designated in the
<br />notice of sale in one or more parcels and in any order Trustee
<br />determines. Trustee may povViimc sale of all or any parcel of the
<br />Property by public announcement at the time and place of any
<br />pre.iously scheduled sale. Leader or its designee may purchas,- the
<br />Property at any sale.
<br />Upon receipt 'itf paymerr ice the price bid, Trustee shall deliver
<br />to the purchaser Trustee's disci c=onveying the Properly. The
<br />recitals in the Trustee's deed shad be prima facie evidence of the
<br />truth art the statetmenta made therein. Trustee shall apply the pro-
<br />ceeds of the sale in the following order: (a) to all expenses of the
<br />wle. including, but not limited to, Trustee's fees as permitted by
<br />applicable law and reasonable attorneys' fees; (b) to all sums
<br />secured by this Security instrument; and (c) any excess to the per-
<br />son or percorts legally entitled to it.
<br />Pago 3 of 5 MWO2143DT
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