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1 RE-RECORDED B9--w 105447 9o..a. i0482A event of less Borrower will give immmiak notice by mail to the - - - r -wha may snake nrmf_of lass if_not made neQmndy b_y - - Borrower, and each insurance company conceraed is hereby authorized and directed to make payment for such lugs directly to the gender wood of to the Borrower cad the Leader jointly, and the ittwrattoe proceeds. or any part thereof, may be applied by the loader at its option either to the reduction of the indebtedness iereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this instrument or other transfer of titk to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title and interest of the Borrower in and to any insurance policies then in force shall pass to the purchaser or grantee. S. That as additional and collateral security for the payment of the note described. and all sums to become due under this instrument, the Borrower hereby assigns to the Lender all profits, revenues. royalties, rights anti benefits accruing to the Borrower under any and all of and gas le06 on said premises, with the right to receive and receipt for tha'same and apply them to said indebtedness as well before as after default in the conditions of this instrument, and the LtAder 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 smile premises in good repair, and neither commit nor permit waste upon said land, nor 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 domain. or acquired for a public use. the damages awarded, the proceeds for the taking of, or 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 Lender, and shall be paid forthwith to said Lender to be applied by the latter on amount of the next maturing installments of such indebtedness. 12. The Bcrtower further agrees that should this instrument and the note seW*D hereby not be eligible for insurance under the National Wising Act withiii c4gbt months from the date hereof (4-titten statement of any offi�xr of the Department of Housing and Urban Development or authorized agent of the Secretary of Housing and Urban Development dated subscqut iii tc the eight months' time from the date of this instrument, declining is insure said note and this mortgage, being deemed conclusive proof of such rib obility). the Lender or holder of the note may, at its option, declare all sums secured hereby immediately due and payable. Notwithstanding the foregoing, this option may not be exercised by the Lender or the holder of the tote when the ineligibility for insurance under the National Housing Act is due to the Lender's failure to remit the mortgage insurance premium, to the Department of Hoating and Urban Development. 13. That if the Borrower fails to make• any- payments of money when the same become due, or fails to ayslistcn to and comply with i, any of the conditions or agreements contained in this instrument, or the note which it secures, then the entire principal sum and accrued - mterii t s itV&—t o-tee- Wome-due a- Wpayabk as Weleaiun 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 prior to toMmtkm under paragraph 12 unless applicable law provides otherwise). 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 given to Borrower, by which the default must be cured; and (d) that failure to tune the default on or before the date specified in the notice may result in accekmtion of the sums secured by this instrument and sale of the Property. The notice shall further inform Borrower of the right to reinstate after accele ration an& the-ri6t to bring a court action to assert the twat. -,..: existence of a. daub or any other defense of Borrower to aoaleration and sale. if the default is not cured on or befipt the -date aspetafned in the notice, Lender at its option nay regul* kninediste payment in full of all sums secured by this instrument without further demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 13. including, but not limited to. reasonable attoneys' fees and costs of tide evidence. if the power of sale is invoked. Thafm shall record a notice of default in each county in which any part: of the Property is located and shall mail copies of such notice in the mutter prescribed by applicable law to Borrower and to the other persons prescribed by gpplicable law. After the time required by applicable law. Trustee stall gie,:.pibbc notice of sate to the persons and in the manner prescri ai hy, applicable law. Trustee. without demand on Borrower, stall sell the Property at public auction to the highest bidder at the time and place and under the terms designated in the notice of sate in one or more parcels and in any order Trustee 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 sate. Lender or its designee may purchase the Property at any sale. Upon receipt of payment of the price bid. Trustee stall deliver to the purchaser Trustee's deed conveying the Property. The recitals in the Trustee's. (teed shall be prima facie evidence of the truth of the statement ,naie therein. Trustee shall apply the proceeds of the sale in the following order: (a) to all expenses of the sale, including, but not limited to. Trustee's fees as permitted by applicable law and reasonable attorneys' fees; (b) to all sums secured by this Security Insuument; and (c) any excess to the person or persons kgally entitled to it. 14. Upon acceleration under paragraph 13 or abandonment of the Property, Lender (in person. by agent or by judicially appointed receiver) shall be entitled to enter upon, take possession of and manage the property and to collect the rents of the Property including'ifum past due. Any rents collected by tender or the receiver shall be applied first to payment of the costs of management of the Property and collection of rants, including. but not limited to. receiver's fees, premiums on receiver's bands and reasonable attorney's fees, and then to the sums mxured by this instrument. Page 3 of 5 i o 1itT t r� r �• r •r s; � s• - r� r �• r