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. Aa� 105500 f- made shalt be added to the principal sum owing on the above 12. The Borrower. further agrees that should.this instrument and _. note. shall be secured hereby. and shall bear interest at the rate set the note secured hertbi trot be dloble for insuran under the No- -FMW -in OW- t7titT twe; -Mirpaid= - -- — — — 1OW Housing Act .►fcimt ci�ii�m6s<tit fi6cir izicwd2- aerial - (written statement of any officer of the Department of Housing 7. That the Borrower Hereby assigns. transfers and sets over to and Urban De[vlopment or authorized agent of the Secretary of __. the Leader; lo} be applied. toward the pt)yrtlet�t of the mote end all Hoaxing rand Urban Diewloptnent dated subsequent to. the eight - .__._...._ . _... sums secured hereby in case of a defauh in the pertormanct of tnonths" tutu from the date of this imtrument. declining to insure ' any of the terms and condi(wris of this kittrumietu oY the said said note and this mortgage. being deemed conclusive proof of note. all the rents. revenues and mncorne to be derived from the such ineligibility), the Lender or holder of the note may. at its op- xaid premises during such time as the indebtedness soil rtmain tion, declare all sums secured hereby immediately due arnl payable. • unpaid, and the Lender shall have power to appoint any agent or 'vot,sithsianding the foregoing. this option may not be exercised atgenker it may devire fix the purpose of repairing said prtmiies and by the Lender or the holder of the note when the ineligibility for of renting the same and collecting the rents. rtvettuts and it offie. insurance under the National Housing Act is due to the Lender's and it may pay out of raid incomes all expenses of repairing said failure to remit the mortgage insurance premium to the Depart- girernists and necessary commissions and expenses incurred in rent- ment of Housing and Urban Deveopment. ing and managing that Sartre and of collecting rentals thertfrotn; the balance remaining, if any, to be appr"ied toward the discharge 13. That if the Borrower fails to snake any payments of money of said indebtedness. when the same become due. or fails to conform to and comply with any of the conditions or agreements contained in this fmtrtr- 8. That the Borrower will keep the improvements now existing ment. or the note which it secures. then the entire pritrcipal sum or hereafter erected on the property, insured as may be required and accrued interest shall at once become due and payable, at the from time to time by the Lender against loss by fire and other election of the Lender. bazards, casualties and contingencies in such amounts and for such periods as may be required by the Lender and will pay promptly. Lender shall give notice to Borrower prior to acceleration ^hen due. any premiums on such insurance proviswo for payment following Borroaer's•breach of any covenant or agreement in this 6f which has not been made hereinbefore. All insrrance shall be instrument (but not prior to aoximiion under paragraph 12 carried in companies approved by the Leader and the policies and unless applicable law provides vLNerwise). The notice shall specify: ' renewals shalt be held by the Lrr;der and have attached (a) the default; (b) the action required to cure the default (t') a thereto loss payable clauses in favor of and in form. acceptable to date. not Tess than 30 days front tine date the notice is given to the Lender. Ir{event of loss Borrower will give un mediate notice Borrower, by which the defauut ins;.st be cured; and (d) that failure by snail to the Lender, who may make proof of loss if not made to cure the default on or before *t date specified in the notice promptly by Borrower, and each insurance comp=s concerned is may result in acceleration of the sums secured by this iastrurtsettt hereby authorized and directed to make payment such loss and safe of the Property. The notice shall further inform Borrower directly to the Lender instead of to the Borrower and the Lenld-- of the right to reinstate after acceleration and the right to bring a jointly, and the insurance proceeds. or any part th roof, may be court action to assert the Lion- aisttace of a default or any other applied by the Lender at its option either to the natits-tion of the defr•.rsc of Borrower to acederariom and sale. if the defau! is not indebtedness Imeby secured or to the restoration ce repair of the cures on. or before the date spoeraiikl in the notice. Lender aria its ` ' property damaged. In event of fore& &sure of this instrument or su=. cured option may require inTnediatte payrrwt in full of all w other transfer of title to the monsaget..rroperty in extinguishment by this instrutnem •swir�n„ ut further demand and may invott the of the indebtedness secured hereby. wJ. tight, title' -end interest of power of tale and *y other remedies permitted by applicable law. the Borrower in and to any insurance policies tiaras: is force shall Lenda ,_i-Wl be entitled to Cc 1&,Tt•all expenses incurred in pursuing pass to the purchaser or grantee. the camtt ies provided in this. jwagzaph 13. including, but not 4; limited :o, reasonable autor7te+q�` i n and costs of title evidence. _ 9. That as additional and collateral Security for the payment of the note described, and all sums to become due under .this instru. If the power of sale is invoked, Trustee shall record a notice of ment. the Borrower hereby assigns to the Lender all profits, defauir :at each county in which,,ny part of the Property is located : revenues. royalties, rizOA and benefits accruing rs tie Borrower and .51=11- mail copies of such r xlat#t,Y in the mariner prescribed by :: • : . under any and all oil and ,gas leases on said ;turrds:^s, with the applical;tb law to Borrower anti tt;p the other persons precribed by right to receive arid receipt for the same arid at:r,�,• them to said applicable law. After the tine m4uired by applicable law, Trustee indebtedness as well before as after default lrs r „fir conditions of shall give public notice of sale to the persons and in the manner �.- this instrument, and the Lender may 3em md.- nzce for and recover prescribed by applicable law. Trustee. without demand on Bor- any such payments when due and payah1c. Luc: ,hall not be re- rower. shall sell the Property'at public auction to the highest bid- and so to do. This assignment is to tcrmirrit;. and become null der rut the time and place and. untintr the terms designated in the and void upon release of this instrument. notice of sale in one or more parcels and in any order Trustee ' determines. Trustee may postpone sale of all or any parcel of the 10. That the Borrower will keep the buildings upon said premises Property by public announcement at the time and place of any in good repair, and neither commit nor permit waste upon said previou-ty scheduled sale. Lender or its designee may purchase the land, nor suffer the said premises to be used for any unlawful Prorwily.at any sale. Upon receipt of payment of the price bid. Trustee shall deliver 11. That if the premises. or any part thereof, be condemned to the purchaser Trustee's deed conveying the Property. The untkr the power of eminent domain, or acquired for a public use, recitals in the Trustee's deed shall be prima facie evidence of the the domagtes awarded, the proceeds for the taking of. or the con- truth of the statements made therein. Trustee shall apply the pro - sideration for such acquisition. to the extent of the full amount of coeds of the sale in the following order: (a) to all expenses of the irrdebtednas upon this instrument and the note which it is given to sale, including. but not limited to, Trustee's fees as permitted by swwe remaining unpaid. are hereby assigned by the Borrower to applicable law and reasonable attorneys' fees; (b) to all sums the Lende►. and shall be paid forthwith to said Lender to be ap- secured by this Security Instrument; and (c) any excess to the per - plied by the latter out account of the next maturing installments of sot or persons legally entitled to it. such indebtedness. -- _ - --- -- . i Page 3 of 5 ; R-06 MOT OT 1'