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.-J Lender. In event of loss Borrower wiD give immediate notice by mail to Ibe Lender, who may make proof of loss if 001 made promptly by Borrower I and each insurance company concerned is hereby autborized and directed to make payment for such loss directly to Ibe Lender inslead of to Ibe Borrower and tbe Lender jointly. and tbe iosurance proceeds, or any pari tbercof. may be appUed by the Lender at its option either 10 tbe reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this instrumt'nt or other uansfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby I aU right, title and interest of the Borrower in and to any insurance policies then in force shall pass to the purchaser or grantee. 9. That as additional and collateral !iecurily for the payment of Ihe oote described. and aU sums 10 become due under this instrument, Ihe Borrower bereby assigns 10 the Lender all profits, revenues. royalties, rights and benefits accruing to the Borrower under any and aU oil and gas leases aD said premises, with the right to receive and receipt for the same and apply tbem to .aid indebtednc.. as weU before as after default in the conditions or 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 nuU and void upon release of this instrumenl. 10. Thatlbe Borrower will k..p Ihe buildings upon said premises in good repair. and neither commit nor permit waste upon .ald land, nor .uffer the .aid premises 10 be used for any unlawful purpose. II. ThaI if the premises, or any pan Ihereof, be condemned under the power of eminenl domain, or acquired for a public use, Ihe damases awarded, Ibe proceeds ror Ibe taking of. or Ihe con.ideration for .uch acquisition, 10 Ibe extent of Ihe full amount of Indebledness upon Ihi. inSlrumenl and the note whieh it i. slven 10 secure remaining unpald, are hereby assigned by Ihe Borrower 10 the Lender. and .hall be paid forthwilh to said Lender 10 be applied by Ihe laller on aceount of Ihe next malurins installments of .uch indebtedness. 12. The Borrower further agrees Ihat should lhis instrument and Ihe nole secured bcrcby not be elislble for insurance under the Natio:al Hou.ing Act wilhin eighl months from the dale hereof (wnllen stalement of any officer of tbe Dcpanmenl of Housing and Urban Ocvelopment or authorized agcnl of the Secrcrary of Hou.ing and Urban Ocvelopmenl dated .ubsequent 10 the eiShl months' lime from the dale of this instrument, declillinslO insure said note and this mortgage, being deemed conclusive proof of such ineUgibility), Ihe Lender or holder of the nole may, at its option, declare all sums secured hereby immediately due and payable. Notwilh.tanding tbe foregoing, lhi. option may not be exercised by Ihe Lender or Ihe boltier of Ihe note when the InclislbililY for insurance under the National Hou.ing Act is due 10 Ibe Lender'. failure \0 remit the manaaae insurance premium to the Department of Housing and Urban Ocvelopmenl. 13. That if Ihe Borrower rails to make any payments of money when the same become due, or fails to conform to and comply wilh any of the conditions or agreements contained in this instrument, or the note which it secures, then the entire principal sum and accrued intC're5t shall at once become due and payable. at the election of the Lender. -=:l 88- 1041147 Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this instrument (but nol prior to acceleration under paragraph 12 unIess appUcable law provides Olbcrwise). The notice sball .pecify: (a) Ibe defaull; (h) the action required to cure the deraull: (c) a date. not less Ihan 30 days from the dale the notice is given to Borrower. by which the default must be cured; and (d) thaI 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 and sale of the Property. The notice shall further inrann Borrower of the right to reinstate after acceleration and the right to bring a court action to assert Ihe non-existence of a default Of any other defense of Borrower to aceelcration and sale. If the derault is not cured on or before the dale specified in the notice, Lender at its option may require immediale paymenl in iuU of all sums secured by this instrument without funher demand and may invoke the power of sale and any other remedies pcrmiued by applicable law. Lender shaU be entitled to coUect all cxpcnscs incurred in pursuing Ibe remedies provided in this paragrapb 13, including. but not limited to, reasonable attorneys' fees and costs of title evidence. If Ihe power of sale is invoked, Trust.. sbaU record a notice of default in each counlY in wbicb any part of Ibe Propeny is located and shall mail copies of such notice in the manner prescribed by appUcable law 10 Borrower and 10 Ibe other per.ons prescribed by appUcable law. Mler the Ii",e required by applicable law. Trust.. shall slve public notice or sale 10 Ihe per.ons and in Ihe manner prescribed by applicable Iaw_ TruSI.., WilhoUI demand on Borrower. shall ..Ulbe Property at pubUc auction 10 the highesl hidder al the lime and pla.. and under the terms designated in the notice of sale in one or more parcel5 and in any order Trustee determine._ Trust.. may postpone sale of all or any parcel of Ibe Propeny by pubUc announcement at tbe lime and place of any previously scbeduled sale. Lender or its designee may purchase the Propen)' at any sale. Upon receipt of payment of the price bid, Trus... .haD deUver 10 the purchaser Tru.t.... deed conveying tbe Propeny- The recitals In the Tru.tCl:'. deed shall be prima facie evidence or the truth of tbe stalements made Iherein. Trust.. .hall apply the proceeds of Ihe .ale in Ibc following order: (a) 10 all expenses of the sale, including. but not limited to. Trustee's fees as pcrmined by applicable law and reasonable anomeys' fees; (b) 10 aU sums secured by lhis SccuriIY Instrument; and (e) any excess 10 Ihe person or persons IcpJly entitled 10 il. 14. Upon acccler31ion under parasraPb 13 or abondonmenl of the Property, Lender (in person, by agenl or by judicially appointed receiver) .hall be entitled 10 enler upon, take possession of and manaae Ibe Propeny and 10 col\ccllbe rents of Ibe Propeny includinSlbo" pasl due. Any rents col\ccled by Lender or Ihe receiver .hall be applied filiI 10 payment of the coSts of mlll1Blemenl of the Propeny and coUection of reots. inc1udiDl. but not limited to, receiver's fees. premiums OD receiver's bonds and reasonable auorneys' fees, and then [0 the sums secured by this instrument. Page 3 of 5 HUD.921 43DT-1