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88- 104699 event of loss Borrower will give immediate nolice by mail to the Lender. who may make proof of loss if nol made promptly by Borrower. and each insurance company concc:rned is hereby aulhoriled and directed 10 make: payment for such loss directly to the: Lender instead of to the Borrower and the lender joinll)', and the insurance proceeds. or any pan thereof. may be applied by the lender at its option either to the reduction of the indebtedness hereby secured or 10 the restoration or repair of the propeny daml8ed. In evenl of foreclosure of Ibis instrument or olher ~ran5fer of title to the mongaged property in extinguishment of the indebtednCS!l !>CCurcd hereby. all fight.., title and interest of the Borrower in and 10 any insurance pohcies tben in force shall pass In the purchaser or grantee. 9. That as additional and collateral security for the payment of the nole described. and all sums to become due under thi!. instrument. the Borrower hereby assigns to the lender all profits. revenues, royahies, rights and bene:fil'o accrumg to the: Borrower under any and all oil and gas leases on said premiso. with Ihe nght 10 receive and receipt for the same and apply them to said indebtedness as well before as aftcr dcfauh in the conditions of lhis instrument and the Lender may demand.. sue for and recover any such payment&, when due and payable.. but shan nol he required so to do. TIus asslgnmenl is to terminale: and become null and ...OId upon reJ~ of Ihl!. Inslrument. 10. Thai the Borrower will keep the building!! upcln ~"lId prcmN...~ In good repair. and nclther commit nur permn waste upon ~Id land. nor suffer the said prcml!>eS to be IL'>ed for any unlawful purpo~ II. That If the premncs. or any parI thereof. be: condemned under the power of eminent domain. or acquired for a pubhc lI.!.C. the damqes awarded. the procc:cds for the taking of. or the consideration for such acqul5iuon. to the extenl of the tull amount 01 indebtedness upon this instrument and the nOle which itlS given tn !iCCure remainin, unpaid, arc hereby assigned by the: 8<mower to Ihe Lender. ilnd shall be: paid forthwuh to !laid Lender to be: apphed hy the latter on account of the next matunng IDstallmenu of such indebtedness. 12. The Borrower funher agrc:o that should thL'IID!.lrumenlaml the nole secured hereby not be: eligible for lDsurance under the National Housing Act wlthm C1ght months from the date hcn'of (wnllen stalemenl of any officer of the Dcpanment of Housmg and Urban Development or authonzed agent of the Secretary of HOlL'img and Urban Developmcol daled subsequent to the ctght monlru.' IImt' from the dale of thu instrument, declinmg to 1D5Ure !.aId note: and this mortpgc.. being deemed conclusivc proof of such mdlglbihty). lhc L.endB Of holder of the: nOle may. at il5 option. declarc all !.um~ secured hereby Immedialely due and payable. NOIwnhslanding the foregomg, thl5 option mDy not be: exercised by the Lender nr the holder of the nole when the incJigibihl)' for Insurance under the NaLional Housing Act is due to the Lender's failure to remilthe mortpBe insurance premium to the Department of Housmg and Urban Development. 1.3. ThaI if the Borrower fails to make any paymenL!l of mont:") when the same become due. or fail!. to conform to and Lumpl)' .....llh any nf lht cunditions or agreement" contained in Ihis instrumenl. or Ihe note which it secures. then the entire principal sum and accrued inlerest shall al nnce becume due and payable. at the electlo", of the lender Lender shall give notice to Borrower prior tn acceleralion follOWing Borrowcr\ breach of any cnvenant or agrL'Cmenl in this mstrumenllhul not prior 10 accelerallon under paragraph IZ unlt-'i!. applicable law prnvldes otherWise). The nolice ~hall !.recify: (a) the default; (b) the actum required to CUll' the default; leI a date. notle~ than 30 day!> from the: datc the notice i!> gl\len In Horrower. by which the default must be cured: and Id) Ihal failure In cure the default on or before Ihe: date specified in the notice may re!'iul1 in acceleration of the sums !.ecured by Ihis mstrumenl and sale of the Propeny. The notice shnll funher inform Borrower of the: right tn remstate after acceleration and Ihe nghtto bring a cnurl action 10 asscrt the non. eXlstencc of a default or any other defense of Borrower to acceleratIOn and sale. If the default t'i not cured on or before the date Specified 10 the notice. Lender al its option may require immediate payment In full of all sums secured by this instrument without further demand and may In\'ob~ Ihe power of sale and any olher remedies permllted by applicable bw. Lender shall be entitled to collect all Cllpenses incurred in pursuing the remedies provided in thiS paragraph 13, includmg. hut nol limiled 10. r~sonable allumeys' fees and cost'i {If Iltle c\'ldence. If the power of sale i~ in\luked. Tru!>tcc shall record a notice of default In each county in which any pilrt of the Propeny is located and shall mail COpIC!. of such notl(..'C In the manner prest:ribed by applicable law IU Borrower and to the uther person~ prescribed by apphcable law. After the lime reqUired by applicable law, Trustee shall give public nollce of sale to the pe~ons and In the manncr pre.cribed by apphcable law. Trustee. without demand on Borrower. shall ~lIthe Propeny al public aucllon to the highest bidder at the time and plact and under the terms designated In Ihe nOlice of sale In one tlT more parcel!> and In any order Trustee determine!. TrU!;tee may postpone sale of all or any parcel of the Property hy public announcement at lhe time and place of any prevlou!>ly scheduled sale. Lender or IL'I designee may purchase the Prnperty nInny sale Upon realpl of payment of the prier hid. Tru.'itet shall deliver to the purch~r Trustee's deed conveymg the Property. The recital!. in the: Truslee's deed sball be prima raclC: evidence of the truth of Ihe stalements made lherein. Truslee !.hall apply the proceed.. uf the sale ID the following order' (a liD all expen!'c'!' of the sale. Indudin~, bUI nOllimlted to, Truslcc'!> feo ~ permlUcd by applicable law and rea!lunable attornev!.' f~; Ih, III all sums secured hv thl!. SecurilV Jnslrumen~ and Ie') any ekces.~ to the per!>un or pcr.:c)Jl~ Jegally - enlltled tn It 14. Upon ac.cele...uon under paragraph 13 lIT abandonmenl of thl" Propeny. Lender (in person. by agent or b; judicially appomted receiver J shall be entitled to entcr upon, take JXb.'oC!l..'1lOn of and manage the Prupcrt; and to collect thc renu of the Jlroperty mduding thO!.C JUSt due. Any rcnt'i l:ol1ected by Lender ur the recel\ler shall be apphed finl 10 paymenl of the cnsb nf man8[!emenl of the Properly and oollecuon of n:nL'l. mcludmg, hUI nul hmlled tll. recel\ler's f~. premiums on rccclvcr\ bond!. and reasonable auomey'!> fe~, and then tu lht: !.um!. !iel.:urcd by Ihi!. InSlrument -;;-".~oi-& i! . HUD-1I21UDT.1