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88-105325 event of hm Borrower will give immcdialC notice by mail to the Lender. woo may make proof 01 loss if 00' mode promplly by Borrower. and each insurance company concerned is hereby IUtboriud and din:clcd to make payment for such loss directly 10 the Leuder iamad of '0 the Borrower aod the Lender jointly. aod the illS11f&DCO proceeds. or any pan thereof. may be: applied by Ibe Lender 11 its option either to the reduction of the i.ndebledncss hereby secured or to the restoration or repair of the property d.amqed. la CYClIC of foreclosW'C' of this ia.suumcnl or other transfcr of tide to the lllOtlppl property in C'.niDguilhmen. 01 Ibe __ secured bc:reby. all ri&b~ titl, and interest of tile Borrower in aDd to any iaswance policies 'hen in force shall pass to the pun:Iwer or ......... 9. ThaI.. additioaal and collau:m s<curily lor the paymenl 01 the DOte described. and all sums to become due under Ibis instrumeDt, the Borrower bc:reby........ 10 the Lender all profilS, revenues, royalties. ripts and benefits accruiDJ;lo the Borrower under any and lll1 oil and ps lr:uc:s on said premises. with the right to receive and receipt for the same and apply diem to said indebtedness as well before as after default in the conditions of this instrument, and the Lender may demand. sue for and recover any such payments when due and payable. bUI sbaIl not be: required 50 to do. This assisnmenl is to ~ and become null and void upon release of litis i=umonL 10. nw the Bonower will keep tile buildiDp upoo said prem.... ill aood repojr, and neitber commi. nor pemUI wme upoll said land, aor sulli:r the said premDea to be: .-I lor aoy unlawful _ II, nw if the pn:miIeI. or any pan thereof. be: condemned under the power of eminenl domain. or aoquiml for a publi< use. the damq<:o awanlcd, the pro<:mb lor tile Wi.. of. or the CODIidcmtioa for sw:b acquilitioo. to l.bc extent of the full amount of iDdebtrdoeII upoa lbiI insInunent aDd tbc note which it is liven to oocure remaiJtiaa UIIpUd. are _y -cnc:d by the Bonowcr to .he Leuder. and sbaIl be: paid fortbwilll to _ Leuder to be: applied by the lauer DO la:OUlll of the oat maturinl insulhnenlS of such - 12. The Bonower funher qm:s thaI should llus IIlS1rumen' and the noIe secured _y DOl be: elip1lle for ...orona: under .he NatioaaI HllIISiDJ Aa within .' moo"" from the date be=f (wriaco ..........., of any _ of the Deportmen. 01 Housinland Urban Devdopmen' or authonzed "'" of the Secretary or HOUSl" and Urban 1Je>eIopmeD' daJed subaeqU<llI to the eJlbl man"'" lime from the dale of this ias1lumen1. docIiniDJ to Insure said note aod tIris IIIll11pf'. beiDJ doomed cooc1usi.. proof 01 such IIldipbiliIY~ the Leuder or bolder 01 the IlOIe may, 111lS oplion. da:lare all surns secured bc:r<by _Iy due and payable. NOlWithslaDdi.. Ihe lorqaiq. this oplioa may no! be: esercised by lbe: Lender or the bolder of the note wbeD the IIldipllllilY for insuraoce under the NaIiooaJ. HOUIiaI AD. is due to the Leodcr's failUJ't to remit tbe """'PI< _ pmnium to tile Depanmenl of HousiDJ and Urban ~L 13. Tbal if the Bono.... Wls to make any pa)'DlenlS of mODey .beD the same b<aJnw: due. or Wls to conform to and comply With any or the conditions or aBreements contained in Ihl5 instrument. or die nole which it secures, then the entire principal sum and accrued interest shallal once become due and payable. at the election of the Lender. Lender shall give notice to Borrower prior to acceleration followins Borrower's breach of Iny covenant or agreement in Ihis instrument (but not prior 10 acceleration under p&rl8raph 12 unless applicable law proviJes otherwise). lbe notice shall specify: el) the default; (b) the action required to cure the default; (e) a date. not less Lhan 30 days from tbc dale the notice is given to Borrower. by which the defaul. musl be: cured; and (d) Ib..failure 10 cu", the defaul' on or before the date specified in lb.e nOlice may result in acceleration of lite sums secured by lhis instrument and sale of the Propeny. The DoLice shall funhcr inCorm Borrower of the right to reinstate after acceleration and lhe risht to bring a coun action to assen the non- existence of. default or any other ddense of Borrower 10 &D"'..deration and sale. If the default is not cured on or before the date specified aD the notice.. Lender at its option may require immediate 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 shan be entitled to collect .n expenses incum:d in pUl"!iuing the remedies provided in this panpapb 13. incJudiol. but DOl limited to, reasonable attorneys' fees afld costS or title evidence. If the power of sale is invoked. Trustee: shall record a notice of default in each county in which an~ pan of the Property is located aud shall mail copies of such notice in lbe manner prescribed by applicable law 10 Borrower and to the other persons pre:scnDed by Ipplicable law, After lIIe time required by Ipplicabletaw. Truslee shaD Jive public notice of sale to the PCIi(Jns and in the manner prescribed by applicable law. Trustee. without demand on Borrower, shall sd1lbc Property at public auction UJ me highcst bidder at the time and p1aa: and under the lerms desipaalCd in the notice of sale in one or more parcels and in any order Trustee dClCnnincs.. Trustee may JlO5lpoue sale of all or any parcel of tile Property by public annouoc:emcnl al1hc time and p1ac:c of any previously scheduled sale. Lender or ilS desiplce lOlly purclwe the ProperlY" aoy sale. Upon rca:tPI of payment of the price bid. Trustee shall deliver 10 the pwcJwer TrustcIC's deec1 conveying the Propcny. The recitals in the Trus1ce's deed sbaIl be: prima facie evidm:e of the truth 01 the stau:meIlb made therein, Trustee sbaIl apply the pro<:mb of the sale m the foUowin. order: (a) 10 all expenses of tbc sale. including. bUI nollimited to, Trustee's fees as permitted by applicable law and reasonable attorDCys' fees; (b) to all sums secured by this SecurilY lmtrumen~ and (c) any e""", '0 the per50D or peOODS legally mutled to it 14. Upon accdcrabOD under paragraph 13 or abandonment of the Property. Lender (in person. by qenl or by judicially appomted receiver) shall be entitled lO cnler upon, take po55CSSIon of and ....... the Properly and to coiled "'" renlS of the Property incIudulI those past due, Any renlS collected by LeDder or Ihe rec:eiver s.hall be applied first to payment oftbc com of fI'W1I.8cmenl of the Properly and collection of ",DIS, including, bu. DO' limited 10, receiver's fees. premiums OIl receiver's bonds and reasonable anomey's fees. and Ihen to the sums secured by Ihi.s Instrument P-ve 3 01 5 HUD-l21aDT.,