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88- 106208 .....1 of..... Borrower will live immedille nolice by mail to the Leader. who may make proof of loss if not made promptly by Borrower, and each insura""" company concerned is hcreby autboriud and direcled lO make paymcnl for sucb loss directly 10 Ibe 1.cnder illSlCld oflO lhe Borrower and lhe Lender jointly, and Ibe insurance proceeds, or Iny pan Ihereof, may be applied by Ihe LcIlder al ilS option cither to tile redUCIioo of lhe indebtedn... ~by secured or 10 lbe restOllltion or repair of !be propeny damqed. In cva.. of foreclosure of Ihis inslrUmenl or olher transfer of tide lO the monaqed propeny in extinluishmenl of the iDdebledness secured hereby, 011 ri&h~ title and inlerest of the Borrower in and to any insurlnce policies then iG force shall pass to !be purcbascr or ..antee. 9. Thai IS addilionll Ind coUaleral security for tile paymenl of Ihe aole described, and all sums to become due under lids instrument, lbe Borrowcr hereby assilns 10 Ihe Lender 011 profots, revenues, royaltic:s. riah15 and bencfilS accruing to the Bonower under any and all oil and ... leases on said premises. witll lhe rilbl!O receive and receipt for the same and apply Ihem 10 said indebtedness IS well before as after deeault in the conditions of this instrument" and the Lender may demand. sue Cor and recover any such payments when due and payable, bUI sbaU nOl be required 50 10 do. This assisnmenl is 10 lerminale and become nuUand void upon release of Ihis insuumenL 10. ThaI tile Borrower will keep Ihe buildiop upon said premises ia .oed repair. and neither commit nor permit waste upDn Slid land, aor sulrer lbe said prcmises 10 be used for aoy unJawful purpose. II. 'Ibol if the prcmixo, or any pan thereo~ be condemned under Ibe power of eminenl domain. or acquired for a public use. tile daasaIa awarded, the proceeds for tile taki... o~ or Ibe COlIIidcratioo for such acquisilioo, 10 tile exleDl of tile full amount of iadcllcctIDesI upoo Ibis insIrumeol and the DOle which il is siven 10 IOCUn! remainiq Ullpaid, are hereby assiped by the Borrower lO the Leader. and sball be paid fonbwitll 10 said Lender 10 be applied by tile Jaua no IalIIUllt of the nell OIIlurins ins1l1lmcnlS of sucb indeIIIednea. 12. The Borrower funber aarees WI should Ibis instrumenl and Ibe 00lC secured hereby not be el;,ibJe for insl1l'lllCe uodcr !be NIliooa1 Housin& Act wilbio a,bt moolbs from Ibe dale bereof (wriuen SIIlCIIleol of any 01f1Cel' of the Depanmcol of Housins and Urban Devdopmenl or autllo-= qenl of the Secretary of Housin3 and Urban Developmeol dated sUboequcnlto !be oisbt monlhs' time from Ibe dale of Ibis illSlrllmeO~ decliniJla lO insure said nole and Ibis monpge. bei... deemed conclusive proof of such iodialbililYl, tile Lender or holder of the nOle may. al its option. declare 011 sums secured ~by immedialdy due and payable. NOIwilbs1andins the foreaoinI, this optioo OIly nol be exercised by Ibe Leader or the bolder of Ibe DOle when the indiBibiJity for insurance uoder tile NaIiooaI Housin& A<:I is due 10 !be Lender's faiJon: lO remit tbe l\IlHIpIe insurance premium 10 Ibe Depanmcol of HousinS and Urban DevdopmeoL 13. 'Ibol if !be Borrower fails 10 make any payments of money when tile same become due, or fails to conform lO and comply witll any of lhe condilions or qrccments contained in .his ins.rumen.. or tIIc nOle whicb it secures. lhen lhe cntire princ;ipal sum and .....ued intcresl .haUal once become due and payable, al lhe el..ti... nf the Lender. Lender shall live notice 10 Borrower prior 10 acceleration followinl Borrower9s breach of any covt.:ftInl or ..,cement in Ihis inslrumenl (but nol prior 10 acceleration under parlllraph 12 unless applicable law provides olherwisel. The nOlice shall ,pecify: (a) Ihe defaul~ (bllhe action required to cure the defaull: (c) . dare. nOl less Iban 30 days from lbe dale the nOlice is ,iven 10 Borrower. by which the defaull must be cured; and (dl thai faaure 10 cure Ihe default on or before Ihe dale specifoed in the ootice may resull in accelcration of the sums secured by this insrrumeilland salc of Ihe Propeny. The notice shall funher inform Borrower of lhe riShl to reinstate after aca:lenlioR and the right to bring I court action to assert the non. existence of. deflull or any other defense of Bonower to acceleration and sale. If the deflull is not cured on or before the dale specified in the notice, Lender It its option may require immedialc paymenl in full of all sums secured by this instrument witlloul funher demand ood may invoke the power of sale and any otber remedies permitted by applicable law. Lender ,hall be entilled 10 oollcct all Clpcnses incurred in pUDuing the remedies provided in tIIis parlsraph 13, iocludins. bUI nOllimited 10, reasonable 1II0rneys' fees and costs of title evidence. If Ibe power of sale is invoked. Trustee shaU record a notice of defaull in each coUIIly in which any pan of the Propeny is Iocoted aod shall mail copies of ,uch notice in !be manner prescribed by applicable law to Borrower and lO the otller persons prescn'bcd by applicablc law. After the lime required by applicable law, Trustee shall give public notice of sale to the persons and in the manner prescribed by applicable law. Trustee, without demand on Borrower, shall seUIbe Propeny II public auction lO Ibe hisbcst bidder IlIbe lime and place and uader Ibe lClIlIS dcsipated in !be notice 0( sale in one or more parocls and in any order Trustee de1crmines. Trustee may poslpone sale of all or any parcel of tile Propeny by public aonouncemenl al the time and place of any previously scbeduIed sale. Lender or ilS dcsipee OIly pun:lwe tile Propeny at any IIIe. Upon receipt of paymeol of Ibe price bid. Trustee shall deliver to lbe purchaser Trustee's deed conveyin, !be Propeny. The reciIaIs in !be Trustee', deed sba1I be prima facie evidence of !be truth 0( tile SlllemenlS made therein. TrilS\ee shall apply tile proceeds of tile sale in the followi.. order. (al 10 all elpenses of !be sale, indudin& bol not limited 10, Trwtee', fees IS permilted by applicable law and reasonable altorneys' fees; (h) to 011 ,ums secured by Ihis Security Instrumeo~ and (cl ooy emcD to the person or persons IcpUy entitled to iL 14. Upoo accelcralioo under pa.....ph 13 or abandooment of the Propeny. Leoder (in person, by qenl or by judicially appoioted rellCiver) sba1I be eotitled lO enter upon, like possession of and lIWlIIc \be Propeny and lO c:oIIect Ibe rents of !be Propeny indudin& tIIuse pasI due. Any reolS collecled by Lender or \be receiver shall be applied rust 10 pa)'lllelll of Ibe COSIS of lIIIDIJIeIIIeot or Ibe Propcny aad ..,Uectino of rents, indudi.... bUl nOllimited 10. receiver's fees. premiums DO receiver's bonds and reasonable IIIOmey's fees. and tbeo 10 \be ,ums secured by this insrrumeoL "-3ot5 HUD-lZ1aDT-I u