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event of loss Borrower will give immediate notke by mail to the Lender. who mllY make pruof nf loss if nol made promptly by Borrower. Ilnd each insurance company concerned is hereby authorized and direcled to make payment for such 105.'i directly to the lender instead of to the Borrower and the lender jointly, and the insurance proceeds, or any part thereof. may be applied by the Lender at its optio.: either to the reduction of the indebtednc.'i!i hereby secured or to the restoration or repair of the property damaged. In tv.:nt of foreclosure of this instrument or other transfer of title to Ihe mortgaged property in extinguishment of the indcbtcdness secured hereby, all right, title and interest of the Borrower in and to any insurance policies thcn in force shall pass to the purchaser or grantee. 9. That as ndditionaland collaternl security for the payment of the nOle described. and all sums to b::come due under this instrument. Ihe Borrower hereby assigns to the lender all profils, revenues. royalties, rights and benefits accruing to the Borrower under any and aU oil and gas lenses on said premises, with the right to receive and receipt for the same and apply them 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. but shall not be required so to do. This assignment is to terminate and become null and void upon releuse of this instrument. 10. That the Borrower will keep the buildings upon said premises in good repair, and neither commit nor permit waste Llpon said land, nor suffer the said premises to be used for any unlawful purpose. 11. That if the premises, or any part thereof. be cundemned under the puwer of eminent domain. or acquired for a public use, the damages awarded, the proceeds for the taking of, or the considerati<}n for such acquisition, to the extent of the full amount or indebtedness upon this instrument and the nute which it is given to secure remaining unpaid, arc hereby assigned by the Borrower to the Lender, and shall be paid forthwith to said lender to be applied by the latter on account of the next maturing installments of such indebtedness. 12. The Borrower further agrees that should this instrument and the note secured hereby not be eligible for insurance under Ihe National Housing Act within eight months from the date hercor (wrillen statement of any officer of the Department of Housing and Urban Development or authorized agent of the Secretary or Housing and Urban Development dated subsequent to the eight months' time rrom the date of this instrument, declining to insure said note and this mortgage, being deemed condusive proof of such ineligibility). the lender or holder of the note may. at its option, declare all sums secured hereby immediately due and payable, Notwithstanding the foregoing, tbis option may not be exercised by the Lender or the holder of the note when the ineligibility for insurance under the National Housing Act is due to the Lender's failure to remit the mortgage insurance premium to the Department of Housing and Urban Development. J 3. That if the Borrower fails to make any paymenl5 of money when the same become due. or fails to conform to and comply with 88- 106865 uny III tilL' l;llndilllm~ or llgrecments cnnluined in this instrument, or the flute which it !iecure~. Ihen the entire principal sum Ilnd accrued interest ShllIl alllm:c become due and payable. at the election of the lender. lender shall give notice to Horrower prior In acceleration following lIarrower's brench of any covenl.lnl or agreement in this instrument (but not prior 10 acceleration under paragraph 12 unless applicahle law provides otherwise), The notice shall spcciry: (al the default; (b)lhe action required 10 cure the derault: (c) a dllte. nolless than 30 days from the date the notic.:! is given to Borrower. by which the default must he cured: and (d) thut 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 or the Property. The notice shall further inform Borrower or the right to reinstate after acceleration and the right to bring a court action to assert the non- existence or a default or any other defense of Borrower to llcccleration Ilnd sale. If the default is not cured on or before the date specified in the notice. Lender at its option may require immediate payment in full of all sums secured by this instrument wilhout further demand and may invoke the power of sale and any other remedies permitted by applicable law. Lender shall be entitled to collect all expenses incurred in pursuing Ihe remedies provided in this paragraph 13. including, but not limited to, reasonable uttorneys' rees and costs of title evidence. If the power of sale is invoked. Trustee shall record a noticc of default in each counlY in which any part of the Property is located and shall mail copies or such notice in the manner prescribed by applicable law to Borrower and to the other persons prescribed by applicable law. After the time 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 selllhc Property at public auction to th~ highest bidder at the time and place and under the terms designated in the notice of sale in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any parcel of tbe Property by public announcement at the time and pIBt..'C of any previously scheduled sale. Lender or ilS designee may purchasc the Propeny at any sale. Upon receipl of payment of the price hid, Trustee shall deliver 10 the purchllSer Trustee's deed conveying the Propen)'. The recitals in the Trustee's deed shalt be prima facie evidence of the truth of the statements made therein. Trustee !IhalI apply the proceeds of the sale in the following order: (a) to all expenses of the sale, including. but not limited tu. Trustee's rees as permitted by applicable law and reasonable attorneys' fees; (b) to all sums secured by this Security instrument; and (c) any excess to the person or persons legally entitled to it. 14. Upon acceleration under paragraph 13 or abandonment of the Property, Lender (in person, by agent or by judicially appointed receiver) shall be entitled to enter upon, take possession of and manage the Property and to coUect the rents of the Property including those past due. Any rents coUected by Lender or the receiver shall be applied first to payment of the costs of management or the ProJX:rty and concetlon of rents, induding, but not limited to, receiver's fees, premiums on receiver's bonds and reasonable attorney's fees, and then to the sums secured by this instrument. PI'I''lj .15 J .i -J\..,t"v HUD.92U3DT .,