|
?„� � , �; � 4:
<br /> 1
<br /> fti: . . . � � _ . `���' �
<br /> z„C�'. '�..:�N.r�i �
<br /> 'C.-.� . . � . .. � . . . . . ,
<br />:`.y-,o , !� . � .
<br />�� e .
<br />� ��
<br />�? J�' D � n � v � , , ,
<br /> 6, If he fails to pny any sum or keep any covenunt pro�•ided for in this mortgnge, the Afortgagee, at
<br /> its option, mup puy oc perForm the same, and all expenditures so made sliall be added to tlie principal sum
<br /> o�ving on the ubove note, shall be secured hereby, and shxll bear interest uutil paid ut the rate provided
<br /> for in the principal indeUtedness.
<br /> 7. Upou request of the ➢4ortgngee, Mortgagoi• shall execute and deli��er a supplementnl noCe or notes
<br /> ` r for the sum or sums ad��anced by hiortgngee for tlie alteration, modernization, or imprevement made at
<br /> the 1lartgagor's request ; or for mninEenance of said premises, or for taxes or assessments against the
<br /> sume, nnd for any other purpose else�vhere uuthorized hereunder. Said note or notes shall Ue secured
<br /> hereby on a parity �vith and as fully as if the advance evidenced thereUy �i•ere included in the note first
<br /> described abo�•e. Said supplementai note or notes shall bear interest at the rate pro��ided for in tlie prin-
<br /> cipal indebtedness and sltall be payable in approximately equai montlily payments for such period as may
<br /> be ngrecd upon by the �Iortgngee and l�fortgngor. Failing to agree on the maturity, the «•hole of the sum
<br /> or sums so nd�•anced shall be due aud paynble thirty (30) days after demand by the blortgagee. In no
<br /> event shali the maturity extend bey�ond the ultimate maturitp of the note first described nbove.
<br /> 8. He hereby assigns, trnnsfers and sets ot�er to tlie hSurtgagee, to be npplied to�sard the payment of
<br /> the note and all sums secured liereUp in case uf a default in the performance of nn�� of the terms aiid condi-
<br /> tions of tltis mortgage or t}te said note, all the rents, reveunes and income to be derived from the mort-
<br /> gaged premises during such time ns the mortgage indebtedness shnll remain unpaid ; and the ➢fortgagee
<br /> shall have po�ser to appoint an}* agent or agents it may desire for the purpose of re�iting the same and col-
<br /> lecting the rents, revenues and income, and it may pay out of said incomes all necessary conm�issions und
<br /> � . exE�enses incurred in renting and managing the same and of collecting ren 'tals therefirom ; Hie bnlnnce
<br /> remaining, if an5�, to be applied to�vard the discharge of said mortgage indebtedness.
<br /> ` ' 9. He ticill wntinuously maiutain hazard insurttuce, of such type or types and ;tmowits ns .11ortgagee
<br /> may from time to time require, on the improrements now or hereafter on s:�id premises and escept �shen
<br /> pa5�ment for all such premiums has theretofore beem m�de mider (a) of paragraph � hereof, ��•ill pay
<br /> ��romptly ���lien due anv preruiums tlterefor. Upon default tliereof, Dfortgagee may pny the same. �Il
<br /> � % insurance shnll be carried in companies approved Uy the \tortgagee nnd the policies and rene�s�als thereof
<br /> �: ; sh111 be held by the ?Flortgagee nnd have attuched thereto loss paynble clauses in fa�•or of and in form
<br /> ncceptable to the lfortgagee. In event of loss \fortgugor �cill gi��e immediate notice bt• mail to the 11lort-
<br /> `-'' ' a ee, «•ho ma make i oof of loss if not made rom tiy Uy \iort a or und each iusurance can an con•
<br /> B �' Y P ' P P BS , P )'
<br /> cerned is liereby authorized auid directed to make pnyment for such loss directly to the .11ortgngee instead
<br /> � � of to the \iortgagor and the A[ortgagee jointly, and the insurance proceeds, or any part thereof,
<br /> � :. may be applied by� Uie blortgugee at its option either to the reduction of the indebtedness hereby secured
<br /> 4 ; or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage, or other
<br /> trausfer of title to the mortgaged property in e�tinguishment of the indebtedness secured hereby, all
<br /> rigltt, title nnd interest of the DIortgagor in t�nd to an�• insurince policies then in force shali pass to the
<br /> � :; pui�chaser or grantee.
<br /> 10. �1s additionnl and collateral security for the payment of the note descriUed, and all sums to become
<br /> � due wider this mortgage, thc lIortgagor herebl' �ssigns to the i�fortgagee all lease bonuses, profits, reve-
<br /> .,
<br /> ;�: � nues, roy�altics, rights, aiid other benefits accruing to the hiortgagor under any a�id all oil znd gas leases
<br /> " no«•, or during tne life of this mortgage, executed on said premises, ��•ith the right to recei�•e and receipt
<br /> � ` for the same and upplt• them to slid indeUtedness as �eell Uefm•e as after default in thc conditions of this
<br /> a. '
<br /> mortgage, nnd the Dlortgagee may demand, sue for and recover any sucli pa�•ments �chen due and pay-
<br /> ablc, Uul shall not be required so to do. This t�ssignment is to terminate �nd Uecame null and void upon
<br /> � release of this mortgage.
<br /> " ! 11 . He shall not commit or permit �vaste ; and shall mnintain the propert�• in as good condition as at
<br /> �:
<br /> present, re:isonflble tirear and tear c�cepted. Upon auy failure to so maintain, \fortgagee, at its option,
<br /> F inay cause rensonablc maiiiten<mce �cork to be performed at the cost of :liortg�gor. Any� amounts paid
<br /> ttierefor by Mortgagee sluill �ear interest at the rate provided for in the pri��cipal indcUtedness, shall
<br /> � ', thcreupon become a part of the indeUtedness secured by this instrument, ratabl�� and on a parit5• n•ith ull
<br /> _ othec indebtedness secured hereby, nnd shall be paynble thirty ( 30) daps nfter demand.
<br /> 12. If the premises, or ant• part thereof, be condemned under the po�rcr of eminent domain, or
<br /> acquired for n Public use, thc damages a�sarded, the proceeds for the talcing of, or the considcration for
<br /> ': ; such acquisition, to the estent of the full nmount o[ the remaining unpaid indebtedness secured by this
<br /> mortgage, or hereb�• assigned to the hiortgagee, nnd shali be paid forthn�ith to said ➢fortgagee, to Ue
<br /> r npplied on account of the last maturing installments of such indebtediiess.
<br /> � 13. If tlie .lfortgagor fails to make any pa��meiits «�hen due, or to confoi•m to ancl comply ��•itli 1n�•
<br /> '? of the conditions or agreements contained in this mortgage, or the uotes n�l�ich it secures, ttien the
<br /> entire principal sum and accrucd interest shnll ut once become due nnd pa)'.ible, at the election of the
<br /> .liortgagce ; and this mortgage m�y thereupon be foreclosed immediately for the ���hole of the indebted-
<br /> ness hereby secured, includiug the cost of extending the ubstract of title from the date of this mort-
<br /> gnge to the time of commencing such suit, a reasonable attorney's fee, and any sums pnicl by the Veternns
<br /> Administration on account of the guaranty or insurance of the indebtedness secured hereby, all of �ehich
<br /> shall be included in the decree of foreclosure. '
<br /> 1�1. If the indeUtedness secured hereUy be guaranteed oi• iusured under Titic 33, United States Code, , '"^.� " -
<br /> such Title and Pegulations issued tltereunder and in effect on tlie date hereof shall go�•ern the rights, duties ev �
<br /> I and liabiliLies of t}ie pnrties hereto, and any pro��isions of tliis or other instruments executed in connection , �
<br /> ' «•ith said indebtedness which are inconsistent «�ith said Title or Regul,ttions are hereby amended to �
<br />�`' : conform thereto. p:; '
<br />`� The covennnts herein contnined shnll bind, and the benefits nnd ndvantages shall inure to, the �
<br />�'
<br /> i�?.
<br />:�
<br />�'
<br /> a 1 �� J
<br />": �
<br /> F
<br />
|