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<br /> 77-007419
<br /> 8. If he faila to paY any sum or keep any covenant provided for in this mortgage, the Mortgagee, at
<br /> its option, may pay or perform the same, and all expenditurea so made ahsll be added to the principal sum
<br /> owin� on the above note, shall be secured hereby, and shall bear interest until pai� at the rate provided
<br /> � Yor in the principal indebtednees.
<br /> 7. Upon request of the Mortgagee, Mortgagor shall execute and deliver a supplemental note or notea
<br /> for the sura or suma advanced by Mortgagee for the alteration, modernization, or improvement made at
<br /> the Mortgagor's request ; or for maintenance of said premises, or for taxes or asseasments againat the
<br /> same, and for any other purpoae elaewhere suthorized hereunder. Said note or notes ahall be secured
<br /> hereby on a parity «•ith and as fully as if the advance evidenced thereby µ'ere included in the note firat
<br /> described above. Said supplemental note or notea ahall bear interest at the rate provided for in the prin-
<br /> cipal indebtedness and shall be payable in approximately equai monthly payments for such period as may
<br /> be agreed upon by the Mortgagee and Mortgagor. Fsiling to agree on the maturity , the whole of the sum
<br /> or suma so advanced shall be due and payable thirty ( 30 ) days after demand by the Mortgagee. In no
<br /> event shall the maturity extend beyond the ultimate maturity of the note first described above.
<br /> B. He hereby assigna, transfers and sets over to the Mortgagee, to be ap�lied toward the payment of
<br /> the note and all sums secui�ed hereby in case of a default in the performance of any of the terms and condi-
<br /> tiona of this mortgage or the said note, all the rents, revenues and income to be derived from the mort-
<br /> gaged premiaea during such time as the mortgage indebtednesa shall remaiii unpaid ; and the Mortgagee
<br /> shall ha�'e power to appoint any agent or agents it may desire for the purpose of renting the same and col-
<br /> lecting the rents, recenues and income, and it may psy out of said incomes all necessary commisaions and
<br /> expensea incurred in i•enting and managing the same and of collecting rentals therefrom ; the balance
<br /> reinaining, if any, to be applied toH�ard the discharge of said mortgage indebtedness.
<br /> 9. He �vil] continuously maintain hazard insurance, of such type or types and amounts as Mortgagee
<br /> may from time to time re�uire, on the improvements now or hereafter on said prernises and except �vhen
<br /> payment for all such premiums has theretofore been made under ( a ) of paragraph 2 hereof, �sill pay
<br /> promptly when due any preniiuma therefor. Upon default thereof, Mortgagee may pay the aame. All
<br /> inaurance shall be cae•ried in companies approved by the biortgagee and the policies and renew�als thereof
<br /> shall be held by the biorigagee and have attached thereto losa payable clauses in favor of and in form
<br /> acceptable to the Mortgagee. In event of losa Mortgagor will give immediate notice by mail to the Mort-
<br /> ga�ee, who may make proof of loas if not made promptly by Mortgagor, and each inaurance company con-
<br /> cerned is hereby authorized and directed to make payment for auch loss directly to the Mortgagee instead
<br /> of to the _4lortgagor and the hiortgagee jointly, and the inaurance proceeds, or any part thereof,
<br /> may be applied by the Mortgagee at ita option either to the reduction of the indebtedness hereby secured
<br /> or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage, or other
<br /> transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, a❑
<br /> right, title and interest of the Mortgagor in and to any insurance policies then in force shall pasa to the
<br /> purchaaer or grantee.
<br /> 10. As additional and cullateral security for the payment of the note desca•ibed, and all sums to become
<br /> due under this mortgage, the Mortgagor hereby assigna to the Mortgagee all lease bonuses, profits, reve-
<br /> nues, royaltiea, rights, nnd other benefits accruing to the Mortgagor under anp and all oil and gas leases
<br /> now, or during tne life uf' this mortgage, executed on said premiaea, «•ith the right to receive and receipt
<br /> for the same and apph• them to said indebtedness as u�etl before as after default in the conditions of thia
<br /> mortgage, and the Aiortgagee may demand, aue for and recover any such pay�ments «�hen due and pay-
<br /> abic, but aliall not be i•eyuired so to do. This asaignment is to terminate and become null and void upon
<br /> release of this mortgage.
<br /> 11 . He shall not commit or permit waste ; and ahall maintain the property in as good condition as at
<br /> preaent, reasonable �'ear and tear excepted. Upon any failure to so maintain , Mortgagee, at ite option,
<br /> may cause reasonaUl� maintenance work to be performed at the coat of Mortgagor. Any amounta paid
<br /> therefor b�� Murtgagee shall bear intereat at the rate provided for in the principal indebtednesa, shall
<br /> thereupon become a part of the indebtedness aecured by thia instrument, ratably and on a parity w• ith all
<br /> other indebtednesa secured hereby, and ahall be payable thirty ( 30 ) days after demand.
<br /> 12. If the premises, or any part thereof, be condemned under the po��•er of eminent domain, or
<br /> acquired for a public uae, tlie damagea awarded, the proceeds for the taking of, or the consideration Por
<br /> such acquiaition, to the extent of the full amount of the remaining unpaid indebtednesa secui•ed by thia
<br /> tnortQage, or hereby assigned to the Mortgagee, and shall be paid forthH� ith to said Mortgagee, to be
<br /> apQlied on account of the last maturing instal]menta of such indebtedness.
<br /> 13. If the Mortg�agur faila to make anY payments when due, or to conform to and comply with any
<br /> oY the conditions or agreementa contained in this mortgage, or the notes �+�hich it secures, then the
<br /> ent�re princ�pal aum and accruc�3 interest ahall at unce b�x;ome 3ue and pa> al�I�, at the elrctiun �f the
<br /> Mort,�a�ee ; and this mortgage may thereupon be foreclosed immedistely for the �chule of the indebted-
<br /> nees hereby secured, including the cost of extending the abatract of title from the date of thia mort-
<br /> �age to the time of commencing such auit, a resaonable attorney'e fee, and aiiy sums paid by the Veterana
<br /> Administration on account of the guaranty or insurance of the indebtedness secui•ed hereby, all of which
<br /> shal! be included in the decree of forecloaure.
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<br /> 14. If the indebtednesa aecured hereby be �uaranteed or insured under Title 38, i?nited States Code, ir '
<br /> wch Tit1e and Iie�ulatiot►s iasued thereunder and in effect on the date hereof shall govern the righta, dutiea ; `�
<br /> and lisbilities of the parties hereto, and any provisiona of this or other instruments executed in connection ,� �' '
<br /> w�ith eaid indebt�nrse which are incv�nsistent with said Title or Ref�'uiations are hereby amended to
<br /> cronform thereto.
<br /> The oovenanta herein contained ahall bind, and the benefits and advantages shall inure to, the ,�,
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