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<br /> 76- 000456
<br /> 6. If he fails: 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 expenditures so made shall be added to the principal sum .
<br /> • owing on the above note, shall be secured hereby, and shall bear interest until paid at the rate provided
<br /> •
<br /> for in the principal indebtedness.
<br /> 7. Upon request of the Mortgagee, Mortgagor shall execute and deliver a supplemental note or notes
<br /> for the sum or sums advanced by Mortgagee for the alteration, modernization, or improvement made at4. • •
<br /> ed d the Mortgagor's request ; or for maintenance of said premises, or for taxes or assessments against the
<br /> same, and for any other purpose elsewhere authorized hereunder. Said note or notes shall be secured
<br /> hereby on a parity with and as fully as if the advance evidenced thereby were included in the note first
<br /> described above. Said supplemental note or notes shall bear interest at the rate provided for in the prin-
<br /> cipai indebtedness and shall be payable in approximately equal monthly payments for such period as may •
<br /> be agzeed upon by the Mortgagee and Mortgagor. Failing to agree on the maturity, the whole of the sum
<br /> • orsums 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 /> • S. He hereby . assigns, transfers and sets over to the Mortgagee, to be applied toward the payment of
<br /> the note and all sums secured hereby in case of a default in the performance of any of the terms and condi-
<br /> tions of this mortgage or the said note, all the rents, revenues and income to be derived from the mart-
<br /> gaged premises during such time as the mortgage indebtedness shall remain unpaid ; and the Mortgagee
<br /> shall have po*er to appoint any agent or agents it may desire for the purpose of renting the same and col
<br /> luting the rents, revenues and income, and it may pay out of said incomes all necessary commissions and .
<br /> • • expenses incurred in renting and managing the same and of collecting rentals therefrom ; the balance
<br /> remaining, if any, to be applied toward the discharge of said mortgage indebtedness. • y -.
<br /> 9. He will continuously maintain hazard insurance, of such type or types and amounts as Mortgagee .-
<br /> may from time to time require, on the improvements now or hereafter on said premises and except when •
<br /> payment for all such premiums has theretofore been made under (a ) of paragraph 2 hereof, will pay . • •
<br /> promptly when due any premiums therefor. Upon default thereof, Mortgagee may pay the same All
<br /> insurance shall be carried in companies approved by the Mortgagee and the policies and renewals thereof :
<br /> shall be held by the Mortgagee and have attached thereto loss payable clauses in favor of and in form
<br /> acceptable to the Mortgagee. In event of loss Mortgagor will give immediate notice by mail to the Mort-
<br /> gagee, who may make proof of loss if not madepromptly by Mortgagor, and each insurance company con-
<br /> " cerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead
<br /> of to the Mortgagor and the Mortgagee jointly, and the insurance proceeds, or any part thereof,
<br /> mar be applied by the Mortgagee at its option either to the reduction of the indebtednesshereby 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, all
<br /> right, : title and interest of the Mortgagor in and to any insurance policies thenin force shall pass to the •
<br /> purchaser or grantee.
<br /> 1D. As additional aid collateral security for the payment of the note described, and all sums to become . •
<br /> due under this mortgage, the Mortgagor hereby assigns to the Mortgagee all lease bonuses, profits, reve-
<br /> nues, royalties, rights, and other benefits accruing to the Mortgagor under any and all oil and gas leases • -
<br /> now, or during the life of this mortgage, executed on said premises, with the right to receive and receipt
<br /> for the same and apply them to said indebtedness as well before as after default in the conditions of this
<br /> mortgage. and the Mortgagee may demand, sue for and recover any such payments when due and pay-
<br /> able, but shall not be required so to do. This assignment is to terminate and become null and void upon
<br /> release of this mortgage.
<br /> 11 . He shall not commit or permit waste : and shall maintain the property in as good condition as at
<br /> present, reasonable wear and tear excepted. Upon any failure to so maintain, Mortgagee, at its option,
<br /> may cause reasonable maintenance work to be performed at the cost of Mortgagor. . Any amounts paid
<br /> therefor by Mortgageeshall bear interest at the rate provided forin the principal indebtedness, shall
<br /> thereupon become a part of the indebtedness secured by this instrument, ratably and on a parity with all
<br /> other indebtedness secured hereby, and shall be payable thirty ( S0 ) days after demand.
<br /> 12. If the premises , or any part thereof, be condemned under the power of eminent domain, or
<br /> acquired for a public use, the damages awarded, the proceeds for the taking of, or the consideration for
<br /> such acquisition, to the extent of the full amount of the remaining unpaid indebtedness secured by this
<br /> •
<br /> • mortgage, or hereby assigned to the Mortgagee, and shall be paid forthwith to said Mortgagee, to be •
<br /> •
<br /> applied on account of the Iast. maturing installments of such indebtedness.
<br /> 13. If the Mortgagor fails to make any payments when due, or to conform to and comply with any
<br /> of the conditions or agreements contained in this mortgage, or the notes which it secures. then the
<br /> entire principal sum and accrued interest shall at once become due and payable. at the election of the • •
<br /> Mortgagee ; andthis mortgage may thereupon be foreclosed immediately for the whole of the indebted-
<br /> ness hereby secured, including the cost of extending the abstract of title from the date of this mart-
<br /> gzge to the time of commencing such suit, a reasonable attorney's fee, and any sums paid by the Veterans
<br /> • Administration on account of the guaranty or insurance of the indebtedness secured hereby, all of which
<br /> shall be included in the decree of foreclosure.
<br /> 14. If the indebtedness secured hereby be guaranteed or insured under Title 33. United States Code,
<br /> such Title and Regulations issued thereunder and in effect on the date hereof shall govern the rights, duties
<br /> and liabilities of the parties hereto, and any provisions of this or other. instruments executed in connection
<br /> • with said indebtedness which are inconsistent with said Title or Regulations are hereby amended to
<br /> conform thereto.
<br /> • The covenants herein contained shall bind, and the benefits and advantages _hs11 inure to, the
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