|
,,�� � ; y :
<br /> �3 :�z.
<br />`� �
<br /> R..�
<br />�'=� 76- � () � H 5 9
<br />�Y'x
<br />�� G. If he fails to �n • nu � sum or Icec n» coven:n�t rovided for in this mort r� e, the Mort a ee, at
<br /> s. I 3 J A Y P b� K 8 S
<br /> ' its option, may pay ur perl'orm the same, and ull expenditures so made sliall be udded to the pa•incipal sum
<br /> o��•ing ou the above note, shall be secured hereby, and shall benr interest until paid at the rate provicled
<br /> for in the principal inclebtedness.
<br /> " � 7. Upon request of tlie Mortgngee, Mortgagor shall execute and deliver a supplemental note or notes
<br /> foi• the sum or sums nd��nnced by blortgagee for the alteration, modei•iiization, or improveme�it mnde at
<br /> thc Mortgagm�'s request ; or for maintenance of said premises, or for taxes or assessments against the
<br /> ` sauie, and for any other purpose elsewhere autliorized hei•eunder. Said uote or notes shall be secured
<br /> ; hereby on �. parity ���ith and as fully as if the ttch�ance evidenced thereUp ���ere included in the note firsC
<br /> described above. Said supplemental notc or notes shall bear interest at the i•ate provided for in the prin- �
<br /> cipal indebtedness and shall be payable in approximately equal monthly pa��mmits for such period as tnay
<br /> ;' be agreed upon by the 1[ortgagee and Mortgagor. railing to agree ou Lhe mzLurity, the «�hole of the sum
<br /> or sums so advanced shall be due and payable thirty (30) days nl'ter demand by the ,lIortgagee. In uo
<br /> r
<br /> event shall the maturity e�:tend beyond the ultimate maturity of the note lirst described above.
<br /> 8. He hereby assigns, transfers aud sets o��er to the Mortgngee, to be applied to�rard thc payment of
<br /> the note and all sums seciu•ed hereby in case of a default in the performance of any of the terms and condi-
<br /> tions of this mort�age or the said note, all tl�e renLs, revenues and income to be derived frmn the mort-
<br /> ` gaged pi•emises during such time as lhe mortgnge iudebtedness shall i•emain unplid ; vid the llortgagee
<br /> � shall have po�rer to nppoint any agent or agcnts it may desire for the purpose oF renLing the same and col-
<br /> ' Iecting the rents, revenucs and income, and it ma�� pay out of said incomes all necessar�� commissions and
<br /> = expenses incurred in rc�itiug and managing the same and of collecting i•entals tliei•efrom ; t{ie bnlaiice
<br /> -s remaining, if auy, to be npplied to�rnrd the dischnrge of said mortgage indebtedncss.
<br /> 9. He �vill continuously� maintain hazard insur�uice, of such type oi• types and �mouuts as 3lortgagee
<br /> 5' may from time to time remiire, on the improvements now or hereafter on said premises and except �vhen
<br /> pa��ment for all such premiums has tl�eretofore been made under ( a) of paragraph 2 hereof, ���ill pay
<br /> E promptly �vhen due any premiums therefor. Upon default thereoF, AIortgagee map pay the same. All
<br /> ; insurance shall be ecu•ricd in compauies approved by the Riortgagee an1 thc policies and rene���nls thereof
<br /> ; shnll be held by the llortgagee and have altached thereto loss payable clauses in fa��or of nnd in form
<br /> ncceptable to the llortgagee. In event of loss 11oi•tgagor `rill give immedinte notice by� mail to tlie 11ort-
<br /> � gagee, �vho may malce proof of ]oss if nuC made pi•umptl5� hy nfortgagor, and each insurance company coii•
<br /> - cerned is hereUy autl�orized and directed to make payment for such loss directly to the 3lortgagee instead
<br /> of to the .lIortgagoi• n�iel the �Iortgagee jointlt�, and the insurance pi•oceeds, or any pai•t thereof,
<br /> m1y Ue api�lied b�� the Mortgagee at its option eitl�er to the recluction of the indebtedness hereby secured
<br /> or to the restoration or rcpair of the property damaged. in e��ent of fm�eclosure of this mortgage, or other
<br /> Crinsfer of title to the mortgaged property in extinguishment of the indebiedness secured Itereby, all
<br /> f right, title and interest of the 1lortgagor in niid to any insurance policies tlicn in foi•ce sliall pass to tlie
<br /> p�u•chaser oi• gi•antee.
<br /> 10. As additimial and cullateral security for the payment of the note described, and :ill sums to become �
<br /> due mider this mortgage, the llortgagor hereby assigns to the 3Iortgagee all ]ease bonuses, protits, re�•e-
<br /> nues, royalties, rights, nnd other benefits accruing to the Iliortgagor under an�• and all oil and g�s leases
<br /> nou•, or during tne Iife of this mortgage, esecuted on slici premises, �cith the right to recei�•e nnd receipt
<br /> for the same and appl�� them to said indebtedness as ��•ell before as aftm• def'ault in the cmiditions of this
<br /> mortgage, and the \Iortgagce may dcmand, sue for anci reco��cr any such pa}�ments ���iien due and pay�-
<br /> able, but shall not be required so to clo. This assignment is to terminate anci become null and �•oid upon
<br /> releasc of this mortgagc.
<br /> 11 . I�e shall not commit or permit waste ; and shall maintain thc propertt� in as goud condition as at
<br /> present, reasonable �ce�r and Lenr escepted. Upon any failure to so maitrtain , Diortgagee, at its option,
<br /> ma�� cause reasonable mai�rtenance u�ork to be performed at the cost of liortg.igor. Any� amounts paid
<br /> therefor b}• Mortgtigee shall bear interest at thc ratc pro��ided for in tlte principal indebtedness, shall
<br /> thereupon become a part of the indebtedness secured Uy this instrument, ratabl�� .ind a� a parit�� «•ith all
<br /> - other indebtedness secured hcreU}�, and shall be payable thirty (30 ) days after demand.
<br /> 1 `?. I £ the premises, oi• an�• part thercof, be condemned mider the po�cei• 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 acquisitim�, to tlte exte�tL of the full amow�t of the remaining unpaid indebteciness sectu•ed b�� tliis
<br /> mortgage, or hereb�� assigned to the hfortgaqee, nnd shall be paid forth��•ith to saici :�fortgagee, to be
<br /> - applied on �ccou �it of tlie Inst matui•ing installments of such indebted�iess.
<br /> 13. If the �lortgagor fails to make anY pat�ments when due, or to conform to and comply k•ith any
<br /> of the conditions or a�,n•eements contained in this mortgage, oi• the �iotes ���hiclt it secures, tlien the
<br /> entire principa] sum and accrued interest shall at once become due anci pa��able, at the election of the
<br /> \furtgagee ; and this moctgage may thereupon be foreclosed immediately for thc ���hole of the indebted-
<br /> ness hereby secured, iucluding the cost of extending the abstract of title trom the date of this mort-
<br /> gage to the time of commencing such suit, a ccasonable altorney's fce, aud an}� sim�s paicl by� the �'eterans
<br />� � Administration on account of the guarauty or insw•iince of lhe indebtedness secured hm•eb3•, all of �shich
<br /> shall be included in the decree of foreclosure.
<br /> ' 14. If the indebtedness secured hereby be guarantr.ed or insured under Title 3S, United States Code,
<br /> sudi Title and Regulations issued thereunder and in e(�ecti on the d;ite hercof shall go��crn the rights, dutics N �
<br />� � and linbitities of the parties hereto, nnd any provisions of this or other instruments executed in connection �
<br /> �sith said indebtedness tvhich are inconsistent u•itlt said '1'itle or f;e�ulatior,s are I�eceh�• amended to �. :
<br />,� conform thereto. s� �
<br /> �
<br />`� The coecnnnts herein contained shall bind, and the benefits and ndeanta�,�cs shnll intn•e to, thc u�
<br />'?•k
<br /> ti�
<br /> ��
<br /> ;,� I . `- �
<br /> -�
<br />' f
<br /> .(
<br /> P
<br /> ,
<br /> ;
<br /> F
<br /> i
<br /> i
<br />
|