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<br /> the date the entire proceeds of the loan secured by this morcgage are disbursed ,
<br /> mortgagee may at its option declare all sums secured hereby immediately due and payable .
<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 4e 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 />�—{ for in the principal indebtedness.
<br />� � � ?. Upon requeat of the Mortgagee, Mortgagor shall execute and deliver a supplemental note or notea
<br /> � for the sum or sums 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 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 u�ere � 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 /> � cipal indebtedness and shall be payable in approximately equal monthly payments for such period as may
<br /> ^ be agreed upon by the Mortgagee and Mortgagor. Failing to agree on the maturity, the �vho]e of the sum
<br /> or sums 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 /> 8. 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 znertgage or the said note, all the rents, revenues and income to be derived from the mort-
<br /> gaged premises during such time as the mortgage indebtedness shall remain unpaid ; and the Mortgagee
<br /> shall have power to appoint any agent or agents it may desire for the purpose of renting the same and col-
<br /> lecting the rents, revenues and income, and it may pay out of said incomes all necessary commissions and
<br /> i expenses incurred in renting and managing the same and of collecting rentals therefrom ; the balance
<br /> remaining, if any, to be applied to�vard the discharge of said mortgage indebtedness.
<br /> ' 9. FIe will continuously maintain hazard insurance, of such ts•pe 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 �vhen due any premiums therefor. Upon defauit 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 /> � gugee, who may make proof of loss if not made promptly 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 /> r may be applied by the Moi�tgagee at its 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 mox•tgaged property in extinguishment of the indebtedness secured hereby, all �
<br /> I ' right, title and interest of the bSortgagor in and to any insurance policies then in force shall pass to the
<br /> purchaser or grantee.
<br /> 10. As additionfll and collateral security for the payment of the note 'described, a�id alf 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 tne life of this mortgage, executed on said premises, �vith the right to receive and receipt
<br /> for the same and apply them to said indebtedness as �vell before as after defauit 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 x•equired so to do. This assignment is to terminate and become null and void upon
<br />� release of this mortgage.
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<br /> 11 . He shall not commit or permit �vaste ; and shall maintain the property in as good condition as at
<br /> present, reasonable �ti•ear 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 /> i therefor by Mortgagee sh$11 bear interest at the rate provided for in the principal indebtedness, shall
<br /> thereupon become a part of the indebtedness secured by this instrument, ratabiy and on a parity with all
<br />' other indebtedness secured hereby, and sha11 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 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 secui•ed by this
<br /> mortgage, or hereby assigned to the Mortgagee, and shall be paid forth�vith to said Mortgagee, to be
<br /> applied on account of the last 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 �vhich it secures, then the
<br /> entire principal sum and accrued interest shall at once become due and payable, at the election of the
<br /> Murtgagee ; and this 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 mort- -
<br /> gage to the time of commencing such suit, a reasonabie 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 inctuded in the decree of foreclosure. -- �_- �
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<br /> 14. If the indebtedness secured hereby be guaranteed or insured under Title 38, United States Code, ^� '' + y
<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 iadebtedneas which are inconsistent with said Title or Pegulations are hereby amended to , . � � RI
<br /> � conform theretu. � � � � - � -
<br /> The covenants herein contained shall bind, and the benefits and advanta.ges shall inure to, the ` � `'�'`� .
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