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<br /> �s-- � s �U �' 453
<br /> 6. If he faiis to pay any sum or keep any covenant provided for in this mortgage, the Mortgagee, at
<br />' its option, may pay or perform the aame, 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 />' for in the principal indebtedness.
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<br />, ?. Upou 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 aiteration, modernization, or improvement made at
<br /> the Moi�tgagor's request ; or for maintenance of said premises, or for taxes or assessments against the �
<br /> same, and fox any other purpose elsewhere suthorized hereunder. Said note or notes shall be secured
<br /> hereby on a parity �vith and as fully as if the advance evidenced thereby were included in the note first
<br /> described above. Said supplemental note or notes shali bear interest at the rate provided for in the prin-
<br /> cipal indebtedness and shall be payable in approximately equal monthly pnyments for such period as may
<br /> be agreed upon by the biortgagee and Mortgagor. Failing to agree on tlie maturity, the �vhole of the sum
<br /> or sums so advanced shali be due and payable thii�ty (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 to�vard the payment of
<br /> the note and all sums secured hereby in case of a default in the performance of nny of the terms and condi-
<br /> tions of thia mortgage or the said note, all the rents, revenues and income to be derived from the mor�
<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 co1-
<br /> lecting the rents, revenues and income, and it rnay pay out of said incomes all necessa:y commissions and
<br /> expenses incurred in reuting 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.
<br /> 9. He will continuously maintain hazard insurance, of such type or types and amounts as Mortgagee
<br /> may from time to time reqi�ire, on the improvements noav or hereafter on said premises and except when
<br /> payment for all such premiums has theretofore been made under (a) of plragraph 2 hereof, will pay
<br /> promptly �vhen due any premiums therefor. Upon defautt thereof, Mortgagee may pay the same. All
<br /> insurance shall be cai•ried in companies approved by the Mortgagee and the policies ancl rene�vais thereof
<br /> shall be held by the Mortgagee and have attached tliereto 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 /> g�gee, 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 nnd the D'Iortgagee jointly, and the insurance proceeds, or any part thereof,
<br /> may be applied by the Mortgagee at its option either to the reduction of the indebtedness hereby secured
<br /> or to the restoration or i•epair 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 blortgagor in and to any insurance policies then in force shall pass to the
<br /> purchaser or grantee.
<br /> 10. As additionll and collateral security for the payment of the note descriUed, ancl all sums to become
<br /> due under this mortg�ge, the Moi�tgagor hereby assigns to the Mortgagec all lease bonuses, profits, reve-
<br /> nues, royalties, rights, and other benefits accruing to the Mortgagor undcr any and all oil and gas ]eases
<br /> no�v, or during the 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 default in the conditions of this
<br /> mortgage, and the Nloi•tgagee may demand, sue for anci recover any such payments �vhen 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 �vaste ; and shall maintain the property in as good condition as at
<br /> present, reasonable �cear and tear excepted. Upon any failure to so maintain, Mortgagee, at its option,
<br /> may cause reasonabie maintenance work to be performed at the cost of Mortgagoc. Any amounts paid '
<br /> therefor by Murtgagee shall benr interest at the rate provided for in the principal indebtedness, shall
<br /> thereupon become a part of the indebtedness secured by tliis instrument, ratably and on a parity �vith all
<br /> other indebtedness secured hereby, and shall be payable thirty (30) days after demand.
<br /> 12. 1f the premises, or any part thereof, be condemned under the po��•er of eminent clomain, or
<br /> ac9uired for a public use, the damages awarded, the proceeds for the talcing of, or the consideration for
<br /> such acquisition, to the estent of the full amount of the remaining unpaid indebtedness secured by this
<br /> mortgage, or hereby assigned to the Mortglgee, and shall be paid forth�vith to said Mm•tgagee, to be
<br /> applied on account of the last maturing installrnents of such indehtedness.
<br /> 13. If the Mortgagor fails to make any payments when due, or to conform to and comply with any
<br /> of the conditions oi• agreements contained in this martgnge, or the notes ���hich 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 ; and this mortgflge may thereupon be foreclosed imrnediately fo1• the «�ho]e of the indebted-
<br /> ness hereUy secured, includiiig the cost of extending the abstract of title from the date of this mort-
<br /> gage 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 38, United States Code, �'"'`- �
<br /> svch Title And'Regulations issued Ehereunder and in effect on the date hereof shall govern the rights, duties I ;
<br /> and liabilities of the parties hereto, and any provisions of this or other instruments executed in connection -� �
<br /> ; : � .
<br /> with said indebtedneas whicH` are inconsistent with said Title or Regulations are hereby amendecl to s '
<br /> conform thereto. ; ; :� .
<br /> Th'e covenants herein contained ahall bind, ' and the benefits and advantages shall inure to, the . � �'
<br /> � , ar�e . ,.
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