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<br /> �s- U01026 . . .
<br /> 6. If he fails to pay any sum or keep any covenant provided for in thia mortgage, the Mortgagee, at
<br /> its option, may pay or perform the same, and all expenditurea 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 indebtednesa.
<br /> 7. Upon request 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 againat the
<br /> same, and for any other purpose elsewhere authorized hereunder. Said note or notes shall be aecured
<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 provid.ed 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 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 /> 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 mortgage 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 iblortgagee
<br /> ahull have power to appoint any agent or agents it may desire for the purpose of renting the sarne and col-
<br /> lecting the rents, revenues and income, and it may pay out of said incomes all necessary commisaions and
<br /> expenses incurred in renting and managing the same and of collecting renta]s therefrom ; the balance
<br /> remaining, if any, to be applied toward the discharge of said mortgage indebtedness.
<br /> 9. He wili continuously maintain hazard insurance, of such type or types and amounts as Mortgagee �
<br /> may from time to time require, on the irnprovements now or hereafter on said premises and except �vhen
<br /> payment for all such pi•emiums has theretofore been made under (¢ ) of paragraph 2 hereof, will pay
<br /> promptly ��hen 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 imrnediate notice by mail to the Mort- 4
<br /> gagee, who may make proof of loss if not made promptiy by Mortgagor, and each insurance cornpany con-
<br /> cerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead
<br /> of to the �Iortgagor xnd the lbiortgagee 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 mm•tgaged property in extinguishment of the indebtedness secured hereby, all ;+
<br /> right, title and interest of the Mortgagor in and to any insurance policies then in force shall pass to the
<br /> purchaser or grantee.
<br /> 10. As additional and collateral security for the ptxyment of the nofe described, and all surns to become
<br /> due under this mortgage, the Mortgagor hereby assigns to the Mortgagee all lease bonuses, profits, reve-
<br /> nues, royaities, 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 well before as after clefau]t in the conditions of this
<br /> mortgage, and tlie Moi•tgagee may demand, sue for and 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 waste ; and shall maintain the property in as good condition as at -
<br /> present, reasonable w•ear and tear excepted. Upon any failure to so maintain, Mortgagee, at its option,
<br /> may cause reasonable maintenance �vork to be performed at the cost of Mortgagor. Any amounts paid
<br /> therefor by Mortga�ee shall bear interest at the rate provided for in 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 (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 proceeda for the talcing of, or the consideration for
<br /> such acquisition, to the extent of the full amount of the remaining unpaid indebtedness secured by this
<br /> mortgage, or hereby asaigned to the Mortgagee, and shall be paid forth�vith to snid Mortgagee, to be
<br /> applied on account of the ]ast msturing 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 «�hich it secures, then the
<br /> entire principai sum snd accrued interest shall at once become due and payable, at the election of the
<br /> Mortgagee ; and this mortgage may thereupon be foreclosed immediately for the �chole 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 t9me of commencing such suit, a ressonable attorney's fee, and any sums paid by the Veterans
<br /> Adminiatration on account of the guaranty or insurance of the indebtedness secured hereby, all of which y ,
<br /> ahaA be incladed 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, • �- ::,; ;
<br /> auch 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 r ,� '�" N
<br /> with said indebtednesa which are inconsistent with said Title or Regulations are hereby amended to I , s
<br /> canform thereto. � ' = �y�
<br /> The covenants herein contained shall bind, and the benefits and advantages shall inure to, the � � ` t w�t
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