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<br /> 78.4 � 01298 . � � � �
<br /> -6. If he faila 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 ao made shall be added to the principal aum
<br /> owing on the above note, shall be secured hereby, and shail bear interest until paid at the rate provided
<br /> for ii► the prizicipal indebtedness.
<br /> 7. Upon, request of the Mortgagee, Mortgagor shail execute and delivera supplemental note or notes �
<br /> for the sum . or sums advanced by Mortgagee for the alteration, modernization, or improvement made at i " - - :-
<br /> the Mortgagor's request ; or for maintenance of said premiaes, 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 inciuded 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 shali be payable in approximately equal monthly payments for sueh period as may f:
<br /> be agreed upon by the Mortgagee and Mortgagor. Failing to agree on the maturity, the whole of the sum �;'
<br /> or sums so advanced shall be due and payable thirty (30) days after demand by the 1�lortgagee. In no R'
<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 's.,
<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 premisea 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 /> expenses incurred in renting and managing the same and of collecting rentals therefrom ; the balance j•,
<br /> remaining, if any, to be applied toward the dischaige of said mortgage indebtedness. ;
<br /> 9. He will continuously maintain hazard insurance, of such type or types and amounts as Mortgagee t,
<br /> may from time to time i•equire, 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 dne any premiums therefor. Upon default thereof, Mortgagee may pay the same. All
<br /> insurance shail be carried in companies approved by the Mortgagee and the policies and renew•als thereof � • ;x
<br /> shall be held by the Mortgagee and have attached thereto loss payable clauses in favor of and in form �':
<br /> acceptable to the Mortga�ee. In event of loss Mortgagor will give immediate notice by maii to the Mort- P
<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 /> may be applied by the Mortgagee at its option either to the reduction of the indebtedness hereby secured � ',
<br /> or to the restoration oi• i•epair of the property damaged. In event of foreclosure of this mortgage, or other 1
<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 then in force shall pass to the "
<br /> purchaser or grantee. �
<br /> �.
<br /> 10. As additionnl and collateral security for the payment of the note desci•ibed, and all sums to bewme 4
<br /> due under this mortgnge, the Mortgagor hereby assigns to the Mortgagee ail lease bonuses ' "`
<br /> , profits, reve- �
<br /> nues, royalties, i•ights, and other benefits accruing to the Mortgagor under any and all oil and gas leases
<br /> now, or during the ]ife of this mortgage, executed on said premises, u•ith the right to receive and i•eceipt y
<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 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 /> il. He shall not commit or permit �vaste ; and shall maintain the property in as good condition as at
<br /> present, reasonflble ��•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 /> therefor by. Mortgagee 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 �vith 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�ti•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 secured by this
<br /> mortgage, or hereby assigned to the Mortgagee, and shall be paid forthwith to slid Mortgagee, to be
<br /> applied on account of the last maturing installments of such indebtedness.
<br /> 13. If the Moi•tgagor fails to' make any payments when due, or to confoi•m 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 principal sum and accrued interest shall at once become due and payable, at the election of the
<br /> Mortgagee ; and this mortgage may thereupon be forecloaed immediately for the �vhole of the indebted-
<br /> ness hereby secured, including the cost of extending the ubstract of titie from tlie 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 /> Adrninistration on account of the gusranty or insurance of the indebtedness secui•ed hereby, all of which ` '
<br /> shall be, included in Lhe decree of foreclosure. ��x '
<br /> �14.s If the indebtedness secured herebybe guaranteed or insured under Title 38, United States Code, a s� �
<br /> such Title and-Regulations issued thereunder and in effect on the date hereof shall govern the rights, duties I TM ' ' � '
<br /> and L`abilities of the parties hereto, and any provisions of this or other instruments executed in connection J � �'
<br /> f ::
<br /> wit1� 'said `Iride�itedness ' whicli are ineonsistent' with said Title or Regulations xre hereby amended to � � >'
<br /> , .
<br /> con€orm;:thereto: . . . : � M ; ;
<br /> The covenanis herein contained shall bind, and the benefits and advantages shall inure to, the �''� , �
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