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<br /> 7s- U013 '77 . . �
<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 ahall be added to the principal sum
<br /> a. owing on the above note, ahall be secured hereby, and shall bear interest until paid at the rate provided t'..
<br />� for in the principal indebtednesa.
<br />� ?. Upon request of the Mortgagee, Mortgagor shaII execute and deliver a supplemental note or notes V '
<br /> for the sum ox• 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 ot assessments against the F ,
<br />� same, and foi any other purpose elsewhere authorized hereunder. Said note or notes shall be secured
<br />; hereby on a parity �vith and as fuily 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. provided for in the prin- `
<br /> i cipal indebtedness and shall be payable in approximately equal monthly payments for such period as may ;
<br />� be agreed upon by the Mortgagee and Mortgugor. Failing to agree on the maturity, the �r-hole 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 to�vard the payment of 4'
<br /> the note and all sums secured hereby in case of a default in the performance of 1ny of the tern�s and condi- ;.
<br /> tions of thia 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 Mortgagee '
<br /> shall have po�ver 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 /> espenses incurred in renting and managing the same and of collecting x•entals therefrom ; the balance
<br /> remaining, if any, to be zpplied toward the discharge of said mortgage indebtedness.
<br /> 9. He �vill continuously maintain hazard insurance, of such type or types and amounts as Mortgagee �
<br /> may from time to time recn� ire, on the improvements now or hereafter on said premises and except �vhen '
<br /> payment for all such pi•emiums has theretofore been made under (a) of paragraph 2 hereof, �vill pay ;
<br /> promptly wlien due any p:•emiums therefor. Upon default thereof, Mortgagee may pay the same. All t
<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 «•iil give immediate notice by mail to the Mort- r-
<br /> gagee, �vho may make proof of loss if not rnade promptly by Mortgagor, and each insurance company con- E"
<br /> cerned is hereby authorizeci and directed to muke payment for such loss directly to the bTortgagee instead ?�
<br /> of to the �Iortgagor and the Mortgagee jointly, and the insurance proceeds, or 1ny part thereof, .'i
<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 repair 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 Mortgagor in and to any insurance policies then in force shall pass to the � .`.
<br /> purchaser or grantee.
<br /> 10. As additiona( and collateral security for the payment of the note described, and all sums to become
<br /> due under this mortgage, the Mortgagor hereby assigns to the Moi�tgagee all lease bonuses, profits, reve-
<br /> nues, royaltics, f•ights, and other benefits accruing to the Mortgagor under any and all oii and gas leases �'
<br /> no�v, or during the life of this mortgage, esecuted on said premises, �vith the right to receive anci receipt
<br /> for the same and applv them to said indebtedness as well 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 /> 11. He shall not commit or permit �vaste ; and shall maintain the property in as good condition as at
<br /> present, reasonable �vear and tear excepted. Upon any failure to so maintain, Mortgagee, at its option,
<br /> may cause reasonaUle maintenance work to be performed at the cost of Mortgagor. Any amounts paid
<br /> ttierefor by Mortgasee 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 power of eminent domain, or
<br /> acquired for a public use, the damages awarded, the proceeds 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 assigned to the Mortgagee, and shall be paid forthwith to slid Mortgagee, to be
<br /> applied on accouni of the last rnaturing installments of such indebtedness.
<br /> 13. If the Moi•tgagor 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 principal sum and acerued 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 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 co�nmencing 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.
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<br /> .14. If the indebtedness secured hereby be guaranteed or insured under Title 38, United States Code, �"`��'
<br /> such Trtle and Regulations issued thereunder and in effect on the date hereof shall govern the rights, duties
<br /> and liabilities of the partiea hereto, and.any provisions of this or other instruments executed in connection J `� '
<br /> witk 8aid indebtedness which are inconsi§tent with . said Title or Regulations are hereby amended to �
<br /> co�orm .theteto.;� � `
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<br /> The covenants herein ' contained ahall bind, and the benefits and advantages shal] inure to, the '`js ' .' '
<br /> . . . . ' , ' . ' . . - . � . . . . . . . . . . . � . �e`:,. , -. , ..,:..
<br /> . .._,. � :. . . . .,.., . ... .. . ..,.:: ,_ . . . . J . . .
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