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<br /> 6. If he fai1R Eo pay any sum or knep any cryvenant provide�l for in this mortgage, the Mortgagee, at
<br /> ita option, may pay or perform the same, and all expenditures so made shail be added to the principai sum
<br /> � owing on the above note, shall be secured hereby, and shall bear interest untii paid at the rate providecl � '
<br />� for in the principal'indebtedness.' i �
<br /> � :'�. . Upon request of the Mortgagee, Mortgagor shall execute and delivera supplemental note or notes i .
<br /> for the sum or sums advanced by Mortgagee for the altex•ation, modernization, or improvement made at �
<br /> � the Martgagor's request ; or for maintenance of said- premises, or for taxes cr assessments against the `
<br /> � same, and for �any other purpose elsewhere suthorized hereunder. Said note or notes shall be secured
<br /> $ hereby on s parity �ith and as fully as if the advance evidenced thereby were i�eluded in the note firat
<br />� described above. Said supplemental note or notes sha11 bear interest at the rate provided for in the prin- �
<br /> � cipat 3ndebtedness and shall be payable in approatimately equal monthly payments for sueh period as may �`
<br />� ,:r
<br /> be agreed upon by the Mortgagee and Mortgagor. Failing to agree on the maturity, the whole of the sum '
<br />; ar sums so advanced sha0 be due aYid payttble 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 .'4Iortgagee, to be applied toward the payment of f
<br /> 1 the note and all sums seciired hereby iti 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, revennes and income to be derived from the mort- y
<br /> gaged premises during such time as the mortgage indebtedness shall remain Lmpaid ; and the Mortgagee �'
<br /> shall have power to appoint any agent or agents it may desire for the purpose of rentin� the same and col- �:
<br /> lecting th+e. 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 there€rom ; the baIance �;
<br /> remaining, if any, to be applied toward the dischar�e of said mortgage inclebtedness. �
<br /> - 9. He will continuously maintain hazard insurance, of such type or types and amuunts as Mortgagee j�
<br /> may from time to time i•equire, on the improvements now or hereafter on said premises and except �vhen �'
<br /> payment for all suah premiums has theretofore been made under ¢ of ara � `�
<br /> ( ) p �,rraph .. hereof, will pay ��
<br /> promptly �vhen due any premiurns therefor. Upon default thereof, Mortgagee may pay the same. All °��
<br /> insuranc.e shall be carried in companies ap�roved by the Mortgagee and tlie policies and renewais thereo€ �;
<br /> . shall be held by the Mortgagee and have attachecl thereto loss payable clauses in favox• of and in form :�� =
<br /> acceptable to the Mortgagee. In event of loss Mort a or wi❑ �` ��"
<br /> S g qive immediate notice by mail to the Mort- . , . .
<br /> gagee, «-ho may make proof of loss if not made promptly by Mortgagor, and each insurance eompany con- �' 'z
<br /> cerned - is hereb,y authorized and ciirected to make payment for such loss directiy to the Mortgagee instead r .�:'
<br /> of to the Mortgagor and the biortgagee jointly, and the insurance proceeds, or any part thereof, i�;
<br /> may be applied by the Moi�tgagee at its option either to the reduction of the indebtedness fiereby secured �.
<br /> or to the restoration or repaix• of tile property damaged. In event of foreclosure of this mortgage, or other F � "
<br /> transfer of title to the moi�tgaged property in extinguishment of the indebtedness secured hereby, all [
<br /> right, title and interest of the Mortgagor in and to any insnrance policies then in force shall pass to the �
<br /> purchaser or grantee.
<br /> 10. As additionaI and collateral security for the payment of the note desci•ibed, 1nd ail sums to become �*
<br /> dne under this mortgage, the Mortgagor hereby assigns to the Mortgagee all lease bonuses, proflts, reve- 5;
<br /> nnes, royalties, rights, and other benefits accruing to the Mortgagor under uny and all oil and gas leases ;'
<br /> . no�4, or during tne life of this mortgage, executed on said premises, with 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 s`
<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 r
<br /> release of this mortgage.
<br /> 11. He shall not commit or peY•mit waste ; and shall maintain the property in as good condition as at `
<br /> present, reasonable �rear and tear excepted. Upon any failure to so maintain, Mortgagee, at its option, t
<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 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�ver 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 forth�vith to said Mortgagee, to be
<br /> applied on account of the last maturing instaliments of such indebtednesa.
<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 which 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 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 seeured hereby, all of which ,`, _
<br /> shsll;be ineluded in the decree of foreclosure. ,,, �„w•
<br /> -14: �If�the iridebtedness secared herebp be guaranteed 'or insured under Title 38, United States Code, �3 `
<br /> s�tc�h Tit1e and �egulatiori's issued thereunder and in effect on the date hereof shall govern the rights, duties , � * �' : ;,
<br /> wi hl�said�i debtednp$��ea here�to, and any provisions of this or other instruments executed in connection ' � -
<br /> � ' ess which are inconsistent wit�t §aid Title or Regulations are hereby amended' to ��� ,
<br /> conform,thereto. � � z .,
<br /> " ' TFie "co`venants herein contained shall bind, ' and the benefits and advantages shall inure to, the r ��`� °' "' ' '-`'
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