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<br /> 7s- U02367 • .
<br /> 6. If he fails to pay any sum or keep any covenant provided for in this mortgage, the Mortgagee, at
<br /> sita option, may pay or perform the same, and all expenditures so made shall be added to the principal sum
<br /> owing on the above note, sh�ll be secured hereby, and ahall bear interest until paid at the rate provided
<br /> f for in the prittcipal indebtedness. t �
<br /> r 7. Uponrequest of the Mortgagee, Mortgagor shall execute and deliver a supplemental note or notes �
<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 against 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 �vere included in the note first
<br /> described above. Said supplemental note or notes ahall bear interest at the rate provided for in the prin-
<br /> cipal indebtedness and shali be payable in approximately equal monthly payments for such period as may
<br /> be agreed upon by the Nlortgagee and Mortgagor. Failing to agree on the maturity, the �vhole 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 shali 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 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 commisaions and
<br /> expenses incurred in renting 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 �vill continuously maintain hazard insurance, of such type or types and amounts as Mortgagee
<br /> may from time to time require, on the improvements now or hereafter on said premises and except when
<br /> payment for all such premiums has theretofore been made under (¢) of paragraph 2 hereof, �vill pay
<br /> promptly �vhen 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 immediate notice by mail to the Mort-
<br /> gagee, who may make proof of loss if not made promptiy by Mortgagor, and each insurance company con-
<br /> '. cerned is hereby suthorized and directed to make payment for such loss directly to the NIortgagee instead
<br /> � of to the Mortgagor and the biortgagee 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 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. _�`� ;:�
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<br /> � 10. As additionnl and collateral security for the payment of the note described, and all sums to become
<br /> due under this mortgnge, the Mortgagor hereby assigns to the Mortgagee all lease bonuses, profits, reve-
<br /> nues, royalties, rights, and other benefits accruing to the Mortgagor under any and ali oil and gas leases
<br /> now, or during trte 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 `•
<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 nuli and void upon
<br /> , release of this mortgage.
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<br /> ' i 11 . He aha11 not commit or permit waste ; and shall maintain the property in as good condition as at
<br /> , present, reasonable �sear 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 /> i therefor by Mortgagee shall bear interest at the rate provided for in the principai 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 hereb and shall be a able thirt
<br /> ; Y, P Y y (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 proceeds for the taking of, or the consideration for
<br /> ' auch 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 said Mortgagee, to be
<br /> ,-i applied on account of the last maturing installments of such indebtedness.
<br /> 13. If the Mortgagor fails to make any payments �vhen due, or to conform to and comply with any
<br /> of the conditions or agreements contained in this mortgage, or the notes �vhich 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 mortgxge may thereupon be foreclosed irnmediately for the �vhole of the indebted-
<br /> • � ness hereby secured, inctuding the cost of extending the abstract of titie 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 ' ' `
<br /> �i ' guaranty or insurance of the indebtedness secured hereby, all of which r +�
<br /> - shall be included in the decree of foreclosure. ,„ * � _
<br /> •'� 14. If the indebtedness aecured hereby be guaranteed or insured under Title 38, iJnited Statea Code, �
<br /> � such Title and Regulations issued thereunder and in effect on the date hereof shall govern the rights, duties � "' � �
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<br /> and liabilities oP the partiea hereto, ana any provisions of this or other instruments executed in connection �_ ' .
<br /> with said indebtedness which are inconaiatent with said Title or Regulations are hereby tunended to y ,� ���;`�
<br /> , 4, conform -thereto. ,w,„ :.�,P
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<br /> 4 The covenants herein contained ahall bind, : and the benefits and advantages shall inure to, the
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