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<br /> 78-� I� U2478 �
<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 shall be added to the prineipal sum
<br /> owing on the above note, shall be aecured hereby, and shall bear intereat until paid at the rate provided
<br /> for ia 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 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 fuily as if the advance evidenced thereby were include.d in the note firat
<br /> deacribed above. Said supplemental note or notes shall bear interest at the rate provided for in the prin-
<br /> � cipal indebtednesa 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 /> i 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 1ny 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 mor�
<br /> gaged premises during such time as the mortgage indebtedness shail remain unpaid ; and the Mortgagee
<br /> shAll have power to appoint any agent or agents it rnay desire for the purpose of renting the same and col-
<br /> Iecting the rents, revenues and income, and it may pay out of said incomes all necessary commissions and
<br /> expenaes incurred in renting and managing the same and of coilecting rentals therefrom ; the balanee
<br /> remaining, if any, to be applied toward the discharge of said mortgage indebtedness.
<br /> � 9. He will continuously maintain hazard insurance, of such type or types and amounts as Mortgagee
<br /> may from time to tirne require, 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, w•ill pay
<br /> � promptly when due any premiums therefor. Upon default thereof, Mortgagee may pay the same. All
<br /> i insurance shall be carried in companies approved by the Mortgagee and the policies and rene�vals thereof
<br /> � shall be held by the Mortgagee and have attached thereto loss payable clauses in favor of and in form
<br /> '' j acceptable to the Mortgagee. In event of loss Mortgagor will give immediate notice by mai2 to the Mort- ` '
<br /> ; gngee, who may make proof of loss if not made prornptly 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 tiiortgagee jointly, and the inaurance proceeds, or any part thereof,
<br /> ;a 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 additionfll and collateral security for the payment of the note 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, royaltiea, rights, and other benefits accruing to the Mortgagor under any and all oil and gas leases
<br /> 4 now, or during the life of this mortgage, executed on said premises, with the x•ight to receive and receipt
<br /> ; for the same and apply 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 reqaired so to do. This assignment is to terminate and become nuil and void upon
<br /> release of this mortgage. -
<br /> il. He shall not commit or permit 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,
<br /> ' may cause reasonable maintenance work to be performed at the cost of Mortgagor. Any arnounts paid
<br /> t2ierefor by Mortgagee shall bear interest at the rate provided for in the principal indebtedness, shsll
<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 taking of, or the consideration for
<br /> a such acquisition, to the extent of the Pu11 amount of the remaining unpaid indebtedness secui•ed 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 installmenta of such indebtedness.
<br /> 1S. If the Mortgagor fails to make snY payments when due, or to conform to and comply with any
<br /> + of the conditions or agreementa contained in this mortgage, or the notes k�hich it secures, then the
<br /> entire priacipa] sum and accraed 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 ��•hole 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 reasonable attorney's fee, and any sums paid by the Veterans A
<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 foreclosnre. ,, �., .
<br /> 14. If the indebtedness aecured hereby be guaranteed or insured under Title 38, United States Code,
<br /> snch Titie and Regulations issued thereunder and in effect on the date hereof shal] go��ern the rights, duties t'' ` �
<br /> a.nd liabilities of the parties hereto, and any provisions of this or other instruments executed in connection � �? ..� ±
<br /> with said indebtedness which are` inconsistent with said 15t1e or Regulations are hereby amended to a• ' ' �
<br /> 4' . � `,
<br /> conform thereto. � � ; ,
<br /> The covenants herein coatained shall bind, and the benefits and advantages shall inure to, the �f A +4 ���
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