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<br /> 78� U02852 .
<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 expenditurea so made shall be added to the principal sum
<br /> owing on the above note, shall be secured hereby, and ahall bear interest untii paid at the rate provided
<br /> for in the principal indebtedness. :
<br /> ' -� 7, Upon request of the Mortgagee, Mortgagor shail 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 againat 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 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 /> cipal indebtedness and shall be payable in approximately equal monthly payments for such period as may
<br /> be agreed upon by the blortgagee 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 Mortgagee. In no
<br /> event shall the maturity extend i�eyond 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 oS any of the terms and condi-
<br /> tions of this mortgage or the said note, all the rents, revenues and incorne 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 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 ail necessary commissions 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 renuire, on the improvements now or hereafter on said premises and except when
<br /> payment for all such pi•erniums 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 /> ; insurance shall be carried in companies approved by the Mortgagee and the policies and renewals thereof �
<br /> shall be held by the NIortgagee and have attached thereto loss payable cIauses in favor of and in form
<br /> acceptable to the Mortgagee. In event of loss Mortgagor will give immediste notice by mail to the Mort-
<br /> gagee, who may make proof of loss if notmade promptly by Mortgagor, and each insurance company con- -
<br /> cerned is hereby authorized and directed to make payment for such loss dii•ectly to the Mortgagee instead
<br /> � of to the Mortgagor and the Mortgagee jointly, and the insurance proceeds, or any part thereof,
<br /> • ? may be appiied 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 foredosure of this mortgage, or other
<br /> transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, a❑ ,,
<br /> 3 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 additionll 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 ail lease bonuses, profits, reve-
<br /> nues, royalties, rights, 1nd other benefits accruing to the Mortgagor under any and all oil and gas leases '"
<br /> now, or during ttte 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 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 /> r able, but shall not be required so to do. This assignment is to terminate and become null and void upon
<br /> � release of thia mortgage.
<br /> 11 . Fie shall not comrnit or permit waste ; and shall maintain the property in as good condition as at
<br /> present, reasonable �bear and tear excepted. Upon any failure to so maintain, Mortgagee, at its option,
<br /> may cause reusonable maintenance work to be performed at the cost of Mortgagor. Any amounts paid
<br /> therefor by Mortgagee shall Uear interest at the rate provided for in the principal indebtedness, shall
<br /> thereupon become a part of the indebtedness secured by this instrument, ratnbly and on a parity with all
<br /> , y other indebtedness secured hereby, and shalt 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 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 said Mortgagee, to be
<br /> applied on account of the ittst maturing installments of such indebtednesa.
<br /> ' t 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 H-hich iL' secures, then the
<br /> entire principal sum and accrued interest shall at once become due and pa�•aUle, at the election of the
<br /> Murtgagee ; and this mortgage mny thereupon be foreclosed immediately for the �vhole of the indebted-
<br /> ness hereby secured, including the cost of extending the abstract of title from the date of this mor�
<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 guaranty or insurance of the indebtedness secured hereby, all of which '
<br /> 3 shall be included in the decree of forecloaure. ,_ ' ,.�' '
<br /> I 14: If the indebtedness secured hereby be guaranteed or insured under Title 38, United States Code, ��
<br /> �' ' such Title and Regulations issued thereunder and in effect on the date hereof shall govern the rights, duties ` ,
<br /> �% and liabilities of the partieahereto, agd any provisions of this or other instruments executed in connection �;` ': `
<br /> ' '�+ tvith said indebtedness which are inconsistent with said Title or Regulations are hereby amended to i` � . '
<br /> conform thereto. ;;� ` x::;�'�
<br /> ; .. ,The covensnts herein contained shall bind, and the benefits and advanLages sl�all inure to, Lhe " ,� " : : `"
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