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0088'74
<br />6. If lie fails to pay any sum or keep any covenant provided for in this mortgage, the Mortgagee, at .
<br />its option rpay.pay of perform the same,'aiid all expenditures so made shall be added to the principal sum
<br />owing on the above note, shall be secured hereby, and shall bear interest until paid at the rate provided
<br />for in the principal. indebtedness.
<br />7. Upon request of the Mortgagee, Mortgagor shall execute and deliver a supplemental note or notes
<br />for the suni or slims 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 assessnients.against the
<br />same, and for any other purpose elsewhere authorized hereunder.. Said note or notes shall be secured
<br />hereby oil 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 Mortgagee and Mortgagor. railing to agree'oii the.niaturity, the whole of the, sum
<br />or sums so advanced shall be due and payable thirty (30) days after demand by the 1Iortgagee.' In no
<br />event shall the•matuiity extend beyond the ultimate maturity of the note first described above.
<br />8. He hereby assigns, transfers and sets over to the 1Mortgagee,.to be applied toward the payment of
<br />the Mote 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 frons the mort-
<br />gagedpremises during such .time as the Mortgage indebtedness shall remain unpaid; and the Mortgagee
<br />shall ]lave power to appoint any agent or'.agents it may desire for the purpose of renting the sae and col-
<br />lecting the resits, revenues and income, and it may pay out of said-inc.onies all nUessary cocommissions 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 will continuously maintaln'hazard insurance, of such type or types and amounts as Mortgagee
<br />may -from time. to time require, on the'iinprovements now or hereafter on said premises and except when
<br />payment for all such premiums. has theretofore been made ruiner (a) of paragraph 2 hereof, will pay
<br />promptly when due any premiums therefor. . Upon default tliereof; Mortgagee may pay the same. All
<br />insurance shall be.car•r•ied 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 promptly 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 1lortgagee 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 Jlie indebtedness secured hereby, all
<br />right, title and interest of the 11ortgagor in alas to any insurance porkies then •in force shall pass to file
<br />purchaser or grantee.
<br />10. As additional and -collateral security for the payment -of the note described, and all sums to become
<br />due ulider tliis mortgage, 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 all oil and gas leases
<br />now, or during' the 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 ally such payments when due and pay-
<br />able, blit shall not be required so to do. This assignment is to terminate and become ]lull and void upon
<br />release of this mortgage.
<br />11. He -shall not commit or permit \Vaste; and shall Inaintaili the property in as good condition as at
<br />present, reasonable wear 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 />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 liereby,,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 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 liereb3- assigned to the Mortgagee, and shall be paid forthwith to said Mortgagee, to be
<br />applied on account of the last maturing installments of such indebtedness.
<br />13. If the Mortgagor fails to make any payments when due, .
<br />to conform t0 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 shill 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 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.
<br />14: If the indebtedness secured hereby be guaranteed or insured under Title 38, United States Code,
<br />such Title ai1d..Regulations issued thereunder and in effect on the (late hereof shall govern the rights, duties
<br />and liabilities of the parties hereto, and any provisions of this or other instrulnellts executed -iii connection
<br />with said indebtedness which are inconsistent with said Title or. Regulations are liereby amended to
<br />conform thereto.
<br />The covenants herein contained, shall bind, aird the benefits and advantages shall inure to, the
<br />p/%
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