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009125
<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 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 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 0n a parity with and as fully as if tthe 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. Failing to agree-bn 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 beyond the ultimate maturity of the note first described above.
<br />8. He Hereby assigns, transfers alld'sets over to the Mortgagee, to be applied toward the payment of
<br />the note alid all sums secured hereby in ease 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 />gaged premises during such time as the mortgage indebtedness sliall remain unpaid; and the lHortgagee
<br />shall have power to appoint any agent or agents it may desire for the purpose of renting the salve and col-
<br />lecting the 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 therefrom; the balance
<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 aillounts 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 suelh premiums has theretofore been made under (a) of paragraph 2 (hereof, will pay
<br />promptly when due any premiums therefor. Upon default thereof, Mortgagee inay 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 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 Mortgagee 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 />tr<uhsfer 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 additional and collateral security for the payment of the'note described, and all slues to become
<br />due under this mortgage, the Mortgagor hereby assigns to the Mortgagee all lease bonuses, profits, reve-
<br />nues, royalties, rights, and other benefits accruing to the Mortgagors 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 />inortgage, a,nd the k1ortgagee may demand, Sue for and recover ally such payments when clue and pay-
<br />able, but shall not be required so to do.. This assignment is to terminate and become null and void upon
<br />release of this mortgage.
<br />11. IIe sliall not commit or permit waste; and shall maintain ilhe property in as good condition as at
<br />present, reasonable wear and tear excepted. Upon any failure to so maintain, 111ortgagee, 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, sliall
<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 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 sliall 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,'or to confoi•111;to and coIllply with any
<br />of the conditions or agreements contained in this mortgage, or the notes which it secures, then the
<br />entire principal slim 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 />sliall 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 and Regulations issued thereunder and in effect on1lle date hereof shall govern the rights, duties
<br />and liabilities of.the parties hereto, and any provisions of this or otlier instruments executed in connection
<br />with said indebtedness which are inconsistent with said Title or Regulations are hereby amended to
<br />conform thereto.
<br />The covenants • herein contained shall bind, and the benefits and advantages shall ilture to, the
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