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011052
<br />6. If lie fails to pay any sum or keep any covenant provided for in this mortgage, the Mortgagee, at
<br />its option, may pay or perforin the same, and all.expe;nditures 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 tile principal indebtedness.
<br />7. Upon request of the Mortgagee, Mortgagor shall execute and deliver a st.ipplemental'note. or notes
<br />for the sum or sums advanced by Mortgagee for the alteration, modernization,* or improvement made at
<br />the Mortgagor's reque4t; 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 oii a parity Nvith and as fully as if the advance evidenced thereby Nvere included in: the note first
<br />described above. Said supplemental note or notes sh�all bear interest at the rate provided for in the prin-
<br />cipal indebtedness and.sliall be payable -in approximately equal monthly payments for such period as inay
<br />be agreed upon by the Mortgagee and Mortgagor. Failing to agree oil the maturity, the whole of the sum
<br />or sums so advanced shall be due and payable thirty (30) days after demand by the '11fortgagee. In no
<br />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 any of tile terms and coiidi-
<br />tions of this mortgage or the said iiote,'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 111ortgagee
<br />shall have power to appoint any agent or agents it may desire for the purpose of renting the s,�iile and col-
<br />lecting tile* rents, revenues and income, and it may pay out of said incomes all necessary commissions and.
<br />exl)eiises incurred in renting and managing the same and of collecting rentals therefrom; the balance
<br />remaining, if iiiy,. to be applied toward the dischargdof said mortgage indebtedness.
<br />9. He'will continuously maintain - hazard insurance, of such type or types and amounts as Mortgagee
<br />inay froin'tinie to time require, oil the iniprovements now or hereafter oil said premises and except wheii
<br />payment for all such preniiiiins has theretofore been made under (a) of paragraph 2 hereof, will 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 11fortgagee and the poli.cies and renewals thereof
<br />shall be held by the Mortgagee and have attached thereto loss payable clauses lhi favor of and in form
<br />acceptable to the IN'lortgagee. In event of loss IVIortgagor will give immediate notice by mail to the Mort-
<br />gagee, who inay inahe proof of loss if not made propiptly by Mortgagor, and each iiis�iraiice company Coll-
<br />�eriied is hereby authorized and directed to inake payment for such loss directly.to the Mortgagee instead
<br />of to the -Mortgagor and the -Alortgagee 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 nlortgaged 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 Corce shall pass to the
<br />purchaser or grantee.
<br />10. As additional and collateral security for tile payment of the note described, all(] all sums to beconie
<br />due under this mortgage, the lllortgago� 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 tile 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 -\Nrell before as after default in the conditions of this
<br />inortgage,. and the 11\1ortgagee may demand, sue for and recover any such paynients when due and pay-
<br />able, but shall not be required so to do.' This assignment is to te�nlinate and become null and void upon
<br />release of this mortgage.
<br />11. He shall not commit or permit Nvaste; and shall maintain the property in as good condition as at
<br />present, roasonable -wear and tear excepted. Upon any failure to so maintain, Mortgagee, at its option,
<br />may cause reasonable maintenance Nvork, to be performed at the,- cost of Mortgagor. Any amounts paid
<br />Ji,crefor 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 oil a parity with all
<br />other indebtedness secured hereby, and shall be payable thirty (30) (lays after demand.
<br />12. If the premises, or any part thereof, be condemned under the power of eniiiient doinain, 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 oil account of the last maturing installments of such indebtedness.
<br />13. If tile IMortgagor fails to make any payments wheii due, or to conforin to 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 sum and accrued interest shall at once become -due and payab.le, at the election of the
<br />111ortgagee; and this mortgage inay thereupon be foreclosed ininiediately for the whole of the indebted-
<br />ness hereby secured, including the cost of extending the abstract of title from the (late of this niort-
<br />gage to the time of commencing such. suit, a reasonable attorney's fee, and aii3, sums paid by the Veterans
<br />Administration oil 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 and Regulations issued thereunder all(] in effect oil the (late hereof shall govern the rights, duties
<br />and liabilities of tile parties hereto, and any provisions of this or other instruments executed in connection
<br />with said indebtedness which ire inconsistent with said Title or Regulations dre hereby aniended to
<br />conform thereto.
<br />The covenants herein coutained shall bind, and.the benefits and advantages shall inure to, the
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