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LOAN NC. 13582CARPENTER,
<br />200213673
<br />6. If he /she fails to pay any sum or keep any covenant provided for in this mortgage, the Mortgagee, at its option,
<br />may pay or perform the same, and all expenditures so made shall be added to the principal sum owing on the above
<br />note, shall be secured hereby, and shall bear interest until paid at the rate provided for in the principal indebtedness.
<br />7. Upon request of the Mortgagee, Mortgagor shall execute and deliver a supplemental note or notes for the sum or
<br />sums advanced by Mortgagee for the alteration, modernization, or improvement made at the Mortgagor's request; or for
<br />maintenance of said premises, or for taxes or assessments against the same, and for any other purpose elsewhere
<br />authorized hereunder. Said note or notes shall be secured hereby on a parity with and as fully as if the advance
<br />evidenced thereby were included in the note first described above. Said supplemental note or notes shall bear interest
<br />at the rate provided for in the principal indebtedness and shall be payable in approximately equal monthly payments for
<br />such period as may be agreed upon by the Mortgagee and Mortgagor. Failing to agree on the maturity, the whole of the
<br />sum or sums so advanced shall be due and payable thirty (30) days after demand by the Mortgagee. In no event shall
<br />the maturity extend beyond the ultimate maturity of the note first described above.
<br />8. He /she hereby assigns, transfers and sets over to the Mortgagee, to be applied toward the payment of the note
<br />and all sums secured hereby in case of a default in the performance of any of the terms and conditions of this mortgage
<br />or the said note, all the rents, revenues and income to be derived from the mortgaged premises during such time as the
<br />mortgage indebtedness shall remain unpaid; and the Mortgagee shall have power to appoint any agent or agents it may
<br />desire for the purpose of renting the same and collecting the rents, revenues and income, and it may pay out of said
<br />incomes all necessary commissions and expenses incurred in renting and managing the same and of collecting rentals
<br />therefrom; the balance remaining, it any, to be applied toward the discharge of said mortgage indebtedness.
<br />9. He /she will continuously maintain hazard insurance, of such type or types and amounts as Mortgagee may from
<br />time to time require, on the improvements now or hereafter on said premises and except when payment for all such
<br />premiums has theretofore been made under (a) of paragraph 2 hereof, will pay promptly when due any premiums
<br />therefor. Upon default thereof, Mortgagee may pay the same. All insurance shall be carried in companies approved by
<br />the Mortgagee and the policies and renewals thereof shall be held by the Mortgagee and have attached thereto loss
<br />payable clauses in favor of and in form acceptable to the Mortgagee. In event of loss Mortgagor will give immediate
<br />notice by mail to the Mortgagee, who may make proof of loss if not made promptly by Mortgagor, and each insurance
<br />company concerned 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, may be applied by the
<br />Mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the
<br />property damaged. In event of foreclosure of this mortgage, or other transfer of title to the mortgaged property in
<br />extinguishment of the indebtedness secured hereby, all right, title and interest of the Mortgagor in and to any insurance
<br />policies then in force shall pass to the purchaser or grantee.
<br />10. As additional and collateral security for the payment of the note described, and all sums to become due under
<br />this mortgage, the Mortgagor hereby assigns to the Mortgagee all lease bonuses, profits, revenues, royalties, rights, and
<br />other benefits accruing to the Mortgagor under any and all oil and gas leases now, or during the life of this mortgage,
<br />executed on said premises, with the right to receive and receipt for the same and apply them to said indebtedness as
<br />well before as after default in the conditions of this mortgage, and the Mortgagee may demand, sue for and recover any
<br />such payments when due and payable, but shall not be required so to do. This assignment is to terminate and become
<br />null and void upon release of this mortgage.
<br />11. He /she shall not commit or permit waste; and shall maintain the property in as good condition as at present,
<br />reasonable wear and tear excepted. Upon any failure to so maintain, Mortgagee, at its option, may cause reasonable
<br />maintenance work to be performed at the cost of Mortgagor. Any amounts paid therefor by Mortgagee shall bear
<br />interest at the rate provided for in the principal indebtedness, shall thereupon become a part of the indebtedness
<br />secured by this instrument, ratably and on a parity with all other indebtedness secured hereby, and shall be payable
<br />thirty (30) days after demand.
<br />12. If the premises, or any part thereof, be condemned under the power of eminent domain, or acquired for a public
<br />use, the damages awarded, the proceeds for the taking of, or the consideration for such acquisition, to the extent of the
<br />full amount of the remaining unpaid indebtedness secured by this mortgage, or hereby assigned to the Mortgagee, and
<br />shall be paid forthwith to said Mortgagee, to be applied on account of the last maturing installments of such
<br />indebtedness.
<br />13. If the Mortgagor fails to make any payments when due, or to conform to and comply with any of the conditions
<br />or agreements contained in this mortgage, or the notes which it secures, then the entire principal sum and accrued
<br />interest shall at once become due and payable, at the election of the Mortgagee; and this mortgage may thereupon be
<br />foreclosed immediately for the whole of the indebtedness hereby secured, including the cost of extending the abstract
<br />of title from the date of this mortgage to the time of commencing such suit, a reasonable attorney's fee, and any sums
<br />paid by the Department of Veterans Affairs on account of the guaranty or insurance of the indebtedness secured
<br />hereby, all of which 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, such Title and
<br />Regulations issued thereunder and in effect on the date hereof shall govern the rights, duties and liabilities of the parties
<br />hereto, and any provisions of this or other instruments executed in connection with said indebtedness which are
<br />inconsistent with said Title or Regulations are hereby amended to conform thereto.
<br />The covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective heirs,
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