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<br />\ 81- 107378
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<br />clauses in favor of and in form acceptable to the Mortgagee. In
<br />event of loss Mortgagor will give immediate notice by mail to the
<br />Mortgagee, who may make proof of loss if not made promptly
<br />by Mortgagor. and each insurance company concerned is hereby
<br />autborized and directed to make payment for such loss directly to
<br />the Mortgagee instead of to the Mortgagor and the Mortgagee
<br />jointly, and tbe insurance pr~. or any part thereof, may be
<br />applied by the Mortgagee at its option either to the reduction of
<br />the indebtedness hereby secured or to the restoration or repair of
<br />tbe property damaged. In event of fom:losure of this mortgage
<br />or other transfer of title to tbe said premises in extinguishment of
<br />tbe indebtedness secured hereby, all right. title and iot<<est of the
<br />Mortgagor in and to any insuralKle policies then in force sbaII
<br />pass to the purchaser or grantee.
<br />
<br />9. That as additional and roIIatcnl s::curity for the plI}'Mmt
<br />of the note described. and all sums to beoome due under this
<br />mortgage, the Mortgagor bereby assigns to the Mong;agee all
<br />profits. re'\'mues. ro}'3lties. rights and bmefits accruing to the
<br />Mortgagor under any and all oil and gas !eases on !.aid pmniscs,
<br />with the right to reo:n'e and m:eipll for the same and apply tbem
<br />to said indebtedness as wdl before as afta dtfaull in Ihe 1OOOl!i.
<br />tions of this mortgage. and the MOItgagcc may dmlmd. Sll.-e (()if
<br />and reOCl\'er any S1IIm pa}-meDU .men due and payable. oot :sbaII
<br />DOl be required so to do. This assignment is to tmnimaIe and
<br />beoome null and ,'Oid upon rdea..<e of tbis moogage.
<br />
<br />10. That lbe MOlt,gagor ...ill keep Ibe ~ upoo ;;aiid
<br />premises in good r,epair. and ootber oommit oo.r permit .'a!;lIe
<br />upon said land. BIDr suffer Ibe said pumises to be u:!JOd fN ;my
<br />unlawful purpose.
<br />
<br />II. That if the premises. or an)' palt aboroof. be ~
<br />under the po1Il'er of cmiDmt domain. or 20qUired f()if :a Il'lIINOC
<br />use, the damages :ll11l-ankd, tbe pro<<cds rOlt abe aakin.!; of. <00 tbe
<br />ronsidmuion fOif sa aoquisitioo, 10 tbe 01Clllt or tbe felll
<br />amount of inlkbleilness upoo this ml!lil1P$C :md tbe lOO'le ...l!lI.idlD it
<br />is gO'eI1 to m:ure ~ unp.1lid. :arc hNdly ~ b)' lbe
<br />MOItp.gor to tbe Moo~. and sJWI be p;aid C041th...ith to $lid
<br />Mortpgee to be 2JllPtied by tbe WtN on :aooa>mll of ahe Q;lm
<br />maturing installmem of web iDdcllIlcdnes~,
<br />
<br />10 .illlels _tlmof tbe Ml!liI1~(\) ..
<br />In p;esmoe of:
<br />
<br />hfaroa:110 !/(II
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<br />12. The Mortgagor further agrees that should this mortgage
<br />and the note secured hereby not be eligible for insurance under
<br />the National Housing Act within 60 days
<br />from the date hereof (written statement of an officer of the
<br />Department of Housing and Urban Development or authorized
<br />agent of the SecretaI)' of Housing and Urban Development dated
<br />subsequent to the ~ days' time from the date
<br />of this mortgage, declining to insure said note and this Mortgage,
<br />being deemed conclusi\'C~ proof of such ineligibility), the Mort-
<br />gagee or holder of the note mal'. at its option, declare all sums
<br />secured heRby immedi.atd)' due and pa)"able. Notv.itbstanding
<br />tbe foregoing. tbis option may nOl be exercised by the holder of
<br />the note "~ohm the ineligibility for inslllal1<< under the National
<br />Housing Act is due to the l\.fortga~e's failure to remit the Mort-
<br />gage II1SUIaIItt Pmniwn to the Depanment of Housing and
<br />Urban Oc\'Clopment.
<br />
<br />13. That if the Mongagor fails to make an)' pIl)'IIlents of
<br />monq' wilen the same !le..'"(Jme du-e. or fails to ronform to and
<br />oomply ",itb any of the conditions or agreements contained in
<br />tIili; mortg;l..,~. or 1M IlOlc wbkb it ~'UlC$, then the entite prin.
<br />cipal WIll and orocruod inltrest shall at OIl<< oo..'Ome dU(' and
<br />p:l}'.lNe. at tbe ~ of the Mortgagee; and this mortgage mOl)'
<br />lhcnupoo be f~ immcdi.ucly for the whole of said
<br />DlIOUle)\ mtCRSt. monthl)' pIl}'1lllents, ..-mts. ground rents, ta.us
<br />and the al6t of nllmding the abtltrart of title from the date of
<br />1this !loon to tbe time of OOlIllIWlcing mch fortt!c6ure suit. and a
<br />~blle altoomy's ftt. all of "'w...il shall be included in the
<br />llBo.:RIe of fOl~; and tbe OOIllr.Kl mtOOdies in tlUs mongage
<br />and tbe lOO'le !/ClWmi beidly. shall in all telJ!(\.'ts be golmIled.
<br />~ and zdj~ by 1!I.e !a'A$ lOf N'cblasb. whft't the wne
<br />~s~.
<br />
<br />Tbe <oo"mmts ~ oooolilim:d shill bind. and the benefits
<br />and ;alhallll:&#$ s!nIB mlllte 10. the 1ft$JII.,..i~e hfln. 6<<utOI$,
<br />;zIlIminirltnt~. wooetSJan.. and ;migns of the 1Wtt6 hereto.
<br />\\~u ud. tbe siqu!u numb<< shall indude tbe plural. tbe
<br />pUur;zJ the ~. and t!l.e UIle of any ~ndcr shall include all
<br />~tlls.
<br />
<br />The f~ (~iin&s. an and singular. bctn& ~fOlmed
<br />~ to thrir 1IlI!l1Ull0ll and ~ im(Nlrt. 1M rotl\C)'Ol11'<.-e sball
<br />be ,'Iliid amd g.DiI ~ rdeaied III the .e.,~ of the !\.fort-
<br />~; Ot!llmoi1e to be :md rmWD in run fortt and erred.
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<br />h'll!ld(~) t~ dolT :md )'C'.u fmt a.bo~e wrium.
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