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<br />r
<br />
<br />made shall be added to the principal sum owing on the above
<br />note, shaD be secured hereby, and shall bear interest at the rate
<br />set forth in the said note, until paid.
<br />
<br />7, That the Mortjagor hereby assillls, transfers and sets over
<br />to the Morcgagee, to be applied toward tbe payment of the note
<br />and all sums secured hereby in case of a default in the perfor-
<br />mance of any of the terms and conditions of this mortgage or the
<br />said note, all the rents, revenues and income to be derived from
<br />the mortgaaed premises during such time as tbe mortg_ae in-
<br />debtedness sball remain unpaid. and. the Morta_aee shan have
<br />power to appoint any qent or agents it may desire for the pur-
<br />pose of repairing said premises and of renting the same and col-
<br />lecting the rents, revenues and income, and it may payout of
<br />said incomes aU expenses of repairina said premises and necessary
<br />commissions and expenses incurred in renting and managina the
<br />same and of coll:cting rentals therefrom; the balance remaining,
<br />if any. to be applied toward the discharge of said mortgaae
<br />indt:btedness.
<br />
<br />8, That the Mortg.qor will keep the improvements now ex-
<br />isting or hereafter erected on tbe mortgaged property, insured as
<br />may be required from time to time oy the Mortsasee against loss
<br />by fife and other hazards. casualties and continsencies in such
<br />amounts and for such periods as may be required by the Mort-
<br />Plee and will pay promptly, when due, any premiums on such
<br />insurance provision for ~ayment of which has not been made
<br />hereinbefore, All insurance shall be carried in companies ap-
<br />proved by the Mortaaaee and the policies and renewals thereof
<br />shall be held by the Mortsaaee and have aU ached thereto loss
<br />payable clauses in favor of and in form acceptable 10 the Mor-
<br />tPlee. In event of 105s Mortsaaor willsive immediate notice by
<br />mail to the MortPlee, who may make proof of Ion if not made
<br />promptly by MortalBor. and each insurance company concerned
<br />is hereby authcnzed and directed 10 make paymenl for such 1055
<br />directly to the MOrLPlei: instead of 10 the Mortalaor and Ihe
<br />MortiDiee jointly. and the insurance prO<<eds. or any part
<br />thereof. may be applied by the Mortsaaee at its oplion either 10
<br />the reduction of the indebtedness hereby secured or to Ihe
<br />restoration or repair of the property damaled. In evell1 of
<br />foreclosure of this monpse or other transfer of title to Ihe mor-
<br />tsased property in extillluishmcnt of tbe indebtednen secured
<br />hereby, all riJht. title and interest of the MonallOr in and 10
<br />any insurance policies then in force shall pass to the purchaser or
<br />grantee,
<br />
<br />9. That as addilional and collateral ~rit)' for the payment
<br />of the note de:cribed, and .. .u~ 10 l:leo,Jme due under this
<br />mortpae, the Morta.sor ~b)' ~ to the MortPlee .11
<br />profitt, revenues, royalties. riIIW"and bcnents aecruina to the
<br />Mortp.or under any and all oil and ps leases on said premises.
<br />with the rl&l11 to reeeive and receipt for the same and apply them
<br />to said indebtedness u well before as .fter derault in the condi.
<br />tions of this mortllle, and the Mortsasee may demand, sue for
<br />and recover any luch payment!! when due and payab1e. but shall
<br />nol be required 50 to do. This _ssiJnmcnt il to terminate and
<br />become null and void upon relcll5c of this mon.ale.
<br />
<br />I. ..U... WHrfO' the MorIS_lIortS) ha vc
<br />
<br />hereunlo leI
<br />
<br />In prnence of:
<br />
<br />88- 103041
<br />
<br />10. That the Mortsagor will keep tbe b:illdiD15 UJY ~ said
<br />premises in ioad repair. and neither oommit no~ pe1 aUt waste
<br />upon said land, not suffer the said prcm1ises to be ased for any
<br />unlawful purpose.
<br />
<br />11. That if the premises. or any part thcreof,be ~nr.d
<br />under the power of eminent domain, or acquired for a public
<br />use, the damqes awarded. the procceclJ for the tUiD& of. or ihe
<br />oonsideration for such acquisition, to the extent of the full
<br />amount of indebledness upon this mortp&C and the note wbi~ it
<br />is liven to secure remainin& unpaid. are b.ereby ~..~ by Ihe
<br />MortPlor to the MonPlee. and sbl1J be paid fonhwilh to Did
<br />MortNcc to be applied by the latta' on account of the 'neJ?
<br />maturilll installments of such inclebtcdncs5.
<br />
<br />12. The MonNor further aarccs th&t should this tWM1&f,IC
<br />and the note secured hereby not be eJi&ibIe for insur;IDc:lC UDder
<br />the National Housinl Act within days
<br />from the dale hercof (written sta.temenI, of an)' nffK'a' of tbe
<br />Department of Housilll and Urban De:vdopmeut or UIlhoriud
<br />agent of the Sear.ary of Housing and UrbanDt-\~t d&1cd
<br />subsequent to the da)'S. 'lUDe from the dalte
<br />of this mortpJe, d<<JininJ to insure !aid nOle and 1his a:lOr1.IiIFo
<br />being deemed oondusivc proof of .:JUcb iDdi&ibI1ily). tbe Nor-
<br />taaaee or bolder or the note may. 21 jt~ option. dec:1ue an 5UIIU
<br />secured hereby immedWdy due and 1Jli;)'I.bIe.
<br />
<br />13. That if the MortNor fails to mu.e an)' pll)'l!Ial1S of
<br />money when the "me bec:ome due. or fails iO confc:rm llO alll
<br />comply with any of the c:onditiODS or qfecmmts mmUaed in
<br />this monpae, or the DOle which it ~ thm the aIIire prifl.
<br />cipal sum and accrued interest sba11 &1 once bt:ccae due ud
<br />payable, at the election of the M~ aDd dIis ~ may
<br />thereupon be foreclosed immediI1dy ror Ihe .... of Aid
<br />money. interest. montblypaymenlS. C:OSU. puIlDlI n:8lS. taRS
<br />and the cost of extendiDllhe abstract of tide f:c:.dIr: dMI' of
<br />this loan ro the time of commcocin& sudI r~ suit, ..'ill
<br />reasonable anomey's fee. aU or wM:b IbaD be .iDc:IudetS in 1M
<br />decree of foreclosure; and. the conurc embodif:d 1ft .. ~
<br />and the nOle secured J1ercby. sIIa11l..~ all ~ be ~
<br />construed Ind adjudpd by the 1&11'1 ~r Nc:brMb. ,.,ilM:ft dile --
<br />is made,
<br />
<br />The covenants hercitl c:ontliDld IbIII biDd. ad ... ~
<br />and advantqa shalJ inure 10. the It,peah<e bIiB. ~ :M'
<br />minisUIIOrl. succasors. and usips of tile per1ieIlltr<<:o.
<br />Whenever uKd. the siJ.1lUw numba' iIdIl ~ tie pJgra1I.. 11M
<br />plural .he siDl\lw. and the we or ., .....1hIll ~.u
<br />JeRden.
<br />
<br />The foreloilll ronditiolU. all and liDpw. 'bem&ptd~ lilC>
<br />cordin. to their natural and. Icp1 impon. tlliI COIl~ ...,,1
<br />be void and said pmniles rdeaIed at the a;pmIr: of dtt Mon-
<br />Slllor; olhftWise 10 be and m:tWn in futl rON'le aM d'ffldl.
<br />
<br />d;,. ;1'\",I~ir ", ",and(')/,,!,ds,,)' M" is ,.tal r'r'l"l.b."~IIl';liirt,.M,
<br />! . f I" f.~", I .,
<br />_,' ,1C:::-:~,t~~):~",...:..."-"_S):\~"""_.~-".."~.- f~
<br />unctl S.. CchC'
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<br />, . ".a.iu..."L;":....2(~.....<.~~~~.-._~-_....._--""'-".s_.
<br />1\. :en H, COX '
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<br />~.....,.-,.-_._,.....____ ,.. ~'!"""""""_ ,......' ft""..~o-l.,...."""_ ='"".,.,_...,.,"_,......-..'.",;'<,_.~."..""",.-....__"',.,,,.....',~...._'-',,.......J".:,.-."
<br />
<br />....1
<br />f~t
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<br />"<._~_~.."".~."'_"..,, ._,'^,,,....-_"', 4_~_"'~~-...~"",..
<br />
<br />P.g. 3 of .
<br />
<br />U. "
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