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<br />88-4035il1
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<br />6. If he/she fails to pay any sum or keep any covenan~ ,provided for in this mortgage, U1e Mortgagee, at
<br />its option, may payor 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.
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<br />07. Upon request of the Mortgagee, Mortgagor s~ll execute and deliver a supplemental note or notes
<br />for the 8um or sums advanced by Mortgagee for the alteration, modernization, or improvement made at
<br />the:M,ortgagor'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 on a pkrity with and as fully as if the advance evidenced thereby were included in the note first
<br />desCribed above. Said supplemental note or not..s shall bear interest at thc 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 on 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.
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<br />8. Helshe hereby assigns, transfen and sets over to the Mortgagee, to be applied towald the payment of
<br />the note and all sums secured hereby in case of a default in the performance of any of th~ terms and condi-
<br />tions of this mortgage or the said note, 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 Mortgagee
<br />shall have power to appoint any agent or agents it may desire for the purpose of renting the same and col-
<br />lecting the rents, revenues and income, and it may payout of said incomes all necessary commissions and
<br />expenses incurred in renting and managing the same and of collecting rentals therefrom j the balance
<br />remaining, if any, to be applied toward the discharge of said mortgage indebtedness.
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<br />9. Helshe will continuously maintain hazard insurance, of such type or types and amounts 118
<br />Mortgagee may from time to time require, on U1e improvements now or hereafter on said premi8es and
<br />eltcept when payment for all such premiums has U1eretofore been made under fa) of paragraph 2 hereof,
<br />will pay promptly when due any'premiums therefor. Upon default thereof, Mortgagee may pay the same.
<br />All insurance shall be J@if;iii:;~i#"ie<<: lij)proved by the Mortgagee and the policies and renewals
<br />thereof shall be held ~ MOnppl"andr-have. attached. thereto loss payable clauses in favor of and in
<br />form acceptable to theil~~..<<;.J~'~;:~'~IHlt'~PoSll Mortgagor will give immediate notice by mail to the
<br />Mortgagee, who may mue proof 011088 if not made promptly by Mortgagor, and each insurance company
<br />concemed ill hereby authorized and directed to make payment for such 1088 directly to the Mortgagee
<br />instead of to the Mortpgor 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 indebtedne&ll heieby secured
<br />or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage. or oU1er
<br />tran8fer of title to the mortgaged property in extinguishment of the indebtedne&ll secured hereby, all
<br />rilht. title and in1erest of the Mortgagor in and to any insurance policies then in force shall pass to the
<br />purchaIer or grantee.
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<br />10. As additional and collateral security for the payment of the note described, and all sums 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 Mortgagor 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 />mortgage, and the Mortgagee may demand, sue for and recover any such payments when due and pay-
<br />ablc, but shall not be requh'ed so to do. This assignment is to terminate and become null and void upon
<br />release of this mortgage.
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<br />11. He/she shall not commit or permit WBlIte; and shall maintain the property in as good condition as at
<br />present, reasonable wear and tear excepted. Upon any failure to so maintain, Mortgagee, 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 pl'incipal indebtedness, shall
<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.
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<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 shall be paid forthwith to said Mortgagee, to be
<br />applied on account of the last matul'ing installments of such indebtedness.
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<br />13. If the Mortgagor fails to make any payments when due, or to conform to and comply with any
<br />of the conditione 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 payable, at the election of the
<br />Mortgagee j and this mortgage may thereupon be foreclosed immediately for the whole of the indebted-
<br />ness hereby secured, i'lcludillg 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 hel'eby, all of which
<br />Ilhall be included in the I!ecree of foreclosure.
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<br />14. If the indebtedness secured hereby be guaranteed or insul'ed under Title 38, United States Code,
<br />such Title and Regulation8 issued thereunder and in effect on the date hereof shall govern the I'ights. duties
<br />and liabilities of the parties hereto, and any provi,l!ionll of this or othpr instruments ex<'Cuted in connection
<br />with said indebtedness which are inconsistent with said Title or Regulations are herebj' amended to
<br />conform thereto,
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<br />The clJvcnantll herein contained shall bind, and the benefits and advantages shall inul'e to, lilt'
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