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<br />. 88-
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<br />i06585
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<br />(,. If he/she falls 10 po)' nny !turn or keep 1111)' covenant provided for In this mortgoge, the MOrlgllgcc, III
<br />11:\ option mn)' poy or pcrforli1lhc some, and nil expenditures so mude shall be added to Ihe prludpnl sum owing
<br />oOlhe above nolO, .hnll be seeored hereby, uod shull beur Il1Ieresl uolll puld ullhe rute provided fOl In Ihe prlo-
<br />cipul Indebtedne...
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<br />7. Upon request oJ the MOrlgn8cc, Mortgagor shall ex.ecute nod deliver n supplemental nole or nOle5 for
<br />Ihe sum or sums advancru by MOrlgugee for the alteration, modernlznllon, or Improvement made at the Morl-
<br />gogorls request; or for maintenance of said premises, or for taxes or assessments ngainsllhe some, and for ony
<br />other purpose elsewhere aUlhorized hereunder, Said note or ooles shall be secured hereby on a parity with and
<br />as fully as if the advance evidenced Ihereby were Included In the nole first described above. Said supplemental
<br />note or notes shall bear Irlleresl al Ihe rule provided for in the principal indebtedness and sholl be payable In
<br />appro.imately equal monthly payments for such period as may be agreed upon by the Mortgagee and Morlgagor.
<br />Failing to agree on the maturity, Ihe whole of the sum or sums so advaaeed shall be due and payuble thirty (30)
<br />day:; after demand by the Mortgugee. In no eve at shall the malurity e",end beyond the ultlmale maturity of the
<br />note flm described above.
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<br />8. He/she 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 the terms and conditions
<br />of this mortgage or the said note, nil the rents, revenues and income to be derived from the mortgaged premises
<br />during sueh time as the mortgage indebtedness shall remain unpaid; and the Mortgagee shall have power to ap-
<br />point any agent or agents it may desire for the purpose of renting the same and collecting tbe rents, revenues
<br />and income, and it may payout of said incomes all necessary commis&ions and expenses incurred in renting and
<br />managing the same and of collecting rentals therefrom; the balance remaining, if any, (0 be applied toward the
<br />discharge of said mortgage indebtedness.
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<br />9. He/she will continuously maintain hazard insurance, of such type or types and amounts as Mortgagee
<br />may from time to time require, on the improvements now or hereafter on said premises and except when pay-
<br />ment for all such premiums has theretofore been made under (a) of paragraph 2 hereof, will pay promptly when
<br />due any premiums therefor. Upon default thereof, Mortgagee may pay the same. All insurance shall be carried
<br />in companies approved by the Mortgagee and the policies and renewals Ihereof shall be beld by the Mortgagee
<br />and have auached thereto loss payable clauses in favor of and in form acceptable to the Mortgagee. In event
<br />of loss Mortgagor will give immediate notice by mail to the Mortgagee, who may make proof of loss if not made
<br />promptly by Mortgagor, and each insurance company concerned is hereby authorized and directed to make pay-
<br />ment for such loss directly to the Mortgagee instead of to the Mortgagor and the Mortgagee jointly, and the
<br />insurance proceeds. or any part thereof may be applied by the Mortgagee at its option either to the reduction
<br />of the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclosure
<br />of this mortgage, or other transfer of title [0 the mortgaged property in extinguishment of [he indebtedness secured
<br />hereby, all right, title and interest of the Mortgagor in and to any Insurance policies tben in force shall pass
<br />10 the purchaser 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, revenues,
<br />royalties, rights, and other benefits accruing to the Mortgagor under any and all oil and gas leases now, or dur-
<br />ing the life of this mortgage, e.ecuted 00 said premises, with the right to receive and receipl for the same and
<br />apply them to said indebtedness as well before as after default in the conditions of tbis mortgage, and the Mort-
<br />gagee may demand, sue for and recover any such payments when due and payable, but shall not be required
<br />so to do. This assignment is to terminate and become null and void upon release of this mortgage.
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<br />11. He/she shal] not commit or permit waste; 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, may cause
<br />reasonable maintenance work to be performed at the cost of Mortgagor. Any amounts paid therefor by Mort-
<br />gagee shall bear interest at the rate provided for in the principal indebtedness. shall thereupon become a pan
<br />of the indebtedness secured by this instrument, ratably and on a parity with all other indebtedness secured hereby,
<br />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 acquired
<br />for a public use. the damages awarded, the proceeds for the taking of, or the consideration for such acquisition,
<br />to the extent of the full amount of the remaining unpaid indebtedness secured by [his mortgage, or hereby assign-
<br />ed to the Mortgagee, and shall be paid forthwith to said Mortgagee, to be applied on account of the last maturing
<br />installments of such indebtedness.
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<br />13. If the Mortgagor fails 10 make any payments when due, or to conform to and comply with any of the
<br />conditions or agreements contained in this mortgage, or the notes which it secures, then the entire principal sum
<br />and accrued interest shall at once become due and payable, at the election of the Mortgagee; and this mortgage
<br />may thereupon be foreclosed immediately for the wbole of the indebtedness hereby secured, including the cost
<br />of extending the abstract of title from the date of this morlgage to the time of commencing such suit, a reasonable
<br />attorney's fee. and any sums paid by the Veterans Administration on account of the guaranty or insurance of
<br />the indebtedness secured hereby, all of which shall be included in Ihe decree of foreclosure.
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<br />]4. If the indebtedness secured hereby be guaranteed or insured under Title 3g, United States Code, such
<br />TItle and Regulalions issued thereunder and in effect on the date hereof shall govern the rights. duties and liabilities
<br />of the parties hereto, and any provisions of this or other instruments executed in connection with said indebtedness
<br />which are inconsistent with said Title or Regulations are hereby amended to conform thereto.
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<br />The covenants herein contained shall bind. and the benefits and advantages shall inure LOt the respective
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