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<br />87- 103125
<br />8. If he /she fails to pay any sum or keep any covenant provided for in this mortgage, the Mortgagee, at
<br />ita option, may pay or perform the same, and all expenditures so made shall be added to the
<br />owing on the
<br />principal sum
<br />above note, shall be secured hereby, and shall bear interest until paid at the rate provided
<br />for In the principal indebtedness.
<br />7. Upon request of the Mortgagee, Mortgagor shall execute and deliver a supplemental note or notes
<br />for the sum or sums advanced by Mortgagee
<br />for the alteration, modernization, or improvement made at
<br />the Mortgagor's request; or for maintenance of said premises, or for taxes or assessments
<br />same, and for
<br />against the
<br />any other purpose elsewhere authorized hereunder. Said note or notes shall be secured
<br />hereby on a parity with and as fully
<br />as if the advance evidenced thereby were included in the note first
<br />described above. Said supplemental note or notes shall bear interest
<br />at the 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
<br />and Mortgagor. Failing to agree on the maturity, the whole of the sum
<br />or sums so advanced shall be due and payable thin 30 days after demand by the Mortgagee.
<br />event shall the maturity extend beyond
<br />.
<br />no
<br />the ultimate maturity of the note first described abov.
<br />In
<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
<br />performance of any of the 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
<br />indebtedness shall remain unpaid; and the Mortgagee
<br />shall have power to appoint any agent or agents it may desire for the
<br />purpose of renting the same and col-
<br />lecting the rents, revenues and income, and it may pay out of said incomes all necessary commissions and
<br />expenses incurred in renting and managing the same and
<br />of collecting rentals therefrom; the balance
<br />remaining, if any, to be applied toward the discharge of said mortgage indebtedness.
<br />'
<br />9. He /she will continuously maintain hazard insurance, of such type or types and amounts as
<br />Mortgagee may from time to time require, on the improvements
<br />now or hereafter on said premises and
<br />eceppt when Payment for all such premiums has theretofore been made under (a) of paragraph 2 hereof,
<br />due•ar>yYVremiums
<br />'
<br />therefor. Upon default thereof, Mortgagee
<br />rtgagee may Pay the same.
<br />Ali insurjmclb shall ber darded : in eoinpanies approved by the
<br />Mortgagee
<br />thereof shall`he,tieh! txg the Mp rtgagee and the policies and renewals
<br />form acceptable a the Mortgagee. m and have attached thereto loss payable clauses in favor of and in
<br />In event of loss Mortgagor
<br />Mortgagee,
<br />will give immediate notice by mail to the
<br />who may make proof of loss if not made promptly by Mortgagor, and each insurance company
<br />concerned is hereby authorized and directed s
<br />to make payment for such loss directly
<br />instead of to the Mortgagor and the Mortgagee jointly, and the
<br />the Mortgagee
<br />insurance proceeds, or any Part thereof,
<br />rtgagee at its option either to the reduction of the indebtednew hereby secured
<br />or to the restoration or repair of the property damaged. In
<br />event of foreclosure of this mortgage,
<br />of title to the mortgaged
<br />rtgaged Property in extinguishment of the indebtedness secured hereby an
<br />rat, title and interest of the Mortgagor in
<br />`
<br />and to an
<br />Purchaser or grantee. Y insurance policies then in force shall pass to the
<br />1,0. 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
<br />t
<br />all lease bonuses, profits, reve-
<br />nues, royalties, rights, and other benefits accruing to the Mortgagor under any and all oi! and gas leases
<br />now, or during the life of this mortgage,
<br />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 right
<br />mart Sage, and the Mortgagee in the conditions re
<br />this
<br />may demand, sue for and recover any such payments when due and pay-
<br />able, but shall not be required so to do. This assignment is to terminate
<br />release of this mortgage. and become null and void upon
<br />11. He /sha shall 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
<br />maintain, Mortgagee, at its option,
<br />may cause reasonable maintenance work to be
<br />therefor by Mortgagee shall bear interest tinftheoprinc
<br />at the rate provided for pal indebtedness, hall
<br />thereupon become a part of the indebtedness secured by this instrurnent, ratably and on a
<br />other indebtedness secured hereby,
<br />parity with all
<br />and shall be payable thirty (30) days after demand.
<br />12. if the premises, or any thereof,
<br />part 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
<br />such acquisition, to the
<br />'
<br />consideration for
<br />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,
<br />applied on account of the last
<br />to be
<br />maturing installments of such indebtedness.
<br />13. If the Mortgagor fails to make
<br />any payments when due, or to conform to and comply with any
<br />of the conditions or agreements contained in this mortgage, or the notes which it
<br />entire principal sum and
<br />secures, then the
<br />accrued interest shall at once become due and payable, at the election of the
<br />Mortgagee; and this mortgage may thereupon be foreclosed immediately
<br />for the whole of the indebted-
<br />ness hereby secured• including the cost of extending the abstract of title from the date of this most-
<br />gage to the time of commencing such suit, a reasonable
<br />attorney's fee, and any sums paid by the Veterans
<br />Administration on account of the guaranty or insurance of the indebtedness secured hereby, all of which
<br />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,
<br />such Title and Regulations issued thereunder and in effect on the dale hereof shall
<br />and liabilities of the
<br />govern the rights, duties
<br />parties hereto, and any provisions of this or other instruments executed in connection
<br />with said indebtedness which are inconsistent
<br />cr»hform thereto.
<br />with said Title or Regulations are hereby amended to
<br />The covenants herein contained shall hind, and the benefits and advantages shall inure to, the
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