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86-- 102282)
<br />6. If he /she fails to pay any sum or keep any covenant provided for in this mortgage, the Mortgagee, at
<br />its option, may pay or 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.
<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 for the alteration, modernization, or improvement made at
<br />the Mortgagor'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 parity with and as fully as if the advance evidenced thereby were included in the note first
<br />described above. Said supplemental note or notes shall bear interest at the rate provided for in the prin-
<br />cipal indebtedness and shall he payable in approximately equal monthly payments for such period as may
<br />be agreed upon by the Mortgagee and Mortgagor. Failing to agree on tile, 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.
<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 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 pay out of said incomes all necessary commissions and
<br />expenses incurred in renting and managing the same and of collecting rentals therefrom; the balance
<br />remaining, if any, to be applied toward the discharge of said mortgage indebtedness.
<br />9. He /she will continuously maintain hazard insurance, of such type or types and amounts as
<br />Mortgagee may from time to time requite, on the improvements now or hereafter on said premises and
<br />except when payment for all such premiums has theretofore been made under (a) 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 carried in companies approved by the Mortgagee and the policies and renewals
<br />thereof shall be held by the Mortgagee and have attached thereto loss payable clauses in favor of and in
<br />form acceptable to the Mortgagee. In event of loss Mortgagor will give immediate notice by mail to the
<br />Mortgagee, who may make proof of loss if not made promptly by Mortgagor, and each insurance company
<br />concerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee
<br />instead of to the Mortgagor 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 indebtedness hereby secured
<br />or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage, or other
<br />transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all
<br />right, title and interest of the Mortgagor in and to any insurance policies then in force shall pass to the
<br />purchaser or grantee.
<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 tine 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 - Mortgaged may demand, sue for and recover• any such payrrrents when due and pay-
<br />able, but shall not be required so to do. This assignment is to ternlinate and become null and void upon
<br />release of this mortgage.
<br />11. He /she 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 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 principai indebtedness, shall
<br />thereupon become a part of ttre indebtedness secured by this instrument, ratabl and on a parity with all
<br />other indebtedness secured hereby, and shall be payable thirty (30) days after demand.
<br />12. If the premises, or any part thereof, be condemned under the poker of etninent domain, or
<br />acquired for a public use, till' damages awarded, the proceeds for the taking of, or the consideration for
<br />such acquisition, to the cm( lit of the full amount of the remaining unpaid indebtedness secured by this
<br />mortgage, or heretic assigned to the Mortgagee, and shall be paid forthwith to said Mortgagee, to be
<br />applied on account of the last. maturing installments of such indebtedness,
<br />lei. If the tlortgug „r I';tlls to make any payments when due, or to conform to and comply with any
<br />of the conditions ur aLgrevnwnts contannod ill this mortgago, or the notes Mlieh it secures, then the
<br />, mire principal sum and accrued ':Merest shall at once become due and pa)ahh', at the clecti,or of the
<br />Mortgagee; and this tr11rrtgag;• may thereupon be foreclosed immediately for iho whole of the indobted-
<br />ncss y .ecurod, Ilicluriiriv the cost l,t' extending the abstract of title front the date of this nuirt-
<br />gage to the ti►nc of c„num acing su, It suit, a reasonable attorney's fc•e, turd ;tn� sums paid h� the Veterans
<br />Administration on m, ,cunt ..f tilt, guaranty ur insurance �, -,I' the indel,t, ,h:, s. _.,, ured hen hy, ail of which
<br />shall the included Ill file d,.,cre,• of foreclosure.
<br />1 -1. if t:he indebttdn,, secured h,'rehy he gnaraoteed "r in,ur,•,I ntder Tith. boiled `;t rt, s
<br />;uch I rile and iteKul:ttinnti I,sutd t9 •+« ondrr tt1,l io , L I , I ,.n tlI, i.,!r I r t t g I,,, t, t h, : I lit 'i,;i, :,
<br />tn;i Ii ►tstIit14: of th +, it +r t ca In r, t ,1111 1 tn5' In•ut ion .f thi; ,r ,lhl�t ui r urn nt .•\„ utG•d `n rmr rti,,;, ��
<br />.ill said indebtedness 1,w, l :rro, inew4i"t 0 whit 4ai,I I I „r Iwpollatinn., :,re
<br />;ill n, .u,•.I
<br />onftnrn thereto
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<br />11. «• ,„cronr,t,. to , ,htn�: „"i .h:el! hni,l, and th,• Ia,•,r,(it; ;wd r„h.a:!t,,},, �,• r„ h, k„
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