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86--- 102833
<br />6. If he 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 />F(' for in the principal indebtedness.
<br />7. Upon request of the Mortgagee, Mortgagor shall execute and deliver it 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 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.
<br />S. He 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 :my 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 will continuously maintain hazard insurance, of such type or types and amoumts as Mortgagee
<br />may from time to time require, on the improvements now or hereafter on said premises and except when
<br />payment for all such premiums has theretofore been made under (a) of paragraph 2 hereof, will pay
<br />promptly when due any premiums therefor. Upon default thereof, Mortgagee may pay the same. All
<br />insurance shall be carried in companies approved by the Mortgagee and the policies and renewals thereof
<br />shall be held by the Mortgagee and have attached thereto loss payable clauses in favor- of and in form
<br />acceptable to the Mortgagee. In event of loss Mortgagor will give immediate notice by mail to the Mort-
<br />gagee, who may make proof of loss if not made promptly by :Mortgagor, and each insurance company con-
<br />cerned is hereby authorized and directed to make payment for such loss directly to the :Mortgagee instead
<br />of to the Mortgagor and the Jortgagee 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 *he property damaged. In event of foreclosure of this mortgage, or other
<br />transfer of title to the nwrtgaged property in extinguishment of the indebtedness secured hereby, all
<br />right, title and interest- of tilt, Mortgagor in and to ,illy 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 doin -d, an-1 all Burns to become
<br />due under this mortgage, th,, Niortgagorher'ebyassigns to the Mortgagee all lease bonuses, profits, reve-
<br />nues, royalties, rights, and other benefits accruing to the 3ortgagor under any anti all oil and gas leases
<br />now, or during the life of this mortgage, executed un said premises, v. ith the right to receive and receipt
<br />for the same and apply them to said indebtedness as ell before as after default in the conditions of this
<br />mortgage, and the :Mortgagee may demand, sue for and recover any sucdi payments when due and pay-
<br />able, but shall not be requirt•d so to do. This assignment is to terminate and become null and void opal
<br />release of this mortgage.
<br />11. He shall not commit or permit waste; and shall maintain the property in as good condition as at
<br />present, reasonable ,rear auid tear excepted. Upon any failure to so maintain. ]lortgagee, it its option,
<br />may cause reasoriabie rrraint,rnance work to be performed at the cost of Mortgagor- Any arnounts paid
<br />therefor by Murtgagee shall bear interest at the rate provided for in the principal indebtedness, shall
<br />thereupon become a part of the indebtedness secured by this instrument, ratably and on a parity with all
<br />other indebtedness hereby, and shall be payable thil•ty (3o) days after dernand.
<br />12. If the premises, or any part thereof, be condemned under the poser of eminent domain, or
<br />acquired for a pubh,, use. the damages awarded, the pruceeds LIT: the taking of, or the consideration for
<br />such acquisition, to th, extent of the full amount of the remaining unpaid tndelitedness secured by this
<br />mortgage, or her•ebv assigned to the Mortgagee, and shall be paid forth,rrth to said tlurtgagee, to be
<br />applied on account of the last rnaturittg installments of such indebtedness.
<br />13. If file 3lort,4agor fails to make any payments when due, or to contnrm to and comply with any
<br />of the conditions or sgrt•.ments contained in this mortgage, or the notes „hrch it srctn•rs, then the
<br />entire principal sum and accrued interest shall at once become due aaei pa,tablc�. at the election of the
<br />Mcr•tgagee: acrd this mortgage may thereupon be foreclosed immectiateh• for the ,hole of the indebted-
<br />ness hcreb>, e, ill "d, uc It. dn g the cost of ,•xt"nding the abstract of tit -le from the date of this mort-
<br />gage to the tarn of ,rnrns:c iitg such .suit, a ri- tsonable att,rrnev.s fee. and :ni} .um, ,raid III thy, Veterans
<br />Administration dire .ce -ur,t of the guaranty or isuranc„ of the nidrbt. dncs „•, ur, d h.. -n h", all of which
<br />shall be included in the decn4, of foreclosure.
<br />iii. If the ini -A)tMl uss secure.: hctebv lot, Kola ,a It_.d 11 r d rni u r 'title ;�. 1'nrttd StaG r od<.
<br />Lsue h 'title runt (.egul� nrr i o,:•1 thereunder nd In <,tfc', t qj a'c' hrr, t sd'all goc,'rn Ow rights, dut,•s
<br />and uabdlit 5 of the (�ar'ttrs h tetc .tnd any pruc,�.on., �„ tln� �.� „tiz., >i.tr, :m• ?, tried m eont;e+ trt,n
<br />.c !h paid Mdebtedres ieh cr are. inconsistelit ,.ith aid I!i!" or P,r .,.
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