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8 86, 103010
<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 />on the above note, shall be secured hereby, and shall bear interest until paid at the rate provided
<br />owing
<br />for in the principal indebtedness.
<br />7. Upon request of the Mortgagee, Mortgagor shall execute and deliver a supplemental note notes
<br />m
<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 />Said or notes shall be secured
<br />same, and for any other purpose elsewhere authorized hereunder. note
<br />thereby were included in the note first
<br />hereby on a parity with and as fully as if the advance evidenced
<br />Said note or notes shall bear interest at the rate provided for in the prin-
<br />described above. supplemental
<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 />In
<br />or sums so advanced shall be due and payable thirty (30) days after demand by the Mortgagee. no
<br />event shall the maturity extend beyond the ultimate maturity of the note first described above.
<br />He /she hereby assigns, transfers and seta over to the Mortgagee, to be applied toward the payment of
<br />8.
<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 />premises during such time ^_s the mortgage indebtedness shall remain unpaid; and the Mortgagee
<br />gaged
<br />have power to appoint arty agent or agents it may desire for the purpose of renting the same and col-
<br />shall
<br />lecting the rents, revenues and income, and it may pay out of said incomes all necessary commissions and
<br />exinnses incurred in renting and managing the same and of collecting rentals therefrom; the balance
<br />remaining, if any, to 1x1 applied toward the discharge of said mortgage indebtedness.
<br />9. He /she will continuously aintain hazard insurance, of such type or types and amounts as
<br />m
<br />on the improvements now or hereafter on said premises and
<br />Mortgagee may from time to time require,
<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 />APF
<br />concerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee
<br />r
<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 />ti
<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, rove -
<br />royalties, rights, and other benefits accruing to the Mortgagor unde< any and all oil and gas leases
<br />a
<br />nues,
<br />Ol' during trle htl' of 111E mOl'tKage, executed on said premises, With file fight to receive and receipt
<br />Il0 \�,
<br />for the same and apple them to said indebtedness as well before is 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 />�..
<br />able, but shall not be required so to do. This assignment is to terminate 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 />reasonable Wear and tear excepted. Upon any failure to so maintain, Mortgagee, at its option,
<br />present,
<br />may cause reasonable maintenance work to be performed at the cost of Mortgagor. Any amounts paid
<br />therefor by Mottgagee. shall bear iuterest at the rate provided for in the principal indebtedness, shall
<br />thereupon become a part of tale indebtedness secured by this instrument, ratably and an a parity %%ith all
<br />other indebtedness secured hea•eby, and shall be payable thirty (30) days after demand.
<br />12. If the prenl; <e,, tn- any part thereof, be condemned under the power of enlinent domain, or
<br />acquired for a public use, the damages awarded, the proceeds fur the taking of, or the consideration for
<br />such acquisition. to the etitoit of the full amount of file remaining unpaid indebtedness secured by this
<br />mortgage, or hereby assignees to the Mortgagee, and shall be paid forthwith to said Mortgageo, to be
<br />apphell on account of the last maturing installments of such indebtedness.
<br />13. If tale Mortgagor falls to make any payments when due, or to conform to and comply with any
<br />of the conditions o' agl_,rlellts contained in this mortgage, of the notes %%hick it secures, then the
<br />entire principal slnn awl at, riled Interest shall at once become due and payabh•, at the election of the
<br />Nt,!rtgaget.; and thi., ill ^Itgage may thereulxul be foreclosed immediately for the \%hole of the indebted-
<br />ness hereby srurrd, v..111dilig 1114' cost of vXtending the abstract of title front the date of this mort-
<br />gage to t,hav, timt• of cannlc clog such suit, a reasonable attorney's fee. and an sunis paid b�. the Veterans
<br />Administration ot1 me aunt cif ale guaranty or inst. ance of the indebtednes, se ui e d Hereby, all of which
<br />shall be included in the decree of foreclosure.
<br />td. If the indebt(siness S..lcured hereby M' guaranteed or insured under 'T'itle :3S• I Inited States Code.
<br />such Tabl and. ftvgulationti 1 =.sued thereunder and In rirect on tilt, date il"n of .halt gelve rn the rights. dui It's
<br />and habllities of the partu•s hereto, and any pro%1 ?,ions of tie, r.r either i list ruilu-Ills e \e•cllted In connrcUnn
<br />with said indebtt *daces wille'li are int- misistent with 'ald title ,or- Regulations are hvre'b\' alllendt'd t4)
<br />.
<br />tw1forill the.rete?.
<br />•I'he cwt .ttivkt� he'I'etn collulilw.l Flail bind, and till' be'tieilts arld 11,1%tmAfr,: sliali It;tl1'e te), file'
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