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4iu— 103'70 n
<br />B. 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 />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 tares 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 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 :illy 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 he applied toward the discharge of said mortgage indebtedness.
<br />9. He will continuously maintain hazard insurance, of such type or types and amounts as Mortgagee
<br />may from time to time reouire, 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 Aortgagee. 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 Mortgagee jointly, and the insurance proceeds, or any part thereof,
<br />may be applied by the Mortgagee at its option Pither to the reduction of the indebtedness hereby secured
<br />or• to the f title toll or repair of the pro: erty damage=s ;. 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 ;nterrst t,f the yortgagor in and to any insurance policies thon in force shall pass to the
<br />purchaser or grantee.
<br />10. As additional alyd ot,llateral security rot• the payment (7f the nuts,lescrilx•d. aril :111 sums to become
<br />due under this mortgage, tilt, Nlortxagor hereby assigns to the Mortgagee sll lease bonuses, profits, revs
<br />nuts, !royalties, rights, and other benefits accruing to the Mortgagor under :ui5' and all oil and gas leases
<br />now, or during the life of this mortgage, executed on said prvinises, 1t ith the right to receive in(] receipt
<br />for the -ante and apply the -m to said indebtedness as well before as after default in the conditions of this
<br />mortgage, and the Mortgagee play demand, sue for ant[ recover any such pawinents when title and pay-
<br />able, but shall not be requirtrd so-) to do. This assignment is to terminate and IJecurne null and Void upon
<br />release of this mortgage.
<br />11. He shall tint cnmmet t,r pernnt waste; and shall maintain the property in as good condition as at
<br />present, reasonable =.wear and tear excepted. I?pon any failure to so maintain, Mortgagee, at its option,
<br />may cause reasonable main=tenance work to be performed at the cost of Mortgagor. Any amounts paid
<br />therefor• by Mortgagee shall bear interest at the rate provuied for in the principal indebtedness, shall
<br />thereupon become a part of the itulebtedni•ss secured by this instrument, ratalii5' anti on a parity With al!
<br />other indebtedness secured hereby, au «:1 shall be payable thirty (:30) days after demand.
<br />12. If the Premises, or any part thereof, 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 consideration for
<br />such acquisition, to the extent of the full amount of the remaining unpaid indebtedness seeured by this
<br />mortgage, or hereby assigned to the Mortgagee, and shall be paid forthwith to swirl Aortgagee, to be
<br />applied on account of the last maturing installments of such indebtedness.
<br />13. If the Aoitgagor fails to make any payments when due, or to conform to and comply with any
<br />of the conditions or agreements contairied in this mortgage, or the notes which it secures, then the
<br />entire prircipal sum and accrued :nterest shail at once: become (tile and payable, at the election of the
<br />Mortgagee; and this mortgage may thereupevl be foreclosed immediately for
<br />nexs hereby u•cured. including the cove the ahoie of the indehted-
<br />ng te astract of title from the date of this nwrt-
<br />gage to the time of commencing such snit, a rea Doable attorney's fee, and an} tiums paid bV the Veterans
<br />Administration on at,' punt (if' the guaranty or insurance of the indebtedness secured herwhy, all of which
<br />shall be included in the decree of foreciosure.
<br />1.1, If the indebtedness secut,•(i hereby be guarantil "i �'l u,suro,l under Title :iii. United States (`tide.
<br />such Title and Regulations issued thereunder and In etret t „r, tier Litt, hereof shall go1e1'n tilt, rights, dune's
<br />and liabilities (tf the parties hereto, and any pr =rwi, :ora of t': ,.1 ,tiler ttistruille litK exeeilted :ri t't n1rU wiU li
<br />with said Indebtedness which are mronsisterlt 141,11 o eaid 1,11141 rt' t :Pg1J I :tU„I7s are ht•t'rl,y atnendeal It,,
<br />c'inform theret.
<br />The covenants hrr, ^rl r(rnt.a :ned shaii and tilt• iK,rwtit_s and adwalltag,•s :;rail ,i ru•• to. if!.
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