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86- 104168
<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 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 he 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 an y 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 require, 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 coIlateraI 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 tilt life of this mortgage, executed on said premises, with the right to receive and receipt
<br />for the same and apple tuvm to said indebtedness as well before as after default in the conditions of this
<br />mortgage, and the )fill tgagee may demand, sue: for and recover any such payments when due and pay-
<br />able, but shall not he 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 />present, reasonaiiie rear and tear excepted. upon any failure to so maintain. Mortgagee, at its option,
<br />may cause reason:ibh, maintenance work to be performed at the cost of Mortgagor. Any amounts paid
<br />therefor be Ivlortga;,ee sLali lwitr interest at the rate pro6de•d for in the principal indebtedness, shall
<br />thereupon 111•'01110 a part of the indebtedness secured by this instrument. ratahl,. and on a parity with all
<br />othtre• indebtedness secured hereby, and shall be payable thirty (30) clays aftot• demand.
<br />12. If the premises, or :uiy p;urt 'thereof, be conder inod ur.tler the powvi of eminent domain, or
<br />acquired for a public use. I'10 ,i.,:nagcs 10carded, the pro, et�ds for the taking of, or the consideration for
<br />such acquisition, io the extent of the full amount of the rtanaining unpaid indebtedness secured by this
<br />mortgage, or her-b\- assign.'d to the Mortgagee, and shall he paid forth%%ith to said Mortgagee, to be
<br />applied on account, of the last maturing instailments of such indebtedness.
<br />13. if tl:e llorigagw I't:lls to make. ativ payments .then due, or to conf'„rm to and cornply with any
<br />of the conditions 'o. agre. au nts contained in this m..rtgage, t,r th;• notris it tiecnrt =s, then the
<br />entire principal '11111 an.i ac•cr!n.d interest shall :it once It,•,-nrw due amt pad' ibl., at the eh•rtion of the
<br />�l<rrtgagce; and ih!' mac tlu•roupnn he foredoseil imnu•diatoic for the uheL of the indebted -
<br />t;c s hrrcl,•, ci a .• I, kit ill!v Ow t .0 , vtolA:Tl g the abstract of title fr, nt the .late of this mort-
<br />gage to the'11n<• ,r' c „trtsut „icing <w h .9uit, it ma,onahi ft e• iinti ;kw, >unts pad t,; tit t'. terans
<br />Adinintstratimi •,it ;t.. t +unt . .h -• ter n <in.an c . ` t c Indel. it,t” >. tut. ti 1 . ,. ot_ all or %%hirh
<br />Shall be inclu<it”! in the -lecr"e ,.f rnr.-clvsurc.
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