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86-- 104848
<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 Alortgagee 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 />& 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. lie /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 1a) of paragraph 2 hereof,
<br />will pay promptly when due any premiums therefor. Upon default thereof, Mortgagee may pay the same,
<br />-Ali insurance shall be carried m 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 net 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 />vr 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 />0 ' I As additional and collateral security for the payment of the note described, and all sums to become
<br />.
<br />due under this mortgage, the Mortgagor hereby assigns to the Mortgagee all lease bonuses, profits, reve-
<br />nues, royalties, rights, and other berefits accruing to the Mortgagor under any and all oil and gas leases
<br />now, or during the lift, of this mortgage; executed on said premises, with the right to receive and receipt
<br />for tht,, -same and apply them to said Indebtedness as well before as after default in the conditions of this
<br />mortgage, and the Mortgagee may durriand- sue for and recover, any such payments when due and pay-
<br />able, but shall not he ri-iiiiiii-cid sxj If, d— Iniis 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., reasonable wear and tear exe•titeti. Upon any failure to so maintain, Mortgagee, at its option,
<br />rray cause reasonable mai I) tena rice work to be performed at the cost of Mortgagor. Any amounts paid
<br />therefor by Mortgagee shall )x!ar interest at the rate provided) for in the principal indebtedness, shall
<br />thercuIX)II become .1 part of the indebtedness secured by this instrument, ratabIN and on a parity with all
<br />other Indebtedness li,"irod hereby, and shall be payable thirty (30) days after demand.
<br />I:-' It the premises, or any part tberevir, be condemned under the power of eminent domain, t)r
<br />aoluired for a pubic use, III, darnagv:i, awarded, the proceecis for the taking of, or the consideration for
<br />such acquisition, to the vxt,-tit of the full aincturit of the remaining unpaid indebti-Altiess securt-d by this
<br />inortgago. or hirehv iissig!wd to the Mortgag -aid forthwith to said Mortgagee, ce, and shall lie N ga ee, to be
<br />applied fill account If the la-StrIlatir, Mg irlIltAIIIII(IlItS of such indebttAnoss.
<br />13. If the Morgaitfir fhAs to make any ylaym•nts --vhrri due, or to ouffoi-m to and comply With any
<br />of the rc,wlitiorts or agi-ti:rrients citntained in this mortgage, or the ootc5 wilwh it secures, then the
<br />vi tyre: principal surn awl accrued inten.-st shall at 'MC(I 1p•,ainlii, due Itild pa)abje', at the elvetinn of thY
<br />Mortgague-. anii trays Tm,T-IgAJte may t• fir(!PJosi:iti inirtit-diatuil for this it hwe of the indebted-
<br />tlero, huri,J)y iti, - WOM)t th, An", of vxtf,!I+iing thlr al-J3Ll'A0, 'If ',I'll' If"M file liatt! Of this Mort-
<br />g,agk- to tilt, lini"A'If suit, it reasm I atilt, 1,. aiid -o,Y urns paiti by the Veterans
<br />Adininistratiou on at,owit of thc guaranty or insurance., I',. tfie illlhibti-dtii,� 'i"Med lick "Ill, _, all of wll!O;
<br />shall be inellided it] tilt, decrrec- of forvfl.AlTsurv.
<br />14, if tho heitfily b--. guarank(ll fir lfi.4lll,"I nvili*=r 'riiii. :tlk, umtf,ft sirrt,,s i«•,
<br />-Awh I'Al"arvi Kextdatlons 1- ,qllvfl th"'reowler atm Ili,lf, 0 •rl 1;1,• -1:41f. iliall gw, lll 1, OW rights. (111ti,
<br />Plitt hiiibtillrt -x 4 Ibl, rlarlit,8 !,r 0o, at id an, Jlt;,; -,Sloj)s If , tfs q-
<br />Wllh Mlilit 01110'NAtlef4s Which are In,,I?1;IMfAlr "W id Title nr - are herel'i, alllielvi,-A
<br />- .P k l-ii it It I - it- t a I" l -, ot 0 ry ,s f-d zhutt if I T1, I, a rl d the, I - ! I f ',It 'A A i k , I Ad t It III IiJZ" 01411 inlets= 1! 1, tit,
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