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gg.-., 105424
<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 be clue 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 pourer to appoint an} 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 /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 los: 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 amt , ollateral security for t he payment of the note described, and all sums to become
<br />clue under this mortgage, tit,- Mortgagor hereby assigns to the Mortgagee all (case bonuses, profits, reve-
<br />nues, royalties, rights, an:i other benefits accruing to the Mortgagor under any and all oil and gas leases
<br />now, or during the hto of this mortgage, cxt'c•uted on said prerises, with the right to receive and receipt
<br />for the same and appl,\ tilt-"' to said indebtedness as well before as after default in the conditions of this
<br />mortgage, ar,d the 3lortgag,o may tlernand, suc for and recover- any such payments when due and pay -
<br />able, but shall not bt• required so to do. This assignment is to terminate and becorne null and void upon
<br />relca�sc 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, roasonahlo ,ear anti tear t'xcepted. t'pon any failure to so maintain, Mortgagee, at its option,
<br />mar cause reasonai l- !uair :t: fiance murk to ho performed at the cost of Mortgagor. Any amounts paid
<br />therefor bN Murtgagee shall hoar interest at tho rate provided for in tine principal indebtedness, shall
<br />thereupon hcconle a part of the ilidebtodnoss secured by this instrument, ratably and on a parity with all
<br />other- indebtedness -cured ht'reb•v, and shall bo payable thirty (30) days aft,•r demand.
<br />12. If the pre "':yes- oI- any part thereof, be condemned undt'r the porter of eminent domain, or
<br />acafuired for a public ust', Ow damages awarded, the pro- -is for tilt' taking of, or the consideration for
<br />such acquisition. to the t !, 'it of the full amount of till, remaining unpaid indebtedness secured by this
<br />mortgage, or hereh' ass!gnol to t.11e Mortgagee, and shall 1w paid forihm fill to said Mortgagee, to be
<br />applied on account „f tho 1a.-;t maturing inaailtnents of such indebttdruss.
<br />13. If tht - fails to nnakc nut payments whim due, or to r-ofornl to and comply with any
<br />Of the c,.nxl!tnm> Of agre:anonis contained u, tills mortgage, Or the out,•., tthuh it secures, then the
<br />entire princpal 'un:.u:d a,t rvod intt rest shall at Once berOnu• due Will )c!)ahlr, at the clection of the
<br />�l „rtf?aget'; and th;> uo r?gage 111a; ther,upon h!• fort'clost'tt for the t.holo of the indebted -
<br />m•ss horehv s, t „r. d, r!- lu,itng the coat Of r•"t. wling the abstratt of tale from the ,late Of this nu>rt-
<br />gage to the tiro, h suit, a rtasunahle attorno: s fo,r, ami :ur, .onus pa :d I,} the V"terans
<br />Adinimstratua; on a otutt ,.f trio guaranty nr :osurar.,, ul tilt' in,l, ht, ,ln,•.,.. >: , o:, d fits, by, all of which
<br />shall be rncludcd ,n the decree Of foreclosure.
<br />ILI. if the !nd<•htedn, s sorured hevri,y he guar-an,t",•,I l nndor Title iii, i'nrted States Cwfi,•,
<br />L ,uch T!tl.. and l:egui ttrons !;reed thou un lea ,Ind irt,'l:•s t wI t at, h. r, of shall gover!I 111c rights, ,iotie,
<br />aorS lrnluhto s ;,I Ili part:; !;,•rcto. sn:i .u,} },! ,"•:<,ns U! "ll !n r„TIti- t"01
<br />a:th w:o,i ,tulehtedness which ,ire in,i�n ��tont .trtic • :and 'h+Ile „r KegulatWns are lwlvhc amended h,
<br />,mfolrn theretr,
<br />T)!. ,.,.••r.;tt:t •.hail hilA. and ill, i -N. 111s Anil sdNant until,• t: t!,:
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