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86-, 105796
<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 rote 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 bc- 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 />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 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 ally, 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 _Vyent 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 ami , ollateral security for the payment of the note described, and all sums to become
<br />due under this mortk::gt•, Ow Nlurtgigoi- hereby assigns to the Mortgagee all lease bom►ses, 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 the life of this mortgage, executed on said premises..vith the right to receive and receipt
<br />for the same and apple them to said indebtedness as well before as after default in the conditions of this
<br />mortgage, and the .lb.ogagee may demand, sue for and recover any such payments when due and pay-
<br />able, but ,ball not be re,luii.,i sit 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, reasonable near and tear excepted. Upon any failure to so maintain, Mortgagee, at its option,
<br />may cause reasumrbb• rnairtt,•nance wo.-k to be performed at the cost of Mortgagor. Any amounts paid
<br />therefor by Mortgar;ce shall Dear interest at the rate provided for in the principal indebtedness, shall
<br />thereupon become a part of the indebtedness secured by this instrument, ratably and on a parity with all
<br />other indebtedness secured hereby, and shall be payable thirty (30) days after demand.
<br />12. if the prenuscs, or any part thereof, be condemned Under the power of eminent domain, or
<br />acquired for a public use, tit(- damages awarded, the proceeds for the taking of, or the consideration for
<br />such acquisition, to the e itrllt of the full amount of the remaining unpaid indebtedness secured by this
<br />mortgage, or hereby N. assigned to the Mortgage forthwith and shali be paid forth ith to said Mortgagee, to be
<br />applied on account of the last maturing installments of such indebtedness.
<br />la. If the 1h,rtKag,.r falls to make anv payments when due, or to conform to and comply with any
<br />of the condition .>r agmcments contained to this mortgage, ur the notes which it secures, then the
<br />entire principal ,Ltrll an.l accrued inh•rest shall at once become due and payable, at the election of the
<br />M..ertgagee: and this rt.,otgage mac thereupon be foreclosed immediatel for the «hole of the indebted -
<br />m•;s he•rc•lty se, uf,•d. ;u, ludiug the , o,t of e%t,•mling the abstract of title from the date of this mort-
<br />gage to the tiro,- :d, -mmwne tog sue h suit, a reasonable attorney's f,•e• and ally ..urn, paid by the Veterans
<br />Administration on t„ mutt of the guaranty or insurance of the ntdebtodness s,rured her,-by. all of which
<br />shall be included in the ,leoree of foreckisurc•.
<br />H. If the indebt,dness secured her•,•by be• guaraiii •vd ei ins rn d under 'Pith, 3!t. United States Code,
<br />L ,tech Title std Regulations tssiwd thereunder and to ei1,•, t th,• date h,•r,•of ,hall gow•rn the rights. Buttes
<br />rand Itahiltio s of the parti.•.s h, ret•., and arty pro%t,u,ns ..t tIti...r other nt.trurneuts executed in connection
<br />.+i?h laud [,I,h :ur in,nnsistent %%itIt Said 'I'll If. ,.r I.egulatt ns are hereby autxnded to
<br />. "ofnrn. theret+:
<br />Tit,- .o,roant, !n r,•,n ,ontauu•d ,hail hind. and iii,• 1-ii, nt. and alt :uitages shall inure to, th.•
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