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<br />86.. 1069-88
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<br />6. If he/she fails to pay any sum or keep any covenant provided for in this mortgage, the Mortgag ee, at
<br />;_.
<br />its option, may pay or perform the same, and all expenditures so made shall be added to the principal sum
<br />bear interest until paid at the rate provided
<br />owing on the above note, shall be secured hereby, and shall
<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 />and for any other purpose elsewhere authorized hereunder. Said note or notes shall be secured
<br />same,
<br />hereby a nyith and as fully as if the advance evidenced thereby were included in the note first
<br />on parity
<br />described above. Said supplemental note or notes shall bear interest at the rate provided for in the prin-
<br />indebtedness and shall be payable in approximately equal monthly payments for such period as may
<br />cipal
<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 />during such time as the mortgage indebtedness shall remain unpaid; and the Mortgagee
<br />gaged premises
<br />have po%ver to appoint any agent or agents it may desire for the purpose of renting the same and col-
<br />shall
<br />lecting the rents. r•venucs and income, and it may pay out of said incomes all necessary commissions and
<br />incurred in renting anci managing the same and of collecting rentals therefrom; the balance
<br />expenses
<br />remaiting, if any, to he applied to ward 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 i Wbi -P ly by Mortgagor, and each insurance company
<br />concerned is hereby authorized and direleted to, 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 adrlitirma! an,i c „ltateral security for the payment of tine note described, and all sums to become
<br />due under this mortgag.” the Mortgagor hereby assigns to the Mortgagee all lease bonuses, profits, reve-
<br />royalties, rights, :tttd other benefits accruing to the Mortgagor under any and all oil and gas leases
<br />nues,
<br />note, or duru+g the Iiie of this mortgage, executed on said premises, with the right to receive and receipt
<br />for the same and apply tin m to said indebtedness as yell before as after default in the conditions of this
<br />ti" M,Mgogef, may demand. sue for and recover any such payments when due and pay -
<br />mortgage, and
<br />shall not be i eyut+ 4 d so to del. This assignment is to terminate arid become null and void upon
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<br />abb ,but
<br />rc•k•asc of this mortgat. *e.
<br />11. He /she shall not commit or permit waste; and shall maintain the property in as good condition as at
<br />reasonahi • `,.u' and tear excepted. Upon any failure to so maintain, Mortgagee, at its option,
<br />presettt,
<br />nututtouance work to be performed at the cost of Mortgagor. any amounts paid
<br />may cause realonat44
<br />therefor by Mortga) shall hoar interest at the rate provided for in the principal indebtedness, shall
<br />thereupon hcc,xne a part ••f the indebtedness secured by this instrument, ratably and on a parity with all
<br />other indrbtedues; s•curod hert-by, and shall be payable thirty (30) clay's after demand.
<br />12. If the premises, or any part thereof, lie condemned uncle: the power of eminent domain, or
<br />for ;n I,ulnc� use, the damages awarded, the proceeds for the taking of, or the consideration for
<br />ac,luired
<br />to the eat, tit of the full amount of the remaining unpaid indebtedness secured by this
<br />such acquisition,
<br />hereby assigned to ;he Mortgagee, and shall be paid forthwith to said Mortgagee, to be
<br />mortgage, ,:r
<br />applied on account of till• last maturing installments of such indebtedness.
<br />13. If tilt, Mortgagor f; +:ls to make anv payments when due. or to conform to and oomph with any
<br />of the conditiona or agrecnu•nts contained in this mortgage, or tilt- notes aOhic•h it secures, then the
<br />entire principal sum an,I accrued interc.',t shall at once become dine and payable, at the election of the
<br />\Lntgagee: an.l this nuntgage may thereupon be foreclosed immediately for the %% hole of the indebted-
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<br />hereby set ur. i, inrhtdiug the cost of extending the abstract of title from the date of this mort-
<br />ne„
<br />gage to the tinm of , .nnrnoncing such suit. a reasonable attorrner's fee, and any sums paid by the Veterans
<br />Administration on a, . ournt of the guaranty or insurance of the indt-bteduoss secured hereby, all of which
<br />shall be included in the dect'ee of foreclosure.
<br />11. If the indebtedness secured hereby be guar;utteed or utsurrd under Title 3K, I'nited States Code.
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<br />such '1'ttl,• an <I I:eg,tlaliuns issued thereuti.lw• ;tnd m ctl* . t on th.• .fate her, -ol• shall govern the rights, duties
<br />;uu1 habrhti.•.s of the parties h.'1-eto, and :try- 1)1-41\ isu.ns of il.is or other mstrutnrnts executed in c•ottnection
<br />.4th s:od ntdel.tednes %rhich are inconsistent ,W11 s:ud Title or Regulations are hereby amended to
<br />,..nft.+,in tlieref,..
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