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86-- 106641
<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 />?- 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 purliose 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 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 towaed 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, re%critics and income, and it may pay out of said incomes all necessary commissions and
<br />expenses incurred an 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. collateral security for the payment of the note described, and all sums to become
<br />due under this mortgage, t1w Mortgagor hereby assigns to the Mortgagee all lease bonuses, profits, reve-
<br />nues, royalties, rights, a:nd other benefits accruing to tile mortgagor under any and all oil and gas leases
<br />now, or during the life of this mortgage, executer! on said premises, with the right to receive and receipt
<br />for the sane: and apph th, -m to said, indebtedness as well before as after default in the conditions of this
<br />mortgage, and the Sir,rtg: +g•. «r may demand, sue for and recover any such payments when due and pay -
<br />able, but siiall 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, rcasonal;le %. -,ear and tear excepted. Upon any failure to so maintain, Mortgagee, at its option,
<br />may cause reascetr..i,;e nun =ae Hance tvo•k to be performed at the cost of Mortgagor. Any amounts paid
<br />therefor by % Mortgaee shall bean- interest at the rate provided for in the principal indebtedness, shall
<br />thereupon here+trre a Dart of the indebtedness secured by this instrument, ratably and on a parity with all
<br />other indebtednr;tis secured hereby, and shall be payable ty (30) days after demand.
<br />12. if the premi =es. or any part thereof, be condemned under the power of eminent domain, or
<br />acquired for a publar use, The damages awarded, the proceeds for the taking of, or the consideration for
<br />such acquisition. to the ext, nt of the full amount of the remaining unpaid indebtedness secured by this
<br />mortgage, or hel -01v assigned to the mortgagee. and shall be paid forthwith to said mortgagee, to be
<br />applied on account „f Oho last maturing ir,.stallments of such indebtedness.
<br />13. if the Mot _gages fails to make ariv paynictrts when due, or to conform to and comply with any
<br />of the conditions err agreements contained in this mortgage, of- the notes which it secures, then the
<br />entue principal sun. ruifi accriwdl interest shall at once become due and payable, at the election of the
<br />Ml rtgage,; anri this m"'rtgaige may thereupon be foreclosed immediate) for the tichole of the indebted-
<br />ness hereby svcuv-:,d. ;ti =.ading the cost of ,�xtending the abstract of title :`rant the date of this mot -
<br />gage to the time <,f c anin- r.eing such suit., a reasonable attorney's fee, and any sums paid by the Veterans
<br />Administration „n aV ,>u11' of tl:e guaranty or insurance of the indebtedness secured hereby, all of which
<br />shall be inOudecl in the decree of ton - closure.
<br />14- If the indebtedness se,•ured hereby be guaranteed or insured under 'Title 38, United States Code,
<br />such 1 iUe "Ind liege l {tons r +n i thereunder and rn, f1 : ct on th,' ,iate h reof'shall govern the rights, duties
<br />stn +l Ii,Lhihrr • of th laa :s e ct>. uHi any pr ,yr�ionso+ t;;i> w. other rustrumentsexoented in connection
<br />se�it.i "461 ,r. <lehtel,.r._ .vhWh are ir- e,_nsistera with said Title or Regulations are Hereby amended to
<br />cue =ri wen I hW U011.
<br />Thy , _ ^n.art h wrern . W;xrr 'd _ghali band, and the benefits and Advantages shall Inure , tfu
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