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85- 000292
<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 />1 for in the principal indebtedness.
<br />1 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 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 />ii. 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. 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 premier and
<br />except when payment for all such premiums has theretofore been wade under 1a) of paragraph 2 hereof,
<br />will pay promptly when due any premiums therefor. Upon default thereof, Mortgagee may patty 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. `,13 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 pFw to the
<br />purchaser or grantee.
<br />1.0. As additional and collateral security for the payment of the note described, and all sums to become
<br />due under this mortgage. the Mortgagor hereby assigns to the Mortgagee all lease bonuses, 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, with the right to receive and receipt
<br />for the same and apply them to said indebtedness as well before as after default in the conditions of this
<br />mortgage. and t!ie Mortgagee may demand, sue for and recover any such payments when due and pay-
<br />able, but shall not 1w 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, reasonable wear and tear excepted. upon any failure to so maintain, Mortgagee, at its or :io,a.
<br />may° cause reasonahlo maintenance work to be performed at the cost of Mortgagor. Any amounts paid
<br />therefor by Mortgapcv shall hear interest at the rate provided for in the principal indebtedness, shall
<br />theretpon hccome a part of the indebtedness secured by this instrument, r•atabh• and on a parity with all
<br />other indebtedness secured hereby, and shall be payable thirty- (30) days after demand.
<br />12. If the premises, or any part thereof, be condemned under the po%%-er of eminent domain, or
<br />acquired for a public ttse, the damages awarded, the proceeds for the taking of, or the consideration for
<br />such acquisition, to the extent of the full amount of the remaining unpaid indebtedness secured by this
<br />ntortgaage, or hereby assigner) to the Mortgagee, and shall Ix- paid f(:rthwith to said Mortgagee, to lx,
<br />applied on account ot• the last maturing installments of such indebtedness.
<br />13. If the llerrtKagor Pails to make anv payments when due, or to corlt' rrtt to and comply ss ith any
<br />of the conditions or agreements contained in this mortgage, or the uotc.e X4;,.It it secures, them the
<br />er:tire principal sum ;in(] accrued interest shall at once becorne due and payable. ;at flit, electitrn of the
<br />NTi,rtgager!; and this inortgatge may thereupon be foreclosed immediately for the whole of the indebted -
<br />ness hereby - A -rtnd, itchnding the cost of extending the :abstract of title ft "Ill ?ht, dab, of this mort.
<br />gage. to the time of cotmnencing such suit, a reasonable attorney's fee, atul any ,,ruts:: pail I >y the Veterans
<br />Administration on account of the guaranty nr insurance of the indehG�+lnc.4s °rnrcd hereby, all of which
<br />shall be included in the decree of foreelosuro.
<br />11. If they indebtedness morured ttoroh,V °na, guarantcc,I "I rrt!4111 '_A under 1`014 'S, l'nited states Code, �)
<br />such Title and Re^gttlatetanar imsued thereunder and to.�f vcl (m th.. iasc I, „r, of r"occrn the rigills, dwitw,
<br />,Intl liabilities of the imrties h vreto. and any provisions oQ' tt;iw ..r nritrr lust runaenrs co. noted in ronnra Qi"n
<br />with said indehtednenK which are inroltsistent with 'said Tith. it. I,egat lilt ww”. are herrbv .untend.ad to �
<br />conform thereto.
<br />,, tr:verraant_+- hervin coatsinefl shall loud, And the ifenelit:; sari ;rate,antngcy �hat11 !mare to. thv
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