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85- 000394
<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 he 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 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 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 descril)cd, anll 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 />note, 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 the Mortgagee may demand, site for and recover any such payments when Clue and pay-
<br />able, but shall not be required so to do. This assignment is to terminate and become null and void upolt
<br />release of this mortgage.
<br />11. He /ate 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 option,
<br />may eause reasonable maintenance work to be performed at the cost of Mortgagor. Any amounts paid
<br />therefor by Mortgagee shall bear interest at the rate provided for in the principal indebtedness, shall
<br />th(•reulnln become a part of the indebtedness secured by this instrument, ratabh anti on a parity with all
<br />other indebtedness secut•ed hereby, and shall be payable thirty (311) days after demand.
<br />12. if the prewni�vs, or ;ally` part thereof, be condemned under the power of eminent domain, or
<br />acquired for a public use, the damages awarded, the proceeds for the taking of, ter the consideratItIn for
<br />such acquisition, to the extent of the full amount of the remaining unpaid indebtedness secured by this
<br />mortgage, or hereby assigned to the Mortgagee, and shall be paid forthwith to wild Mortgagee, toll.'
<br />applied on account Lf tit(, last maturing installments of such indebtedness.
<br />1 :1, If the Nil,) tgagor fails to niakt, :ttiv payments when due, or to cool "will to and comply with ally
<br />of tilt• Iolldltiorl.; or agrl•rrrnvtts contained in this mortgage, or the notes ',Ohich it serm-l's, then till,
<br />F lit Ire print ipal runt and accrued IWrrr;at shall at once become Clue and paynbl." al the rlecitoll 4 tilt•
<br />gl,utgagec: and thin, In,•rtgage tnay thereupon be foreclosed immediately for Ow •f the indebted-
<br />n% h,veby S4.01 rod. �)Ithntillg the cost of t�xtenllillg the abstract of title from the .late ,.f this nirot-
<br />gage to lhtr time of ( .oummncm9 such suit, a reasomthlo attorney`';; fee, and ,tut :.unl: paid by till, 1'e1eralt"4
<br />Adillinistratioll nn ill. (ImIt it the guat'Itnty' 111' Insilr'alice I.f the Illtlt'btt'.dllrs:+ r.rr111,'d htLlrltl, all of 11'11 tell
<br />sltall fle inclivictd in the dcrroe of foreelnvurr.
<br />1't. if the Indel1tr11t1114 !ar t•II1'r(1 herohy ha` gllaYilnt.•,'d ,•I illtillt, d II11.I.`1 I rite• :l a, t'llite(I +titles Co.do,
<br />atilt Tit14' :111(1 R 11gl.11at 111111.4 iNKU •tl I hel'6•11 II(IfT lipid 1111'11 r. l nit tile• I;1I,, ht I t.l 'dl 111 r. 1.11 t h.' t IV Ili s,. Ill l lr'+
<br />liahllttiaa hereto,
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<br />id of the parties :Ind a11Y Ill octsions •,1 this .,1 Olwr tnsl; I mt nt , rwrnted nt „In11r. h:.tl
<br />9
<br />with said intlebtetitivis which are inconsistent with �aid Title 'o are helydly annmded t.•
<br />oit fouo IIIoreto.
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