|
a
<br />g5... 00285
<br />6. If he /she fails to pay any sum or keep any covenant provided for in this mortgage,
<br />its option, may Pay or perform the same, and all expenditures so made shall be add the Mn' at
<br />owing on the above note, shall be secured hereby, and shall bear interest until Pr Pal sum
<br />for in the principal indebtedness. Paid at the rate provided
<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 nude ea 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 approximate) P
<br />y 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 ri 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
<br />the note and all sums secured hereby in of a default in the performance of any toward of the and cond
<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 Mortgagee may from time to time require, on the improvements now or here after on said punts as
<br />except when payment for all such premiums has theretofore been made under a of P wises and
<br />will Pay Promptly when due any premiums therefor. Upon default thereof, Mo (/ Paragraph 2 hereof,
<br />All insurance shall be carried in companies approved by the Mortgagee rtgagee may Pay the same.
<br />thereof shall be held by the Mb rtgagee and the policies and renewals
<br />form acceptable to the th rtgag�ee hikve attached thereto loss payable clauses in favor of and in
<br />Mortgagee. In event
<br />Mortgagee, who may make proof of l of loss Mortgagor will give immediate notice by mail to the
<br />concerned is hereby auth oss if not made promptly by Mortgagor, and each insurance company
<br />orized 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 an
<br />may be applied by the Mortgagee at its option either to the reduction of the indebtedness hereby secured
<br />o
<br />or to the restoration or repair of the property
<br />transfer of title to the mortgaged P PertY damaged, In event of foreclosure of this mortgage, or other
<br />rtgag 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 ass to
<br />Purchaser or grantee.
<br />P the
<br />10. As additional and collateral security for the payment of the note described, slid all sums to bee
<br />due under this mortgage, the Mortgagor hereby assigns to the 11lortgagec' all Iease bonuses profits, become
<br />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 the iNlortgagee may demand, sue for and recover any such pay me uts �t hen due and pay-
<br />is but shall not be require <I so to do. This assignment is to terminate and become null and void upon
<br />release of this mortgage, p
<br />11. He /she shall not commit or permit waste; and shall maintain the property in as good condition
<br />Present, reasonable wear and tear excepted. Upon any failure to so mairitairl, Mortgagee, > 8S at
<br />may cause reasonable maintenance work to be performed at the cost of Mortgagor. t,�igc t , at its option,
<br />therefor by Mortgagee shall bear interest at the rate provided for in the pi nipal indebtcalnu>ss paid
<br />thereupon become si )dart of the indebtedness secured by this instrument, r atai.il�� and on a parity with all
<br />other indebtedness secured hereby, acid shall be payable thirty (30) days tft(,,. tfemarid.
<br />IL. If the premises, or any part thereof, be condemned under the po�ci >: of eminent domain, or
<br />acquired for a public ►.ise, the damages awarded, the proceeds for the taking of, or tlic� co►isidt� ration for
<br />such acquisition, to the Vxh-lit of this full amount of the remaining unpaid indebt <�drrt'ss secured by this
<br />mortgage, or hereby assigned to the Mortgagee, and shall be paid forth %with to said Mortga�'tt', to be
<br />applied on account of the last inatul.•ing installments of Such indebtedness.
<br />13. if the Mortgagor fails to make any payments «hc�n due, or to conf��r'nr to and comply with an
<br />of the condition ; or agreemt.�nts contained it) this mortgage, or till, notes k� hwh it securt's, than the
<br />entire principal Burn and accrued int.ert�st shall at once become due and pay il�i
<br />AlOrtgagee; and this tn'.r't.gagt' inay thereupon be � it tilt' 1'leCti(Irl of tlik�
<br />rwss hereby st•cufrod, 1i1e ludiiiv tilt, co ;t ofli�xt��ndingt the tabstrnettlofttith� "or tilt,
<br />thea��lutc� of thndpbted-
<br />gage to the time of ct,ninierieing Such suit, a reasonable attorney s f���r rnort-
<br />Atl►trinistr:ttion on aciorint of else t;tu;ir:t►rf.y or insul:tnce of tht� iniit�littvirli�, ���, ����rurlt�tlilialr ,1bvtll�'1t� "teti�rans
<br />shall be included in the decrees of foreclosure. hich
<br />14. If the indehtednt � 9e(,u1.0,d lr(,reby bt guarrtnt����d •.r insured under 'Title . .
<br />such Title and )f the Regulation n.tj# i�Iuitli thereunder and ill � if.�1�t $m f1w flat, � hcr� of sill ut ', rrIlite(lt state's Code
<br />anti liabilities of the p:rrtirs ht.I-vto. and any provisions of this or'0hor instrutnf�nt�; e��xcuted in conncc �,�
<br />with mid indelrtc�dnt,ss which are inconsisttant with said '1 °itlt� or lzegnlati�1n;a stets h lltod l emiltlt,,ti n
<br />c (onfor►rr thereto,
<br />1 to
<br />`°I,t, t ovtuntrlt.
<br />hurt in <�ontairwd shall binti, ,end thE I,�
<br />n tits send it�ia,trita� ►os shall inure to th�
<br />
|