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<br />85- 003285
<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 />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 />sam, 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 />& 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 />e:eept when payment for all such premiums has theretofore been made under (a) of paragraph 2 hereof,
<br />will Pay promptly where &6
<br />&Ce tltx Upon default thereof, Mortgagee may pay the same.
<br />All insurance shall be Itll+ "'settdplatidsp`NPPtoyed by the Mortgagee and the policies and renewals
<br />thereof shall be held by t Mot'11040ii sW404 attached thereto loss payable clauses in favor of and in
<br />form acceptable to the M ; , ' kvet `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,:uui 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 tin life of this mortgage, executed on said premises, with the right to receive and receipt
<br />for the same and apple them to said indebtedness as well before as after default in the conditions of this
<br />mortgage, and ti,e Mortgagee may demand, sue for and recover any such payments when due and pay-
<br />able, but shall not be 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 option,
<br />may cause 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 tale principal indebtedness, shall
<br />thereupon become a part of the indebtedness secured by this instrument, ratably 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 power of eminent domain, or
<br />acquired for a public use, the damages awarded, the proceeds for the taking of, or the consideration for
<br />such acquisition, to the sheet of the full amount of the retraining unpaid indebtedness secured by this
<br />mortgage, or hereby assigned to the Mortgagee, and shall be paid forthwith to said Mortgagee, to he
<br />applied on account of the last maturing installments of such indebtedness.
<br />13. If the Mortgagor fails to make any payments when due, or to conform to and comply with any
<br />of the conditions or agreremetits contained in this mortgage, or the notes w lush it sesames, then the
<br />entire principal sum and accrued interest shall at, once become due and payabl,�, at tlae election of the
<br />Mortgage: and this mortgage may thereupon be foreclosed itnmediately for the whale of the indebted -
<br />re ,ss hereby secured. igrcltading the cost of extending the abstract of title f om the date of this mort..
<br />gage to t1w, time of cronlnerrcirag such suit, a reasonable attorneg's fee, and alj} sutnd paiel l,y the Veterans
<br />Administration on account of the guaranty or insurance of the indebtedip"Ns :scan "d he n b}, all of which
<br />shall he included in the decree of foreclosure.
<br />14. If thee. indebtedne:i,% " °ured hereby be guarantee>rp or i11so1.,vl under I,,, If. 1,4, 1`r11 ted dImes Code,
<br />Lamch Title and Regulations rued thereunder and in ON,t t im Uu . iatr „S .9ha ;l rr,. %orn the• rights, duties
<br />and 9alsllities of the parts hereto, and any provisions of thiw or' irj at rotner;ta ,�Eerulevl in eortnti't €�, ?r
<br />with said indebtednem which are inconsistent, with said 'Title or Regulwirgns :are l.ere,t +y arrremeled 1,�
<br />,cfs#nform thereto.
<br />The rov`c*SSlintm herein (•o11tA1nfgI shall hsnd, and tho lwrwfit.� aan,l a,lcarotap< shall more t,,, th,�
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