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_851 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 />V for the sum or sums advanced by Mortgagee for the alteration, modernization, of- improvement made at
<br />eC 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 />f 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 />U.) 8. He /she hereby assigns, transfers and sets over to the Mortgagee,
<br />00 the note and all sums secured hereby in case of a default in the performance off any toward
<br />condi-
<br />tions of this mortgage or the said note, all the rents, revenues and income to be derived from tine 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 pn.
<br />y_pTealiuM fefg , Upon default thereof, Mortgagee may pay the same.
<br />All insurance shall be ruried id MmiWomifti a>pproved by the Mortgagee and the policies and renewals
<br />thereof shall be held by thP MOP449ee li i8 hliO attached thereto loss payable clauses in favor of and in
<br />form acceptable to the Morti4ee, iii 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 :uui ri Jlatcr'al security for t he paynunt of tilt, note des: rile, d, and all sums to become
<br />due under this mortgage, tilt, Mortgagor hereby assigns to the Mortgagve all least' honuses, profits, reve-
<br />nues, royalties, rights, . nd other benefits accruing to the Mortgagor' un1e1' any and all oil and gas leases
<br />none, or during tnc life of this mortgage, executed on said premises, with tilt• right to receive and receipt
<br />for the same and apply thorn to amid indebtethiess as well before as after Iefault in the conditions of this
<br />mortgage, and the Mortgagee play demand, sue for and recover any such pa} rnt,nts when due and ahic, but shall not he required so to do. This assignment is to terminate and hc•c•o111e nuP. 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, lliurtgagee, at its option,
<br />may cause reasonable maintenance ,work to be performed at the cost of Mortgagor. Any amount.~ paid
<br />therefor by Murtgat;ee ,hall hear• interest at, the rate provided for in the principal indebtedness, shall
<br />thereupon become a part of the indebtedness secured by this instrument, ratably curl on a parity with all
<br />other indebtedness secured hereb,1, and shall be payable thirty (3o) days after demand.
<br />12. If the prerndses, or any part thereof, be corlden,ned under the prover of eminent domain. or
<br />acquired for a public use, the damay %s awarded. the proceeds for t.l,e taking of, or the Consideration for
<br />such acquisition, to tilt, oxtt•nt of the fall amount of the remaining unpaid indebtedness secured by this
<br />mortgage, of hcrehv assignorl to the Mortgagee, and shall be paid forthwith to swirl Mortgagee. to be
<br />applied on account of the last m;ttiming ins talinwilts of such indebtedness.
<br />13. If the iloi tg; g, r falls to make :irn pa} aunts when due, or to conform to and comply with ally
<br />of the conditions or agrcern•rits coutauwd in this mortgage, or the notes uhirh it secures, then t.hc
<br />entire principal sun, and actrucd interest shall at once become due and pa)ablc, at the election of the
<br />Mortgagee; and this mortgage may thereupon ho foreclosed inunediately for the whole* of the indebted-
<br />ness hereby sccurtd. iuluduig the cost of extending the abstract of ti +le }ltvn the elate of this nunt-
<br />gage to the time of r ,nnnu•nring sorb suit, a t•easonahle attorney's fee, an, e sums paid by the Veterans
<br />Administration It, at, „unt of tilt, guaranty or• intcurance of the indebtednt"Is Ured hcr, lo. all of which
<br />shall be included in tlur decree of foreclosure.
<br />14. If the indphtednt s secured herby he gnarant„rd or in:;nr, d under 'Tilde 38, I'nitod States Code,
<br />'hill Title and Regulatrnis ikzrrcd thereundi "rand rn eil• i on the aaG i., r f,hall g,oci n the rights, dutit::
<br />and liabilities of the., partws hereto. and an} provisions r-f llus ,o .thy i ire: t rune �rt.e executed in ronnerturu
<br />with said indebtednwa�4 wh=ich are inoonsdstent with said Title et' 1!cg,ilatio s ore Iwlehy amended to
<br />'onfornithereto.
<br />Tha <r�e °nav;t,, h,n-in rlfaor,ed shall hind, and the hrnt•f�l := anti :oltatelnie. =hall inure t.., fit,•
<br />` 34 .p
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