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85-- 0063oq
<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 />t 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 trade 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 />bear interest at the rate provided for in the prin-
<br />described above. Said supplemental note or notes shall
<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. Heishe hereby assigns, transfers and sets over to the Mortgagee, to be applied toward the payment of
<br />the note and all suns 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 bi- 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 />exIhIlses incurred in renting and managing the same and of collecting rentals therefrom; the balance
<br />remaining, if any, to he 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 addition :11 and tllatct•al security for the payment of the note tiescribcd, and all sums to txcome
<br />due under this mortwtw. . ti„ 11 "rtgagor hereby assigns to the Mortgagee all lease bonuses. profits, revs
<br />rt- tit•", royalties, right:, ::nd "Iher benefits accruing to the Mortgagor under• any and all oil and gas leases
<br />11')W, or during tn,• Lfe of ;Iris mortgage, executed on said premises, elth the 1•ight to receiveand receipt
<br />for tit-- same and apply then) to :rid indebtedness as cell bof ore as after default in the conditions of this
<br />mortgage, anti ih,• 1f„rty:at;,•• may demand, sue for and I•ecover any such payments W-lien clue and pay -
<br />ah4, , but .Il:dl rest Fee• itynilt i st, to do. This assignment is to terminate and become null and void upon
<br />rvicasc of this mortgage.
<br />11. He /she shall not commitor permitwacte ;and shall maintain the property in as good condition as at
<br />pro;cut, !, as,,u :1i,1,• t•.rnr :unl tear excepted. Upon any failure to so maintain. Mortgagee. at its option,
<br />n1 :1c cause reason ;l!,i, m :unt,•n ;uuo Work to be perlorene I at the cost of Mortgagor. Ali)- amounts paid
<br />th, refer L� Mortga ^,t•, :hall he ;u interest at the rate provided for Ill the inrtncipal indebtedness, shall
<br />th, reupon he, onn• :1 }tart of the milchtedness secured by this instrument. ratahl} and on a parity with all
<br />other nulebte4hw.,.s.ecnred 11"r4'bY, and "11:111 be payable thirty (30) days after demand.
<br />12. it• tlu pr,•nu >,•., "r :'11 part thereof, he condemned 1111d4'r the pl,ei,•r of eminent domain. or
<br />ac,luu-ed for n pui,lt, it >.t.• th, J ;tniAges :J %% ;11 -dt'd, the proceeds 1 "ll. tilt- taking of. or the omsidl -ration for
<br />su,il actni�rt"n, to tilt "f the full amt,unt of tilt- rem:unnlg unpal, secured by this
<br />mortgage, nt• ln•rclo to the Mortgagee, and shall he paid fin thv „th to ..,tti NI"rigagee, to be
<br />appiu•d on a,v "ullt „f the Lr.t maturing inaalinlents,.f such indebtedness.
<br />la. If the• Sl", g,tg "r fad,; to male arc par!nentc when 41114'. or• to r,tnf• rm 1" an,i e "nipl} Willi ant•
<br />nit•ttts c "nt:uned Ill Iht. mortgage, , ill, n„t, . tt 1•;111 it se, nn's, then lilt,
<br />lWill, Iltil sum atnl ;r„ rrlt d nt• r, st .hall at "nee hee "Ills due and p,, > :d,i, . ;it Litt, elert'on of tilt•
<br />�1"reg ;rWn,•• :Ind tl,,.• t • "r ?R'Igt' ?nay' ihet•cup "n he 1'nt•4'rlosed nrllnedial'-k 1 "r ill-, llhnlr of the Indebted -
<br />�. I t ;i� {, ,,, hAll :g ill, , "�t of t•tt, nding the ah.t•aet ttl title fl''nl Iht• d ;tie of Ihis nlort-
<br />ztage to till tun, "t ilig •n, h .ult, a reaa "Dahl, ;lit-,? ft e. rued :Ill% '1101, p:t d by ill,, 1 , terarls
<br />��L•nuustratl,n
<br />1 a• ",out "1 ?il"' wnaranty "r ;n +nr.tn, "(Iht ml,lttt Int•, �„ uI, d h,r. hy, ,111 "f �lhtrh
<br />:vhall b,• Irldold'-d III ill.- degree t,f fin lit •1'lnsll tie.
<br />1 1 If' tit •Indebtedn4'.s .(wilted h4'tehy ht guarani, t d .n 'I ItI ,I 11TIdor Title 314, 1'n11e,l `tact'. t'nde.
<br />,u, h'i'Itl� nI•i thetetlndr mild I . t, 11 il. I, n "I �I,.111 g "�, rn ih, r rlht,,,iutle.
<br />ru,i hai,'itm� "f tilt Ir,lri ,•,, ht It tip, ;IDd ant lu „tI -nnl� ,t 't t „rlt , ,a,l•nn ntc,-�„ utt•d n, "mn•rtI "n
<br />.,•'.t ;,Ili tnat,ftt,dn... ttlnl .Ins Im,n�r,t,nt , +I!II -.t,i Ilth• n I:,•it,rl,tltac•.ur I.,r,{t> ant,n,ied to
<br />,,htrr titel,.r„
<br />l I. n.tr,r t tt tilt :n n, .I .h,li, i, anti II, „ a old :Its ant :l }•. J .,Ii +nlr I".
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