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<br />85---006347 85-•.
<br />Q05611
<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 />?. 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 />expimses 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 2hereof,
<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 />le. As additional! and collateral security for the payment of the note described, and all sums to become
<br />due antler this mortg,igt t1e ATit rtgitgor here by assigns Lo the Mortgagee all Iensr bonuses, profits, r, -ve-
<br />nues. royalties, rights, and other benefits accruing to the Mortgagor under any and all oil and gas leases
<br />now•, or dining 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 .vell before as after default in the conditions of this
<br />mortgage. and the Mol'tyageo may (Iemand, sue for and recover any suc•li pal )-mi-nts when due and pay-
<br />able, but shall not be required so) to do. This assignment is to terminate and becorne 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 reasonahie mainir•nanc•e work to be performed at the cost of Mortgagor•. Any amounts paid
<br />therefor by Mortgaatoe shall bear interest it the rate provided for in the principal indebtedness, shall
<br />thereupon become a part of tilt' indebtedness secured by this instrument, ratably and on a parity with all
<br />other indebtedness secured hereby, and shall be payable thirty (RO) 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 tailing of, or the consideration for
<br />such acquicitiun, to the ext4-nt 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 said Mortgagee, to be
<br />alrpiird nn account of the last maturing installments (if such inndebtedness.
<br />13. If the Mortgagor fails to make anv payments when due, or to conform to and comply with any
<br />of the conditions or agreernerits rontained in this mortgage, or- the notrs w01101 it secur•r•s, then the
<br />0'11114- prlrlllpall Nhill :Ili(! a((•1'llt'd irlter•i'st sll Fill at (inev lov(.ollll• dill' and pU 5'abit �, at the election of tilt-
<br />Mortgagee; and this mortgage rnay thereupon be foreclosed imnl,•diately for the %%hole of till, Indebled-
<br />lwxx Hereby securl•li, lift lu(ling the rust of extending the allslracl of title fl ore the date of this nturt•
<br />gage to the time of r,mlrnrncing such suit, a reasonable attorney's fee, and any .worms paid 1y the l•etcrans
<br />Administration on m count of tilt- guaranty or insurance o(' the Indobledncss hecured herchy, all of which
<br />shall he included in the decree of foreclosure.
<br />14. If the indf-Modness secured hereby be guaraurtei d or msuri d tinder TO le :18, l toned stator Cod •.
<br />pa
<br />leach Till- and i.c•golat Ions issued till rounder and In etli•, t on th • date hereof shall go%ern the rlgilts, Jul li s
<br />;lid iulblltien of the i-artws hel et n, and any prod unls of tin•: �n ollcr In conneetn,n
<br />'Aitil I;PUd 1ldebt4-driewx `•tilo(it sire Inef.rlRltitent N%ith shill Title ol- l!vrillahons are llel•eby arilended to
<br />nnfnrril Owreto.
<br />The .... v., Plllt`= hi•ren, ' i.rlLurle 1 •01,11{ hind, and 11.• hi u, !its ;u1d ail :nit tr1 •: J:all rlunr T.. 0'h
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