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006456
<br />S. U hejAe t dk to pay any sum or keep any covenant provided for in this mortgage, the Mortgagee, at
<br />its aption. may pay or perform the same, and all expenditures so made shall be added to the principal sum
<br />,oyes an the above note, shall be secured hereby, and shall bear interest until paid at the rate prodded
<br />for a timep jaCipall indebtedness.
<br />'7_ 'Capon requeat of the Mortgagee, mortgnm shall- execute -and deliver a supplemental note or:notes
<br />for fire sum or sums advanced by Idorlgalgee for the altemtion, modernization, or improvement made at
<br />the -Xor%VRCWB 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 as a Verity with and as fully as if the advance evidenced thereby were included in the note first
<br />described above. Said supplemental now or notes shall bear interest at the rate. provided for in the prin-
<br />cipai indebtedness and shall be payable in approximately equal monthly pay rnents 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 -an advanced shall be due and payable thirty (30.) days after demand by the Mortgagee. In no
<br />event shall the maturizc extend beyond the ultimate maturity of the note first described above.
<br />l3 He;ahe hereby amsfers and sets overto the Mortgagee, to be applied toward the payment of
<br />the mite and an sums secured hereby in case of a default in the performance of any of the terms and condii.-
<br />tions of this mortgage or the said note, all the rents, revenues and income to he 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 />iecting 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 tw applied toward the discharge of said mortgage indebtedness.
<br />9 HeAhe will continuously maintain hazard insurance, of such type or types and amounts as
<br />Mortgagee rsay 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 prompt*. when due any premmms therefor. Upon default thereof, Mortgagee may pay the same.
<br />All insurance shall be carried in c _,aappfoved by the Mortgagee and the policies and renewals
<br />thereof sisals be held by the ildortgagi a rind: thereto loss payable clauses in favor of and in
<br />foam acoepotaWle to the Mortgagee. In*vege ei'1'` W Mortgagor will give immediate notice by mail to the
<br />Mortgagee, who may make proof of lose ifnotmad@.promptly by Mortgagor, and each insurance c ompa-ry
<br />concerned m 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, ail
<br />right, title and interest of the Mortgagor in and to any insurance policies then in force shall pass to the
<br />purchaser or gaantee.
<br />10. A, additional and orllateral security for the payment of the note t'ses,:riaea ,and all sums to become
<br />due under this mortgage. the Mortgagor hereby assigns to the 3ortgagee 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 the life of this mortgage. executed on said premises, with the right to receive and receipt
<br />for the same and apply them 1 o said indebtedness as well before as after lefault in the conditions of this
<br />mortgage, and the $hnrtgageo. may demand, sue for and recover any such pa +mt,e,ts when due and pa}-
<br />able, but shall not be s _yvirc =d ,;O t(:; do. This assignment is to terminate and becc me null and void upon
<br />release of this mortgage.
<br />11. Helshe shall not commit or permit waste; and shall maintain the property in as good condition as at
<br />present, reasonablY wear and tear excepted. Upon any failure to so maintain, Mortgage's. at its option,
<br />.may cause reasonable mainti -ante work to be performed at the cost of '.Mortgagor. Any amounts paid
<br />ti�vrefor by Mortgagee thrall ae:ar 'interest at the rate provided for in the principal indebtedness. shall
<br />thereupon lx -come a fart of the indebtedness secured by this instrument, ratabl and on a parity with all
<br />other indebtedness securt.-d hereby, and shail be payable thirty (30) days after demand.
<br />12- If the premises. or any part thereof, be condemned under the poker of eminent domain, or
<br />Acquired for a public use. *114? damages awarded, the proceeds for the taking of, or the consideration for
<br />such acquisition, to the eat,.nt of the full amount of the remaining unpaid indebtedness secured by this
<br />mortgage, or hereby assigns -d to the Mortgagee, and shall be paid forthwith to said ]Mortgagee. to bc•
<br />applied on account of the last maturing installments of such indebtedness.
<br />13, If the Nfol- ,gager fails to make ant• payments when due, or to c: n ornt to and compiy with any
<br />of the conditions ,it agr�+- Ionents contained in this rnortgagc, or tht n,te: v. -hich it secures, then tilt
<br />c ,tire principai sum and accrued interest shall at once i"7ome due and payai,if% at dw t l,_•ction of the
<br />�l rtgagee; acrd L?.;s rnur•tgage may ihen:upena be fr,rsnelosed immediately for fitly tichole of t4:t indebted -
<br />jjc.*S hereby ::r- c°ur =�d. !i,<�icamiv the cost of i�xtc >nding the abstract of t. tit f r';rn the slate of this mort-
<br />gagetothetime of cc =mnaencing such suit, a reasonable attorneys fee, and w% sums viod hY ti-e° Veterans
<br />Admaiistration r,rr accfxuit. of tine guaranty or irsurane,. of the of whwh
<br />shall be included in the riecrce e,f foreclosure.
<br />lt. It the endebterlaebrs,arr:.r +•rl lr4^reyiay be gu :rran *.f :e<: fyr inr;ur-r? :.nrd,.r :tic, i "nrtf=d Mates
<br />uctt 3 iris and itrkitiafions i5susxi t,hercetnder and art f ti e' +,n th list; !; f si:.ai gf „, r; t} =r rr� lire. fiartr +•r
<br />and liabilit”. of the jtar1456 herrat =,, and any pr:>'aisior)s ff •li's t f,tli,•r ivt t � m. n � s�e a ed sir a „nn rte > >n
<br />with said $radfliixtlhe whielr a1v tvt owxitstent with .and .ritl,s "r hcrpby :ar.wndfai hr
<br />s;setrforfn t hereto.
<br />Thy^ t- owmants ii4 rf :i a r: ,r : =ri tir;aa frtnci. and 'err to, .a 3,tw rats` ad% an :,tg" :shall :Harr, t;' th,
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