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<br />83-002706
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<br />6. If he fails to pay any sum or keep any covenant provided for in this mortgage, the Mortgagee, at
<br />its option, may payor perform the same, and all expenditures so made shall be added to the principal sum
<br />owing 011 the above Ilote, shall be secured hereby, and shall bear interest until paid at the rate provided
<br />for in the principal indebtedness.
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<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 />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.
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<br />8. He hereby assigns, transfers and sets over to the Mortgagee, to be applied toward the payment of
<br />the note~nd 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 payout 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.
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<br />9. He will continuously maintain hazard insurance, of such type 01' types and amounts as Mortgagee
<br />may from time to time require, on the improvements now or hereafter on said premises and except when
<br />payment for all such premiums has theretofore been made under (a) of paragraph 2 hereof, will pay
<br />promptly when due any premiums therefor. Upon default thereof. Mortgagee may pay the same. All
<br />insurance shall be carried in companies approved by the Mortgagee and the policies and renewals thereof
<br />shall be held by the Mortgagee and have attached thereto loss payable clauses in favor of and in form
<br />acceptable to the Mortgagee. In event of loss Mortgagor will give immediate notice by mail to the Mort-
<br />gagee. who may make proof of loss if not made promptly by Mortgagor, and each insurance company con.
<br />cerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead
<br />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 fOl'(~closure of this mortgage, or other
<br />transfer of title to the morlgaged property in extinguishment of the indebtedness secured hereby, all
<br />right, title and interest of the Mortgagor in and to any insurance policies tlwn in force shall pass to the
<br />purchaser or grantee.
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<br />10. As additional and collateral security for the payment of the note descl'ibed. and all sums to become
<br />due under this mortgagt', the MOItgagor hereby assigns to the Mortgagt'e 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 lit", 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 well before as after default in the conditions of this
<br />mortgage, and the lI10rtgag''C may demand, sue for and reeover any such paymcnts when due and pay-
<br />able, but shall not be 1'(''1uired so to do. This assignment is to terminate and become null and void upon
<br />release of this mortgage.
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<br />11. He shall not commit or permit waste; and shall maintain the property in as good condition as at
<br />present, reasonable wear and teal' 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 />Uierefor by Mortgagee shall bear interest at the rate provided for in the 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.
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<br />12. If the premises, 01' 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 extent 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 Mortgage,,, to be
<br />applied on account of the last maturing installments uf such indebtedness.
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<br />13. If the Mortgagor fails to make any payments when due, or to conform to and comply with any
<br />of the conditions 01' agreements contained in this mortgage, or the not"s which it secures, then the
<br />entire principal sum and accrued interest shall at once become due and pa.rablc.. at the <'iection of the
<br />Mortgagee; and this mortgage may thereupon be foreclosed immediatel:,' for the whole of the indebted-
<br />ness hereby secured, including the cost of extending the abstract of title from the date of this mort-
<br />gage to the time of commencing such suit, a reasonable attorney's fee, and any sums paid by thc \' eler<l!1s
<br />Administration on account of the guaranty or insurance of the indebtedness secured hereby. alJ of which
<br />shall be included in the decree of foreclosure.
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<br />14. If the indebtedness secured hereby be guarantecd Ot. insured under Title :38. Unit..d Stat,.s Cod..,
<br />such Title and Regulations issued thereunder and in effL>et on the date l",rcof shall gowrll the rights, duti"s
<br />and liabilities of the partieshereto, and any provisions of this or other instrum,,"ts ('xc'cut,'d ill cOlllH'dion
<br />with said indebtedness which are inconsistent with said Title or Hegulations arc hereby amcnded to
<br />cQnf(Jrm thertlto.
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<br />The cownant.8 h.m,in contaillt>d shall bind, and th" lwnefits and advantages shall ill"l'e to. tlI"
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