|
<br />
<br />f 35?'"''
<br />J. 't -- ,
<br />
<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 pay or perform the same, and aU expenditures so made shall be added to the principal sum
<br />owin~: on the above note, shaH be secured hereby, and shaH bear interest until paid at the rate provided
<br />for .in the principal indebtedness,
<br />
<br />'I, Upon r!€(][uest 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 shaH be secured
<br />hereby on a parity with and as funy a..<;: 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 />cipalindebtedness and .shaH be payable in approximately equal monthly payments for such period as may
<br />be agreed upon by the I\Inrtgagee and Mortgagor, Failing to agret~ on the maturity, the whole of the sum
<br />or sums so advanced shall be due ~md payable thirty (80) days after demand by the Mortgagee, In no
<br />event shall the maturity extend beyond tht' ultimate maturity of the note first described above.
<br />
<br />8. He hereby fl$$igns, transfers and sets OVElr to the MortgageEl, to be applied toward the payment of
<br />the nob:! and all sums seclu'ed in ca.<re of a default in the performance of an;).' of the terms and condi~
<br />tinDS uf this mOl"tgag:e or the said note, all the rents, revenues and income to be derived from the mort-
<br />gaged premjsel~ during such HIne as t.he mortgage indebtedness shall remain unpaid; and the Mortgagee
<br />shall haVf~povn~r to appoint any agent or agents it may dt!sire for the purpose of renting the sam~~ and col-
<br />h}dil1~r the renj;..., J'I:wmues and irW(lme, and it may payout of said incornes all necess:u'y commissions and
<br />expenses incu'rl'ed in renting and managing the same and of colledingnmtals therefrom; the balance
<br />l"Nlla.ining,H? all~r. to be applied toward Um disehal'ge of said mortgage indebtedness,
<br />
<br />9, He wiH continuously maintain hazard insurance, of such type or types and amounts as Mortgagee
<br />ma:\<' from time to time on t.he improvements now or hereafter on said pt'emises and except when
<br />payrnent for all such pn,;miums has th€!retofore been made under (a.) of paragraph 2 hereof, "vill pay
<br />promptly whim due any pn:'miull'ls therefor, Upon default thereof, :Mortgagee may pay the sam(~. AU
<br />insurance shall bE' clu"ried in cmnplwies approvle'lt hy the and th~, and renewals thereof
<br />shall be held by the and h:Wf\ attacht'd thN'eto loss clause", in fa VOl' of and in .form
<br />accf-'ptable to the In event of loss Mm"tgagor will ilnm."diat.,. notice by mail to the Mort-
<br />gagee, who may rHahn of 11)83 if not m.tdo profnptly by Mortgagor, and em~h insurance company con-
<br />cerned is herehy authorized and dire\:tl'd to make paymcllt for sllch li'SS to thelVfOl'l:gagee instead
<br />of to tlll':\Iortgagor lInd Hw , and the insurance or any p<lrt thereof,
<br />may be apl'lit~d by the at its (.>ption p!ther to the !"t?dudion of the in(kbtedn"s,; hereby secured
<br />01' to the t'""torat.lOtl ur n:puir Ol the .prolK,rty damaged, In event. of f'Jr.,closure of thismort.gag't', or other
<br />trl1l11lfer title to till' propm'1.y in of theilillt"bt,:dr:e;;,,,, secun:d hereby, all
<br />title and jntere~'t elf the MortgagOl' III and to any ini\\Ul'Hnl'!' thell Hl force shaH paBS to the
<br />purdl~u>er or grant"'l:,
<br />
<br />10. .As addittowd nllll \'I,llnt"l'a! s,,,,:unty f'lr I hI.' pilynWlIt (If the noh' Ih',wl'!lx',1. and aU smns to become
<br />due under thi15 rnortg',g>,;, th" !Ii!()l'tgagur to thE' all /('1\se hO[Jus('S, reve-
<br />nU~'8. .!Hd "U",'l' hene/lts to the U!H!;'!' any and all oj! and gas leases
<br />now, 001' during the iif~1 ,..f Hns mortgage, ,'x';.,'utcd on :said wlth t!lI:' rig:h\ to ree"ive and. receipt
<br />for th., "..IlH: and appl~' Uwm t" "aid ind,'bt<~dllt"i;1; as weil beron, as a.ft(~l' dnfault in the conditions of this
<br />mortg~lgt:. ;<l1d tl.l<~ maj' <krullnd, SUt! for and !'(.'(:over i.my 6(1\:11 paym(>lits Wh'>H due and pay-
<br />able, but shall !lot bl; ['C'd so Vi do. This is to tenninate and lw....onw mill and void upon
<br />rt'lN\",';(]of this
<br />
<br />11. He shall 1101, commit ',r l'lenllit w~,ste; and shall maintain the pr01H,'l'ty in as good condition as at
<br />present, rel'l8\Hluble wear and tt,:ar any failun~ to so mailHain, at its option,
<br />may e~mSe l'easoflilb/o.:' Hl;'llnknaute work to be Pt,rfOl'lllt,d at the COB! of Any amount.s paid
<br />by sblill t"2'a1" ,nterest at tlw rate I.H'ovidt:d for in the principal shall
<br />become a p,art of the mdebtedness secured this and on a parit.y with all
<br />othE'r ind(\bt~,dness sec!H'(:.a and shall be payalm, thirty <:.Hi.i artor demand,
<br />
<br />12. If the
<br />for,'!.
<br />
<br />
<br />such
<br />mOl"tg'l.tg'e, or
<br />\'HI r.ecm,nt
<br />
<br />pn:lnI8t';S, any part thelT'of, be {'ondenmed under th,!
<br />use. the aW~itrded. the pr.oc('eds for the
<br />to thl~ extent of the full IHllount of tho unpaid
<br />to HI(! mHi shall I'll.' forthwith to ",aid
<br />instailn'IeHt.s of sll.<:b
<br />
<br />!, f th(, last
<br />
<br />
<br />pO'Ner of eminent or
<br />of, or the (:onsideraUon for
<br />se\:un:d by this
<br />to bl:
<br />
<br />Ht If the f:..ils to IUI.i.ke any paymdlt.s "when or to (conform to and with any
<br />the or ;.gn'ements eontai.wd iu thi", t.ll,,: HOt.:Ci which it SI"CUl'!~", then the
<br />('llbr,~ sum 4!lld a(',;;rue;J im':r<iJ;t ."h.aH at \)llC~ b{~(;onH:. du.e and at thle! "'k!d.iol'l of tlll'\
<br />; ll!l<l this llHII'tgagt; Hi<,y !.l;;: L'01't!d08ed flit' the ()f th,~ ilJ(lehtE~d.
<br />,S,,,;\,,j,,,'d, Ih(:, C{,;;t of the abstn:iCt oJ title: from the l111tc of this mort..
<br />ttmll (}.f su.:.'.!'l Milt, a r'iilsOnabk! Hwl [{uy ",dlnlS paid by the Vett'l'an:>
<br />ij:r) ~~(;,":,fHl,n,L of t.h.l} gua.rant~r Of ins:u_r<l.rlt~'e of tkH~ ind\2lJt(~d,n(~~~1~"i i;~':,:'curt.,'d t ;:dl of \v'l'ci\:'.-h
<br />i.n ~h\" of
<br />
<br />
<br />Or' .inS-i;Jf.c:d nndtrr ~riUe Stab~.s, (;o<1e.
<br />in {1'Jft~:,:,:t d,at.r,:~"h€'l't.()f c:thaH ,govern the d~Jt,i~~s
<br />thi;.; "t j!l,stnm:j'nt" i'Xl'culf'd in ('(I1ln!.::dhm
<br />Tithy :H't' ;mh."n\ll.'1! I"
<br />
<br />\"onhl.l!H,d "hnll
<br />
<br />and Ul(1 b,,'n~tjts and
<br />
<br />
<br />~_{1_1 t hie
<br />
|