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<br />83-004084
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<br />3. The Mortgagor will pay all taxes which may be levied upon the Mortgagee I s
<br />interest in said real estate and improvements, and which may be levied upon this mortgage
<br />or the debt secured hereby (but only to the extent that such is not prohibited by law and
<br />only to the extent that such will not make this loan usurious), but excluding any income
<br />tax, State or Federal, imposed on Mortgagee, and will file the official receipt showing
<br />such payment with the Mortgagee. Upon violation of this undertaking, or if the Mortgagor
<br />is prohibited by any law now or hereafter existing from paying the whole or any portion of
<br />the aforesaid taxes, or upon the rendering of any court decree prohibiting the payment by
<br />the MOrtgagor or any such taxes, or it such law or decree provides that any amount so paid by
<br />the MOrtgagor shall be credited on the mortgage debt, the Mortgagee shall have the right to
<br />give ninety days' written notice to the owner of the mortgaged premises, requiring the
<br />payment of the mortgage debt. If such notice be given, the said debt shall become due,
<br />payable and collectible at the expiration of said ninety days.
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<br />4. That should he fail to pay any sum or keep any covenant provided for in this
<br />Mortgage, then the Moltgagee, at its option, may payor perform the same, and all expenditures
<br />so made sr.all be added to the principal sum owing on the above note, shall be secured hereby,
<br />and sr4ll bear interest at the rate set forth in the said note, until paid.
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<br />5. That he hereby assigns, transfers and sets over to the Mortgagee, to be applied
<br />toward the !4}'ment of the note and all SUllIS secun.>d hereby in case of a default in the
<br />performance of any of the terms al~ conditions of this Mortgage or the said note, all the
<br />rents, revenues and income to be der~ved from the JOOrtgaged premises during such time as
<br />the mortgage indebtedness shall remain unpaid; and the Mortgagee shall have power to appoint
<br />any agent or agents it may desire for t~~ purpose of repa~ing said premises and of renting
<br />the same and collecting the rents, revenues and inccme. and it may payout of said incanes
<br />all expenses of repairing said preuuses clnd necessary conmissions and expenses incurred in
<br />renting ..nd mafu1.ging the sallie cwd of collecting rentals therefrom; the balance remaining, if
<br />any, to be "ppUed toward the d.l.sd\3lqe of said ,nortqage lndebtedness.
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<br />6. That he will keep the improvcn~nts now ex.!.sting or hereafter erected on the
<br />mortgaged property, insured as may be n.-quired frcan time to time by the Mortgagee against
<br />loso> by file dnd other hazards, casualt.l.l:s dnd contin<Jenc~es in such amounts and for such
<br />pec.lods dS may be n>quin.'o by the MOrtgagee cllld wHl pay promptly, ....hen due, any premiums
<br />on such insurance provision for payment of "'h.!.cr. has not be<.ln 'l1dde hereinbefore. All
<br />insurance sha 11 be c",rr ied in cornp",nies apP(.oved by the Mortgagee and the policies and
<br />l:enewals U,.,l'eof shall be held by the MortgdCjee ,,00 hdve dttached thereto loss payable
<br />clauses in favor of al~in form dccepLaLlc to the Mortgagee. In event of 106s Mortgagor
<br />will give 1Jl1l!l<-.Jiate notice by '''''.l.l to th... Mortqi1ge", ...ho lI"'y ".;tlte proof of loss if not
<br />llldde promptly by Mortgd<jor, dnd ""ch ~n5urC"K'<' '~OInpdny concerned is hereby authorized and
<br />directed to make Pdym"nt for such loss d.u,,~'tly to the Mortgag.:e instead of to the Mortgagor
<br />and the Mortgag<;" Jointly, .:.;na th", ~nS~dnc<' Pf0<.:",..-<l5, or dny part thereof, may be applied
<br />by the Mortgd9"0t: ,.It 1 ts Qvtion ei t.her t,o ttH,~ reduction '..1f the indehtt.."<lness hereby secured
<br />or to the restoration or rep,ur 01 the prOpt'rty .1"'''''\I"d. in event of foreclosure of this
<br />mort9age or oLher transfer of t 1 t 1,: to the mortqagt..J propt1rty in extinguishment of the
<br />indebtedn"ss ,)(,cur"d htutJby, all r J.ght, tJ. tit, ,,,.d lnter"st of the MOrtg",gor in and to dny
<br />insur..nce policies then in fore" shall pass to the purchdser or grantee.
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<br />7, That as additional "oJ collater",l security for the payment of the note described,
<br />and all sums to became due under this mortgage, the Mortgagor hereby assigns to the Mortgagee
<br />all profits, revenues, royalties, rights and benefits accruing to the Mortgagor under any
<br />",nd all oil and gas lease>> on S<lid premises, with the right to receive and receipt for the
<br />same and apply thelll to said indebtedness as well as after default in the conditions of this
<br />mortgage, and the Mortgagee may demand, sue for and recover any such payments when due and
<br />payable, but shall not be required so to do. This assig~nt is to terminate and become null
<br />and void upon release of this mortgage.
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<br />8. That the Mortgagor will keep the building upon said premises in good repair,
<br />and Mither cOlMl:i.t nor permit waste upon said land, nar suffer the said premises to 00 used
<br />fox any unlawful purpose.
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<br />9. That if the premises, or any part thereof, be condemned under the power of
<br />~fIel1t d_in, or acquired for a public use, the dalllages awarded, the proceeds for the
<br />taking of, or the conaideration for such acquisition, to the extent of the full amount
<br />of ind;;;bt<<lneu upc.;n this lIlOrtgag... aM the note which is given to secure remaining unpaid,
<br />ar. he.l:eby ,Ulld.gned by the Mortgagor to the MOrtgagee, and shall be paid forthwith to said
<br />Mortq~.e to be applied by the latter on account of the next maturing inatalLmant of such
<br />ind~edneu.
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