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<br />4<v-~ 83-002708
<br />83...J)04325
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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 on the above note, 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 011 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 ,rovided 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 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, revenUE'S 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 or types and amounts as Mortgagee
<br />may from time to fime l'l'<1llire. on the improvements now or hereafter on said premises and except when
<br />paymcnt 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 ,viII give immediate notice by mail to the Mort-
<br />gagee, who may make 1'1'001' of loss if not made promptl~' by Mortgagor. and each insurance company' con-
<br />cerned is hereby authorized and dil'ected to make payment for such loss dir"etl~' to the Mortgagee instead
<br />elf to the '\lortgagor and the '\lortgagee jointl~., and the insur1lnc,' proceeds. or any part thereof.
<br />may be applied by the Mort![ag,'e at its option either to the l'Ptluction of the indebtedness hereby secured
<br />llr to the restoration or repair of the property damaged. In eW'llt of fort'closure of this mortgage, or other
<br />transfer of title to the ItlOrtg'aged property in t'xtinguishment of the indebted.lt'ss secured hereby. all
<br />right, title and intert'st of the Mortgagor III and to any insurance polici,'s th"n III force shall pass to the
<br />purchaser or gt'antee.
<br />10. l\.S additional and n)llateral security for tht' payrnent oJ the nott' dt.'~l..-r!bul. ~lt:d ail StlIns to bt'COllle
<br />due under this mortgage. the Mortgagor hereby assigns to the Mortgagee ail 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 tne life of this mortgage, ,'xecuted on said premises, with the right to n'cl'ive and reet'ipt
<br />for the samt' and apply them to said indebtedness as well b,'fort. as after dL'fault in t be conditions of this
<br />mortgage, and the Mortgagee may demand, sue for and re>cover any ""dl paYllIe'nts wllt'n due and pay-
<br />able" but shall not be rl'quil'ed So to do. This assiglllllent is to ternllnate and uecollle null and void upon
<br />release of this mortgag".
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<br />11. He shall nut cummit ,Ir penlllt waste; and shall maintain the prolwrty i II ,IS W'od condition as at
<br />present, reasonable wear and kar exc,'pted. Cpun any failure tu so maintain, .\Iol.t!{ag,'e. at its optiun,
<br />may cause rt'asonaule malnt<'llanCe wurk to be Ilt!rforlll,'d at the ClOst ,,1' .\fortgagor. Any amounts paid
<br />th'erefor by Mortgligee shall bear interest at the rate> pronded for in the prillcipal indebted.ll'ss, shall
<br />thereupon become a part of the indebtedness secured by this Instrumt'nt, ratably llnd em a parity with all
<br />other indebtedness secured hereby, and shall be payable thirty (;\0) days after demand.
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<br />12. If the premises, or any pal.t thereof, be condemned under the pOWe!" of ,.minent (hllllain, or
<br />acquired for a public use. the damages awarded, the proceeds for lhe taking of, or the t'Onsideratiun for
<br />such acquisition, to the ext"nl uf the full amount of the r,'mallung unpaid indebte'dness s,'cured by this
<br />mortgage, or hereby asslgned to the Mortgagee, llnd shall be paid forthwith to ""id Mtll.tgHge'e. to be
<br />applied on accuunt of the last maturing installnwllts vf such indebtedne6S.
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<br />13. If the Mortgagor fails to make any' pa,iime:nts when due:, or to clInful'l1l tu and comply w.ith any
<br />of the conditions or agreements contained in this murtgage, or the notes \,hich it secun's. then tlil'
<br />entire principal sum and accrued interest shail at once become dut' and payal>!". at tilt' eketion of the
<br />Mortgagee; and this mortgage may thereupon be fOl't,closed immediately for the wlwIl' of the indebted-
<br />ness hereby set:ul't'd, induding th,~ cost of exte'nding the abstrad of title from the dute of this mort-
<br />gage to the time of commencing such suit, a reasonable attorney's ft'e, and allY "ums paId by tlw \'"t,'raIl5
<br />Administration on account of the guaranty or insurauce of the inJeutctlnesci sl'um:d h"I','lJ\'. ail of which
<br />shall be included in the dt'cree of foreclosurt'. .
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<br />14. If the indebtedness secured hereb)' be guarantt'cd or insul'ed uuder TiU.. :i~, l'nittcd Stalf's Cnde.
<br />such Title and Hegulations issu~>d thel'eumIer and in eifect on th" .Ial..ltt'l'cof shall go\el'lltlle rights. dutws
<br />and liabilities of the parties hereto, and any provisions of this '>I' uther instrulll..nts ,'x"cu!t:d '" conllt'dioll
<br />with said indebtedness which are inconsistent with said Title or H"J{u!:ltiollS are Iwrdl,V anJell(kd to
<br />conform thereto.
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<br />The covenants herein contained shall bind, and the b,mefits and advantage's ~hall illlli'\' to, tl1,.
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