|
<br />
<br />°4. That shouTd'he fair' to .pay any sum nr keep any covenant pravided for in this..
<br />Mortgage, then the Mortgagee,. at its option, may pay or perform the same, and all
<br />expenditures so made shaT be added to the prineipal sum owing on the above note,-snail
<br />he secured hereby, and shaTI bear interest at the rate set forth in the said note, until
<br />paid.
<br />5. That he hereby-assigns, transfers and sets over to the Mortgagee, to be applied
<br />tas~ard the payment of the note and a13 sums secured hereby in case of a default in thee:.
<br />performance of any of the terms and conditions of this i",ortgage or the said note, all
<br />the rents, revenues and incosrr~ to b2 derived from the r,~ortgaged premises during such
<br />time as the mortgage indebtedness shaTT remain Unpaid; and the Mortgagee shall have
<br />.power to appoint-any: agent or agents it may desire for the ,purpose of repairing said'
<br />premises and of`renting the same and collecting the: rents,_revenues and income, and it.
<br />may pay out of `said incomes ali expenses of repairing saiS`premises afid necessary
<br />eommissiorts and expenses incurred in renting and managing the same and of collecting
<br />rentals therefrom; the balance remaining, if env, tb be applied toward the discharge of
<br />said amrtgage indebtedness.
<br />&. That he s~ilY keep; the improverrrents now existing or hereafter erec±ed cin the
<br />mortgaged property, insured 4s may be required r'rom time to tifi}e b}~ the Mortgagee
<br />agaahst Toss by fire and other hazards, casualties and canti;ngencies in such amounts
<br />and for such perrods as may 5e required by the Mortgagee and wi'tT pay prbinptly, when due,'
<br />any premiues~ on such insurance provision for payment: of which has not been made hereih-
<br />before. p~TT insurance shah be carried in companies approved by`the Mortgagee and the
<br />pal cies and renewals thereof shall be-held oy the Mortgagee and have attached thereto
<br />Toss- payable clauses in favor of and in form acceptab3e to the Mortgagee. ' In :event of
<br />Toss Mortgagor trill give immediate notice by mail to-the Mortgagee, syho may make proof:.
<br />of ::Toss if not made prompity by Mortgagor, and each insurance company concerned is
<br />hereby authorized and'-directed to rake payment for such lass directly to tsae h3artgagee
<br />instead of 'to thee..Mortgagor and the Mortcacsee joint]y, and the insurance ~raceeds, or
<br />an,i part thereof, ;nay be appiibd by tn:: =aortga~,ee at its a~itian Cither to the r-eauction
<br />of the indetsteaness Hereby secured nr to the rLStoration or repair of the pro:~crty
<br />danageo, Fn event oti forecicsure of tti~ mortgarse or otrisr tranafer of r^tie tt tho
<br />mortgaged proaertr in extinguishment of the indebtedness secured Hereby, all rigist,
<br />tittle and interest of the Mortgagor in and to any ins ranee policies then in farce shall
<br />passe. to the purchaser or'grantee.
<br />1. That as additional and ccilateral security for the payment of tti~ note described,
<br />and aTT sums to become due under this r,7artgage, the iktrtgacaitr trereby assigns to the
<br />Mortgagee aTi ~r•ofits, revenues, royatties,rghtsand b~r~eritsaccruingtothe
<br />Mortgagor under rang anr! all oil` and gas Teases on ;paid ~reirrsr~s, with thr~ right. to
<br />receiae and receipt for tfie same and apply tftem to said indebtedness as ~~kll as after
<br />default in the conditions of this mortgage, and the Fortgagee may demand, sue far and
<br />recover,arty such payments when due and payable, but shalt Hat be required so to-do.
<br />This assignment is to terminate an6 bcxtome itulT and void,upan release of this mcirtgage.
<br />B. That the.Mortgagor will keep the buildings upon said premises in good repair,
<br />and neither commit nor permit waste upon said lanQ,'nor suffer the said premises to be
<br />used for any unlartfuT purpose.
<br />9. That if the premises,.or any ;part thereof, be condemned :under the power- of
<br />eminent domain, or acquired for a public use, t#te damages awarded, the proceer~s for thee.
<br />taking of, or the consideration for such acquisition, to the extent of th'e full amount
<br />of indeb*_edness upon this rtsortgage and ttte note which is given to secure remaining unpaid,
<br />are hereby assigned Gy the Mortgagor to the t+brtgagee, and shall be paid forthwith to
<br />said Mortgagee to be applied by the tatter on account of the next maturing installment--
<br />of such indeGtedness
<br />The covenants herein contained shall bind, and the benefits and advantages shall
<br />insure to, the respective heirs,..:executors, administrators, successors anc" assirans of
<br />the parties hereto. ::henever used, the singular number shall include the plural, the
<br />plural Ue singular, and the use of any ,ender stsall be applicable to all cienders.
<br />The fareaoing conditions, all and singular, being performed'according to their
<br />natural and legal i,s,part, this conveyance shall be void and said premises released at the
<br />expense of the Mortgagor; othersise to he and remain in full force and effect,
<br />2
<br />
|