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<br />. - ~"' 1301732
<br />4. That sfiouTd h~ fail to pay any sum or keep any covenant provided for in this.`:
<br />Mortgage, then the Mortgagee:, at its .option,. may ..pay or perform the same, and all
<br />expFnditures so made st~alT be added to the principal sum owing on the above note, shall
<br />- be secured hereby, and shall bear interest at the rate set forth iai the said note, until
<br />Raid.
<br />5. `That he hereby assigns, trans€ers and sets over to the h9ortgagee, to be applied
<br />to•.vard the payment of the note and all sums secured:-hereby in case of a default in the
<br />perfnrr.~ance of any of the terms and conditions of this Mortgage or the said hote, a1T:
<br />the rents, revenues anQ income to be derived from the mortgaged premises during such
<br />tir*~ as the mortgage indebtedness shaY1 remain unpaid, and the Mortgagee shall have'
<br />po:ver 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 eay out of said-incomes all expenses of repairing said premises and necPSSary
<br />commissions and expenses incurred in renting and managing the same and of collecting
<br />rentass,tfierefrom; the balance remaining, if any,. to be applied toward the discharge. of
<br />sold raertgage indebtedness.
<br />6. That he wil'1 keep,Lhe improvements now existing or hereafter erected on-the
<br />mortgaged property, insured as may be rEquired from time to time>by the Mortgagee
<br />against loss by -fire and other hazards,. casualties and contingencies in such amounts
<br />and far such .periods as may he :required by the Mortgagee and will pay prornpily, when due,
<br />any premiums on such rs urance provision for payment of which has not been made herein-
<br />before.. All insurance hail be carried 'in companies.:approved by. the Mortgagee and the`
<br />policies and renewals therecf shalt be held by the Mortganee and have. attached thereto
<br />loss payable clauses in favor of and in form acceptable to the Mortgagee. In event of
<br />loss Mortgagor will give immediate notice by r~ail'to the Mortgagee, who may make proof:
<br />of lass if no t made promptly by Mortgagor, and each insurance-company concerned is"
<br />hereby authorized and directed to make payment far such loss directly to the Mortgagee
<br />instead a€ to the:-fortgagor and the Mortgagee jointly, and-Lhe insurance proceeds, or
<br />any part thereof, may be applied by the Mortgagee at its option either to the reduction
<br />of 'the indebtedness hereby secui^ed or to the restoration or repair of the property
<br />damaged. $n event of foreclosure of this mortgage or other transfer of title to the
<br />mortgaged property in extinguishment of the indebtedness secured hereby, all right,
<br />title and 'interest of the Mortcagor in and tawny insurance policies then in force shall
<br />pass to the purchaser or grantee.
<br />T. That as additional and.. col lateral security for the payment of the note described,
<br />and all sums to become due under this mortgage, the t^~rtgagor hereby assigns to the
<br />Mortgagee all profits,.revenues, royalties, rights and benefits accruing to the
<br />Mortgagor under any and all vil and gas leases on-said premises, with the right to
<br />receive and receipt far`the same and apply them 'ta said indebtedness as well as after
<br />default in'the conditions of this mortgage, and the Mortgagee may demand, sue for and'
<br />recover any; such payments when due and payable, but shall hot be required so to do.
<br />This assigrnnent is to terminate and become nail and void upon release of this mortgage.
<br />9. That the Mortgagor will keep the buildings upon said premises in good repair,
<br />and neither commit nor permit waste upon said land, nar suffer ttte said. premises to be
<br />useG for any unlawful purposei
<br />9. That if the .premises, or any part tfiereof be condemned=under the power of
<br />eminent domain, or acquired for a public use, the damages awarded, tfie proceeds for the'
<br />taking of ar tfie consideration for sucfi acquisition, to the extent of the full amount'
<br />of indebtedness upon thgs mortgage and tfie note whicfi is given to secure remaining unpaid,
<br />are hereby assigned by the Mortgagortb the Mortgagee, and shall be paid forthwith to
<br />said Mortgagee to be applied by the latter on account of the next maturing installmeht`
<br />of such indebtedness
<br />The covenants herein contained shall band, and the benefits and advantages shall
<br />insure to, the respective heirs, executors, administrators, successors. and assigns of
<br />the parties hereto: Whenever: used, the singular number shall include the plural, the
<br />piarai the singular, and the use of any gender shall be applicable to ail' genders.
<br />Tee fereooing conditions, all and singular, being performed' according to their
<br />natural and legal i;rpprt, this conveyance shall be void and said premises>released`at the
<br />exp~ens~e of the t~rtgagor; otherwise to be and remain-in furl .force: and effect.
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