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79',x- ~ (~ 1 ~ ~~ ~ <br />ill. ilf he fails to pay any sum or'ke+rp as;;y ci€s^uenant pro:;~decl i~r in thi.a miortgs8e'~~ ahc l~ortgagree, rt <br />its optiaa, m'ry Fay or pertorrtt the aarate> and all expenditures so arcade shall tae .added tc~r ~ttae principal soon <br />owiatg on the above note, shall be secured he_*eby, and shall bear iatPresat until paid at Ilse rate provided <br />for is the principal iadebtedaeas. <br />7. Upon request of the ]dortgagee, Mortgagor shall execute and deliver a supplemental nee or notes <br />for the sum or sums advanced by 3ortgagee far L'te alteration, moderaizatiaa, or improvement made at <br />the 7Sortgagor's request; or for maintenance of said gremisea, or for tares or assesameata against the <br />acme, sad far any other purpose elsewheze authorized hereunder. Said wrote or notes shall be secured <br />hereby oat a parity with and as fully as if the advance evidenced thereby were included in the note Brat <br />described above. Said anpglemental note or notes shall bear interest at the rate provided for in file 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 (80) days after demand by the Mortgagee. In no <br />event shall the maturity extend beyond the ultimate maturity of the note first described above. <br />°. lie hereby scars .s, tra~et~ sad its aver t4 the )dartgagee, to bP agptiPd toward the pa~rznent of <br />the note and all sums secured hereby in case of a default in the performance of any of the terms sad Bondi- <br />' lions 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, revenues and income, and it may pay out 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, i€ say, to be applied toward the discharge of said mortgage indebtedness. <br />9. lie will continuously maintain hazard insurance, of such type or types and amounts as Mot ~a~~e <br />away iron: time tr, time require, 8n the improvements sow or hereafter on said premises and except when <br />payment for alt such premiums has theretofore been made under (a) of paragraph 2 hereof, will pay <br />promptly whey due any premiums therefor. Upon default thereof, Mortgagee may pay the same. All <br />tnsu_sance shall be sa*ried in can+paaies approved by the Mortgagee and the pGliciea 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 will give immediate notice by mail to the Mort- <br />gagee, who may make proof of loss if not made promptly by Mortgagor, and each insurance company con- <br />cerned is hereby authorized and directed to make payment for such lose directly to the Mortgagee iauttead <br />of to the Mortgagor and the Mortgagee jointly, and the insurance proceeds, or any part thereof, <br />may be applied by the Mortgagee at its option either to the reduction of the indebtedness hereby secured <br />or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage, or other <br />transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all <br />right, title and interest of the Mortgagor in and to any insurance policies then in farce shall pass to the <br />purchaser or gtsntee. <br />10. As additional and collateral security for the payment of the note described, and all soma to become <br />due under this mortgage, the Mortgagor hereby assigns to the Mortgagee all lease bonuses, profits, reve- <br />nues, roygitiea, rights, and other benefits accruing to the Mortgagor under any and all oil and gsa leases <br />now, or during the life of this mortgage, executed on said premises, with the right to receive and receipt <br />far the same and apply them to said indebtedness as well before as after default in the conditions of this <br />mortgage, and the Mortgagee may demand, sue for and recover any such payments when doe and pay- <br />able, but shall not be required sa to do. This assignment is to terminate and became null and void upon <br />release of this mortgage. <br />11. $e shall not commit ar permit waste; and shall maintain the property in as good condition as at <br />pa~esent, reasonable wear and tear excepted. Upon any failure to so maintain, Mortgagee, at its option, <br />may cause reasonable maintenance work to be performed at the cost of Mortgagor. Any amounts paid <br />kherefor by >liortgagee shall bear interest at the rate provided for in the principal indebtedness, shall <br />thereupon become a part of the indebtedness secured by this instrument, ratably and on a parity with all <br />outer indebtedness secured herebq, and shall be payable thirty (30) days after demand. <br />12 u the premises, or any part thereof, be condemned under the power of eminent domain, or <br />acquired for a public use, the damages awarded, the proceeds for the taking of, or the consideration for <br />such scgni'ition, to the extent of the full amount of the remaiating unpaid indebtedness secured by this <br />morkgage, or hereby assigned to the Mortgagee, and shall be paid forthwith to said Mortgagee, to be <br />applied on account of the last maturing installments of such indebtedness. <br />1&. if the Mortgagor fails to make any payments when due, or to conform to and comply with any <br />oY the conditions or agreements contained in this mortgage, or the notes which it secures, then the <br />entire principal sum and accrued interest shall at once become due and payable, at the election of the <br />Mortgagee; and this mortgage may thereupon be foreclosed immediately for the whole of the indebted- <br />ness hereby secured, including the cast of extending the abstract of title from the date ai this mort- <br />gage to the time of eommeneiatg each snit, a reasonable attorney's fee, and any soma paid by the Veterans <br />Adminiattation on account of the guaranty or insurance of the indebtedness secured hereby, all of which <br />:halt be ineJuded in the decree of foreclosure. <br />~ '!4:'Itthe secured hereby be gnaraateed or insured ender Title 38, United States Code, <br />Titk azul B~lstims lssu~ tl3erennder and in efFect cn the date hereof shall govern the rights, duties <br />alai ~ ~ ~ is hereto, sad any provisions of this or other insEroQients executed in connection <br />with . asfst iasrlexatedamss which are inransistent with said Title or Regulations are hereby amended to <br />eoayYarrn thereto.. -- .- _ __ . , __ <br />The covpnaaats herein: contafned shall bird, and the benefits and advantages shall inure to, the <br />.,'! <br />