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79-- 1_ l r Ei 311
<br />8. If he fails to pay any sum or keep any covenant provided for in this mortgage, the Mortgagee, at
<br />its option, may pay or perfa•m 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.
<br />7. Upan 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 put•pose elsewhere authorized hereunder. Said note or notes shall be secured
<br />hereby ou a parity with and as fully as if the advance evidenced thereby were included in the note first
<br />described above. Said supplemeraal note or notes shalt bear interest at the rate provided for in the prin-
<br />cipal indebtedness and shall be payable in appt•oximately equal monthly payments for such period as may
<br />be agreed upon by the iliortgagee 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.
<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, revemres 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 anc 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'_' any, to be applied toward the discharge of said mortgage indebtedness.
<br />9. He will continuausly mainl~in hard ~nsuran~~, of such t° +
<br />pe or Hypes and a„counts as ;n`arigagee
<br />may from time to time require, on the improvements now er hereafter on said premises and except when
<br />pa}-ment for all such premiums has theretofore been made under (a j of paragraph 2 hereof, will pay
<br />promptly n•hen 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 theliortgagee and have attrched thereto loss payable clauses in favor of and in °orm
<br />acceptable to the 3ortgagee. In event of loss Mortgagor kill give immediate notice by mail to the Mort-
<br />gagee, zvha ma}• make proof of loss if not made promptly by Mortgagor, and each insurance company con-
<br />cerned is lierehy authorized and directed to make payment for such loss directly- to the Mortgagee instead
<br />of to the .Lortgagor and the \lortgagee jointly, and the insurance proceeds, ar any part thereof,
<br />may be applied b}• 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 mor±gaged property in extir_guishment of the indebtedness secured hereby, all
<br />right, title and interest of the Mertgagor in and to any insurance policies then in force shall pass *,A the
<br />purchaser or grantee.
<br />10. As additional and collateral securit}• for the payment of the note described, and all sums to become
<br />due under this mortgage, the Martgagor hereby assigns to the Mortgagee all 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 the life of this mortgage, executed on said premises, n•ith the right to receive and receipt
<br />for the same and apple them to said indebtedness as well before as after default in the conditions of this
<br />mortgage, and the :1lortgagee may demand, sue for and recover any such payments when due and pay-
<br />able, but shall not be reouired so to do. This assignment is to terminate and became null and void upon
<br />release of this mortgage.
<br />11. He shall not commit or permit waste; and shall maintain the property in as good condition as at
<br />present, reasanahle wear and tear excepted. Upor. any failure to so maintain, 9ortgagee, at its option,
<br />may cause reasanabie maintenance work to be performed at the cost of Mortgagor. An}- amounts paid
<br />therefor b~ Murigabr~e shall bear interest at the rate provided for in the principal indebtedness, shall
<br />thereupon b<rc+~mr a hart of the indebtedness secured by this instrument, ratable and on a parity with all
<br />other irdebtedness secured hereby, and shall be payable thirty (30) days after demand.
<br />1?. if the premise=, or any part thereof, be condemned under the power of eminent domain, or
<br />acquired far a public us<<, z=tti damages aw=arded, the proceeds fm• the taking af, or the consideration for
<br />such acquisition, tr+ the extent of the full amount of the remaining unpaid indebtedness secured by this
<br />mortgage, ar hereb~~ assigned to the Mortgagee, and shall be paid farthwi{h to said blartgagee, to be
<br />applied ar. acct,unt r+f the last maturing installments of such indebtedness.
<br />13. If LhG ylart~zagor fails to make any payments when due, or to cnnf+~t;•rt to and comply with any
<br />of the conditions or agrc~ments contained in this mortgage, or the Hate, nhich it secures, then the
<br />entire principal sum and accrued interesi shall at once become doe and payable, at the election of the
<br />'_1lortgagee; and t;:is mortgage may thereupon be foreclosed immediately for the whale of the indebted-
<br />ness hereby secured, including the cost of extending the abstract of title Pram the date of this mort-
<br />gage to the time of commencing such suit, a reasonable attorney's fee, and any sums paid by the Veterans
<br />Administration on account of the guaranty or insurance of the indebtedness secured hereby, all of which
<br />shall be included in the decree of foreclosure.
<br />14. If the indebtedness secured hereby he guaranteed or insured under Title 38, United States Code,
<br />such "Pitle and Regulations issued thereunder and in effect on the date hereof shall govern the rights, duties
<br />and liabilities of the parties herein, and any procisians of this or other instruments executed in connection
<br />with said indebtedness whie';. are inconsistent with said Title or Pegulations are hereby amended to
<br />conform thereto.
<br />The covenants herein contained shall bind, and the benefits and advantages shall inure to, the
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