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<br />79-t~ t.13 523
<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 pay or perform the same, and all expenditures so made shall be added to the principal sum
<br />cFVing 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. 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 fur any- othet• purpose eisecvhere authorized hereunder. Said note or notes shall be secured
<br />hereby on a parity with and as fully as is the advance evidenced thereby were included in the Hate first
<br />described above. Said supplemental note or notes shall bear interest at the rate pt•ov ided 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 Rortgagee. In no
<br />event steal; 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 to~card the payment of
<br />the note and all sums secured hereby in case of a defa;alt 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; as the Mortgagee
<br />steal; have power to appoint any agent or agents it mac desire for the purpose of renting the same and col-
<br />lecting the rents, revenues and income, ar_d 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, if any, to be applied toward the dischat•ge of said mortgage indebtedness.
<br />9. lie will continuousi}- maintain hazard insurance, of such Type or topes and amounis as Mortgagee
<br />may from time to time ; eouire, on the improvements now or hereafter on said premises and except when
<br />payment for all such premiums has theretofore been made under (a) of paragraph 2 hereof, will pay
<br />promptly lichen due an'v.~i}cemiums therefor. Upon default thereof, 3ortgagee may pay the same. All
<br />insurance shall be caret' ut companies approved by the :lortgagee and the policies and renewals thereof
<br />alto;) be field hy- the Aortgagee-and have attached thereto loss payable clauses in fay or of altd in form
<br />ac-ceptable to the ~iartgagee. In event of loss Mortgagor will give immediate notice be mail to the Mort-
<br />gagee, n-ho mac make ptroof of ]oss if not made promptly b}• Mortgagor, and each insurance company con-
<br />cerned is hereby authorizer) and directed to make payment for such loss directly to the iortgagee instead
<br />of to the Mortgagor and the Jiartgagee jointly, and the insurance pr~x~eeds, or any part thereof,
<br />may be applied by the Aortgagee at its option either to the reduction of Uae indebtedness hereby secured
<br />or to the restoration or repair of the property damaged. In event of foreclcsta:•e of this mortgage, or other
<br />transfer of title to the nuu•tgage~d property in extinguishmenf of the indebtedness sectu•ed hereby, all
<br />right, title and interest of the Mortgagor in xttd to any ir.-surance policies then in tutee shall pa.9s to the
<br />purchaser or grantee.
<br />I0. As additional and collateral secm•ih- for the pacment of the note descra~ed, and all sums to become
<br />due under this mortgage, the. ~iortgagar hereby a,;signs to the jlot•#gag~ all lease boaauses, profits, reve-
<br />nues, royalties, rights, and other benefits accruing to tho Jiortgagar under any- and all oil and gas leases
<br />now, or during tite life of this mortgage, executed on said premises, kith the right to receive and receipt
<br />for the same and apple them to said indebtedness as n-eli before as after default in the conditions of this
<br />-n€,stgago, nd the ~isrtgagee , :ay demand, su~ for and recover are such l:a:-mec:ts :lien. clue and gaY-
<br />ab'.c, but shall trot be required sa to do. This assignment is w terminate and become null and v°oid upon
<br />release of this mortgage.
<br />11. He shall not. commit or permit n•aste; and shall maintain the pro}~,erq- in as good condition as at
<br />present, rea.~na61e tivear anal tear excepted. Lpon an}- failure to so maintain, 4ortgagee, at its option,
<br />mar cause re<•tsonalyie n:aintcnance u-ork tc be performed at the cost of 37w•tgagor- any- amounts paid
<br />ihrefor b>' M~rigan~-e shall );ear interest at the rate provided for in the principal indebtedness, shall
<br />thereupon, become a part i,f the indebtedness secured b}• this instrument, ratable and on a parity with all
<br />other indebtedness sriured hereby, and shall be payable thirty (:it)) days after demand.
<br />3?. If the prom:-e=• or an}- part thereof, be candemred under the poker of eminent domain, or
<br />acquir~~rl for a public .<.:•, the damages awarded, the proceeds fur the ia`sing of, ar the consideration for
<br />such acq±aisition, to tl;e 2?:trnt of the foil amount of the rema?Wing :anpaid indebtrciness :,ccured by this
<br />mortgage, cr hereby assigned 20 the Mortgagee, and shall lie paid forthx ith t±: said '_liat•tgagee, to be
<br />agp3ied f=n accc=uni c•f ih~ la.:t maiut;ng installments of stash indebtedness.
<br />l3- if the \ic'rtgagor fails to make an}- pa}anent, when due, or to cnnfurm to and comply with any
<br />of the conditions cr agreements contained in this mortgage, or the Hotly ~thich it secures, then the
<br />entire nrincipa3 sum and accrued interest shall at once become dot- ant? paeabl~-, at the ek•ction of the
<br />`~icrtgagee; and this mortgage ma3 thereupon be foreclose-d immediately for the .cho3e of the indebted-
<br />ness hereby secure-d, including the east of extending the abstract of title from the date of this mort-
<br />gage tti the time of commencing such suit, a reasonable attorney's fee, and any sums paid by the Veterans
<br />Administratiot, on account of the guaranty- or insurance of the indebtedness secured herti•be, all of which
<br />shall be included in the decree of foreclosure.
<br />1•f. If the indebtedness secured hereby be guaranteed nr insured under Titre :3R, t'nited States Code,
<br />such Title and Itegulatians issued thereunder and in effect an the elate hereof shall govern the rights, duties
<br />and liabilities of the parties hereto, and any previsions of this or other instruments executed in connection
<br />with said iadehtedaess which are incaasistent with said Title or I:egulations are hereby amended to
<br />conform thereto.
<br />The cocenaats herein contained shall bind, and the benefits and advantages shall inure to, the
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