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79-~~,g?63
<br />6. If he fails to pay any sum or keep any covenant provided for in this martgage, the Mortgagee, at
<br />its option, may pay m• perfm•m the same, and all expenditures so made shall be added to the principal sum
<br />owing on the aboc•e note, shall be secured hereby, and shall bear interest until paid at the rate provided
<br />for in the grincipal 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 i4lortgagee far 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 purpose elsewhere authorized hereunder. Said Hate or notes shall be secured
<br />hereby on a parity with and as fully as if the advance evidenced thereby were included in the note first
<br />.:scribed above. Said supplemental Hate ar notes shall bear interest at the rate provided 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 3ortgagee 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 t;ie 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, 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, if any, to be applied to+vard the discharge of said mo*•tgage indebtedness.
<br />9. He will continuously maintain hazard insui°ance, of such type or types and amounts as 14iortgagee
<br />may from time to time require, on the improvements now or hereafter on said premises and except when
<br />payment for all such premiums has theretofore been made under (¢) of paragraph 2 hereof, will pay
<br />promptly when 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 />silallrbe held by the ?4lortgagee and have attached thereto loss payable clauses in favor of and in form
<br />aec_e,~$~j~. tcithe 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 />corned is hereby authorized and directed to make gayment for such loss directly to the Mortgagee instead
<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 ether
<br />transfer of title to the mot•tgaged property in extinguishment of the indebtedness secured hereb;°, all
<br />right, title and interest of the 1liortgagor in and to any insurance policies then in force shall pass to the
<br />purchaser or grantee.
<br />10. As additional and collateral security for the payment of the note described, and all sums to become
<br />due under this mortgage, ti,e Mortgagor hereby assigns to the 3lortgagee alt lease bonuses, profits, reve-
<br />nues, royalties, bights, 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, with the right to receii-e aitd receipt
<br />for the same and apply them to said indebtedness as 1+°ell before as after default in the conditions of this
<br />mortgage, and the Mortgagee may demand, sue for and recover any such payments ~+-hen clue and pay-
<br />able, but shall not be required so to da. This assignment is to terminate and become null and void upon
<br />release of this mortgage.
<br />11. He shall not commit ar perrmit waste; and shall maintain the property- in as good condi~ian as at
<br />preseni, reasonable wear and tear excepted. Upon any failure to so maintain, 3tortgagee, at its option,
<br />may cause reasonable maintenance work to be performed at the cost of Mortgagor. Any amounts paid
<br />therefor by Martgagee shall bear interest at the rate provided for in the principal indebtedness, shall
<br />thereupon become a pax•t of the indebtedness secured by this instrument, ratabl}• and on a psi°ity with all
<br />other indebtedness secured hereby, and shall be pa}-able thirty (30} days after demand.
<br />12. If the premises, m• 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 taxing of, or the consideration for
<br />such acquisition, to the extent of tl'ie full amount of the remaining unpaid indebtedness secured by this
<br />mortgage, or hereby assigned to the Mortgagee, and shall be paid for#htiyithto paid Dortgagee, to be
<br />applied on account of the last maturing installments of such indebtedness.
<br />13. If the Dortgagor fails to make any payments when due, ar to confarm to and comply with any
<br />of the conditions or agreements contained in this mortgage, or the notes +yhieh it secures, then the
<br />entire principal sum and accrued interest shat at ance become due and payable, at the election of the
<br />Mortgagee; and this mo?•tgage may thereupon be foreclosed immediately for the whole of the indebted-
<br />ness hr_reby secured, including the cost of extending the abstract of title from the date of this mort-
<br />gage to the Lime 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 be guaranteed or insured undet•-Title 38, United States Code,
<br />such Tills and Regulations issued thereunder and in effect on the date hereof shall govern the rights, duties
<br />_ attd liabilities of the parties hereto, and any provisions of this. or other instruments executed in connection
<br />with -said indebtedness which are inconsistent with said Title or Pegu]ations 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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