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79-- t~ti•'~~ $3
<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 al! 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. Upon request of the Mm•tgagee, 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 yr assessments against the
<br />same, and for any other purpose elsewhere authorized hereunder. Said note or notes shall be secured
<br />hereby on a parity 3cith and as fully as if the advance evidenced thereby were included in the note first
<br />described above. Said supplemental note or notes shall bear interest at the rate provided for in the prin-
<br />cipal indebtedness and shall be payable in approximately equal monthly payme:as for such period as may
<br />be agreed upon by the blvrtgagee and Mortgagor. Failing to agree on the maturit-y, t}~e «hole of the sum
<br />or sums so advanced shall be clue and payable thirty (30) days after demand by the 3ortgagee. In no
<br />event shall the maturity extend beyond the ultimate maturity of the note first described above.
<br />8. ~Ie hereby assigns, transfers and sets over to the bfortgagee, to be applied tou and the pay-men± 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 r~r the said note, all the tents, revenues a::d income to be derived from the mort-
<br />gaged premises during such time as the mortgage indebtedness shalt remain unpaid; and the 3ortgagee
<br />shall hate power to appoint any agent yr agents it may- desire for the purpose of renting the same ar_d 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 lx applied to~~-ard the discharge of said mortgage indebtedness.
<br />9. He twill continueusl>- maintain hazard insurance, of such type or types and amounts as bivrtgagee
<br />may from tithe to tim<~ r~~,uire. on the improvements now ar hereafter on said premises and except when
<br />yur ,:. . „G.,: y: • ,.., .. w ., ~ ~~ , . „ ~ ce ~ vi ynz a~,-a ~„ riei-eui, ~~ ,,, pad
<br />promptly when due any premiums therefor. Upon default thereof, Mortgagee ma}- pay the same. All
<br />insurance shall be exerted in companies approved by the bfortgagee and the policies and renewals thereof
<br />shall be held by the bior±ggree and have attached thereto loss payable clauses in favor vi and in form
<br />acceptable to the lortgagee. In event of toss bortgagor will give immediate notice by mail to the bfort-
<br />gagee. n-ho may make proof of lass if not made promptly by Mortgagor, and each insurance cr,mpany- con-
<br />cerned is hereby authotizecl and directed to make pacment for such loss direct!> to the JSvrtgagee instead
<br />of to the Mortgagor and the liartgagee joinih•, a.nd the insurance prroceeds, or any part thereof,
<br />may be app3ied by the Mortgagee at its option either to the reduction of the indebtedness l:erebr secured
<br />or to the reetaratiion ~r•~rpair of the property damaged. In event of foreclosure of this mortgage, or other
<br />CransfeT of"LitTe to the mortgaged propert>- in extinguishment ot" the indebtedness srcureci hereby, all
<br />right, title and inlet-est of the Mortgagor in and to any insurance policies then in fore: shall pans to the
<br />purchaser or grantee.
<br />10. As additional and collateral securitc for the pacment of the rote described, and al! sums to become
<br />due under this mortgage, the 1livrtgagvr hereby assigns to the bfortgagee ail lease bonuses, profit,, reve-
<br />nues, royalties, rights, and other benefits accruing to the Mortgagor under any and all ail and gac leases
<br />noe•, or during the life of this mortgage, executed an said premises, a ill: the right *.o receive and receipt
<br />for the same and apply them to said indebtedness as well before as after default in the , onditions of this
<br />mortgage, and the bfortgagee may demand, sue for and recover any such payments when due and pay-
<br />able, but shall not be required sa to do. T'nis ~csignment is to terminate and become null and void upon
<br />release of this mortgage.
<br />11. He shall not commit or pet•mit Graste; and slra]i maintain the property in as good conditiar. as at
<br />present, reasonable wear an.l tear excepted. Upon any failure to so maintain, bfortgagee, at its option,
<br />may cause reasonable maintenance vrark to be performed at the cost of 3ortgagor- any amounts paid
<br />therefor by Mortgagee 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, r atabh• and an a parity with all
<br />o±her indebtedness secured hereby, and shall be payable thirty (30) days after demand.
<br />12. If the premises, yr any part thereof, be condemned under the potivet of eminent domain, or
<br />acquired for a public use, the damages awarded, the proceeds far the taking of, or the consideration for
<br />such acquisition, to the exter!t of the full amount of the remaining unpaid irdel~tedness secured by this
<br />mortgage, or hereby assigned to the bfortgagee, and shall be paid forthwith to said bfortgagee, to be
<br />applied on account of the tact maturing installments of such indebtedness.
<br />i3. If the bforigagvr fails to make any payments when due, or tv conform to and comply- wit}i any
<br />of the condition, or agreements contained in this mortgage, or the notes :which it secures, then the
<br />entire principal sum and accrued interest shall at once became due and payable, at the election of the
<br />bfartgagee; and this mortgage may thereupon 6e foreclosed immediately far the whole of the indebted-
<br />ness hereby secured, including the cyst of extending the abstract of Title from the date of this mort-
<br />gage to the time of commencing such suit, a reasonable attarney's fee, and any- sums paid by the Veterans
<br />Administration on account of the guaranty ar insurance of the indebtedness secured hereby, all of which
<br />shall >u' included in the decree of foreclostre•
<br />24. if the indebtedness secured hereby be guaranteed o;- insured under Title 38, United States f'ode,
<br />such Title and Regulations issued thereunder and in effect on the date hereof shall govern the rights, duties
<br />end liabilities of the parties hereto, and any provisions of this or other instruments executed in connection
<br />with said a-ndebtedneas which are incgnsistent with said Title or Regulations are hereby amended to
<br />conf©rm thereto.
<br />The covenants herein contained shall bind, and the benefits and advantages shalt inure to, the
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