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<br />41. IP' lye, f'aiil.s tea pa;u' ~,utn+~ atrut~ or Prim i..;l,; ra.P~y' a,~i~~"uruzEuut.t }•.!:i.o-u~inf!,!,xl J"i~u• rru ~'lir•.i~ rriuar•t~,ugtu, t:t~ 1~'ilu'~r^I`.g!'ugee, axt
<br />cpt=,-~,-_, ,na;; pay or ~? i;3r,u Ehe same, a::d ail expenditures so ma,9e stall to adderi to the principal sue:
<br />~iwing e he above note, shall be secured hereby, an3 shall ;;ear interest until paid ai the rate provided
<br />fortrt the principal indebtedness-.
<br />7. Upon request of the 5icrtgagee, 3ortgagor shall execute and deliver a supplemental note ar nags
<br />for the sum ar sums advanced by ~Sortgagee for the aiteraiion, modernization, cr impmvemert made at
<br />the Mortgagor's request; ar far maintenance of said premises, ar for- texas or assessments against the
<br />same, and for any ether gurpose elsewhere authorized hereunder. Said note ot• notes shall be secured
<br />hereby cn a parity ~a-ith 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 payments for such period as may
<br />be agreed upon by the 1ortgagee and Mortgagor. Failing to agree on the maturity, the whole of the sum
<br />or sums s; advanced shall be due and payable thirty (30) days after demand by the Mortgagee. Tn no
<br />eceut shah the maturity extend beyond the ultimate maturity of the note first described above,
<br />8. He hereby assigns, transfers and sets over to the F+3crtgagee, to be applied toward the payment of
<br />` the rata and ail sums secured hereby in case of a default in the performance of any of the terms and condi-
<br />r;ona ~f this ,,,,,:.t-~...... or the ....:d
<br />.. ...,,..,~..b~ _ i,cte, all the rents, revenues and income to be derived from the mor•t~
<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 map desire for the purpose of renting the same and coI-
<br />iecting the rants, revenues and income, and it may pay out of said incomes all nefiessary 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 discharge of said mortgage indebtedness.
<br />9. Ae will continuously maintain hazard insurance, of such type or types and amounts as Mortgagee
<br />may from time, to time require, on the improvements now or hereafter on said premises and except whe.r
<br />payment for all such premiums has theretofore been made under (¢) of paragraph 2 hereof, will pa}
<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 t•ene~vais thereof
<br />shall be held l,}- 'the :`.lartgagee and have attached thereto loss payable clauses in favor of and in form
<br />acceptable to tl-,e Mortgagee. Tn event of Ioss Mortgagor wiIi give immediate notice by mail to the Mort-
<br />gagee, tivho 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 lass directly to the Mortgagee instead
<br />of to the iVTortgagor and the Mortgagee jointly, and the insurance proceeds, or any part thereof,
<br />may be applied by the Mortgagee.at its op~iari-eitTter to the reduction of the indebtedness hereby secured
<br />or to the restoration or repair of'thepronerEv d~maged_ In event of fa,•ealos!tre of this ma ~ . '----
<br />r,.gage, ar vtiiCi
<br />transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all
<br />right, title and interest of the 1~lortgagot• 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 ail sums to become
<br />clue under this mortgage, the iliot•tgagcr hereby assigns to the Mortgagee all tease bonuses, profits, reve-
<br />nues, royalties, t fights, and other benefits ac:.ruing is the Mortgagor under am and all oil and gas leases
<br />nat~; or during the life of this mortgage, executed on said premises, with the right to reec;ive and receipt
<br />,ut• tite s~,r.e and apply then. t.; said in drat{chess as ~~-etc before as after default in ilte conditions of this
<br />ruortg-ante, : r,ci the 3iarts:aut~e neat' demand, sue zor and recover any c„~t, r,avn,en±s x•l:en clan ;na pa;°-
<br />ais'se, but shall not be required sa to do. Tl-iis assignment is to terminate and became null and void upon
<br />re!ea3e of this rrto gage. `
<br />il. Tio shai3 not comm+* °_ permit waste; and shall maintain the property in as good condition as at
<br />present, reasonable hear anct fear excepted. Upon any failure to so maintain, Mortgagee, at its option,
<br />may cause reasonable maintenance work t7 be performed at the cost of Mortgagor. Any amounts paid
<br />therefor by Mortgagee shall bear interest at the rate provided for in the principal indebtedness, s}taii
<br />thereupon become a part cf the indebtedness secured by this instrument, ratabl}• and on a parity with all
<br />a~her indebtedness secured hereby, and shall be payable thirty (30) days after demand.
<br />12. Tf the premises, ot• any part thereof, be condemned under the power of eminent domain, or
<br />acquired for a public use, the damages ativarded, the proceeds for the taking of, or the consideration for
<br />such acquisition, to the extent of the full amount of the remaining unpaid indebtedness secu!~ed by this
<br />mortgage, or hereby assigned to the I4fortgagee, and shalt he paid forthwith to said 2vfortgagc•e. to be
<br />applied on account of t}te last. maturing installments of such indebtedness.
<br />13. Tf the 3lortgagar tails to make any payments when due, or to conform to and campiy whit any
<br />of the conditions or agreements contained in this mortgage, or the notes which it secures, Lhen the
<br />entice principal Burn and accrued interest shall aC once become due and pa}-able„ at the election of the
<br />~Tt;r~~ageee; and tits mortgage cosy thereupon be fareclosod immediately for the whote o the indebted-
<br />ness hereby secured, iltcludirtg the cost of extending the abstract of title from the date of this mort-
<br />gage tv the time of commencing such suit, a reasonable attorney's fee, and any sums paid by the Veterans
<br />Administration an 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: Tf the indebtedness secured hereby be guaranteed nr insured under Title 38, United States Coda,
<br />such Title and Regulations isstaed therepnder and in effect on the elate hereof shall govern the rights, duties
<br />attd liabilities b€ the gentles berets, and any provisions of-this ar other instruments executed in connection
<br />with -said indebtedness which are inconsistent with said Title ar Regulations are hereby amended to
<br />CarLfOFm theFBtO.
<br />The covenants fierciit canf~iined shall bi*ad, rod the benefits and advantages shall inure ta, tY!e
<br />
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