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<br />79-®r t~~k~229
<br />I &. If he fails to pay any sum or keep any covenant provided for in this mortgage, the Mortgagee, at
<br />~,, ~~ Sts option, may pay or perform the same, and all expenditures so made shall be added to the principal sum
<br />1'' ! owing on the above note, shall be secured hereby, and shall bear, interest until paid at the rate provided
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<br />for in the principal indebtedness.
<br />7. L'pon request of the Mortgagee, Mortgagor shall exe-cute and deliver a supplemental note or notes
<br />for the sum or sums advanced by Mortgagee for lire alteration, modernization, or improvement made at
<br />the Mortgagor's request; or for maintenance of said premises, or foz• taxes or assessments against the
<br />same, and for any other purpose elsewhere authorized hez°eunder. Said note 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 />describes. 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 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 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 aver to the Mortgagee, b be applied toward the payment of
<br />the note and all sums secured hereby incase 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 3fortgagee
<br />shall have power to appoint any agent or agents St may desire for the purpose of renting the same and col-
<br />letting the rents, revemtes and income, and St 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 discharge of said mortgage indebtedness.
<br />_ 9. He will continuously maintain hazard insurance, of such type or types and amounts as Mortgagee
<br />may from time to t lore require, 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 when due any premiums therefor, Upon default thereof, Mortgagee may pay the same All
<br />----- in~irranie. Khali be iaszii'd in ~ompean~~ appsa v`v ed by the Mortgagee and ~itc policies and r2ne:E`aia then 23f
<br />shalt be held by the 3ortgagee and have attached thereto loss payable clauses in favor of and in form
<br />acceptable to the Mortgagee. In event of lobs 3ortgagor will give immediate notice by mail to the Mort-
<br />- gagee, tivho may make proof of lass if not made promptly by Mortgagor, and each insurance company con-
<br />cerned is hereby authorized and directed to make payment for such less rlit•c:ctly to the Mortgagee instead
<br />of to the 3ortgagor and the 3fortgagee 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 restaratian w• repair of the property damaged. In event of foreclosure of this mortgage, or other
<br />transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all
<br />right, title and interest of the Mortgagor 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, the bSortgagar hereby assigns to the Mortgagee all lease bunt~ses, profiGc, reve-
<br />Hues, 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, with the right to receive and rc~eipt
<br />for the same and apply them to said indebtedness as Even before as after default in the conditions of this
<br />- mortgage, and the Mortgagee may demand, sue for and ree:over any such payments ~ehen cltte and pay-
<br />- = able, but shall not be required so to do- This assignment is to terminate and becotnc~ null and ve}id upon
<br />release of this mortgage.
<br />-- - I1, He shall nut commit or permit waste; and shalt maintain the property in as gacxl condition as at
<br />present, reasonable ~rcar and tear excaptcd. Upon any failure to so maintain, 3ortgagee, at its option,
<br />Wray cause reasonable maintenance work to be lxrfurmed at the cost of Mortgagor. Any amounts paid
<br />therefor by Mortgagee shall bear intcre°t aC the rate provided for in the principal Sndebtednc•ss, shall
<br />thereupon become a part of the indebtedness secured by this instrument, ratably turd ou a parity, Keith all
<br />- other indebtedness secured hereby, and shall he payable thirty (3Q) days after demand-
<br />I2, if the premises, or any part thereof, be condennted under the power of eminent domain, or
<br />acquired Ior a public use, the damages awarded, the proceeds for the talzing of, ur tl:e consideration for
<br />such acquisition, to the csicnt of the full amount of the remaining unpaid indebtedness sc•cuted by this
<br />mortgage, or hereby assigned to the bortgagee, and shall be. paid forthwith to said Mort~~agee, to be
<br />applied oat account of the East maturing installments of such indebtedness.
<br />1;?. if tht~ Mortgagor tails to make arty payments when dtte, or to conform to seed comply evith any
<br />of rho conclitioos or agreements contained in this mortgage, or the notes which it secures, then the
<br />entire principal sum and accrued interest shall at once become due and payable, at the election of the
<br />Mortgagee; and this mortgage may thereup_ on br foreclosed immediately for the w}tulz> of the indebted-
<br />.-. _ Hess hereby secured, ittcludittg the cost of extending the abstr$ct of title from the date of this most-
<br />- gage to the time of commencing such suit, a reasonable attorney's fee, and any sums paid by t}te Veterans
<br />Administration on account of the guaranty or insurance of the indebtedness sectored hereby, all of which
<br />shall be included in the decree of foreclosure.
<br />14. If the indebtedness secured het•eby be guaranteed or insured undt t• Title 38, United States Code,
<br />such Title and Pegulations issued thereuncder and in eiTt~t un the date hex°eof stall govern the rights, duties
<br />and liabilities of the parties hereto, and any provisions aF this or other instruments executed in connection
<br />-with said indebtedness which are inconsistent with said Title or Regulations are hereby amended to
<br />conform thereto.
<br />The covenant4 herein contained shall bind, and the benefits and advantages shall inure to, the
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