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<br />79--4~c~~~'78
<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 />owing on the above note, shall be secured hereby, and shall bear interest until paid at the rate provided
<br />fox• in the principal indebtedness.
<br />7. Upon request of the Mortgagee, Mortgagor shall execute and deliver a supplemental note or notes
<br />fur 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 far any other purpose elsewhere authorized hereunder. Sari note or notes shall be secured
<br />hereby on a pat•ity with and as fully as if the advance evidenced thereby were included in the note first
<br />described above. Said supplemental note or notes shah bear interest at the rate provided for in the prin-
<br />cipal indebiedness and shall be payable in approximately equal monthly payments for such period as may
<br />be agreed upon by the ilIortgagee and Mortgagor. Failing to agree or. the maturity, the whole of the sum
<br />or Bunts 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 over to the Mortgagee, to be appiicd toward the payment of
<br />the note and all sums secured hereby in ease 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 far 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 inctu•red in renting and managing the same and of callectiug rentals therefrom; the balance
<br />remaining, if any, to be applied toward the discharge of said mortgage iindeb"redness.
<br />9. Ile will continuouslg maintain hazat•d insurance, of Bach type ar types asd amounts as i}fortgagee
<br />may fram time to time require, on the improvements now or hereafter an said premises and except when
<br />payment for all such premiums has theretofore been made under (n) of paragraph 2 hereof, will pay
<br />prompil}- when due any premiums therefor. Upon default thereof, Mortgagee may peg the same. Alt
<br />insurance shall be carried in comganies approved by the Dortgagee and the policies and renewals thenmf
<br />shall be held by the'_llortgagee and have attached thereto loss payable clauses in favor of and in form
<br />acceptable to the Mortgagee. In event of loss 3ortgagor will give immediate notice by mail to the Mort-
<br />gagee, who may make proof of loss if not made promptly by M~rtgagar, and each insurance company con-
<br />cerned is hereby authm•ized and directed to make payment for Stich Loss directly to the 3laregagee instead
<br />of to th.e Jlortgagar and the Itilortgagee jointly, and the insurance proceeds, or any part thereof,
<br />may be applied by the Mortgagee at ils option either to the reduction of fire indebtedness het•eby secured
<br />ar to the restoration or repair of the property damaged. In event. of Foreclosure of this mortgage, ar ether
<br />transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, alt
<br />right, title and interest of the Mortgagor in and to any insurance palieies then in force shall pass to the
<br />purchaser ar grantee,
<br />I0. As additional and callater-aI s€~uritg far the payment of t}te note described, and atI sums to became
<br />due tinder this mortgage, the hSottgagor hereby assigns to the Mortgagee all tease battuses, ptrofits, reve-
<br />nues, royalties„ rights, antd other benefits accruing to the ~iartgagar tmdcr any and ati oil anti gas leases
<br />nnw, ar during the lifca trf this matt-gage, executed on said premises, wit}{ the right to recc-ive and t•€~°ipt
<br />for the same anti apply- Them to said indcbtedrtews as well ite,fort: as after default in the conditions of this
<br />itottgagr~, ?r,d thr- Marte _gee Wray- dtman:, sue for atrt ro;~av4r any uch payments witfn due and pa}'-
<br />abte, taut shall not be: rt~luirecl sa to do. This assigttmc-nt is to let-inmate and become null and void upon
<br />release of this mortgage.
<br />t1. He shall not commit or permit waste; and shall maintain the property- in ¢ts geed eonditian as at
<br />present, reasonable wear and tear excepted. Upon any failure to so maintain, Mortgagee, at its option,
<br />may cause reasonable maintenance tvark to be performed at the cost of Mortgagor. Any antotmts paid
<br />therefor by Mortgagee Slott! bear int-crest at the rate provided for in the principal indebte<lness, shall
<br />thcreupan become a part of the indebtedness sce:ured by this instrument, ratably and on a parity with all
<br />other indebtedness secured hereby, and shall be payable thin}• (8p) days after demand.
<br />~2. if t!te premises, or any part thereof, rte condemned under the lwwot of ontinetet clamain, ar
<br />acquired fur a public. use, rho damages awarded, the groceeds for the exking of, or the cotr.,ideration fot•
<br />such acquisition, to the extent of the full amount of the remaining unpaid indebtedness secured by this
<br />mortgage, ot• hereby assigned to the Mortgagee, and shall be paid farthtvittt to said Mortgagee, to bat
<br />applied an aceomtt of rho last maturing installments of such indebtectrtcss,
<br />13, If the Mat•tgagor fails to make any gaytneuts when due, or to cont'ornt to and comply with any
<br />of the cvnditions ar agreements containedrn this mortgage, or they notes which it secures, then the
<br />entire pritteipal Burn and rtcertt~`I Interest shall at once became duo and payable, at the etectian at the
<br />Mortgagee; and this mortgage may thet•r~upon ba fot•eclo~d immediately far thr tt•lto}c elf the indebted-
<br />nrss hereby secured, including the cast of extending the abstract of title fratn the date oti this mort-
<br />gage to the time of commencing such suit, a reasonable attorney's fee, and any sums paid by the Veterans
<br />Administration on account pf the guaranty or insurance of the indebtedness secured hereby, all of which
<br />shall Ile included in the decree of foreclosure,
<br />2S. If the indebtedness secured hexeby be guaranteed or insured under Title 3$. United States Cole.
<br />such Title and Regulations isa:ted thereunder and in effect on the date hereof shalt govern the rights, duties
<br />and liabilities of the putties hereto, and any provisions of this or other instruments ext~ented in connection
<br />with said indebtedness which are inconsistent with said Title or Regulations are hereby amender{ to
<br />conform thereto.
<br />The covenants herein contained shall bind, and the benefits and advantages _ahall inure ta, the
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