|
79-- Otl6~~
<br />6, If he fails to pay- any sum or keep any cotenant provided for in this mortgage, the Mortgagee, at
<br />its option, ntay pay oz• perform the same, and all expenditures so made shah be added to the principal sum
<br />awing on the above note, shall be secured hereby, and shall hear interest until paid at the rate provided
<br />for in the principal indebtedness.
<br />7. Upon request of the ltiortgagee, Mortgagor shall execute and deliver a supplemental note or notes
<br />for the sum or sums advanced by &iortgagee for the alteration, modernization, or improvement made at
<br />the 141ortgagor's request; or for maintenance of said premises, or for tales or assessments against the
<br />same, and for any other purpose elsetrhere autiaoriaed hereunder. Said note or notes shall be secured
<br />hereby on a parity with and as fully 8S if the advance evidenced thereby were included in the note first
<br />described above. Said stxppieatentai rote or note-s shall hent• 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 an the maturity, the tvho~ of the sum
<br />cr Snm3 sU advanced shall be due and payable thirty (SOl days after demand by the Bortgagee. In no
<br />eceaxt shall the maturity- extend beyond the ultimate maturity of the note tixst described above.
<br />S. lle hereby assigns, transfers and sets over to the Mortgagee, to be appliedtou•aril the payment of
<br />the noie and all sums securc~9 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 inrnme to be derived from the mort-
<br />gag2d premises during such time as tine mortgage indebtedness shall remain unpaid ;and the 3iortgagee
<br />shall have power to appoint any agent or agents it may desire far the purpose of renting the same and crol-
<br />leeting the reni.~, revenues and income, and i# may pay out of said incomes ail necessary commissions and
<br />ex>xnses incurred in renting and managing the same and of collecting rentals therefrom; the balance
<br />rea.taining, if any, to he applied tou-ard the discharge of said martgxge indebtedness.
<br />7- He n ii2 continnottsly- maintain hazard insurance, of such Type or ty-lks and amounts :~ Mortgagee
<br />may fx•<:nt time to tints : tire, on the improvements non- or hereafter on ,aid premises and except when
<br />payment for all surlt p±~.n:outs has theretofore :ken made undec• (n) of paragraph ~ hereof, tt'il. pay
<br />promptly tvhrn due any premiums therefor. It}wn default therx+f• Mortgagee rosy pay the same. All
<br />.n~nranca .hall b<• carri<~rl in canxpanies approved by the \iortgagee and the politics and reneu-ats thereof
<br />.~h:ill be-held by the Mortgagee and haitt attached thereto lax. payable clauses in favor of and in farm
<br />,t<-ee*pzable u, the Mortgags~, ir: scant ai loss'_liortgagor n•ill give immediate notice by mail to the Mort-
<br />gtgee. u It<~ xnax- make ptrixf c+f loss if rot made promptly by Mortgagor, and each insurance company con-
<br />. coed is hereby authorized and directed to n?ake payment for such Lzcs directly to the \iortgagee instead
<br />~~: to the \iertgagor ;:nd t=ie \iortgagee jointls-, and the insurance prckeeds, or any part thereof,
<br />r3ay be ap} lies? by th.~ ii~rtr~~~ ai itz aption either ,3 the z~uaion of the indebt<~dness hereby secured
<br />r to *.he n•stex~*.intt ,e- relaair of the pr<~perty dantagea- In scent of foreclosure of this mortgage, o~ other
<br />transfer of title to the atz+,clgaged nrcpertc in <~ctingnishment of the ir,=lebtedtxs secutr•il hereby, all
<br />right, title and interest -..i the Moz-zgagor in and to any Snsurance potic;es ;hen in t~,rce shall pass to the
<br />paxrhaser or granter.
<br />]d. ~ additional and cr•Ilsteral security- for the payment of the note des: ribe:d, said ail sums to become
<br />due atxder this mortg:azr, t h.- \torigagor lteteby- assigns to the lliortgagt~ azll lease bonuses, pmtits, reve-
<br />nues, troyalties, rights. a*::~ cahcr benefit,=. sccruing to the'_4iort~>vtntr undor any an,3 al} oil and gat leasex
<br />nott•, or during tee life t~f :his mr.••tgage, esccu*_ecl on said premises, u ith the right to receive and receipt
<br />for the same and apply ti?em u+ >aid indebte-?uess as tcell before as after clet'sult in t,te ."sditious of this
<br />Inurt~"dg4', and ti.e '_1i o;Kg<aaY mar demand, sue for and xeeacer any such pa}•m:arts t~h.-- due and pay-
<br />ahle, but si'tall not tx- r~w;a:t,-.i sa, to du. This a_cignment is t<~ terminate and tx~-<,tne m;l'; and void upon
<br />release of this mc•rt~.
<br />11- He :hall nt,t ct+nantit ,sr permii oasts; and ,hall maintain ilte property in ~, g<+<kl condition as at
<br />rt+t~nt, ri•aszrable uYar ;~-„i tear excrptetl, I'pon any fa?lure to set maintaiai.'_ktortg.akn>;.-:tt its option,
<br />nsay cause x•easor.a~,• x;taintt-t:arxee cork to i,e prrfornted at ?he iKUt of \it,rtgabtiu•. ~tty :unounts paid
<br />lhzreior by 3lux2g'~~;<K shall fear interest at the rate provided for iu the print=pal irdebtedn~ss, shall
<br />thereupon Ix~=Y,mr a }art ~+s the indzbtedrser+::,ocured by- this irstrumont, ratably and un a parit}• u-ith all
<br />t~her indebtcctness sec-urrd l;ereby, and shah be payable thirty t poi days after demand.
<br />1.2. if the }~r~mi.rs, nr any part thertY+f, be condemned under the power of eminent domain, or
<br />acquired ft+r a pubhz use, the damages au-ar3ed. the ptrxet~cls fi+r the taking c+f, or the r,nsiclex°ation for
<br />such acquisition, to the ea.ent <,? the full amount <.f the remaining unpaid indebt~,ln~es sc~urzd by this
<br />mortgage, or hereby assign<=,i t~> the Mt±rtg-g-x, and shall be paid iorthcvith to ,,aid Mortgagee. to he
<br />appli~°1 r3r: account t;f the I:Lt n.aturing installments of such irdebtedness-
<br />i3 if the Mortgagor fails tc~ ntalce any- };ayments xhen due. or La ccrnfox-m to and comply with any
<br />of the rondi#ions or agreements cnrxtained i.>z this mortgage, or the notes a-hich it secures, then the
<br />etx*~ire principal st>sm and acrruecl interest shad at nnie teetme due and pay-abk~, at the electian of the
<br />_'!St}z-tgagee: and Lhi_s n;oMg2ge mat t>aereupon bz foreclosed immediately for the tivhole c,f the indebted-
<br />ness heteb}° se%•ured, inrltiding the cost ni extettding the abstract of title from the date of this mort-
<br />gage to the tune of camtnenringsu~h suit, a reasonable attorney's fee, and am sumo. paid by the Veterans
<br />Ads,~"is,rat~^,r. o=n atcr.;znt of :lie g°sara :ty c>r msuranee :;f the ittdebted ness se. ,.; a•d kz . , Ly, X11 of which
<br />shall be itacludcKl in tlae decree of fox~+closure.
<br />19. if the indetrtetlness aecurFd hereby be gusrankerd or insarod under Title 38, Itnited States Code,
<br />such fiizle akd Regnlatiuns issued thereunder and in effort on the date hereof altal3 gosern the t•ightc, duties
<br />and liabilities of the parties hereto, and any provisiot,s of this or other instruments executed in connection
<br />wZth said inde+hfadneas which are incsnsistent tuith said Title or I:egulatians ;ue herehp amended to
<br />cnn#•otm thereto
<br />The ~eaants herein catttained shall bind, and the benefits and advantages shall inure to, the
<br />
|