|
<br />~~- ~,'~
<br />6. If he fails to pap arc sum or keep any covenant provided fm• in this mortgage, the Mortgagee, at
<br />its option, may pay or perform the same, and ail 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 lortgagee, iliortgagor shall execute and detivet• a supplemental note or notes
<br />for the sum or sums advanced by 3ortgagee for the alteration, modernization, or improvement made at
<br />the Riortgagor's request; or for maintenance of said premises, or for taxes or assessments against the
<br />same, and for anY oihet• purpose elsewhere authorized hereunder. 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 />described above. Said supplemental Hate or Holes shad bear interest at the rate provided for in the prin-
<br />cipal indebtedness at7d shall be payable in appt•oximatelr equal monthly payments for such period as may
<br />be agreed upon by the liartgagee and Diortgagor. Failing to agree on the maturity, the whole of the sum
<br />e:r sums so advanced shall be due at7d payable thirty (,i0) days after demand by the ortgagee. In no
<br />event shall the maturity extend beyond the uliitnate maturity of the note first described above.
<br />$. He hereby assigns, transfers and sets over to the Riortgagee, to be applied toward the payment of
<br />the note and all sums s<>enred hereby in case of a default in the performance of any of the terms and condi-
<br />xiotts of this mortgage or the ,aid Hate, all the rents, revenues and income to be derived from the mort-
<br />gaged premises during sue}~ time as the mortgage indebtedness shall remain unpaid; and the 3ortgagee
<br />shall pace power to appoint any agent or agents it may desire for the purpose of renting the same and col-
<br />lec#ing the rents, revenues and income, and it may pay- ant of said incomes all necessary commissions and
<br />exl~nses incurred in renting and managing the same and of callecting rentals therefrom; the balance
<br />remaining, if any, to be applied toward the discharge of said mortgage indebtedness.
<br />~. ria wI1 caminnous~• maintain 'r_azat•d insurance, of such type or topes and amount.: a_s lortgagee
<br />mar from time tr, time r v~uire, 077 the improvements nativ or hereafter on said premises and except tchen
<br />lutymeRt for all such pr~•77tiun:s has thernt<afore been made under (a.) of paragraph '~ hereof, will paY
<br />promptly r-hett due am- pentiums therefor. LTlwn default thereof, Afortgagee may paY the s.3itte. All
<br />insurance shal3 be carried in companies apgr+av ~ by the 'mortgagee and the policies and renewals thereof
<br />,hall be held by the .fiat-igagee and have attached thereto loss payable clauses in favor of and in form
<br />acceptable Io the 'rortgagee. In event of iris '_liortgagor will give izntnediate notice by mail to the Mort-
<br />gagee, tivha mac make proof of lass if not trade pratttptly bY'_liartgagor, and each insurance company con-
<br />cerned is h~-reby suthorirc~l ;:uj directed 20 make pacmes,t far such loss directly- to the Jortgagee instead
<br />of to the Morgagar ;;mi the ~1ortQagi~ faintly, and the insurance proc•eecls. or any part ther+~of,
<br />tray be applied by the Mortgagee at its aption either to rite reduction of the indebtedness herehY secured
<br />or to the re• oration or repair of L§e pr<+,<>rtt damaged. In event <~f fam~lcuurz> of tiai. mortgage, ur ether
<br />transfer ni title to tl:e -7nu:tag<~ pre,pertY in extinguishment of the indebteclnc~ss s<~ured hereby, all
<br />rigitt, title and suterest ix tte Riortgag«r SR and to anY insurance policies than in farce shall pan io the
<br />purchaser or grantee.
<br />lil. As additi<arai and collateral sez urity =or the pacment of the note;lesi•r:Lk~-1. _;t:~l all ,ums to become
<br />Clue under this marig;v~<~, the A'ior2gagor h~t~by a_zsigns to the 9'tortgagee aH lease bonuses, prnfits, reve-
<br />nu~, roY°altias, rights, and ether benefts aecruittg to rite 'Sortgagor under any and all 071 an' gas leases
<br />zacex-, oz during the life r+f this mortgage, e-~:ecuted sot: said premises, frith the right to receive aRd receipt
<br />for the same and apply' them to said indebtedness as well before a, after drfaalt in the conditions of this
<br />martgagz and the 39ct•tgag,-e mar demand, sue for and rctrover env such payments when due and pay-
<br />able, but shall Hat be tc-uuir,•;1 so to da. Th=v ar~~;g~ -~ * ;, ,,,. ,,,,ate ar,d'.,e<°°r+,,; - - '
<br />_m: n..- to t°'^""' <- :7ui, and cold lIpOR
<br />reiea-tip tf ti77s mortgage_ -
<br />31- Ile shall Hat txnm7it ar permit tcaste; and shall maintain rho property in as g<tai3 eundition as at
<br />present, rrastu7abie wear and tear excepted. Upon suy failure to so maintain, MartS;agee, at its option,
<br />ma;- rsttse reasZ~nab}e ntainte Hance ~var3t tx> be perfumed at the Bost of Ric:rtgagc,r. Aaty amauut, paid
<br />ihc~refot• by Rd7u•tga~ee slt;~i] 1_xar internst at the rate provided fur its the principal indebtedness, shall
<br />t_hrreupc:t_ t~rnme a 1,ar2 of the indebtedness secur~rd by this instrument, ratably- and on a parity with all
<br />other in+3ebtednrss secutt d hereby, attd stall be payable thief}' {ail) days after demand.
<br />1?. if t}te pt~ntises, or anY part them?f, be condemned under the power of eminent domain, nr
<br />ac,3uin-d ft,r a pubiii u:~, II.e damages aa-arded, thz prcc-o<=ds fnr the taking af, ar the consideration £or
<br />suelt aequivtion, to tlae extc7at of the full amount ci the remaining unpaid indebtedness scouted by this
<br />mortgage, or hereby- assigned to the INartgagre, and shall be paid forthwith to said Mortgagee, to be
<br />applied cut a4°ec3uui ~~f tl:e Iasi tr7aturing installment3 of such indebtedness.
<br />13. I; the Rio7:gagc+r fails to make any pat•ntents ~c-hen due, or to ccu7frat•m to and comply with any
<br />of lire conditions or agreemexrts contained in this mortgage, or the notes :<hich it secures, then the
<br />entire principal sum and akrned interest shall at once become due and payable-, at the election of tl7e
<br />'Riortgagze; and this mortgage may thereupan be fc,mclosad immediately for the whole of the indebted-
<br />n~s het~Uy seruri•d, including the cost of extending the abatrart of tit_ta !'run; the date of this mart-
<br />gage krt tfie time of etunmeneing suzl7 suit, s reasonable attorne}'s fee. and any' sums paid by ilte i'etcrrans
<br />AdmiarstratioR oa ai.count of the guaranty or innuratate of the irdebiednes., secured Iter<-by>, al] of tehich
<br />mall bexucltaded in the decree of fott~clc~ttre.
<br />1-#. If the ittdal~irtess secured hereb3• be gaaraa7te«t nr insured under Title 3R, Itnited States Code.
<br />such TitJa attd 7'laGiotta isstxd thetrttader and in eff~t on the date hereof shalt gcn•ern the rights, duties
<br />and Ii~tbilita~ of Ibe parties het~etct, and any provisions of this or other instruments executed in ronncK•tion
<br />with seed indebtsdr~ss which are ittcxsaszstent ;vith .said Title or Ixegulations are hereby :m7ended to
<br />conform theretn_
<br />'Flee cati°eaaats herein caataitted stall bind, and the benefits an+I advantages shalt inure to, the
<br />
|