|
<br />6. If he fails to pay- any sum or keep any cotenant 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 tha above note, shsll be secured hereby, and shall bear interest wail paid at the rate provided
<br />for in the principal indebtedness.
<br />7. Lpon request of the itlortgagee, Mortgagor shall execute and deliver a supplemental note or notes
<br />for the sum or sums advanced by Mortgagee for the alteration, modernization, or improvement made at
<br />the 1lfartgagor's request; nr for maintenance of said premises, or for faces or assessments against the
<br />same, and for any olier purpwe elsewhere authorized hereunder- Said note ot• notes shall be secured
<br />here$~• on a parity tritli 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 nxonthh- paynteuts for such period as may
<br />~ be agreed upon by the _lortgagee and iliortgagUr. Failing to agree on the maturity, the whole of the sum
<br />or sums xi advaiced shall tie due antl payable thirty (Sill day-s sfter demand by the 1(urtgagee_ In no
<br />event shall the niaturitt extetid beyond the ultimate maturity of the note first described above-
<br />x. He hereby assigns, transfers and sets over to the'_liortgagee, to be applied totsard the paymeni of
<br />:~ 'the note and all sums secur<d hereby in case at a dafault in the performance of any- of the terms and condi-
<br />tiotis of this mortgage ar the said note, all the rents, revenues and income to be derived from the mort-
<br />~ gaged premises during such time as the me.•tgage indebtedness shall remain unpaid ;and the Mortgagee
<br />~ shall bare }wryer to appoint am agent or agen#s it may desire for the purpose of renting the same and col-
<br />lecting the ren#s, revenues and introme, and it may pay out of said incomes all necessary commissions and
<br />exlxnses incurred in renting axid managing the same and of rallecting rentals themfram; the balance
<br />remaining, if any, to lie applied tatcard the discharge of said mortgage uidebic~.inese.
<br />9. He will continuously maintain hazard insurance, of sorb type or Lylies and amount, as Alartgagee
<br />_- ~- t'rnn? lime to tbn.• r w;~xire: au the imnrarements nuts ar hereafter on said premises and except tchen
<br />payment far all such pc~~miums has Yheretafine been made fonder (al of paragzaiph °_ hec•eaf, isill pay
<br />ptomptlc when due ant pr<•niium_s therefor. Upon dafault tlten^af, Alortgagi*e Want pay- t}te same. Aii
<br />insura:ire slial3 be carri.~<t iii crompanies approved by the ~1lortgagee and the policies and renewals thenxif
<br />sly all ix held b the ~Sort~agee and have attached Thereto k~:s potable clauses in f=ivor of and in form
<br />a.Yepta$le to the 3lai•igagee. In event of Toss llortgag:=r tcill give immediate: notice ln- niai3 to the hiort-
<br />gag'ee- tvlia mar ma];e pt-m~f of lass if not made prampilt br Mortgagor, and each insurance company ~act-
<br />ez~rned i, hexebr autliariaed and directed to niake pay-meat far such las dsn~ilt to the \}ortgagee instead
<br />++f to the llartgagar and the Mortgagee jnirti}, and the insurance pi-c.c•eeds, or ant pari thereof,
<br />may be applied br rho MoM~gF~ at its option either to the reduction of the 3nsiebtedncc hereby secured
<br />.ir to the restoration or repair of the pra};erty danxagcri. Ir. event of forer]-uure .;: ibis mcntgage, or other
<br />tx-an_,fer r,f iit]e t<s the mn~ ~gagad property in extinguishment of il:e it:drbt,•:lne:.e ;Qi•ured hereby. all
<br />riglii, title and interest i+t• the ~iarigagor in and to any insurance pol;eie; then m itorce sitali ltsc, xo the
<br />put~haser ar graiitee.
<br />1t1. As dditiaxtal and collateral security far t}ie payment of the note d<•_rriha,l, :ntd all sums to heronie
<br />due under this matngtt~;e~. the 0}ortgagar botchy assigns to the \lortgagve all least horuses, profits. reve-
<br />nues, rayalt3a, righLC anti 3>ther benefits accruing to the _'4tortgagar under an and all oil and gas leases
<br />now, ar during file life :,f =.ltis mortgage, execut Kt an said pr,=miees, with the right to recr i~ e and receipt
<br />far the same and apply- tht,tt to saki indebtednea, as u-ell beiom as after default it; the conditions of this
<br />ni<.i tgage, and tl;e \9.+t tga,~ee may- demand, sue far and r<-rover ana- such payments when due and pag-
<br />alil<, but shall not -re ?•cyuirewi so to do, 'I4iia assignment is to tei-tninate and Dime null and tatid upon
<br />release of this inartgage.
<br />Ii. He stu.'Il net tYUitmit or permit waste; and shall maintain the property- in as i~wd ;-cinditian as at
<br />print, 3taatiriaL,le ~t=qtr and tear esee;nett. L`pon any failure to sa m.•tintaici, Martgagx, ai itil option,
<br />usatr tattoo caiastinahia maixitrixance work to be performed at the last of 3ir,rtgagt,r. .any amounts paid
<br />tkik•reior by Iitat4gagre shall bear intrerest at Lhe rate pnivided ft,r in the principal indrtitcllness, shall
<br />thereupon txt•atne a path of the indebtedness secured $y Lhis instrument. ratabl}- an,i oat a parity frith al!
<br />athrr indebtedness st<rure<i hereby, and shall be payable thirty {3t11 days after demand.
<br />I If t3ie premises, ctr any part *hexaof, be condemned under the patyer t,f eminent danxsin, or
<br />act3uit~d for a public use, the tixurages aaatded, the pre-x~avis for the taking of, ~r Llae consideration for
<br />It atguisitian, to t3ir gists nt of the fall anic>unt of Lhe remaining unpaid ind~,t,tednt~~ sec uteri by this
<br />inort~e, ar herelsy aassigtied to the 'lortgagee, and shall be paid fai•ihti ith tr, ;aid Mortgagee, to tie
<br />applied tai ae~uiutti of Ilie la_;t maturing irsctallinenis of such indebtedness.
<br />l3. If the \Itu-tgagar fait w make any payments when due, ar to eonfi=rm to and comply with any
<br />of tt:e mnditians ar agreemenis txintaixied in this mortgage, or the rats uhiih it secures, then the
<br />entire prixieipal noon and acerstd interest shall at once lit3-.time due and payablz•, at Lhe elution of the
<br />M,~r~; smd this tnartgagr may thereupaa be for~kisctd immetiiatPly nor the whole of -the indebted-
<br />. eons here~br seciired, in~3uding the test of extending the abstract of title from t}te date of this mart-
<br />gage to tbetiate of tc>inmeneing such soli, a reasonable attorneys fee, and any sums paid by the Veterans
<br />ad~=$trati:~n tui az~•°aunt of Ltie guaraaty° ar insurance of the iadi-liti•ciriss sc•i-tired h<•reby. ail of irhieh
<br />shall be inehtded in the decree of foirccsm.
<br />' li. If the secamd hereby be guaranteed ar insured under Title 538, L?nited States Code,
<br />' ouch Title and AegulaLlons issued thereunder and in effect an the :late hereof shall govern the rights, duties
<br />and Iisbilities of the parties hereto, and any provisions of this ar other instruments ext~uted in connection
<br />uifh said inde:bted~ea tchit:h one incsinais#.eatt with said Title ar Llegulatians are hereby amArded to
<br />toaform therein.
<br />Ttt+e cov+enattts herein stained shall hind, and the liene6ts and advantages shall inure to, the
<br />
|