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<br />g~.~ 000447
<br />8. If he faits to pay any sum or keep any covenant provided for in this mortgage, the Mortgagee, at
<br />its option, may pay ar perform the same, and all expenditures so made shall be added to the principal sum
<br />owing an the above note, shall be secured hereby, and shall bear interest until paid at the rate provided
<br />forin t:;e princi,„,1 indebt~'neso°°.
<br />I ?. tiTpor. ~•~t of the Mortgagee, Mortgagor shall execute and deliver a supplemental note or Hates
<br />i
<br />far the sum or sums advanced by Mortgagee for the alteration, modernization, or improvement made at
<br />the Mart,;agGr's request; or for maintenance of said premises; or for taxes or assessments against the
<br />saute, and far any other 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 note or notes shall bear interest at the rate provided for in the prin-
<br />ci~l 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 soma 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 applied toward the payment of
<br />the note.and all soma 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 moat`
<br />gaged premises during such time as the mort~#ge indebtedness shall remain unpaid; and the Mortgagee
<br />shall have power to appoint any agent or agents it may desire for 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 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 ss Mo. eg,~~
<br />may frog. time to time renuire, on the improvements now or hereafter on said premises and except when
<br />payment for ail such premiums has theretofore been made under id) of paragraph Z hereof, will pay
<br />promptly wltext due any premiums therefor. Upon default thereof, Mortgagee may pay the same. All
<br />insurance shall be carried in companies approved by the Mortgagee and the policies and renewals thereof
<br />shat be held by the Mortgagee and have attached thereto loss payable clauses in favor of and in form
<br />acceptable to the Mortgagee. In event of loss Mortgagor will give immediate notice by mail to the Mort-
<br />gagee, who may make proof of loss if not made promptly by Mortgagor, and each insurance company con-
<br />cerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead
<br />of to the 1'Iortgagor and the Mortgagee 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 restoration or 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 farce shall pass to the
<br />purchaser or grantee.
<br />10. As additional and collateral security far the payment of the note described, and all sums to become
<br />due under this mortgage, the Mortgagor hereby assigns to the Mortgagee all lease bonuses, profits, reve-
<br />n~es, royalties, rights, and other benefits accruing to the Mortgagor under any and all oil and gas leases
<br />Haw, or daring the life of this mortgage, executed on said premises, will. the right to receive and receipt
<br />for the sane and apply them to said indebtedness as well before as after default in the conditions of this
<br />mortgage, and the Mortgagee may demand, sue for and recover any such payments when due and pay-
<br />able, but shall not be required so to do. This assignment is to terminate and become null and void upon
<br />release of this mortgage.
<br />il. He shall not commit or permit waste; and shall maintain the property in as good condition as at
<br />present, reasonable wear and tear excepted. Upon ang failure to so maintain, Mortgagee, at its option,
<br />may cause reasonable maintenance work to be performed at the cost of Mortgagor. Any amounts paid
<br />therefor by Bortgagee shall bear interest at the rate provided for in the principal indebtedness, shall
<br />thereupon become a part of the indebtedness secured by this instrument, rratabiy and on a parity with all
<br />other indebtedness secured hereby, and shtsTl be payable thirty (30} days after demand.
<br />12. If the premises, or any part thereof, be condemned under the power of eminent domain, or
<br />acquired for a public use, the damages awarded, the proceeds for the taking of, or the cansicleration for
<br />such acquisition, to the extent of the full amount of the remaining unpaid indebtedness secured by this
<br />mortgage, or hereby assigned to the Mortgagee, and shall be paid forthwith to said Mortgagee, to he
<br />applied on acci~urrt at the last maturing installments of such indebtedness.
<br />13. If the Mortgagor fails to make any payments when due, or to conform to and comply with any
<br />of the conditions or agreements contained in this mortgage, or the notes .which it secures, then the
<br />eatire principal sum and accrued interest shalt at once become due and payable, at the election of the
<br />Morta--age:;; and thi$ mortgage may thereupon be foreclosed immediately for the whole of the indebted-
<br />ness hereby secured, including the cost of extending the abstract of title frnm the date of this morf.-
<br />gage to the time of commencing such suit, a reasonable attorney's fee, and any sums paid by the Veterans
<br />Administration ou aecaant of the guaranty or insurance of the indebtedness secured herEby, alt of which
<br />anal! be included in the decree of forx~sure.
<br />14. if the indebtedness secured hereby be guaranteed or insured under Title 88, Lnited States Carle,
<br />such Title and Regulations issued thereunder and in effect ou the date hereof shall govern the rights, duties
<br />and liabilities of the parties hereto, and any provisions of this or other instruments executed in connection
<br />wide ssit3 indebtedness. which are inennaistent with said Title or hegulations are•hereby amended to
<br />cnnforrn thereto.
<br />The cwvenant$ herein contained shalt bind, and the benefrts aced advantages shall inure to, the
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