|
Sri' _" ~E , ~'~a~dagd
<br />81--UU300~ S2--f)()~7~
<br />6. Ef Ile fails to pay any sum or keep any covenant provided for in this mortgage, the Mortgagee, st
<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, sha}1 be secured hereby, and shall hear interest until paid at the rate provided
<br />far in the principal indebtedness.
<br />7. TJpon request of the Mortgagee, Mortgagor shall execute and deliver a supplemental note or notes
<br />for the sum or soma advanced by Mortgagee for Cite aiteratian, modernization, or improvement made at
<br />the Mortgagor's request; ar for maintenance of said premises, ar for taxes ar assessments against the
<br />same, and for any ether purpose elsewhere autharized 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 is the xsote first
<br />described above. Said supplemental note or notes shall bear interest at the rate provided for itt the prin-
<br />cipal indebtedness and steal! be payable in approximately equal manthly payments for such period as may
<br />fie agretKl upon by the iiartgagee and Mortgagor. Fr~ling to agree on the maturity, the whole of the sum
<br />os sums so advanced shalt ire due and payable thirty (34j day~a after demand by the Mortgagee. In no
<br />event shall the maturity extend beyond the ultimate maturii; of the note first described above.
<br />3. He hereby assii;tts, transfers and sets aver trs the Mortgagee, to be applied reward the payment of
<br />the Hate and aI3 sums serureci hereby incase of a default in the performance of any of the terms and condi-
<br />tia»s rsf this mortgage ar the said note, al} the tints, revenues and income to tre derived from the mort-
<br />gaged premises during such time as the mortgage indebtedness shalt remain unpaid; and the Mortgagee
<br />shall have powez to appoint any agent ar agents it may desire far the purpose of renting the same and col-
<br />lecting the rents, revenues and itt~ame, and it may pay out of said ineames 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 tsr= appiifrd ta»•ard the discharge of said mortgage indebtedness.
<br />9. lie :€ill rnntinuatssiyy maintain hazard insurance, of such type or types and amounts as bfartgagee
<br />may from time to time rcY~~.3irP, on the improvements new or hereafter ott said premisr~s and except when
<br />payment far all such prf°miutns has theretofore been made under (al of paragraph 3 hereof, will pay
<br />promptly when due any pr+>ntiuttts therefor, i?pan default thereof. Mortgagee map pay fhe same. Ali
<br />Fnsurance strati be carried in Companies appravcvi by the liartgagee and the {x,Iieies and renewals thereof
<br />:,trtdt kxr held by the Mr;rttagee and bare attached thereto Ic>&a payable claliu?s :n f aver of and in form
<br />acrcptable to Cite ~4ortgagr~. In event of loss 33ortKagar u•tl{ glee imrnt•riiatP ttastirP by mail to the Mort-
<br />gagec•, who fnay make ,+r*x+f of lass i f not made promptly by i4iartgagor. and ca€•1+ insurance asmpany con-
<br />cerned is It€aeby autltartzcgi an+I directcart to make payment for such Irzss +iirocl l= to the Elartgagee instead
<br />of ku the llarigagor and the ~lartgagee ;ointly, :end the insurance proi•eP<i<. ur an}• part thereof.
<br />rna)- he applicsti hr the kto~gagee .,L its option etihPr to the r:~lurtion of rite iudr~b[Pdness hereby secnrerl
<br />or to the restaraiiisn sr :•epair ref t}ir property damaged. In err-nt. c,€ i+are=r.kwtFr.~ +,C this mortgage. +sr ether
<br />transfer csf ±itle tc; th.~ :n+*rt~tged {ar3perty in extinguishment *.,i the iredf•tzu,{ai•= ,;ecitrPd iterebg, ai:
<br />rtitht, title and interest =sf thf' :kierrtgagrsr in attd to xny insrtrrnc.~ fxslitrsPS t{s+•n Sn furc:P shall pass to the
<br />purettaser or granter?.
<br />14_ As adrlitianal and coliatrrxi serttriiy tar the 1>aymcnt of rite note-d=_•scrilx>d, anti cdl sums te, I~came
<br />due under ttsis mortg:sgc, the? Martgagrsr hereby :t,xignn trs the ilarigagee sit t+=ase• I}onus€-a, profit . r€=r•e-
<br />nu~, 3-csyaltirs, rights. and e+thrr henetlts acertting tE~ ilte yturtgugar nnder anc• sad all oil anti gas IP_ascs
<br />no~r• ar iinring the {lie rtf tills m+tNgage, Executed on ~atd psr•misea, ivrth the sight to rec'.eive and receipt
<br />far the same and apph them trs sazt: indebtcYiness et8 ui.il isrfore ax att4=r ,iefauYt ;n the conditficsns of this
<br />tt~rtgaKe.:tttd rite Sf+?rtg_ er~~ !nay demand. suc• [ssr anfl rr>zov.?r any auett pa~-mc'nts u-lt+~n due. and pay-
<br />abI•_, tsut ,halt Hat lx• :,~e;us,+~: sa in do. 'Phis a.'xsignmertt s tie terminate and t~~ome Holt and void upon
<br />relr~ast• of this mortgage .
<br />ti. H~e shat! nut rammit .,r Cx~rrntt waste; and shall maintain ttte property in as gcxxl canditian as at
<br />present, reasonable urar ~tnd Lear exeepted. I'pisn arty Cailure io su maintain, 13artgagee, at its option.
<br />may eauae reasfsnatsie' maintenance work trs be performed at the cost :rf 3lortgagar. any amounts paid
<br />tlteretrrr by Mat-Egayree eFhal{ It<ar inters-st at the rate pravidNd for in the principal inciebtt•€iness, shall
<br />thereupon tx•come a kart of the indet>tedttc=sa secured ksy thix instrument, ratalsly and an x parity »•ith all
<br />tstlter iniltt4btedness xeeured hemby, snd shall be payable thirty (.341 days after demand.
<br />12. t£ the premises, nr ,zny part thereof, ls+: rondemni~ci under the {xra•er o£ eminent domain, ar
<br />acrtuirecl far a public oar, the damages awarded, the pracee~€ls for tPee taking of, ar th€r cansicleration for
<br />snr:h acgnkKltlttP., tit L}1f' etLent t!f the fin`s amannt of the remaining Unpaid [ndel)tednr'!c9 :tf?€'n!'Pd by Chia
<br />tnrtrtgage. ar her±•ktr a=c+i}tneri ka the Mortgage, and shall Lre paid forthevith in sal€i 3tartgagtee, to be
<br />appiiftd on aceissrnt of the Iast maturing inst:rittt~nts of such indebtedness.
<br />t$. If the Mattgagcsr fails to make erg- layments when due, ar to conform to and comply with any
<br />of tiro conditiana or agreements eantained in this m+srtgage, or rite: nrstes which it secures, then the
<br />entire principal sum anti accrued interest shall at anc~ be€:onte due and payable, at the elrrtitsn of rho
<br />'.Misrtg: and thtri mortgage may thereuptsn be foreclctsad immc-rtiately fist the. wha1F csf the indebted-
<br />nsYsa hereby see•urc•€i, including the cast of «,xterrtding the abstrat;t of title Pram the date of this mort-
<br />to the ti elf t°ottttnrnci^g such suit, a rea,rznable attnrney's f~, anti any vents {said lay the 1'eterans
<br />Admsinistratirsu +tn a~risant of the guaranty asr insurance=ot the ittdebtedn+•se se+~ured hr•rcby, ail of wlxich
<br />mall tse inehtdsai to tie d~r~ of foreeloaure.
<br />2 f. tf the it~elne;ias sectss~erl heretsy be guarantertid ssr i:,surcd under Title :3}3, L'niteil States C€!de,
<br />xterh ?itle set! ~tionx tsauett theta-under and in afft~t an th.; hate hen•e~€,f shalt gvvet•n rite rtgttta, duties
<br />xetd liataifiiies of tb+a partite hereto, and any prnvistions of l.his tzr tsther instruments executed iu ronneetirsn
<br />with a°ittdttbted+r~sts which at`a ittcotsss'steet wtth said `Pine ae F.egttlatians are hereby amendt'tl ea
<br />fcri^et thereto.
<br />"else ~ttta htreein exetttaittrxi shall bind, and the tsenefits anti arff-antages shall inutw tt>. the
<br />
|