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<br />' ~ 81-OU35f36
<br />4. That should he fail to pay any sum or keep any covenant provided for in this
<br />Mortgage, then the Mortgagee, at its option, may pay or perform the same, and ail
<br />expenditures so made shall be added to the principal sum owing on the above note, shall
<br />be secured hereby, and shall bear interest at the rate set forth in the said note, until
<br />paid.
<br />5. That he hereby assigns, transfers and sets over to the Mortgagee, to be applied
<br />toward the payment of tfie note and all sums secured hereby in case of a default in the
<br />perforn~ance of any of the terms and conditions of this Mortgage or the said note, all
<br />the rents, revenues and income to be derived from the mortgaged premises during such
<br />time as the mortgage indebtedness shall remain unpaid; and the Mortgagee shalt have
<br />power to appoint any agent or agents it may desire for the purpose of repairing said
<br />premises and of renting the same and collecting the rents, revenues and income, and it
<br />may pay out of said incomes all expenses of repairing said premises and necessary
<br />commissions and expenses incurred in renting and managing the same and of collecting
<br />rentals therefrom; the balance remaining, if any, to be applied toward the discharge of
<br />said mortgage indebtedness.
<br />6. That he will keep the improvements now existing or hereafter erected on the
<br />mortgaged property, insured as may be required from time to time by the Mortgagee
<br />against loss by fire and other hazards, casualties and contingencies in such amounts
<br />and for such periods as may be required by the Mortgagee and will pay promptly, when due,
<br />any premiums on such insurance provision for payment of which has not been made herein-
<br />tiefore. All insurance shall be carried in companies approved by the Mortgagee and the
<br />policies and renewals thereof shall be held by the Mortgagee and have attached thereto
<br />loss payable clauses in favor of and in form acceptable to the Mortgagee. In event of
<br />loss Mortgagor will give immediate notice by mail to the tortgagee, who may make proof
<br />of loss if not made promptly by Mortgagor, and each insurance company concerned is
<br />hereby authorized and directed to make payment for such loss directly to the Mortgagee
<br />instead of to the Mortgagor and the Mortgagee jointly, and the insurance proceeds, or
<br />any part thereof, may be applied by the tlortgagez at its option either to the reducti^n
<br />of the indebtedness he,<by secured or to the restoration cr repair of the property
<br />damaged. In event of foreclosure of this mortgage or other transfer of title to the
<br />mortgaged property in extinguishment of the indebtedness secured hereby, all right,
<br />title and interest of the Mortgagor in and to arty insurance policies then in force shall
<br />pass to the purchaser or grantee.
<br />7. That as additional and collateral security for the payment of the note described,
<br />and all sums to become due under this mortgage, the tiortyagor hereby assigns to the
<br />Mortgagee all profits, revenues, royalties, rights and benefits accruing to the
<br />Mortgagor under any and all oil and gas leases on said premises, with the right to
<br />receive and receipt for the same and apply them to said indebtedness as well as after
<br />default in the conditions of this mortgage, and the Mortgagee may demand, sue for and
<br />recover any such payments when due and payable, but shall not be required so to do.
<br />This assignment is to terminate and became null and void upon release of this mortgage.
<br />8. That the Mortgagor wit] keep the buildings upon said premises in good repair,
<br />and neither commit nor permit waste upon said land, nor suffer the said premises to be
<br />used for any unlawful purpose.
<br />9, That if the premises, or any part thereof, be condemned under the power of
<br />eminent domain, or acquired fora public use, the damages awarded, the proceeds for the
<br />taking of, or the consideration for such acquisition, to the extent of the full amount
<br />of indebtedness upon this nartgage and the note which is given to secure remaining unpaid,
<br />are hereby assigned by the Mortgagor to the Mortgagee, and shalt be paid forthwith to
<br />said Mortgagee to be applied by the latter on account of the next maturing installment
<br />of such indebtedness
<br />The covenants herein contained shall bind, and the benefits and advantages shalt
<br />insure to, the respective heirs, executors, administrators, successors and assigns of
<br />the Parties hereto. Whenever used, the singular number shall include the plural, the
<br />plural the singular, and the use of any gender shall be applicable to all genders.
<br />The foregoing conditions, all and singular, being performed aecordina to their
<br />natural and legal import, this conveyance shall be void and said premises released at the
<br />expense of the Mortgagor; otherwise to be and remain in full force and effect.
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