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8. He shall not commit or permit waste;and shall maintain the property in se.good condition sa at present,
<br /> reasonable wear and tear excepted. Upon any failure so to maintain, Mortgagee, at its option, may cause
<br /> reasonable maintenance work to be performed at the cost of Mortgagor. Any amounts paid therefor by
<br /> Mortgagee shall bear interest at the rate provided for in the principal indebtedness,shall thereupon become
<br /> a part of the indebtedness secured by this instrument,ratably and on a parity with all other indebtedness
<br /> secured hereby,and shall be payable thirty(30)days after demand.
<br /> 7. He Will continuously maintain hazard insurance, Of such type or types and amounts as Mortgagee
<br /> may from time to time require, on the improvements now or hereafter on said premises, and except when
<br /> payment for all such premiums has theretofore been made under(a)of Paragraph 2 hereof,he will promptly
<br /> pay when due any premiums therefor. In default thereof, Mortgagee may pay the same. All insurance
<br /> #hall be carried in companies approved by the Mortgagee and the policies and renewals thereof shall be held
<br /> by the Mortgagee and have attached thereto low payable clauses in favor of and-in form acceptable to the
<br /> Mortgagee. In event of low,Mortgagor will give immediate notice by mail to the Mortgagee,who may make
<br /> proof of low if not made promptly by Mortgagor,and each insurance company concerned is hereby authorised
<br /> and directed to make payment for such low directly to the Mortgagee instead of to the Mortgagor and the
<br /> Mortgagee jointly. The insurance proceeds,or any part thereof,maybe applied by the Mortgagee at ite option
<br /> either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property dam-
<br /> aged. In event of foreclosure of this mortgage,or other transfer of title to the mortgaged property in extin-
<br /> guishment of the indebtedness secured hereby, all right, title and interest of the Mortgagor in and to any
<br /> insurance policies then in force shall paw to the purchaser or grantee.
<br /> 8. Upon the request of the Mortgagee,the Mortgagor shall execute and deliver a supplemental note or notes
<br /> for the sum or sums advanced by the Mortgagee for the alteration,modernization,improvement,maintenance,
<br /> or repair of said premises, for taxes or assessments against the same and for any other purpose elsewhere
<br /> authorized hereunder. Said note or notes shall be secured hereby on a parity with and as fully as if the advance
<br /> evidenced thereby were included in the note first described above. Said supplemental note or notes shall bear
<br /> interest at the rate provided for in the principal indebtedness and shall be payable in approximately equal
<br /> monthly payments for such period as may be agreed upon by the creditor and debtor. Failing to agree on the
<br /> maturity,the whole of the an-or sums so advanced shall be due and payable thirty(30)days after demand by
<br /> the creditor. In no event shall the maturity extend beyond the ultimate maturity of the note first described
<br /> above.
<br /> 9. If there is a default in any of the terms of this mortgage,or of the note secured hereby,all the rents,issuse
<br /> and profits of the mortgaged premises may thereafter be collected by the Mortgagee. Such right shall exist before
<br /> and after foreclosure and during the period of redemption.
<br /> 10. At Mortgagee's option, Mortgagor will pay a "late charge"not exceeding four per centum(4%)
<br /> of any installment when paid more than fifteen(15)days after the due date thereof to cover the extra
<br /> expense involved in handling delinquent payments, but such "late charge" shall not be payable out of
<br /> the proceeds of any sale made to satisfy the indebtedness secured hereby, unless such proceeds are
<br /> sufficient to discharge the entire indebtedness and all proper costs and expenses secured thereby.
<br /> If there be any default in this mortgage,or in the note secured hereby,the Mortgagee may,at its option,declare
<br /> all sums then owing by the Mortgagor immediately due and payable without notice;and the•Mortgagor hereby
<br /> authorizes and empowers the Mortgagee to an the mortgaged premises at public auction and convey the same to the
<br /> purchaser in fee simple(or such other estate,if any,as is stated hereinbefore) in accordance with the statutes of
<br /> Minnesota,and out of the moneys arising from such Bale,retain all euros secured hereby,together with all legal costs
<br /> and charges for such sale, a reasonable attorney's fee, and an amount sufficient to reimburse the Veterans
<br /> Administration for any sums paid by it on account of the guaranty or insurance of the indebtedness secured hereby
<br /> and to pay the balance,if any,to the Mortgagor; or the Mortgagee may enforce payment of such sums as are
<br /> declared due by foreclosure of this mortgage through the usual judicial proceedings.
<br /> If the indebtedness secured hereby be guaranteed or insured under Title 38,United States Code,such Title
<br /> and Regulations issued thereunder and in effect on the date hereof shall govern the rights, duties and liabilities
<br /> of the parties hereto,and any provisions of this or other instruments executed in connection with said indebted-
<br /> ness which are inconsistent with said Title or Regulations are hereby amended to conform thereto.
<br /> The Covenants herein contained shall bind,and the benefits and advantages shall inure to,the respective heirs,
<br /> executors,administrators,success=and assigns of the parties hereto. Whenever used,the singular number doll
<br /> include the plural,the plural the singular,and the use of any gender shall be applicable to all genders,and the term
<br /> Mortgagee shall include any payee of the indebtedness hereby secured or any transferee thereof whether by
<br /> operation of law or otherwise.
<br /> IN Tmlprn ONY Wm a mor, the Mortgagor(s) h&V*hereunto set the r hand(s) and seal(s) the day and
<br /> year first above written.
<br /> - -- - ----- ---- ------------ -
<br /> Y1111an E. N&rtin ---[asst]
<br /> Signed,sealed and delivered in presence of: ----[en]
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<br /> purleia ►isrtln
<br /> ---- ""_[ssetl
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