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<br /> ' #�ti� (U If unJ so lung ns snid nolc ol evcn d:ue anJ Ihis inslrumeN ero insurcJ or arc rcinsuaJ undcr Ihe prnvisinns uf Ihc Nationul Iluusiny Acl, un
<br /> umounl sWticient tu uccumulxle in Ihe hmiJs af !he holJer one U) munth pdnr lu ils Jue Julc Ibe unnuul morlgage insuruncc prcmium in orJcr to
<br /> provlJe such holJcr wilh funJs 1u pay such prcmium lu Ihe Surctary nl Hmuinp anJ Urbtn ikvdnpment purswml to Ihc Nutinnul Ilowing Acl,
<br /> us amcnded. unJ apD���able Rcgtdnlions Ihmc�mJer, or
<br /> � IIb If nnd so IonF ns suid natc ol even dmm �nd ihis inslmment nrc helJ by Ihe tiecrclary uf flomir.N nnJ Urbun fkvdopmau, u mnmhly chnrge lin
<br /> Iieu of a mar�gape inmrunec premiuml whirh shull lu in an amuunl eyuul lu onrlwdflh (Ilil) uf nne�hxif 111]) per ccnlum uf Ihc nveruge oul�
<br /> alanJing lralance Jue on Ihc notc computcd wilhuul luking inlu uccounl Jclinyurncies nr prepaymeNs;
<br /> � 1lr) A sum eyunl to the ground «ms, i( uny, nezl due, plue Ihe picmiums �hul will ne�t lKcome due and payuble un pilicics u( fire and oiher huiarJ ineurmice
<br /> � coviring the mortgegcJ prupeny, plus laxes unJ assessmenls nekt Jut un thc morlgag<J properly (ull as estimuled by tht Morlgagcc) less ull sUms al•
<br /> � ready puiJ therefor divided by ihe number uf monlhs m elapse be(ure one monlh prior tu the dnte when such �unund reNs. premiums, �uxes ond ussess• �
<br /> � � menls will l+ecome Jelinquent, euch sumn Iu be heW by Mungagce in irus� m puy saiJ grounJ «ms. premiume, laRes unJ speciol assessmenls; and
<br /> . /r) All puymenls menliuned in Ihe Iwa prcecdinN subsecliuns uf Ihit paruyraph unJ ull paymenls lo bc maJe unJor Ihe note sr[ureJ hereby ihull be adJeJ
<br /> . �ogelher. and 1he ag3regate umounl thcreof shall Ix paiJ by Ihe Morlgugor each munth in o single puym<nl lu h< upplicd by Ihe Mongugee �o Ihe folluw�
<br /> ; . ing i�ems in �he orJer xi lonh:
<br /> . III premium chutges under Ihe conlracl of insuranre N�ilb Ih< Secrelury nf Hoveing anJ Urbnn IRvelupmenl, Ot mnnlhly charpe lin licu of monguge
<br /> � insurance ptemium), as Ihe cuse mUy Lu;
<br />� . � 111) sround aNs� loses. assnime�ls� lirc anJ other hururJ inmronce prcmiums:
<br /> 11II) inlcrost on Ih< nute saurcd hrrchy; and
<br /> { OVI pmurlizxlion nf Ihe principal of said nnle.
<br /> Any Jeficiency in �he umuunt o( any such aggregule momhly paymenl shall, unkss mnJe gund by the Alorlgaqnr prior lu Ihe duc dUle ul �he nexl such
<br /> , paYmenL constiluit un evenl of defaull unJcr Ihis murlyge. 'fhe Mongugr< may collcct a "lale dmrF��� nol lu excecJ Iwu cents I:C) for aach Jollur (Sq
<br /> i � ufeuchpaymenlmorclhanlifteenUS) Jaysinarearstocuvenheexlt:iupensoinvolveJinhundlingJelinyucnlpaymcnts.
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<br /> 3. 'f'ihat if the tot:;l o( thc payments m�ide by �hc Alortgagor undcr ( b) of p;irigraph 2 prcceding sh.Jl exceed thc amount of
<br /> payments actually made by the Mortgagee tor �round renls, taxes and assessments or insurance premiums, as the c:ise may be. �
<br /> such excess, at the option of ihe A4ortgagee, shall be credited by ihe Alorlgagee on subsequent payments to be m�ide by the
<br /> ` hlortgagor, or refunded Io ihe Morigagor. If, howevcr, Ihc moNhly paymenls m�ide by the hlurigagor under (b) of paragraph :
<br /> � preceding shall not be suliicient to pay ground rents, taxes .md assessments or insurance premiums, as the case may be, when
<br /> ;' the same shall become due anJ payablc , then ihe Mortgagor shnll pay to ihe Morigagee :my amount necessary to make up the
<br /> ; deficiency, on or before the d;de when payment o( such grounJ rents, lases, vssessments or insurance premiums sh.dl be due. If
<br /> i; al any lime Ihe Mortgagor shall tender to the Mortgagce, in accord�mce with the provisions of the note secured herehy, full
<br /> paymem o( the entire inJehtedness represented therehy, Ihe Mortgagee shall , in cumputing the amount oF such indebtedness,
<br /> i; credit to the account ot �he Mortgagor all payments made under Ihe provisions of (a) o( paragraph _' hercot which ihe Morlgagee
<br /> has not lxcome obligated tn pay to the Secretury ot Housing :md Urban Development and uny balance remaining in the funds
<br /> accumul�ued under the provisions ot 16) of parigraph Z hereoL If there shall be a default under any of the provisions o[ this
<br /> morigage resulting in a public s,de uf the premises covercJ hereby, ur if the Mortgagee aeyuires thc property othenvise after
<br /> Je(ault, the Mortgagee shall apply , at Ihe Iime u( lhe commencemeM of sueh proceeJings, ar at the time ihe property is other-
<br /> wise acquired. the balanca Ihen remaining in 1he funJs accumulu�ed under (b� nf paragraph 2 prcceding, as a credit ag.�inst the
<br /> � amount of principal then rem.{ining unpaiJ undcr said note, anJ shall properly aJjust any payments which shall have heen made
<br /> under �a) of paragraph 2.
<br /> 4. 7'hat �he Mongagor wiil pay ground rents, �axes, assessments, water r,�tes, and oiher goacrnment�d or municipal
<br /> charges, fines, or impositions, for which provision has not been made hereinbe(ore , and in def�mit �hereo( the Alorlgagee mxy
<br /> pay the xame ; and that the Mortgagor will promptly dclivcr the otlicial reccipts Ihcrefor to ihe Mortgagee.
<br /> $. 'I'he Mortgagur will p�iy all laxes which may be Icvied upon the Mor�gagec 's inlerest in stiid real csta�te and improve-
<br /> �, menis, and which m.ry be IevieJ upon this murtgage or the debt secured hereby (but onty tu the extent ihat such is nal prohibit-
<br /> `- ed by faw :md only to the cxtent thnt such will not make this loan usurious), but excluding any income �ax . State or Federal,
<br /> impused on Mortgagee , and will file the o0ici;d teceipt showing �uch payment with the Mortgagee . Upon violation of this under-
<br /> taking, or if �he Mor�gagor is prohibited by �my law now or herca(ter exisling from paying Ihe wholc or any portion ot Ihe afore-
<br /> ' saiJ taxas, or upun the rendering of :my courl decree prohibiting �he p�iyment by the Mortgagor or any such taxes, or if such law
<br /> or decree provides tha: any amoum so p.�id by ihe A1ortgagur shall bc creditcd un the mortgage debt , the �longagee shail havc
<br /> � ihc rghi �o give ninely days' written no�ice to the owner of the mnrtgageJ premises , recpiiring the payment of �he mortga�;e
<br /> debt . If such notice be given , ihe said debt sh:dl become Juc, payahle and collcctihle at the expira�ion o( said ninery J;rys.
<br /> 6. 9'hat should hc tail to pay :my sum or kcep any covenant prmided for in this Mortgage , dren ihe Murigagec , at its up-
<br /> �ion , may p;ry or perform ihe samc , and all expenJitures su madc shall be .idded to the princip:d sum owing on the above nolc ,
<br /> shail be secureJ hereby , :+nJ sh.i!I hcar intcrest at the rate set torth in �he said nutc , until paid .
<br /> 7. Thsd he hereby assigns, trnnsfers and seis ovcr lo the Morlgagce , to he applied tow;irJ the paymem of the nute and .dl
<br /> sums secured hereby in case of a defnult in the perfurmance uf any of the terms ;md condiliuns of this Alortgage ur Ihe said
<br /> notc, all �he rents, revenues anJ income �o be derived from ihe mortgaged premises during such time as the mnr�gage indebled-
<br /> ness shall rem��in unpaid ; anJ the Mortgagce sh:dl h�rve power lo �ippoint any ageN or agents i� m:iy desire for the purpose of
<br /> repairing said premises and ot renting thc same and collec�ing the rents , reaenues and income, and it mny pay out of said in-
<br /> comes aU expenses of repairing said premises .md necessary cummissions and expenses incurred in renting ;mJ managing the
<br /> same anJ o( collecting remals therefrom ; the balance remaining, if any, lu be :ipplieJ tow��rJ Ihe dischurge of said mortgage
<br /> inJebtedness.
<br /> 8. That he will kcep the improvements now cxisting on c�rcafter erecteJ un ihe mor�gaged property, insureJ as may be
<br /> nyuircJ frnm time lo �ime by the �forlgagce against loss by fire ;mJ other I7.IZefllti , C:ISl18I11Cti and con�ingencics in such
<br /> ;�mounts :md for such perioJs as m.�y bc reyuired hy ihe �torigagce anel will p:�y promptly, when due . :my premiums on such
<br /> insurancc provision fur paymeni of which has nw hccn m:iJe hcreinbefure. All insurancc shall bc carried in companics ap-
<br /> proveJ by the Morlgagee and the policics :md «ncwals thcreof shall bc heid b}� the A1ortg;igee and h�+ve altachcd �hereto loss
<br /> payablc clauses in favor o( :mJ in furm acceplable lo �hc I�torlg�igec . In event of loss Murlgagor will give immediate notice hy
<br /> mail to lhe Mortgagee. who may make proof o( loss if not made promptly hy Mortg:igor, and each insurance cump.my con-
<br /> cerned is hereby aulhoriud anJ directcd ro m;�ke paymen[ for such loss dircctly to the Murtgagee inriead of to Ihc Mortgagor
<br /> ` :md the Mortga�ee jointly, and ihc insurance procecds , or any p.ut thcrrnf, may be applieJ hy ihe �tongagee at its option either
<br /> ,� to the reductiun of ihe indebteJness hereby secureJ ur to thc resluru�ion or repair of the proper�y damaged . lo evem of foreclu-
<br /> sure of this mortgage or o�t�er iransfer ut �i11c W ihe mortgaged properly in extinguishmen� of Ihe inJebicJness secured herehy,
<br /> sdl right, ti�le .md in�erest of �he ,4for�gagor in anJ tu any insur;mce policies Ihen in force shall pass tu �hc purchaser or grantec.
<br /> 9. That as uJditional �nd collalerai sccuriiy for thc paymcnt of thc note described , :md �dl sums �o hecome due imdcr this
<br /> mortgagc, the Alortgagor herehy assigns to the Atortgagee all proli�s , rcvcnucs , royalties, rights and hcnefilx accruing Io thc
<br /> �. Mortgagor under any and all oil and gas leases on said prcmises, wilh the righ� to rcceivr and receipt for the tiame and apply
<br /> 1 them �o said indebtedness as wcll before as .iher defaull in thc conditions of ihis mortgagc , and lhe �lortgagce may dcm:mJ , suc
<br /> (or and recovcr any such paymenls whcn duc and payahle , hut shall not be rcyuircd so �o do. 'I'his assignment is to terminaic
<br /> j �mJ become null und void upon rclease o( this mortgagc.
<br /> : 10. That thc hlor�gugor will kcep the buildings upon saiJ prcmises in good rep:iir, and neither commi� nor permit « :islc
<br /> y upon saiJ IanJ, nor su(fer ihe said premiscs lo be useJ for any unlawful purpose .
<br /> i I1 . That if �he premises, ur any part Ihermf. be condemneJ under thr powcr oF eminent Jumain, or acyuired for a public
<br /> ? use , Ihe damuges awarJed , ihe proceeds for �he luking of, or the consideration for such :icyuisili�m, lo Ihe e.tlenl of the futl
<br /> �;;r I amount of indebtednes upon this mor�gage anJ �he note w�hich it is given tu sccure rem�iining unp�iiJ , arc herchy ;issigncJ by the
<br /> ,%'�'� M1tortgagor to the hlur�gagee , and shall be p�iid (orlhwilh to saiJ Mor�gtigee lo he �ipplied hy the laller on :iccounl af �he ne.el
<br /> ' ^ ,�:� maluring installments of such inJebtedness .
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