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- .fs..a r L.. x.;.100701 (a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable on policies of fire and other hazard insurance covering the property, plus taxes and assessments next due on the property (all as estimated by the Lender) less all sums already paid therefor divided by the number of months to elapse before one (1) month prior to the date when such ground rents, premiums, taxes and assessments will become delinquent, such sums to be held by Lender in trust to pay said ground rents, premiums, taxes and special assessments; anti (b) All payments mentioned in the preceding subsection of this paragraph and all payments to be made under the note secured hereby shall be added together, and the aggregate amount thereof shall be paid by the Borrower each month in a single payment to ,be applied by the Lender to the following items in the order set forth: (1) ground rents, taxes, assessments, fire and other hazard insurance premiums; (11) interest on the note secured hereby; and (M) amortizatio -ri of the principal of said note. Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the Borrower prior to ; the due date of the next such payment. constitute an event of default under this mortgage. The Lender may collect a "late charge" not to exceed four cents (4e*) for each dollar ($I) of each payment more than fifteen (15) days in arrears to cover the extra expense. iamOved ;in handling delinquent payments. 3. That if the tots of the payments made by the Borrower under (a) of paragraph 2 preceding shall exceed the amount of payments actually made by the Lender for ground rents, taxes and assessments or insurance premiums, as the case may lie, such execss, if the Ioan is current, at the option of the Borrower, shall be credited by the Lender on subsequent payments to be made by the Borrower, or refunded to the Borrower. If. however, the monthly payments made by the Borrower under (a) of paragraph 2 preceding shall not be sufficient to pay ground rents. taxes and assessments or insurance premiums. as the case may be. when the same shall become due and payable. then the Borrower shall pay to the Lender any amount necessary to make up the deficiency, onor.befote*tite date when payment of such ground rents. taxes, assessments, or insurance premiums shall be due, If at any : .tints the Borrower shall tender to the Lender, in accordance with the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the Lender shall, in computing, the amount of such in- debtedness. credit to the account o(theSarrower any balancg remaining in the funds accumulated under the provisions of (a) of paragraph 2 hereof. If there sdtall be a default under any of the provisions of this instrument resulting in a public sale of the premises covered hereby, gr if -the Lender acquires the property otherwise after default, the Lender shall apply. at um iliac us um ttniuiictnacincnt us bucii piMVzciirigs, yr at tlic bate dic liruprariiy is uu*crwisc awuircd, dw iwlwwx tncf> tv- maining in the funds accumulated under (a) of paragraph 2 preceding, as a credit against the amount of principal then remain- ing unpaid under said note. 4. That the Borrower will pay ground rents, taxes, assessments, water rates, and other governmental or municipal charges. fines, or impositions, for which provision has not been made hereinbefore, and in default thereof the Lender may pay the same; and that the Borrower will promptly deliver the official receipts therefor to the Lender. S. The Borrower will pay all taxes which may be levied upon the Lender's interest in said real estate and improvements, and which may be levied capon this instrument or the debt secured hereby (but only to the extent that such is not prohibited by law and only to the extent that such will not. crake this loan usurious), but excluding any income tax. State or Federal, imposed on Lender, andmill file the �offtcial receipt showing such payment with the Lender. Upon violation of this undertak• ing, or if the Borrower is prohibited by any law now or hereafter existing from paying the whole or any portion of the aforesaid taxes; or upon the rendiming of any court decree prohibiting the payment by the.Bo4ower of any such taxes, or is such law or decree provides that any amount so paid by the Borrower shall be credited on'the debt. the Lender shall have the right to give7ainety days' written notice to the owner vE the premises, requiring the payment of the debtv If such notice be given, the said debt shall become due, payable and catEectible at the expriation of said ninety days. 6. That should the Borrower fail to pay aqy sum or keep any covenant provided for in this instrument. then the Lender, at -its opdon, may pay or perform the same, end-all expenditures so made shall be added to the - principal sum owing on the above note, shall be secured hereby, and stall bear interest at the rate set forth in the said note, until paid. 7. That rite, Borrower hereby assigns, transfers and sets over to the .Lender, to- be applied toward the payment of the note and atlistrrns secu ed hereby in case of adefauilt in the performance of any'of the terms and conditions of this instrument or thb said note, all tits rents, revenues and, inwme' to be derived from the said premises during such time as the indebtedness shalliremain iutpaid, and the Lender shall havepower to appoint any agent or agents it may desire for the purpose of repairing said premises and of renting the same 'anti collecting the, rents, revenues and income, and it may pay out of said incomes all expenses of repairing said premises and necessary commissions and expenses incurred in renting and managing the same and of collecting.rentals therefrom; the balance' remaining; if any, to be applied toward the discharge of said indebtedness. 8. Thtit the Borrower will keep the improvements now existing or hereafter erected on the property, insured as may be required from time to time by the Lender against loss by fire and other hazards, casualties and contingencies in such amounts and for such periods as may be required by the Lender and will pay promptly, when due. any premiums on such insurance provision for payment of which has not been made hereinbefore. All insurance shall be carried in companies ap- proved by they Lender and the policies and renewals thereof "shall be held by the Lender and have attached thereto loss payable clauses in favor of and in form acceptable to the Lender. In event of loss Borrower will give immediate notice by mail to the Lender.who may make proof of loss if not made promptly by Borrower, and each insurance company concerned is hereby authorized and directed to Make payment for such loss directly to the Lender instead of to the Borrower and the Lender jointly, and the, insurance praceeds. or any past thereof, may be applied by the Lender at its option either to the reduction of the indebtedness hereby s=rcd or to the restoration or repair of the property damaged. In event of foreclosure of thu instrutnent or other transfer of tide ro the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title and interest of the Borrower in and to any insurance policies then in force shall pass to the purr: haler or gragice. (). That us additional and collateral security for the payment of the note described, and all sums to become duc undcf this instrument, the Borrower hereby assigns to the Lender all profits, revenues, royalties. right% mid benelit, .act rmrul• io life* lforrowcr under any and all oil and gas leases on said premises, with the right to receive and rcccflit lot slit- % mnc ,mil Panao T of 4 Forrn HUD-92143-OT fiev :1/811 1.1 Iii i . }JY J