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The Mortgagor In order more fully 10 protecl the security of this Mortgage, agrees: r I. That he will pay Ihe indebtedness, as hereinbefore provided. Privilege is reserved 10 pay the debt in whole or in part on anv inslallmenl due date. . 2. That, together with, and in addition 10, the monthly payments of principal and interest payable under the terms of the note sec~red hereby, the Mortgagor wiII pay to the Mortgagee, on the first day of each monlh untHthe said note is fully paid, the following sums: (a) A sum equal to the ground rents, if any, next due. plus the premiums Ihat wiII next become due and payable on policies of fire and other hazard insurance covering the mortgaged property. plus taxes and assessments next due on Ihe mortgaged property (all as estimated by the Mortgagee) less all sums already paid therefor divided by the number of months to elapse before one (I) month prior to the date when such ground rents, premiums. taxes and assessments will become delinquent, such sums to be held by Mortgagee in trust to pay said ground rents. premiums, taxes and special assessments; and (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 Mortgagor each month in a single payment to be applied by the Mortgagee to the following ilems in the order set forth: (I) ground rents. taxes. assessments. fire and other hazard insurance premiums; (II) interest on the note secured hereby; (III) amortization of the principal of said note; and (IV) late charges. Any deficiency in the amount of such aggregate monthly pay- ment shall. unless made good by the Mortgagor prior 10 the due date of the next such payment. constitute an event of default under this mortgage. The Mortgagee may collect a "late charge" not to exceed four cents (4~) for each dollar ($1) of each pay- ment more than fifteen (15) days in arrears to cover the extra ex- pense inyolved in handling delinquent payments. 3. That if the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall exceed the amount of payments actually made by the Mortgagee for ground rents. taxes and assessments or insurance premiums. as the case may be, such excess. if the loan is current. at the option of the Mortgagor shall be credited by the Mortgagee on subsequent payments ;0 be made by the Mortgagor, or refunded 10 the Mortgagor. If, however. the monthly payments made by the Mortgagor under (a) of paragraph 2 preceding shall not be sufficient to pay ground rents, taxes and assessments or insurance premiums. as Ihe case may be. when the same shall become due and payable. then the Mortgagor shall pay to the Mortgagee any amount necessary to make up the deficiency, on or before the date when paymenl of such taxes. ground rents. assessments, or insurance premiums shall be due. If at any time the Morlgagor shall tender to the Mortgagee. in accordance with the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the Mortgagee shall, in computing the amount of such indebtedness, credit 10 the account of the Mort- gagor any balance remaining in the funds accumulated under the provisions of (a) paragraph 2 hereof. If there shall be a default under any of the provisions of this mortgage resulting in a public sale of the premises covered hereby. or if the Mortgagee acquires 87- 107158 the property otherwise after default, the Mortgagee shall apply, at the time of the commencement of such proceedings, or at the time the property is otherwise acquired, the balance then remain- ing in the funds accumulated under (a) of paragraph 2 preceding, as a credit against the amount of principal then remaining unpaid under said note. 4. That the Mortgagor wiII 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 Mortgagee may pay the same; and that the Mortgagor wiII promptly deliver the official receipts therefor to the Mortgagee. 5. The Mortgagor wiII pay all taxes which may be levied upon the Mortgagee's interest in said real estate and improvements. and which may be levied upon this mortgage 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 make this loan usurious), but excluding any income tax, State or Federal, im- posed on Mortgagee. and will file the official receipt showing such payment with the Mortgagee. Upon violation of this under- taking, or if the Mortgagor is prohibited by any law now or hereafter existing from paying the whole or any portion of the a~or~said laxes, or upon the rendering of any court decree pro- hlbltmg the payment by the Mortgagor of any such taxes, or if such law or decree provides that any amount so paid by the l\.lorlgagor shall be credited on the mortgage debt. the Mortgagee shall have the right 10 give ninety days' wrillen notice to the owner of the mortgaged premises. requiring the payment of the mortgage debt. If such notice be gh'en. the said debt shall become due. payable and collectible at the expiration of said ninety days. 6. That should the Mortgagor fail to pay any sum or keep any covenant provided for in this mortgage. then the Mortgagee. at its option. may payor perform the same, and all expenditures so made shall be added to the principal sum owing on the above note. shall be secured hereby. and shall bear interest at the rate set forth ill the said note. until paid. 7. That the Mortgagor hereby assigns. transfers and sets over 10 the Mortgagee. to be applied IOward the payment. of the note and all sums secured hereby in case of a default in the perfor- mance of any of the terms and conditions of this mortgage or the said note. all the rents. re\'enues and income to be derived from the mortgaged premises during such time as the mortgage in- debtedness shall remain unpaid. and the Mortgagee shall have power 10 appoint any agent or agents it may desire for the pur- pose of repairing said premises and of renting the same and col- lecting the rents, re\'enues and income. and it may payout of said incomes all expenses of repairing said premises and necessary commissions and expenses incurred in renting and managing the - ~ame and of collecting rentals therefrom; the balance remaining. If any. to be applied toward the discharge of said mortgage indebtedness. 8. That the Mortgagor will keep the imprO\'ements now ex- isting or hereafter erecled on the mortgaged property. insured as may be required from lime 10 time by the Mortgagee against loss by fire and other hazards. casualties and contingencies in such amOUnlS and for such periods as may be required by the Mor- tgagee and will pay promptly. when due. any premiums on such insurance provision for payment of which has nol been made hereinbefore. All insurance shall be carried in companies approv- ed by the Mortgagee and the policies and renewals thereof shall be held by Ihe Mortgagee and have allached Ihereto loss payable L HUD.92143M-1 Page 2 of 4 ~ L - ~ ,....-~ u j ,J " '"