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r 87-107320 (a) A aum equal to the ground renta. if any. next due. plua the premiums Ihal wlll next becorile due and payable on. policies of fire and other hazard insurance covering the mortgaged property. plus taxes and assessmenls next due on the mortgaged property (all as eatimated by the Mortgagee) leaa all sums already paid therelor divided by Ihe number of months to elapse belore one (1) .month prior to the date when such ground rents. premiums. taxes and assessments will become defmquent. such sums to be held by Mort. gagee in trust to pay said ground rents. premiums. taxes and speclalasaessments; and (b) Aft. payments mentiOned in the two preCeding subsections of Ihis paragraph and an payments to be made under the note seCl,lred h.Breby ahaUbe added together. and the aggregate amount thereof shaH be paid by the Mortgagor each month in a aingle paymenl to be applied by the Mortgagee to the following itema in the order set forth: (I) ground rents, taxes. asseaaments. fire and other hazard insurance premiums; (II) interest on the nOte secured hereby; and (Ill) amortization of the principal of said note. Arty deficiency in the llJnOIInt of such aggregate monthly payments shall. unless made good by the Mortgagor prior to the due date of the next such paymant, constitute an event of default under this mortgage. The Mortgagee may collect a ''late charge" not to ex. ceed four cents (4c) for each doIar ($1) of each payment more than fifteen (15) days in 1IITeaIS. to cover the extJa expense involved in handling delinquent payments. 3. That " the 10tal of the payments made by the Mortgagor under (a) of paraQlllPh 2 preced'ng shall exceed the llJnOIInt of the payments actually made by the Mortgagee for ground rents. taxes and assessments or insurance premilms. as the case may be, such excess. if the loan Is current, at the option of the Mortgagor. shall be aedited by the Mortgagee on subsequent payments to be made by the Mortgagor. or refunded to the Mortgagor. If. however. the monthly payments made by the Mortgagor undet" (a) of paraQlllPh 2 preceding shal not be sufficient to pay ground rent, taxes and assessments or insurance premiums. as the case may be, when the same sha! become me and payable, then the MOltgagor shaD pay to the Mortgagee any amoont necessary to make up the deficienCY. on or before the date when pay. ment of such ground rents, taxes. assessments or insurace premiums shall be me. " at any time the Mortgagor shal tender to the Mortga- gee. in accordance wJth the proviSions of the note secured hereby, fu~ payment of the entilre indebtedness represented thereby. the Mortga. gee shaD, in computing the amount of such indebtedness, ored:1 to the account of the Mortgagor. any balance remaining in the funds accu- mulated undet" the provisions of (a) of paragraph 2 hereof. If there sha~ be a de<<ault under any of the provisions of this mortgage resulting in a public sale of the premises covered hereby. or if the Mortgagee acquires the property othaWise after default.. the Mortgagee shall apply. at the time of the commencement of such proceedings, or at tbe time the property is othel\\ise acquired. the balance then remaning in the funds accumulated under (a) 01 paraQlllPh 2 precedIng. as a credit against the amount 01 prinoPal then fE!I1'IUling unpaid under said note. 4. That the Mortgllgor will pay a1 ground rents. taxes and assessments. water rates. and other govemmentaJ 01' ~ ch8rges. flies. QI impositions, for which provision has not been made here1nbelore. and in dclault thereof the Mortgagee may pay the same; and Ulatthe Mort. gagor wi! proll1rtIy deliver the ofticial receipts therefor to the Mortgagee. 5. The Mortgagor win pay all taxes which may be levied upon the Mortgagee's interest in said reel estate and in1Jrovements. which may be levied upon this mortgllge or the debt secured hereby (but only to the extent tl\at such is not proItied by !fit and only 10 the extent that such wiI not make this IGan usurious). but eKcludIng any income tax.. State or Federal. iimp>osed on Mort~ and wi! De the oIIcial receipt showing such payment With the Mortgagee. Upon viotation of tms undertaIcing, or if the Mortgagor is prohitiled by any law now Of h_\'Ier t!lds1ing from ~g the whole or any portion of the aforesaid taxes., or llpDl1 the rendering of any ClOUlt decree prohIlUIg the payment by the ~ of any sueb taxes. or if sueb law or deaee prmides that any amO'lllllt so paid by the MortQll9Of sbaI be oredled on the mor"~ debt, the Mortgagee shal hoe the right to glve ninely (90) days' written notice to the CJMlef of the mort~ premises. requmg the paymeM of the mortga\t8 debt If such notice be glven. the said debt sha'll become due. ~ and co!eclilIe at the elqlOtion of saMJ ninely (90) ckys, 6. That shoold be lIill to pay any sum or keep any covenant provided for in this Mortgage. then the Mortgagee. at ls option. may pay or perfonn the same. and alIl!lCpl!1ldltures so made sha'll be added to the prinopal sum owing on the above note. shall be secured hereby. and shall belT interest at the rate set forth in the said note. unt~ paid. 7_ That he bereby a$signs. transfers and sets ove; to the Mortgagee" to be epp1iect toward the payment of the note lII1d all SUlM secured hereby in case of a cWautt in the performance 01 any of the terms and oondIiOOns 01 this Mortgage or the said note. at the n!IIts. revenues and income to be derived ITOm the mortgaged premises dlJring such time as the modgage indebtedness shal re:nain unpaid; and the Mort. gllgee shal hoe power to 8Pl)olnt any agent or agents it may desire for the purpose of repairing said premises and of renting the same and coIecting the rents, revenues and income. and it may pay out of seid incomes all expenses of repa'iing said premises and necessary c0m- missions and expenses inalrrecl in renting and mar.aging the same and of oo'Ilecting rentals therelrom; the balance remaining, . any. to be epplied tonrd the discharge of said mortgage indebtedness. 8. That he wlI keep the iIrrpovements now existing or h_fte, erected 01\ the mortgaged property, insured as may be required tom tme to tine by the Mortgllgee agUlst loss by fire and other hazards. casualties and c:ontingenoies in such amounts and lor such periods as may be requi"ed by the Mortgllgee and will pay ~tIy. when due. any premilll1\S on such insutance pnnision for payment of which bas not been Imde Mninbefore. AI insurance shal be carried in COl11*'ies eppR7Ve.d by the Mortgagee and the poIicie$ and rer-ws th<<eof sba'lI be MId by the Mortgqee Wid hoe atIIIched thlleto loss ~ dmlses in ...."OT of and in loon acaptabIle to the Mortgagee. In e'm\1 of Iou ~ wi! <;ie immediate notice by mal to the Mortgqee. who may make proof cf loss II not made pI'Clqllty by MortQll9Of. and ..m inslnnc:e ~ concerned Is hereby authorized al\d directed to malee ~t for such loss dn!dJy to the Mortgagee Insteed of to the ~g.gor Wid the Mortgagee jointly. and the insurance proceeds. Of any part thereof. may be applied by the Mortgagee at ils option either to the reduction of the indebtedness hereby secured. or to the restoration or repair of the propert)I damaged. In the _t of be- closure of tilts mortga\t8 or other transfer of title to the mortgalJed propert)I in extinguishment of the indebtedness secured hereby. all right, title and interest of the Mortgagor in and to any insurance policies then in fon:e shal pass to the purchaser or grantee.. 9, That as additional and coJ.tsal security for the payment of the note describM, and a1 sums to become due under this mortgage. the Mortgllgor hereby assigns to the Mortgagee all profits. rolYenues. royalties. rights and benefits aocruing to the Mortgagor under any and ..t oil and gas __ on seicI prerrises. With the right to receive and receipt for the same and apply th<<n to said indebtedness as well before as atter default in the conditions of this mortgage, and the Mortgagee may demand. sue fOf lIIld recover any sueb payments when me and pay. able, but shill not be required to do 80. This assignment is to terminate and become nul and ~'Oid upon reIeIIse of this mortgage.. 10. That the Mortgllgor wiI keep the bulclings upon said prenjses in good repair. and neither commit nor pennit _ste upon said land. nor su1Ier the Slid plWIIIses to be used for any um.wtul purpose. 11. That " the premises. or any part thereof. be condemned under the power 01 eminent domain, or acquired for a public use. the damages ~ the proceeds for the tlildng 01, or the conslderatlon for such acquisition, to the extent 01 the fulllJnOIInt of k1debtedness upon this moctg11g8 Wid the noee which It is <;ien to secure rernMmg unpaid. are hereby assigned by the Mortgagor to the Mortgagee. and shal be peId forthwlth to MId Mortgagee to be fppIied by the latter on account of the next maturing instalments of such indebtedness. L Poor 2 0' 3 I ( .... ~