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<br />100599
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<br />(a) A sum equal to th~ ground rents, if any, next due, plus the premiums that will next become due and payable
<br />on policies of fire and other hazard insurance covering the mortgaged property, plus laxes an.d assessment~ next
<br />due on the mortgaged property (all as estimated by the Mortgageel less all sums already paid therefor dIVIded
<br />by the number of months to elapse befvre one month prior to the date when such ground rents, premIUms,
<br />taxes and assessments will become delinq\lent, such sums to be held by Mortgagee in trust to pay said ground
<br />rents, premiums, taxes and special assessments; and
<br />(b) All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />the note secured hereby shall be added together, and the aggregate amount thereof shall be paid by the
<br />Mortgagor each month in a single payment to be applied by the Mortgagee to the following items in the order
<br />set forth:
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<br />(I) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(II) interest on the note secured hereby; and
<br />(Ill) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good by the
<br />Mortgagor prior to the due date of the next such payment, constitute an event of default under this mortgage,
<br />The Mortgagee may collect a "late charge" not to exceed four cents (4<&) for each dollar ($1) of each payment
<br />more than fifteen (\ 5) days in arrears to cover the extra expense involved in handling delinquent payments,
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<br />3. That if the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall exceed the
<br />amount of payments actually made by the Mortgagee for ground rents, taxes and assessments or insurance premiums, as the
<br />case may be, such excess, if the loan is current, at the option of the Mortgagor, shall be credited by the Mortgagee on
<br />subsequent payments to be made by the Mortgagor, or refunded to the Mortgagor. If, however, the monthly payments made
<br />by the Mortgagor under (a) of paragraph 2 preceding shall not be sufficient to pay ground rent, taxes and assessments or
<br />insurance premiums, as the case may be, when the same shall become due and payable, then the Mortgagor shall pay to the
<br />Mortgagee any amount necessary to make up the deficiency, on or before the date when payment of such ground rents,
<br />taxes, assessments or insurance premiums shall be due. If at any time the Mortgagor shall tender to the Mortgagee, in
<br />accordance with the provisions of the note secured hereby, full payment of the entire indebtedness represenled thereby, the
<br />Mortgagee shall, in computing the amonnt of such indebtedness, credit to the account of the Mortgagor
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<br />any balance remaining in the funds accumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default
<br />under any of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the Mortgagee
<br />acquires the property otherwise after default, the Mortgagee shall apply, at the time of Ihe commencemenl of such
<br />proceedings, or at the time the property is otherwise acquired, the balance then remaining in the funds accumulated under (a)
<br />of paragraph 2 preceding, as a credit against the amount of principal then remaining unpaid under said note.
<br />4, That the Mortgagor will pay ground rents, taxes, assessments, water rates, and other governmental or municipal
<br />charges, fines, or impositions, for which provision has not been made hereinbefore, and in default thereof the Mortgagee may
<br />pay the same; and that the Mortgagor will promptly deliver the official receipts therefor to the Mortgagee.
<br />5. The Mortgagor will pay a;j taxes which may be levied upon the Mortgagee's interest in said real estate and
<br />improvements, and which may be levied upon this mortgage or the debt secured hereby (but only to the extent that such is
<br />not prohibited by law and only to the extent that such will not make this loan usurious), but excluding any income tax, State
<br />or Federal, imposed on Mortgagee, and will file the official receipt showing such payment with the Mortgagee, Upon
<br />violation of this undertaking, or if the Mortgagor is prohibited by any law now or hereafter existing from paying the whole
<br />or any portion of the aforesaid taxes, or upon the rendering of any court decree prohibiting the payment by the Mortgagor
<br />or any such ta'\es, or if such law or decree provides that any amount so paid by the Mortgagor shall be credited on the
<br />mortgage debt, the Mortgagee shall have the right to give ninety days' written notice to the owner of the mortgaged premises,
<br />requiring the pa~'ment of the mortgage debt. If such notice be given, the said debt shall become due, payable and collectible
<br />at the expiration of said ninety days.
<br />6. That should he fail to pay any sum or keep any covenant provided for in this Mortgage, then the Mortgagee, at its
<br />option, may payor perform the same, and all expenditures so made shall be added to the principal sum owing on the above
<br />note, shall be secured hereby, and shall bear interest at the rate set forth in the said note, until paid.
<br />7. That he hereby assigns, transfers and sets over to the Mortgagee, to be applied toward the payment of the note and
<br />all sums secured hereby in case of a default in the performance of any of the terms and conditions of this Mortgage or the
<br />said note, all the rents, revenues and il'come to be derived from the mortgaged premises during such time as the mortgage
<br />indebtedness shall remain unpaid: and the Mortgagee shall have power to appoint any agent or agents it may desire for the
<br />purpose of repairing said premises and of renting the same and collecting the rents, revenues and income, and it may payout
<br />of said incomes all expenses of repairing said premises and necessary commissions and expenses incurred in renting and
<br />managing the same and of collecting rentals therefrom; the balance remaining, if any, to be applied toward the discharge of
<br />said mortgage indebtedness.
<br />8. That he will keep the improvements now existing or hereafter erected on the mortgaged property, ino;ured as may be
<br />required from time to time by the Mortgagee against loss by fire and other hazards, casualties and contingencies in such
<br />amounts and for such periods as may be required by the Mortgagee and will pay promptly, when due, any premiums on such
<br />insurance provision for payment of which has not been made hereinbefore. All insurance shall be carried in companies
<br />approved by the Mortgagee and the policies and renewals thereof shall be held by the Mortgagee and have attached thereto
<br />loss payable clauses in favor of and in form acceptable to the Mortgagee. In event of loss Mortgagor will give immediate
<br />notice by mail to the Mortgagee, who may make proof of loss if not made promptly by Mortgagor, and each insurance
<br />company concerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead of to
<br />the Mortgagor and the Mortgagee jointly, and the insurance proceeds, or an~' part thereof, may be applied by the Mortgagee
<br />at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property
<br />damaged. In even' of foreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishment of
<br />the indebtedness secured hereby, all right, title and interest of the Mortgagor in and to any insurance policies then in force
<br />shall pass to the purchaser or grantee.
<br />9. That.as additional and collateral security for the payment of the note described, and all sums to become due under
<br />this mortgage, the Mortgagor hereby assigns to the Mortgagee all profits, revenues, royalties, rights and benefits accruing to
<br />the Mortgagor under any and all oil and gas leases on said premises, with the right to receive and receipt for the same and
<br />apply them to said indebtedness as well before as after default in the conditions of this mortgage, and the Mortgagee may
<br />demand, sue for and recover any such payments when due and payable, but shall not be required so to do. This assignment
<br />is to terminate and become null and void upon release of this mortgage.
<br />10, That the Mortgagor will keep the buildings upon said premises in good repair, and neither commit nor permit wasle
<br />upon said land, nor suffer the said premises to be used for any unlawful purpose.
<br />II. That if the premises, or any pari thereof, be condemned under the power of eminent domain, or acquired for a
<br />public use, the damage, awarded, the proceeds for the taking of, or lhe consideration for such acquisitIon, 10 rhe t'xtent of
<br />the full amount of indebtedness upon this mortgage and the note which it is given 10 ,entre lerilllllllllg ullPatd, alC hereby
<br />a~signed by the Mortgagor to the Mortgagee, and shall be paid forthwith 10 'aid Mortgagee \(> Ill' appl1t'd by the laller Oil
<br />account of Ihe next maturing installments of such indebtedness.
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