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<br />88- 100655
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<br />(a) A sum equal to the 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 taxes an,d assessment~ ~ext
<br />due on the mortgaged property (all liS estimated by the Mortgagee) less all sums already paid therefor dl~lded
<br />by the number of months to elapse before one month prior to the date when such ground rents, ~remlUms,
<br />taxes and assessments will become delinquent, such sums to be held by Mortgagee III 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 />(III) 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 (41f) for each dollar ($1) of each payment
<br />more than fifteen (15) days in arrcars 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 rer.t, 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 oue, 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 represented thereby, the
<br />Mortgagee shall, in computing the amount 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 /iny 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 the commencement 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 all 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 taxes, or if such law or decree provides that any amount so paid by the Mortgagor shaH 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 payment 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 income 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, insured 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 immediatc
<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 any part thereof, may be applied by the Mortgagec
<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 event 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 thc 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 undcr
<br />this mortgage, the Mortgagor hereby assigns to the Mortgagee all profits, revenucs, royalties, rights and benefits accflling 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 beforc as after default in thc conditions of this mortgage, and the Mortgagee may
<br />demand, sue for and recover any such payments when due and payable, but shall not bc required so to do, This assignment
<br />is to terminate and become null and void Ilpon release of this mortgage,
<br />10, That the Mortgagor will kecp the buildings upon said premises in good repair, and ncither comlllit nor pcrmit waste
<br />upon said Innd, nor suffer the said premises to be used for any unlawful purpose,
<br />11. That if the premises, or any part thereof, be condemned undcr the power of cminent domain, or acquired for a
<br />public use, the damages awardc!l, the proceeds for the taking of, or the consideration for such acquisition, to the extcnt of
<br />the full Amount of indebtedness upon this mortgage and the note which it is givcn 10 secure rl'maining unpaid. arc hereby
<br />assigncd by the Mortgagor to the Mortgagce, and shall be paid forthwith to said Mortgagce to bl' applied by the lalter on
<br />account of lhe next maturing installments of such indebtedncss,
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