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I (I) month prior to its due date the allllualmortgag.e insurance premiulll in order to provide such holder 88--101555 with funds to pay such premium to the Secretary of Housing aud Urban Development pursuant tu the National Housing Act, as amended. and applicable Regulations thereunder: ur r (II) If and so long as said note of even date and this instrulllent arc held by the Secretary of Housing and Urban Development. a monthly charge (in lieu of a mortgage insurance premium) which shall be in an amount equal to one-twelfth (1/12) of one-half (1/2) per centum of the average outstanding balance due on the note computed without taking into account delinquencies or prepayments; (b) A sum equal to the ground rents, if any. next due. plus the premiums that wiII next become due and payable on policies of lire aud other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property (all as estimated by the MortgageeJ less all 5ums already paid therefor divided by the number of months to elapse before one 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, pre- miums, taxes and special assessments; and (c) All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under the note secured hereby shall be added together. and the aggregate amoun t thereof shall be paid by the Murtgagor each month in a single payment to be applied by the Mortgagee to the following items in the order set forth: L (I) premium charges under the contract or insurance with the Secretary of Housing and Urban Development, or montWy charge (in lieu of mortgage illSlirallce premium). as the case may be: (II) ground rents, taxes, assessments. fire and other hazard insurance premiums; (III) interest on the note secured hereby: and (IV) amortization of the principal or said note. Any deficiency in the amount uf any such aggregate monthly payment shall. unless made good by the Mort- gagor prior to the due date of the ncxt such PaYlIIcut, constitute an evcnt of dcfault under this mortgage, TIle Mortgagee may collect a "late charge" not to exceed four cents (411) for each dollar ($ I) of each payment more than fifteen (15) days in arrears to cover the extra expense involved in handling delinquent payments. 3. That if the total of the payments made by the \1ortgagor under (i,) of paragraph 2 prec('ding shall exceed the amount of payments actually. made by th(' 'lortJ!a~('(' for l!round rents, taxes and assessments or insuram~e pre- miums, as the case ma)' be, such excess, if the loan is currelll, at [he option of the Mortgagor, shall be credited by the Mortgagee on subsequt>nt payments to be made by the \lortgagor. or refunded to the \lortgagor. If, howc\"('r, the lTIonthly payments made b}' the Morrgagor under (f,) of paragraph 1 preceding shall not be sufficient to pa)" ground rent, taxes and assessments or insurance prl'miums, as the ('as(~ may be, when the same shall becoml' due and pay- able. then the Mortgagor shall pay to thl' )Iortgag('(' allY amount n ('('('.'0' 5a I)' 10 make up the defieil'fl('Y, on or before the date when p3)'menl of such ground rents, I axl'S, as,,:cssment:3 or insurance premiums shall be due_ If at any time the Mortgagor shall tender to the \lortgagee, in al'('ordanc(! with the pro\'isions of the note setured hereby, full payment of tbe entire indebtedness represent('d then"b)", the \Iortgag('(' shall, in computing the amount of such indebtedness, credit to the account of [he Mortgagor all pa~'mcOls made under the pro\'isions of fa) of paragraph 2 hereof Yo'hich the Mortgagee has not be('ome obligllll'd to pay to the ~cretaf)' of lIoul"ing and l'rban Deyelopment and any balance remaining in thl' funds a('cumulatl'd undpr the provisions of fl,) oj paragraph 2 hereof. If there shall be a default under any of th(' provisions of thi" mortgagl' resulting in a public sale of the premises ('on-red hereby, or if the Mortgagep ll.<'quirt>s the prop('rty othl'rwis{> aftN dl'fau1t, the \Iortgagcc shall appl)", al the timp of the commencement of such proceedings, or at the time the property is otherwise acquired, the balanee thm remain- ing in the funds accumulated undl'r (l,J of paragraph 2 Im'l'l'ding, as 1I crl'dit against thl' amount of principal then remaining unpaid under said notl', and shall propprly adjust an~' paympnts \\hi('h shall have been made undl'r fal of paragraph 2. 4. That the Mortgagor will pay ground rents. [axes. assessments. water rates, and other governmental or municipal charges. fines, or impositions. for which provision has not heen made hereinbefore. and in default thereof the Mortgagee may pay the same: and that the Mortgagor will promptly delh'er the official receipts therefor to the Mortgagee. 5. The Mortgagor will pay all taxes which may be levied upon the Mortgagee's interest in said real estate and improve- ments. and which may be levied upon this mortgage or the debt secured hereby (but only to the e"tent that such is not prohihit- ed by law and only to the e"tent that such will not make this loan usurious). but excluding any income ta". State (lr Federal, imposed on Mortgagee. and will file [he official receipt showing such payment \\ilh the Mortgagee. Upon ,'iolation of Ihis umler- taking. or if the Mortgagor is prohipiled by any law no\\" llr hereafter existing from paying the whole or any portion of the ;lfore- said taxes. or upon the rendering of any murl decree prohioiling the payment Ily the Mortgagor or any such taxes. or if such law or decree prm-ides thCit any amounl so paid hy Ihe Mor[gagor shall he credited on the mortgage debt. the M(lrtgagee shall have the right to give ninety days' written nOllce to the owner of the mortgaged premises. requiring the payment of the mortgage debt. If such n(1tice be given. the SOlid dellt shall bcClmle due. payable and l'ollec!ihle atlhe expiration of said ninety days. 6. That should he fail to pay :In)" sum or kcep any co\'enan[ provided for in [hi\, \lortg:ige. then the Mortgagee. at its op- tion. may payor perform the samc. and all e.\penditures so m;llle shall he added to the principal sum owing on the abm'c note. shall be secured hereby. ;md shall hear interest ai the rate set forth in the said note. until paid. 7. That he hereby assigns. transfers and sets over to the Mortgagee. to be applied toward the payment of the notc and all sums secured hereby in case of a default in the performance of any of the terms and condilions of this Mortgage or the said note. all the rents. revenues and income to be deri\'ed from the mortgaged premises during such time as the mortgage indebted. ness shall remain unpaid: and the Mortgagee shall have power to appoint any agent llr agents it ma}' desire for the purpose of repairing said premises and of renting the same and collelling the renl... revenues and income. and it may payout of said in- comes all expenses of repairing said premises and necessary commissions and expenses incllrred in renting and managing the same and of collecting rentals therefrom; the balance rem;;ining. if any. to he applied toward the discharge of said mortg..ge indebtedness. 8. That he will keep the improvements now existing 0' hereafler erected on the nwrtgaged property, insured as may be required from time .to time by the Mortgagee against loss b}' fire and other hal.ards_ casualties and cllntingencies in such amounts and fc,rsllch periods as may be required by the Morlgagee and will P:I}" promplly. when due. any premium.. on sllch insurance provision for pay'ment of .....hich has not been made hereinbcf(1re. All insurance shall be l';uried in companies ap- proved by the Mortgagee and the Jlulicies and renewals thereof shall be held by the Mortgagec and havc allaehed thereto loss pay'able clauses in fa\'or of and in form acceptable to the Mortgagee. In event of loss ~Iorlgagor will give immedia[e notice by mail to lite Mortgagee, who may make proof of loss if nOl made promptly hy Mortgagor. and each imurance company con- cerned is hereby authorized and directed 10 m..ke payment for such lo~s directly to the Morlgagee instead of to the Mortg;\gor and the Mortgagee joitltly. and the in<,unmce proceed... or any pari thereof. may he applied by the Mortgagee at its option either to the reduction of the indebtedness hereby' secured or iO the re~toration or repair of the properly dam..ged. In cvent llf foreclo. sure of this mortgage or othcnrans.fer of title to the morlgaged property in e\lin~uishment of the indebtedness secured herelly. all ril!ht. title and interest uf the Mortgagor in and 10 any insur;mce policies then in fmet" shall pa~s 10 Ihe PUn:h;lser or gmntce. 9. Thai as additionlJl and collateral security for the payment of the nnte descrihed. and all slims 10 beCt1mc due under this mortgage. the Mortgagor hereby assigns In the Mortg;lgce all PfCl!1tS. revenues. TOvallics. ri~hts and benefits lIccruing to.Jhe Mortgagor under :In)' and all oil and gas leases on said premises. with the right In ~ccci\'(' and rN:eipl for the' samc";drid ;topl) them to said indebtedness as well before as after def,lull in ihe conditions of this I11l1rl~a~c _ al1lllhe Mortgagee Illay demand. slle for !lnd H~Clwer ;tn~. such p..ymenls when due and ra~'able. bUI shall nlll toe required '<' III <I". Thi~ ;Issignmcnl is In tl'rminall' and !>tcume null and \ llid UP{lO release llf lhis n\{lrt~al!e. IlU092143M l~' 191