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Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the Borrower prior to
<br />the due date of the nett such payment, constitute an event of default under this mortgage. The Lender may collect s "late
<br />charge'- not to e,cccd four cents (4r) for each dollar ($I) afeach payment more than fifteen (15) dayr in .trrears to cover
<br />the extra expense involved in handling delinquent payments;,
<br />3. That if the total of the payments made by the Borrower under.(a) of paragI'raph 2 ,preceding shall exceed the amoun,
<br />of payments actually made by the Lender for ground rents, taxes an4:assessments oh it surancc premiums, as the Case May
<br />tie, such excess. if the loan is current. at the option of the Borrower: shall be credited by the Lender on subsequent payments
<br />to be made by the Borrower, or refunded to [fie Borrower: lf. however, the monthly payments made by i; a Borrower under
<br />(a) of paragraph 2 preceding shall not be, sufficient to pay ground rents, taxes 20 assessments or insurance premiums. as
<br />the case may be, when the same shill become due and payable, then the Borrower shall pay to the Lender any amount necessary
<br />to make up the deficiency, on or before the date when payment of such ground rents, axes, assessrttents, or insurance premiums
<br />shall be due, if at anv time the Borrower shall tender to the Lender, in accordarxe -with the provisions of the note s ^cured
<br />hereby, full payment of the enure indebtedness rcprm- nled thereby. tt= Lender, shall, in computing the amount of such in-
<br />dehtednes%. credit to the account of the Borrower any balance remaining in tfie fur Vs accumulated under the provisions of
<br />(a) of paragraph 2 hereof if there shall be a default under'aw1V of the provisions` of This instrument resulting in a public sale
<br />of the premises covered hereby. or if the Lender acquire3 the property btheiwise after default, the Lander shall apply, at
<br />the time.of the commencement of such proceedings, or a! the time the propert y,is otherovise acquired, the balance then re-
<br />rnaining in the funds accumulated under (a) of paragraph,2 preceding, as a credit against.thc amount of principal then remain-
<br />ing unpaid under said note.
<br />4. That the Burrower will pay ground rents, taxes. assessments, water rates, and other govcrnmrntal or municipal charges.
<br />fines. or impositions, for which provision has not been made hereinbefore. and.in'default thereof the Lerder may pay lie
<br />same: and that the Borrower will promptly deliver the official receipts therefor.to `the lyender.
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<br />5. The Rorrower will pay all taxes which may be levied upon the Lender's interest Maid Teal estate and improvements,
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<br />and which may be levied upon this instrument or the debt sbCured hereby (but oniv ro the extent th. t such is nrK profribiteal
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<br />by Law and or_ly io :he extent that such will nor- make this IWn t*ulious), but•exdudng any inctmw tax. State or Federal.
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<br />imposed on Lc der, and will file the officia( with the I esrder. Upon > k*vion of etas undertak-
<br />ing. or if the Borrowrr is prohibited by am law nosy or hereaf<ek c%i", from pawg Hr wrtj* orany portion of the atorc%aid
<br />taxes. or upon the rcriodering of airy CMF1 decree prohibiliog, * moment by the Sorrcnicr of anv such taxes. - k -xii lr-
<br />or decree provides that any arrtorrnl so paid by the 13orrawv& shall: :be.credited on the del:4. the Lender shall -i the the rit:t
<br />to give ninety days' written notice to the owner of the premises. requiring the payment of the ucbt. If such notice be given,
<br />the %aid debt shall become due, payable and collectible' a( the, 4xf%iation of said ninety 6vs.
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<br />6- That should the Borrower fail to pay -any sum or`keep any.covenant provided for in this instrument, then the Lender,
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<br />at its option. mcy pay or perform the same, and all expenditures set made shall be added to the principal sum owin; on the
<br />above note, shall he secured hereby, aci-1 shall bear interest' a't the rate set forth in the said note, until paid.
<br />7. That the Borrower hereby assi ,7. ; transfers and Set$ over to .file !— ender, to be applied toward the payment of the
<br />note and all sums secured hereby in cas ,�Fa default in-the performance of any of the terms and conditions of this instrument
<br />or the said note. all the ren!s, revenues :end income to � derived from the said premises during such time as the indebtedness
<br />shall remain unp -id. and the Lender sha3f have power tee. a,•ipoint any agent or agents it may desire for the purfx)se of repairing
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<br />II
<br />said premises and of renting the san : :._nd collecting AWe, rents, revenues and income, and it may pay out of said incomes
<br />all expenses of repairing said _and nc-cessary commissions and expenses incurreq in renting and managing the same
<br />and of collecting rentals therefrom: ih^ valance remaining, if any; td be applied toward the discharge of said indebtedness.
<br />S. That the &_7rrower will kcrp t-ic improvements now existing or hereafter erected on the prorvrty, insured as may
<br />be required from time to time by tht Lender against loss by fire and outer hazards, casualties and contingencies in such
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<br />amounts and for such periods as may be vcc,,tired by the Lender and will pay promptly, when due, any prcinium -c on such
<br />insurance provision for payment of wl�iich has not been. made hercinbcfore. All insurance shall he carrice in companies ap-
<br />proved by the tender --end the policies and renewals thereof shalt he held by thl •i.,ender aril have attached titer., tit loss payab :c
<br />clauses in favor of and in form acceptable to the Lender. in event of Itxc Borrower will give itarnedime n��tice by mail to
<br />the I.ender.who may make proof of lose if not made promptly by Borrower, aril each insurance company concerned is hereby
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<br />authorized and directed to make payment for such loss directly to the Lender instead of to the Borrower acid the LcnJer
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<br />jointly, and the insurance proceeds, or any pan thereof, may he applied by the lender at its option either to the reduction
<br />of the indebtedness hereby secured or to the restoration or repair of the property .damaged. In event of foreclosure ol• this
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<br />instrument or other transfer of title to the mortgaged property in extinruishrouet of the indebtedness secured hereby, all I fight.
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<br />title unit interest of the Borrower in and to any insurance policies then in force shall.-pass to the purchaser or grantee.
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<br />9. That ac additional and collateral security for the payment the rwtr 4seribc -O. and all sums bt become due under
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<br />this ima- ument. the Borrower hereby assigns to the Lender all profitscrievenucs, rev alties. rights and benefits accruing to
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<br />the Sorrewer under any and all oil and gas leases tin said premises. with the right io *receive and rn!cipt for the tame and
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<br />Pane 2 of 4 Form HUO- 9:143 -DT Rev, MR 6LP1
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