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F
<br />100825
<br />(al .X +urn equal to the ground if any, .next .due, plus the premiums that 'will next become due sand payable
<br />on policies of fire and other hazard insurance covering the mortgaged properly. plus taxes and assessments next
<br />due on the mortgaged property fall ra twortated by the Afortgagee) less all sums already paid therefor divided
<br />by the number of months to elapse before one month prior to the date when such ground rents, premium%,
<br />taxes and assessments will become delinquent, such sums to be held by Mortgagee in trust to pay said ground
<br />revs, premiums, taxes and special assessments; and
<br />(h) 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 he applied by the Mortgagee to the following items in the ordet
<br />set forth:
<br />(1) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(11) interest on the note secured hereby; and
<br />(111) 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 it "late charge" not to exceed four cents (4c) for each dollar ($I) of cacti payment
<br />more than fifteen (15) days in arrears to cover the extra expense involved in handling delinquent payments.
<br />3. That if the total of the payments made by the Mortgagor under la) 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 (in
<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 assessment's or
<br />insurance premiums, as the case may be, when the same shall become due and payable, then the Mortgagor shall pay to tite
<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 represented thereby, the
<br />Mortgagee shall, in computing the amount of such indebtedness, credit to the account of the Mortgagor
<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 the commencement of such
<br />proceedings, or at the time the property is otherwise acquired, the balance then remaining in the funds accumulated under tat
<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 [he Mortgagee may
<br />pav 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 thm loan usurious), but excluding any income tax, State
<br />or Federal, imposed on Mortgagee, and will file the official receipt showing such pavment with the Mortgagee. Upor:
<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 al 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 shall he 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 cod collectible
<br />at the expiration of said ninety days.
<br />b. 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 pay or 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 />?_ 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 pay out
<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, it any, to be applied toward the discharge of
<br />said mortgage indebtedness.
<br />g. 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 _nd 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 he carried in companies
<br />approved by the Mortgagee and the policies and renewals thereof shall be held by the Mortgagee and have attached thereat
<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 tit to
<br />the Mortgagor and the Mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by the A- longag.ec
<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 ext;nguishment 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 henefita accruing to
<br />,ht M011PSeir under any and all oil and gas leases on said premises, with the right to receive and receipt for (lie same and
<br />apply then to std tndei>tedness as well before as after default in the conditions of this mortgage, and the Mortgagee muy
<br />desnatad, rut less and recover any such payment's when due and payable, but shall rat tic required vie to da_ 'fht= asignm,�r,f
<br />rs to terminate aaavd become null and void upon release of this mortgage.
<br />It) °That the Mortgagor will keep the buildings upon said firetnisea in good re.;rair. nn;l t)t::-t r011111 1!f aor . remit Hu >t
<br />oath said hunt, nets suffer the said pretruses to be used for any unlawfi,tl purpose,
<br />11 that it the trvnirscn, or any part rhetcol', by zoadesnned under flit, tu,xu.� are w w cioNlMr,
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<br />pku to use, ttr a14maggs awarded, 11'r prex"Ch for the 'zking .t, w 'he ,m'Ouiafi, a iii; -!AA a
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