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<br />(a) A sum equal to the ground rents, if any. next due, plus the premiums that wig next become due and payable on policies of fire ar,d
<br />other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged properly (all as
<br />estimated by the Mortgagee) less an sums already paid therefor divided by the number of months to elapse before one 11) month
<br />prior to the date when such pound rents, premiums. taxes and assessments will become delinquent, such sums to be held by rAcr,
<br />gages in trust to pay said pound rents, premiums. taxes and special assessments; and
<br />(b) AN payments mentioned in the two preceding subsections of this paragraph and all payments to be made under the note secured
<br />hereby shaft be added together, and the aggregate amount thereof shall be paid by the Mortgagor each month in a single payment
<br />to be applied by the Mortgagee to the following items in the order set forth:
<br />(1) ground rents, taxes, assessments, fire and other hazard insurance premiums:
<br />(II) Interest on the note secured hereby; and
<br />(119 amortization of the principal of said note.
<br />Any deficiency in the amount of such aggregate monthly payments shag. unless made good by the Mortgagor prior to the due date
<br />of the next such payment. constitute an event of default under this mortgage. The Mortgagee may collect a 'late charge not to ex
<br />cited tour cents (4c) for each dollar ($t) of each payment more than fifteen (15) days in arrears, to cover the extra expense invc!,ed
<br />in handling delinquent payments.
<br />3. That If the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding shall exceed the amount of the payments
<br />actually made by the Mortgagee for ground rents, taxes and assessments or insurance premiums, as the came may be, such excess. if file
<br />loan is current, at the option of the Mortgagor, shall be credited by the Mortgagee on subsequent payments to be made by the Morlpgct
<br />or refunded to the Mortgagor. If, however, the monthly payments made by the tv1 ^' 1 „] ^r under (a) of paragraph 2 preceding shag not be
<br />sufficient to pay ground rent, taxes and assessments or insurance premiums, as the case may be. when the same shall become due and
<br />payable. then the Mortgagor shall pay to the Mortgagee any amount necessary to make up the deficiency, on or before the date when per;
<br />ment of such ground rents, taxes. assessments or insurace premiums shaft be due. if at any time the Mortgagor shaft tender td the Morga
<br />gee, in accordance with the provisions of the note secured hereby, full payment of the entire indebtedness represcn!rd thereby. the
<br />gee shag, in computing the amount of such indebtedness, credit to the account of the Mortgages, an; balance rem ,;rm,g in the funds
<br />mutated under the provisions of (a) of paragraph 2 hereof. If there shall be n default under any of the provisions of this mortgngn
<br />in a public sale of the premises covered hereby, or if the Mortgagee acquire^ the property otherwise alter dctault, tine Mortgagee ^r!nil
<br />apply. at the time of the commencement of such proceedings, or at the time the property is otherwise acquired, the balan<:e 1he•t ren'”' • I
<br />in the funds accumulated under (a) of paragraph 2 preceding, as a credit against the amount of principal then remaining unpaid under
<br />note.
<br />4. That the Mortgagor will pay all ground rents, taxes and assessments, water rates. and other governmental or municipal rhar9n,s, fine -
<br />impositions, for which provision has not been made hereinbefore, and in default thereof the Mortgagee may pay the same: and trial n,,• !"'r,
<br />gagor 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 improvements. v:hirh n,a, e
<br />levied upon this mortgage or the debt secured hereby (but only to the extent that such is not prohibited by law and only to tte extent 11:11
<br />such will not make this loan usurious), but excluding any income tax, State or Federal, imposed on Mortgagee, and will file the official rere'pi
<br />showing such payment with the Mortgagee. Upon violation of this undertaking, or if the Mortgagor is prohibited by any law now or hereafter
<br />existing from paying the whole or any portion of the aforesaid taxes, or upon the rendering of any court decree prohibiting the payment by
<br />the Mortgagor of any such taxes, or it such law or decree provides that any amount so paid by the Mortgagor shall be credited on the
<br />mortgage debt, the Mortgagee shag have the right to give ninety (90) days' written notice to the owner of the mortgaged premises. requiring
<br />the payment of the mortgage debt. It such notice be given, the said debt shall become due, payable and collectible at the expiration of said
<br />ninety (90) days.
<br />6. That should he fag to pay any sum or keep any covenant provided for In this Mortgage, then the Mortgagee, at its option, may pay or
<br />perform the same, and all expenditures so made shall be added to the principal sum owing on the above note, shall be secured hereby. and
<br />shag 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 all sums secured
<br />hereby in case of a default in the performance of any of the terms and conditions of this Mortgage or the said note, all the rents, revenues
<br />and income to be derived from the mortgaged premises during such time as the mortgage indebtedness shall remain unpaid: and the Moll
<br />gagee shag have power to appoint any agent or agents it may desire for the purpose of repairing said premises and of renting the same and
<br />collecting the rents, revenues and income, and it may pay out of said incomes all expenses of repairing said premises and necessary com-
<br />missions and expenses incurred In renting and managing the same and of collecting rentals therefrom; the balance remaining, if any, to be
<br />applied toward the discharge of said mortgage indebtedness.
<br />8. That he will keep the improvements now existing or hereafter erected on the mortgaged property, insured as may be required from time f^
<br />time by the Mortgagee against loss by fire and other hazards, casualties and contingencies in such amounts and for such periods as may be
<br />required by the Mortgagee and will pay promptly, when due, any premiums on such insurance provision tot payment of which has not been
<br />made hereinbefore. All insurance shall be carried in companies approved by the Mortgagee and the policies and renewals thereof shall be
<br />held by the Mortgagee and have attached thereto loss payable clauses in favor of and in form acceptable to the Mortgagee. In event of
<br />loss Mortgagor will give immediate notice by mail to the Mortgagee, who may make proof of loss if not made promptly by Mortgagor, and
<br />each insurance company concerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead of
<br />to the Mortgagor and the Mortgagee jointly, and the insurance proceeds, or any pan thereof, may be applied by the Mortgagee at its option
<br />either to the reduction of the indebtedness hereby secured. or to the restoration or repair of the properly damaged. In the event of fore-
<br />closure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right
<br />title and interest of the Mortgagor in and to any insurance policies then in force shaft pass to the purchaser or grantee.
<br />9. That as additional and collateral security for the payment of the note described, and ail sums to become due under this mortgage. the
<br />Mortgagor hereby assigns to the Mortgagee all profits. revenues, royalties, rights and benefits accruing to the Mortgagor under any and ail ec
<br />and gas leases on said premises, with the right to receive and receipt for the same and apply them to said indebtedness as well before al
<br />after default in the conditions of this mortgage, and the Mortgagee may demand, sue for and recover any such payments when due and pad
<br />able. but shag not be required to do so. This assignment 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 waste upon said !and, n^,r
<br />suffer the said premises to be used for any unlawful purpose.
<br />11. That it the premises, or any part thereof, be condemned under the power of eminent domain, or acquired for a public use, the damages
<br />awarded, the proceeds for the taking of, or the consideration for such acquisition. to the extent of the full amount of indebtedness upon rhi<
<br />mortgage and the note which it Is given to secure remaining unpaid, are hereby assigned by the Mortgagor to the Mortgagee. and shall be
<br />paid forthwith to said Mortgagee to be applied by the latter on account of the next maturing installments of such indebtedness.
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