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<br />87-,"'101586
<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 and assessments next
<br />due on the mortgaged property (all as estimated by the Mortgagee) 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, premiums,
<br />taxes and assessments will become delinquent, such sums to be held by Mortgagee in trust to pay said ground
<br />rents, premiums, taxes and special assessments; and
<br />(b) Ali payments mentioned in the two preceding subsections of this paragraph and all payments to be made tinder
<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:
<br />(1) ground rents, tares, 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 paymem 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 (4¢) for each dollar ($1) of each 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 (a) of paragzaph 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 rent, 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 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 shallj in Sorriputiyg the amount of such indebtedness, credit to the account of the Mortgagor
<br />any balance reirrol $-it4p,,,[ppds 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 (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 hetembefore, and in default thereof the Mortgagee may
<br />pay the same; and that the Mortgagor wit! promptly deliver the official receipts therefor to the Mortgagee.
<br />5. The Mortgagor will pay all taxes which may be !cited 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 Thai 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 shall be credited on the
<br />mortgage debt, the Mortgagee shall have rile 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 gocn, the said debt Khali 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 LLf'
<br />option. may Pay or perform the same, and all eependiturc, <o made shall he added to the principal sum owing on the above
<br />note. shall be secured hereby, and shall bear interest at the rate .ct forth it. the ;aid 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 n case of a default ur the performance of any of the terms and conditions of this Mortgage or the
<br />said note, all the rent,_ revenues and income to be derived from the mortgaged Premises during such time as the - rry —,4zge
<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 .aid premises and of renting the same and collecting the rents, revenues and income and it may pay out
<br />of said income, all expenses of repairing paid premise~ and necessary commissions and expenses incurred in renting and
<br />managing tee same and of collecting rentals therefrom; the balance remaining, if any
<br />said mortgage indebtedness. . to be applied coward the discharge of
<br />& That he will keep the improvements now existing or hereafter erected on the mortgagee; 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 ch
<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 hcreinbefore. All insurance shag be carried in compartics
<br />approved by the Mortgagee and the policies and renewals *_hereof shall be held by the Mortgagee and have attached thereto
<br />loss payable clauses to favor of and in form acceptable ro 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 of to
<br />the Mortgagor and the Mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by the Mortgagee
<br />at its option either to the reduction of the indebtedness herehv „r—j o to .he restoration n __ r��r of lac 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 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 benefits accruing 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 before as after default in the conditions of this mortgage, and he Mortgagee may
<br />demand, sue for and recover any such payments when due and payable, but shall not be required so to do. This assignment
<br />is to terminate and become null and void upon release of this mortgage.
<br />M That the Mortgagor will keep the buildings upon said premises in good repair, and neither commit not permit waste
<br />upon said land, nor suffer the said premises to be used for any unlawful purpose.
<br />I1. That if the Premises, or any part thereof, be condemned under the Power of eminent domain, ar acqutted for a
<br />Public use, the danugcii awarded, the proceeds for the taking of, or the constdcratiort for such acquisition, ,,� the extent lit
<br />the full i- Toount (it indehtedness upon this mortgatte and the note which it is given to secure remaining unpaid, arc hereby
<br />atogried by the Nlortgaaur to the Mortgagee, and shall he paid l0rehwith to said Mott¢apec to he applied M the latter ore
<br />account it the next rnatuuriX installments of such utdchtednr�n.
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