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��.... 101734
<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 Aortgagee) 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) All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />r 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, taxes, assessments, fire and other hazard insurance premiums;
<br />(I1) interest on the note secured hereby; and
<br />(IiI) 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 a "late charge" not to exceed four cents (U) for each dollar ($I) 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 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, a* 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 became due and payable, then the Mortgagor shall gay 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 premium= chall be due. If at any time the Mortgagor shall tender to the Mortgagee. in
<br />accordance with the provisions of the note secured ber <oy, 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 retnmaetg in the funds accumulated under the provisions of (a) of paragraph 2 hereof. if there shall be a default
<br />under any- "ofYhtrJ"etstprrs of tttls-?Mmgage resulting in a public sale of the premises covered hereby, or if the Mortgagee
<br />acquires the Property otherwise after default, the Mortgagee shall
<br />proceedings, or at the time the r apply az the time of the commencement of such
<br />p Property :s otherwise acquired, the balance then remaining in the funds accumulated tender (a)
<br />of paragraph 2 preceding, as a credit against the amount of principal then remaining unpaid tinder 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 hrrembefore, and in default thereof the Mortgagee may
<br />Pay 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 est
<br />the Mortgagee's interest in said real ate and
<br />improvements. and which may be Levied upon this mortgage or the debt secured hereby (but only to ilre extent that such is
<br />not prohibited by law and only to the extent that such will not make this loan usurious), but excluding any income tax, State
<br />or Federal. imposed on Mortgagee, and will rite 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 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 and collectible
<br />at the expiration of said ninety days.
<br />5. That should he fail to pay any sum or keep any covenant provided for m this Mortgage, then the Mortgaeee at its
<br />option, may pay or perform the same, and all expenditures so made shall be added to t)te principal cum owing on the above
<br />note, shall lie secured hereby, and shall bear interest at the rate set forth u,, 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
<br />all nuns 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 SW. time as the mortgage
<br />ndebtedness 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 reins 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 en ing and
<br />managing the same and of collecting rentals therefrom; he balance remaining, if any, to lx applied toward the discharge of
<br />said mortgage indebtedness.
<br />8. That he will keep the improvements now existing or hereafter erected on the rnortgaged property, insured as may be
<br />required from time to time by the Mortgagee against loss by fire and outer hazards, casualties and contingencies in such
<br />amounts and for such periods as may be required by the Mortgagee and wilt pay promptly wirer, dui any premiums on such
<br />approved by�herLiortor payment of which has trot been made herembefore, All insurance shall be carried in companies
<br />Mortgagee and the policies and renewals thereof shall be held by the Mortgagee and have attached thereto
<br />loss payable clauses in favor of and in form acceptable to the Mortgagee. In event of loss Mortgagor -ill give immediate
<br />notice by mail to the Mortgagee, who gago
<br />may make proof of loss if not trade promptly by Mortr, 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 Fart thereof. may br applied by the Mortgagee
<br />at its option either to the reduction of the indebtedness hereby secured _ r
<br />damaged. in everts of foreclosure of this molt or t rte" -t'`o = Or r r at tyre property
<br />gage 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 th e same and
<br />apply them to said indebtedness as well before as after default in the conditions of this mortgage, and the 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 />10. That the Mortgagor will keep the buildings upon said premises in good repair, and neither commit nor permit waste
<br />upon said land, nor suffer the said premises to be used for any unlawful purpose.
<br />11. That if the premises, or any part thereof, be condemned under the power of eminent domain, or acquired for a
<br />public use, the damages awarded, the proceeds for the taking of', or the consideration for such acquisition, to the extent of
<br />the full amount of indebtedness upon this mortgage and the note which it is given to secure remaining unpaid, are hereby
<br />assigned by the Mortgagor to the !mortgagee, and shall he paid forth--irh to ;aid Mortgagec to ht• applied by the latter �,tt
<br />account of the next maturing atstallrncntt ,;t 11,11 indchtedncss.
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