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87- 102364,
<br />(41) A star equal to the ground rents, If any, next due, plus the premiums that will next become due and payable On policies Of fire, and
<br />other hazard Insurance covering the mortgaged property, Pius taxes and assessments next due on the mortgaged property (all as
<br />estimated by the Mortgages) lass ON sums already paid therefor divided by the number of months to elapse before one (t) month
<br />j� Pdor to the dale when such ground rents, premiums, taxes and assessments will become delinquent, such sums to be held by Mort
<br />t gages In trust to Pay said ground rents, premiums, taxes and special assessments; and
<br />(b) AN payments mentioned In the two preceding subsections of this paragraph and AN payments 10 be made under the note secured
<br />herby shell be
<br />by dddedM� her, and the aggregate amount thereof shag be Paid by the Mortgagor each month In a single payment
<br />to be gages to the following items It the order set forth:
<br />p) ground rants, laxss, assessments, Ara and other haterd insurance premiums:
<br />(Ii interest on the note secured hereby; and
<br />(tin amortization Of the Prince of sold note.
<br />Any deficiency In the amount of such aggregate monthly payments shall, unless made good by the Mortgagor prior to the due date
<br />Of the next such Payment, constitute an event of defauN under this mortgage. The Mortgagee may collect a ,late charge" not to ex-
<br />ceed four coma (4c) for each dollar (fit) 01 each payment more than fifteen (15) days In arrears, to cover the extra expense Involved
<br />in handling delinquent Payments.
<br />3. That If the total of the Payments made by the Mortgagor under (a) of paragraph 2 preceding shag exceed the amount of the payments
<br />actually made by the Mortgagee for ground rents, taxes and assessments or Insurance premiums, as the ca -e may be, such excess, if tine
<br />ban is current, at the option of the Mortgagor, shall be credited by the Mortgagee on subsequent payments to be made by the Mortgagor,
<br />or refunded to the Mortgagor. It. however, the monthly payments made by the Wo )-1nr under (a) of paragraph 2 preceding shag not be
<br />sufficient 10 PINY ground rent, taxes and assessments or Insurance premiums, as the case may be, when the same shag 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 pay-
<br />ment of such ground rents, taxes, assessments or insurace premiums shag be due. If at any time the Mortgagor shag tender to the Mottga-
<br />gee. In accordance with the provisions of the note secured hereby, tug payment of the entire Indebtedness represented thereby. the Me area
<br />gee shag. In computing the amount of such indebtedness, credit to the account of the Mortgagor, any balance renr^ining in the funds ac'-:11
<br />mukated under the provisions of (a) of paragraph 2 hereof If there shag be ., defaull under any of the provisions of this mortgnge re ^,ul6ny
<br />a a pubic sale of the a commencement premises covered hereby, or g lee Mortgagee acquire- n,e properly otherwise after rlefatrlt, the Mortgagee �Irag
<br />apply, al the time of the commencement of such proceedings, or at the time the property is otherwise acquired, the balancer then rcnrainirvl
<br />in the lands accumulated under (a) of paragraph 2 preceding, as a credit against the amount of principal then remaining unpaid under s.md
<br />note.
<br />4. That the Mortgagor will pay AN ground rents, taxes and assessments, water rates, and other governmental or municipal rhnrgcs, fine ,
<br />impositions, for which provision has not been made hereinbefore, and in delaull thereof the Mortgagee may pay the same; and that the fAwt
<br />gager 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, which may he
<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 the extent that
<br />such wig not make this ban usurious), but excluding any income lax, State or Federal, Imposed on Mortgagee, and will file the official reccipt
<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 />mortthe Mortgagor of any such taxes, or If such low or decree provides that any amount so paid by the Mortgagor shag be credited on the
<br />gage debt, the Mort shah Nhave the e right to give ninety (90) days' written notice to the owner of the mortgaged premises, requiring
<br />ninety of the morn given, inns said debt shall become due, payable and collectible at the expiration of said
<br />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 option, may pay or
<br />perform the same, and all expenditures so made shag be added to the principal sum owing on the above note, shall be secured hereby, and
<br />shag beer 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 defauff 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 Mort-
<br />gages 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 />missio i toward � incurred i, renting and managing the some and of collecting rentals therefrom; the balance remaining. N any, to be
<br />0harge Of sad mortgage Indebtedness.
<br />6. That he will keep the ImptOvernents now existing or hereafter erected on the mortgaged
<br />file by the Mortgagee against loss by Are and other hazards, casualties and contingencies Property, insured as may be required from time to
<br />required by the Mortgagee and will pay promptly, when due an genC1eS In such amounts and for such periods o may be
<br />made hereinbefore. AN Insurance shall be carried in companies Y premiums on such Insurance a provision for payment of which has not been
<br />held by the Mortgagee and hove attached thereto los mouses I by the Mortgagee and the table is and renewals thereof shah f be
<br />loss Mortgagor Will a Payable clauses in favor of end in form acceptable to the Mortgagee. In event of
<br />giv Immediate notice by map to the Mortgagee, who may make proof of loss N 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 10", and the insurance
<br />either to the reduction of the indebtedness ha Proceeds' or any Part thereof, may o applied by the Mortgagee at its option
<br />closure of this mortgage or other transfer oft sot thh�or to the restoration in repel of the property damaged. u the event of fore-
<br />closure
<br />and Interest Of the Mort mortgaged property in extinguishment of the indebtedness secured hereby, all right.
<br />gagor in and to any Issuance popsies then In force shah pass to the purchaser or grantee.
<br />g. That as addiional and collateral security for the payment of the note described, and all sums to become due under this mortgage. the
<br />Mortgagor hereby assigns to the Mortgagee AN profits revenues royalties, rights and benefits accruing to the Mortgagor under any and all oil
<br />and gas [eases on said premises with the right to receive and receipt for the same and apply them to said indebtedness as well before as
<br />after dtdaak in the conditions of this mortgage, and the Mortgagee may demand, sue for and recover any such payments when due and pay-
<br />able, but Shell not be required to do so. This assignment is to laminate and become null and void upon release of this mortgage.
<br />1' T�� the engager will keep the buildings upon said 0 remises In good repair, and neither commit nor penrdt waste upon said land, nor
<br />t>•arnk" b be used for any unlawful
<br />11. That N the premises, or any pat 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 eonsidaatipn for such acquisition, to the extent of the full amount of Indebtedness upon this
<br />mortgoge and the note which N is given to secure rerrraltlrg urrpaid, are her y
<br />Pad kx** th to sad MOrtgagea to be applied by the letter on account Of theme t maturing installments s of such Indebtedness.
<br />shah be
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