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<br />87- 3,02460
<br />(a) A sum equal to the ground rents, If any, next due, Pius the premluma that will next become due and payable on policlat of fire And
<br />other hazard Insurance covering the mortgaged property, pals taxes and assessments next due on the mortgaged property (all ss
<br />etimated by the Mortgagee) tsss all sums already paid therefor divided by the number of months to elapse before tine (1) month
<br />Prior to, Q�e when such ground rents, premiums, taxes and assessments will become delinquent, such sums to ba head by Mort
<br />9490 la At�tAoipsy "W ground 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 the note secured
<br />hereby shall be added together, and the aggregate amount thereof shag be paid by the Mortgagor each month In a single payment
<br />to be applied by the Mortgagee to the following Rome in the order set forth:
<br />(1) ground refs, taxes. 80904$mefe, flee and other hazard Insurance premiums;
<br />(N) Interest on the now seemed hereby; and
<br />ON) amortizs"O n of the principal of "Id note.
<br />Any deficiency in the amount of such aggregate monthly payments shag, unless made good by the Mortgagor prior to the due dale
<br />of the next such payment, constitute an event of default under this mortgage. The Mortgagee may collect a ,late charge,, not to ey-
<br />aeed four cents (4c) for each dollar ($1) of each payment more than fifteen (15) days In arrears, to cover the extra expense involved
<br />in handling delinquent payments.
<br />1 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 />actuaNy made by the Mortgagee for ground rents, taxes and assessments or insurance premiums, as the case may be, such excess, if flip,
<br />loan, is current. at the option of the Mortgagor, shaft be credited by the Mortgagee on subsequent payments to be made by the Mortgagor,
<br />or refunded to the Mortgagor. II, however, the monthly payments made by the Menynq,r under (a) of paragraph 2 preceding she# 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 shag 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 shell be due. If at any time the Mortgagor shag tender to lire Mortga
<br />gee, In accordance with the provisions of the note secured hereby, fug payment of the entire indebtedness representod Ihemby. the Mortga-
<br />gee shag, In computing the amount of such indebtedness, credit to the account of the Mortgagor, any balance rem�ininq in the funds acr:u-
<br />mutated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any of the provisions of this mnrtgnge re ^ufrinq
<br />In a public sale of the premises covered hereby, or If the Mortgagee acquire-, the property otherwise alter default, the Mortgagee- ^,trail
<br />apply, at the time of the commencement of such proceedings, or at the time the property Is otherwise acquired, the balance, then remniniurl
<br />In the funds accumulated under (a) of paragraph 2 preceding, as a credit against the amount of principal then remaining unpaid under snarl
<br />note.
<br />4. That the Mortgagor will pay all ground rents, taxes and assessments, water rates, and other govemmenial or municipaf charges, fine^ nr
<br />impositions, for which provision has not been made hereinbefore, and in default thereof the Mortgagee may pay The same: and that the IAon
<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, which may be
<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 flip extent trial
<br />such will not make this ban usurious), but excluding any Income tax, State or Federal, imposed on Mortgagee, and will rile the official rereipt
<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 N such law or decree provides that any amount so paid by the Mortgagor shaft 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 e payment of the mortgage debt. If such notice be given, the said debt shah become due, payable and collectible at the expiration of said
<br />Y ( ) days.
<br />B. That should he tall to pay any sum or keep any covenant provided for M this Mortgage, then the Mortgagee, at Its option, may pay or
<br />perform the some, and all expenditures so made shaft be added to the principal sum owing on the above note, shah be secured hereby, and
<br />shah 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 default in the performance of any of the terms and conditions of this Mortgage or the said note, aft the rents, revenues
<br />and Income to be derived from the mortgaged premises during such time as the mortgage indebtedness shah remain unpaid; and the Mort-
<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 N may pay out of said Incomes all expenses of repairing said premises and necessary com-
<br />missions and expense 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 />9. That he with keep the Improvements now existing or hereafter erected on the mortgaged property, Insured as may be required from time to
<br />time by the Mortgagee against loss by Me and other hazards, casualties and contingencies in such amounts and for such periods as may be
<br />rm*kod by the Mortgagee and will pay promptly, when due any premiums on such insurance provision for payment of which has not been
<br />made hwainbefore. AN insurance shall be tarred 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 knarxediste 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 part 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 property damaged. In the event of fore -
<br />cioswe 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 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 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 leases on said premises, with the right to receive and receipt for the same and apply them to said Indebtedness as well before as
<br />other default in the conditions of this mortgaSe, and the Mortgagee may demand, sue for and recover any such payments when due and pay -
<br />We, 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 land, nor
<br />suffer the said premise to be used for any unlawful purpose.
<br />11. That N the premises, or any Port 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 this
<br />mortgage and the note which it is given to secure remaining unpaid. are hereby assigned by the Mortgagor to the Mortgagee, and shaft be
<br />paid forthwNh to said Mortgagee to be applied by the leper on account of the next maturing Installments of such Indebtedness.
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