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<br />87,_ 106625
<br />(a) A sum equal to the ground rents. N 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, plus taxes and assessments next due on the mortgaged property (all as
<br />estimated by the Mortgagee) less all sums already paid therefor divided by the numbs of months to elapse before one (1) month
<br />prior to the data when such ground rents, premiums, taxes and assessments will become delinquent, such sums to be held by Mort-
<br />gagse 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 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 gems in the order set forth:
<br />(1) ground rents, taxes, assessments, We and other hazard Insurance premiums;
<br />(11) interest on the note secured hereby; and
<br />(ill) amortization of the principal of saga 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 default under this mortgage. The Mortgagee may collect a "late charge" not to ex-
<br />ceed 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 />3. That if the told 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 case may be, such excess. N the
<br />loth is current, at the option of the Mortgagor. shag be credited by the Mortgagee on subsequent payments to be mode by the Mortgagor,
<br />or refunded to the Mortgagor. If, however, the monthly payments made by the Mortgagor under (a) of paragraph 2 preceding shall not be
<br />sufficient to pay ground rent, taxes and assessments or insurance premiums, as the rase 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 shall be due. It at any time the Mortgagor shall tender to the Mortga-
<br />gee, in accordance with the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the Mortga-
<br />gee shag, in computing the amount of such indebtedness. credit to the account of the Mortgagor, any balance remaining in the funds accu-
<br />mulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any of the provisions of this mortgage resulting
<br />in a public sale of the premises covered hereby, or if the Mortgagee acquires the property otherwise after default, the Mortgagee shall
<br />apply, at the time of the commencement of such proceedings, or at the time the property is otherwise acquired, the balance then remaining
<br />in the funds accumulated under (a) of paragraph 2 preceding, as a credit against the amount of principal then remaining unpaid under said
<br />note.
<br />4. That the Mortgagor will pay all ground rents. taxes and assessments, water rates, and other governmental or municipal charges, fines, or
<br />impositions, for which provision has not been made hereinbefore, and in defauh. thereof the Mortgagee may pay the same; and that the Mort-
<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 the extent that
<br />such will not make this barn usurious), but excluding any income tax, State or Federal, imposed on Mortgagee, and will file the official receipt
<br />showing such payment with the Mortgagee. Upon violation of this undertaking, or N the Mortgagor is prohibited by any low now or hereafter
<br />existing from paying the whole or any portion of the aforesaid taxes, or upon the rendering of any court deaes 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 shag 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. N 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 fall to pay any sum or keep any covenant provided for In this Mortgage, then the Mortgagee, at is 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 derive! from the mortgaged prernises during such itme as the mortgage Indebtedness shag 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 inane, and i 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, N any, to be
<br />applied toward the discharge of said mortgage indebtedness.
<br />8. That he will keep the innprovements now existing or hereafter erected on the mortgaged property, insured as may be r
<br />time by the Mortgagee against loss fire and other hazards, casualties and contingencies y squired from time to
<br />by geneies 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 for payment of which has not been
<br />made haroInbeore. AN insurance shag be carried in companies approved by the Mortgagee and the policies and renewals thereof shall be
<br />hold by the Mortgagee and have attached thereto bas payable clauses in favor of and in form acceptable to the Mortgagee. In event of
<br />loss Mortgagor will give immediate notice by rte# to the Mortgagee, who may make proof of loss N not made promptly by Mortgagor, and
<br />each insurance t to M�Aort the le hereby authorized � directed to make payment for such loss erectly to the Mortgagee Instead of
<br />gagor 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 property damaged. in the event of fore-
<br />closure of this mortgage or other transie of We 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 shag pass to the purchaser or grantee.
<br />9. That as add all collateral security for ft payment of the note described, and all sums to become (lire 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 all oil
<br />and gas leases on said premises, with the runt to receive and receipt for the same and apply them to said indebtedness as well before as
<br />site default in the eondgrians of this mortgage, and the Mortgagee may demand, sue for and recover any such payments when due and pay -
<br />able, but shall 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 wig keep the bindings upon said premises in good repair, and neither commg nor permit waste upon said land, nor
<br />suffer the said promises to be used for any unlawful purpose.
<br />it. That N the prornises, or any pat thereof, be condemned under the power of eninent domain, or acquired for a public use, the damages
<br />awarded• to proceeds for the tatdng of, or the considerabon for such acquisition, to the extent of the full amount of indebtedness upon this
<br />mortgage and the note which N is g Ivan to some fansina unpaid, are hereby assigned by the Mortgagor to the Mortgagee, and shah be
<br />Paid fortnwlfh to said Mortgagee to be applied by the latter on account of the nod maturing installments of such indebtedness.
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