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<br />(a l fM A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable on
<br />policies of fire and other hazard insurance covering the mortgaged ptopeniy, plus taxes and assessments next due
<br />on the mortgaged property (all as estimated br the Mortgagee) less all sums already paid therefor divided by the
<br />number of months to elapse before one month prior to the date when such ground rents, premiums, taxes and
<br />assessments will become delinquent. such sums to be held by Mortgagee in trust to pay said ground rents, pre-
<br />miums. taxes and special assessments; and
<br />(b) 00 All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />the note secured hereby shall be added together, and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a single payment to be applied by the Mortgagee to the following items in the order set forth:
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<br />(I )WO ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(I I )6lla>t interest on the note secured hereby: and
<br />(I I I 41vt 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 Mort -
<br />gagot prior to the due date of the next such payment, constitute an event of default under this mortgage. The
<br />Mortgagee may collect a "late charge'• not to exceed fmar cents (3y) fur each dollar (Si ) of each payment more
<br />than fifteen (15) days in arrears to cover the extra expense involved in handling delinquent payments.
<br />:l. That if the total of the payments made by the Mortgagor underx o) )
<br />f paragraph 2 preceding shall exceed
<br />the amount of payments actually made by the Mortgagee for eround rents, taxes and assessments or insurance pre-
<br />miums, as the case may be, such excess, if the loan is current, at the option of the Mortgagor, shall be credited by
<br />the Mortgagee on subsequent payments to be mate ftv the Mortgagor, or refunded to the Mortgagor. If, however, the
<br />monthly payments made by the Mortgagor under p of paragraph 2 preceding shall not be sufficient to pay ground
<br />rent, taxes and assessments or insurance premiums, as the case may be, when the same shall become due and pay-
<br />able. then the Mortgagor shall pay to the Mortgagee any amount necessar) to make up the deficiency, on or before
<br />the date when payment of such ground rents, taxes, assessments or insurance premiums shall be due. If at any
<br />time the Mortgagor shall tender to the Mortgagee, in accordance with the provi -ions of the note secured hereby,
<br />full payment of the entire indebtedness repr"%:nted thereby, the Mortgagee shall, in computing the amount of such
<br />indebtedness, credit to the account of the Mortgagor ai4ttt9t1h1ttatKttl$ K) Orldemtergxexainceorodwxat )a�mr3
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<br />atttkany balance remaining in the funds accumulated under the provisions of K f paragraph 2 hereof. if there
<br />shall be a default under any of the provi. =ions of this mortgage resulting in a public sale of the premises covered
<br />hereby, or if the Mortgagee acquires the property otherwise after default, the Mortgagee shall apply, at the time of
<br />the commencement of such proceedings �r at the time the property is otherwise acquired, the balance then remain-
<br />funds 04 2 da a credit against the amount of principal then
<br />ing in the accumulated under paragraph preceding,
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<br />a. That the Mortgagor will pay ground rents. taxes. assessments. water rates. and other governmental or municipal
<br />charges. fines, or impositions, for which provision teas not been made hereinbefore. 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 w hich may be levied upon the Mortgagee's interest in said real estate and improve-
<br />ments, and which may he levied upon this mortgage or the debt secured hereby ihut only to the extent that such is nut prohibit-
<br />ed by taw and only to the extent that such will not make this loan usurious)_ but excluding any income tax. State or Federal.
<br />imposed on Mortgagee, and will file the official receipt showing such payment with the Mortgagee. Upon violation of this under-
<br />taking. or if the Mortgagor is prohibited by any law now or hereafter existing from paying the whole or any portion of the afore-
<br />said taxes, or upon the rendering of any court decree prohibiting the payment by the Mortgagor or any such taxes, or if such law
<br />or decree provides that any amount so paid by the Mortgagor shall he credited on the mortgage debt. the Mortgagee shalt have
<br />the right to give ninety days' written notice to the owner of the mortgaged premises, requiting the payment of the mortgage
<br />debt. If such notice be given, the said debt shall become due, payable and collectible 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 op-
<br />tion. may pay or perform the same. and all expenditures so made shall be added to the principal sum owing on the above note.
<br />shall be secured hereby. and shall 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 he applied toward the payment of the note and af!
<br />secured hereby in case of a default in the performance of any of the terms and conditions of this !Mortgage or the said
<br />.sums
<br />note. all the rents. revenues and income to be derived from the mortgaged premises during such time as the mortgage indebted-
<br />ness shall remain unpaid: and the Mortgagee shall have power to appoint any agent or agents it may desire for the purpose of
<br />repairing said premises and of renting the same and collecting the rents. revenues and income, and it may pay out of said in-
<br />comes all expenses of repairing said premises and necessary commissions and expenses incurred in renting and managing the
<br />same and of collecting rentals therefrom: the balance remaining, if any. to he applied toward the discharge of said mortgage
<br />indebtedness
<br />g. That he will keep the improvements nowt' existing or hereafter erected on the mortgaged property, insured ps may be
<br />required from time to lime by the Mortgagee against loss by fire and other hazards. casualties and contingencies in such
<br />amounts and for such periods as may he 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 hereinbefore. All insurance shall he carried in companies ap-
<br />proved by the Mortgagee and the policies and renewals thereof shall he held by the Mortgagee and have attached thereto loss
<br />payable clauses in favor of and in form acceptable to the Mortgagee In event of loss Mortgagor will give immediate notice by
<br />mail to the Mortgagee, who may make proof of loss if not made promptly by Mortgagor, and each insurance company con-
<br />cerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead of to the Mortgagor
<br />Mortgagee the insurance tit any part thereof. may be applied by the Mortgagee at its option either
<br />and the jointly, and proceeds.
<br />it) the reduction of the indebtedness herchy secured or to the restoration or repair of the property damaged. In e, cat of forcclo.
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<br />sure of this mortgage or other transfer of title to the mortgaged property to rxnngutshnteni of the indebtedness secured hereby .
<br />all right, title and interest of the Mortgagor in and to any insurance pnlictes then to force shall pass to the putchaser or grantee
<br />9. Thar as additional and collateral %aunty for the pay ment of the note described. and all sums to hecome due under thi,
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<br />mortgage, the Mortgagor hereby assigns to the Mortgagee all profits. revenues. rosulue%. rights and benefits accruing to the
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<br />Mortgagor under any and all oil and ga. leases on stud premises. with the right to recene and receipt for the same and app!,
<br />theta to said indebtedness as well before its after deLsult in the condmons of !his m„ngarc .,nd the Mortgagov maw dem;tnd . stir
<br />fv,r and mover any such payments when duc ;mti parat:k. hurt shall not t e do -Chi, :rsvtgnmcnt is tr trrntnlatf
<br />,,,,I t•rcume null and void .,:,on release of tht. rn„ncaee
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