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N { (� (1) n �rtth prior a: its due Mate €he ansluai rt tirve tr•,,u at e pr r r tint trs "dci to provide such holder 86.. 140746 with hands ro pay suds premium. ro the h ,f 11 -using sin 'Ind t ;ban Development pursuant [,,the \iatiOnai (lousing Act, as ashen&d ar, art. i..thle Regulations thereunder! or ill) If anti scr long as said note of evert date and this instrument :ue held by the Secretary of Ilousing and Urban Development, a monthly charge tin lieu of a mortgage insurance premiunt) which shall be in an amount equal to one•tweltih ( 1 A '1 of rite -half (It') per centum of the average outstanding balance due on the note computed without taking into account delinquencies or prepayments; (b) A sum equal to the ground rents, if any, next due. plus the premiums that will next become due and payable on policies of lire and other hazard insurance covering the mortgaged property, plus tares and assessments next due on ':he mortgaged property tall as estimared hr ;ire Afork aged less all sums already paid therefor divided by the number of months to elapse before one month poor to the Liate when such ground rents, premiums, taxes and assessments will become delinquent. such sun% to he held FY Mortgagee in trust to pay said ground rents, pre- miums, taxes and special assessments: and (c) All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under the note secured hereby shat: be added tugeahei. and the alfr, :vte amount theteof shall be paid by the Mortgagor each month in a single payment to tic applied by the Mo:,_agre to the following items in the order set forth: (1) premium chargei under the contract of insurance with the Secretary of Housing and ['than Development. or monthly .barge (in lieu of nr„rrgas•e insurrrrrc l,remit(m). as the case may he: (11) ground ients.. taxes, assesstttcsus. tire and r,thcr hazard insurance premiums: (111) interest on the note secured f+ctehv. and (IV) amortization of the principal of said note. Any deficiency m the amount rd any such aggregate monthly payment shall, unless made good by the Mort- gagor prior to the clue date of the next such pavnuia. constitute an event of default tinder this mortgage. The Mortgagee may collect a "late charge" not to exceed hour cents Ott) for each dollar (51) of each payment more than lifteen ( 15 ) Ol;� , 1[, arrears to cover the extra expense involved in handling delinquent payments. -: That if the total of the payment- made by the Mortgagor under rbJ of paragraph ' preceding shall exceed the amount of payments actuall% made by the Mortgagee for Ground rents, taxi= and assessments or insurance pre- the case may be, such excess. if the Iona is current, at the option of the Mortgagor, shall he credited by mium'. as the Mortgagee on subsequent payments to be made by the Mortgagor, or refunded to the Mortgagor. If, however. the monthly payment= made by the Mortgagor under 01 of paragraph 2 preceding shall not be sufficient to pay ground rent, taxes and t-- .essments or insurance premiums. as the case may be. when the same shall become due and pay- able then the Mortgagor shall pay to the Mortgagee any amount necessary to make up the deficiency, on or before the date when payment of such ground rents, taxes. assessments or insurance premiums shall be due. If at any time the Mortgagor shall tender to the Mortgagee, to accordance with the provisions of the note secured hereby. full payment of the entire indebtedness represented thereby, the Mortgagee _hall, in computing die amount of such indebtedness, credit to the account of the Mortgagor all payments made under the provisions of (a) of paragraph' hereof which the Mortgagee has not become obligated to pay to the Secretary of Housing and urban Development and any balance remaining in the funds accumulated tinder the provisions of (b) of paragraph 2 hereof. If there Al shall be a default under any of the provi -ions of this mortgage resulting in a public sale of the premises covered hereby, or if the Mortgagee acquires the property otherwise after default, the Mortgagee shall apply, at the time of t, the commencement of such proceedings, or at the time the property is otherwise acquired, the balance then remain- ing in the funds accumulated under ('r) of pankgraph "_ preceding, as a credit against the amount of principal then z 3 remaining unpaid under said note, and -hall properly adjust any payment= which shall have been made under (a) of paragraph 2. A. That the Mortgagor will pay ground rents- taxes, assessments, water Tales. and other governmental or municipal charges, fines. or impositions, for which provision has not been made hereinbefore. and in t:efault thereof the Mortgagee may pay the same: and that the Mortgagor will promptly deliver the official receipts therefor to the Mortgagee. 5. The Mortgagor will pay all taxes which may he levied upon the Mortgagee's interest in said real estate and improve- ments, and which may he levied upon this mortgage or the deht secured hereby (but only to the extent that such is not prohibit- ed by law and Only to the extent that such will not make this loan usurious). hilt excluding any income tax, State or Federal, imposed on Mortgagee, and will file the official receipt showing such payment with the Mortgagee. Upon violation of this under- taking. or if the Mortgagor is prohibited by any law now or hereafter existing from paying the whole or any portion of the afore- said taxes. or upon the rendering of any court decree prohibiting the payment by the Mortgagor or any such taxes, or if such law or decree provides that any amount so paid by the Mortgagor shall he credited on the mortgage debt. the Mortgagee shall have the right to give ninety days' written notice to the owner of the mortgaged premises, requiring the payment of the mortgage debt. If such notice fie given, the said debt shall become due. payable and collectible at the expiration of said ninety days. 6. That should he fail to pay any sam or keep any covenant provided for in this Mortgage, then the Mortgagee, at its op- tion, may pay or perform the same. and all expenditures so made shall be added to the principal sum owing on the above note. shall he secured hereby, and shall bear interest at the rate set forth in the said note, until paid. '. That he hereby assigns. transfers and sets over to the Mortgagee. to he applied toward the payment of the title and all sums secured hereby in case of it default in the performance of any of the terms and conditions of this Mortgage or the said note, all the rents, revenues and income to t-e derived from the mortgaged premises during such time as the mortgage indebted- ness shall remain unpaid: and the Mortgagee shall have power to appoint any :agent or agents it may desire for the purpose of repairing said premises and of renting the same and collecting the rents. revenues and income. and it may pay out of said in- comes all expenses of repairing said premises and necessary commissions and expenses incurred in renting and managing the same and of collecting rentals therefrom-. the balance remaining, if any, to be applied toward the discharge of said mortgage indebtedness. N. That he will keep the improvements now existing or hereafter erected on the mortgaged property- insured as may be required from time to time by the Mortgagee against loss by fire and other hazards. casualties and contingencies in such amounts and for such periods as may he required by the Mortgagee and will pay promptty. when due, any premiums on such insurance provision far payment of which has not been made hereinbefore. All insurance shall he carried in companies ap- proved by the Mortgagee and the policies and renewals thereof shall be held by the Mortgagee and have attached thereto toss payable clauses in favor of and in form acceptable ur the Mortgagee. In event of loss Mortgagor will give immediate notice by mail to the Mortgagee. who may make proof of loss if not made promptly by Mortgagor. and each insurance company con- cerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead of to the Mortgagor and the Mortgagee jointly. and the insurance proceeds, or any part thereof, may he: applied by the Mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In ewcnt of foreclo- su re of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby. L all right title and interest of the Mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee. '+. That as additional and collateral security for the payment of the note descrihed, and all suns to become due under this rights and benefits accrumg to the h mortgage. the Mortgagor hereby assigns to the Mortgagee ail profits. re macs. n yahies. Mortgagor under any and all oil anti gas leases kill said premises. •.with the right ae receive and receipt for the s,une and apply them to said indebtedness its well before ac after default in the condinotts of this mortgage. and the Mortgagee• maw demand. sue . for and reenser any such pay mrnts when file :end payable. but .hall not hr reaune,i do. This assgnmcnt i, . to lertmnmv and tsecorne mai and %old imon rr ?east of this nwrty!acc.