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109993
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<br />(a) 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 property, plus taxes and assessments next due
<br />on the mortgaged property (all as estinrared br, the hfortgagee) less all sums already paid therefor divided by the
<br />number of months to elapse before one month prior to the date when such grtumd 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) All payments mentioned in the two preceding subsections of tills paragraph and all payments to he 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 he applied by the Mortgagee to the following items in tilt: order set firth:
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<br />I) ground tents. taxes, assessments, fire and other hazartl insurance premiums;
<br />IT) interest on the note secured hereby_ and
<br />III) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate rot» tthly, pavrticnt shalt, unless made good by the Morl-
<br />gagor prior to the due date of' the next such paynieut, constitute in event of default under tins mortgage. The
<br />Mortgagee may collect a "late charge" riot to exceed f,%, cents (4,) for each dollar (51 i of eacil pavment more
<br />than fifteen (I5) days it arrears to cover the extra expense involved in handling delinquent payments.
<br />8. That if the, total of the payments made by the Mortgagor under a ! of paragraph 2 preceding, shall exceed
<br />the amount of payments
<br />actually made by the .Mortgagee for artmnd 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 suhseyuent payments to Ilea made by the Mortgagor, or refunded to the :Mortgagor. If, however, the
<br />monthly payment:; made by the Mortgagor under (a� of paragraph ? preceding shall riot 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 necessary to make up the deficiency, on or before
<br />the date when payment of such ground rents, taxes, assessments nr insurance premiums shall be due- If at ainv
<br />time the Mortgagor shalt tender to the Mortgagee, in accordance with the provisions of the note secured hereby,
<br />full payment of the entire indebtedness represented thereby, the Mortgagee shall, in computing the amount of such
<br />indebtedness, credit to the account of the Mortgagor xlik�rnotmtatxtracirwrtrcfiertxhtxlaat�eicslitt !trtat>@ftfc9thcadx�tttll tx'x
<br />iu A afv ai:tdtcfce remaining in Voter"
<br />runt any balance remaining in the funds accumulated under the provisions of (a) of paragraph 2 hereof. if there
<br />shall be a default under any of the pmvis;:ms 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, or at tilt• time the property is otherwise acquired, the balance then remain-
<br />ing in the funds accumulated under (3% of paragraph ? preceding. as a credi t against the amount of principal then
<br />remaining unpaid under said note, and shall properly adjust any p;tvmemt.s which -hall {rave been made, u, der (0
<br />of paragraph 2.
<br />4. That the Mortgagor will pay ground rents. taxes, asses,nicnis. water rate,, and other governmenGd or municipal
<br />charges, fines. or impositions, for which pro%sion has not been made hercinbcforc. and in default thereof the Mortgagee may
<br />pay the same. and that the Mortgagor % %ill promptly deliver the oliicial receipts therefor ro the Mortgagee.
<br />5. The Mortgagor will pay all lase, which may he levied upon the Mortgagees interest m ,aid real estate and improve-
<br />ments, and which may be levied upon this mortgage or the debt secured hereby that only to the c x1cm that ,rich is not 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 pavment %%ith the Mortgagee t Pon violation of this under-
<br />taking. or if the Mortgagor is prohibited ht 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 h% the Mortgagor or any such taxes, or if such law
<br />or decree provides that any amount so paid by the Mortgtagor shall he credited on the mortgage debt, the Mortgagee shall have
<br />the right to give ninety days' written notice to the owner of the mortgaged premise,, requiring the payment of the mortgage
<br />debt. If such notice be given, the said debt shall become due• payable and collectible at [fie 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, ;,t its op-
<br />tion, may pay or perform the satnc, and all expenditures so made shall he added to the principal sum owing on the abo%c note,
<br />shall be secured hereby, and .shall hear interest at the rate set forth in the said note, until paid.
<br />7. That he hereby assigns. transfer, and sets over to the Mortgagee, to be applied toward the payment of the note and all
<br />sums secured hereby in case of a default in the performance of any of the terms and conditions of this Mortgage or the ,aid
<br />mote. all the rents, revenues and inconic to he derived from the mortgaged premises during much 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, re%enucs and income, and ii may pay out of said in-
<br />comes all expenses of repairing said premises and necessary commission and expenses incurred in renting and managing the
<br />same and of collecting rentals therefrom; the balance remaining, if any, to he applied low ;;rd the discharge of said mortgage!
<br />indebtedness.
<br />g. That he will keep the impru%ements now existing o- hereafter erected on the mortgaged property, insured as may he
<br />required from time to time by the Mortgagee against loss b% fire and other hazard%, casualties and contingencies in such
<br />amounts and for such periods as may be required by the Mortgagee and will pay promptly, when due, any premiums on such
<br />insurance provision for payment of which has not been matte hereinbefore. All insurance shall he carried in companies ap-
<br />proved by the Mortgagee and [he policies and renewals thereof shall be held by the Mortgagee and have attached thereto loss
<br />payable clauses in favor of and in form acceptable to the :Mortgagee. in cent of loss Mortgagor will gi%c immediate notice h%
<br />mail to the Mortgagee, who may make proof of loss if not made promptly h% 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 na the Mortgagor
<br />and the Mortgagee joiatly, and the insurance proceeds, or any part thereof, may Ik applied by the Mortgagee ar its option either
<br />to the reduction of file indebtedness herehp ,ccured or t, the restoration or repair of the propcnv d;rmaged to event of foreclo-
<br />sure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured heref %v.
<br />all right, title and interest of the Mortgagor m and to any insurance: ptalicie% then in force shall pawn to the purchaser or grantee.
<br />9 That as additional and collateral seurity for the payment of the note de.,crihcd, and alt sums to hccoorr due under Ihi,
<br />moi1gagC, the Mortgagor hereby a„ign, to the' all profit,, revenue,. ro %allies. rights and henefih accruing hr the
<br />hfortgagor under any and all oil and gas leases nn said prcmt%c,, with rile right to% reccnc ,aid re elpt for the same and apply
<br />them to said indebtedness as wefl before is afte- default in the conditions of thi, morigagt•..snd the Mo%rigagve nv,it tiencind, sac
<br />for and recover any mach payment. when tit d payable. but .hat! not he .equaed „ hl !„ "lilt, .i,sgnmcw t, to armm,ttc
<br />and become null and %oid uno•n release of this ,,,origaite
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