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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 bf fire' and other hazard'insurarce'covering.the mortgaged property, plus taxes and assessments next due
<br />on'the mortgaged property (tiff oa estimated by the MortgagceJ teas all Burrs 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 />miurns, 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 amoilrit thereof shall be paid by the Mortgagor
<br />each month in a single payment to applied by the Mortgagee to the following items in the order set forth:
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<br />(I) I1 ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(II) Ift interest on the note secured hereby; and
<br />(III) IM amortization of the principal of said note.
<br />Any deficiency in the amount of any such a &cregat,: mo : :ll• y h.g:r,cu: shall, unless made good by the Mort-
<br />gagor prior to the due date of the next such paymcn,. skmsutute an event of default under this ciongage. The
<br />Mortgagee may collect a "late charge" not to exceed four cents (4y) for cacti dollar (51) of each payment more
<br />than fifteen 051 days in arrears to cover the extra expense involved to handling delinquent payments.
<br />3. That if the total of the payment, made by the Mortratror uudt -i -Wof paragraph 2 preceding 'shall exceed
<br />the amount of payments actualh made by the Mortgagee for emund rents. 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 maff a by the Mortgagor, or refunded to the Mortgagor. If, however. the
<br />monthly payments made by the ►fortgagor under Wof paragraph ' preceding shall not be sufficient to pay ground
<br />rent, taxes and assessments or insurance premiums, as the care may be. »hen the same shall become due and pay-
<br />able, then the Mortgagor shall pay to the Mortgagee any amount oecessarr, 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 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 Rll,- pertnents- nred�aodcr tke�ro+4sisASef f,zJaf- �acagrzptr2-
<br />beveof Which the %IO1kg* 9ee -hu!- 4wrome -eMi ated•terp r-mttn...... et ( ilvoairrg- ad- t=rbart�e�lt>(mrem --
<br />oni -any balance remaining in the funds accumulated under the provisions oft of paragraph 2 hereof. If there
<br />shall be a default under any of the pro%i, ion- of this mortgage resulting in a public sale of the premises covered
<br />hereby. or if the Mortgagee acquires the propert% othensise after doftrult. the Mortgagee shall Lpply. at the time of
<br />the commencement of such proceed" 'T, or at the time the property is othernsise acquired, the balance then remain-
<br />ing in the funds accumulated under`X'of paragraph 2 preceding, as a credit against the amount of principal then
<br />remaining unpaid under said note. awcl� bjUiuwp«nl+ ad}w t ;cRF {tartt� ,viii cJt + a+111►aac.lwawaiadP�rtdc c
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<br />4. That the Mortgagor will pay ground rents. ,ayes. assessments. water rates. and other governmental or municipal
<br />charges. fines. or impositions. for which provision has not been made hereinhetore. 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 />?. The Mortgagor will pay all taxes which may he levied upon the Mortgagee's interest in said real estate and improve-
<br />ments, and which may he levied upon this m :,rigage or the debt secured hereb% i but only to the extent that such is not prohibit-
<br />ed by law and only to the extent that such will not make this loan usuriou %i. but excluding any income tax, Stale 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 be credited on the mortgage debt, the Mortgagee shall have
<br />the right to give ninety days' written notice to the owner of the mortgaged premises. requiring the payment of the mortgage
<br />debt. If such notice he 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 qr perform the same. and all expenditures so made shall he 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 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 said
<br />note. all the rents. revenues and income to he 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 be applied toward the discharge of said mortgage
<br />indebtedness.
<br />S. That he will keep the improvements now existing or hereafter erected on the mortgaged property, insured as may he
<br />required from time to time by the Mortgagee against loss h; fire and other hazards, casualties and contingencies in such
<br />amounts and for such periods as may be required by the Mortgagee and will pay prompth , 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 />and the Mortgagee jointly. and the insurance proceeds. or any part thereof, mac he applied by the Mortgagee at its option either
<br />to the reduction of the indebtedness nereby secured or to the restoration or repair of the property damaged. In event of foreelo.
<br />sure of this mortgage or other transfer of title to the mortgaged property to extinguishment of the indebtedness secured hereby,
<br />all right. title and interest of the Mortgagor in and to any insurance policies then it 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
<br />mortgage. the Mortpegar hcrebl assigns tit the xforigagee all profits, revenues, rovatties, rights and benefits accruing to the
<br />Mortgagor under any anti all mi and gas lease a said premises. with the right to receive and receipt for the same and apply
<br />them to said indebtedness as ~tell before its after default in the condition, of this mortgage ino. the Mortgagee may demand. sue
<br />for and recover any such pas men,s u hen due and payahle, but shall not lx requard so to do 1 "his assignment is to terminate
<br />and become null and yoai upon release ^t this mortgage.
<br />HUD 92143M 19,791
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