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s fs4 (1) month prior to its due date the annual onortgjge insurance pronitum, to older to provide such holder with funds to pay such premium to the Secretary of Housing and Urhar Development pursuant to the National Housft►g Act, as amended; and applicable Regulations thereunder; or (H} -If, sand 'so long as said note of even date and this instrument are held by The Secretary of Housing and 'Urban, Development, a' monthly charge fin lieu' of a mortgage' insurance premium) which shall be in an amount equal -to one-twelfth -(IM 2) of one -half (i,?2) 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 pit °mtums that w_ ill next become due and payable on pnliefes of fire`and other hazard insurance covering the'min rgaged property, gigs taxis and assesstrsznts next due on the mortgaged 'property ja11 as estimated hii rlre Alorrgagce� less all sums already paid therefor divided by the number, of, months to elapse before one month prig, to the date when such grOnnd rents, premiums, taxes and assessments will become delinquent, such sums to be held by Mortgagee in mist to pay, .said -ground rents,:pre- miums, taxes and special assessments; and (c) All payments in the two. preceding subsections of 11us- paragraph and all payments to be made under' the note secured hereby shall be added together, and the aggregate artiount the eol' shall he paid by the Mortgagor each month 'in >a single payment to be applied tiv the Miutgacee to tine followin_ iron=. in tyre order set forth: (I) premium charges under the contract of insert icc with the Secretary of Flousing and thhan [kvetopment, or monthly charge (in lieu of ?nortgagc insurance pr -2iniu m), as the case may lie; (11) ground rents, taxes, assessments, tare and other hazard insurance frremiunrs; (III) interest on the note secured hereby, and (IV) amortization of the principal of said note. Any deficiency in the amount of any =such aggregate mortliltt- pavmenr shall, unless made good by the Mort- gagor prior,to the due date of the next such payment, coalstitute all event of default under this mortgage. The Mortgagee may collect it "late charge" not to exceed four cents (dy) for each dollar (Sl ) of each payment more than fifteen (15) days in arrears to cover the extra expense involved in handling deiinquent payments. :3. That if the total of the payment= made by the ylortgagor undv.r i b; c! paragraph 2 preceding shall exceed the amount of payments actually made by the Mortgagee for around rents, taxes and assessments err insurance pre- miums; aa'the caseniay be, such excess, if the Dian is current, at the option of the Mortgagor, shall be credited by the Mortgagee on subsequent,payments io he made by the :Mortgagor, or refunded to the Mortgagor. If, however, the monthly payments made by the Mortgagor ender f:r! i of paragraph ' pre- ceding shall not he sufficient to pay ground rent, taxes and assessments 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 soil time the Mortgagor shall tender to the Mortgagee, in accordance with the provisions of the note secured hereby- full payment of the entire indebtedness represented thereby, the Mortgsigpe shall, in computing the amount of such indebtedness, credit to the account of the Mortgagor all payments made under the provisions of (u) of paragraph 2 hereof which the Mortgagee has not become obligated to pay to the Secretary of Housing nd Urban llevelopaten t and any balance remaining in the funds accumulated under the provisions of (L) of paragraph 2 hereof. If there shall be a' default under any of the provisions of this mortgage resulting in a public sale of die premises covered hereby, or if the Mortgagee acquires the property otherwise after default, the Mortgagee shall apply. at the time of the commencement of such proceedings, or at the time the property is otherwise acquired, the balance then remain- ing in the funds accumulated under (b) of paragraph 2 preceding, as it credit against the amount of principal then remaining unpaid under said note, and shall properly adju.�( airy pa)ment., which .shall have been made under (al' of paragraph 2, 4. That the Mortgagor will pay ground --nts, taxes, assessments. water rates, and other governmental or municipal charges• fines, or impositions, for which provision has not heen made hereinbefore. and in default thereof the Mortgagee may pay the same: and that the Mortgagor will promptly deliver the official receipts therefor to the Mortgagee. i. 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 debt 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), but 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 lain 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 be 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 he 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 sum or keep any covariant provided for in this Mortgage, then the Mortgagee, at its op- tion, may pay or perform the same, and all expenditure, so made shall he added to the principal sum owing on the above note, shall be secured hereby. and .hall hear interest at the rate set forth in the ,aid note. until paid. -7. That he hereby assigns, transfers and ,cis over to the Mortgagee. ui he applied toward the payment of the note and all sums secured hereby in case of a default in the performance of any of the term% and conditions of this Mortgage or the said note, all the rents, revenues and income to he 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 hatance remaining, if any. to he applied toward the discharge of said mortgage indebtedness. S. -That he will keep the improvements now existing or hereafter erected an the mortgaged property, insured as may he required from time to time by the Mortgagee against loss by fire and ;,then hazards. :asttahies and contingencies in such amounts and for such periods as may he required by the Mortgagee and sill pay prompik . •ahcn due. ant premiums on such insurance provision for payment of which has not been made hereinbefore. All insurance shall be carried in companies ap- proved by the Mortgagee and the policies and renewals thereof ,hail he held by the Mortgagee ,ind have attached thereto loss payable clauses in favor of and in form acceptable to the Mortgagee In eccnt of !o„ 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 ane directed to make pa %ment for +uch loss direclly to the lfortgagee instead of to the Mortgagor and the Mortgagee jointly, and the insurance proceeds, of any part thereot. nr,1� he appLed h; the %longauee at its option either to the reduction of the indebtedness herchy secured or to the restoration m repair of rile property damaged In Brent of foreclo- sure of this mortgage or other transfer of title ro the morigaged propertt m extinguishment of the mdehic•dnes, secured hereby. all right, title and imerest of the Mortgagor m and !t; ;.m insurance Po!!L!r, then in fnrc •.hafl pas•, To [tic !:ureh;aer for gr:!me r that its additional and eo!lalci d secion fur the p t%inew td tile nnle tit s�rih ,f nd di snt•1, to heir• nc ai a ntur'tgiyc. the Motltiagor hereby as lies to the Mrr!gat,ce all profits r- -edge uy It e n if, and benefits as ii Mortgagor under any and ;dl ml •aid t a, lease' cli 'aid pro use. t.ith the nLhi to tt nr ,1nd irceip+ for the same and apple them to said indch.edoes a, wel! nefon as alter dcfeuh m ihr — nth!!un• of h ie o _ .nd •hc \lorigavec m;,v icm,ind -sue for and recover any ,ueh p.omcn! +,:e•n Jac -11111 pay allie, but ,haN m:t hs 'rytsr c,i ;L' 1 h1, ;1%sltnnirnr „ a, icrminatc aind heconic null and void npt,rt rcleesc ••r tin, mortgage. - HI Iii 9:: i:t7M fy -79) t„ J