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g6_ 105
<br />(a) A sum equal to the ground rents, if any, next due. plus the premiums that will next became due and payable
<br />on policies of fin and other hazard insurance covering the mortgaged property. plus taxes and assessments next
<br />due on the mortgaged Property I&/ its esionefad by the Afongager" less ail sums already. paid therefor di NWA
<br />by the number of months to elapse before one month prior to the date when such ground retches, prariituns.,
<br />taxes and assessments will became delinquent, such sums to be held by Mortgagee in Must to pay said ground
<br />reacts, preemiumss. tars and special wets; and
<br />(b) All payments mentioned in the two precedmg subsections" of ibis paragraph and all payments to be made undo
<br />the note secured hereby shall be added together, and the aggregate amount thereof shall be paid by the
<br />Mortgagor each month in a single payment to be applied by the Mortgagee to the ftillowing items in the order
<br />set forth,
<br />(1) ground rents, taxes, assessments, fete and other hazard insurance Premiums.
<br />(11) interest on the note secured hereby: and
<br />(1II) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate mombly Payment shall, unless made good by the
<br />Mortgagor prior to the due date of the next such payment, constitute an event of default under this mortgage. s
<br />The Mortgagee may collect a "late charge„ not to exceed four cents (4a) for each dollar (Sly of each payment
<br />more than fifteen (15) days in arrears to corer the extra expense involved in handling delinquent payments.
<br />3. That if the total of the payments made by the Mortgagor under (a) of paragraph 2 preceding .shat( eased the
<br />amount of payments actually made by the Mortgagee for ground rents, taxes and asstiisments or insurance prenimms, as the
<br />case may be, such excess. if the loan is current, at the option of the Mortgagor. shall be creahed by the Mtirtgapee an
<br />tmymems tD tie made - -
<br />by the Mortgagor. or rettmded to its Mortgagor. IF, however, the monthly payments made
<br />by the Mortgagor under (a) of paragraph 2 preceding shah not be sufficient to pax- ground rent, tastes and assessments, of
<br />insurance premiums, as the case tray be. when the same shall become due and payabl— thert.the Morigallepr shall pay to the
<br />Mortgagee any amount necessary to make UP the deficieic�, on or before the date when payment of s cb gourd rents,
<br />tastes, assessments or insurance premiums shall be duce_ If at any time the Mortgagor shall tender to the Motgape, in
<br />accordance with the Provisions of the note secured hereby, full payment of the entire indebtedness represented thereby; the .
<br />Mortgagee shall. in computing the amount of such indebtedness, credit to the account of the Mortgagor
<br />any balance remaining in the funds accumulated uttder the Provisim s Of (a) Of paragraph 2 hereof. If there sham be a defauh
<br />under any of the provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the Mortgagee
<br />acquires the Property otherwise after default. the Mortgagee shall apply. at the time of the commeneenent of Such
<br />Proceedings, or at the time the property is otherwise acquired, the balance then remaining in the funds accumulated under (a)
<br />of paragraph 2 preceding, as a credit against the amount of principal then remaining unpaid under said tote-
<br />d. That the Mortgagor will pay ground rents, taxes. assets srater rates, and tinter governmental or manic#
<br />charges, foes, or impositions. for which provision has trot been mate hereinbefore, and in default thereof the Mortgagee tray
<br />Pay the same; and that the Mortgagor will promptly deliver The official receipts therefor to the Mortgagee.
<br />S. The Mortgagor will Pay all taxes which may be levied upon the Mortgagee's interest in said real and
<br />improvements, and which may be levied upon this mortgage or the debt secured hereby flint only to rile exttesn3 rte. such 1.
<br />not prohibited by law and only to the extent that such twill not snake this loan usurious), but excluding any income tax, Stzte
<br />or Federal, imposed on Mortgagee. and viii file the official receipt showing su ill payment with the %forigagm. Upon
<br />violation of this undertaking, or if the Mortgagor it prohibited by any law now or hereafter existing from paving the whole
<br />or any portion of the aforesaid raises, or upon the rendering of any court decree prohibiting the payment by the Mortgagor
<br />or any such taxes, or if such law or test x PrOvid- that any so Paid by the Mortgagor shaff be ardruxt on the
<br />mortgage debt, the Mortgagee shall, have The right to give muety days' w7111en potter to the Owner of cite mormaged prm=ses,
<br />requiring the Payment of the mortgage debt. If such notice be given. the said debt shall become due. payable and ink
<br />at the expiration of said ninety darts.
<br />6_ i n4t should he fail to pay any sum or keep any ccvenant prcnided for in this Mortgagee then The Mot gee_ al its
<br />option, may pay or perform the same, and aii expenditures so made shag be added TO the principal sum Owing on the above
<br />note, shall be secured hereby, and shall bear interest at the raze set forth in the said note, until paid-
<br />That he hereb, assign. transfer=_ and sets over to the Mortgagee. to be applied toward the payment of the note and
<br />ail suns secured hereby in case of a default in the performance of any of the terms and conditions Of this Mortgage or the
<br />said note. all the rents, revenues and income to be derived from the mvT19age ll Premises during such time as the mortgage
<br />indebtedness shall remain unpaid; and the '.Mortgagee shall have power to appoint any agent or agents it may c}sse fo the
<br />Purpose of repairing said premises and of renting the same and collecting the rents. revues and income, and s may pay Oar
<br />of said incomes all expenses of repairing said premises and necessary commissiom and expensK in,- n.*red i ten - and
<br />managing the same and of collecting rentals Therefrom; -,ne balance remaining if any, to be applied tow -ard the discharge of
<br />said mortgage indebtedness.
<br />g. That he will keep the improvements now existing or hereafter erected On the mortgaged property_ insured as tray be
<br />required from time to time by, the Mortgagee against loss by fie and Other hazards. casuainc and contingeuc :es in .tom
<br />amounts and for such periods as may be required by the -Mortgagee and will Pay Promptly, when due. any prem;u n„, Oa sum
<br />insurance Provision for Payment of which has not been made herembefore. Al) insurance shall be married in companies
<br />approved by the Mortgagee and the policies and renewals thereof shall be held by the Mortgageee and have attached zheren
<br />loss payable clauses in favor of and in form acceptable to the 'Mortgagee. In event of lass MO
<br />. notice by maxi to the Mortgagee. wrio may matte proof of loss if not unit Pr Mortgagor, and give immuance -
<br />company concerned is hereby authorized and directed to make ooss di directly Mortgagor, and each lust of 10
<br />Payment for such loss tluectly to ells Mortgagee instead e€ m
<br />the Mortgagor and the Mortgagee jointly. and the insurance proceeds, or any }dart themf, may be applied by the Mortgagee
<br />at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property
<br />damaged- In event of foreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishment of
<br />the indebtedness secured hereby, all right, title and interest Of the Mortgagor in and to any insurance policies then in force
<br />Shall Pass to the Purchaser Or grantee.
<br />9. That as additional and collateral security for the Payment of the note described, and ail sums io become dun under
<br />this mortgage. the Mortgagor hereby assigns to the Mortgagee all profits. revenues, royalties, rights and benefits accruing to
<br />the Mortgagor under any and all oil and gass leases on said premises. with the right to receive and recept for the same and
<br />apply then to said indebtedness as well before as after default in the conditions of this mortgage. and the Mortgagee rosy;
<br />demand, sue for and recover any such payments when due and payable. brut shall not be required so tO do. This assignment !
<br />is to terminate and become null and void upon release of this mortgage.
<br />10. That the Mortgagor will keep the buildings upon said premises in good repair. and neither :Om mt. nor Permit wa&Te
<br />upon said land, sot suffer the said premises to be used for any unlawful purpose
<br />11. That 11 the prcmse;, or an> part thereof, tip Aindemmned under the rso.eT ot rini jest domain, tai wsyviires'r 1, a
<br />Public Use, the darnage -, awarded, ttuc pre. ecds foe the taking cif, art the consideration '•.n such acquisition, w she cattrio a=
<br />the full amount Of ardebtcilrie untin this rriorrgage acid the 114,Tr u'.^.ic g,;tp >e u e rinainarg uapavd art
<br />a:ssigtrcd b. the Mrxtltagm t" -he het +rigafree, and shall be paid torthwc;h ,rs seed ♦§,a,*.ttafee t:+ tx- apphel h, the 1a -',sir
<br />31:.,x, „01: •,f ihp r+cxt if T; :h indebtedness
<br />' 0i• °fit
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