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86--10612
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<br />(aWX 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 clue
<br />on the mortgaged property tall as estimated by the Mortgagee) less all sums 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 />miums, taxes and special assessments. and
<br />(bX4X All payments mentioned in the two preceding subsections of this paragraph and all payments to be made under
<br />the note secured hereby shall he added together. and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a single payment to be applied by the Mortgagee to the following items in the order set forth:
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<br />(1) 0* ground rents, taxes, assessments, fire and other hazard insurance premiums:
<br />01) OW interest on the note secured hereby; and
<br />(1 I I frkb amortization of the principal cif said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good by the Mort-
<br />gagor prior to the due date of the next such payment• aarstitute an event of default under this mortgage. The
<br />Mortgagee may collect a "late charge" not its exceed t„ur hems (4V) foi each dollar t$l I of each payment nnhre
<br />than fifteen (I 5) day's ip arrears to cover the extra expense involved in handling delinquent payments.
<br />3. That if the total of the payments made by the Mortgagor under i XXXrf paragraph 2 preceding ,hall exceed
<br />the amount of payment: actually made by the Mortgagee for cr•ound rents, taxes and assessments or insurance pre-
<br />miums, as the cage may be, such excess, if the loan is current, at [lie option of the Mortgagor. shall he credited b%
<br />the )lortgagee on subsequent payments to he ma�e y the Mortgagor, or refunded to the Mortgagor If, however. the
<br />monthly payments made by the Mortgagor under* , of paragraph _' preceding .hall not he sufficient to pay ground
<br />rent. taxes and assessments or insurance premiums. as the case may he when the same -hall become due and pay-
<br />able, then the Mortgagor ,hall pay ter the Mortgagee any amount necessary to make up the deficiency, on or before
<br />the date when payment of such ground rents. taxes, a- ssessments or insurance premiums shall be due. If at am
<br />time the Mortgagor shall tender to the Mortgagee, in accordance with the piny isiuns 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
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<br />AM
<br />any balance remaining in the funds accumulated under the mvistons n ><of paragraph 2 hereof. If there
<br />shall he a default under any of the pracisions of this mortgage resulting in a public sale of the premises coxercJ
<br />hereby, or if the Mortgagee acquires the property otherwise after default, the Mortgagee shall apply, at the lime of
<br />the commencement of such proceedin at the time the properi> is others acquired. equired, the. balance then remain-
<br />ing in the funds accumulated under XI a paragraph 2 preceding, as a credit against the amount of principal then
<br />remaining unpaid under said note, R"AMMUMAUMA
<br />4. That the Mortgagor will pay ground rents, laxe,. a, %e —menu. dater rate,. and tither governmental or municipal
<br />charges, fines, or impositions, for which provision has not been made hereint-efore. and in default thereof the Mortgagee may
<br />pay the same: and that the Mortgagor will prompth deliver the ofii. ial receipt, therefor to Ihc Mortgagee.
<br />?. The Morigagor will pay all taxc, which m % he levied upon the \fortg :-lee , interest in said real estate and improve-
<br />ments, and which may be levied upon this mortgage or the debt secured herehv rbm 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 u,unousv. but excluding ant income tax. State or Federal.
<br />imposed on Mortgagee. and will file the official rc:cipl shooing such pay ment with the Mortgagee. Upon %r otation of this under-
<br />taking, or if the Mortgagor is prohibited h} any hen 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 tic• Mortgagor or any such taxes, or if ,rich law
<br />or decree provides that any amount so paid by the Mortgagor ,hall he credited op the mortgage debt, the 'Mortgagee shall hay e
<br />the right to y
<br />give ninety da,' 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. payahle and collectible at the expiration of %aid ninety Jac,.
<br />6. That should he fail to pay any ,um or keep any covenant pus Wed for to this Mortgage, then the Mortgagee. at it, up
<br />tion. may par or perform the same. and all expenditure, ,o made ,hall he added to the principal sum owing .nt the above note.
<br />shall he secured hereby ,and shall hear interest at the rare set forth in the said mote, until paid
<br />7. That he hereby assigns. transfers and sets over to the Mortgagee. to he applied Iow,Ird the payment of the note and all
<br />sums secured hereby in case of a default in the performance of any of the term, 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 ,hall have power to appoint any agent ur agents it may desire for the purpose of
<br />repairing said premises and of renting the same and collecmng the rents. revenue, :Ind income, and it may pan out of said in-
<br />comes all expenses of repairing said premise, :Ind necessary commi,swn, and expense, mcurred in renting and managing the
<br />same and of collecting retrials therefrom: the balance remaining. if any, to be applied towa
<br />indebtedness. rd the discharge of said mortgage
<br />g. 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 lo%, by fire other hazards, casualties and contingencies in such
<br />amounts and for such periods as mat tic required by the Mortgagee and will pay promptly. when duc. any premiums tin such
<br />insurance provision for payment of which has not been made hereinbefore. All insurance shall he carried in companies ,Ip-
<br />eof shall he held by the Mortgagee and have attached thereto I,,,,
<br />proved by the Mortgagee and the policies and renewal, [her
<br />. -of clauses in favor of and in form acceptable to the Mortgagee. In event of lo„ Mortgagor %y ill gixc 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 Ihc \longagur
<br />and the Mortgagee jointly, and the insurance proceeds, or any part thereof. may he applied by the :Mortgagee at its option cithel
<br />to the reduction of the indehtednes, hereby secured or to the restoration or repair of the property damaged. in ey ent of fore, to
<br />sure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indehtednes, secured her,rhv .
<br />all right. title and interest of the Mortgagor in and warty insurance policies then in force shall pa„ to the purchaser or gronee
<br />9. That as additional :md collateral security for the pay merit of the note described. and all ,um, to become due under tin
<br />mortgage. the Mortgagor hereto :aligns to the \lortgagee :dl profits, revenue,. n +yaltie,, rights ,Ind henelit, accrunhg t,, the
<br />Mortgagor tinder any and a!I oil and gas leases on said premises• with the tight to receive and receipt for the sanhc and apply
<br />them to said indehtednes, au well before as after default in the c ondihon, of thi, mortgage. Ind the Mortgagee m n Iirn suit. ,u.
<br />for and recover any such payment, when due and payable, but shall no , , t be required to dr. 1 -his
<br />and hvcome null and void upon release of this ntarivage
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