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<br />14648'7
<br />(aWO
<br />(b fsorx
<br />on)
<br />A suer
<br />policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property /aifair esrimared b), 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, premituns, 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 assessnnei:ts: and
<br />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 loge [her. and the aggregate amount thereof stall 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:
<br />(t) Oto ground rents, taxes, assessments, fire and other hazard insurance premiums,
<br />interest on the note secured hereby: and
<br />{III )aXl�t amortization of the principal of 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, constitute an event of default under this mortgage. The
<br />Mortgagee may collect a "late charge" not to exceed locr cents (4¢) for each dollar W) of each payment more
<br />than fifteen (15) days in arrears to cover the extra expense involved in handling delinquent payments.
<br />(a)
<br />3. That if the total of the payments made by the Miortgagor under AMilif paragraph 2 preceding shall exceed
<br />the amount of payments actually made by the Mortgagee for around rents. taxes and assessments or insurance pre-
<br />miums, as the case may be, such excess, if the loan is current, at die option of the Mortgagor, shall be credited b
<br />the Mortgagee on subsequent payments to be. ma a by the Mortgagor. or refunded to the Mortgagor. If, however, the
<br />monthly payments made by the Mortgagor underof paragraph 2 preceding shall not 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 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 WWAM XZ
<br />%
<br />AM any balance remaining in the funds accumulated under the provisions SHO of paragraph 2 hereof. If there
<br />shall be a default under any of the provisions 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 proceedin t or at the time the property is otherwise acquired, the balance then remain
<br />ing in the funds accumulated untlerxWJ( paragraph 2 preceding, as a credit against the amount of principal then
<br />remaining unpaid under said note, ulydip
<br />gtl4Ngii�iil>�itt>a
<br />4. That the !Mortgagor will pay ground rents. taxes. assessments, water rates, and other governmental or municipal
<br />charges. fines, or impositions, for which provision has not been made hereinhefore. 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 />5. The Mortgagor will pay all taxes which may be levied upon the Mortgagee's interest in said real estate anJ improve-
<br />ments, and which may be levied upon this mortgage or the debt secured hereby (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 usurious). but excluding any income tax, State 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 anv law rtow 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 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 premises, requiring the payment of the mortgage
<br />debt. If such notice be 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 or perform the same, and all expenditures so made shall be 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 />That he hereby assigns. transfers and sets over to the Mortgagee, to he 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 />tote, all the rents, revenues and income to be 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, io be applied toward the discharge of said mortgage
<br />indebtedness.
<br />S. That he will keep the improvements now existing o• hereafter erected on the mortgaged property, insured as may he
<br />required from time to time by the Mortgagee against loss by fire and other hazards, casualties and contingencies in such
<br />amounts and fox 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 made herembefore. All insurance shall he carried in companies ap-
<br />proved by the Mortgagee and the 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 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 />cealed 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, may be applied by the Mortgagee au its opti. n either
<br />to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged In event of foreclo-
<br />vure of this mortpW or other transfer cif title to the mortgaged property in extinguishment of the indebtedness secured herchv.
<br />aU rigftl title and interest of the Mort gagsx in and to any insurance policies then in force shall pass to the purchaser or grantee.
<br />q. That as additional and collateral security for the payment of the rote deveribcd, and all sums to become due under this
<br />moxlpage. the Moalpspfex hereby assigns to the Mortgagee all profits, revenues. royalties. rights and benefits accruing to the
<br />Mottaagcu modes any and all oil and gas leases rn said premises, with the nghl to receive and receipt for the carne and apply
<br />them to `aid irtdeblednevs ac well before as after default in the conditions of this mortgage. and the Mortgagee miry demaitht. skit
<br />for and recover any such paymcnts when due and payable, Nut shall not be required so to do I'hrs assignmcot rs to terminate
<br />and beco>rtre null arid void utmm rrlease of this morlitaae.
<br />H to 9214 -IM 0 not
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