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I 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 nex' due
<br />on the mortgaged property talf as estimared 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 />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 amount thereof shall be paid by the Mortgagor
<br />each rionth in a single payment to he applied by the Mortgagee to the following items in the order set forth:
<br />(I) ]* ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(1 I) > interest on the note secured hereby; and
<br />(I 11)ffWI 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 for :r cents (4K) for each dollar (S1 I of each payment more
<br />than fifteen 05) 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 Mortgagor under XRX of paragraph 2 preceding shall exceed
<br />the amount of payments actually made by the Mortgagee for hound rents, taxes 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 he credited bi
<br />the Mortgagee on subsequent payments to be made by the Mortgagor. or refunded to the Mortgagor- If, however, the
<br />monthly payments made by the Mortgagor undegfW of 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 necessar% to make up the deficiency. on or before
<br />the date when payment of such ground rents, taxes. assessments or insurance premium.- 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 ! �i> lkX dtflXltltXl6()pllt9t�JtUpbtX�l(
<br />X1u1Ig0Uf 111( 111Qt7if �lROWI AGt�( ��flllflAl !@c�cllllUG�lilffF�l4lRIAOEX
<br />MO any balance remaining in the funds accumulated under the provisions bfjk) 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 crommencement of such proceedings, or at the time the property is otherwise acquired, the balance then remain-
<br />ing in the funds accumulated unde bf paragraph 2 preceding, as a credit against the amount of principal then
<br />remaining unpaid under said note. �g{ tgg�zg�Xlf�lll�111 (StXit�tik"xX!<!1ll�9UflB(R�CX
<br />k,
<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 bereinbefore. 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 Mortgagees interest in said real estate and improve-
<br />ments, and which may be levied upon this mortgage CB 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 show ing 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 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 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 coven ant 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 />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 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 agertis 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 he applied toward the discharge of said mortgage
<br />in&tNedness.
<br />X. That he will keep the improvements now existing or hereafter erected on the mortgaged property, insured as may be
<br />required from time to time by the Mortgagee against loss by fire and other hazards, casualties and contingencies in such
<br />Amounts and for such periods as may he 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 hereinbefore..all insurance shall be carried in companies :ip-
<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 />ceratd 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 at its option 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 />sure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby
<br />All rigid, title And interest of the Mortgagor in and to any insurance policies then in force shall pass ro i he purchaser or grantee
<br />9. That as additional and collateral sea unity for the payment of the note described, and all sums to beco u u el this
<br />rnottgtrtte. the Mortgagor hereby assigns to the Mortgagee all profits. revenues, royalties, tights and fteff fitlya r
<br />Myr utMter any and all oil and gas !rases on said premises, with the right to reseiseand receipt for for s"I :iii . p p
<br />them to valid Indebtedness as well Wore as after default in the conditions of this nmxrgage. Wino! the tlortgagec mils demand. stir
<br />for and recover anti such ;wyments when due and payable. but shall not be requited s„ to do 'I his a�signnwnt r to temmiate
<br />aaf become null and void urkru release of this mortttatte
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