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<br />policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next title
<br />on the mortgaged property (WI as etxtinmted btu the Afortgagee) 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 he held by Mortgagee in trust to pay said ground rents, pre-
<br />miums, taxes and special assessments: and
<br />(b) ` 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 a Jded 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) ground rents, taxes, assessments. fire and other hazard insurance premiums:
<br />(11)) interest on the note secured hereby. and
<br />(1 1 I )JW 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 payinertt. c+nnstitute an event of default under this mortgage. The
<br />Mortgagee may collect a "late charge" not to exceed tour cents f4it) for each dollar (51) of each payment !note
<br />than fifteen (15) days in 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 Kgof paragraph 2 preceding shall exceed
<br />the amount of payments actually made by the Mortgagee for ;mound rents, taxes and assessments or insurance pre-
<br />miums, as the case may be, such excess, if the lave is current. at the option of the Mortgagor, shall be credited by
<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 undetlt V 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 necessary to mak, up the deficiency, on or before
<br />the date when payment of such ground rems. 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 UP J)iti14YKIfY)K:7fJ01f7p ( p119pfK7dt
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<br />Auld -any balance remaining in the funds accumulated under the provisions = ill�( 70 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 or at the time the property its otherwise acquired, the balance then remain-
<br />ing in the funds accumulated unde fbf paragraph 2 preceding, as a credit against the amount of principal then
<br />remaining unpaid wider said note. XR*Jdlflkhl<littglt)<IpU�jM)�l t7pt1gp1R11) 7tl(Iljt 7tlt�Rj gXR7 (MIItRIIXpOl7�IXlppl�CJpbfKfK7C
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<br />4. That the Mortgagor will pay ground rents, taxes. assessments. water rates. and ocher governmental or municipal
<br />charges. fines, or impositions, for which provision has not been made hereinbefore, and in default thereof the Mortgagee may
<br />pay the same: and that the Mortgagor w ill 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 and improve-
<br />ments, and which may he 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 ant law now or hereafter existing from paying the whole or any portion of the afore -
<br />wid 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 !hat 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 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 />i. 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 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. to he 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 1'k-
<br />required from time to time by the Mortgagee against loss by fire and other hazards, casualties and contingencies in such
<br />amcunts 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 he carried in companies ap-
<br />ptovedby the Mortgagee and the policies and renewals thereof shall be held by the Mortgagee and have attached thereto Ioss
<br />payable clauses in favor of and in form acceptable to the Mortgagee. in event of toss 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 />cerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead of to the '.Mortgagor
<br />and the Mortgagee joiatly, and the insurance proceeds, or any part thereof, may he 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. to event • f foreclo-
<br />sure of this mortgage or other tramsfer of tide to the mortgaged property in extinguishment of the indebtedness secured hereby.
<br />All right, title and interest of the Mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee.
<br />9. That as additional and collateral security for the payment cif the note described. and all sums to become due under this
<br />mortgage. the Mortgagor hereby assigns to the Mortgagee all profits, revenues. royalties. rights and henefits accruing to the
<br />Mortg gin under any and :all oil and gas leases on said pretenses, with the right to receive and receipt for the same and apple
<br />them to said indebtedness as well before as aftet default in the conditions of this mortgage. and the Mortgagee may dcrim.nd. sue
<br />for And recover any such paymenix when due and payable. hit shall not he required so io do This assigowcnt is to terminate
<br />and become null and void upon release of this niortgaae.
<br />tlti D. 9 ',3 \t Ica 79 j
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