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86_.. r 107367
<br />(a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable
<br />on policies of tire and other hazard insurance covering the mortgaged property, plus taxes and assessments next
<br />due on the mortgaged property lull as estimated lty the sfongagee,t less all sums already paid therefor divided
<br />by the number of months to elapse before one month prior to the date when such ground rents, premiums,
<br />taxes and assessments will become delinquent, such sums to be held by Mortgagee in trust to pay said ground
<br />rents, premiums, taxes and special assessments; and
<br />I (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 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 following items in the order
<br />set forth:
<br />(1) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(11) interest on the note secured hereby; and
<br />(111) 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
<br />Mortgagor prior to the due date of the next such payment, constitute an event of default under this mortgage.
<br />The Mortgagee may collect a "late charge'' not to exceed four cents (4e) for each dollar (31) of each payment
<br />more than fifteen t15) days in arrears to cover the extra expense involved in handling delinquent payments.
<br />?. That if the total of the payments made by the Mortgagor under (a) of paragraph 1. preceding shall exceed the
<br />amount of payments actually made by the Mortgagee for ground rents, taxes and assessments of insurance premiums, as the
<br />case may be, such excess, if the loan is current, at the option of the Mortgagor, shall be credited by the Mortgagee on
<br />subscquent payments to be made by the Mortgagor, or refunded to the Mortgagor. If, however, the monthly payments made
<br />by the Mortgagor under (a) of paragraph 2 preceding shall not be sufficient to pay ground rent, taxes and assessments or
<br />insurance premiums. as the case may be, Allen the same shall become due and payable, then the Mortgagor shalt pay to the
<br />Mortgagee any amount necessary io maize up the deficiency, on or heforc the date Allen payment tit such ground rents,
<br />taxes, assessments or insurance premiums shall be due. it at any time the Mortgagor shalt tender to the Mortgagee, in
<br />accordance with the provisions of the note scarred hereby, full payment of the entire indebtedness represemed 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 under the provisions of (al of paragraph 2 hereof. If there shall be a default
<br />under any of the provisions of this mortgage resulting in a public sale of the premise, covered herchy, or if the Mortgagee
<br />acquires the property otherwise after default, the Mortgagee shall apply, at the time of the commencement of such
<br />proceedings, or at the time the property fs othersise acquired. the balance then remaining in the funds accumulated under fa)
<br />of paragraph 2 preceding, as a credit against the amount of ;principal -hen remaining unpaid under said note.
<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 riot been made herembefore. and in default thereof the Mortgagee may
<br />pay the same; and that the Mortgagor Ail] promptly deliver the officiai receipts therefor to the Mortgagee.
<br />5. The Mortgagor Atll par ail taxes which mac be levied upon. the Mortgagee's interest in said real estate and
<br />improvements. and which may be levied upon this mortgage or the debt secured hereby (but only to the extent that such is
<br />not prohibited by law and only to the extent that such will not make This loan usurious), but excluding any income tax. Stave
<br />or Federal, imposed on Mortgagee, and will file the official receipt showing such payment with the Mortgagee. Upon
<br />violation of this undertaking, or if the Mortgagor is prohibited by any law nos, or hereafter existing from paying the whole
<br />or any portion of the aforesaid taxes, or upon the rendering of any :out decree pr>hibi^ng the payment by the Mortgagor
<br />or any such taxes, or if such law or decree pr()vides that am amount so p aid by the Mortgagor shall be credited on the
<br />mortgage debt, the Mortgagee shall have tie right to gis, try r: days' Aritter, notice ro the owner of 'tie mortgaged premises.
<br />requiring the payment of the mortgage -debt_ If such tiotse be g!sen, the said debt ,hall become due, payable and collectible
<br />at the expiration of aid ninety days
<br />6. That should he fail to pay any sum or keep any ,.overant provided foi in this Mortgage, then the Mortgagee, at its
<br />option, may pay or perform the same, and all expenditures so made shall ae added n) the principal sum owing on the above
<br />note, shall be secured hereby. and shall hear inieresi at the rate set forth it, the end note, umii paid.
<br />That he hereby assigns, transfers and sets over to the %lortgagee, to be applied toward the payment of !tie note and
<br />all sums secure( hereby in case of a default to the performance of any of tlrc teens and condmom (.f this Mortgage or the
<br />said note, all the rents, revenue; and income to be derived trom the mortgaged premises during such time as the mortgage
<br />indebtedness shall remain unpaid; and the Mortgagee shall have pow: to appoint arty ag_•nt ,.?r agents it ma', desire for the
<br />purpose of repairing said premises and of renting tie s:utic and collecting the rents. res•enucs and income, and it may pay out
<br />of said incomes ail expense: of repairing said prenmes and necessary commissions and expenses incurred it-, renting and
<br />managing the same and of collecting rentals thercfrorti; the halance ter naming, it am. to ii- applied toward the discharge of
<br />said mortgage indebtedness.
<br />S. That he Atli keep the improvements now existing or hereatter cre:,ted on the mortgaged property, insured as may
<br />required from time to time by the Mortgagee against loss by fire and other hazards, cas*aahies arid contirgencfes in uch
<br />amounts and for such periods as may be required by the tilorigagee and will nay prom,?ly. .when due. arty premiums on sucli
<br />insurance provision for payment of which has not been made hereinhctore All ;murance shall he carried in companies
<br />approved by the Morigagee and the policies and renewals thereof shall he held by the Ivtortgagee and have attached thereto
<br />loss payable clauses to favor of and in form acceptable to the Mortgagee. in esem of ices, Mortgage* Aill give immediate
<br />notice by mail to the Mortgagee, who may make proof of loss it riot made ronrpth ry Mortgagor, and each insurance
<br />company concerned is hereby authorized and directed to maic payment for such !os,, clue tly ,, he Mortgagee instead of to
<br />the Mortgagor and the Mortgagee )omtiy, and the insurance proceeds, or any part :hereof, 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 r!tic to the mortgaged property in extinguishment of
<br />the indebtedness secured hereby. all right, title and interest of the Mortgagor in and to any insuran e policies then in force
<br />shaft pass to the purchaser or granter.
<br />9. That as additional and collateral security for the payment of the note described, and all sums to become due under
<br />this mortgage, the Mortgagor hereby assigns to the Mortgagee all protits, revenues, royaiues. tights aria benefits accruing to
<br />the Mottgagor under any and at] oil and gas leased on said premises, with the right to receive and receipt for the same anu
<br />apply them to said indebte:inesss as well before as after default to the condition, of itm mortgage, and the Mortgagee niai
<br />demand, sue for and taover any such payments when due and payable, but shali not be required so to dn. Ill's assignment
<br />is ,o terminate and become null and void upon release of this mortgage.
<br />10. That the Mortgagor will keep the buildings upon, tatd prorates ;ri good repair, and ncahct ,nm:nit nor per?rut was+r
<br />urson said land. nor suffer tit-- said premises to be used for sinfs tmiswtul purpose
<br />11- That fi tfte mcmises, stir any I ag thercol, he condemned :rode; the power a; eminent dnniani_ n, e, giurcd for
<br />r *atttilfa' u e, tlse chin get .-- xrsiei'i.:he p,o "eed, tr. ;tie !ak rig ..r, of 0,, for tic :, a� ,ursni :,n. ?:• tht' rVr ;,�
<br />the lull tttroasnt. tf sndei*tcdnres upr.rt 'hi, rnorte ago and the n tae :.1 .� :,i �.. Aiven c —Te r ;miin�.s&
<br />ares'it,rd *v Ilse Ica ",he Motigaitte. ate, t tsasd .tsrrfi� +,t,: aid "Aort.aa .. „ , 5 ,?rd hti t•c i,.
<br />s ,tou r,° mr next noaronng metal #Inc :t stick idt"Ici4tw"
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