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(1) month prior fo its due date the annual mer[gage insurance premium in order to provide such oIBer with funds to pay such premium to the Secretary of }lousing and Itrban Development pursuant to the National Housing Act, as amended, and applicable Kegulations thereunder, or (II) if and so long as said note of even date and this instrument are held by the Secretary of Housing and Urban Development, a monthly charge (in lieu oja mortgage insurance premium) which shall be in an amount equal to one•twelfth (1/l2) of nne-half (1/2) per centum of the average outstanding balance due on the note computed without taking into account delinquencies or prepayments; (b) A sum equal to the ground rents, [t any, next due. plus the premiums that will next become due and payable on policies of fire and otfter hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property (all as esrrmated by the rbfartgagee/ less all sums already paid therefor divided by the number of months to elapse before one tnonth prior in the date when such ground rents, premiums, taxes and assessments will become delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, pre- miums. taxes and special assessments; and (c} All paytents mentioned in the two preceding subsections of thisparagraph and all payments to be made under dte Dote secured hereby sha}i be added together, and the aggrtegate amount thereof shall be psid by the Mortgagor each month in a single payment to he applied by the Mortgagee to the following items in the order set forth: (1) premium charges under the contract of insurance wtth the Secretary of Housing and Urban Development, or monthly charge (in lieu of mortgage insurance premimnl, as the case may be; (II) ground rents, taxes, assessments, fire and other hazard insurance premiums; (111) interest on the note scoured hereby; and (IV) amortization of the principal of said note. Any deficiency m Ute amount of any such aggregate monthly payment shall, unless made good by the Mort- gagor prior to the due date of the next such payment, euustitute an event of default under this mortgage. The Mortgagee may collect a "late charge" not to exceed four cents (dy) for each dollar (S 11 of each payment more than fifteen (15) days m arreazs to cover the extra expense involved in handling delinquent payments. :3. 'c'hat if the total of the payments made by the }tnrtgagor under tb; of paragraph 2 preceding shall exceed the amount of payments actually made by the Nongagee far eround rents, lazes and assessments or insurance pre- miums, a_~, the case may be, such excess, [f the loan is current, at the opt ton of the Mortgagor, shall be credited by the Slortgagee on subsequent payments to be made by the Mortgagor, or refunded to the Slortgagor. If, however, the monthly payments made 6y the Mortgagor under ;':; of paragraph 'preceding shall not be sufficient to pay ground rent, taxes and assessments or insurance premium,, as the case ma} 6e, when the same shall become due and pay- able, then the Mortgagor ahall pay t0 the \Icrtgagee anc amount necessary to make up the deficiency, on or before the date when payment u( such ground runts, taxe-, ;usessments or insurance premiums shall be due. If at any time the Mortgagor shalt tender su the 1longagee, in accordance with the provisions of the note secured hereby, full payment of the entire indebtedness represented themhy, the 1lortgsgee shall, in computing the amount of such indebtedness, credit to the ac count of the Mortgagor all payment. made under [hc provisions of (n) of paragraph 2 hereof which the Slortgagee has not become obligated to pay to the Fecretary of Ilnusing .nd Urban Development and any balance remaining in the funds accumulated under the provisions of ("~) of paragraph `l hereof. If there shall be a default under an}- of the provisions ul this mortgage re=ultint_ in a public =ale of the premises covered herebv, or if the 4lortgagee. acquires the property otherwise after dei'autt, the Mortgagee shall apply, at the time of the commencement of such proceedinKs, nr at the rime the proper} is otherwise acquired, the balance then remain- ing in the funds accumulated under r' 1 of parrgraph :' precedent;, a- a credit against the amount of principal then remaininK unpaid under said note, and shall proprr{s :zdjust am~ payments which shall have been made under ra) of paragraph 1. J. 'that the Mortgagor wdl pay ground rrnt+, nxe+. as+esamrnt+. octet rates, and other governmental ur municipal charges, hoe.. or mipusnions. for uhtCh pros tsron ha. not hero mode heremhefure, sod m default thereof the Mortgagee may pay the same, and that the 6ior[gagur wdl promp[!p driver the a+diciai receipts thrreh,r ro the Aiortgager. ~. The Mortgagor urll pay aII taxes w hick may he leveed upon the 1longagee'+ uttrrrst in said real estate and irnprove- mrnls, and which may br levied upon thu mortgage or the debt +ecurrd berth} thus only to the extent that such is not prohibit- ed by law and only to the extent that such will nut make thre loan uwnou+i, .'>ut excluding any income tax, State or Federal, imposed on Mortgagee, and will file the +,tiiciai receipt +huwrng such payment with the Mortgagee. Upon violation of this under- taking, or if the Mortgagor i+ pruhihnrd by any law nou or hrrratter r xi+hngfrom paying the whole or any portion of the afore- said tales, urupon the rendering of any a,un decree prohihning the payment by the i1f ortgagur or any such taxes, or if such law or decree provides that any amount so p:ud by the Mortgagor +hall he credurd on the mungage debt, the Mortgagee shall have the right to give ninety days' wnttrn nudce to the ownri of the mortgaged premises, royuiring the payment of the rnurtgi[ge debt. If such nutter he given, the lord debt ,hall heconix due, payable and collectible at the expiration oI said ninety days. t,. That should he fail to pay am' sum or keep an} covenant provided for in this Mortgage, then [he Mortgagee, at its op- tion, may pay or perform the same, and all expenditures so made shall be added to the principal sum uw ing on the above note. +hall hr secured hereby, and shall bear intrust at the rate set forth in the said note, unfit paid. ', That he hereby assigns, transfers and sets over to the Mortgagee, to he applied toward the payment of the note and all stuns secured beech} in case of a defauh ir. the perfurmamr tit any of the terms and conditions of tha Mortgage or the said note, al the rents, revenues and income to hr derived from the mortgaged premises during such time as the mortgage indebted- ness shall remain unpaid; and the Mortgagee shall haze power to appuim an} agem or agents it may desire for the purpose of repairing said premises amt of renting the same and collecting the reins, revenues and income, and it may pa; out of said in- comes a!1 expenses of rrpairittg said perm»rs and necessary a:mrnissrurn and rxpemes incurred in renting and managing the same and of aillrcting remals therefrom; the balance remaining, [f any, to be applied toward the discharge of said mortgage indrttirdness. g. That he will keep the impruvemrnts now rxisimg or hereafter erceted on the mortgaged property. insured as may Lie reyuired from time to time by the Mortgagee agatrst toss by fire amt other hazards, casualties and contingencies in such amounts and for ouch periods as may hr required by the Mortgagee and wits pay promptly, when due. soy premiums on such insurance provision fur payment of which has rtol been made hereinkxfore. Ail insurance shall t,e ruried in companies ap- proved by the Mortgagee and the polices and renewals ihereaif shalt be held by the Mortgagee and have attached thereto loss payable clauses in faxor of and in form accrpta6le to the M1fortgagre. In event of less Mortgagor will give immediate notice by malt ra the Mortgagor, what may make pr+xrf of loss ii [tot made promptly by Mortgagor, and rash insurance company cun- eomrd is hereby authorized and directed to make payment far sua'h k>ss directly to the Rfertgagee mstrad of 0., the Mortgagor :u[d the ~'kortgagu ;ointly..end the insttrantr proceeds, or any part thereof. may ere applied by the Mtutgager at its option either to the rrducnan of the indrMednes herb} se~urrd or to the rrs[oratic n or repan of the pruprrn damaged. in eoem of foreau- surr of this mautguge wr other vansfer of title to the mortgaged property m extinguishment of the indebtedness secured hereby. altright, fine-nne# i~irrest of the Mttrt~or [n oral U+an} tnsur:mce policies then in face ,hat! pass W the pure baser or granter- y_ That as additional anJ co#latriai srairit} tar the payment of the note desinhrd. sod ail stun. to ise:ome due under rtus mortgugr. the 4turtgagar hereby .,.anrgna [,+ the Mortg-egre alt profits, rcvrnurs, nryalurs, nghts and hrnehK uicrwng to the Mnrtur under any aetd a37 c,ti and ga+teaars :m Bald premrsrs, uyth the nghl W receive and rrsrrpt for the exuse and apply them fo sa[d [ndrtxtednrss as well heftier as after drfauh m the cq[[drt[ans of this mnttgagr. and the xt+vtgagrr may drnuutd, sue E.,r arsd reca.vr[ sn. lush payments when due and payable, tint afialt nut tin rrGuued +o i,> d<, 3 hta ascigmnrtrt is [a trnnutate xnd i+eaaarnr cult and a tied t+pon rrteeac ^t the. mortgage Mivu-22ta3ht t@~79)