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83,.~006G~ (1) month prim to its due date the annual mortgage insurance premium in order to provide such holder with funds to pay such premium to the Secretary of Housing and Urban Uevetopment pursuant to the National Housing Act, as amended, and applicable Regulations thereunder; or (tI) 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 fie+- ~f a mortgage insurance premium) which shall be in an amount equal to one-twelfth (IJl2) of one-! df (f /2) per centmn of the average outstanding balance due on the note computed without taking inh account delinquencies or prepayments; (b) A sum equal to the ground rents, if any, next due, p~ the premiums that will next become due and payable on policies of fire and other hazard insurance covering N~~ mortgaged property, plus taxes and assessments next due on the mortgaged proprrty (all as estimated bt' the Arortgagec) less all sums already paid therefor divided by the number oC months to elapse before one month prior to the date when such ground rents, premiums, lazes 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 payments mentioned in the two preceding subsections of this paragraph and all payments to be made under the note secured hereby shall be added together, and [he aggregate amount thereof shall be paid by the Mortgagor each month in a single payment to be applied by the Mortgagee to the following items in the order set forth: (1) premium charges under the contract of insurance with the Secretary of Housing and Urban Development, or montldy char!•c (in lieu of mortgage insurm+re premium/, as the case may be; (1[) ground rents, taws, assessments, fire and other hazard insurance premiums; (111) interest on the n~.ae secured hereby; and (1V) amortization of the principal of said note. Any deficiency in the amount of any such aggregate rnunthly payment shall, unless made good by the Mort- gagor prior to the due date of the next such payment, constitute an event of default under this mortgage. The Mortgagee may collect a "late charge" not to exceed f~nn rents (4g) for each dollar ($ I) of each payment more than fifteen (1 S) clays in arrears to cover the extra expense involved in handling delinquent payments. 3. That if t-te total of the r eyments made by the M1lnrtgagar under (bl of paragraph 2 preceding shall exceed the amount of payments acUrally made by the Piortgagee for emund rents, faze= and assessments or insurance pre- miums, as the case may be, such excess, i[ the Io:m is current, at the option of the Mortgagor, shall be credited by the \lortaagee on subsequent pa}ments to be made by the Vnrtgagnr, or mfundml to the 1lortgagor- If, however, the monthly payments made by the Mortgagor under fist of paragraph Z preceding shall not be sufficient to pay grwnd rent, taxes and assessments or insurance premiums, as the case ma} be, when the same shall become due and pay- able, then the Alortgagor shall pay to the Alortgagee any amount necessary to make up the deficiency, on or before the dale when payment of such gmund mots, taxes, assessments or insurance premiums shall be duo. (f at an}' time the 1longagpr shat! tender Lo the 11or[gagee, in accordance with the provisions of the note secured horeby, toll payment of the entire indebtedness trpn:eented thereby. the 1lortgagee shall. in computing the amount of such indebtedness, credit to the account of the Mortgagor all payments made under the provisions of (a) of paragraph 2 hereof which the 1lortgagee has not became obligated ar pay to the tiecretan' of Housing ,nd Urban Development and any balance rem;+ining in Hto funds accumulatt•d under the pnovisions o[ i'J of paragraph 2 hereof. (f there shah be a default under any of the provisions of U?+- mortgage insulting in a pablic sale of the premises covered hereby. or if the 1lortgagee acquires the property otherwise afkr de(au1t, the tlortgagee shall apply, at the time u( the commencement of such proceedings, or at the ii:ac the property is otherwise aeyuired, the balance then remain- ing in the funds acrnmululed under (G) of parngrtl,h -' preceding, us a credit against the amount of principal then remaining unpaid u^ ~ •r said nose, and shall properlt adjust any p;r}ments which shall have heen made under (rr! of paragraph 2, 4. That the M,~ ~~ cur will p,+~ ground rent.. taxes, assessments. water rdes, and other governmental or municipal charges. fines, or impositions, for u rich proyrsiun has nut heen made hereinbefore. and in default thereof the Mortgagee may pay the same; and that the Mortgagor will promptly deliver the official receipts therefor to the Mortgagee. S. The Mortgagor rill pay alt taxes which may hr le, fed upon the Mortgagee's interest in said real estate and improve- mems, and which mat be levied upon this mortgage or the debt secure) hereby (but only to the extent that such is not prohibit- ed by law and only to the extent that such wilt nut make this Inan usuriousl, but excluding any income tax, Stott or Federal, imposed un Mortgagee, and wit! file the official receipt .hue ing such payment with the M1fortgagee. Upon violation of this under- taking, or if the Mortgagor is prohibited by any law now or hereafter existing from paying the whole or any ptxtion of the ahxe- saidtaxes, ur upon the rendering of any court decree prohihidng the payment by the Mortgagor or any such taxes, or if such law or decree provides that any amount so paid M' the Mortgagor shill he credited on the mortgage debt, the Mortgagee shall have the right to give ninety days' written notice to the owner of the mortgaged premises. requiring the payment of the mortgage debt. If such notice tee given, the said debt shall become due. payable and collectible at the expiration of said ninety days. 6. That should he fail to pay any sum or keep any covenant provided for fn this Mortgage. then the Mortgagee, at its op- tion, may pay or perform the same, and all expenditures so made shall he added to the principal sum owing on the above note, shalt be secured herehv. and shall bear interest at the rate set forth in the said note, anti! paid. '. That he hereby assigns, transfers and sets over to the Mortgagee, to he applied toward the payment of the note and all sums secured hereby in case at a Default in the performance ut any of the terms and conditions of this Mortgage or the said note, alt the rents, revenues and income to he derived (mm the mortgaged premises during such time as the mortgage indeMed- ness shall remain unpaid; and the Mortgagee shall have power to appoint any agent or agents it may desire for the purpose of repairing said p*emises and of renting the same and collecting the rents, revenues and income. and it may pay nut of said in- t:omes all expenses of repairing said premises and necessary commissions and expenses incurred in renting and managing the same and of collecting rentals therefrom; the balance remaining, if any, to be applied roward the discharge of said mortgage indebtedness. R. That he wilt keep the improvements now existing or hereafter erected nn the mortgaged property, insured as may be required from time to time by the Mortgagee against loss by fire and other hazards, casualties and contingencies in such amoums and for such periods as may be required by the M1fortgagce and Witt pay pmmplly, when due, any premiums on such insurance provision far paymtot of which has ~~~~~ t,een made hereinbefore. All insurance sh:dl be carried in companies ap- proved by the Mortgagee and the policies and rrrewals thereof shall he held by the Mortgagee and have attached thereto loss payable clauses in favor at and in {orm acceptable to the Mortgagee. in event of toes Mortgagor will give immediate notice by mat! to the Mongaget. ahe may make prtwf rat loss it nut made promptly by i!:crigagur. aad each insurance company arn- cerned is hcroby autixuized and directed to make payment tnr such Inns directly to the Mortgagee instead of w the Mortgagor and the Mortgagee jointly, and the insurance proceeds. or any pan thereof, may he applied by the Mongagre at its option either Yo the redtaaitxt of the indebedness hereby secured ur to the restoration or repair o[ the proprrty damaged. In event of Grreclo- sure of Ibis mongagt or tuber transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby. ail right, title and interest of the Mortgagor in and k, an} insurance policies then in force shall pass to the purchaser of grantee. 9. "rhat.rs addiitonal and callattral security for the payment of the note descrit+td, and all sums to bccemt Jar under this mortgage, the Mortgagor herthy assigns to the M1turtgagee _ajf~profits, revenues, royalties. rights and benefits accreting to the Mortgaatlu uruter any and at! oil and gas leases nn said premise's. with the nght to reserve and receipt flee tttr same and apply them to smd irttltbtrdtxss as wr8 btfnre as after detach in the condlii<sns of this rnartgage, and the fvtnrtttagee ma} drmattd. seer tnr and tecovrr any vucft payments whan due attd payabft, Istrt shalt ntu be rrqurred su t,: de TMs aserknrnent is to trrntirtatr and E,r~onte Haft and vatd u~+n rettasc crf this mortgage.