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I month ~~~ V V Q ~ ` O prior 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 Development pursuant to the NatitSnal Housing Act, as'~mended, and applicable Regulations thereunder; or (]I) If and so long as said note of even date and this instrument are held by the Secretary of Housing and Urban Deveiopinent; a monthly charge`(in lieu oja mortgage insurance premium) which shall be in an amount equal" to one-twelfth (1(1?) of one-half (1/2) per cenitim of the average outstaed#ng balance -due on the note computed ivrittiout taking into at taunt delinquencies or prepayments; _(b} A sum equal io the ground rents, if any, next due, plus the premiums that will next become due and payable on policies of fire and other hazard insurance coveting zhr mortgaged property, plus taxes and assessments next due on the mortgaged property (a// as estimated by. the Mortgageet less all sumsalready paid therefor divided by the number of months to elapse before one month prior to the dart when such ground rents, premiums, taxes and assessments wHl become delinquent, such sums to he held by Mortgagee in trust to pay said ground rents, pte- miurrts, taxesand special assessments; and (c) Ali payments rnentionerf in the two preceding subsections of this-paragragh and all payments to be made under the note secured'hereby shat! be added together, and the aggreeate amount thereof shat! be paid by the Mortgagor each month in a single payment to be applied by the Ivlartgagee ra the following items in t}se order set- forth: (I) premium charges under the contract of insurance with the Secretary of Housing and Urban Development, ar monthly charge (tn lieu njmortgage insurance pre m-sum/. as the case may be; , (II}. ground rents, taxes, assessments, fire and other hazard insurance premiums; (III) interest on the note secured hereby; and (tV) amortization of the principal of said note. Any deFiciency in the amount of any such aggregate monthly payment shall, unless made good by the Mort- gagor prior to the due date of the next suds payment, constitute ac.rvem of default under [his mortgage. The Mortgagee may collect a "late charge" not u, exceed tour cents (-tq) fur each dollar (SI) of each payment more than fifteen (I S) days in airears to cover the extra axpense involved in handling delinquent payments. 3. Tkat if the total o[ the payments made by the 4lortgagor under i e i of paragraph :} preceding shall exceed the amount of payments acwally made by the 5lortgagee for eround n:nts, [axes and assessments or insurance pre- miums, as the case may be, such excess, if the loan is current, at dte option of the Mortgagor, shalt be crediced by the Mortgagee on subsequent payments to b[: made b} the Stortgagor, ar refunded to the Mortgagor [f, however, the monthly. payments made by the Mortgagor under (6 % of paragraph 2 preceding shall not be sufficient to pay ground rent, taxes and assessments or insurance premiums, a~ the race may be, whets the same shall become due and pay- able, then the Mortgagor shall pay to the Mortgagee any amount necessan• io make up the deficiency, on or bofore the date when payment of such ground rents, taxes, assessments or insurance premiums shall he due. If at any time the Motigagorshall tender to the Mortgagee, in acconlance with the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the .Mortgagee shall, in computing the amount of such indebtedness, crrdlc to the accaum of the Mortgagor al! payments made under the provisions of (a) of paragraph 2 hereof which the 1lortga8ee has not become obligated to pay to the lecrrtary of HousinK srtd t!rban Development and any balance remaining in the funds aceumu{uted under the provisions of t h1 of paragraph Z hereof. If there shall be a default under any of the provisions of this martgage resulting in a public• sale of the premises covered hereby, or if the Mortgagee xcyuires the pntpert} otherwise after default, the Mortgagee ::hall apply, at the time of the commencement of such proceedings, or at the time the properh is otherwise acyuired, the balance then remain- ing in the funds acrumulated under f ~•1 of paragraph :? precedin€, as a credit against the amount a[ principal then remaining unpaid under said note, and shall properly adjust arty payments whit•h shill have been made under fcl of paragraph 1, J. That the Mortgagor w-i71 pa} ground rent.. rant,, .:~srs>mrnt~, water rate., and other govrrnmrnta! or municipal charges, fines, or impositions, for which provision has not been made herrinheforr, and in default thereof the i4tortgagee may pay the same; and that the Mortgagor will promptly deliver the official receipts therefor to the ,Mortgagee. S. The Rlartgagor will pay all taxes which ma} be levied upan [he Mortgagee': interest in said real estate and improve- ments, and which may he levied upon this mortgage or the debt secured hrrebc thut only to the extent that such is not prohibit- ed by law and only to the extent that such will not make this loan usurious), but rxclutling any income tax, State or Federate imposed on Martgagee, and wilt file the official receipt showing wch payment with the Aiortgxgee. upon violation of this under- taking, or if the Mortgagor is prohibited by am law now or herr:[Rer existing from paying the w hole or any twrtion of the afore- said taxes, or upan the rendering of any coati decree prohibiting the payment by the Mortgagor or any such taxes, or if such law or decree provides that anv amount so paid by the Mortgagor shat) tx . rediced on [he mortgage debt, the 1lortgagre shall have tht right to give ninety days' written noUCe to the owner of the mortgaged premiss, rryuiring the paymrut of the martgage debt. If such notice he given, the said debt ahall became due, payable and callrc[iblc at the etpiration of said ninety days. 6. That should hr fail W pay any sum or keep am covenant provided fur in this Mortgage, then the :t1ortgagre, at its op- tion, may pay or perform the same, and all rxprnditurea sn made shall hr added to the principal sum owittg an the ahoy note, shall 6e secured hereby, and shall bear interest at the rate set forth in the said note. until paid. '. That he hereby assigns, transfers and acts over to the Martgagee, to be applied toward the payment of the note and all sums +ecttted hereby in arse ut a default in the prdormance of an} of the terms and conditions of this Mortgage or the said note, at1 the rents, revenues and income to be drriv°ed from the mortgaged premises during wch time as the mortgage indebted- 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 premises and of renting for same and callrrtirtg the rents, revenue. and income, and it may pay out of said in- comes ati expensts of repairing said premiss and necessary commissions and rxprnss incurred in renting and managing the same and of collecting rentals therofrom; the balance remaining, if any, to he applied toward the discharge of said martgage itrdatitedncss. 'g. 'That fie will keep the improvements now existing er hereafter erected on the mortgaged property, insured as may br required from N[ne w time t+} the Martgagee against loss by fire and other hazards, casualties and contingencies in such amounts and for such periods as may hr required by the Mortgagor and wit! pay promptly, when due, any premiums on such tnsuratice prav[sion for payment of which has not been made hereinbefare. All insurance shall be carried in companies ap- proved by the Martgagee and the policies and renewals thereof shall hr held by the Mortgagee and have attached thereto loss payable clauses in favor of and in form aceeptahlc to the Mortgagee. In event of loss Mortgagor will give immediate notice by mad to the Mortgagee, who may make proof of k+xs if nut made promptly M 4fartgagtx, and rash insurance company con- txrtted is herrt+y authtxittd and directed ro make payment far such lass directly to the Mortgagee instead of to the Mortgagor avid tht Mortgagee jaiftity, and the insttrance proceeds, vu any part thereof, may he applied by tttc Mortgagee at its option either to the reduction of the indehtrdettss berth}' secured ar to the rextaration ar repair of the property damaged. In event at forrclo- sttrc tai Chia m[xtgagr ar Mhrr tranaitt of title to the mtxtgaged property in extinguisfunent otihc indebtedness scored hrrrtzy, all right; Fit1e arNl ir[terestotthe Mtutgagar id and !a anyirtsurance pvilicics then in farce shall pass to the putnhasr or grantee. 9. That as additional and callatrra! security tar ttte pxyn[ent ut the note drsrrihrd, and all sums tx+ became due under this rnorigage, tht ~ltutgaty.K berth} assfgns ta,the Mortgagee ail pnfita. revenues, rayahie+, righFS;s~d-ttan~t g'p~yr(q~ tb the tdortgayar under nay and all oi{ and gas leases as said pttrnlaes, with the riglti lu reueivc and racri(tt tar thee sx`tne and a(±piq them fo said indehtedacsc as wall fir{are as xftor detatih in [he citnditions n[ this mortgage, ;tmt the Mortgagee may demand, sue. for and rearvet any vuch payments when due and payable, lwt steal': not t+c required ;o to do+. This assignment tc to terminate and t+ecamr mitt and votd upon rr!raae ="r [his mortgage,. taU n~tty 1 ~3M tti-79!