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I 83-- 00098 (1) month 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 National Housing Act, as amended; and applicable Regulations thereunder; or . (II) If and so long as said nose of even date and this instrument are held by the Secretary of Housing and Urban Developrnenf, a monthly charge (tn lieu of a mortgage insurance premium) which shall be in an amount equal to one-ttve}fth (1/121 bf one-half (1 J2) 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, if any, next due, plus the premiums that will next become due and payable on policies of fire-and other hazard insurance covering the mortgaged property, plus taxes and assessments nexfdue oti the mortgaged property jolt as estimated by tJte MarlgageeJ less all sums already paid therefor divided by; the number of months to elapse before one month prior to the date when such ground rents, premiums, taxes and assessments will become delinquent, such sums to be held by hortgagee in trust to pay said ground rents, pre- . rnittms, 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 shat] be added together, and the aggregate amount thereof shall be paid by the Mortgagor each month in a single payment to be applied by the Mortgagee to thz following items in the order set forth: (I} premium charges under the contract of insurance with the Secretary of Housing and Uriran Development, or monthly charge f in Lieu ojmortgage insurance grenriuml, as Ute case may be; (II) ground rents, taxes, assessments, fire and other hazard insurance premiums; (III) interest on the note secured hereby; and {IV) 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 such payment, constitute an event of default under dtis mortgage. The Mortgagee may collect a "late charge" not to exceed tour ants (4tt) fur eadt dollar ($ I) of each payment more than fifteen (15) days in arrears to cover the extra expense invoked in handling delinquent payments. 3. Thai if the total of the payments made by [he \torigagor under jhi of paragraph 2 preceding shall exceed the amount of paymtent_s actually made 6y the 6lorigagee for eround rent., taxes and assessment or insurance pre- miums, as the rase may be, such excess, if the loan is current, at the option of the Alortgagor, shall be credited by the Mortgagee on subsequent payments to 6e made by the Alortgagor, or refunded to the M1tortgagor. If, however, the monthly payments made by the Mortgagor under j h% of paragraph 2 preceding shalt not be sufficient to pa}' ground reel, taxes and assessment or insurance premiums, as the rase ma} be, twhen the same shall become due and pay- a61e, then the Mortgagor shall pay to the Mortgagee any amount necessan to make up the deficiency, on or before the date when payment of such ground rents, taxes, assessments or insurance premiums shall be due. If at any time the Mortgagor shall tender io the 1lortgagee, in accordance twith the provisions of the note secured hereby, fuH'payment of the entire indebtedness represented thereby, the tortgagee shall, in computing the amount of such indebtedness, credit to the account of the Mortgagor all payments made under the prorisions of (u) of paragraph 2 hereof which the Mortgagee has nut become obligated to pay to die ~erretary of Housing and Urban Development and any balance remaining in the funds accumulated under the provisions of i61 of paragraph Z hereof. If there shall be a default under any of the provisions ui this mortgage resulting in a public sale of the premises covered hereby, or if the ~1or[gagee acquires the propert} otherwise after default, the Mortgagee shall apply, at the time of the commencement of such proceedings, or ai the time the property is otherwise acquired, the balance then remain- ing in the funds accumulated under {t~) of paragraph 3 preceding, ns a credit against [he amount of principal then remaining unpaid under said note, and chap properk adjust any payments tthich shall have been made under (a1 of paragraph 8, 4. That the Mortgagor will pay ground rents, taxes, assessments, water rates, and other govtrnmenta) or municipal charges, fines, ur impositions. for which provision has nut Kean msdt hereinbrfore, and in default thereof the 4fortgagte may pay the same: and that the Mortgagor will promptly deliver the otTicial rzetipts therefor to the Mortgagee. 5. The Mortgagor will pay all taxes which ma} be Itcitd upon [he Mortgagee's inures[ in said rzal estate and improve- mtnts,and which may be levied upon this mortgage or the debt secured herchy that onh• to the extent that such is not prohi~it- ed by law and only to the extent that such twill itol make this loan uwriousl, fiat txeluding any income tax, State or Federal, imposed on bfortgagte, and will file the official receipt showing su fi payment tcith the Mortgagee. Upon violation of this under- taking. or if the Mortgagor is prohibited by any lau' note or hereafter existing from paying the whole ar any portion of the afore- said taxes, or upon the rendering of any court decree prohibiting the payment by the Mortgagor or any such taxis, or if such law or decree provides that any amount so paid h}' the Mortgagor shall ht credited on the mortgage debt, the Mortgagtt shall have the right to give Wintry days writun nutict to the owner of the mortgaged premises, reyuiring the payment of [he mortgage debt. !f such notice be given, the said debt shall became dot, payablt and collectihlt at the expiration of said ninety days. 6. That should he fail to pay any sum or kelp any covenant provided fur in this !.fortgagt, then the Mortgagee, at ils op- tion, may pay ar perform the same, and ail expenditures so made shall be added to the principal sum owing on the about note, shall be secured hereby, and shall bear interest at the eau set forth in the said note. until paid. 7, 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 cast of a defeat[ ir. the performance of any of the terms and conditions of [his Afortgagt ar the said note, all the rents, revenues and income to be derived from the mortgaged premises during such time as the mortgage indebted- ness shall remain unpaid; and the Mortgagtt .hall have power to appoint an}' agent or agents it may desire for the purpose of repairing said premises and of renting the same and co0ecting the rents, revenues and income, and it may pay out of said in- comes all expenses of repairing said premists and necessary commissions and expenses incurred in renting and managing the same attd of collewaing rentals ttxrefrom; the balance remaining, if any, to be applied toward the discharge of said mortgage indebtedness. 8, ']'hat he will keep the improvemems now existing or hereafter erected on the mongaged property, insured as may be required trap time- to iirne by the Mortgagee against loss by fire and other hazards. casualties and contingencies in such amounts and for such periwwds as may be required by the Mortgagee and will pay prompt)},when due, any premiums on such insurattct prevision torpayment of which fias not been made hertinbefore. All insurance shall be carried in companies ap- proved by the Mortgagee and the policies and rcnewats thereof shall he held by the Mortgagee and have attached thereto loss payablt clauses in favor of end in form aet eptahlt to the Mortgagee. In octet of Ions Mortgagor will give immediate nutict by mail to the Mortgagee, who may make pn~~f of loss if nut made promptly by Mortgagor, and each insurance company cum caraCd is hereby authoriztd and directed to make payment for such Toss dire: fly to the Mortgagtt instead of to the Mortgagor aatltftt.Moct~tgee joirttl}•, and the imurance proceeds. or anq pan thereof, may be applied by the Mortgagee at its option tither to the reduction of the indthiedntss herchy secured of to the restoration or repair of the property damaged. (n event of foroclo- stu~C of this mott,~age-or other transfer tit title to the mortgaged property in extinguishment of the indebtednesa secured herchy, all righ& tiNe and interest of fht Mortgagor in and to arty insurance policies then in force shall pas, to the purchaser or granut. U. That as additional and ca1laural security for the }wymtnt of the nett describeil, and all sums to beatmt due under this mortgage. the Mortgagor hereby assigns to the Mortgagee alt profits, revenues, ruyaltits, rights and benefits accruing to the Mortgagor under any and all oil atril gas Itast un said premises, with the right to receive and receipt tot the same and app]}' them to said itulthtedntss as welt before ae afurdtfault in the candiuons of this mortgage. and the Mortgagtt may demand, sot for and xatgat mt3 setqQ~~ PR)P~~ -.>vhtn due ar[d payable, but shall not ht rtquirtil sa to da. Iris assignment is to terminate a~ hrxomt ~Itiattf vanfupolrt`tteast^ttMsmortgage. - , Nt:U$1?14JM 19)9)