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(b) r 83~Old,,"= (.I J month prior to its due date the annual mortgage insurance premium in order to provide (lUcb holder wtth funds to pay such premium to the Secretary of Housing and Urban Development pursuant to the National HaUling Act,as ameMed, and applicable Regulations thereunder; or (II) If and so long as said note of even date and this instrument are held by th~ Secretary of Housing and Ul:ban~nt. a montltly charge (tnlieuofa mortgage insuratice premium) which shall be in an amount equal' to one-twelfth (112) of one-half (1/2) per centum of the average outstandihg balance due onlbe note computed without taking Into account delinquencies or prepayments; A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable on . Policies of ,ftreat!d otlter hazard insurance cOVllring l1w mortgaged property, plus taxes and assessments next due On t!le moriga~d, propen)' (all as estirnat.?dby the MortgQgee j 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 _n!Swill become delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, pre- milmis; taX.$and special assessmenlS;and 'All payments mentioned in the two preceding subsections of L~is'paragraph and all paymenls to be made under th'lnotesecuredhereby shall be added together, and the aggregate'amounlthereof shan he paid by the Mortgagor each month in a single payment to be applied by the Mortgagee to the following items in the order set forlll: (c) (I) premium charges under the contract of in.urane" with the Secretary of Housing and Urban Development, or monthly chaige (in lieu of mortga!(e insurance l>remiumJ, as the case may be; (fi) ground rents, taxes, assessments, fire and other hazard insurance premiums; (Ill) interest on the note secured hereby; and (IV) amortization of the principal of said note. Any del1ciency in the amount of any such aggregate momhiy payment shall, unless made good by the Mort- gagor prior to the due date ofthe next such payment, constitute an event of default under this mortgage, The Mortgagee may collect a "iate charge" not to exceed li'l" cents (4.) fm each dollar (SI) of each payment more than fifteen (I 5) days in arrear. 10 cover the extra expense involved in handling delinquent payments, :\. That if tlle [<ltal of !lit' payments made by the \Iortgagor und", reO! of paragraph 2 preceding shall ext'eed the amount of pa}lIletl18 ,",wally made by the Mortgagee for around rents, taxes and assessments or insurant'" pre- miums, a.s the case may be. such excess. if the loan .s current, at the option of .he Mortgagor. shall be credited by the Mortgagee on subsequent payments to be made bv the \lort!!a!!or, or refunded to the \lortgagor, If, howeve" the ",onthly paYlll<lnts made by the Mortgagor under fhi of paragraph 2 preceding shall not be sufficient to pay groond rent, t.axes and asseSSMe-nt8 or in~unmc(> premium~. iL~ tht" ca.';,~p ma~' b(>. ",hpn the ~ame ~hall bpcome due and pay- able, thentlte Mortgagor shall pay to the Mort!!:ag.." any amount n,,,',,ssary 10 makp up the dericien,'y, on or before the datD when paym<'f1tof ;;ocIt ground rents, taxe", a"",'('ssmen'" 0' insurance p",miums shall be due" If at any time the 'OOrtgagor shall tender to the 'Iortgage.., in accoroan,'p wiih the pfQ\'ision;; of the no Ie ;;e,'ured hereby, full payment of the entin.' indebtednt,ss f('prespnt"d the",oy, th" \Iortl(agCl' shall. in computing the amount of s!lch indebtedness. credit to the account of the Mortgagor .111 paymems made under the proViSlOllS of fa) of paragraph 2 hereof which the Mortgagee has not bet'oRle obligated to pay to lh.. :-e,'retill)' of Housing ..nd Urban Development and any balan,'e fetmlining in the fund" accumulated under the provisions of (bi of paragraph 2 h..r""f. If t.here shall he a default und"r any IIf th,' PfQ\i",illn" IIf this mOfllt"!!" ".sulting in a public salt. IIf the premises covered hereby, 01' if the \lortgage.' acquires the propert\' nth"f',ist' aflt'r dpfault. th., \Iorl)!ag"" shall apply. at the time of the commen"ement of such proc""ding". af at lht' Urn.' tht' property is ",hNwi",,, acquirec. th., balanc.. then r..main- ing in the funds a.'rumulaLed undet /I) nf paragraph ~ pn.,...Jinj!. a", a ",puit against ,h.. amount of prindpal then remaining unpaid under said note. and shall pmp..rI\' adJu,,", anv pavm.'nb whidl shall haw been mad" under (a! of p...-agraph 2, 4. That [he M(),.tgag\.-~r \..'tlt pay ground rent~. tax.es. J.sses:\mcflt~. \--\ater rutes. ~md other gt.wernmental Of municipal charges. fines. dr impoSitions. for which pruvision ha~ not been made hereinbefore. and in default thereof the Mortgagee may pa)' the same: and that ihe Mortgagor wJII promptl~ deliver the ()fficlal receipts therdor hllhe Mortgagee. 5. The Mortgagor \o\.iIJ pay all ta:\(:~ which may be Ie\ied upon the Mortgagee-.;,; intt'rest in ~altj real estale and improvt". ments. and whi-ch may he levied upon this mOf1g(ige or the- debt ')et:ured nt:'reh\' thm only to the e."tem (hat ~uch is not prohibit- td by law and only h) the exlent that -;uch \\-iH not mah~ thi~ k)an usunou,i, hUI e\eluding any income tax. Stale or Federal. imposed on MOflgagee, and will file the ,,!ficial receil't ,howlflg ,uch pa' ment Wllh the Mortgaltee, Cl'fln violatIOn of this under. taking. or if t~ Mortgagor is pruhibiled t'I~ i\n\' la,,- now or hereafter t:\t\tlng from paying the whole or any ponion of the afore- said taxes. or upon the rendering of any I.'Hurt decree prohibiting the r~l~ mC'n~ r.y tht- Mortgagor or any such (axes. I,)r if such law or decree provid" thaI any amount St, paid hy the Mortpgor ,hall !>e ",edited un the mortgage debt, the Mortgagee ,hall have the right to give ninety day\' written noti,,'e- w (he: ,)\\ nef Hf the rnon~cd prcmise~. requaring the payment of the mortgage debt. If such nolice he giv.n, the said debt ,hall """orne due, p"yable and ,'ollectible althe eXl'iration of ,aid ninety day,. 6. ThaI should he fail to pay any 'um or keep any covenant pr,wtded for in thi, Mortgage, Ihen the Mortgagee. at its op- tion. may pay Of perform the same. and all npenditures '0 made ,hall he added to the principal sum owing on the above note, ,hall be ,ecured herehy, and shall hear interest at the mte "'t forth in the ,aid nOle, until paid, 7, That he hereby assign.. transfers and sets over to the MOttpgee, to be applied toward the payment of the note and all 'urns secured hereby incase of a default in the performa...., of any of the terms and conditions Qf this Mortgage or the said note. all the renls. revenues and iocome to he der.\'ed from the mortgaged premise, during such time as the mortgage indebted- ness shall remain unpaid: and the Mortgagee shall have power I., appoint any agent or agents it may desire for the purpose of repaiting.uid pre-mises and of renting the ),ame ~nd collecting the rents. revenues and income. and it may payout of said in~ comes all expenses. of repairi"lsaid premises and neces,ary cummissions and expen,es incurred in renting and managing the sanie and. of collecting rentals therefn.>m; the balance remaining, if any, to be applied toward the discharge of said mortgage ~d1Ie$s, 8. That he win keep the improvements now .,."ing or hereafter erected on the mortgaged property, insured as may he requiIMfrom time io lime by the MOf1tlagee against loss by lire and othe, hazards, casualties and contingencies in such amounts and for such periods as mal' be required by the Mortgagee and will pay proml'tly, when due, any premiums on such i~ pflwisiDn f(lr paYl1lefllof which has not heen made hereinbefore, All in,urance shall he carried in companies ap- pfOved'bytlM; ~and the policieo and renewals thereof shall he held by' the Mortgllllee and ha\'e attached thereto It's> paY'1lblc; clausu in favor of and in form acc"ptaNe '0 the Mortgil8<<, In event of loss Mortgagor will give immediate notice hy _illo the Mort;llt8e", ..ho may make prooC of It'.. if not made promptly by Mortgagor, and each insurance company con- c<<Md,,:~y a\.iIhoriud and directed to make PlIyment e'lf .uch los> directly to the Mon&llgee Itlstead of to the MortgllllOf anltt_~ jojDtly, and the insurance p",ceed.. .)f any part tkenof, may be applied by the Mortgagee at Its option either to tlw red<>c,tirlft of the iockbted_ he..eby secured or to the restoratiun or repalf of .he propert)' damaged, In event "C foreclo- __ ofthi> ~Ol'other ttamftrof ti~ 10 the nwrlllllled property in.utilllUishment "f the indebtedness secure..! hereby, all ri"':.lHlil~t oftheMon........ ill find to any insurans-e policies then in h)fce ,halll'a>> to the pun: h.,et or gramee. 9. Th:ll:t$ addil4\'ll\olll ~ftd ,~(\Uat('taj S-CCU-flt)i fur the pIt)-mr:nr of the note dcs\:n~. and aU sum~ ~~~ he'..:nrn: dt.-'--C u~ier this -!taP, the M~")f hete!>y' It\Slins to the Ms>rtpgee aM profits, revenues, royalt.." rillhts and benefib ,1l:CruflllllO the ~. Ii"! any Md all oil and p' leases on >aid ~wltl\then,lttlO reeeo... ""w receipt (or the 'atne and aPl'ly 1_ W 'Wd indclMedrw.ss '" well bef,,,.,, as after default It\fbtt cOlldil;.)lls of thb mOf\lll\g<, and the M011Illl&ee may demand, sue fur * _..ver lItly ,"ch l"lyl/ltnl. when due and payahle, hut ,hallnnt be required '" (" do Th.., ....gMlent " W term male at1d ~ nI<iI ami ,,>< HUO.;l2IUM 19,1111