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I 83-00170C (I) month prior to its due dare the annual mortgage insurance premium in order to provide such holder with funds to pay such premium (0 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 note of even date and this instrument are held by th!, Secretary of Housing and Urban Development, a monthly charge (in lieu of a mOrtgage insurance premium) which shall be in an amount equal to one-twelfth (1/I2) of one-half (1/2) per centum of the average outstanding balance due on the note computed without taking into account delinquencies or prepayments; (b) Asum equaJ 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 mortga~ed property, plus taxes and assessments next due on the mortgaged property (all as estimated by the Mortgagee) 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 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 the 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: (I) premium charges under the contracr of insurance with the Secretary of Housing and Urban Development, or monthly charge (in lieu of mortgage illSurance premium), as the case may be; (II) ground rents, taxes, assessments, fire and other hazard insurance premiums; (1lI) 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 oithe next sucb paymenl, constitute an event of default under this mortgage, The Mortgagee may collect a "late charge" not to exceed four cents (4~) for each dollar ($1) of each payment more than fifteen (15) days in arrears to cover the extra expense involved in handling delinquent payments, :l. That if the total of the paynwnts made by the \Iortgagor under rb) of paragraph 2 preceding shall exceed the amount of payments actually made by the \Jortgagee for l!rounrl rents. taxes and assessments or insurance pre- miums, as the case may be, such excess, if the loan IS current, at the option of the Mortgagor, shall be credited by the Mortgagee on subsequent payments to be made by th,' \Iortgagor. or refunded t<l the Mortgagor, If, however, the monthly payments made by the Mortgagor under (OJ of pamgraph 2 preceding shall not be sufficient to pay ground rent, taxes and assessments or inSUran(~H prpmiums. as the casp may be. \\hen the ~ame shall become due and pay- able, then the Mortgagor shall pay to the \Jortgagee any amount nece~~ary to make up the defieiency, on or before the date when payment of such ground rents, lax"s, assessments or insurance premiums shall be due, If at any time the Mortgagor shall tender to the \lortgagl'e, in aCI'ordance with the provisions of the note secured hereby, full payment of the entire indebtedness rep,esented thereby, the \lortgagee shall, in computing the amount of such indebtedness, credit to the account of the Mortgagor all payments made under rhe provisions of (a) of paragraph 2 hereof which the Mortgagee has not becoine obligated to pay to the ;",eretary of Housing "nd Urban Development and any balance remaining in the funds accumulated undt'r the provisions of (b) of paragraph 2 hereof. If there shall be a default under any of the provision~ of this mortgage resulting in a public sale nf the premises covered hereby, or if the Mortgaget' acquires thl' prop"'ty other"i,,' after default, the \lortgagee shall apply, at the time of the commencement of such proceedings. or at the time the property is otherwise acquired, the balance then remain- ing in the funds accumulated under {I,} of paragraph 2 preceding, as a credit against the amount of principal then remaining unpaid under said note. and shall properly adju~t any payments which shall b3\'e been mad" under (a) of plU'agraph 2. 4. That the Mortgagor will pay ground rents. ta.\e\, assrssments. water rates. and other governmental or municipal charges. fines, or impositions, for which provisi"n has not been made heteinbef"re, and in default thereof the Mortgagee may pay the same: and that the Mortgagor will promptly deliver the official receipts therefor to the Mortgagee. 5, The Mortgagor will pay all taxes which may he le\-ied upon the .Mortgagee's interest in said real estate and improve- ments, and which may be levied upon this mortgage or the debt secured herehy (bur only III the extent that such is not prohibit- ed by law and only to the extent that such wtll not make this loan usurious), but excluding any income tax, Srate or Federal. imposed on Mortgagee, and will file the official teceipt showing such payment "ith the Mortgagee. Upoo violation of this under- taking, or if the Mortgagor is prohibited hy any law now or hereafter existing from paying the whole or any portion of the afore- said taxes, or upon the rendering of any court decree prohihiting the payment hy the Mortgagor or any such taxes, or if such law or decree provides that any amount so paid hy the Mortgagor shall be s'redit..J ,)fi 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 be given, the ,.id debt shall become due, pay'ahle and collectible at the expiration of said ninety days, 6, That should he fail to pay any sum or keep any ,'ovenant prslVided for in this Mortgage, then the Mortgagee, at its op- tion, may payor perform the same, and all expenditures so made shall he added to the principal sum owing on the above note, shall be secured hereby, and shall hear imerest at the rate set f,>rth in the said note, until paid. 7. That he hereby assigns, uansfers and sets over to the Mortgagee, to be applied toward the payment of the note and all sums secured hereby in case of a default in the performance of any of the terms and conditions of this Mortgage or the said note, all the rents, revenues and income 10 he derived from the mortgaged premises during such time as the mortgage indebted- ness shall remain unpaid; and the Mortgagee shall have power to appoint any agent or agenls it may desire for the purpose of repairing said premises and of renting the same anli collet.::ting the rents. revenues and income. and it may payout of said in- co~es 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 toward lhe discharge of said mortgage indebtedness, 8. That he will keep the improvements now existing or hereafter erected on 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 amounts and for such periods as may be required by the Mortgagee and will pay promptly, when due, any premiums on such insur.ance--provision for payment of which has not been made hereinbefore. All insurance shall he carried in companies ap- proved by the Mortgagee and the policies and renewals thereof shall be held hy the Mortgagee and have anached thereto loss payable clauses in favor of and in form a,ceptable to the Mortgagee. In event of loss Mortgagor will give immediate notice by mail to the Mortg<lgee. who may make proof of loss if not made promptly by Mortgagor, and each insurance company con. ~cd is hereby authorized and directed to make payment for sllch loss directly to the Mortgagee instead of to the Mongagnr and theMOftgagte jointly. and lhe insurance pHlceeds, or any part thereof, may be applied by the Mort8'agee at its option either to the r~du(;tion of the indebtedncScs hereby secured or to the reslOration or repair nf the property damaged. In event of f(,lredo- sure of this mortpge or other transfer of title to the mortgaged property in extinguishment of the indehledness secured hereby, all right,-tnh! andinrerest of the Mon&allO' in and to any insurance policies then in force shall pass to the purchaser or grantee, 9, That as additional and "nllateral security for the payment of the note de,nibed, 'lOd all sums 1,1 hec,'me due under this mortgage. the Mmtgagor hereby assigns to the Mongagee all pr<lli~s.rev,e,!!I~fi.. n'>YlI\t!es, rights and benefits 'KS'Tuillg to the Mortga&Or under any and all ml and gas leases nnsald premISes, "'ttl) tM ti8~Il'O,'Cl:etve and re,'elpt for the slime and apply them tll said indebtedness as well before as after default in the conditi,lOs of this mortgage, and the Mortgagee mllY demund, sue for and ft'Ci..Wer any such VOlymenh when dut ant.! pa}'ubte. t'lut shan not 11c rcquir('d "'0 to do Thl$ assi8nmcnt i-:;; tll terminale and. be~ome null ~md VLI:Jd U(X.IO feleas.c ,...f thi;; mortpi.e. HUi),\l)l.aM 11l-79J