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I 83-o017C4 (I ) 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 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 equalto one-twelfth (1/12) of o,u,.half (I/2) 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 next due on. the mortgaged property (all as esrjmated.by rhe Martgagee) 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'aggngate 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 contract of insurance with the Secretary of Housing and Urban Development, or monthly charge (in lieu "f mortgage insurance premium), as UlC case may be; (II) 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 deficiency in the amount of any such aggregate monthiy payment shall, unless made good by the Mort- gagor prior to the due date of the next such paymellt, constitute an event of default under this mortgage, The Mortgagee may collect a "late charge" not to exceed fOllr cents (4Jl) for each dollar ($1) of each payment more than fifteen (15) days in arrears to cover the extra expense involved in handling delinquent payments. 3, That if the total of the payments made by the \10rtgago, under (bl of paragraph 2 preceding shall exceed the amount of payments actually made by the Mortgagee for ~round 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 \lortgilgee on subsequent payments to be made by the Mortgagor. ur refunded t<> the Mortgagor, If, however, the monthly payments made by the Mortgagor under (b) of paragraph 2 preceding shall not be sufficient to pay ground rent, taxes and assessments or insurance premiums. as the <'liSe may be, when the same shall become due and pay- able, then the Mortgagor shall pay to the Mortgagee any amount nel'essary 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 to the Mortgagee, in accordan<,e with the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby, the \lortgagee shall, in computing the amount of such indebtedness, credit to the accoun! of th~ Mortgagor all payments made uoder the provisions of (aJ of paragraph 2 hereof which the Mortgagee has not become obligated to pay to the ~cretary of Housing ..nd Urban, Development and any balance remaining in the funds accumulated under the provisions of (b) of paragraph 2 hereof. If there shall be a default under any of thll provisions of this mortgage resulting in a public sale of the premises covered hereby, or if the Mortgagee acquires the property otherwise after default, the Mortgagee shall apply, at the time of the commencement of such proceedings, or at the time the propeny is otherwisll acquired, the balance then remain- ing in the funds accumulated under (b) of paragraph;) preeeding. as a ('redit against the amount of principal then remaining unpaid under said note, and shall properly adju>,t any payments which shall have been made under (a) of paragraph 2, 4. That the Mortgagor wiIJ pay ground rents. taxes. assessments. water rates. and other governmental or municipal charges, fines, or impositions, for which proVISion has not been made hereinbefore, and in default thereof the Mortgagee may pay the same; and that the Mortgagor will promptly deliver Ihe official receipts Iherefor to the Mortgagee. S, The Mortgagor will pay alllaxes which may be levied upon the Mortgagee', interest in said real estate and improve- ments. and which may be levied upon this mortgage or the debt secured hereby tbut 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 excluding any income tax, State or FedHal, imposed on Mortgagee, and will file the official receipt showing such payment with the Mortgagee, Upon violation of this under- taking, or if the Mongagor is prohibited by 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 prohibiting Ihe payment by the Mortgagor or any such taxes, or if such law or decree provides Ihat any amount so paid by the Mortgagor shall be credited on Ihe mortgage debt, the Mortgagee shall have the right to give ninety days' wrillen notice to the owner of the mortgaged premises, requiring the payment of the mortgage debt, If such notice be given, the said debt shall bec"me due, payable and collectible al the expiration of said ninety days, 6, That should he fail to pay any sum or keep any covenant provided for in this Mortgage, then the Mortgagee. at its op- tion, may payor perform the same, al>d all expenditures so made shall be added to the principal sum owing on the above nOle, shall be secured hereby, and shall bear interest at the rate set forth in the said note, until paid. 7, That he hereby assigns, transfers and sets over to tbe 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 to be derived from the mortgaged premises during such time as the mortgage indebted- ness shall remain unpaid; and the Mortgagee shall!'>ave power to appoinl any agent or agents it may desire for the purpose of repairing said premises and of renting the same and collecting the rents, revenues and income, and it may payout of said in- comes all expenses of repairing said premises and necessary commissions and expenses incurred in renling and managing the sanie and'of collecting rentals tberefrom; the balance remaining. if any, to be applied toward the discharge of said mortgage indebtedness, It That he will keep the improvements now existing or bereafter 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 anJ for suchperiods as may be required by the Mortgagee and will pal' promptly, when due, any premiums on such insuri\nee'provision for payment o(which has not been made hereinbefore. AI! insurance shall be carried in companies ap, proveilby the Mortgagee and the policies and renewals thereof shall be held by the Mortgagee and have attached thereto loss payable clauses in favor of and in form acceptable 10 the Mortgagee, In event of loss Mortgagor will give immediate notice by mail to, tM. Mort!l"8ee, who may make proof of loss if not made promptly by Mortgagor, and each insurance company con- ~'et1\eiHs hereby authorized and directed to make payment for such loss direclly to the Mortgagee instead of to the Mortgl\ll(jr al\cl-lIieMllrtgagee jointly, and lhe insurance proceeds, or any part thereof, may be applied by the Mortgagee at its option either to the.'eduction of the illdebtedness hereby secured or to Ihe resloration or repair of the property damaged. In event of foreclo- sllre;l:if lh!~ mort~ or ot~r transfer of title to the mortgaged propefly in extinguishment of the indebtedness secnred hereby. .alt ript,'!itkandhlterest ohlie Mortgagor in and to any lOsllrance policies then in force shall pass 10 the pu",haser or grantee. 9, That as additional and collateral security' for the payment of the note described, and all sums to become due under this mortgage, the Mortgagor herehy a..igns to the Mortgag\lF allpwJits"tevenues, royalties. righlS and benet;ts accruing to the Mo~r under any and all oil and gas leases on said premises, "'im thq right to receive and receipt for the 'ame and apply them to said indebledness as well before as after default in the conditions of this mortgage, and the Mortgagee mal' demand, sue fOf and rCCOyct any such payments when due HuLl payable. hut shall not be requjr~d ~o to lh, This. assignmenf i~ to termwate and become null and void upon release ~f this mort~, HIJO-e.143M (9,791