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~3--001g0,-:" (l) 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 ofa mortgage insurance premium) which shall be in an amount equal to one-twelfth (I/l2) 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) 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 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 be~ome 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: (1) premium charges under the contract of insuran~e with the Secretary of Housing and Drban Development, or monthly charge (in lieu of mortgage insurance premium). as the case may be; (1I) 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. cullstirute an event of default under this mortgage, The Mortgagee may collect a "late charge" not to exceed four cent> (4~) for each dollar ($1) of each payment more than fifteen (I 5) days in arrears to cover the extra expense involved in handling delinquent payments, :" That if the total of the payments madp by tll(' \Iortgagor und", I h) of paragraph 2 precpdlng shall exceed the amount of payments actually made hy the Mortgagep for ~round rents, taxes and assessments or insurance pre- miums, as the casp may be, such excess, if the loan is current, at the 01'11011 of the Mortgagor, shall be credited by the Mortgagee on subsequpnt payments to bp madp by the 'Iortgagor, or refunded to the Mortgagor, If, however, the Monthly payments made by the Mortgagor under (1)) of paragraph 2 preceding shall not be sufficient to pay ground rent, taxes and assessments or insurance pr{l'mium~. a~ the t.i.~(~ may bp. \\-hen the same shall become due and pay- able, then the Mortgagor shall pay to the Mortga!!"., any amount nN'p~~ary to makl' 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 accordann' with the provisions of the note secured hereby, full payment of the entire indebtednpss represented theN!by, thp \lortgagep shall. in computing the amount of such indebtedness, credit to the account of the Mortgagor all payments made under the provisions of (a) of paragraph 2 hereof which the MOrtgagee has not become obligated to pay to tht' t>ecretary of Housing .md 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 undpr ""y of thp provisions of this mort!!age "'suiting in a public sale of thp premisps covered hereby, or if thp Mo'tgagee acquires thp propNty othprwisp afwr d"fault, thp "ortgagep shall apply, at thp time of the commencement of such proceedings, or at the timt' Ihe propprty is othemist' acquired, the balance then remain- ing in the funds accumulatpd under (bJ of paragraph 2 pr"cpdin!!, as a ('fedit against thp amounl of principal then remaining unpaid undN said note, and shall prop"rl\ adju"'t aO\ paympnts which ",hall have been made under (aJ of paragraph 2, 4. That the Mortgagor will pay ground rents_ taxes, assessment~. 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 the official receipts therefor to the Mortgagee. 5. The Mortgagor will pay all taxes "Chich may he levied upon the Mortgagee's interest in said real estate and improve- ments. and which milY be levied upon this mortgage or the debt secured hereby (but only to the extent thai such is not prohibit- ed by law and only to the extent that sucb will not make this loan usurious!. but excluding any income tax, State or Federal. imposed on Mortgagee, and wiIJ file the official receipt showing such payment with the Mortgagee. Upon violation of this under- taking, or if the MOflgagor is prohibited by any law now or hereafter existing from paying the whole or any portion of the afor.;- said taxes, or upon the rendering of any court decree prohibiting the payment by the Mortgagor Of any such taxes, or if such law or decree provides that any amount so paid by the Mortgagor shall be _-redited on the mortgage debt, the Mortgagee shall have the right to give ninety days' wriHen notice to the owner of the mOrlgaged premises. requiring the payment of the mortgage debt. If such notice be given, the said debt shall become due, payable and c<'lIeeti!>le at the expiration of said ninety days. 6. That should he fail to pay any sum or keep any covenant provided fM in this Mortgage, then the Mortgagee, at its 01" tion, may payor perform the same, and all expenditures so made shall be added to the principal sum owing on the above note, 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 pr~mises during such time as the mortgage indebted~ ness shall remain unpaid: and the Mortgagee shall have power to appoinl any agent or agents it may desire for the purpose of repairing said premises and of renting the same and collecting (he rents. revenue~ and income. and it may payout of said in- comes an 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 the 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 !>y the Mortgagee against loss by fire and other hazards, casualties and contingencies in such amounts and for such periods as may be required by Ihe Mortgagee and will pay promptly. when due, any premiums on such insurance provision for payment of which has not been made hereinbefore. All insurance shall be carried in companies ap- proved by the Mortgagee and the policies and renewals thereof shall!>e held by the Mortgagee and have attached thereto loss payable clauses in favor of and in form accept~lhle to the Mortgagee. In event of loss Mortgagor will give immediate notice by mail [0 the Mortgagee. \\'00 may make prooi oi ioss if not m~tde promptiy hy Mongagor. and each insurance company con- cerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead of to the Morlgagor and the Mortgagee joinlly, and the insurance pl<,ceeds, or any part thereof. may he applied!>y the Mortgagee at ils option either to the reduction of the indebtedness hereby secured or to the resloration or repair of Ihe property damaged, In evenl of foreclo- sure of this mortgage or other Iransfer of tille to the mortgaged property in eXlinguishmenl of the indebtedness secured hereby, all right.~:tiUe and intere-st oethe Mortgagor in and to any insurance policies then in fl)fCe shall pas~ to the purchaser ~lr grantee. . 9. That as additional ano collateral s~curity for the payment of the note de1\cribed. ilOd alt sum~ tll hecomc due under this mortgage. the Mortgagor herehy .l.l:-.signs to the MOrlgagee aU Pf.Qtits, revenues, royalhe~, rights and henetlh ,u:\,:ruing to the Mortgagor under any' and all \)il and gns leases on said premi~. withi:tbe tight to receive .100 receipt hlf the '''"lime and apply them to said indebredness a"l welf before as ilftt'f dcf.ault in the conditions of this mortgage, and the [\..1ortgagee may dem~,"d, sue f()f and recover any ~uch paymeoh when due ..\Od payahle, but shan "lIt be reqUIred :-.0 to do This as<;,;ignmcnf j<;,; to terminate and become null anti void upon relea~ nf this Ilh1rtga,&-c, HUD.;l2143M ;9-791