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(b) 83-+)02615 (l) month prior to its due date the annual mortgage insurance premium in order to provide such holder with funds to pay such premium 10 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 the 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 (1/12) of one-half (1/2) per centum of the average outstanding balance due on the 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 fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property (01/ 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 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: (c) (I) premium charges under the .:ontract of insurance with the Secretary of Housing and Urban Development, or monthly charge (in lieu of mortgage insurance {1remium). as the case may be; (II) ground rents, taxes, assessments, tire 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 paymelll shall, unless made good by the Mort- gagor prior to the due date of the next such payment. 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 (! 5) days in arrears to cover the extra expense involved in handling delinquent payments, 3, That if the total of thl' payments madp by thp \lortgagor undpr 1/,1 of paragraph 2 prel'pding shall pxeeed the amount of payments aetually made by thp Mortgagep for ground rents. taxes and assessment,S or insuranee pre- miums, as the ease may be, sueh excess, if the loan is curren!, al the oprion of (he Mortgagor, shall be credited by the 'iortgagee on subsequent payments 10 b.. made by Ihl' \Iortgagor. or refunded 10 the Mortgagor_ If. however, the monthl ypayments made by the Mortgagor "oder (b) of paragraph 2 preceding shall not be sufficient to pay ground rent, taxes and assHssmento or in.suranee premium~. as the ea5{lo may be. when the same ~hall become due and pay- able, then the 'Iortgagor shall pay to the Mortgagl't' any amount neel'ssary to make up the deCidency, on or before the date when payment of sueh ground rents, taxI'S, aSSl'ssmpnts or insuranee premiums shall be due. If at any time the Mortgagor shall lender to thl' \lortgagee. in ,",eordanel' with the provIsions of the note set'ured hereby. full payment of the entire indebtednl'ss represented then'by, thl' 'Iortgagl'l' shall. in eomputing the amount of such indebtedness, credit to the account of (he Mortgagor all payments made under the provisions of (a) of paragraph 2 hpreof which the 'iortgagee has nol beeonw obi igatl'd to pay to the ~erctary of !lousing and Urban Development and any balanee remaining in the funds at,<,umulaled undl'r thp provisions of (I,) of paragraph 2 hereof. If there shall be a default undtlf any of thl' provisions of thi" mortgag" fl.sulling in a public "Ip of the premi"es eovered hereby, or if the \Iortgagee ac~uil'Ps till' pmp"'t) otherwisl' aftl'r default. the \Iortgagee shall apply, at Ihl' tin", of the commencement of such proceedings, or at thl' tim.' th,' property is oth",wis.. ,,,'~uired, the balance then remain- ing in the funds aceumulated under (h) of paragraph ~ ptl','eding, as a ",..dit against Ihl' amount of principal then remaining unpaid under said note, and shall proPl'rI) ,(djust an) paym..nts whit,h shall have been madl' under I a) of paragraph 2, 4. That the Mortgagor will puy gmund rt'fHS. taxes. a~seSSfl1ents, watel" fOlIes. and nther governmental or municipal charges, fines, or imposilions, for which provision has not beeu made hereinbefore, and in default thereof the Mortgagee may pay the same; and thaI the Mortgagor will promptly deliver Ihe official receipts therefor to the Mortgagee. 5. The Mortgagor will pay "i1I"xes which may be levied upon the Mo,tgagees interest in said real e,tate and improw, ments, and which may be levied upon this mOflgage or the debl secured hereby tbut only to the extent thai such is not prohibit- ed by law and only to the extent that ....uch will not make thiS loan usuriousl. hut t"xduding any income tax. Srate or Federal, imposed on Mortgagee, and will file the official rec,'ipt showing such pilyment with the Mortgagee. Upon \'ioliltion qf this under- taking, or if the Mortgagor is prohibired by an) law now or hereafter e"i~ting: rrl\1l1 paying the whule or Hny pnnlun of the afore- said taxes, or upon the rendering of any court decree prohibiting the pilyment \1y the Mortgagor or i1ny such taxe" 01' if such law or decree provides Ihat any amount so pilid \11' the Mortgagor ,hall \1e credited on the murtgage debt. the Mortgilgee ,hilll have Ihe right to give ninety days written nOlice to the owner of Ihe mortgaged premises, requiring lhe payment of the mortgage debt. If such notice be given. the said debl shall !>ecome due, payable and collectible at the cxpirationof said ninety days. 6. ThaI should he filii to pay any sum or keep any covenant provided for in this Mortgage, then the Mortgagee, at its op- tion, may payor perform the sante, and all expenditures so made shall be added to the principal sum owing on the i1bove note. shall be secured hereby, and shall bear interest "t Ihe rale set forth in the said note. ulllil paid. 7. That he hereby assigns, transfers and set' over to the Mongagee, to be applied toward the payment of the note and all sums secured hereby in case of a default in (he performance of any of Ihe 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 lime as thc mongage indebted- ness shall remain unpaid; and the Mortgagee shilll have power to appoim any agent or agents it may desire for the purpose "I' repairing said premises and of renting the same and collecting the rents. revenues and inl2ome. and it may payout of .said in- comes aU expenses of repairing said premises and necessary commis.sions and expenses incurred in renting and managing the same and of collecting remals therefrom; the balance remaining, if any. to be applied IowaI'd the discharge of said nwrtgilgc indebtedness. 8, That be will keep Ihe improvements now cxisting or hereafter erected on the mortgilged propen;. insured 'IS may be required from time to time by the Mortgagee against loss by fire and other hazards, casualties ilnd conlingencies in such 31l1ounls and for su~h periods as may !>e required by the Mortgagee and will pay promptly. when duc, any premium, on such insurance provisioll for payment of which has not been made hereinbefore. All insurance shillll>e carried in c,)mpaOles ap. proved by the Mortgagee and lhe policies and renewals thereof shall !>e held \1y the Mortgagee i1nd have altached Ihereto loss payable clauses in favor of alld in form acceptable to the Mortgagee. In event of loss Mortgagor will give immediate nOlice by mail 10 the MOrtga\lee, who may mak.. proof of loss if not made promptly by Mortgagor, and "i1eh insurance company ,'<)f', cerned is hereby authorized and directed to make payment for such loss directly 10 the Mortgagee instead or to the ytortgag(1r and lh<i. M>>rtllagee jointly .andlhe insurance proceeds, tlr any part thereof. may !>e applied by the Mortgagee at its optwn either toth~ reducti!)tio! theindebledness hereb, secured or to Ihe restoration or repRir of the property damaged. In e,ent of forcck'. .ure .o( tN. mort~enr othertransfer of tille t{l the mortgaged property in extinguishmt'nl of the indebtedne" sed' red here\1y, all right,'litle andlntere$.l of the Mortgagor in and to ilny insumnce policie, then in force shall pa" to Ihe pur,'h'lSer (1r grantee. 9. Thlrtas addition,,) and collatetal security' for the payment of the note described, and all sum, (I' bcc,,,,,e due under thi, llt!lTti'lP,llJe Mortgagor hereby .ssignno l!>e Ml>ttg.1gee aU profits, revenues. ""alties, rights and bcnefit> a,'Tuing '" Ihc Mort8'!jlOt un~r any artdall oil and gas leases on said premises, with the right to receiw ano I'<','e'pl for Ihe same and appl, them. to -s.aid-indebtedne$s ~s wen before asafter default in the condition;>; ()( rhh ol\.:lftgage. and the Morrgllgce may tlt'mand. .,ue for amlre-cover any such pB_ymenh: whe-n du-c .tlnd (ui)',able+ burshaU not he reqUired "fi to do, Thi, ;J\signmcnt j, III tcrrllln;-jf(' Mil become null and void UlWn release of lhis mOfl~alle. HUCj.~1214.\M ';.) 79)