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f~3~003617 (II) ( f) fnonth prior to iIS due date the annual m()rtgage insurance prernium in order tt") provide su~h holder ",ith funds to pay such premium to the Secretary of Housing :ina (;rban Development pursuant tel the National Housing Act. as amended. and applicable Regulations thereunder: or (b) 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 fin lieu of i1 mortgage insurance premium) which shall be in an amount equal to one-twelfth (l II 2) of one-half (l i2) 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, jf 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) Jess 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 paymen t to be applied by the Mortgagee to the following items in the order set forth: (c) (I) premium charges under the contract of insurance with the Secretary of Housing and Urban Development. or monthly charge (ill lieu o/' mortgage insurance premium). as the case may be: (II) ground rents. taxes, assessments, fire and other hazard insurance premiums; (m) interest on the note secured hereby; and (IV) amortization of the principal of sa:id note. Any defiCiency in the amount of any such aggregate monthly payment shaJI, unless made good by the M6rt- gagor prior to the due date of the next such payment, c,mstilute an even!. of default under this mortgagee The Mortgagee may coHect a "late charge" not to exceed f'lIa cents (4;t) for each dollar ($1) of each payment more than fifteen (5) days in arrears to cover the extra expense involved in handling delinquent payments. ;L That if the total of the payments made by tll(' Mortgagor under (h) of paragraph 2 preceding shall exceed the amount of payments actually made by the Mortgagee for around rents, taxes and assessments or insurance pre- miums, .1-" the case may be, such excess, if the loan I.S current. at the option of the :\Iortgagor, shaJj be credited b) the Mortgagee on suhse(ltHmt payment.s t.o b(~ made by the Mortgagor. or refunded to the Mortgagor. If, however, the monthly payments made by the Mortgagor under (D) of paragraph:: precedingshali not be sufficient to pay ground rent, taxes and assessments or insurance premiums. as tJj(~ case may be, when the same "hall becol1lP due and pay- able. then the Mortgagor shall pay to the \lortgagl'e any amount neeessaryw make up the dend(lney, on or before the daw when payment of ,.,u(:h ground rents. taxes, as"e..,sments or in::;urance pwmiums shall be due. If at any time the Mortgagor shall tendO[ t.o Ihe \lortgagee. in an'ordanee with the provisions of th(~ not(~ ::;ecured hemby, full payment of the entire indebt(~dness fl'pwsentnd thereby, Ow \!ol'tgage(~ ",hall. in computing the amount of such indebtedness. cr(~dit to (he account of (he Mortgagor all payments made under the provisions of (a) of paragraph :2 hereof which the Mortgagee has not become obligated to pay 10 t.he ~e(,fNary of Housing and Urban Development and any balance rr.maining in the fund" accumulated under the provisions of (h) of paragraph 2 hereof, If tlwl'e shall be a default. under any of thp fJl.o\'i....inn'" of thiS mongage r('sulling in a public "ale of tJle premise.., cnv(~I'Nl hereby, or if the Mortgager' acquire", the propertynl,!lerwise aftpl' default, t./H'Mortgagnr.> shall apply., .lL the time of the commencem<ent of such proceedings. 01' al th(! time thp pro!}{!fty i.... oth(\rwi."i(' aCfluired, the balalH:e th(>n r('main- ing in th,' funds aceumulatpd under (h) of pamgraph :2 prN'(.lding, a:o' a credit again:;t the amount of prindpal then remaining unpaid undN said note, and shall properly adju,.;! any payment..'.; whidl shallltaw bpen made under la.l of paragraph ~. 4. That the Mortgagor will pay ground rents. laxes. assessments, wa(er rates. and uther 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 Morrgagor will promptly deliver the official receipts therefor to the Morrgagee. ). The Mortgagor wiil pay all taxes which may be levied upon the Mortgagee's interest in said real eSlate and improve- ments, and which may be levied upon this nwrtgage or the debt secured hereby (but only to (he extent that su\.,h is not prohibit- ed by law and only to the extent that such will not make this loan usurious). PUl excluding any income tax, Swte or FederaL imposed on Morrgagee, and will file the official receipt showing such payment with the Mortgagee. Upon violation of this under- taking, or if the Mortgagor is prohibited by any law now ()f hereafter e.xisting from paying the whole ('r any ponioll of the afore- said taxes. or upon the rendering of any c:ourt decree prohibiting the paymcl1l by the Mortgagor or any such taxes. or if such law or decree provides that any amount so paid by the Mortgagor shall bc credited on the mortgage debt. lhe Mortgagee shall have the right to give ninety day,' written notice to the owner of the mortgaged premises. requiring the payment of the mortgage debt. If such notice be given, the said debt shall become due, payable and collectible at 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, and all expenditures so made shall be added to the principal sum OWll1g on the ahove note, shall be secured hereby. and shall bear interest al the rate set forth in the said note, until paid. 7. That he hereby assigns, transfers and sets over to the Mortgagee. to be applied (Oward 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 (he rems, revenues and income to be derived from the mortgaged premises during such time as the mortgage indebted- nessshaH remain unpaid; and the Mongagee shall have power to appoint any agent or agents il may desire for the purpose of repairing said pre.mises and l.~f renting the same and coilecting 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 renting and managing the same and of collecting rentais 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 .tbe mortgaged property. insured as may be requited from time; to time by the Mortgagee against loss by fire and other haz.ards. casualties and contingencies in such amonll,ts and forsuchperiods.as may be .requil'edby the Mortgagee and will pay prompl1y. when due, any premiums on such insuram;eprovisionfor paymentof which has not been made hereinbefore. All insurance shall be carried in co.rnpanies ap. proved by the Mortgagee and the policies and renewals (hereof shaB be held by the Mortgagee and have attached thereto loss payabledausesiniavor of andinfmm acceptable to the Mortgagee. In event of loss Mortgagor will give immediate notice by m;>il)otbe MGf~gagee, who may make proof of loss if not made promptly by Mortgagor, lmd each insurance company COll- ce!ne~js .herel:wauthorized and. directed to make paymen( for such loss directly 101he. Mortgilge" instead .of to the l'Vlorl:gagtH .. y, and the insurance proceeds, or any pan thereof, may be applied by the Mortgagee;l( its option either to tile red . .... ... . .. reby Secured uno the restorationorrepair of I.he property damaged. In even! offoreclo- sure 01 this morl.gage or other transfer of title to the mortgaged property in extinguishment of the indebtedness st~cU!ed. hereby. . all right. title and interest of the Mortgagor in and to any insurance policies then in for,:e shall pass to the purchaser or grantee. (( That asaiJditiona.l and collateral security lor the paymenl of l.he note described. and all sum, to become dUe under this mortgage, the M(~r~gagor hereby assign.slO the Mortgagee an profits, revenues. royalties, rights and benefits accruing 1(1 the er,a!:ly and 1111 oil and gas leases on said premises. with the right to receive and re('cip~ fllr the satne ;md ;lppfy indel:Hedness as well before as after default in the l.~ol1ditions of this mortg:lge. and (be rvh)rtgag(~c may dem,Hld. slle for and recover any such payments when due and payable, but ShaJlllotbe reqUired S(I 1<) do This assignment j, i,' \aminat~' and become null and void upon release of this lTwrtli\ailc. HUCHJ214JM t9 19)