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83~04414 (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 ( :t (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; (b) Asum 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)ies:; 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 10 pay said ground rents, pre. miums, taxes and special assessmen ts; 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 contract of insurance with the Secretary of Housing and Urban Development, or monthly charge (in lieu a/mortgage insurance premium!. as the case may be: (11) ground rents, taxes, assessments, tire 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 month Iv payment shail, unless made good by the Mort, gagor prior to the due date of the next such payment, c<",stitute an event oj default under this mortgage. The Mortgagee may collect a "late charge" not to excced lour cents (41<') for cach dollar (Sl) of each payment more than fifteen (15) days iD arrears to cover the extra expense involved in handling delinquent payments. 3, That if the wtal of the payment,. made by thp 'Iortgagw undpr ! I,! of paragraph 2 pr<'epding shall eXl'epd t.he amount of payment.,. actually made by the \lortgagep for l[tOund rents, taxl''' and asses,.ml'nt.s or in,.uranel' pre- miums, as the case may be, such excess. if the loan is currem. at the option of <he Mortgagor, shall he credited b~ t.he \lortgagee on sub,.equellt payment,. to bl' madl' bv the \Iortgagor. or refunded to the 'lortgagor, If, howl'ver. the monthly payments made by the Mortgagor under (hi of paragraph 2 preceding shall nor be sufficient to pay ground reni.~ taxes and assessments or insurane(~ premium~. ai-:; the t::t..'..;e may bt.l, \\ hpn tht, ~ame ~hall become due and pay- able. then the \Iortgagor shall pay to the 'longagpp any amount nt','p~sary to makl' up tlll' d"ficipnev, on or bpforp the date \vhen payment of su(~h ground rent.t:, taxes. a...-,;se~sment~ or insuranf.:p prpmium~ shall lw due.. If at any time the \lortga~or ,.hall t<'nder to the 'Iortgagee, in ae,'ordanl'" "ith the pro\ision~ of lhp note s('eurl'd hprl'bv, full payment of the entire indebtedness representpd th!>reb~', thp 'Iortgage!' shall. in "IImputing the amount of ~lIl'h indebtedness, credit to the account of the Mortjlajlor all payments made under the provtstons of ! u.' of paragraph 2 hereof which the \lort/!age(, has not bel'omp obli/!ated to pay to the :-P(Tetary of Ilousing ~nd ['rban Development and any balance remaining in the funds aeeum\,llated under till' pf(J\i"ion~ of ! nf para)!raph 2 hprpoL If thl'r.. ,.hall be a deCault und!>r any of the provisions ofthi.~ mortgag" r..sultiol! in a publie "al.. of the prpmi""" eovprpd hereby, or iC the Mortgagee acquires the propert~~therwi:;p after dpfault, lhp 'lortgage,' shall apply. alth" time of the eommen('ement of such proeeeding~, or at the tim.. the prop..rtv i" othprwi"e acquired, th.. balann' thpn rl'main, ing in the Cunds accumulated under (') of paragral,h :! pre,'pdinl!, a~ a <'It'dit again"( till' amount ,,1' pl'inl'ipal th..n remaining unpaid und..1' said note, and ,.halj propl'r1~ adjust an~ pa~mt'nt" "hieh "hall I",,,, Iwen madl' und..r Id oC paragraph:!, 4. That the Mortgagor will P;'ty grlmnd rem~, la\e~. <lss~s~mellb. \\alr.;;f rate:--. and lHher govc::rnmental t)f municipal charges. fines. or impositions. for v.'hich prl)\'t~ion ha:'l not bc-tfl made hereinhef\lre. and In default therellf tht' Mortgagee lTIay pay the same; and that the Mortgag"-lf \Viii promptiy deliver the Otti(:i~l! rel..'Clph lherefll[ [t) the ~h)rtgagee. 5. The Mortgagor will pay all taxc:-. which may be k...led upun the Mortgagee', interest in said real et-olate and impr\..lve- ments. antJ which may be levied upon this mortgage \,)T the debt ~e(Hred hereby Ir.ut tJnJ~- to the c\tent that :'llh.:h is nol prohihit- ed by law and only ltJ the exteOl that ~uch will not ma"'-e lhis. loan u~uriou:o.L Put t'\I..~luding any inl.'ome la\. State or fC'd~ral. imposed on Mortgagee. 3nd will file the oUlclal rel..'l.'ipt ~hl)wing "'Ul,:h r~t} ment y,. ith the ;\longagee. L'pon \ iolatilm llf this under~ taking, or if [he Mortgagor is prohibited ny an~ lay, no\\- or hereafter ~\i"'ling (rom paying [he \\-hole or any pllnilHlllf the afore~ said taxes. or upon the rendering of any i.,.'l)Urt uecret: prohihiting the- pa~ mem ny the MougaglJr uf any :,\ul".-h la\c..., l.lf if Slh:h la\\ or decree provides that any amouOl ", paid hv the Mortgagm ,hall he ,redlted on the n1l}rtgage deht. the Mortgagee shall have the right to give ninety days' written notice h.l the \J\\ner \.\f the mortgage-J premises. requiring the payment of the mortgage debt. If such notice be given, the said debt shall bec<,me due, payable and collectihle al the expiration of said ninety days. 6. That should he Caillt> pay an) sum or keep any covenant prm ided [or in this Mortgage, then the Mmtgagee, at ils op' tion. may payor perCorm the same, and all expenditures so made shall he added to the principal ,um owing onlhe ahove 0,1Ie, shall be secured hereby, and shall bear interest at the rate set forth in the said nOle, uOlil paid. 7, That he hereby assigns. transfers and sets over to the ~lortgagee, to be applied IOward lhe payment of the Ihlte and all sums secured hereby in case oC a deCault in the perCormance e,f any of the terms and ,,,nditions of this Mortgage vr the said note~ tin the rents, revenues and income to ne derived from th~ mortgaged premises during juch time a~ the mongage indehted- ness shall remain unpaid; and [he Mortgagee shaH ha''ot~ po\\cr to app~Jint any agent or agenb it may desire for the pUrpll\C~.1f repairing said premises and of renting the ~ame- and collecting the rents. revenues and income. and it may P~IY ...mt of saiJ in- comes all expenses of repairing said premise~ and ne":cssary commis:sions and expcn~e\ in~urred in renting anJ managing the same; and of collecting rentals therefrom; the balance remaining, if any, to be applied loward the discharge "I' said mortgagc indebte;dness, 8, That he will keep the improvements now existing or hereafter erened on the llIortgaged property, insured as may he required from time to time by the Mortgagee against loss by fire and other halarus. casualties and contingenCies in such amounts and for such periods as may be required by the Mortgagee and" ill pay promptl" "hen due, any premiums <'ll ",ch insurance provision for payment of which has not been made hereinbefore. All in,ur'Hlce shall be carried in ClIll1p.lllies ap proved by the Mortgagee and the policies and renewals thereof shall be held by the Mortgagee and h,nc alt,,,,hed therel,' h", payable clauses in favor oC and in form acceptable I<> the M<>rtgagee, In event of loss ~lortjlage)f "ili give immediate noti,'e hI mail to the MQftgagee, who may make prod of loss if not made promptly by Mortgagor. and each insurance company COil. cerned is hereby authorized and directed to make payment Cor such loss directly to the M<>rtgagee instead oC 1<' the Mongag<" and the Mortgallee jointly, and the insurance pwceeds. <>r any part thereoL may be applied hy the Mortgagee at lts ,'ption either to the reduction of the indebtedness hereby secured or to the restorati<>n or repair <>C the pfllpetly damaged. In event <,f f<'l'ed,) sure <>f this mortgage <>r other transfer of title to the mortgaged property in extinguishment "f the indebtedness ,ccured hereh,. . all right, title and interest oC the Mortgagor in and to any insurance policies then in force shall paS' 10 the purcha,er or grant,," 9, That as additional and collateral ,e,urity for the payment oC the nOle descrihed, and all SUIll> {" bec<'flle due undet thi, mortgage. the Mortll"gor hereby as,igns I<> the M<>rtgagee all profits, revenue,. wyallies. rights and hend'l> "c,Tuing t" rhe Mortgagor under any and all oil and gas leases on said premises, with the right to rtceive and rece'pt I'm the same and a>,pll them to said indebtedness as well before as after dehwll in the conditions of this mortgage. and the Mortgagee ma, d,'mand. '110 for and recover any such payment,- when due ;:\nd pa)'able. but shaH not he required ,-,p to {}t1, This ;l'iSlgnmenT i.... 10 termin;tlt' !.lnd beeome null and void upon relea,e of this mortRaile. H\)O 9:.?1 '1.11\-1 In. :.'!j;