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I 83~ uJ4~'(O (1) month prior to its due date the annual mortgage insurance premium in o;c!er 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 the Secretary of Housing and Urban Development, a monthly charge (in lieu of a mongage 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) 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 pr"i'"rty, plus taxes and assessments next due on the mortgaged property (all as estimated by the Mortgagee) less all sums already paid therefor di,oded 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 aggregate amount thereof shaU 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 of mortgage insurance premium). as the case may be; (II) 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, constitute an event of default under this mortgage, The Mortgagee may collect a "late charge" not to exceed fOlir cents (4~) for each dollar ($1) of each payment more than fifteen (15) days in arrears to cover the extta expense involved in handling delinquent payments. ;3. That if the t<>tal of the payments made by the \Iortgagorunder (b) of paragraph t 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 Mortgagee on subsequent payments t<> be made by the Mortgagor, or refunded to the Mortgagor, If, however, the monthly payments made by the Mortgagor under (h) of paragraph 2 preceding shall not be sufficient to pay ground rent, taxes and assessments or insuranc(~ premiums. as the casE> may be. when the same shall become due and pay- able, then the \lortgagor shall pay to the Mortgagee any amount necessary 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 accordance with the provi~ions of the note secured hereby, full payment of the entire indebtedness repre~ented thereby, the \Iortgagt.e ~hall. 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 obi igated to pay to the Secretary of f1ou:;ing and Urban Development and an)' balance remaining in the funds accumulated under the provisions of (b) of paragraph 2 hereof. If there shall be a default under any of the provision~ of thi~ mortgage re~ulting in a puhlil' ~ale of the premises covt'red hereby, or if the Mortgagee acquires the property otherwise after default. the Mortgagee ~hall apply. at the time of the commencement of such proceedings, or at the time the property i~ otherwi~e acquired. the balance then remain- ing in the funds accumulated under (h) of paragraph t pteceding, as a nedit again~t the amount of principal then remaining unpaid under said note, and shall properly adjust any payments whit'h shall haw bet'n made under (al of paragraph 2, 4. That the Mortgagor will pay ground rents. taxes. assessments. water rates. and other governmental or munkipal charges. tines, or impositions. for which provision has nOl heen made hereinbefore. and in defauh 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 which may be levied upon the Mortgagee"s interest in said feal estate and improve- ments, and which may be levied upon this mortgage or the debt secured hereby (but only to the extent that ~.;uch is not prohibit- ed by law and only to the extent that such will not make this loan usurious), but excluding ,my income tax, State or Federal. imposed on Mortgagee, alld will file the official receipt showing such payment with the Morrgagee. Upon viulation of this under- taking, or if the Mortgagor 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 the payment by the Mortgagor or any such taxes. or if such law or decree provides that any amount so paid by the Mortgagor shall be credited on the mortgage debt, the Mortgagee shall have the right to give ninety days' written notice to the owner of the mortgaged premises. requiring the payment l)f the mortgage debt. If such notice be given. the said debt shall become due, payable and collectible at the expiration l)f said ninety days. 6. That should he fail to pay any sum or keep any coven ant 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 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 the 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. aU 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 have power to appoint 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 tJf said in- comes all e,xpenses of repairing said premises and necessary commissions and expenses incurred in renting <ind 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 by the Mortgagee against loss by fire and other hazards. casualties and contingencies in such amounts and fo(such periods as may be required by the Mortgagee and will pay promptly, when due, any premiums on such insurance_provisipn_for payment of which has not been made hereinbefore. All insurance sh~lll be carried in companies ap- proved by 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 to the Mortgagee. In event of loss Mortgagor will give immediate notice by mail to the Mortgagee, who may make proof of loss if not made promptly by Mortgagor, 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 Mortgagor and the Mortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by the Mortgagee at its option either to thereduct\on of tbeindebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclo- sutl'ofJhis mortgage or other ttansfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, ~1I riglJt, title andinterestof the Mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee. 9, Thatas additional and collateral security for the payment of tbe note described, and all sums to become due under this m\lrtgage. the Mortgagor bereby assigns to the Mortgagee all profits, revenues. royalties, rigbts and benefits accruing to the Mortgagorunderany and all oil and gas leases on said premises, with the right to receive and receipt for the same and apply them to said indebtedness as well before as after default in the conditions of this mortgage. and the Mortgagee may demand. sue for and-recover any such payments when due and payable. but shall not be required so to do. This assignment is to terminnte and become null and void upon release of this mortllajle. HUQ-.-92143M 19.79;