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(,month prior to its due date the annual mortgage insurance premium in order to provide such balder 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 (If} if and so long as said note of even date and this instrument arc held by the Secretary of Housing and Urban Development, a monthly charge (in lieu of a martgage insurance premium) which shall be in an amount equal to one-twelfth (l/12) of one-half (I/2} per centum of the average outstanding balance due an the note computed without caking into accvunt delinquencies or prepayments; (b) A sum equal [r~ the ground rents, if any, next due, plus the uremiums that wIli next became due and payable on palidzs of itre and other hazard insurance covering the mortgaged property, plus taxes and assessments next due an the mortgaged property jolt as estimated hp the MurtgageeJ less ail sums already paid therefor divided by the number of months to elapse before one month privr 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- ntiutrs, taxes and special assessments; and (c) All payrents mentioned in the two preceding subsections of this paragraph and all payments to be made under the note secured hereby shall be added tocether, and the aggregate amount thereof shall be paid by she 141arcgagor each month in a single payment rer be applieC by the Mortgagee to the col!owing items in the order set forth: il) premium charges under the contract of insurance with the Secretary of Housing and Uroan Development, ar monthly charge (in lic~t< uj'mortgage brs:rrance premium), as the case may he; (II) ground rents, taxes, assessments, iir and other hazard insurance premiums; (III} interest an the note secured iterebv: and (fV) amortization of the principal of said note. Any defciency in the amount irf any such aggregate monthly payment shall, unless made gaol by the M©rt- gagor prior to the due date of the next such payment, constitute an event of defauit under this mortgage. The Mortgagee may collect a "late charge" not to exceed ti+cr cents (4y} for each dollar (51) of each payment more than fifteen (15}days in areas to cover the extra expense involved in handling delinquent payments. 3. 'that if the total of the payments made by the tiiortgagar under ib! of paragraph ?preceding shall exceed the amount of payments actual)}' made by the Mortgagee for ground rent=, taxes and assessments or insurance pre- miume, as the case may be, such excess, if the Loan is current, at the option of the i4lortgagor, shalt be credited by the liorigagoe an subsequent payments to be made by the Mortgagor, or refunded to the Mortgagor. If, however, the ~nanthly payments made by the Jortgagor under jb) of paragraph 2 preceding shall not !x sufficient to pay ground rent, taxes and assessments or insurance premiums, as the case may be, whan the same shall became due and pay- able, than the 'Hortgagar shalt pap to the Mortgagee any arrrount necessary to make up fhe deficiency, on or before the date when payment of such ground rents. taxes, assessments or insurance premiums shall be due. If ai any time the M1iorzgagor shall tender to t:te Sinrtgagee, in accordance with the provisions of the Hate :-ecured hereby, foil payment of the entire indebtedness represented thereby, the .iorigagee shell. in computing the amount of _ ;t indebtedness, credit to the account at the' Mortgagor all pa}'ments made under the provisions of !al of paragraph hereof which the Mortgagee has not become obligated to pa} to the ~crctan of Housing and C'rban Cievelogment and any balance remaining in the funds accumulated under the provisions of i6) of paragraph 2 hereof. [€ there shall 'oe a defauit under any of the provisions cif this martgage re=oiling in a public =ate of the premises covered hereby, or if the liortgagee acquire= the praperh otherwise after default, the )torigagee shall apply, at the lime of the commencement of such proceedings, or at the time the propert} i= othensise acquired, the balance then remain- ing in the funds act•umutated under ,`bl of paragraph '? preceding. as a credit against. the amount of principal then remaining unpaid under =aid note, and shad properly adjust any payments which shall hate been made under (aI of paragraph '.~„ a- That the },iartgagar wtfl pay ground reins. taxes, assessmznt.<., water rates. and other governmental or municipal charges, fines, or impositions. for which prvvision has net been made hereinbefarz- and in default thereof the `viartgagee may pay the same: and that the Mortgagor n ill promptly delivzr the official receipts therefor [a the Mortgagee. 5. The 's{ortgasor wiI! pay ail tales which ma}~ M izvied open the ~fartgagae s interest in said teal estate and improve- mznts,and which may be levied upon this m,+rtgage ,+r the debt secured hereby tbut oNy to the extent that such is Hat prohibit- ed by law and only to the ettznt that such will not make this loan usuriousi. bu[ excluding any income tax. State or Federal. impaled on Mortgagee. and will fttz the official receipt shoo ing such pat-meat with the tiartgagee. l.'pon violation of this under- ,akir,g...r if thz Mortgagor is prahihitzd i=y ane• tau noH ~.r hcreaficr existing from paying the whale or any portion of the afore- said taxes. or upon the rendering of any too; t decree prohibiting the payment by the Mortgagor or any such taxes, or if such law ar decree provides that any amount sa paid by the ~iortgagar shall 'tee credited un the mortgagz debt- the'oiortgagee shall have the right to give ninety days' uritten notice to thr owner of the mortgaged premises, requiring the payment of the martgage debt. 3f such notice be given, the said debt shat! became due. payable and collectible at the zxpiratiun c+f said ninety days. fi. -['flat shatrld he fail to pay zn} <urn or keep any ccyAa:~nt pr+tvided for in this !martgage. then the ~iottgagee, at its op- tion, may pay ar perform the same. artd :a;l expcnditure> so made shalt tee added to the principal sum au ing on the above note, shall be secured hereby ,and shall hear interest at [he rate set forth m thz said Hate. umil paid. ?. That he hereby assigns, transfers and sets over to the '+iartgagce. to he applied toward the payment of the note and ati sums secured he;ehy in case of a default in the pcrtosmance of any of the terms and :onditivns of this Mart_rage ar [rte said note, ail the rents, revenues and income to be dersved fr+,>m the mortgaged premises during ,uch time as the martgage indzbted- ness snail remain unpaid: and the ~iartgagee shall have tffciv. er to appoint any agznt or agents i[ may desire far the purpose of repairing said premises and of reining the same and collecting the rents, revenues and income. and it may pay out of said in- comes all expenses of repairing said premises and necessary commissions and expenses incurred in rentintt and managing the same and o€ 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 zrected vn the mortgaged property, insured as may be required from [imz to time by the Mortgagee against lass by f[re and other hazards, casualties and comingencies in such amounts and for such periods as may be requred by the Mortgagee and will pay promptly. when due, any premiums on such insurance provision for payment of -which has not been made hereint+efore. Alk insurance shaft be carried in companies ap- proved by the Mortgagee and the paficies and renewals thereof shaft tee held by fire Mortgxgee and have attached thereto lass payable clauses in favor of and in form acceptable to the Mortgagee. In event of toss Mortgagor will give immediate notice by -mail to the Mortgagee, who may make proof of loss if Hat made prompttp by Mortgagor. and each insurance camoany con- cerned is heretr$ authorized and directed to make paymem far such tars directly to the Mortgagee instead of to the li3ortgagor and the Mortgagee jainEly, and the insurance proceeds, or any part thereof, may be applied by the Mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration ar repair of the property damaged. In event of foreclo- sure of this mortgage ar ocher transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, ail right, title and interest of the Martgagar in and to any insurance policies then in force shall pass to the purchaser or grantee. 9. That as additianat and coiiaterai security for the payment of the Hate described. and alt sums to became due under this mortgage- the Mortgagor hereby asstgns to the Mortgagee sit profits, revenues. royalties. rights and benefits accruing to the Mortgagor under any.and all qil and gas leases on said premises, with the right to receive and receipt far the same and apply them to sdiiiiitdbtf~d~e~ss as well before as after default in file conditions of this martgage, and the Mortgagee may demand. sue Far and recover any such payments when due and payable, but shall no[ tre required so to da. This assignment is to terminate ,and become null and void upon release of [his mortgage fHA-2743M (1077) +os~' may: