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r 79- uU4 ~ 55 (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 (!l) [t" and sa tong as said note of even date and this instrumem are held by the Secretary of Hvusing and Urban Ikveiopment, a monthly charge (in lieu ~f a mortgage insurance premium) which shalt be ut an amount equal to one-twelfth (1)12) of one•half (1J2) per centum of the average outstanding balance due on the note computed without taking into account delinquencies ar prepayments; (b) A sum equal tp the ground rents, if :my, 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 cstimured by the Morrgugze) less all sums already paid therefor divided by the number of months to elapse before one month prior to Ehe date when such ground rents, premunns, taxes and assessments will become delinquent, such sums [o he held by Mortgagee in trust to pay said ground rents, pre- miums, taxes and special assessments; and (c) All payments mentioned in the twv 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 follow[ng items in the order set forth: (1) 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; (-It) interest on the note secured hereby; and (IY) amortization of the principal of said note. Any deficiency ht [he amount of any such aggregate monthly payment shall, unless made gvod by the Mort- gagor prier to the due date of the next such payment, constitute an zvent of default under this mortgage. The Mortgagee may collect a `gate charge" not to exceed four cents (4Q) for each dollar ($ I) of each payment more than fifteen (15) days in areas to cover the extra expense involved in handling delinquent payments. T6wr :f tt~ tote) of t~hn n~.~a..tc nt~,fn h~• tttn 1lnrfgannnr snda,r ~ R) nr nnraar~ntr ) nm~r.vr.na cttarl n the amount of payments actually made by the 9lortgagee for eround rents, taxes and assessments or insurance pre- miums, as the case may be, such excess, if the loan is curcent, at the option of the Mortgagor, shall be credited by the Mortgagee on subsequent payments to be made by the Mortgagor, or refunded to [he Mortgagor. If, however, the monthly payments made by the Mortgagor under (b) of paragraph 2 preceding shall not be sufficient to pay ground tent, taxes and assessments or insurance premiums, as the case may be, when the same shalt become due and pay- able, then the '.Mortgagor shall pay to the 99ortgagee 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. It at any tieae the Mortgagor shall tender to the Mortgagee, in accordance with the provisions of the note secured hereby, full payment of the entire indebtedness represented Utereby, the Mortgagee shall, in computing the amount of such indebtedness, credit to the account of tfie Mortgagor all payments made under the provisions of (a) of pazagraph 2 hereof which tJte `4brtgagee has not become obligated to pay to the Secretary of Housing and Urban Development and arty 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 provisions of Utis mortgage resulting in a public sale of the premises covered hereby, or if the Mortgagee acquires the property otherwise after default, the Mortgagee shall apply, at the time of the commencement of such proceedings, or at the time the property is otherwise acquired, the balance then remain- ing in the funds accumulated under (b) of paragraph 2 preceding, as a credit against the amount of principal then remaining. unpaid under said note, and she!! properly adjust any paymtmfs which shalt have been made under (at of paragraph 2, 4. That the Mortgagor will pay ground rents, taxes, assessments, water rates, and other 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 Mortgagor will promptly de{iver 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 real estate and improve- ments, and which may be levied upon this mortgage or the deht secured hereby €but only to the extent that such is nvt prohibit- ed by law and Doty to the extent Shat such wilt not makz this lean usurioust, but excluding any income tax, State or Federal, imposed on Mortgagee, and will file the official receipt showing such payment with the Mortgagee. Upon vk~lation of this under- taking, or it the Mortgagor is prohibited by any law now or hereafter existing from paying the whole or any pvrtivn of the afoee- said taxes. oe upon the rendering of any court decree prohibiting the payment 6y €he Mortgagor ur any such taxes, or if such law or decree provides that any amount so paid by the Mortgagor shall be credited en the mort¢age debt. the Mortgagee shalt have the right to give ninety days' written notice [o the owner of the mortgaged premises, requiring the payment of the mortgage debt. tf such ttat+ce 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 ar keep any covenant provided for in this !ltottgage, then the Mortgagee. at its op- tion. may pay or perform the same, and all expenditures so made shall be added to the principal sum awing an the above note. shalt be secured hereby. and shall bear interest at the rate set forth in the said nvte, until paid. 7. That he hereby assigns, transfers and sets over to the Mortgagee, to be aF-died toward the oaymem aC the note and all sums secured hereby in pse of a default in the performance of any of the terms and conditions of this Mortgage or tfte said nett, all the rants, revenues and income is br derived from the mortgaged premises during such time as the mortgage indebted- nessshali remain unpaid; and the Mortgagee shall have power to appoint any agent yr agents it may desire for the purpose of repairing said premises and of renting tht same and collecting the rents, revenues and income. and it may pay vut of said in- comes-ail expenses of repairing said premises and necessary commissions and expenses incurred in renting and managing the same and of collecting rentals therefrom: the balance remaining, if any, to be applied toward the discharge of said mortgage indebtedness. 8. Thai he wip keep the impiovemcnts now existing or hereafter erected on the mortgages) property, insured as may be required from dme to time by the Mortgagee against toss try fire and ether hazards, casualties and cvntingzncies in such amounts and for such periods as may be required by the Mortgagee and will pay promptly, when due, any premiums on such iasuraac~ prvv-ision for paymznt of which has not bzen made heezinbefore. Atl insurance shall be carried in companies ap- proved by the Mortgagee and the policies and renewals thereof shat) be held by [he Mortgagee and have attached thereto loss payable clauses in favor of and in form acceptable to the Mortgagee. Jn event of loss Mortgagor will give immediate native 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 suthotind and directed [o make payment for such loss directly to the Mortgagee instead of to the Mortgagor aad the Mortgage }oindy, and the insurance proceeds, or any part thereof, may be applied by the Mortgagee at its option either io the redtrciion of the irrdebtedttess hereby secured or to the restoration or repair of the property damaged. In event of foreclo- sure afthis mortgage or otheriransferof title to [he mortgaged property in exeinguishment of the indebtedness secured hereby. alt right,-tine arwi interest of the Mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee. 9. That as additional and collateral security for the payment of the note described, and all sums to become due under this mart~ge. dre Mortgagor hereby assigns to the Mortgagee al! profits, revenues; royalties, rights and benzfits accruing io the Mortgagorir any and all oil aced gas leases on said premises, with the right to receive and receipt for the same and appty -them to said indebtedness as well before as after default in the condirions of this mvrtgage. and the Mortgagee may demand, sue for and recover any such. payments when due and payable, but shall not be required sa to da. This assignment is to terminate and become null and void upon release of this mortgage.. •~ a r - FHA~2743M (10-7]I °+/ ...~