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<br />(!,) month prior tv its cltte date rice annual nx>rtgage'insurance premium in order to provide suc!t holder
<br />wirlt tund~s to pay such presni.um tv the Secretary of"Housing and urban Development puisuanC to the
<br />National bfvrrsing Aet, , s amended, and applicable Rtgutattons theseunder; or
<br />(li} [f and so long as said note vt even date and this instrument are held by the Secretary of Housing and
<br />urban Development, a monthly charge (irr lieu of a mortgage insurmtce premium) which sl.all he in an
<br />amount equal tv one-twelfth (1/E 2} of one-half (t/'?) per centurn of the average outstanding balance
<br />due vn the note computed without taking into account delinquencies or prepayments;
<br />(b) A sum equal tp the ground rents, if any, next due, plus the premiums that will next become due and payable on
<br />policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property (all as estimated kv the Mortgagee) less elf sums already paid ttrercfor divided by the
<br />number of months tv elapse before one month prior to the date when such ground rents, premiums. taxes and
<br />assessments will become delinquent, such sums ro be held by Mortgagee in trust to pap said ground rents, pre-
<br />miums, taxes and special assessments; and
<br />(c) Ali payments mentioned in the two precading subsections u! this paragraph and all payments to bz etude under
<br />the note secured hereby shall be added together, and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month in a single payment to 6e applied by the Mortgagee to the I'vllowing Hems m the order s<_t Earth.
<br />(1j premium charges under the eon[ract of insurans with the Secretary t,f Housinu ao t Groan L?evelupmeut,
<br />or monthly charge (irr lien ~~lm~rtgage insurrntre prenuunt), as the cax may he;
<br />Ili) ground rents, taxes, assessments, foe and other hazard insurance premiums;
<br />(tll} interest un the note secured hereby: and
<br />([V) arnouiration al the principal of said note.
<br />any deficirnc_v in thz amount of anq such a~regate monthly paynrzrn shall, unless made good by the Mi,rt-
<br />g::got prior to the due date of the next such payment, cartstitute an e+°ent of default under tins mortgage. ftrc
<br />lNortgager stay arllea a "late ultarge" nut to exceed fcnir cents (:y) for zaeh dollar (411 of each papment Inure
<br />thin tillecn (1 S} tla<s in areas to cover the extra espen:r inyvlyed in handling delinquent payments.
<br />:I. '['hat i f the terra! trf dte paymr,nt~ made by the 1lortgakor under (f) of paragraph '~ preceding .hall exreed
<br />the amount at i,ocmeat., actually made h}' the Mortg;tgee for around rents, taxes told assessments ar insurance pn:
<br />mums, Its the ca.+e mn~ be, such axccss, if the reran is current, at the option of the Mortgagor, shall 6r credited b}
<br />the MurtraTee on tub-;etwettt pav-ments t~ ba tnada h~ thtt 11ur+••aFOr, or ref ded t !! tr tt
<br />un ter he , vrtgaFer. .. otvever rho
<br />nutnthty payments made by the Mortgagor under ib of paragraph ?preceding shall not be sufficient to pay ground
<br />rent, tare- surd assessments ur insurance premiums, a4 the case may be, when the same shall become due and. pay-
<br />able, then the 1lnrtgagor ~hatl pay to the 11vrlKagee any amount. necessary to make up the deficiency. on or before
<br />the date when payment of such gmund rents, taxes, assessments or insurance premiums shalt be due. #f at any
<br />time the Mortgagor shall tender to the Mortgagee, in accordance with khe provisions of the note secured hen:by,
<br />full payment of the entire indebtedness represented thereby, the 1lortgagae shell). in ctrmputing the amount of sash
<br />indebrednests, credit to the account of the Mortgagor all payments made under the provisions of fu; of paragraph 2
<br />hereof which the ~brtgagce has Hat become obligated to pay to the ~erretary of housing and )`than Uerelopmcnt
<br />:urd env balanre remaining in the funds accumulated under the provisions of r61 of paragrtph 2 hereof. [f !hare
<br />shall Ere a default under any' of the provisions of this mrrrtgage resetting itt a puhtir sate of the premise- ce»erad
<br />hereby, or iF the 4ktrtKagee acyuires the property otherwi.sr• xiter dc•faut[, tht* Iktrtgagea shall apply, at the time of
<br />the commencement of such prnc•eadinga, or at the time the property is otherwise acquired, the 6alant•a them remain-
<br />ing in the fund: accumulated undr,r fl1 of paragraph '? prect•din!t.:ts a credit against the amount of principal thin
<br />rcrmaining wtpaid under .said note. and .;hall properly adjust any pavements which shttll hays been made under l:z?
<br />oC pura~raph `?,
<br />a. `that the Mvrtga~ar wdl pay ground rents, t ,xrs- assescmrnrs, water rates. and trthrr gvvrrnmrntal tx muuicipa!
<br />::hargrs, tints. or imposition,. or which provision has not hzt•n rnadr htreintrtfore, null in drfautt thereof the Llort{tagee ntay
<br />~:ay the tame: and that ti;e 4#orte;:sot wtP pr:;mpity dzh.er th;. „t{ici:;t re~eilrt therrt'or it the ;rtg~ct°.
<br />S- 'phr 4#trr+{, _gt'•r ~wtl? -tt <t..:ika:,-~ rv!!.~;h ma ter ;r. ire .rr,.n tt:e 1#ort~,agr,,; ,ntrrG i,. ,.cid r4tti rst3tr and itnprov>v-
<br />nrrnt,, and wtrich ma}' Ere iet'ird 4p{rn rtltS mprtr~*.4~C irr Itt4 irhr ±Cti nerd Rrrrtr4 tht:t :inly ({' tnC CxlCnt lust SL`in t, not prY3trStrit-
<br />.•et by t _ 1 ~ e. th- „ t ttr,.t ..6h ~ tl ~. ~~k.. eh - r -:a :~-. - h.. y-; ~~ ze= a r ~2d~ a .
<br />impoetd on furtg rgrc, an,t wilt Eve the uthui.tl re et#ra ,hutvrn} such p:r} mrnt with the Rtort4 raze- •t~pr~n vrotanvn.rf this urder-
<br />takin~, of if the ~furtgagc~r :; ,-..rhibiteti ?^t~ ar,y fah stru or hrreafirr c slsdng from pat tug thz +: hrtz of an} porttvn of the afore-
<br />said taws, or upon the rendering of an}' court drerer prt?hihi[ing the pa, nrcnt by the Mortgagor or ens ,uch Ltxts. or if wch law
<br />or decree provides that :rut nmaunt ,o paid by the :storlgagor ,hatl he credited an the mortgage drht, the !1#urtgagtr,hali hate
<br />ehr right kr girt ninrti days' written notice to the owner of the mortgagrif prermsr>. rzyuiring thz paymrnt of the mart{Zagr
<br />debt. If :uzh notice hr gnza. the .aid debt shall Yrecomr sue. payahlr and ct=lleclihle at th; evpiruiun of said ninth daps.
<br />h. 't'hat should he fait to p:ry <my ,um ar keep any covensrnt pruvidtd for ir, this Mortgage, then the '~#artragze, aF its op-
<br />tion, may pay ur prrfonn the ,:rms. and :dl exptnditures so made shall ht xdited to the principal wet awin{; oa the shoot Hutt,
<br />shall k+e ,scored trerrby..md ;hall tzar interest nt the rate; ,rt (urlh in the ,:eid note, unti(paid,
<br />'. That he hrrebw assigns, transfers and ,rt, ewer to the 1#ortgagre, to hr applied toward the pa} mrnt ejf tht- note and :tlt
<br />sums sreurrd hereby in ,:ass of a default in the prrfarmance of any of the teens and avrdibevrs of this REop{:,ige et ttrz ,aid
<br />Holz, all the rents, revenues and inoumz robe derived fnrtn the nxutgagzd prznti,ex dt:nng ,r:ch ume .e the mortr.:gr ,n;trhtrd-
<br />nza shall rrnutin unptud. and the >fortgagee ,halt have p<rwer to appoint any :ygerxt ur :tgznts n mat ttesttr for the purpo,r vt
<br />repairing said przmtses and of renting the same and ctdlectinK the rents, rzsenurs null inarmz. and it Hutt pas out of said in-
<br />comrs alt rxtrenses of repairing said txemises and nzczssary commis,iarts and rx frrttsr, tncuered in rentrng and nrauaging the
<br />syme and of uolircting rentals therefrom; the; rialnncr remaining. if any, to hr applied tottttrd the discharge of said tnnrtgagr
<br />indthtedness.
<br />K, 'Thal he will keep thr imprawrments now existing or herraftrr erertrd on the mortgaged proptrty, insured :ts may ht
<br />required front time to time by the Mortgagee against lass by fire and other hazards. casualties and ccrntingencirs in such
<br />-umuur-is and for suctr pzriad'< ~,;,-may t~ regturrtf by the Morttt:rgee and t4iti pay prnmptty, twtrtn due. any premium. an such
<br />insurance provision far paymrnt of which has not trrzn msdr hrrein#ytforr. Ail insuran€r shall rir carrittt in. Gontpanits ap-
<br />proved by the tw#ortgagee and the policies and renewals thereof shat! hr held by the Mortgagee and have attached thereto toss
<br />payable clauses in favor of and in form acceptablz Its the Mortgagee. In evem of lass h#urtgagor wilt give immediate notize t*y
<br />mail to tht Mtxtgagrr, who Wray makt p€vvf vt toss if net made promptly by Mortgagor, and rash insurance eampany eon-
<br />cernrd is hereby aathorized and dirtcted to make payment for such toss directly to the Mortgagee instead of to tht Mortgagor
<br />and the Mortgagee jtaintly, and tht insurance prtu;reils, ter any part thtrrof, may be applied by the R4e~rtgagec of its option either
<br />to the reduction of the indrbttdntss hereby stt:ttrrd ur to the restoration or repair of ehr property damaged. En event of foredo-
<br />- sure of this mortgage or other transftr of title to the mongaged property in extinguishment of the indetrtednes securr.d hereby,
<br />;dl right, title and interest of the Mortgagor in and to any insurance poticirs then in later shall pass to the purchaser or granter.
<br />4. That as additional and collateral seetrrity for the payment of the note described, and :rfl sums to hecomr tlur under this
<br />mortgage, the Mortgagor hereby assigm to the Mortgagee all profits, revenues, nryaltics, rights and benefit, accruing to the
<br />Mortgagor under any and all oil and gas leases on said premises, with the tight to rrcrive and receipt for the same and apply
<br />them tta said indebtedness as we!! before as after defauh in the conditions of this mortgage, and the Mortgagtt may demand. sue
<br />fcr and recover any such ptymenis when due and" # ayahte. but shall neat ter rtgaired sa hr der. This assignment is to terminate
<br />and become null and void upon release of this mortgage.
<br />FHA araaxn fro ~~r
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