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8(d- ®G-~
<br />{1) month prior to its due date the annual mortgage insurance premium in order mprovide such holder
<br />with funds to pay such premium to the Secretary of Housing and Urban Development pursuant tea the
<br />tiational Housing Act, as amended, and applicable Regulations thereunder; ur
<br />(II) if and so long as said note of even date and this irstrurrsnt are held by the Secretary of Housing and
<br />Urban Development, a monthly charge (in lieu of a mortgage insurance premium j which shall be in an
<br />amount equal to onatweffth (S(12) of one-half (1 JZ) per contain cf the average auzstanding balance
<br />due on the note computed without taking into account delinquencies or prepayments;
<br />(b) A sum equal tq the ground rents, if any, next due, plus the premiums that wdl next become due and payable on
<br />policies cf fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property (a!1 as estimated by fire Mortgagee) less all sums already paid therefor divided by the
<br />number of months to elapse before one month prior to the date when such ground rents, premiums, taxes and -
<br />assessmenzs well become delinquent, such sums to be held by Mortgagee in trust to pay said, ground renzs, pre-
<br />miums, taxes and special assessments; and ~ _
<br />(e} Alt payments mentioned in the two preceding subsections of this paragraph and all payments [o be made under
<br />the note secured hereby shall be added utgether, and the aggregate amount thereof shall be paid by the Martgagor
<br />each month ht a single payment to be applied by the Mortgagee to the following items in the order set forth:
<br />(q premium charges under the contract of insurance with the Secretary of Housing and Urban Development,
<br />or monthly charge (in lieu ojmorrgage insurance prenriuntl, as the case may be:
<br />(11) ground rents, taxes, assessments, fire and other hazard insurance premiums;
<br />(ell) interest on the note secured hereby:arid
<br />(IV) amartization of the principal of said note.
<br />Any deficiency in [hr amount of any such aggregate monthly payment shall, unless made good by the Mbrt-
<br />gagcr prior to the due date of the next such payment, anuGtute an event of default under this mortgage. The
<br />bortgagee may collect a "late charge" not to exceed four cents {4g) Cor each dollar (S 1) of each payment more
<br />than fifteen (15) days in areas to cover the extra expense involved in handling delinquent payments.
<br />:3. That if the total of the payments made by the Mortgagor under f f:J of paragraph `? prec•ediog shall exceed
<br />the amount of payment, actually made b}• the Mortgagee far eround rents. taxes and assessments or insurance pre-
<br />miums. as the case mac be, such excess, if the loan is current, at efie option of rEte 5lortgagor, shat! be credited by
<br />the Mortgagee on subsequent payments to 6e made by the y'lortgagor, or refunded to the Mortgagor. if, however, the
<br />monthly payments mode by the llorigagor under /h) of paragraph ]preceding shall nor be .sufficient to pay ground
<br />cool, faces and assessments or insurance premiums. as the ca=e mac be, when the same .~hali become due and pay-
<br />ablee then the \lortgagor shall pay to the 9iortgagee ant amount necessary io make up the deficient}'. on or before
<br />the date when payment of such eround rent=. faze<~, rise=sment ar insvrance premiums shall he due, If at an}'
<br />time the llorteagor shall tender io the Mortgagee, in areordance With the prorision> of the note =ecured hereby.
<br />full pa}ment of the entire indebtedness rnpresentc•d thereby, the 1lorigxgee shall. in computing the amount of such
<br />indebtedness. credit ro the aceennt of the !Mortgagor all payments made under the provisions of ra! of paragraph '_
<br />hereof which the Mortgagee has not become obligated to pax [o the recretan~ of Housing and C'r6an peveoopment
<br />and anz• balance remaining in the funds sccumu!ated under the pnavisinns o((bi of paragraph 3 hereof. [f there
<br />=hat! be a default under an}~ of the proyisinn~ trt this murtgac rte-vlting in a public sale of the premises covered
<br />hereby. or if the Mortgagee acquires the prnpern otherwise after Iltdault, the Vorigagee shall apple, at the time of
<br />the commencement of such proceeding=, or to [he time the property i~ othenvi<t• acyuircd, the balance then remain-
<br />inh in life fonds accumulated under;-'. ~ of paragraph - pr.c dint -z cr1•dit aga,n~t the amount ut prttrctpal then
<br />remainink unpaid under :aid note and =hall proper!, ad t --1 an, + v rkms 4.t,;ch -h a!! have been made ,odor ra.'
<br />of paragraph d, -
<br />" That rn \tcrig cr w:!i p- t~ -r and en - - r r - tna nee k ernmem tl ° :tune ip -t
<br />charges, fine, or rmonslo, ns, for .vt nh peel, i.i-n ha n„t e •t m~sde hx-r ..~r;.-r ,a..a ;.. d_t.su...her..uf the Me,, ig.,ye, Huai
<br />pay the same: and that [he Mortgagor w-ill promptly deli, er the orfiCrd rc.'Clpts therefor to the Mortgagee.
<br />i The Mortgagor will pxy all reset which may he Ie•: led upon the .Mortgacer\ interest in mid real estate xnd impro,r-
<br />ments, and which may be levied upon thts rnortgagr or the deht ,e:ure+i herehy Ihut only to the extent that such i. not prohihit-
<br />td by tau and Doty [o the extent that each ail! not make thi•. loan trsurioust. hat excluding ant income nn. Stair or Fedrrd,
<br />imposed on Mongngce, and will file the otiici;,! receipt sho,sing such pay mrni ,~ nh the Mortgagee Cpon rioiauon of this undrr~
<br />taking, or if the Mortgagor is prohihited by an} la,+ no„ or hereafter exiwng from paying the a holy or am ponies of the afere-
<br />,aid taxes, or upon the renderine of am court decree prohihutng the payment h, the Mortgagor or any ,wch tares. or If wch la,+
<br />or decree provides that am amount w p;tld h} the if ortgagor ,hell he credited on the mortgage deM, the ilartgager >hall ha,c•
<br />the right to give ninety days written notice to the owner of lhr mortgaged pro reuses, requiring the payment of the mortgage
<br />debt If such notice he given, the ,aid deht ,hall heu,me due, pa,able and tallrrtihle :d the axpir.Itton of ,aid ninety da, s
<br />fi. 'that should he tail to pay ans~ 'um or keep .m} coven art pea, Ided hx m thl - Mortgage then thc• ~iortgi ee, al ns ~+p
<br />u -n, maq p n or perform Ihr name - nd al! rxprndinrres w made shat be added is h- princtpa' ,um cwtnE rn [hc ai+o,e rote
<br />shall he secured herehy, and shall bear interest :rt the rate sue forth m the card note, anal paid.
<br />". 'f hat he herehy assigns. transfer, and sets Doer n, the Sh+ngagec. to i,r applied ton and ihr pay corm of the mne and all
<br />sum-, secured hereby in cur of e default in the performance at any cf the term, and condinons of thlc liortgage or the ,md
<br />note. a!I the rents. revenues and income to he derived from the mortgaged premnec dunng such Gme : ,the !nnrigaee utdebtrd-
<br />nrss shall remain unpaid: and the Af ortgagee shell have power to appoint am agent or agents Ii ma, dram for the purpose of
<br />repairing said premises and of ranting the same and a>Ileciing the rents. revenues ;Ind income.:md it may p,v out of said in-
<br />comes ail ezpenses of repairing said premises and necessary commissions and rzpenses incurred In renting and managing the
<br />same and of collecting rentals therefrom: the balance remaining. if any, to hr applied toward the Jisrharge of ,aid mortgage
<br />indebtednes,.
<br />S. That hr wilt kelp [he improvements now exrsnng or herraltrr erected or. the mortgaged p«eprrty. mwred ac mac hr
<br />required loin time to time by the Mortgagee against loss by fire and other har.¢ds. ensuah ies and amuneenctrs m such
<br />amounts and far such periods as may he required by the 1ortgagee rind will oar promptly , u hen due. am premulms on wch
<br />insuranct provision for payment of which has not peen made hereinhrfore. All insurance shall he earned in almpantes ap-
<br />proved by [he Mortgagee and the policies and renew:ds thereof shall he held by the Mortgagee and has e starched thereto loss
<br />payable olauses in favor of and in form acceptable to the Mortgogee. fn event of loss Mortgagor will glee immednue nuhce b,
<br />malt to the Mortgagee, who may make proof of Iecc if nor made promptly by Mortgagor, and each insurance company am-
<br />cerned is hereby authorized and directed to make payment for such loss directly to the Mortgagee instead of to the Mortgagor
<br />xnd the Mortgagee jointly, and the insurance proceeds, or any part thereof. may he applied by the Mortgagee at ns option either
<br />to the reduction of the indebtedness herehy secured or to the reuoratinn or repair of the properly damaged In evrm o(foreeln-
<br />sore of this mortgage or other transfer of ripe to the mortgaged property in extingulshmen[ of the mde Mednec> x•currd hrreb,.
<br />all right. title and interest of the ,Mortgagor in and to any insurance policies rhea m force chat! past n+ the purchaser or grantee.
<br />9. That as additional and collateral security for the payment of the note descnbed. and .ell cams to heroine due under this
<br />mortgage, the Mortgagor hereby assigns u, the M19ortgagee all profits, revenues. royalties. nghu and henefits accruing to the
<br />Mortgagor under any and all oil and gas !rases on said premises, with the right to receive and receipt for ihr came and apply
<br />them to said indebtedness as well 6efure as after default in the conditions of this nwrtgage, and the Mortgagee ma, demand. sue
<br />far and reccvrr an}' such payments svbrn due and payable, hu[ shall inn he requved u, rte do. This assignment is to trnnmatr
<br />and become null and void upon release of this mortgage.
<br />FN4 2/A3M 110 ]]1
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