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$(}- uf~'737
<br />(I) month prior to its due date the annual mortgage insurance premium in order to provide such holder
<br />with funds to pay such premium to the Secretary of Housing and Urban Development pursuant to the
<br />National Housing Act, as amended, and applicable Regulations thereunder; ar
<br />-(It) If and so long as said note of even date and this instrument are held by the Secretary of Housing and
<br />Urban Development, a monthly charge (in lieu of a morrgcge insumnce premium) which shall be in an
<br />amount equal to one-twelfth (I/12} of one-half (1 J2) per centum oC the average outstanding balance
<br />due on the wte 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 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 (al! as estimated by the 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 />assessments will become delinquent, such sums to be held by Mortgagee in trust to pay said ground rents, pro
<br />miums, taxes and special assessments; and
<br />(c) Al! payments mentioned in the two preceding subsections of this paragraph zed all payments [o be made under
<br />the note secured hereby shall be added tggether, and the aggregate amount thereof shall be paid by the Mortgagor
<br />each month N a single payment to he applied by the Mortgagee to the Following items in the order set forth:
<br />(I) premium charges under the contract of insurance with the Secretary of Flousing and Urban Ivelopment.
<br />or monthly charge /in lieu of mortgage irrsurancc premium/, as the case may be:
<br />Qi) ground rents. taxes, assessments, foe and otter hazard insurance premiums;
<br />fit}) irreresi an the note secured hereby;~:md
<br />(IV) amortization of fheprincipal of said notc-
<br />Any deficiency in the amoum of any sorb aggregate monthly payment shush unless matte gootf by the Mort-
<br />gagor prior to the due date of Che next such paryment. mnsthuue an event of default tua3 er this xa?ortgage_ The
<br />Mortgagee may collect a "late charge" eat to exceed four cen[s I~tu) fo, ~aclt dgllar {;Ell of eacEt [aaytne»t mere
<br />than (ifreen (LS) days in areas to raver the extra expense mvalaed in handling deGnqucnt poynrents..
<br />`That if the total of the payments made by the Moaf;agor tmdcr ;1~,+ of pacagrapir i grrtacctdin,g shall exoeed
<br />the amount of payments actually made Irv die ylortgagee Par ~ruund rent,- Case= and assecsrnenis nr insurance pre-
<br />miums, as the case may be, such excess, if [he loan is current, at the option of the Mortgagor, shall lx credited be
<br />iha :yiortgagee on subsaquem payments Lo be made by the ~Akvt~~agor, or refunded to the 1lurtgager- !f, honer°e r, the
<br />monthly payments made by the Mortgagor under /,hJ of paragraph ? preceding chat I nor he sufsicient to pay ground
<br />rent, taxes and assessments or insurance premiums, as the ruse may be, e-h<m the same ~hitll trecomu due and par-
<br />able, then the Mortgaeor shall par ur the Mortgagee any amount nece=sari- fo make up the dePicienov, on or before
<br />the date when payment of such gmund rents, taxes, assessmems ar insurance premi mn- -halt Le due. ii' a.t env
<br />time the 1lortgxgor sha[I tender to rite liorigagee, in accordance ;yith the provi?ion_ of the note ,ecured hereby.
<br />full payment of the entire indebtedness represented thereby. Ihr. llorigt~ee shall, in competing the amount +..f such
<br />indebtedness, credit to the account <:rf rho !;-inrtgagnr elf {raynrents m:rdcr :u~ticr rhtr pru,•tsionx r+f ! ~~; ~+f yarazrac'~ih
<br />hereof »•hicir the ifnrtgatgee has out beexrmn obligated ui par irc~ ih,• `eerotatl~ .a lfousi nt! ;and i-rban licvelopnient
<br />and amp balanoe remaining .n thu funds accumulated rattler dtir prnci~<innn ,~f ~- ~~f paragraph '_' he•reoC ff Ihrra-
<br />.=hull be a default under any ,C the provisions o[ this' nu i tsa}te rc^.-td ]t ;_ a nubl,+ -.dam i _ r- r _ _-av}
<br />hereby, or i( the 1lnrtgagen acqutm- the prapert} oth oret~se after lt.f ruh..~he AI trrua~,ce ,hail apply [ t u time of
<br />than commencement ne u h .rsnees~thnp-, nr he i:ma r ,;r:,pt:° i - ihu. a y:,: ~ , .h l.~l..rr.• seer ..~uurin-
<br />anp, in rite funds :mcumufutod outlet 'LJ of p'~arngtvph Y precoding. ~:, ;n crodii fi•w u'a~t the ammnn ck" °irinripa.l then
<br />t ma.inirrt unpaid undtr --n, n~u,c, ctrl `-hand i-'ped} nit r.-t <.nti• p-rymtnr:: .- ,ci. .~..;~ `,nee Fet•n t;t adr urdar r=~ -
<br />cP `uraryraph '.
<br />4. That [he titortgagur wdl pus ground rents. lasea. asses,ment. o:aer r.oen. .nd ~aircr cos ernmentai .n :,ru mc; p.d
<br />chafges. fines. ~.n' imposition., for ;; hich pm vi,in^ hm not 'neon made brrrinhefnrr.: nd :.. default ;hereof the `.hrct c.rgec ia,a;
<br />pay the >ame: and that the .4hxtgagor ,till promptly del seer [he otllcial scripts thrreirrr ~~, the Vlortpagee.
<br />i. The M1lortgagor will I*a; alt taxes which mat he levied upon the Vf ortzagre\ imerest ~^ said rc;l r,t.ne and rr:prose-
<br />ments, and which may he t,•vied upon Chi. mortgage ur the debt .rcured hrrehr thrt Deis it the extent That :ucb n nm pmhii+n~
<br />rd by law and only to the extent that wch will nw make this tune usurioml, hie c~.eludmc am 4rcom~• [s,. `~t.;te ai 1-eder~t,
<br />imposed on Mortgagee, and will file the reficiul receipt ,howl ng curb pay~mrnt ;+nh Ifle M,:rigaecr- 1'pun ~ a~l.iuon cf Chu, r.iwer-
<br />taking. or if the Mortgagor is prohihued by :mv tae nmv ar hereafter e.xiuing from par mg IL•c r, bete ~n::m n• ..ion ,i rhr .a,-re-
<br />taid taxes, or upon the rendering of any court decree prohibiting the pa}mrnr br the it--;, tg:;got cr :, rr. ,uch •i.r up :~r d +uch f ~w-
<br />ardec[ee provides that am• amoum ,•n paid hy- die Mortgagee ,hail 6c credited on the arm [gape debt. !hr ~fnriu~ee hall Inne
<br />the rigfi io give ninety d:p a' v~riucn nonce to the or;-net of the mortgaged premi,e,. xywrine [he oa; mcm r~t the snort Kage
<br />debt. tf sorb notice hr gix~en, the ,aid daht ,hall becromn due. p:O~ahlc and talicctihir a! tpn _ spr::;m: ,-f ,.;axi tenets ,ia; ,
<br />fi. Tbat ,houlii he (ail nr pup one su:n or keep ;uty coven.,m provided f_n in Ihi, i!,n p;.ruc.:hcn rho ~hrc~eagce..u m ,q~-
<br />tian. may pay 4r perform the ~~amn, :ond all cxpendnures ±ur made ,hat! be added to the ia-inupai +um awme rvr rile ,:hove note.
<br />shall be recw~ed hereby, and shall been utlerest at the rate set forth m the ,aui note. ones nam.
<br />"I"hat he hereby assigns. ir:msl ers and sets over to the Mortgagee. ny hr appbed n,e;~rd the p:rvmem r•t Nee note .:nd :dl
<br />sums secured hereby in ruse of ~ default in the perforrnauce of ens of the rrrm~ .nut .onduioas of Chi, ihrrn,:rce r=r rix ,mJ
<br />pate, all the rents, reyemtas and income to he derived from the mortgaged preen i.e, Juri ng sorb umr .is the rr~utu,:e ~ndehted~
<br />ness shalt reunite unpaid; and the Mortgagee +hall have power io uppnint um~ agent or apcm, it mad de. u~a f;~~ dn• purpt~sc ,~I
<br />repairing said premises and of reeling [he same umi rollerlmg the rentN. rc, envies ,md mcome.::nd o stray I+.a ~uu al +:ad ~n-
<br />rnm~ all expenses of rc, tr. :aid premtac> vn n~~>= ,ur; ~armnin;u~n. ,r,-a _.pc n... <uw,: ru ~a .curing n - r;tn,,~gtrg the
<br />same-and of cnlleeting tensely thcreLom: the halunce remaining, i( rn°, tq hr:.ppli;u b~rcard the ~h•,ehtu~e ~-f :ctrl ^:,rrts:-age
<br />indebtedres+. -
<br />R. That he will keep the improvements nmv existing or harralter eroacd ~•n the mot [gaged !+mprrn~, ni*ur.r us mot oe
<br />required (rum dme to time ht the 0.iortgagre against lose by hre mni .abet harcu ds. tasuahies :drd ,;gym mgencie, in .uch
<br />umovms:md for such peritxis as ;nay he. required by rhr Mortgagee ;:nu e-dl p::c prurnMl•.. ,•. hen titre, .gym pranuuu+, on ~a:ir
<br />insurance provision for payment of which has not bean made heremhefure- Ali msuranrc •.hall br carrreri in i.ongr;mir..ip-
<br />proved by the Mortgagee and the policies ;utd renewals thereof ,h:dl he held L•} i!re Alerigagec• and have :aia: hrd Ibe: rem io~t
<br />payable clauses in favor of and .n farm acceptable to the ~tnrt,nigee. In cs em of Lr>., :her igag.a ,. tll ~n r ,innirdrnr enure hr
<br />mail to the Mortgagee- who may make proof oC loss if met made promptly by Mnttgaeor. sod each uuur:uur _on~l,>;mt ~on-
<br />cerned is hereby authnri zeJ .md directed to m~rke paymem for such lost directly to the Mortgagee insreari of m the Mortgagor
<br />and the Mortgagee jointly, and the insurance proceeds. or ant part thereof, mat he upphed by the wl nrteagce a ii; opuon ether
<br />to the reduction of the indebtedness hereby secured or m the resn>ration or repute of the proper[; damaged. In c~cnt of hrrerl:r-
<br />sure of this mortgage or other transfer of [file to the mortgaged property in extingwshmem of the indeMe<inr„ ,ecured herehy.
<br />•:dl right, Btie and interest of the Mortgagor in and to any msur:mce policies then m force shall pass tc she ;~mcha>er or vraniee.
<br />9. That as additional and arilateral secunty for the payment of the note des: nhed.:oJ alt wms m become glue under ;his
<br />mortgage. the Mortgagor hereby assigns to the Mortgagee .+11 prafits. revenuer. nwaitres. nehts and nenelits accnnng to tree
<br />Mortgagor under any and ail oil and gas leases un said premises, with the nght m scene ;md receipt for the same and npph~
<br />tt~m to said indebtedness as :v?II 6efrr? as after default in the ce-ad¢ions cf Chia mortgage, and t e Mortgagee tea; demand. ,ne
<br />for ctrl recaver any such payments yahen due and payable, but shall not ht• rey trued ~o to do. ~i his osvunment i, ur tennmate
<br />and become mtli and void upon release of this mortgage.
<br />~ I,A ^. 16aN I t0 ]71
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