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81-OQ2883 (1) 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 (II) V and so long as said note of even data and this instrument are held by the Secretary of Housing and Urban Development, a monthly charge (in Ifeu oja mortgage insurance premium/ which shall be in an amount equal to one•twelfth (1Jt2) of one-half (I J2) per centum of the average outstanding balance due on the note computed without taking into account delinquencies or prepayments: (b) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and payable an policies of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due on the mortgaged property /af! ar estimated b~~ the Mortgagee) less all sums already paid therefor divided by the number of months to elapse before one month prior to the date when such ground rents, premiums, taxes and assessments will become delinquent, such sums to be held by M1{ortgagee in trust to pay said ground rents, pre- miums, taxes and special assessments; and (c) AR payments mentioned in the two 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 following items in tL-e order set forth: (I) premium charges under the contract of insurance with the Secretary of Housing and Urban Development, or monthly charge /irt licnr oj+nortgage insurance premium/, as the case may be; (iI) ground rents, taxes, assessments, fire and other hazard insurance premiumr, (III) interest an the note secured hereby; and (IV) amortization of the principal of said note. Any deficiency in the amount of any such aggregate monthly payment shall, uriless made good by the Mort- gager prior to the due date of the next such payment, constitute an event of default under this mortgage. The Mortgagee may collect a "late charge" not to exceed four cents (4Q) for each dollar (51) afeach payment more than fifteen f 15) days ut areas to cover the extra expense involved in handling delinquent payments. 3. That if the total of the payments made by the Mortgagor under It t of paragraph 2 preceding shat! exceed the amount of payments actually made by the 5bngager for eround rents, taxes and assessments or insurance pre- miums, as the case may be, such excess, if the loan is current, at the opeion of the Mortgagor, shall be credited it the Rtortgagee on subsequent payments Ur be made by the Mortgagor, or refunded to [fie Mortgaguc If, however, the monttly payments made by the Mortgagor under (h% of paragraph Z preceding shall not be sufficient to pay gratnd rent, taxes and assessments or insurance premium=, as the case mac be, when tote same shall become due and pa}'- able, then the Mortgagor shall pay to the Mortgagee any amount nece.~san' to make up the deficiency, on or before lire date when payment of such ground rents. taxes, assessments or insurance premiums shall be due, tt at any time the !Mortgagor nhall tender to the Mortgagee, in accordant•e with [fie provisions of the note secured hereby, full payment of the entire indebtedness represented thereby. the llongagee =hall. in computing the amount of such indebtedness, ceeait m the account of the Mortgagor all payments made under the provisions oC (u1 of paragraph hereof which the Siorigagee has not became obligated to pay to the secretary of Housing and L'rban Development and any balance remaining in the fund- aceumufated under the pruvi=ions of lGj of paragraph 2 hereof. If there shall be a default under any of the provisions oC this mortgage re=oiling in a public .gale of the premises t•overed hereby, or if the Mortgagee acquires the pmpeny otherwise after default, the Mortgagee shall apply. at the time of the commencement of ouch proceedings, ur at the time the property i< athentise acquired, the balance then remain- ing in the funds accumulated under (h) of paragraph ~> preteding. as a credi t :rgxinst the amount of principal then remaining unpaid under said note, and shall properly adjust am puvment.~ which shall hact• been made underln) of paragraph 2, 4. That the Mortgagor will pay ground rents, taxes, assessments. water rates. and other governmental or municipal charges, fines. ar impositions, for which provision has not been msde hereinbefore. and in default thereof the Mortgagee may pay the same: and the[ the Mortgagor will promptly deliver the otiicial receipts therefor to the :Mortgagee. 5. The Mortgagor will pay all taxes which ma} he levied upon the Mortgagee s interest in ,aid real estate and improve- ments, and which may hr levied upon this mortgage or the drM secured botchy that vnh to the extent that such is not prohibi+- ed by law and only [a the extent [hat such wilt not make this loan tnunuus7. but occluding am income tax. State or Federal. imposed on Mortgagee, and will fife the otficiai , _ceipt showing such payment with the Mortgagee. l pctn violation of this under- taking, or if the Mortgagor is prohibiced h} any law now or hereafter existing from paying the w hole or any portion o(the afore- said taxes, or upon the rendering of any court decree prohibiting the pa}-[Went be the ~toryagor ar att. >uch raze,. or if such law ar decree provides that ant amount so paid hq the Mortgagor ,hall he credited on the mortgage debt. the Mortgagee shall have the right to give ninety days' written notice to the owner of the mortgage) premise.. requiring the pay-men[ of the mortgage debt. It such notice be given, the said debt shalt brcome due. payable acid cotlraible at fhr expiration of sail ninety da} s. 6. 'i-hat should he fail to pay any sum or keep any covenant pmtided for in this Mortgage. then the Mortgagee. at its op- tion, may pay or perform the some. and ull expertditurrs so made shall he added [o the principal ,um owing on the shoot note, shat) be secured hereby, and shall bear interest at the rate set forth in the said note, until paid. 7. That he hereby assigns, transfers and sett over to the tiiortgagee• to he applied toward fhr payment of fhr Weir and all sums secured hereby in cast of a default in the performance of am of fhr terms and condition of this Mortgagr or the sail note, all the rents, revenues and income w be derived Crom the mortgaged premises during such time as the mortgage indebted- ness shall remain unpaid: and the Mortgagee shall have power to appoint any agent ur agents it ma} desire for the purpose of repairing said premises and of renting the same and collecting fhr rents, revenues and income, and it ma} pay out of said in- comes alt expenses of repairing said premiers and necessary commissions and expenses incurred in renting and managing [fie same and of collecting rentals therefrom: fhr balartre rrmainutg- if any_ to he applied toward fhr disshsuge of said mortgage indebtedness. g. That he will keep the improvements now existing or hereafter erected on the mortgaged property. insured as may. be required from time to time by the Mortgagor against lox h} fire and other hazsrds, casualties and contingencies in such amounts and for such periods as may hr rr4uirrd t+} ti®e !tiertgagre and will pay promptly. when due, any premiums on such insurance provision for payment of which has oat been made hereinbefore. AU insurance shalt hr carried in companies ap- proved by the Mortgagee and the policies and renewals thereof shat! be held by the 4ortgagee an6 have attached thereto toss payable ciausex in laver of ansl inform acceptable to fhr Mtxtyagrr. In event of has Murtg:tgar will give immediate Holier by wait io fhr Mortgagee, who may make proof-of loss if not made promptly by Mortgagor, and each insurance company cnn- cerrtred is imrtby authorized and directed to make payment for ouch loss duectly to ihr Mortgagee instead of tp the Mortgagor and the Mgngagtr jointly, and the insurance pre+creds. ar any part thereof. may hr applied by the Mortgagee at its option either io tits reduction at the irtdehtedttess hereby se.:ured tx to the rtstoration ar repair ut the property damaged. In event of foreclo- sure,otthis mortgage or other transfer of iitk to fhr mortgaged property in rxtinguishrurnt of the indchtedncs, secured hereby. tdl right. title and irrterru pf fhr Mortgagor in and to any insurance policies then to farce shall pass to the purha.ser or grantee- 9_ That a additional and cotlaterai security for fhr payment oC the note drscrihrd. and sf! sums to hrcnntr due undo; thi, mertgagr, the Rfuit •~tgor hereby assigns io ihr hiortgagre ail profits, rrvrnurs, rovahies. rigftts and t+cnrfiTs :tcvruing tt~ the Mtxtgagt+r under any and sit oil and gas leases an said premises. with the tight to recet+e amt reveipt ftt the ,untr and apph them to said ittdcWettrtrss as wet} hrtort :r4 alter drtrvh in fhr curtttitiotty ctt 4hit ntortgoge. and fhr Siertgagte may.[rat:,ncL ,ua tat and recover any such paymrnlc when dot and payable, huE sha[I ru+t t+e required „• !r ,;,•. thts assigtmtrn[ i, fe trrmmate and tttcumr Dull snot void upott retrace rd chic mortgatjc.