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('!;1 month prier to ilia due aiatr~ the annual rnoirFgage insurance prem~iurr. in atrder to prewi~dr sue}r, haBdrr with funds to pay soCtt premium to ihr Secretary of Housing and trban Drvrtaprnent pursu~tt6 ?a Lttr National Housing Act, as amended, and applicable Regulattrms thereunder; ar (11) If and so long as said Hots of even date amf this ins?rumens ar held by the Secretary of Housing and iJrban lJevrlopt±tent, a monthly charge /in lieu of a mortgage insurance premium/ which shall be in an amount equal to one-twelfth f l /i 2} of or:e-half f l (2) per crnium of the average nuzstanding balance Sue on the note computed without taking into account delinquencies or prepayments; ('o) A sum equal to the ground rents, if any, next due, pros the premiums that will next become due and payable on po}ides of fire and other hazard insura'ce covering the mortgaged property, p}us taxes and assessments next due on the rnortga~d praprtty (al( ar estfmared by the Mortgagee) less all sums already paid therefor ddvided by the number of months to elapse before one month prier to the date wfien such ground rents, premiums, taxes and assessments will become deliriqueni, such sums to be held by Mortgagee in t:vst to pay said ground rents, pre- miums, taxes and specie! assessments: and (e) All payments mentioned in the two preceding subsections of dtis paragraph and all payments to be made under the note secured hereby shall be added together, and the aggregate amotmt thereof shall be paid by the Mortgagor each month in a single payment to be applied by the Mortgagee to the following items in the order set forth: (t) premium charges under the contract of insurance with the Secretary of Hausins and lrrban Development, or monthly charge (in lieu q(mortgage insurance premium/, as the case may be; (il) ground rents, taxes, assessments, fire and other hazard insurance premiums; (llt) interest on the note secured hereby; and (IV) amortization of the principal of said note. Any detteiency in the amount of any such aggregate monthly payment shall, unless made goad by the Mort- gagor 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 faur cents (4e) for ea:,h dollar (S1) of each payment more than fifteen (15) days it arrears to cover the extra expense involved in handling delinquent payments. t3. That if the iota! of the payments made by the \lortgagor under /t,) of paragraph l preceding shall exceed the amount of pttyment_a actually made by the 4lorigaRee for erottnd rents, taxes and assessments or insurance pre- miums. as the cue -a-' ~..-.:sf: excess, if th€ !:~.: i_ ^urreat, at the option of the Mortgaeor, shall be credited by the Nor'tgagee on subsequent pa\7nentc io be made by the JloHgagor, ar refunded U+ the Mortgagor. If. however, the monthly paytnents made by the Mortgagor under rte) of paragraph 2 preceding shall not be sufficient to pay ground tgtt, taxes and as~te-ssmen>M1: or in_arrancc premiums. a~ the case may be. when the game shall become due and pay- able, than the ~brtgttfmr shall pay to the 1lortgagee any amount necessary to make up the deficiency, on or before the date when payment of -itch ground rents, taxes, assessments or insurance premiums shall he due. If at any time the tortgagor shat! tender to the llortgaeee, in accordance with the provisions of the note secured hereby. full payment of the entire indebtedness represented thereby, the Sbdgagee shall, in computing the amount of such indebtedness, credit to the account of the Mortgagor all payments made under the previsions ai r~u of paragraph 2 hereof which the ylortgagee has not become obliKated to pay to the kcmtary of housing _nd I roan Development and any balance remaining in the funds accumulated under the provisian~ of . ~ ; of paragraph '1 hereof. If there shall be a default under any of the provistons of this mortgage resulting in a public male of thtt premise- covered hereby, or if the 1lortgagee acyuires the properh otherwise after de.ftult, the Sktrtgagc4~ shall apph, a[ the time of the commoncement of such pros°eedinra, nr at the time the property i= otherwise acyuired, the bxl:mce then remain- in¢ in the funds accumulated under (bi of paragraph "preceding, as a credit :gtainst the ansount of principal then remaining unpaid under said note, and shalt properly adjust ens paymeax> which ,hall ha+e trecn made under tai of paragraph :', 4. Thai the Martgagur will pay ground r~nis. razes. assessments, water raies..+nd tatter guvernmentxi ar municipal charges, ifnea, ar impost ;ar able h pr;,+t-v.sr~ - Hat txen made he~einttrfarr. .nil +:R:irfauit theret,€ the MorFe gee .- ay F,ay tF;~~ lam€: and that the~R;ortgagcr to-ill pr~n:p.-> deliver the uffteial re_eipts theref=,r to the ~t.>rtgags•e. s. T-hr Maz[~ttgor wilt pay ail taxes which may ire levied up;tu the ~iorigarrc~+ +itiere~t iii ,aid teal estate and i,.ipr;;vr- ,.,.a ..,+.;.-t. ,.,~,: t,n b..:.,.t ,,,,.,a ;hi. m.,r+o.o.. ,v the .lehr .e.~ured here h+~ Yh+u anlt~ tit lhr extent chat Sut:h is Hal Drahlbll- rd by law and only to the extent that such wdi nut make this loan usuriaust, btu exdudmg any income tax, Slate or l~rderah impaled an Mortgagee. and will file the othcia! receipt showing such paytnent with the viurtgagee. i`pan vioia[ion of this under- taking, ar if the Mortgagor is prohibited by any law now ar hereafter existing from paying the w hole ur any por[ian of the atore- saidtaxes, or open the rendering of any court decree prohibiting the payment by the htartgagor or any +uch taxes. or if such law or decree provides that any amount so paid try the Mortgagee shall he credited on the mortgage debt, the Mortgagee ,hall have the right to give ninny days' written twticr to the owner of the rnartgagrd premises, requiring the payment a( [he mortgage debt.lf such notice 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 or keep any covenant provided fur in this Mortgage, then the Mortg:tgre, at its ap- tian, may pay or perform the same. and aR expeniliuirrs so made shall he added to the principal sum owing on the above Hate. ,hall be secured hereby. and shall bear interrsE ai the ra[e art forth in the said Hate, until paid. 7. That hr hereby assigns, transfers and sets over ut the Mortgagee, nt he applied [award the payment of the note and all sums secured hereby its case of a default in the performance of any ut the terms and conditions of this Mortgage ur the said note, alt the rents, revenues and income to be derived from the mortgage) premises during such time as the mortgage indebteil- ness shall remain unpaid; and the Mortgagee shall have power to appoint any agent or agents it may desire far the purpose of repairing said premises and of renting the same and collecting the rents, rr+enues soil income, and it may pay out of said in- comes alt expenses of repairing said premises and necessary cammissiuns and expenses incurzed in renting and managing the ~artir acrd of cvtlacting rentals therefrom; the balance remaining, if anq, to be appiieil atwaril the discharge of said mortgage indebtedness.. 13. That he will keep the improvements Haw existing ur hereafter erected un the mortgaged property, insured us may be ,~irH ; .ru:! ti~E,=. t?, ti~,€ {?y t~ M,~s;saa,4e against :'o=,=. by tits -and otter?' ttaz~rds. casualti~c and contingtnrirs in such a+~scuttts arw far such pe gods as may br required by tree ~lartgagee and will pay promptly, when due, any premiums un sue h insurance pravixion for payrnent of which has Hat been made hrrrinbeiore. Aq insurance shall rte carried in companies ap- proved by the Mwtgagre and the policies and_renewa{s thereof shall be held by the Mortgagee and have attav bed thereto loss p>tyabk clauses in favtu of and in farm aeeeptabie to the Mortgagee. In event oI loss Mortgagor w ill give immediate notice by mail tti for Mrmftaget, who may make prowl of loss if Hat made promptly by Mortgagor, and each insurance company con- crrned i~ hereby authorized and directed to make payment fur such lass directly to the Mortgagee instead of w the Mortgagor and-the ltftitiv~~e~oitttly, and the insurance prorerds. nr ai+y part therraf, may tx applied by the Mortgagee at its option either to the rrductftin of tiie irtdrbtrdnrss hereby secured or to the rrsttnation 4K repair of the property damaged. (n event of furec{a- sure a# this rncntgage ar other transfer of title to the mortgaged praper[y in extinguishment of the inilebtrilnrss secured htrehy, all t''sgltG title and interest of the Mortgagor in and to any insurance pohcirc then in faur shall pass to the purchaser or grantee. 4. Timt:+a additional ,;nd collateral security tar the payment of fire Hair drscrittrd, and all sums w he.:ome due under this -rxarigu~C„ t.`~ k;istizr€ heec6y assigns to the Mat'igagre alt profits, rekentars, r<tyalties, rights and hrnelits acLruittg !a tltr ~fc+rtgagor under any and al! ail and gax bases alt lard pa`ent'srs, with the right to receive and receipt for the same and spelt tltCtn to said iadehtcdnrss a; welt before as ~aftrr dr~ault in the c~tnditions of this uxtrzgagr. and the 'turtl`:+gre may demand. ,ue ti+r anal rrs`itYes any sti:h p;iymeotx when dtie ans# pagrtste•, cwt Stiaii n€tt t+e rrytnre:i .;> t;t d++ 1 hr. a.>ignmrnt is ra rerntirittEc ,~,...=fer~.e rmv ;~~ .,=.-=•R at ,.i s'cle _: •=f zl~s r*.kc,rt,.~ Vic`, ~tUCSSt, t43M t~ ;9;