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('I) month pHor to its due date the annual martgitge [nsurance priemium in order to provide such holder
<br />with futids^ to pay' such fiteatium to the' Secretary of Housing, and Urban lhvelapmeot pursuant to iht
<br />National Housing Act, as amended, and applicable Regulations thereunder; o:
<br />(II) If and so long as said note of even date and this instmment are held by the Secretary of Housing and
<br />Urban pevelopment, a monthly charge (fn lieu of a mortgage insurance premiam) which shall be in an
<br />amount equal to one-twelfth (I/12) of one-half (1 J2) per centum of the Lverage outstanding balance
<br />due on the note computed without taking into account delinquencies or prepayments;
<br />(b) A stem equal to the ground rents, if any, next due, plus the premiums that will next become due and payable on
<br />polictes of fire and other hazard insurance covering the mortgaged property, plus taxes and assessments next due
<br />on the mortgaged property (all as estimated by the Mort;=~; e) less all sums already paid therefor divided by the
<br />numbs[ of months to elapr_ before ant month prior to the date when such ground rents, premiums, taxes and
<br />attxasments will become delinquent, such sums to be held by tvfortgagee in trust to pay said ground rents, pre-
<br />miums, taxes and special assessments; and
<br />(c) All payments mentioned in the two preceding subsections of this paragraph and all payments to be made 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 be a^plied by [he Mortgagee to the following items in the order set forth:
<br />(I) premium charges under the contract of insurance with the Secretary of Housing and Urban Development,
<br />or monthly charge fin lieu of rnongage insurance premiwrr/, as the case may be;
<br />(ll) ground rents- taxes, assessments, fire and other hazaul insurance premiums;
<br />(l(I) interest on the note secured hereby; and
<br />(IV) amortization of the principal of said note.
<br />Any deficiency in the amount of any such aggregate monthly payment shall, unless made good by the Mort-
<br />gagor prior to the due date of the next such payment, constitute an event of default under thu mortgage. The
<br />Mortgagce may collect a "late charge" not to exceed tin:r cents (4rt) for each dollar ($ I) of each payment more
<br />than lifteen (I S) days in arrears to cover the extra expense it:volved in handling delinquent payments.
<br />3. Thai if the total of the payments made by the \lortgagor under Ib) of paragraph L preceding shall exceed
<br />the amount of payments actually made by the Mortgagee for emund runts, taxes and assessments or insurance pro-
<br />mituns. anthe case may be, such excess, if the loan is current, at the option of the Mortgagor, shall be credited by
<br />the titortgagee on subsequent payments to be made by the '1'iorigagor. or refunded to the itortgagor. If, however, the
<br />monthly payments made by the Mortgagor under /8) of pazagraph 2 preceding shall not he sufficient to pay ground
<br />rent, taxes and assessments or insurance. premiums, as the rase may be. when the same shall become due and pay-
<br />able, then [he,lbrtgagor shall pay to the M1lortgagee any amount necessary to make up the deficiency, on or before
<br />the date when payment of such ground rents. tales, :use~smenls or insurance premiums sha!- be due- If at any
<br />time the Morigagor shall tender to the titortgagee, in accordance with the provisions of the note secured hereby,
<br />full, payment of the entire indebtedness represented thereby. the '1lortgngee shall, in computing the amount of such
<br />indebtedness, credit to the account of the Mortgagor all payments made under the provisions of (u1 of paragraph ?
<br />hereof which the 1brtgagee ha- out bt~c•ome nbligsted w pay to the Necretury~ of (lousing ..nd l rban Devclopmen[
<br />and any balance remaining in the funds accumulated under the provisions of (L) of paragraph 2 hereof. 1[ there
<br />shall be a default under any of the provisions of this mortgage rnsulting in a publit• sale nC the premises covered
<br />hereby, or if rho M1htrtgagee acyuires the property otherwise after default, the \k+rtgapurhall apply, :+t the time of
<br />the commencement of such proceedings, or ut the time the property i= otherwise :rcyuired, the balance then remain-
<br />ing in the funds uct•umulated under (b) of paragraph ° preceding, as a credit against the amount of principal (him
<br />remaining unpaid under said no[c, and shall properly adjust any payments which shall have been made mtder iul
<br />of paragraph '?,
<br />A. 't'hat the Mortgagor will pay ground rents. texts, assessments, w:+ter rates, and other goverentental ur municipal
<br />charges, fines: ur impositions, fur which provision has net bete made hereinbtturc, and in default thereof the Mortgagee mey
<br />pay the saint: and [hat the Mortgagor will promptly deliver the official receipts therefor it. the Mortgaget.
<br />i. The Murta~agor will t+aq all taxes which may bt levied upon the Mortgagee's interest in .std eta! estate and impeuvt-
<br />:ttents, and which may be Ievitd upon this mortgage ur the debt secured htttby that only to the exttn[ that such is not prahibit-
<br />td by law att.: only to the extent that such will not make this loan usuriuusJ, but excluding arty incemr t+x. State ur Fedtrul,
<br />imposed an Mortgaget, sad will file the ufliciaf receipt sh~+wing such payment with the Mortgagee. Upon vioi:uiun of this under-
<br />taking, ar if the Mortgagor is prohibited by any taw now or hereafter ~ xisting from paying the whatt or any portion of ttit afu[e-
<br />said taxes, or upon the rendering of any court Decree prohibiting the payment by the Mortgagor ur any such taxes, ur if such law
<br />or decree provides that any amount so paid M the Mongagur shall he credited on the mortgage debt, the Mortgaget shall have
<br />the right to give ninety days' written Hoax io the owner of the mortgaged premises, repairing the paymtnt of the mortgage
<br />debt. if such trotice be given, the said debt shall become Jue, payable and collectible :u the expiration of said ninety Jays.
<br />6. That should he [ail to pay any sum or keep any covenant provided for in this Mortgage, then the Mortgagte, m its op-
<br />tion, may pay or perform the saint, and all expenditures so made shall be added to the principal sum awing un the about note,
<br />shall bt secured hereby, and shall Ltear interest ut the rate set forth in the said nuts, until paid.
<br />7. That ht hereby assigns, transfers end sets over to the Mortgagte. to he applted toward the paymtnt of the note and all
<br />sums stcurtd hereby in case of a default in the performance of any of the ttrma and conditions of this Murtgagt ur the said
<br />Holt, all the rents, revenues anJ income to he derived from the mortgaged premises during such time as the mortgage indtbted•
<br />n_es shall remain unpaid; and the Mortgaget shall have puwtr lu appoint any agent ur agents it may dtsirc for the purpust of
<br />repairing said prcmists and of renting the saint and collecting the rents, rtvtnurs and income, and it may pay out of said in-
<br />urmes all txptnsts u! repairing said premises and necessary commissions and txptnses incurred in renting anJ managing the
<br />same and of atUecting rentals therefrom: the balance remaining, it any, n+ ht applied toward the discharge of said mortgage
<br />intlobttdncss,
<br />8. 'That he will keep the improvements now existing or hereafter erected on the mortgaged property, insured as may be
<br />rtyuued from time to time by the Mortgagee against loss by tin and other huutrds, casualties and contirtgrncies in such
<br />amtruttt and for such ptried-s s+s may bt reyuirtd by the Mortgagee sad will Pay proumptfy, when dot.: ny premiums i+n ?uch
<br />insurance provision for paymtnt of which has rte[ bete made htrrinbeture.:111 insurance shall hr i:uried m companies ap-
<br />pzovtd by the Mungtgee nhd iht policies and renewals thereof shad 1x held by the Mortgagte and have ati-rchtd therttu loss
<br />payable clauses in favor of and inform acceptable to the Mortgagee. In event of loss Mortgagor will give inrmtdiatt notice by
<br />mail iu the Mortgaget, wl[o may make proof of loss if nut made promptly by Mortgagor, and each insurance company uut-
<br />cerntd is hereby authorized and directed w make payment for such loss directly to the Mortgaget instead of to the Mortgagor
<br />and the Mortgagee jointly, and Iht insurance pructeds, or any' par[ thtreuf, may he applied by the Mortgagte ut its option tether
<br />. to the redactida of the indebtedness hereby stcurtd or ut the restoration or repair of the property daruagtd. In event of torechr
<br />sure bf this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby,
<br />elf right, title anti in[ercst of the Mortgagor in and to any insurance policies then in turd shall pass to the purchaser ur granter.
<br />9. Tttat as additional and eollaieral security for the paymtm oC the note described. and :dt sums ti. become due under thin
<br />murtgagt, the Mortgagor hereby assigns h> the Mortgagee all profits, revenues, royalties, rights anJ benefits accruing [u the
<br />Mortgagor under any and all oil and ga. Rases un seed premises, with the right to rteeise and rcetipt fur the seers and apply
<br />them to said indebttdntss us well htf+ut as after default in the conditions of (his nwrtgage, :utd the Mortgagte may demand. sue
<br />fur sad recover any =,to:h payments when dot and pttyahle, but shall eat he rtyuited so m do. This asaigumtnt +s to trnninate
<br />and hee,rme aua and veld aapi.n teltase <,o this martgt+gt:.
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