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~atiafactory to t~e Mortgagee, ahall be delivered promptly to tbe Mort-
gagee. Tbe Mortgagor will pay prompt~y wben due, as bereina~ter pro-
vided, any snd all premium~ on such inaurance, and in every ca$e in wbicb
payment tbereo~ ia not made from the deposits therefar required by tbia
Mortgage, promptly aubmit to the Mortgagee Yor examination receipts or
ot~er evidence of such payment ae sball be satiefactory to the Mortgagee..
The Mortgagee may obtain and pay the premium on (but aball be under no .
obligation~to do ao) ever~ kind of insurance required bereby if the amount
of aucb premium ha8 ~ot been depoeited as required by thie Mortgage, in
whicb event the Mortgagor will pay to tbe Mortga~ee every premium ~o paid
by the Mortgagee.
~(b) In the event of loss or damage to tbe mortgaged property, -
the-Mortgagor wfll give to tbe Mortgagee immediate notice thereof by
mail, and the Mortga~ee may make and file proof o~ loss if not made otber- •
wise promptly by or on bebalf of the Mortgagor. Tach ineurance eompany
issuing any sucb policy is bereby autborized snd directed to make payment
thzreunder for sucb loss to the Mortgagor and tbe Mortgagee jointly, un-
lese ~be amount o~_losa ia~pa~able firat to the bolder o~ a lien under a
mortgage or similar instrument to wbicb tbia Mortgage is axpressly sub~ect;~
and tbe insurance proceeds or~any part tbereof if received by tbe Mortgagee
ma~ be applied b~ tbe Mortgagee, at ita aption, eitber in reduction of the
indebtedneas Hereby secured, or to tbe restoration.or repair af tbe mort-
ga~ed property damaged. In tbe event of foreclosure of tbis Martgage, or'~
of an~ transYer o~ title to the mortgaged propertq in extinguishment of
such indebted~esa, all rigbt, title and interest of tbe Mortgagor in and to
every such insurance polic~ tben in force,-sub~ect to tbe rigbts and inter-
es~9 of the holder of an9 sucb prior lien, ehall pa9s to the grantee ac- ~
quiri~g title to the mortgaged propexty togetber•with eucb policy and
~ appropriate assignment of such rigbt, title and interest which ahall be
~ made by thQ Mortgagor.
~ (a) In order more ~ully to protect tbe security ot thie Mortgage,
the Mortgagor shall depoeit witb the Mortga,gee togetber with, and in addi-~
~ion to, tBe payment ot grincipal and interest-montbl~ on account of the
Yote aecured bereby, until the Note ie paid in full, a~ amount of money
equal to the total amount of (i) ground rents, if any, nezt becoming due,
(ii) the premiums negt becaming due on the policies o~ fire and all otber
~azard insurance required by thia lKortgage with respect to tbe mortgaged
propertq, (iii) taxes, asaeesments, watex rates and otber governmental
charges next becoming due on the mortgaged property (all tbe foregoing
am~unts as estimated by tbe Mortgagee and ~et fortb in a written notice
- af e~ch estimate b~ tbe Mortgagee to tbe Mortgagor grom time to time),
less all amounta tbat may already llave been paid thereYor, divided by tbe ~
number of calendar months to elapae be~ore one calendar montb prior to the ~
date when sucb ground rente, prEmiume, taxee, assesaments, water rates and -
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cther governmental cbargea, reapectively, will become due and payable. ~
If any ~anount referred to in claueee (i) t2~rou~h ~(iii) bereof is required ~O
to be deposited by the Mortgagor under a mortgage or aimilar instrument ~
~
'~aving priority over tbe lien of t~is Mortgage, tbe Mortgagor eball~make oo.;
the deposits required by tbis Paragrapb 7 only in tbe event oY tbe ter-
mination o~ auoh obligation under ttse prior mortgage or similar inetrument.
Tbe Mortgagor aball give prompt notice in writiDg to tbe Mortgagee of the-
occurrence o~ tYe last mentioned event. All sueb amounta 9o deposited
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