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satisfactory to the Mortgagee, sball be delivered promptly ta the Mort-
gagee. The Mortgagor will pay promptly when due, ae hereinafter pro-
vided, a~y and all premiume on sucb insurance, and in every caae in wbiab
payment tbereof ia not made from the deposita tberefor required by tb~fe
Mortgage, promptly submit to the Mortgagee for examinatiob receipte or
other evidence of such payment a~ aball be satisfactory to the Mortgagee.
The Mortgagee may obtain a~d pay the premfum on (but shall be under no
obligation to do so) every kind of insurance required hereby if tbe amount
of euch premium bas not been depoeited as requir4d by this Mortgage, in
which event the Mortgagor will pay to tbe Mortgagee every premium eo paid
by tbe Mor~gagee. ~
(b) In tbe event o~ losa or damage to tbe mortgaged property,
the Mortgagor will give to tbe Mortgagee immediate ~otice tbereof by
mail, and tbe Mo~tgagee may make and file proof.of lo~s if not ~~de otber-
wise promptly by or on bebalf of.tbe l~ortgagor. Tacb insurance ~ompany '
issuing any sucb policy is hereby sut~orized aud directed to make payment
thereunder for sucb losa to tbe Martgagor and tbe Mortgagee jointly, un-
lesa tbe amount of losa ie payable firat to tbe bolder of a lien under a -
mortgage or similar instrument to wbicb this Mortgage ia expreaely sub3ect;
and the insurance proceeds or any part tbereo~ if received by the Mortgagee
may be applied by tbe Mortgagee, at ite uption, eitber in reduction of tbe
indebtedness hereby eecured, or to tbe reatoration or repair o~ the mort-
gaged property damaged. In tbe event of Yorecl osure oY this Mortgage, or - ~
of any transYer ot title to the mortgaged propert~ in egtin~uishment of
sucb indebtedneae, all rigbt, title and intereat ot tbe Mortgagor in and to
, every aucb ineurance policy then in force, eub~ect to tbe rigbta and inter-
esta of tbe holder o~ any euch prior lien, aball~pase to tbe grantee ac-
quiring title to tbe mortgaged property together witb eucb policy and-
appropriate assignment of aucb rigbt, title ana interest wbicb sball be
- made by the Mortgagor. ~
7. (a) In order more tully to grotect tbe se~urity o~ thie_Mortgage,
the Mortgagor ehall depoait witb the Mortgagee togetber witb, and in addi-
tion to, tbe pagmen~f principal and interest-monthly on accaunt of tbe
Note secured hereby, until tbe Note ia paid in full, an_amount of money •
equal to.tbe total amount of (i) ground rents, iY sny, next becoming-due,
(ii) tbe premiums next becoming due on the policiee o~ fire and all otber
hazard insurance required by tbis Mortgage witb reapect to the mortgaged
propert~, (ifi) taxes, aesesementa, water ratee and otber governmental
chargea next becoming due on tbe mortgaged property (all the Yaregoi~g
amounts as estimated bq tbe Mortgagee and aet fortb in a written notice ~
~ o~ sucb estimate by tbe Mortgagee to tbe Mortgagor from time to time),
less all amounts tbat may already'}iave been~paid tberefor, divided by tbe
number of calendar montb~ to elap8e before one calendar montb p~for to the,~~
date when sucb grAUnd rente, premiume, taxee, aeeeasmente, water rate8 anc~'°'
s .
other governmental cbargea, respectively, will become due an3 payable.
I~ any amount referred to in clauees (i) tbrougb (iii) bereo~ is required
to be d~poaited by tbe Moxtgagor under a mortgage or similar inetrument
'~aving priority over the lien o~ tbie Mortgage, the Mortgagor eball make
the deposits required by tbie Paragrapb 7 only in tbe event oY tbe ter-
minatio~ of suoh obligation under the prior mortgage or similar instrument.
Tbe Mortgagor sb~ll give prompt notice in writing to tbe M~rtgagee of tbe
occurrence oQ th~ laet meut~~~ed event. All eueb amounte so de~osited
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