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��14��133 16. TA�ES; �PERATING EXPENSES. �a} Subj�ct to the pro�isions of Secti�n ��c� and Sectian �6(d�, Barrawer shall pay, or cause to be paid, al� Taxes when due and before the addition of any interest, fne,penalty or cost for nonpayment. �b� Subject to th�pr�visions�f Secti�n 1��c}, Borrow�r sha�l pay, or cause to be paid,the expenses�f�perating, managing, maintaining and repairing the Mortgaged Pr�per�y �including insurance premiums, uti lities, repairs and repiacements�before the last date upon which each such payment may be made withaut any pet�alty or interest charge being added. �c} As long as no Event af Default e�ists and Barrower has timely delivered ta Lender any bills or premium natice that it has recei�ed, Borrawer shall not be obligated to pay Taxes, insurance premiums or any ather individual �mposition ta the extent that sufficient Imposition Deposits are held by Lender for the purpose of paying that specifi� Imposition. If an E�ent of Default exists, Lender may exercise any rights Lender may ha�e with resp�ct to Impositi�n Dep�sits without regard tn whether Irnpositions are then due and payable; provided that so long as the Loan is insured by HLJD, Lender's exercise of its rights shall be subject to Program �bligations pertaining to claims for martgage insurance benefits. Lender shall ha�e no liabiiity to Borrower for failing to pay any Impositions to the extent that any E�ent of Default has occurred and is continuing, insufficient Imposition I]eposits are held by Lender at the time an Imposition becames due and payab�e or Borrower has failed to pr��ide Lender with bills and premium notice as pro�ided abo�e. �d} Borrower, at its own expense, and, so �ong as the Loan is insured or held by HUD, in accordan�e with the Borrower's Regulatory Agreement, may contest by appropriate legal proceedings, conducted diligently and in good faith, the amount or�alidity of any Imp�sition other�han insurance premiums, if��) Borr�wer notifes Lender of the�ammencement or expected commencement of su�h proceedings, �2�the Mortgaged Property is not in danger af being sold ar forfeited, �3� Borrawer deposits with Lender reserves suffic�ent to pay the contested Imposition, if requested by Lende�, and �4} Borrower furnishes what�ver additional security is reyuired in the proceedings or is reasonably re�uested by Lender, which may include the deli�ery to Lender of the reserves established by Borrower to pay the cont�sted Impasiti�n. �e} Barrower sha�1 promptly del i�er to Lender a copy of al1 Notic�s of, and in�o ices for, Impositior�s, and if Borrower pays any Imposition d�rectly, Borrower shall promptly furnish to Lender receipts e�idenc�ng such payments. 17. LIENS; EN�iTMSRAN�ES. �a} Borr�wer shall not perm�t the grant, creat�on or existenc�of any mortgage, deed of trust, deed to secure debt, security deed, security interest ar other lien or encum�rance �"Lien"} on the Mortgaged Property(other than the lien of this Security Instrument, any tax liens which are irnposed before payment is due,or any subordinate liens which are approved by HUD and Lender�,whether�oluntary, in�oluntary ar by operatian of Iaw, and whether or not such Lien has pri�rity o�er the lien of th�s Security Instrument. Pre�ious�ersions absolete Page Z'I of 40 form HLID-94��-�RCF�Re�.�31'13}