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2� 1 ��435 �c� Borr�wer shal� deposit w�th Lend�r- any other amounts as may he rec�u�red by. an� A�ci�lary Agreement ar�d shall perform a�l oth�r ob�igations of Borrovv�r u�c�er each Anc��ary Agre�ment. Anci��ary Agr�eme�t de�osits shal�be heid in ara.institution �which may be Lender, if Lender is such an institution} whose depasits ar accounts are �nsured�r guaranteed by a federal agency and in accordance with Program �bligat�ons. 8. IMP�SITIUN DEP��ITS. � (a} In the event Borrower or�perato�r fails to pay any sums pravided fo�in th�s Security Instrument, Lender, at its aption, may pay the same. Any excess funds a�cumu�ated under Section 7(a} r�maxning after payment of t�e items therein mentioned, shal� be cred�ted to subsequ�nt month�y payments �f the same nature required thereunder; but if any such item shall exceed the estimate therefore, or if Borro�wer�r �perator shall fa�l to pay any other governmental or municipa� charge, B�rrawer sha�I forthwith, ar shall �ause �perat�r to forthvvith, make gaod the deficiency�r pay the chaxge befare the same become delinquent or subj ect to interest�r penalt�es and in defau�t there�f Lender may pay the sam�. Al� sums paid or advanced by Lend�r and any sums which Lender may be requir�d to advan�e to pay martgage insurance premiums shall be added to the Indebtedness and shall bear�nterest fr�m the date of payment at the rate specif ed ir�the N�te and shal� be due and payable an demand. In case of termination of the Contract af Ir�surance by prepayment af the Indebtedness in fu�l or�therwise �except as hereinafter provided�, accumulations under Sectian 7�a� not required ta pay sums due under Secti�n 7�a}�3� shal� be cr�dited to Borrovver. If the Mortgaged Praperty �s sald under foreclosure or is otherwise acquired by Lender after ar�Event �f Defau�t, any remaining balance of the accumulations under Section 7�a} shall be credited to the princxpal under the Nate as af the dat� �f the cammencement of forec�osure proceed�ngs or as �f the date the Mortgaged Property is �therwise acquired; and accumulations under Section 7 sha�� be likewise credited unl�ss required to pay sums due HUI] under S ection 7�a}�3�. The amounts deposit�d under S ect�on 7 and Section $ ar� col�ectively referred to in this Security Instrument as the "Impositian Deposits". The ob�igations of Borrawer for which th� Imp�sition TJepos�ts are r�quired are collectively referr�d to �n this Security Instrument as "Impasitions". The amount of the Imp�s�ti�n Dep�s�ts shall be sufficient t� enab�e L�nder to pay applicab�e Impositions befare the last date upon which such payment may be made without any penalty�r interest�harge being added. Lender sha1� maintain records indicating how much�f the monthly Impasition Depos�ts and h�w much of the aggregate Imposition Depos�ts he�d by Lender are held for the purpose �f paying Taxes, insurance prern�ums and each other obligatian of Borrower far which Imposition Depasits are requ�r�d. Any Wai�er by Lender of the requirement that Borrower remit Imposition I]epasits to Lender may be rev�ked by Lender, in Lender's d�scretion, at any t�me upon Notice to B�rrower. �b} Imposit�on I]eposits shall be he�d in accaunts insured ar guaranteed by a federal agency and in accordance with Program �bligations. Lender sha11 app�y the Impasition Depasits to pay Impasitians so long as no Event of Defau�t has occurred ar�d is cantinuing. Un�ess required by Pragram �b�igations, Lend�r shall not b�required to pay Borrower any interest, earnings or pr�fits on the Imposition D�posits with the e�ception af the reserve for replacements account or Res�dual Receipts account �if any}. Borrower hereby p�edges and grants t� Lender a Previous�ersions o�solete Page �8 form H UD-94��U-�RCF {�612�14}