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88-103562 (a) A sum equal to the ground rents, if any, next due, plus the premiums that will next become due and pay$,le'on policies of fire and other hazard insurance covering the property, plus taxes and assessments next due on the property (all as estitllQted by the Lender) less all sums already paid therefor divided by the number of months to elapse before one (l) month prior;to the date.when such ground rents, premiums, taxes and assessments will become delinquent, such sums to be held by, Len4er i/),trust; ,to pay ,said grOUtllf'tents. premiums, taxes and special assessments; ,and {nground rents;taxe&, assessments, fire and l)ther hazard insurance premiums; ? \1 ;: " Ii ~ j 1 'I ii ,1 ~ ~' " (b) All payments mentioced in the preceding subsection of this pslragraph and all payments to tie made under the note secured;hereby,$haI1 be'added,togelher, and the aggregate amount thereof shall be paid by the Borrower each month in a single paymenuo be appl,ied by the Le~der,to the following items in the on~er set forth: (U) interest, on the note secured hereby; and (Ill) amortization of the principal of said note. Any deficiency in the amount of such aggregate monthly payment shall, unless made good, by lhe Borrower prior to the due date of the next such payment, constitute an event of default under this mortgage. The Lender may collect a "late charge" not to'exceed four cents (4C) for each dollar ($1) of each payment more than fifteen (15) days in arrears to cover the extra expense involved in handling delinquent payments. 3. That if the total of the payments made by the Borrower under (a) of paragraph 2 preceding shall exceed the amount of payments actually made by the Lender for ground rents, taxes and assessments or insurance premiums, as the case may be, such excess, if the loan is current, at the option of the Borrower. shall be credited by the Lender on subsequent payments to be made by the Borrower, or refunded to the Borrower, If, however, the monthly payments made by the Borrower under (a) of paragraph 2 preceding shall not be sufficient to pay ground rents. taxes and assessments or insurance premiums, as the case may be, when the same shall become due and payable, then the Borrower shall pay to the Lender any amount necessary to make up the deficiency. on or before the date when payment of such ground rents, taxes, assessments, or insurance premiwns shall be due. If at any time the Borrower shall tender to the Lender, in accordance with the provisions of the note secured hereby, full payment of the entire indebtedness represented thereby. the Lender shall, in computing the amount of such in- debtedness. credit to the account of the Borrower any balance remaiDing in the funds accumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a default under any of the provisions of this instrument resulting in a public sale of the premises covered hereby. or if the Lender acquires the property otherwise after default, the Lender shall apply. at the time of the commencement of such proceedings, or at the time the property is otherwise acquired, the balance then re- maining in the funds accumulated under (a) of paragraph 2 preceding, as a credit against the amoUlit of principal then remain- ing unpaid under said note. 4. That the Borrower will pay ground rents. taxes, assessments, water rates, and other governmental or municipal charges. fines, or impositions, for which provision has not been made hereinbefore. and in default thereof the Lender may pay the same; and that the Borrower will promptly deliver the official receipts therefor to the Lender. 5. The Borrower will pay all taxes which may he levied upon the Lender's interest in said real estate and improvements. and which may be levied upon this instrument or the debt secured hereby (but only to the extent that such is not prohibited by law and only to the extent that such will not make this loan usurious). but excluding any income tax. State or Federal. imposed on Lender. and willlile the official receipt showing such payment with the Lender. Upon violation of this undertak- ing, or if the Borrower is prohibited by any law now or hereafter existing from paying the whole or any portion of the aforesaid taxes. or upon the rendering of any court decree prohibiting the payment by the Borrower of any such taxes, or is such law or decree provides that any amount so paid by the Borrower shall be credited on the debt. the Lender shall have the right to give ninely days' wrinen notice to the owner of the premises. requiring the payment.of the debt. If such notice be given. the said debt shall become due. payable and collectible at the expriation of said ninety days, 6. That should the Borrower fail to pay any sum or keep any covenant provided for in this instrument. then the Lender. at its option. may payor perform the same. and all cllpendilures so made shall be added to the principal sum owing on the above note. shall be secured hereby. and shall bear interest al the rale set forth in the said note. until paid, 7. That the Borrower hereby assigns. trdtlsfers and sets over to the Lender. to be applied toward the payment of the note and all sums secured hereby in case of a default in the performance of any of the terms and conditions of this instrument or the said note. all the rents, revenues and income to be derived from the said premises during such time as the indebtedness shall remain unpaid, and the Lender shall have power l,O appoint any agent or agcnts it may desire for the purpose of repairing said premises and of renting the same and collecting the rents. revenues and income. and it may payout of said incomes all expcmes of repairing said premises and necessary commissions and expenses incurred in renting and managing the same and of collecting rentals therefrom; the balance remaining. if any'. to be applied toward the discharge of said indebtedness. u B. That the Borrower will keep the improvements now existing or hereafter erected on the property, insured as may be required from time, to time by the Under against loss by fire and other hazards, casualties and contingencies in such amounts and for such periods u may be required by the Lender. and will pay promptl)'. when due. any premiums on such insu~ provision for payment of which ha.\ not been made hereinbefore. All insurance shall be carried in companies ap. proved b,)' the Lender and the policies and renewals thereof shall be held by the Lender and have attached therelo loss payable claUlC:1 in favor of and in form acceptable to the Lender, In event of loss Borrower will give immediate notice by mail to thel..ender ,who maY make proof ofloss if not made promptly by Borrower, and each insurance company concerned is hcreby authorized and direded to make payment for such loss directly to the Lender instead of to the Bormwer and the Lender . joindy, and the inluiance proceedI, or any part thereof, may be applied by me Lender at ils option either to the reduclion of the indebtednen hereby secured or to the restoration or repair of the property damaged, In e\'enl of foredosure of this instrument or other transfer of title to the mortgaged pmperty in extinguishment of the indebtedness secured hereby, all rlghl. title and interest of the Borrower in and to allY insurance policies then in force shall pass to the purcha.>;c1' or granlee 9. Thai as additionallllld collateral MlCurity for the paymen! of the note de.crihcd. ,10<1 all sums 10 bC':llIlle due ulllkl' thi. iMtrumcnl, lhe Borrower hereby Wl\ign. to the Lender all Pfllfits. revcnues. myalties, rI!lII1' nnd bene lit, 1,..,'nllng tll die 8IlffOYo'eI under any and all oil and g1L~ IealOCl (m follid premilC.\, with m..-, ri!lhl In "cn:I\'e and receipt fi\r the '3111e IIn,1 ".201'--.---------------'------- F.,..m H'LiD-9i, .~.of Rio. viii! all'"