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Borrower and Lender covenant and agree as rollows: I, That Borrower will pay the indebtedness, as hereinbefore provided. Privilege is reserved to pay the debt in whole or in part on any instaDmcm due date_ 2. That, together with. and in addition to, the monthly payments of principal and interest payable under the terms of the note secured hereby, the Borrower will pay to the Lender. on the first day of each month until the said note is fully paid, Ihe following sums: (a) A sum equal to the ground rents. if any, next due, plus the premiums thai will next become due and payable on policies of fire and other hazard insurance covering the propeny, plus taxes and assessmenls next due on the property (all as estimated by the Lender) less all sums already paid therefor divided by the number of month!; to elapse before one (1) month prior 10 lhe date when such ground rents, premiums. laxes and assessments will become delinquent, such sums to be held by Lender in lrust to pay said ground rents, premiums, taxes and special assessments; and (b) All payments mentioned in Ihe preceding subsection of this paragraph and all payments to be made under the nole secured hereby shall be added together. and Ihe aggregate amount lhereof shall be paid by the Borrower each mOOlh in l.1 single payment to be applied by the Lender to Ihe following items in the order set fonh: (1) ground rents. laxes, assessments, fire and orher hnz.a.rd insurance premiums; (II) interest on the note secured hereby; (Ill) amortization of the principal of said nole; and (IV) lale charges. Any deficiency in Ihe amount of such aggregate monthly payment shall, unless made I;sood by Ihe Borrower prior 10 the due date of Ihe next such payment. constitute an evenl of default under this mortgage, The Lender may collect a "late charge" not 10 exceed four cenlS (4~) for each dolla,' (51) of each payment more than fifleen (15) days In arrears 10 COVer the eXlra expense involved in handling delinquent payments. 3. ThaI if the total of the payments made by Ibe Borrower under (a) of paragraph 2 preceding shall exceed Ihe 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 t shaD be credited by the Lender on subsequent payments 10 be made by the Borrower. or refunded 10 the Borrower. If. however. the montbly payments made by tbe Borrower under (a) of paragraph 2 preceding sball not be sulOclenl to pay ground renlS. taxes and assessmenlS or insurance premiums, as the case may be. when the same shall become due and payable, then the Borrower shall pay 10 the Lender any amount ncccuary to make up the deficiency. on or before the date when payment of such ground rents. taxest assessmentst or insurance premiums sbaD be due. If at any time the Borrower shall tender to the Lender. in accordance with the provisions of the note secured hereby. futl payment of the entire indebtedness represented therebYt the Lender shall, in computing the amount of such indebtednesst crcdit to the account of the Borrower any balance remaining in the funds accumulated under Ibe provisions of (a) of paragropb 2 bereof. If there sball bC a derault under any of the provisions of this instrument resulting in a public sale of the premises covered her~by, or if the Lender 88- 10444"7 acquires the property otherwise after default. Ihe Lender shall apply. at the time of the commencement of such proceedings, or at the time the property is otherwise acquired, the balance then remaining in the funds accumulated under (a) of paragraph 2 preceding, as a credit against the amount of principal then remaining unpaid under said note, 4. That the Borrower wiIJ pay ground r~nts. taxes, assessments. water rates, and other governmental or municipal charges, fines, or impositions. for which provision has nol been made hereinbefore. and in default thereof the Lender may pay the same; and that the Borrower wiIJ promptly deliver the official receipts therefor 10 the Lender. 5. The Borrower will pay all taxes which may be 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 10 Ihe c::-ac:nt that such will not make this loan usurious), but excluding any income tax~ State or Federal, imposed on Lender, and will file the official receipt showing such payment with the Lender. Upon violation of this undertaking. or if Ihe Borrower is prohibited by any law now or hereafter exisling from paying the whule or any ponion of the aforesaid taxes. or upon the rendering of any COlln decree prohibhing the payment by the Borrower of any such taxes. or if such law or decree provides that any Ilmount so paid b)' the Borrower shall be credited on the debt~ the Lender shall hB,.e (he right to give ninety days' written notice to the owner of the premises. requiring the pnyment of the debt. If such nmice bC' given. Ihe said debt shall become due. payable and collectible at Ihe expiration of said ninelY days, 6, Thai should the Borrower fail to pay any sum or kc:ep an)' covenant provided for in [his instrument~ then the Lender. at Its option, may payor perfonn the same, and all expenditures !to made shall be added to the principal sum owing on the said nme. shall be s.ecured hereby. and sball bear intcral ou the ralC s.et forth in the said note~ until paid. 7, That the Borrower hercby assigns. Iransfca Bnd !tel\ O\.Cf to the !.ender. 10 be applied loward .he paymenl of the note and all sums secured hereby in case of a default in the perfonnance of any of the terms Bnd conditiom of this instrument or the said note. all the rents. re\'enucs and income to be derived from the said premis~ during such time as the indebtedness shall remain unpaid, and Iht Lend~r !thaU ha\'c power to appoint any agent or agents il may desire for the purpose of repairing said premises and of renting the same and collecting the rents. revenues and income. and it may pay OUl of said incomes all expenses of repaiting said premises and nccessllr)' commissions and eJipalses incurred in rentmg and managing lhe !lame and of collecting rentals Iherefrom; the balance remaining. if nny, 10 be applied to"'ard the discharge of said indebtedness, 8. That the Borrower will keep Ihe impro\'emcnls no\\' existing or hereafter ertcted on the propenYl insured D.!i may be required from time 10 time by the Lender against loss by fire and other hazards. casualties and contingencies in such amounts and for such periods as may be required by the Lender and will pay promptly, when due. any premiums on such insurance, provision for payment of which has not been made hereinbefore. All insurance shall be carried in companies approved by the Lender and the policies and renewals thereof sball be beld by tbe Lender aod have attached Ibereto loss payable clauses in favor of and in form acceptable 10 the ~ J Page 2 of 5 HUO.921430T-l