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88- 105332 Borrow.r and Land.r cov.nant and agr.. .s !ollows: 1. That Borrower will pay tho Indebtodnasl!I. as herelnbeforo pro. vldDd. PrtvDoge ts reserved 10 paV tho debt In whole or In par1 on any Inslallmonl due dale. 2, Thlt. together with. and In addillon la, the monthly payments 01 princIpaJ and Intern' payable under the terms of the nole secured hereby. the Borrower will pay 10 tho Lender. on the first day of each month unlll tho saki nole Is fuUy paid. the following sums: (a) A sum equaf to the ground rents, If any, next due. plus the prcmlums thai wlI next become due and payable on policies of fire snd other hazard Insurance covering the property. plus taxes and assessment! next due on the property (aU as estimated by the lender) less III sums already paid therefor divided by the number of months to elapse before one (1) month prior to the dale when such ground rents, premiums, taxes and assessment! will become deinquenl. such sums to be held by Lender In trust 10 pay said ground rents, premiums, taxes and apeclal lissessments; and (b) AI paymenls ml!lrltloned In the preceding subsection of this paragraph and aft paymenls 10 be mlIde under the nole secured here- by ahan be added logether, and the aggregate amounl Ihereof shall be paid by the Borrower each monlh In a single payment to be applied by Ihe Lender to the lollowing items in lhe order sel forth' (I) ground renls. taxes. assessmenls, fire and olher hazard insurance premiums: (III Interest on the note secured hereby: (llI) amortization of the principal of said note; and (IV) Iale charges, Any deficiency In the amount of such aggr"Ollfe monthly paymenl shal, unler;s made good by the BOfT'OWI!lf' prior 10 the due dale of Ihe neld such payment. constitute an IN,,"t of deI.utl under this mortgllge. The Lender fTlIIY collect. "&ate charge" not to exceed four cents (4c) for ..ch dollar ($1) of each payment more than fifteen (15) daV5 In arrears to cover the extra expenee Invotved In handling delinquent payments, 4. That tho Borrower wUl pay ground rents, 10015, assossmenls, waler rales, and other governmenlal or municipal ct';~rDes, flnes, or imposlUons, lor which provision has not been made hereinbefore, and In defaullthereof the Lender may pay the same; and that tho Borrower wlll promptly deliver the officlal receipts therefor 10 tho Lender. 5. The Borrower will pay all taxes which may be levIed upon the Lender's Imorest In said real estato and improvements, and which may be levied upor. thIs lnstrument or Ihe dabt secured hereby (bul only to the exIent that auch la not prohlblled by law and onty to the extenl thai auch wlll nol make this loan usurious), bul excluding any Income tax, Stale or Federal, Imposed on Lender, and will file the omcJal recelpt showing such payment whh the Lender. Upon vlo&atlon 01 thla under- taking, or" the Borrower Is prohibited by any law now or hereafter existing from paying the whole or any portion of the aforesaid 1axes, or upon the rendering of any court decree prohlbttlng the payment by the Borrower of any such taxes, or if such law or decree provide;) that any amounl so paid by the Bc"ITower shmn be credited on the debt, lhe Lender shall have the right to give ninety days' wrtIten notice to lhe owner of Ihe premises. requiring the payment of the debt. If such notice be given, the said debt shall become due, payable and collect. ible at the expiration of said ninety days. 6. That should the Borrower fail to pay any sum or keep eny covenant provided lor In this Instrument, then the Lender, at Its option, may paVor perform Ihe same. and all expendllures so made shall be added 10 the prinCipal sum o'o"lng on the said nole, shall be secured hereby, and shall beaf Interest at the rate set forth In the said nole. untn paid. 7. That the Borrower hereby assigns, transfers and sets over to the Lender, to be applied toward the payment of the nole and all sums secured hereby in case of a delautl In the per10rmance of any of the terms and conditions of this instrument or the sald note, all the rents. revenues and Income 10 be derived fro", the said prt!rTMses during such time ell the indebtedness ehaD remain unpaid. and the lender shall have power to appoint any agent or agents 11 rr.ay desire for the pur. pose of repairing said premises and of renting the same and collecting the renls, revenues and Income. and It may pay out of &aid incomes aU expenses 01 repairing Aid premises and necessary commissions and expenses Incurred In renting and maneglng the same and of collecting rentals Ihef'efrom: the balance remainIng, "any. to be applied toward the discharge 01 said indebtedneas. 3. That" the tor.! of the payments made by Ihe Borrower under (a) of paragraph 2 preceding shd exceed the amounl of ~yments actually made by the lender for ground renls, taxes Ilnd auessment:s or insurance prerrJiuRlS, as lhe case may be, such BllCeSS. If the loan Is Q.l1Tent, al the opUon of the BOfTower. shaJI be c:ntdlted by the 8. That the Borrower wiD keep the Improvements now existing or Lender on aubsequent payments to be made by the BDITOwer, or hereeher erected on the property, Insured as may be required from refunded to the Borrower. If. however, the monlhly payments made time 10 time by Ihe lender agalns1 loss by rJl'tt and othl!tf' hlllArds, by the Borrower under (a) 01 paragraph 2 pr-ecedflg shal not be casuahies and contingencles In such amounts and for such perloda as sufllcienl to pay ground rents, taxes .nd assessments or insurance may be required by the lender and will pay promptly, when due. any prernkJms, as Ihe case may be, when the same shd become due and premluma on lIuch insurance, provision for paymenl of which has n01 P8Y11ble, then the Borrower shal pay 10 lhe Lender any amounl been made hereinbefore. All Insurance shall be carried In companies necessary to make up the deficiency, on or before the dale when approved by the Lender and the poUcin and renewals thereof shall be payment of such ground rents, taxes, assessments, or ml5uru.nce pre- held by the Lender and have attached thereto loss payable clauses In m1ums shaD be due. If at any time the Borrower shaD tender to the favor 01 and In form acceplelble to the Lender. In tWent of loss Lender. In accordance with !he provisions 01 the note secured hereby, Borrower wiD give immediate notice by mall 10 the Lender. who may tuD payment of the entiro Indebtedness represented thereby. the Lender make proof 01 loss "nol made promptly by Borrower, and each shal, In computing !he amount of such indebtedness, credil 10 Ihe Insurance company concerned is hereby authorized and directed to account of the Borrower any balance romalnlng in the funds aCOJm- make paymenl for such lass directly 10 the Lender InstMd of to the ulsted under the provisions of (.) of paragraph 2 hereof. If there shall BonowOf Bnd the Lender Jointly, and the insurance proceeds, or anV be a defautl under any of the provisions of this instrument resulting In part thereof, may be applled by the Lender at Its option either to the a pubUc sale of the premises covered hereby, or If the Lender ac. reduction of the Indebtedness hereby secured or to the restoration or quires the property otherwise <<her default. the Lender shall apply, at repair of the property damaged. In event of foreclosure of this Inslru. the time ollhe commencement of such proccedln~. or al the time menl or 01 her transfer 01 Iille to the mortgaged property in extinguish. the projlerty Is otherwise acquired, the balance then remaining in the menl 01 Ihe indebtedness secured hereby, all right. tJtle and Interest funds aCOJmulated under (8) of pIIrtlgraph 2 preceding, as a credit 01 Ihe Borrower in and 10 any insurance policies then in lorce shall against the amOU:lt of principal then remaining unpaid under said note pass to the purchaser or grantee. F.3l3CT!106!Be) HUD.92143.0T PIlQe 2 01 ~