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88_105339 Borrower and lender covenant and agree 8S follows: 1. That Borrower will pay \ho Indebtedness, os hereinbefore pro. vlded. Privnagl!t Is IlI'sorved to pay Ihl) dohl In wholo or In part on any lnatallmSlt due date. 2. That. together wtth, and in addlllon to, the monthly payments of principal and interest payable under the terms 01 the note secured hereby. the Borrower wiI pay to the Lender. on the first day of each month untl the said nale Is fully paid. the fonowlng sums: <a) A sum equal 10 the ground rents, II any. next dUB. plus the premiums thlt will next become duo and payable on paRoles of fire and other h~ insurance covering the property. plus wes and assessments next due on the property (all as estimated by the Lender) less all sums already paid therefor divided by the number of months to elapse before one (1) month prior to the dale when auch ground rents, premiums. lues Bnd assesaments will become delinquent, such sums 10 be held by lender In trust to pay said iJround rents. premiums. toes and special assessmenls; and (h) AD paymenUl mentioned In the preceding subsection 01 this patagTllph and all payments to be made under the note secured here- by shaD be added together. and the aggregate amount lhereof shall be paid by the Borrower each month In a sIngle payment to be appUed by lhe lender 10 the rollowlng lIems in the order sel lorth: (I) ground rents. tbOS. assessments. fire and olher hazard Insurance prerntums; (II) Inl..t on tho nolo secured herebV: (Ill) amorttzation of the pr1nclpll 01 said nole: and (IV) 101. chUll'" Any deficiency In the amount 01 such .ogregate monthty payment sha!. unless made good by lhe Borrower prior 10 the due dale or the neY.t such ~ymenl. consUlute an evenl 0' dlri.u" under this mortgage. The lender mlY colec:t a "lale ch.rge" nol 10 exceed four cents (4c) tor t!lIIch dollar ($1) Df t!lIIch p.yment more lhan fifteen (15) days In arrears to cover the ~ oxpense Involved in handling delinquent paymenls 4. That the Borrower will pay around rants, tMOIl, aDlIolSsmonts, water mias, and othor govornmental or municipal chargoD, fines, or imposlUona, for whIch provision haB not bem made hereinbefore, and In defaulltharoof the lender mey pay the Bams; and that the Borrower win prompUy deliver tho official receipts therefor to the lender. 5. The Borrower wiD pay all taxes which may be levied upon the lender's Interest in said real estate and Improvements. ftnd which may be levied upon this Instrument or the debt secured hereby (but onty to Ihe extent that such 115 not prohibited by law and onty to the extent that such wUl nol make this loan UIlUriOUS), but excludIng any Income tax. Slate or Federal. Imposed on lender. and will file tho official receipt showing such payment wflh the Lender. Upon violation <;.,thls under. laking, or" the Borrower Is prohibited by any law now or herae.fter existing from paying the whole or any portion of the aforesaid taxes. or upon the rendl::fing ot any court decree prohibitIng the payment by the Borrower of any such taxes, or It such law or dea-ee provides that Bny amount sO paid by the Borrower shaD be credtted on the deb1. the lender shall have the right to give ninety days' written noUce to the owner of the premises, requiring the payment ot the debt. It such notice be given. the said debt shall become due. payable and coUect. ible at the expiration ot said ninety days. B. That should the Borrower faU to pay any sum or keep any covenant provided for in this Instrument. then the lender, at Its option, may pay or perlonn the same, and all expenditures so made shall be added to the principal sum owing on lhe said note. shall be secured hereby, and shall bear Interest et the rate set forth In the said nole. untQ paid. 7. That the Borrower hereby assigns, trBnsfers 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 Ihe performance of any of the terms and condltlons of this Instrument or the saki note, aM the rents, revenues IInd Income to bo derived tram the said premises during such time liS Ihe Indebtedness shaD remain unpaid, and the lender shall have power to appoinl any agard or agents It may desire for the pur- pose 01 repairing said premises and of rentlng the same and coII~g lhe rents. revenues snd lncome, and II may payout at said Incomes aU expenses of repairing said premises Ilnd necesslllY commfsslons and expenses incurred to renting and nwnaglng the same and 01 coHecUng rentals therefrom; Ihe balance remaining, If any, to be appUed toward the discharge of Slid Indebtedness. 3. thai tI the total of the payments rMde by the Borrower under (a) of paragraph 2 preceding shaD mu:eed the amount ot paymenls actualy made by the lender for ground rents, wea and assessments or Inlurance premiums, .. lhe case may be. luch excess, If Ihe $can Is current, at the option of the Borrower. shd be a-edlted by the e_ That the BorrowM will keep the Improyements now existing or lender on subsequent paymMlS to be rMde by the Borrower. or hereaner erected on lhe property. Insured as may be required from refunded to the Borrow<<. It. howevl!l'. the monthty payments I"NIde time 10 time bv the lender egainlt loss by fire and other hazards. by the Borrower under (a) of par.graph 2 preceding sh" not be casualties and contk1genaes In !luch &mounts and lor such periods as sumdent to pay ground renll. tax_ and assessments or Insurance rMy be requ1red by the lender and wID pay prompUy. when due, any prI!ImkJml, al Ihe case may be, when the same aha. become due and premiums on such Insurance. provlsk>n lor paymenl Dt which has not payabkl, then the Borrower ,ha. pay to the lender any amount been rT\llId~ herelnbefDnl. AI Insurance ahaU be carried In companies necessary 10 make up the deficiency, oc or before the date when approved by 1he lend. and the poIlcles and renewals thereof sh" be payment of such ground rents. taxes, assessments, or inaurance pre- held by the lender and have attached thereto loss payable dauaes in mlums ,haI be due. If at any li'ne the Borrower ahallender 10 the favor of and .in 'ann acceptable to the lender, In event of loss lendw, k1 accordance with lhe provisions of the note secured hereby. Borrower will give immediate noUce by mall to the lender, who may fun paymenl or the enUre Indebtedness represented thereby. the lender make proal of loss tI not made promptly by Borrower. and each shd, In computing the amounl 01 such Indeb1edness, credit to lhe insurance company concerned Is hereby authorized mid directed to accounl of (he Borrower Bny balance remaining In the lunds aCalm. make payment lor such loss dlreclty to the lender Instead of to Ihe ulated under the provisions 0' (al 0' pllnlgraph 2 hereol. If there shaD Borrower and Ih& lender loinlly. and the Insurance proceeds, or any be a defAUlt under my or the provisions of this Instrument resulting In part 1hereof. may be appUed by the lender al its opUon ether to Ihe . pubic sale of the premises covered hereby, or " the lender IIC- reduction 01 the Indebledness hereby secured or to the restoratlon or QUWes the property olherwlse after defau", the lender shaH apply. al repair 01 the property damaged. In evenl 01 foreclosure or this Instru. Ihe \me 01 the commencement of such proceedings. or al the time menl or olher transfer of thle to the mortgaged property In extinguish- the property Is otherwise aCQuired. the balance then remaining in the menl of the Indebtedness secured hOl'eby, all right, tiUe and Interest lunds aCOJmulated under ta) 01 panlgraph 2 preceding. as II aedil. 01 the Borrower In and 10 any Insurance polk:les then In force shall a"uut Ihe amoun1 01 prindpal then remaining unpaid under said nola. pass to the purchasei' or grantee. ~~l:U C11 (06Ie8\ 120T73tl7l HUD-92143.DT '~IJ"O' C'll ~