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- -----'--gs_,-'105752 Borrower and Lendrr cOllman' .nd IRrre as rallows: or if the Lender acquires the properly otherwise after default. the Lender shall apply. allhe lime nf the commencement of such proceeding!>. or al the' time the properly 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. I. Thai Borrower will pay lhe indebtedness. a!i hcrcinbcfnrc provided. Privilege is reserved In pay the debt in whole or in pari on IIny imilaUmcnl duc dlle. 2. That. togelher with. and in addition to. the monthly payments of principal and interest payable under the terms of the nole secured hereby. the Borrower will pay 10 the Lender. on the first day of each month until the said note ilo fully paid. the following sums: (a) A sum equal to the ground rents. if any. next due. plu." the premiums lhat will next become duc and payable on policies of fire and other hazard insurance covering. the propcny. plus taxes and assessments nell duc on the property (ail a.r ("Mimatcd by the Lender) less aU sums already paid therefor divided by the number of months to elapse before one (I) month prior to the date when such ground rents. premiums. taxes and assessm,cnts will become deliquenl. such SUlnS to be held by Lender in trust to pay said ground renls. premiums. taxcs and special aSSCS!imenls; and {b) All paymenL" menlioned in the preceding subsection of this paragraph and all payments to be made under the note secured hereby shall be: added together. and the aggregate amount thereof shall be paid by the Borrower each monlh in a single paymenl to be applied by the Lender to the following items in the order set forth: (I) ground rents, taxes. assessments, fire and other hazard insur. ance premiums: (II) intere-fit on the note f.Ccured hereby; (Ill) amortization or the principal of said note; and (IV, latc charges. Any deficienc)! in the amount of such aggregate monthly payment shall. llnless made good by lhe Borrower prior to the due date of the next such payment. constitute an evcnt of default under this mortgage. The lender ma}! collecl a "late charge" not to exceed four cents 141:> for each dollar (5 I) of each payment more than fifteen lISI days in arrears 10 cover the extra expense involved in handling delinquent payments. 3. That if the total of the payments made: by the Borrower under (a I of paragraph 2 preceding shall exceed the amount of payments actually made by lhe Lender for ground rents. taxes and assessments or insurance premiums. as lhe ca5( may be, such excess. if lhe loan is currenL. at the option or the Borrower. shall be L.icditcd by ,he Lender on subscqucRl payments to be made by the Borrower. or refunded 10 the Borrower. If. however. the monthly payment!! made by the Borrower under (al of paragraph 2 prc:ccding shall not be sufficient to pay ground renls. taxes and assessments or insurance premiums. as the case may be. when the same shall hccome due Bnd payablc. then the Borrower shall pay to the lender any Imounl necessary to makc up the deficiency. on or hcfore the date when payment of such ground rents. taxes, assessments. or in!lurancc: premiums shall be due. If at any time the Borrower shall tender tn the Lender, in accordance with the provisions of the note secured hereby. full payment of lhe entire indebtedness represented thereby, the Lender shalt. in computing the amount of such indebtedness. credillO the account of the Borrower any balance remaining in the funds accumulated under Ihe provisions of (al 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 he:reby. 4. Thallhe Borrower will pa)! ground rents. taxes, assessments, water rates. and othcr gove:rnmental or municipal charges, fines, or impositions, for which provision has not been made hereinbefore, and in defaulllhereof the lender may pay the same:; and that the Borrower will promptly deliver the official receiplS therefor to the Lender. 5. The Borrower will pay AII-laxes which m:llY 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 10 the extent that such is not prohibited by law and only to the extent thai such will not make this loan usurious), but excluding any income tax, State or Federal. imposed on lender. and witt file Ihe official receipt showing such' payment with the Lender. Upon violation of this undertaking, 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 hy Ihe Borrower of any such taxes. or if such law or decree provides that any amount so paid by the BoHowcr shan be credited on the debt.., the Lender shan have Ihe right to give ninety days' wrinen notice to the owner of the premises. requiring the payment of Ihe debt If such notice be given, the said debt shan become due. payable and collectible at the expiration of said ninelY days. 6. That should the Borrower fail to pay any sum or keep any covenant provided for in this instrument. Ihen the Lender. at its option. may Pi}! or perform the same. and all expenditures 50 made shall be added to the principal sum owing on the said note, shan be secured hereby. and shall bear interest It the rate set forth in the said nole, until paid. 7. That the: Borrower hereby assigns. Iransfers and sets over to the Lender. to be applied toward the payment afthe notc and an 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, aUlhe rents. revenues and income to be derived from the said premises during such time as the indebledness shall remain unpaid. and the Lender shall have power to appoint any agent or agents it may desire for the purpose of repairing said premises and of renting the same and coUecting the rents. revenues and income. and it may payout of said incomes all expenses of repairing said premises and necessary commissions and expenses incurred in renting and manalinl the same and of collecting rentals therefrom; the balance remaining, if an}!. to be applied toward the discharge of said indebledness. 8. That the Borrower witt keep the impro\lements now existing or hereafter erected on the property. insured as may be required from time to 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 witt pay promptly, when due, any premiums on such insurance, provision for payment of which has not been made hereinbefore. All insurance shall he carried in companies approved by the Lender and the policies ~nd renewals thereof shall be held by the lender and have attached Ihereto loss pa}!able clauses in favor of and in form acreptable 10 the Lender. In Page 2 of 5 HUD.12143DT-1