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I. That Borrower will pay the Indehtedness, a~ herelnhefore provided. I'rivile(!.e i~ reser\'ed In pay the dchl in whulc or in part un any installment duc dale. 88-- 105805 or jf the l.ender acqulTcs the Ilfopcrty otherwise after defaull. the Lender shall apply, at the time of Ihe commencement of such proceedings, IIr at the lime the prnperty is otherwise acquired. the balance then remaining in the funds accumulated under (D) of paragraph 2 preceding, as a credit against the amount of principal then remaining unpaid under said note. Borrower and l..cndcr covenanl and aJ.:rc(' ." follows: 2. That. Ingelhcr wilh. and In addllllln Ill. Ihe month!}' paymenl.\ of pnm':lpulllnd mleresl payahle under Ihe terms of Ihe nole secured herehy. Ihe Borrower will pay ~u the lender. on Ihe fir.il day of each month until the: said noll' i!l fully paid. the following sums: fa I t\ sum e4ual tnthe gmund rent!., if an)'. nexl due. plus Ihe premIUms Ihal will next become due and payahlt on policies of fire and other hazard insurance ('Ilyeno,!! Ihe pHlpcrty. plus laXel and a5SCS."mcnl" nexl due on the property (all 0.\ f'slImOlNi b.II the J.end(>r) less all sum... already paid therefor diVided hy the number of months to elapse before one f 1 ) month pnm tn the date when such ground rents. premiums. tues and asse.......menl.. will become dcliquenL such sums to be held by Lender In truSI 10 pa~ -">aId gruund rents. premiums. taxes and special a\..ic........ment...; and (b) All paymenl~ mentioned In thL' precedmg suhsection of thi... paragraph and all payment!lln he: made under the note secured herehy shall he added logether, and the aggregate amount thereof shall be paid by the Borrnwer each month In a "lOgic payment to he applied hy Ihe lender 10 the follnwmg Ilem... 10 the order set forth: (1) ground renb. II1I1C.\. a~!\L'!\...menl~. fire and other hazard insur- ance premIums. IllllDh:re!\l on the Ollie !<oCcured hereby. (1111 amorll1.allllD of the flnnclpal of said nole; and (IV I late char,!!C\ Am' defIClenC\' lD the amount of such aggregale monthly payment shall. .unless made good hy Ihe Horrower prior 10 the due dale of the next such payment. comlllule an evcnt of default under thi.. mortgage. The under mll)- collecl a "laiC charge" not 10 ekceed four cents 14CI for each dollar (SII of each payment more than fifteen {IS I dav.\ in arrear.. tll L't1\1Cr the ektra ell pense Involved in handlin,!! delinquenl payment!> 3, Thai if the total of the payments made by the Borrower under (a I of paragraph 2 preceding shall ekceed Ihe amount of payments actually madc by the Lender for ground rents, takes and assessment!. or insurance premium!>. 85 the case may be, such excess, if the luan I... currenl. at the option of Ihe 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 payment.. made by the Borrower under (a) of paragraph 2 precedmg shall not be sufficient to pay ground renlS. takes and as..iessmenl5 or msurance pn:miums. as the casc may be. when the same shall become due and payable. then the Borrower shall pay 10 the under any amount necessary to make up lhe deficienc~. on or bc!forc the date .....hen paymenl of such ground fenCl. Ia),C!o, ~ment5, or m!aurance premium!> shall be dUe. If at any ttme the Borrowcr !!hall tender 111 the under. m accordance with Ihl: pro\llslons of the nole !aCcurcd hereby, full payment of the cntne mdebtedness represcmed Ihereb)'. the Lender shall. in compuling the amount of 5uch mdebledno!>, credit 10 the account of the Borrower any balance remammg in Ihe funds accumulated under the proVision... of la I of paragraph 2 h~reof. If there shan be a default under llny of the proVision!! of thl!! instrument resulting. in a public sale of the premu.e~ co\"ered hereb~.. 4. Thai the Borrower will pay ground rent<;. IaACS. assessments. water ratcs, and other governmental or municipal charge.", fines, or imposllions, for which provision has not been made hereinbefore. and in default thereof the Lender may pay the same; and that Ihe Borrower will promptly deliver the official receipts therefor to Ihe Lender. 5. The Borrower will pay alllaxes which may be le\lied upon Ihe 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 exlenl thai such is nol prohibiled by law and only to the ektent Ihat such will nol make this loan usurious). but excluding any income t8k. State or Federal, imposed on Lender, and will file the official receipl showing such payment with the Lender. Upon violation of this undertaking. or if Ihe Borrower is prohibited by any Jaw now or hereafter ekisting from paying the whole or any ponion of Ihe aforesaid taxes, or upon the rendering of any court decree prohibiting Ihe payment by the Borrower of any such taxes. or if such law or decree provides Ihal any amount so paid by the Borrower shall be credited on the debt. the Lender shall have the right 10 give ninety days' written notice (0 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 Ihe e.x.piration of said ninety days. 6. Thal should Ihe Borrower failta pay any sum or keep any covenant provided for 10 thIS lOstrumenL. then the Lender. at its option. may pa~1 or perform the same. and all expenditures so made shall be added to the principal sum owing on the said note, shall be secured hereby. and shall bear interest at the rale set forth in the said note. until paid. 7. Thai the Borrower hereby assigns. transfers and sets over to the Lc:nder, 10 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 Ihe said nOle, alllhe rents. revenues and income to be derived from the said premises during such time 8!> the indebtedness shall remain unpaid. and the Lender shall hne power to appoint any agent or agents it may desire for the purpme 01 repairing said premises and of renting Ihe same and collecting the rents. re'JenUe5 and income. and it may payout of said income!! all ekpenscs of repairing said premises and necessary commiSSIon!> and expenses incurred in renting and managing the same and of collecting rentals therefrom; the balance remaining, if an~. 10 be applied toward the discharge of said indebtedness. 8. That lhe Borrower will keep the improvements now existing or hereafter erected on lhe property, insured as may be required from time ~o time by the Lender ilgainsl 1055 by fire and other hazards, casuahiC!. and contingencies in such amounts and fOf sucb 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 nol been made hereinbefore. All insurance shaU be carried in companiC!. approved by the Lender and the policics and renewals thereof shall be: held by the Lender and have attached therelo loss payable cLaU5e!. in favor or and in form aca:ptable 10 the Lender. In Page 2 01 5 HUD-921.3DT. ,