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~ -- 19-5S82 __________n___ . ~8- Borrower and Lt.-ndef co\'cnanlllnd aJ:ree as rollo'ces: or if the Lender aC4uucs the property otherwise aflcr default. lhe lender shall apply. at the lime (If the commencement of such proceedings. ur at Ihe time lhe property is otherwise acquired, the balance then remaining in mc-tunds accumulated under (a) of paragraph 2 preceding. as a credit agaiml the amounl of principal tben remaining unpaid under said nole I. Thai UnrTowcr will puy !he mdehtedness, as hereinbefore prnvuJcd. I)nvilcgc is rC!lcrvcd In pay the dehl in whnlc or in run un an\' Installmenl dill' dUll' 2. ThaI. tllgether wllh. and in addltlun to. the mnnlhly puymcnls (If pnndpnl and mtcrest payable under the terms of the note secured herein,'. the Burrower will pay III Ihe lender. on lhe first day nf each mnnlh unlillhc saul nnle i~ fully paid. the folluwing sum,~: la) ^ ,"urn equal In the ground rcnt!!.. if any. ncltt due. plu~ the premium!'> that will nexl hecome due and payable on pnlicie.c; of fire and other hazard insurance covering the property. plus taxe," and asscS.'imenl'i neXI due un the propeny (all Q.\' l'slimated by ,hI' /A'ndl'r) less all sums already paid therefor divided by the number of monlhs to elapse before one (I I monlh prior 10 the dale when such ground renb. premiums. taxes and as.lies.c;ments will become deliqucnI. such sums to be held hv lender in trusl to pay said ground renl~. premiums. taxes a'nd special ll.'isessmenlli; and (b) All payment!. mentioned in IhL' preceding subsection of thi.. paragraph and all paymcnls In be made under Ihe nOIe secured hereby shall be added Ingether. and Ihe aggregale amounl thercof shall be paid by Ihe Borrower each month in a single paymenl to he applied by the lender to the following items in the order sct forlh: (I) ground renl5. InJles. l15..c;es.'imenls. fire and other hazard insur. ance premiums; (II) inleresl on Ihe note secured hereby; (IIJ I amortizatIOn of the principal of said note; and (IV) late charge~ Anv deficienc,,' in the amount of such aggregate monthly paymcnl shall. .unless made gond by the Borrower prior tulhe due date of the next such payment. constitute an event of default under (hi!'. mortgage. The Lender may colle!.:1 a "Iatc charge" not 10 exceed four cents 14C) for cach dollar ($1 ) of each payment more thnn fifteen (15l davs 10 arrear~ tn cover the elltrll expense IOvolved in handlin(!. .delinqucnl pnymenl~ 3. That if the total of Ihe paymenlS made by the Borrower under fa I of paragraph 2 preL:cding shall Cltcced the amount of paymcnts aClUlllly made hy t.hc lender for ground renl!i. taxes and ~sessmen~ or insurance premIUm!l. as the case may be. such excess. If the loan IS current. at the nptmn of the Borrower. shall be credited by the Lender on subsequent paymenls 10 be made by Ihe Borrower. or refunded to the Borrower. If. howcver. the monthly paymenlc; made by the Borrower under (a) of paragraph 2 preceding shall nol be sufficient to pay ground renlS. laxes and assessments or insurance premiums. as the case may be. when the same shall become due and payable. then the Borrower shall pay to Ihe lender any amounl necessarv 10 make up the deficiency. on or before the date when paymeni of such ground renl~. tues. asscssmenlS. or in~urance premiums shall be due. If at any time Ihe Borrower shall tender to the lender. in accordance with the provisions of the note secured hereby. full payment of the entire indebtediless represemed thereby. the Lender shall. in computing the amount of such indebtedness. credit to the account of the Borrower any balance remaining in the funds accumulaled under the provisiom. of (a I of paragraph 2 hereof. If there shall be a derault under any of Ihe provisions of thill instrument resulting in a public sale of the premises covered hereby. 4. Thatlhe Borrower will pay ground renlli. laxe.'i. as."cssmenl~. water ralC!l, and other govcrnmemal or municipal charges, fines. or impositions. for which provision has not been made hereinbefore, and in default thereof the Lender may pay the same; and that the Borrower will promptly deliver the official receipts therefor to the Lender. 5. The Borrower will pay all taxes which may be levied upon the Lender's interesl in said real estale and improvements. and which may be levied upon this instrumenl or the debt secured hereby (bUl only to the extent that such is not prohibited by law and only to the extenl that such will nOI make Ihis loan usurious). but exclUding any income lax. 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 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 by the Borrower of any such taxes. or if such law or decree provides that any amount so paid by the Borrower shall be credited on the debt. the lender shall have the righlto give ninety days' written notice to the owner of the premises. requiring the paymenl of the debt If such nOlice be given, the said debt shall become due. payahle and collectible atlhe cxpiration of said ninety days. 6. That ~hould the Borruwer fail 10 pay any sum or keep any covenanl provided for in this instrument. then the lender. at its option. may payor 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 inlerest at the rate set forth in the said note. until paid. 7. That the Borrower hereby assigns. transfers and sels over 10 the Lender. to be applied toward the payment of (he note and all sums secured hereby in case of a default in the performance of any of Ihe terms and conditions of Ihis instrument or the said note. all the renlS. revenues and income 10 be derived from the said premises dUring such time as the indebtedness shall remain unpaid. and the Lender shall have power to appoint any agent or agents it may desire: for Ihe purposc of repairing said premises and of renting the same and collecting Ihe renl5. revenues and income. and it may pay oul of said incomes all eltpenses of repairing said premises and necessary commissions and expenses incurred in renting and managing the same and of collecting rentals therefrom; the balance remaining, if any. to be applied toward the discharge of said indebtedness. 8. That the Borrower will keep the improvements now existing or hereafter erected on the property. insured as may be required from time to time by the Lender agaioslloss by fire and other hazards. casualties and cOnlingencies 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 paymcnt of which has not been made hereinbefore. All insurance shall be carried in companies approved by Ihe lender and the policies and renewals thereof shall be held by th~ Lender and have attached thereto loss payable clauses in favor of and in form acceptable to the lender. In Page 2 01 5 HUD-92143DT .1