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8urrnwt'1'" and Lcndt'1'" co\'t'nanl and aRret' "'i follows: I Thai Hurrnwer will puy the mdebtedness. II!. hereinbcfnrc pnwltJcd. Privile!!c is rc!.crvcd In pay the dehl in wholc or in part 110 uny Installment due date 2. That. lugcthcr wllh. and m additiun 10. the munthly payments of pnncipal and interc,'it payable under the terms of the note secured herehy. Ihc Borrower will pay to Ihe Lender. on the firsl day (1f C3ch month untillhc said nole i!. fully paid. Ihe following sums: fa I ^ !ium cqualto Ihe ground rents. if any. nexl due. plus Ihe premiums that will next become due and payable on pnlicies of fire and other hazard insurance cnvcring the prnpcrty. plus taxes and assessments next due nn the prnperty (all as C'.Jlimalfd by Ih!' /.t'nder) Ie.~'i all sums already paid Iherefor divided by the number of months to elapse before one I I I monlh prior In the date when such ground renl... premiums. taxes and assessments will become dcliquent. such sums to be held by lender in trust to pay said ground renl'i. premiums. taxes and special asses.<;ments: and lbl/\II payment!. mentioned in the preceding subsection of this paragraph lInd all payments 10 be made under the note secured hereby shall he added together. and the aggregate amouotthereof shall be paid by the Borrnwer each month in a single paymenlto be applied hy Ihe lender 10 Ihe following ilems in the order set forth: III ground rents. taxes. assessments. fire and other hazard insur- ance premiums: (Ill intereSI on the nOle secuTl..-d hereby: (JIll amortizatIOn of the prinCipal of said note: and flV I late charge~ Any deficiency In the amount of !luch aggregate monthly payment shall. unless made good by Ihe Borrower prior to Ihe due dale of the next such payment. constilute an event of default under this mortgage. The lender may collecl a "late charge" nol 10 exceed four cents 141:) for each dollar ($11 of each payment more than fifteen (J 51 days in arrears to cover the exlra expense involved in handlinl! delinqucnl payments. 3. That if the total of the paymenLs made by the Borrower under (a) of paragraph 2 preceding shall exceed the amount of payments aClually made by the Lender for g.round rents. taxes and assessments or insurance premiums. as the case may be. such excess. if the loan is current. at Ihe option of the Borrower. shall be credited by the Lender on subsequent payments 10 be made by the Borrower. or refunded to the Borrower. If. however. the monthly paymen~ made by the Borrower under (a) of paragraph 2 preceding shall not be sufficient to pay ground rents. taxes and assessments or insurance premiums. as the case may be. when the same shall become due and payable. then the Borrower shall pay to the Lender any amount necessary to make up the deficiency. on nr before the date when payment of such ground renb. takCS. assessments. nr in!lurance premiums shall he due. If at any lime the Borrower shall Lendcr to the Lender. in accordance with the provislOm of the nOle secured hereby. full payment of the entire indebtedness represenled thereby. the Lender shall. in computing the amount of such indebtedness. credit to the account of Ihe Borrower any balance remaining in the funds accumulated under the provisiom of (a) 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 hereby. REoRECORrf%-9 -88~ 16-5-7-8-8- -- 88- 1 12 or if the lender acqUires the properly olherwise after default. the Lender ~haJJ apply. at the lime of the commencement of such proceedings. or at the time the property is olherwise acquired, the balance then remaining in the funds accumulated under fa) of paragraph 2 preceding. as a credit against the amounl of principal then remaining unpaid under said nole. 4. Thatlhe Borrower will pay ground rcnl,;. taxes. aSSc,l;Smcnts. waler ralc.'i. and other goyernmental or municipal charge.'i. lines, or impositions. for which proYision has not been made hereinbefore. and in dcfaultthcrcof the Lender may pay the same; and that the Borrower wil1 promptly deliver the official receipt'; therefor to the lender. 5. The Borrower will pay all taxes which may be levied upon the Lender'.'; interesl in said real estate and improvements. and which may be levied upon this instrument or the debt secured hereby (but only to the extent thai such is not prohibited by law and only 10 the extent that such will not make this loan usurious). but excluding any income tax. State or Federal, imposed on Lender. and wi1llile 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 payment of the debt. If such nOlice be given. the said debl shall become due. payable and collectible at the expiration of said ninety days. 6. That should the Borrower fail to pay any sum or keep any covenanl provided for in this instrument, (hen the Lender. at its oplion. may pay or perform the same. and all expenditures so made shall be added to Ihe principal sum owing on the said note, shall be secured hereby. and shall bear interest at the rate set forth in the said nOle. until paid. 7. That the Borrower hereby assigns. Iransfers and sets over 10 the lender. to 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 the said note. all the rents. revenues and income to 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 the purpose of repairing said premises and of renling the same and collecting 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 managing the same and of collecting rentals therefrom: the balance remaining, if any. 10 be applied toward the discharge of said indebtedness. 8. 'ihat the Borrower will keep the improvements now existing or hereafler erected on the property. insured as may be required from tIme In time b~,. lhe Lender against loss by lire and other hazards, C3.!lua.lllcs and contingenclcs in such amounts and for such periods &5 may be required by the Lender and will pay promptly, when due, any premiums on such insurance. provision for payment of which has not been made hereinbefore. All insurance shall be carried in companies approved by the lender and lhe policies and renewals tht"reof shall be held bv lhe lender and have attached thereto Joss payable clauses in favor of and in form acceptable 10 th~ Lender. In Page 2 01 5 HUD.92143DT-1