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Borrowlfr aDd uadrr covenlnl and la1ft' IS follows: I. Thbt Borrower will pay the indebtedness. as hereinbefore provided. Privilege is r~rved to pay Ihe debt in whole or in pan on any installment due date. 2. That. together with. and in addition 10, lhe monlhly payments of principal and interest payable under the terms of the nole secured hereby, the Borrower will pay to the Lender, on Ih. First day of each month unli1lh. said nol. is fully paid. the foliowing sums: (a) A sum cqualto the ground rcnts, if any. next due, plus the premiums that will next become due and payable on policies of fire and oth~ hazard insurance covering the property, plus taxes and assessments next due on the propeny (01/ as estimated by tht L~nder) less all sums already paid therefor divided by the number of months 10 elapse before one (I) month prior to the date when such ground rents, premiums. taxes and assessments will become delinquent. such sums to be held by Lender in trust to pay said ground rents, premiums, laxes and special assessments: and (b) All payments mentioned in Ihe preceding subsection of Ihis 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 month in a single payment to be applied by the Lender to the following items in the order sel fonh: (I) ground rents. tuxe~. assessments. lire and other hazard insurance premiums; (il) interest on Ihe note secured hereby; (111) amonization of the principal of said note; and (IV) lat. charg.s. Any deficiency in the amount of such aggregate monthly payment shall. unless made good by the Borrower prior to the due date of the next such payment~ constitute an e"'ent of default under this mongage. The Lender may collect a "late charg." nol to exceed four ccnlS (4<) fo, each dollar ($1) of each payment more than fifteen (lS) days in arrears to cover the extra expcnse involved in handling delinquent payments. 3. That if the total of the payments made by the Borrower under (a) of paragraph 2 preceding shall exceed the amount of payments actually made by the Lender for ground rents, taxes and assessments or insurance premiums. as the case may be. such excess. if the Joan is currcnt~ at the option of the 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 payments made by the Borrower UDd~ (a) of paragraph 2 preceding shall not be sufficient to pay ground rents, taxes and assessments or insurance premiums. as the case may bc~ when the same shall become due and payable. then the Borrower shall pay 10 the Lender any amount necessary 10 make up the deficiency. on or before the date when payment of such ground rents. taxes, assessments~ or insurance premiums shall be due. If a1 any Lime the Borrower shall tend~ to the Lender. in accordance \\;th the pro\isions of the note secured hereby, full payment of the entire indebtedness represented th~eby. the Lender shall. in computing the amount of such indebtedness~ credil 10 the account of the Borrower any balance remaining in the funds accumulated und~ the provisions of (al of paragraph 2 hereof. If there shall be a dcfaul1 under any of the prO\-:sious of this instrUment resulting in a public sale of the premises covered hereby. or if the. Lender- 88- 106191 acquires the property otherwise after default, the Lender shall apply. at the time of Ihe commencement of such proceedings, or at the dme 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. 4. That the Borrower will pay ground rents, taxes, assessmenlS, water rates, and other governmental or municipal charges, fines, or impositions, for which provision has not been made h.creinbeforc, 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 interest in said real ~tate and improvements, and which may be levied upon this instrument or the debt secured hereby (bUI only 10 the extent that .such is not protulJited by law and only to the extent that such will nol make this loan usurious). but excluding any income lax, Stale or Federal, imposed [.10 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 ponion of the aforesaid taxes. or upon the rendering of any coun 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 right 10 give ninety days' written notice to the own~ of the premises, requiring the payment of the debt. If such notice be gjven, th~ said debl shall become due. payable and collectible at the expiration of said ninely days. 6. Th'at should the Borrower fail to pay any sum or keep any covenant provided for in this instrument. then the Lender, at its option, may payor perfonn 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 int~cst at the rate set fonh in the said note. until paid. 7. That the Borrower hereby assigns, transfers and sets over to tbe Lender, (0 be applied toward tbe payment of the note and all sums secured hereby in case of a default in the perfonnance of any of the terms and conditions of this instrumenl or the said nOle, all the rents. 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 the purpose of repairing said premises and of renting 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. That the Borrower will keep the improvements now existing or hereafter erected on the propc:rty. insured as may be required from time to time by the Lender against lass by firc and other hazards. casualties and contingencies in such amounts and for such periods as may be required by the Lender and wiIl pay promptly, when due. any premiums on such insurance. prmision for payment of which has not been made hereinbefore. All insurance shall be canied in companies approved by the Lcnd~ and the policies and renewals thereof shall be held by the Lender and have attached thereto loss payable clauses in favor of and in form acceptable to the ~~ ~j~'! oj u L Page 2 of 5 HUD-92143DT-' ~