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Borrower and Lender covenanl and agree as rallows: ~88-4W5S2-~ I. That Borrower will pay the indebledness, as hereinbefore provided. Privilege is reserved to pay the debt in whnle or in part on any instll.llment due date. 2. That, togelher wilh. Ilnd in addition to, Ihe monlhly payments of principalllnd interest payable under the terms of the nole secured hereby, the Borrower will pay 10 the Lender, on the first day of each month untillhe said note is fully paid, the following sums: (a) A sum equal 10 the ~round renlS, if any, next due, plus the premiums Ihat will next become due and payable on policies of fire and olher hazard insurance covering Ihe property. plus la'lcs and assessments next due on Ihe property (all as estinwted by 'he Lender) less aU sums already paid thereCor divided by the number of months to elapse before one (I ) month prior 10 the date when such ground renls, premiums, takes and assessmenls will become deliquenl, such sums to be held by Lender in uus! to pay said ground rents, premiums. taxes and special assessmen15: and (b) All payments mentioned in the preceding subsection DC thiS paragraph and all payments to be made under the note secured hereby shall be added togelher. and the aggregate amounlthereof shall be paid by the Borrower each month in a single paymenl to be applied by the Lender to the following items in the order set Corth: (I) ground renls. taxes., assessments, fire and olher hazard insur- ance premiums; (II) mlerest on the note secured hereby: (J1l) amortization oflhe principaJ of said nOLe; and {lVllale charges. 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. constilute an event of default under this mortgage. The Lender may collect a "late charge" not 10 exceed four cents (411) for each donar ($11 oC each payment more than fiflecn (I 5) da~ in arrears to cover the extra expense invoh:ro in handling delinquent payments. 3. That if the total ofthe payments made by the Borrower under (a) oC paragraph 2 preceding shall exceed the amount of payments actually made by the Lender for ground rents. taX~ and assessments or insurance premiums, as the case may be. such excess, if the loan is currenL al the option of the Borrower. shall be: credi~ed by the Lender on IiUbscqUcnt pAyments 10 be made by the Borrower, or refunded 10 the Borrower. Jr, however.lhe monthly payments made by Ihe Borrower under (8) of ~ragraph 2 prea:ding shall nol be sufficienllo pay ground rents, taxes and assessments or insurance premiums. as the case may be. when the same shall become due and payable. then Ihe Borrower shan pay to Ihe Lender any amount necessary 10 make up the deficiency, on or before the dale when payment of such ground renls. taxes, assessments, or insurance premiums shall be due. If at any time the Borrower shall t(nder to lhe Lender. in accordance with the provisions of the note ~ured hereby, full payment of the entire indebtcdnC5." represented thereby, the Lender shall. in computing the amount of such indebtedness. aedilto Ihe accounl of the Borrower any balance remaining in Ihe Cunds accumulated under the provisions of (al of paragraph 2 hereof. If there shan be a default under any of the provisions of this instrument Te5ulling in a public sale of Ihe premises covered hereby, or if the Lender acqUlre.Ii the property otherwise arler ddauh, the Lender shall apply, althe time of the commencement of such proceedings, or at the time Ihe properly is olherwise acqUired. the balance then remaining in lhe fund.'i accumulaled under (a) of paragraph 2 preceding, as II credit agllinslthe amnunt of pnnClpal then remaining unpaid under said note. 4. Thal the Borrower will pay ground rents. tax~. asscssments. water mles. and other governmental or municipal charges, fines. or impositions, for which provision has nnt been made hereinbeCore, and in deCault thereof the Lender may pay the same: and thai 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 estate and improvements. and which may be levied upon this instrum(:nt ur the debt secured hereby (but only to the extent that such is not prohibited by law and only to Ihe extent that such will not make this loan usurious), but excluding any income tak, State or Federal, imposed on Lender. and wm file Ihe official rea:ipt showing such payment with the Lender. Upon violation of this undertaking. or if the Borrower is prohibited by any law now or hereafter existing Crom paying the whole or any portion of the aforesaid takCS, or upon the rendering of any coun decree prohibiling the paymenl by the Borrower of any such taxa. or if such law or decree provides tbat any amount so paid by the Borrower shaH be credited on the debt. the Lender shall have the right 10 give nim'ty days' wriuen notice 10 the owner ofw premises. requiring the payment of the debt. If such notice be given. the said debl shall become due, payable and co11ecuole at the expiration DC said ninety days. 6. That sh'ould the Borrower fall 10 pay any sum or keep any covenant provided for in thls imtrumenL then the lender. at its option. may payor perform the same, and a11 expenditures so made shall be added 10 the principal sum owing on the said note, shall be ~cured hereby. and '!t.haJl bear interest at the rate set fonh in the said nole. until paid. 7. Thai the Borrower hereby assigns. tt1lnsCers and seIS over to the Lender. to be apphed toward the payment of the note and all sums secured hereby in c:ase of a default in the perfonnancc of any of the terms and condilions oC Ihis instrument or the said note. I)) the rerns. revenues and income to be derived from the said premises during such lime ~ the indebtedne5.'. shall remain unpaid. and Ihe Lender shall have power to appoint any agent or agents it may desire for Ihe purpose of repiuring ~id p~mises and of renting the same and adlccring the n:nl!i. menuel and income:. and it tmly pl.y out of :sAid incnm~ all CJtpen~ of repairing !.lid premises and nCCCS5ary cummlSSlOns and ekpemo incurred in renting and managing the same and oC collecting rental!. therefrom; Ibe balana: remaining. if any. 10 be applied toward the discharge of said indebtedness.. 8. Thai the Borrower will keep the improvements now existing or hereafter erected on the property. insured as may be required rrom lime to lime by Ihe lender against loss by fiR! and other hazards. casualties and contingencies in such amounts and fo;- such periods as may be required by the lender and will pay promptly, when due.. any premiums on suth insurance, provision for payment or which has not been made hereinbeCore. All insurance shall be carried in companies approved by the lender and the policies and renewals Ihereof shall be held by Ihe Lender and have attached thereto Joss payable clau'!t.e5 in favor of and an Clltm aeceplable 10 the Lender. In Page 2 01 5 HUD.!iI21C3DT .1