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Borrowrr and Lrndtr coven.nl and aRn-e II follow,,: I. That Borrower will pay the indebtedness, as hereinbefore provided. Privilege is rc5CrYcd to (lilY the debt in whole or In part on any instillment due dlte. 2. That, together with. Bnd in addition to. the monthly payments of principal And interest payable under the It.:rms of Ihe note secured hereby, the Borrower will pay to the Lender, on the first day of each month until the said note is fully paid, the following sums: (a) A sum equal to the ground rents, if any, next duc, plus the premiums that will next become due and payable on policies of fire and other hazard insurance covering the pro~rty, plus laxes and assessments next due on the property (all as esr;maled by the Lender) less all sums already paid therefor divided by the number of months to elapse before one (I) month prior to the date when such ground rents, premiums. taxes and assessments will become deliqucnt. such sums 10 be held by Lender in trust to pay said ground rents. premiums, taxes and special assessmcnts: and (b) All payments mentioned in the preceding subsection nf thi!> paragraph and all payments to be made under the note secured hereby shall be added together. and the aggregate amount therenf shall be paid by the Borrower each month in 11 single payment 10 be applied by the Lender to the foUowing items in the order set forth: (I) ground rents. laxC5. assessments. fire and olher hazard insur- ance premiums; {II> interest on the nole secured hereby; (III) amortization of Ihe principal of said note; and (IV) la1e charges. Any deficiency in tbe amount of such aggregate monthly paymenl shall. unless made good by the Borrower prior to the due date of the next such payment. constitute an event of defau1t under this mortgage. The Lender may collect a "late charge" not to ex.ceed four cents (4lt) for each dollar ($1) of each payment more than fifteen (15) days in arrears to covenhe extra ex.pen~ involved in handling deli.nquent 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 loan is current. 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 tbe Borrower under (a) of paragraph 2 preceding shall [jot be sufficient to pay ground rents, taxes and assessments or insurance premiums. as the case may be. when the same shall become duc and payable. then the Borrower shan pay to the Lender any amount necessary to make up the deficiency. on or before the date when payment of such ground rents. taxes. assessments. or insurance premiums shall be due. If at any time the Borrower shall1ender 10 the Lender, in accordance with the provisions of the note secured bereby, full payment of the entire indebledness represented thereby. tbe lender shan, in computing Ihe amounl of such indebtedness. credille 1he accounl of the Borrower any balance remaining in the funds accumulated under the provisions of (a) of paragraph 2 hereof. If there shall be a defau1t undtr any of the provisions of this instrument resu1ting in a public sale of the premises covered hereby. BB--106723 or If lhe tender acqUires the properlY ulhcrwise arter default. Ihe Lender shllll apply, at the timc of the cummencemenl of r.uch proceedings. or at Ihe time the property is otherwise Required, Ihe balance then remaining in the funds accumulated under (D) of paragraph 2 prel.:edlng, as a credit against the IImount of principal then remaining unpaid under said note. 4. Tluu the Onrrower win pay ground rents, taxes, asses...,mcnl't. water rateS, Dnd other governmental or municipal charges, fines. or impositions, for which piOvision has not been made hereinbefore, and in default thereof the Lender may pay the same; and Ihat the Dorrower will prompt1y deliver the official receipts therefor to the Lender. 5. The Borrower will PDY all taxes whi~h may be levied upon the Lender's interest in said real cslate and improvements, and which may be levied upon this instrumen1 or the deb1 secured hereby (but only to the extent that such is not prohibited by law and only 10 the extentlhat such will om make this loan usurious), but excluding any income tax. SIale 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 paymg the whole or any ponion of the aforesaid taxes. or upon the rendering of any court decree prohibiting the payment by 1he Borrower of any such taxes. or if such law or decree provides that any amount 50 paid by 1he Borrower shall be credited on the debt, tbe Lender shall have 1he righ1to give ninety days' written notice to the owner of 1he premises. requiring the paymen1 of the debt. If such nOlice be given. the said debt shall become due. payable and collectible at the expira1ion of said ninety days. 6. That should 1he Borrower failta pay any sum or keep any covenant provided for in this instrument. then the Lender. a1 its option. may payor perform the same. and all expendi1ures so made shall be added to the principal sum owing on the said note, shall be secured hereby, and shaU bear interest al the rate sel forth in the said note. until paid. 7. That the Borrower hereby assigns. transfers and sets over 10 the Lcnda:r. to be applied toward 1he payment of the note and all sums secured hereby in case of a default in the performance of any of the 1erms and conditions of this instrument or the said n01e, all the rents, revenues and income to be derived from the said premises during such time as the indeb1edness shall remain unpaid. and the Lender shall have power to appoint any agen1 or agents it may desire for the purpose of repairing said premises and of renting 1he same and collecting Ihe rents. revenues and income, and i1 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 Iherefrom; the balance remaining_ if any. to be applied toward the discharge of said indebtedness. 8. Tha1 Ihe Borrower will keep (he improvements now existing or hereafter erec(ed on the property. insured as may be required from time 10 time by the Lender against loss by fire and 01her hazards. casualties and contingencies 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 payment of which has n01 been made hereinbefore. All insurance shall be carried in companies approved by the Lender 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 Lender. In Page 2 or 5 HUO-92143DT -1 J .T .~:E;~. -, t