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- -- - . --------.----r lu) A ,urn equal 10 Ihe ground I',~ a~y. ~~!~p!~,e premium, thut will nexl heeome due and payable on pulicics of fire and other hl1Zard insurance covering the property. plus tuxes and assessments next due on the property (all as C"slimmed by "'~ under) Jess all !.Iums already paid therefor divided by the number of months to elapse before one (I) month prior to the date when such ground rents, premiums. lnxcs and assessments will become delinqucllt. such sums to be held by Lender in trust ID pay said ground rents. premiums. UlX_CS and special asscssments; and (b~ All payments mentioned in Lne preceding subsection or Ihis paragraph and all payments to be made under the note secured hereby shall be added together. and lhe aggregate Ilmounl thereof shan be paid by Ihe Borrower each month in a single payment to be applied by lhe Lender to the following items in the order set forth: (I) ground rents, taxes. assessments, fire and other hazard insurance premiums; (11) interest on the note secured h<::reby; and (III) amonization of the principal of said note. 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 event of default under this mongage. The Lender may collect a "late charge" nol to exceed four cents (4C) for each dollar ($] ~ of each payment more than fifteen (lS~ days in arrears to cover the extra expense involved in handling delinquent payments. 3. That if the Lotal 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 lhe option of the Borrower. shall be credited by the Lender on subsequenl payments 10 be made by the Borrower. or refunded to the Borrower. If. however. the monthly payments made by the Borrower under (al of paragraph 2 preceding shall not be sufficienl 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 or before the date when payment of such ground rents. taxes. assessments. or insurance premiums shall be due. If at any time the Borrower shall tender to the Lender. in accordance with the provisions of the note secured hereby. full payment of the entire indebtedness represented thereby. the Lender shall. in computing the amount of such in- debtedness. credit to the account of the Borrower any balance remaining in the funds accumulated under Ihe provision:; 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. or if the Lender acquires the property otherwise after default. the Lender shall apply. at the time of the commencement of such proceedings. or at the time the property is otherwise acquired, the balance then re- maining in the funds accumulated under (a) of paragraph 2 preceding. as a credit against the amount of principal then remain- ing ~npaid under said note. 4. l11at the Borrower win pay ground rents. taxes. assessments. water rales. and other governmental 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 lhe 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 instrument or the debt secured hereby (but only to the extent that such is not prohibited by law and only to the extent that such will not make this loan usurious). but excluding any income tax. Stale or Federal. imposed. on Lender, and will file the official receipt showing such payment with the Lender. Upon violation of this undertak- ing, 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 court decree prohibiting the payment by the Borrower of any such taxes. or is such law or decree provides that any amount so paid by the Borrower shall be crediled on the debt. the Lender shall have the right to give ninety days' written notice to the owner of the premises. requiring the paymenl of the debt. If such notice be given, the said debt shaJl become due, payable and collectible at the eltpriation of said ninety days. 6. That 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 perform the same. and all expenditures so made shall be added to the principal sum owing on the above note. shall be secured hereby. and shall bear interest at the rate set fonh in the said note. until paid. 7. That the Borrower hereby assigns. transfers and sets over to the Lender, to be applied to\\'ard the payment of the note and all sums secured hereby in case of a default in the perfonnance of any of the lenns 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 indebtednes~ shall remain unpaid. and the Lender shall have power to appoint any agent or agents il 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 aU expenses of repairing said p~mises 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 against loss by fire and other 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 nOl been made hereinbefore. All insurance shaU be carried in companies ap- proved by the Lender and the policies and renewals theroof shall be held by the Lender and have attached thereto Joss paya~le clauses in favor of and in fonn acceptable to the Lender. In event of loss Borrower will give immediate notice by mail to the Lender. who may make proof of loss if not made promptly by Borrower. and each insurance company concerned is hereby authorized and directed to make payment for such loss directly \0 the Lender instead of to the Borrower and the Lender jointly. and the insurance proceeds, or any pan thereof. may be applied by the Lender at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the propeny damaged. In event of foreclosure of this inslrumen\ or other transfer of title to the mongaged prnpcny in extinguishmenl of the indebtedness secured herehy. all righl. litle and inleresl of the Borrower in and 10 any insurance policies then in force shall pass to the purchaser or ~rantec 9 lluit it!\. addil1Unulllnd wllatcral securily for the paymenl IIf the nule described. and all sums III hccuml.' dul.' under tll1S Instrument. the Bnnnwer hereby assign!. to the l.ender all prnflb. revenues. rnyaltics. righL.. and hendll" al'..:'nlln).! II) the 8omn...cr under an)' anJ all nil nnd gO!! lea.!>es un ~Id prenu!te". Wllh lhe n~lll In rccei\'C' .and TCCC'lpf fur lhl" ...amc and _ -~"":' :;_ .i' p~O" 2 of" Form- HUD-92U3-QT Re" 2168 'SlP-1