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EXHIBIT C - (continued) LOAN COLLECTION SERVICES 1. Lender or its Agent agrees to notify borrowers in writing that all loan repayments shall be made to Lender once Agency activates account by supplying necessary loan information (loan terms, due dates, borrower's name and address). 2. Lender or its Agent agees to collect all loan payment proceeds received and forward to Agency; less authorized deductions, on a monthly basis. 3. Lender or its Agent agrees to provide borrowers with monthly notices indicating the total amount due and payable. Lender retains as a reserve, one month's payment for check assurance. Borrowers will be notified of past due payments in writing at fifteen, thirty, and sixty days past due. Lender shall not begin forbearance or foreclosure proceedings on Agency loans without written authorization from Agency. 4. At the request of Agency, Lender or its Agent shall establish an impound account for each borrower for pay- ment of property taxes and/or insurance premiums pending on the property securing the loan. 5. Lender or its Agent shall assess the borrower a late charge of six percent of the payment amount for payments more than ten days late, or a late charge set at the maxium of any prevailing local laws. 6. Lender or its Agent shall process and record a Substitu- tion of Trustee and Full Reconveyance at borrower's expense, upon satisfaction or when the property is sold. 7. Lender or its Agent shall supply Agency a monthly computer record of all transactions completed to date and the balances remaining in each account. Lender shall maintain all account records for seven years after account closure and make available all records within thirty days of request to Agency. 8. Lender or its Agent agrees to provide forbearance services under terms requested by Agency. Lender or its Agent agrees to prepare a revised repayment schedule for execution and maintain continuity in account collection.