) If the agreement with respect to a consumer loan contains covenants by the debtor to perform certain duties pertaining to insuring or preserving collateral and if the lender pursuant to the agreement pays for performance of the duties on behalf of the debtor he may add the amounts paid to the debt. Within a reasonable time after advancing any sums, he shall state to the debtor the amount of the sums advanced, any charges with respect to this amount, and the revised payment schedule. No further information need by given.

(2) A loan finance charge may be made for sums advanced pursuant to subsection (1) at a rate not in excess of the rate of return yielded by the loan finance charge under the loan, except that in a revolving loan account the amount of the advance may be added to the unpaid balance of the debt and an authorized lender may make a loan finance charge not in excess of that permitted by the provisions on loan finance charge for revolving loan accounts (§ 3201).