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<br /> �{ A If under puragraph 18 l�ereof the Pro�>erty is solcl or tlxe i'roperty is otherwise :icquirei9 by Lender, Lender � `
<br /> , . ' ` sh�ll :ssp�aly, no luter tl�:sn imruediately -Priar t� tt�e ealc oi Llir. 2'ra(ycrtc or it�a' acquisition t�y l,errcier; any E'ands �
<br /> held::by Lender at the time of :3p�>lication as a credit .^�gain�t tl�e suin� recureri b}� t1�i5 :�lorigagc.
<br /> 3; Application of Payments. Unless ss�>plicable li�ss� a�rovi<Ies otheri��ise; all F�ay�nerii9 Teceiveri Uy Lender
<br /> under the Note aad paxugraghs 1 nud 2 hereot s{a�al! t�c ata�>lied Izy i.ender fir5r in paynrent of smaun2s ��ayable io
<br /> , C� Lender 6y BorFower under i�ara;�ro,;�l� 2 I�ereof, tlien to intcrest jjtxy�blc on thc ?�Tote :incl on Futurc Advi�nces, if
<br /> � 4:' any, and tlien to the principal of tlie i+'ote ancl, Co Clxe ��rinei�aat of P'uture .�cit�ance5, if any_ ,
<br /> ' E" � 4, Chargest Liex�s:; BorroR er sl�all lany all taxes; assesaments aud ottteF� ci�arges, fines snd im�3ositions atirib-
<br /> �', *"" utRble to Ghe Property; which may uttain a priorit,y over tLis =VIort�age, �nd ground rents; if any, at Lender's
<br /> �':- option iu..thd manner �arovided under l�aragrapli 2 hereof or t3y Borrower isiaking pttyment, �shen due; direc�ly to
<br /> C`: the pnyee thererif. Borrower shall promFi"tly" furriish to I.ender all notices of arnounts due ander tliis paragraph ,
<br /> , � �' aud 3n.t,he event $orrawer s12a11' make ga�yment directly, T3orrower s1�a11: promptly .iurnish to Ie:nder receipts ovi-
<br /> 's � de�acing sucin gayments: I3prrowet sfiiall �>zomptly c�iscl�ar�e auy lien wl�ich hss j�riarit,y ox�er this Alortgage ; 4�ro-
<br /> ; videc3; tlxat Iiosrozver siaall not l�e required Lo diseliarge a�1y snch lien so long as 13orrower stzall a6ree in writing to ,
<br /> "` � the paymen6 of the ablig&tion secured by sueh lien in .ti manner acceptaGle to Lender; or shall, in good faith conteat `
<br /> a � '' snch lieq by, ordefend enfoacetttent oF such liea ' in, legsi l�ruccecii7i� h�liicta' operate to prevent the ' enforcement of
<br /> � -: ' ; ' the lien or #orfeiEure of the Property oi• any ��art thereof:
<br /> ��A �.' ; S: Hazard Tnsurcnce. Borrowershull keep the iinprovements now� existiug or hereaiter ereMed on the Prop-
<br /> „ t erty insured sgainst loss by fire; liazards inciuded �vithin the 'term �`extended caverage", cind sucl� other hazards as ' '
<br /> ' + . Lender may require snd in such aix�ounts anci for such r�ei•iods as I.ender may require ; provided, that Lender shsU`
<br /> � not r�quire t6at the'an2owit of:such eoverage exceed tliat amount of, coverage require� to ��ay the sums secured 'by
<br /> �^ , � this :l�fortgage: . `
<br /> ' , ` `� The insurance currier I3rouiding itie insurance shali E�e chosen b,y Borrower subject to upprovai i�y I.ender;
<br /> �' a provided,.tk+at suc}i npprovsl shall not:be urrreasonably �vithheld. Al! premiums on insurance poliaies shail be paid '
<br /> at .I.ender's oPtion in ihe manner provided under paragt•apl� 2 hereof or by l3orrower makin� payment; when due,
<br /> � directly to the insurance currier_
<br /> � In the event any policy is not renewed on or befoze ten days of its expiration, the T.ender, to protect
<br /> F' � its interest, may procure insurance on the improvements, pay the premiums and such sum shall become
<br /> s:� �' immediately, due and payable with intereat at the rate set forth in said note until paid and shail ' be
<br /> � secured by this Mortgage. Failure bY Borrower to comply may, at option of Lender, eonstitute a default
<br /> � undar the ` terms of this Mortgage.
<br /> � , t All insurance policies and renewnls tliereof ahcill be in iorin acce}Stable to Lcnrler and shall include a standard
<br /> � ixiort�age .clause in favc�r of and in forin acceptabie to Lender. Lender shall l�uve ttte right ta lioid the policies and
<br /> ',, , "; ' renewals thereof, ctnd $oriower si�nli promptly furnish to Lender alI rene�val notiees and all reaeipts pf paid pre- '
<br /> cniums. In the event of loss; ]3orrower sliall give prompt notice to the insurance carrier and Lender, and Lender
<br /> ;; ` inay inake proof of loss if aot mada promptly 1�5� ]3orrower.
<br /> ; "Unless Lender and.Borrowex otherwise ngree in �eriting; insurance pruceeds shall be a�>plied to restoratian -or
<br /> ; � repaii of #.he Property d$maged; provide3 such resiorstion ur rep�ir is econoinic�tilly feasible aud 'tl�e security nf
<br /> � this 1Vlortgage `is not tl;ereby impaired. If such restoration or repair is not economically feasible or if the seourity .
<br /> of this �.qortgage would 6e impaired ; tl�e insurance ��roceeds sl�zll bc applied to the sums seeured by this Mortgage,
<br /> ;� with' the e�ceess, if uny, paid to Sorrower. IS the Yroperty� is abuncioned b}� I3orrotii�er or if I3orrower fails to zespond
<br /> to, Leuder �vithin 30 dnys after notice by Lender to Borrower tliat tl�e insurance carrier offers ta settle a clrsim for
<br /> insurance . benefits, ,Lender is sutl�orized to coilect and upply tUe insuraince proceeds at Lender's option either .to
<br /> � restoration or repair of the Pro�erty or to the sums securec3 by this \Iortgage.
<br /> Unless Lender and Borrower other�vise a�ree in ;vriting, any such application of proceeds to principal shsl]
<br /> ' a nat extend or postpone:fi,he due date of the monthly installmenis referred to in paragraphs 1 and 2 hereof or change
<br /> � the smount o£ such installments: `
<br /> � <' If underparagraph 78 hereof tl�e Property is acyuired by Lender; all right, title and interest of Borrower in
<br /> � and to any insurance policies and in and t.o ttie proceeds ihereof i to tlie extent of ttie sums secured by this Atort-
<br /> &',` " '' gage . immediately prior to such sale or acquisitionj resuiting from damage to L1�e Prcpercy prior to the sale or .
<br /> ncquisition shall pass to Lender.
<br /> 6. Preservation �d Mmaten�ce of Property; Leaseholds; Condominiums. 13orrower sl�all keep t:he Prop-
<br /> �ry ' t erty in good repair and shall not permit or commit �vaste, itnpairmeni, or deterioration of the Yroperty snd shall
<br /> •. , i comply with the provisions of any lease, if this liori�age is on a leaseliold. If this 1lortga�e is on a condominium
<br /> ! unit, Botrower shall perform all of Borrower's obiigations under the deelaration of condominium ar master deed;
<br /> the hy-laws arad re�ula.tions of the condominium ��rojeci anz9 consiituent docwnents.
<br /> ; 7. Protecrioa of Iendeis Security. If Borrower faiis to periorxn the covcnants and a�xeements eontained in
<br /> ti' ; this l-Iortgage, or if any 3cf,ion or proceeding is commenced which materiall,y affects Lender's interest in the Paop-
<br /> , ; erEy, including, but not limited io, emineni domain, insoi�-ency, code enforcetnenc, or zLrrar�emenis or proceed-
<br /> w � ings involving a bankrupt or decedent, then Lender ai I.ender's option, upon notice tq Borrorver, may make such
<br /> appearances, �iisburse �ucl� sums and ta3:e sucii action as is necessary to proteci I.ender's interesi, including, �ut
<br /> nat lSmited to, disbuxsement o# seasonable attorney's fees nnd entry� upan the Pro�>eriv to make reosirs. Any
<br /> � amoeuita dis6ursed by Lender pursuant to this paragrapli 7 , �citli interest thereon, shali beconie additional indeht-
<br /> edness of Borrawer secc�red by this tilortgage. Unless Borro«�er and Leiader agree to other ierms of payment, such
<br /> umounts shall be paysbte upon notice from Lender io Borron�er requesting p�ayment thereof, and shall bear inier- -
<br /> � est from the date of disbursement at t4�e rate stated in the \'ote unless payment of interest at such rate would be
<br /> � eontrary io applica6ie lativ, in rvhieh e�rent sucl� amounts shalt bear inte�est at ihe l�ighest r�te permissible by
<br /> ' applicable law: Nothing cuntained in t6is paragrapli i sh� ll requii•e Lender to incur uny expense or do any sct
<br /> heret�nder. .
<br /> ' 8. Iasvection. Lender mav u,Rl;� nr• � 3,,.� tn ht, �nadc-, reasonat3le entries ul�on and ixr�Uectians of the Fmp-
<br /> ' � erty, provided tl�at Ifender �hali gice Bc�rrou�er notirc ��i•ior t� anr sucl� intpection �;�eci!'vin� reasona}�!e c�u�e
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<br /> . t�2CTG'iDI SG'�$t£�. t0 I.a:Z'i.�CZ�5 .L1tG2"c5t 1Z1. C�I< �I'(J}1�22'L�'. � . �
<br /> ''r 9. Coadefauatioa. The proceeds of �ny a�vard or claim for dx�mssges , direct or consequential, in counection
<br /> " ' with any condemnstiou: or other taking of the Yro�3erty, or' ��ari xhe�reuf; or for con��eyance in lieu oi: condemns-
<br /> � tian, are hereby= ss5igtied and shall be pniti to Lender.
<br /> ` ` In the event of a fotal Caking of the PropecTy, the �iroceed� sl�all Le appliect to ihe su:ns secured i�y f,his �Sort- a
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<br /> . ,- . '. . gage, >vith the exaess, i� ant=; �3aid to Borrvwer: It�. ilie �vent oC a }surtial taking oi t1�e Property ; nnless Borrower . : *�' ;c�+ '
<br /> aad Lender oxherwise a:gree iux a�riting, ii�ere sl�ali be ap�3lied to ti�e �mns secured 67• this '_1.iortga.ge such prD�or- "
<br /> � , ; . tinn n,f the praceeds as is equal Lo Lhat �roportian whict� Lire an�oun� af the sums necured b}� this 14ortgage imme- `' �� �`� �
<br /> 4 �_, diately prior t,o,ftte date of t.aking bears to tl�e fair �nsrke#; �ralue of tl�e Properi}� ixnuaediatePy ��rior to the dste of. g r
<br /> F ± tsking; wit2� #he balauce of �he �roceeds psid tn Borrower: Y, ; .
<br /> { �f the .F�ra#t.ert�y is alxandoned by $arrotivsr or ii sfler noticc by 3_.c�nder to Sorro«�er that the condEmnor offers ,��' "
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<br /> Eo aYa,ak�..uue.sr.ward �n�,�iLie a . i:i�im ivr ua���sges..-B�rruM�ea. Saiis �� respunu co Leu�cier wichia s"f) ciays ot zhe ciate .�;.
<br /> , oS &::L33 'f���3c�:,, .I.�;n3es' ..`+i �1uw2iar��d i�+ �r�lleut nuu aa���iy i,iYr �irw:�i� wi i.v�iuet�', u}�civn eii4ier i,o renwracinn ur
<br /> zepsir af #,he Property or to the sums seeured by ihis _lioatgage.
<br /> �3nless Lendet and Bormwer otherwise agree in writing, any suoh apglicatian of proceeds to principai sl�all
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