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<br /> �y If under paragruph 18 hsreof the Yropert�� is sald or the i'roperty is other�rise acquired by Lender, Lender
<br /> ; shall apply; no lnter thun imix�ediaie?y prior to t}ic salc oi tlzr Yro��erty or its acquisii:ion b}• 7,ender, :l�ty- Fuiids
<br /> held by Lender at tlie timc of applicakion �5 u creciit u�;ain5t il�c suuis •.eciircd h}• tlii. \Inrtgage.
<br /> "V 3. Applicatioa of Paymesifs. Uxileas a����licaL�Ic la�i� �>rovi<ieti ofhercc�t c, :tll ��a�'ivents ��eceivcd by I.euder
<br /> �� � zu7der tt�e NoY,e and para�rapk�s �1 :�nci 2 Iz�rcof ,slralt � E�c np��lier� �1�3� Lera��ier� first in payiilcni. of aznounts payable tn �
<br /> ^ , S.ander by Borro�ver tiinder paragrapi� 2 liei•eof,. Gtien to intr.rest. }ntiyai�lc an rl�e \ote �and an Future A<ivances, if
<br /> � : uny, and then fo the,princi�al of the �ote €tnd to the princi�aal �f Futurc :�<3uanee�, if aii}�.
<br /> ' } J'h3 4. Charges; Liens. Borroner sitall pa}� all tsxes; assessinenus aud o"ther churaes, fxnes nnd impositions uttrib-
<br /> � utt�ble ta the; Property which may attain s jarioriGy over tl� is \3oa•tgage , anri ground rents; if a�ny , at. Lender'c�
<br /> r #�—► optiion in the manner provided under ��aragrnhh 2 hereof or kry I3orrawer xnaking Faz�ymenG; wl�eii duc, directiv fo
<br /> + �,�„ the payee thereof. Borrowei shull promptly furiiish to l ;endcr all notices ui amounts due uncier t}iis para�rapY�,
<br /> und: in th� event Barrower shall make pay�inent direetly; I3orro�e.er si�all proYx�pt.i�� furnish to I.ender receipts evi-
<br /> ; dencing suelr payments. Borrotiver si�alt Fironiptly disc6arge L� ny lien wl�ic}Y has priority over this :ltortgage ;'pro-
<br /> vided, t�ut Borrower siiall not be requirecl to disci�argc nny such lien so long as Borrowar shall agree in writing to
<br /> the payment of-the obligation`secured by sucli lien in a manner .iccept,� t�le io Lender, or shsli in �ood faith contest
<br /> ,', such lien uy„ or defena enforcement . of sucli lien in ; legal proceedings ���hickz operate t,o preve�it t.he entorcement of
<br /> Clie 'lien or forfeiture of the Property or uny part t.hereof:
<br /> 5. Hazard fnsuzanee. Borrower shatl keep 'tlie i�nprovements no�v existing or hereafter erected on the Pro�-
<br /> ertq insured ,�gainst loss by fire, hnzards ineluded witi�in the term "estended coverage", :4nd such other hazards as
<br /> t.ender rnay require nnd in such �mounts �nd for suci� periods ;�s Lender niay requzre ; provided , that Lender shall
<br /> not require thst f,l�e amounG of such co��erAge exceed il�at r�niount of rover3ge required 'co pay the suins secured 'by
<br /> this lrIortga�e:.
<br /> �'he insuranae carrier praviding iLe insuruncc stiait t�e chosen bt< I3orro�ver sui�ject to ap�rovat by Lender ;
<br /> provided , tliat sucM approval shall not !�e unreas�nubay withheld. _+.Il �remiums on insurunce ��olicies �heall l�e psid
<br /> at Lender's option in 'the manner provided under pe�rsgraph 2 hereof or by }3orrorver making payment, when due,
<br /> ; ' directIy io idie insuiance carrier.
<br /> Tn the .event any �olicy is not renewed on or before ten days of its expiration, the: Lender, to protect
<br /> its interest, muy procure insurance on the improvements, pay the pretniums and such sum shall become
<br /> immediately due and payable with interest at t:he rate set forth in said note until paid and shall be
<br /> secured Uy this Mortgage. Failure by Borrower to comply may, at option of Lender, constitute a defauit
<br /> ' under the terms of this Mortgage.
<br /> All insurance �aolicies an�! renewexls thereol shall b� in forin acceptablr to I.ender snd �k�xll inoltu3e a standai•d
<br /> mortgage clause in f�vor of and in form acceptable ta Lencler. Lender shall h:�ve t6e riyht to hoid the policies 3nd
<br /> renewals thereof, and Borrower shall �romptl,y iurnisl� to Lender c�ll rene�r-al uotices and all reeeipts oi paid pre-
<br /> miums. �n the event oi loss, Borrower si3al2 give pro:npt iiutice io i,f�e iiisurance carrier and Lender, and Lender
<br /> may znalte proof oF loss if not made promptly �y 13arrower.
<br /> iTi�less Lender and Borrower other�vise agree in �vrit.ing, in;ur�nce ��rarseds shali be appliecl to resLoration or
<br /> re�air of the Property damaged, provided such resturation or repair is erunomicully ieasible and the security of
<br /> this 13ortgage is not thereby impaired. If such restoration or repair is not econoinicalt}- feasible or if the security
<br /> of this �4artguge would be impaired , tl�e insurance t�roceeds sl�sll be appliea to the sucns secured �y this Itiortgage,
<br /> with the excess, if 3ny, paid to Borrox�er. If Llie 1'roperty is abandoned t�y ]3orrowcr or if 13orrocver fails to respond
<br /> to Lender within 30 days afier notice by Lender to Borrotic�er that che insurnnce cnrY•ier offers to seitle m claim for
<br /> insuranee benefits; Ivender is authorized io collect and appl}F ihe insurance proceeds at Lender's option either to
<br /> i•estoration or repnir of thc 1'roperty or to tl�e sums secured by this �iortga�e.
<br /> Uniess Lender and Borrocc•er otherwise agree iv writing, any such application of proceeds 'to prineipal shail
<br /> not extend or postpone the due dste of the rnontlil,y installments referre�l to in pnra�raphs 1 anci 2 hereof or cl�snge
<br /> f the amount of such installments.
<br /> ' If under ��amgraph: 18 hereof the Yroperty is acquired by Lender, sll i•ight, tiile �nd interest of Borrower in
<br /> a xnd to an,V insurance policies und in ancl io tlie proceeds tliereoS ( to the extei�t of t>>e sums secured bv this h3ort-
<br /> gage immediately prior to such sale or acquisitionl re.iiliin�; irom damage zo the Yropeit�� prior to the sale or
<br /> acquisition shall pass to I:ender.
<br /> 6. Freservation mid Mmntenance of Property; Leaseholds: Condominiums. Borrower shall keep the Yrop-
<br /> erty in gaod repair snd shalk not permit or commit �caste, impairment, or deterioration of the Yroperty and sliall
<br /> comply wit,h the provisions oi any lease, if tl�is ASorigage is on s leaseliold . If this 1lortgage is an a conilorninium
<br /> llIIlt, Borrower� shall perform all oi $orrower's obligaiious under itae dectaration OS condoininium nr master deed � � � �
<br /> the by-laws and regulations oi tl�e condominium project and const,ii:�ien 't documents.
<br /> , 7. Protection of Lender's Security. If 73orro�ver fails io periorm the cuvenants and agreements contained in
<br /> this 1lortgage, or if any action or proceeding is couimenced whiclx inaterially atTects Lender 's interest in the Prop-
<br /> erty, inc3uding, k�ut not limited to, eininent domum msolc ency, codc enforceenent, or arrangements ar proceed-
<br /> '. ings involving s Uankrupt or decedent, tlien Lendei at l.endcr � opLion , upon noiice to Borrower, ma,y make such
<br /> appearaaees, disburse sucl� sutns and take such uatiaif :as i� ��ccessary io proteci Lender's iiiierest, including, but
<br /> not iiiniced io, riisbursemeni oi reasonable attorney 's fees and entry upon the Yropert;• to 7naice repairs. Any
<br /> ; amounts disliursed by Lender pursuani co this paragrapl� 7 , wiL1i interest thereon , shall beco�ne additionAl indebt-
<br /> ` edness of Borrowser se�umd b3• t,his 1lortgage. Unless Borrower and Lender ugree to other tenns of pa,ymeat, such
<br /> � amounts shnll be pa_yable uE�on notice from I.ender t.o Borrower reque&Ling ,�uyment ti�ereof , and shall bear inter-
<br /> , ; est from the dute of disbursement at the rst.e stated in tlie i�'ote unless payrnent af interest at such rate would he
<br /> contrary to applicable law, in wl�ich event such amounts shal! bear interest ai the hi�iiecx. rs�te permi�sable bp
<br /> applicable daw. Nothing contained in this paragrnpla 7 shall x•equirc I,e�ide3• to incur uny expense or do ta.ny act
<br /> hereunder.
<br /> 8. Inapectian. Lr.nder may inrike or cause to he made x•e�sonal�le entries upon a�d inspections of the Prop-
<br /> erty; provided thai �;ender shal] give $orrower noti�r prSc>r to ;iriy �u��h i �i<f�ecti�n ���ecifyin� reaeonahle cause
<br /> � � t}±er�for re!a±ed t9 Lender's i^terest ir. t?:c Z'ropc:Es�. �
<br /> t 9. Condemaation. Tl�e proeeeds of any award �r riairo ior ciiunages, direct or cansequentinl , in conz�ection
<br /> with ,ar�y oandemnation or other taking or t.he Yroperty , or part rhereoi, or for con�-eyance in }ieu of condemna-
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<br /> tion, are hereby assigned and sh �ll bc puid to Le�ider.
<br /> ' � In tFve� event of a t�otal taking of che ProVert�y; t�he proree,ds rliall be �pp3ii�d to tlxe sisme secured b}� this IlZori-
<br /> � � gage, tirith ihe exee�s , if any, paid #o Borrower. In tl�e event c�f a parcial t�.king of the Yroperty , unless Borrower �� � � ` � '
<br /> aud Lender otl�er�vise agree in �s•riiin�. there sl�ali be ap�>lied to clie suans secured by t.l�is \iortgage such pi•opor- � +� '�",��^
<br /> � tion a# the �raceeds as is equat to tl»i proE�ortion «�hieh tlie uxnouat of ihc. sums secared by this vlortgage imme- »��
<br /> di�taly prior to the date of taking bears to tl�e iair m:3rkeG �•alue of {��e Pi•o�ert�� 9mrnediatelv prior to the date of + "-`;"
<br /> � taking; with the bnlazice of the �roceeds psid ta 23orrower. � `�a`"=
<br /> if the Property is abandoned by Boxrower or it aiter not,ice b3� Lender to Borron�er ihai the condemnar offers
<br />� � � CO iM3wi� .^..II 'di4s22Y�. 0i uCt'��C Fi GF.+lLI �Ql"- fltbi118(�ycb{ JL301'tURCi'. ltLlltl Lt] TC.4�)UALL LO � 1�C11UCi' li1LtI1T1 s3U aByS OI 21TE C�81�C � F �
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<br /> , , ef Su.^� ._�t1^�, r en��r xS �u:ho,..;.ed .t:. Cz�:'.�ct :.s�� a}:f�'.�' tL. �1rui 4��� at L�uuer � u}��iuci ciciiar io rr.staratiott or
<br /> repais of the Propertv or to tbe sun�s secured by this \Ioct�a�e. " '
<br /> ' L1nleas I.ender a:nd Borruiver otlaenvisa agree in �vriting, auy such app?ication of proceeds to princi�sl sl�all
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