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<br /> � If under ��aragrapt� 18 liareof the Yro��erty is sold or the Property is otherwise acyuiz•ed b,y T,ender, Lender �
<br /> shall;apply, no later tl�an immediutely prior to ' the salc of t1�c Pro;rerG,y or its :scquSsition l�y Leiider, :�riy Funds �
<br /> lield by Lender at the time of apF�lication as a credit z��;uinst �lie sums �ecurc�i f�y this �4origu�;e.
<br /> ` 3. Appliaation of Payments. UnIess �pplicakilc lan-_ l�rovides otherwise, ull gayiuents received by I,ender
<br /> under ttie Note;and paragraplis 1 a,nd 2 hereof shall 1�c applie<i 1�y I,ender tir:t_ in �>ayment ot :�mounts gr�,,vuble to
<br /> Zender ,bg B�irtower under l�aragraph 2 l�ei•eaf, then to interest p:Ly�.izlc o�i tiic ?�Tate and on Future Advances, if
<br /> any,, and tben ta the �7rincigal. ot the Nate'anci to the princi�>al of Future :ldvancesy if any.
<br /> y 4. Charges;, Liens. - Iiorrower slaa,7T pay all tases, lssessments and other clissrges, fines and impositions attrib-
<br /> ut�ble. �n the Pxoperty whieh 'may rittain ca prinrSty over tLie �IQrtgage, and �round rents, if �ny, at Lender's
<br /> , � C1j optiori in tiie mannes provided under para�ra�>ti 2 Hereof or l�y ]3orrotiver inaking pnyment, when due; directlq to +
<br /> ^ !'� ; the payee thereaf:" Borro�ver sliali nrorri�tly furnislil ta I,ender ail ; notices of r�mounts' due under this psragraph ,
<br /> : ,, � L!� ' aapd in the ,avent<$orrowea� shall xnake gaynient directly, Borro�ver .shatl promptly furnish to `Lender receipts evi-
<br /> ; �j dencing `sueh gayments. ;Borrower :shall promptly discl�nrge a�iy lien w�hich lias priority over this l7ortgaga; pro-
<br /> � Q ' vided, that 33arro�ver sha,ll not 6e. required to discha2��e �ny such lien so lon� as ]3orro�ver shnll a6ree in writing to
<br /> , j c thepayinent of the obligation secured by such lien. in a inanner acceptable to I,ender, or st�all in �ood faith contest
<br /> +� ,s � suGh lien by, or 'defend enfarcement of sucli lien in ; legal proceedings}vhieh oi�erate to` prevent ihe en£orcement of
<br /> z 1'�, the lien `ar forfeiture of the Property or any part thereof. ` '
<br /> � h 5. Hazazd Insuzance. Borrower s}iall keep tl�e improvements now existin� or tiereafter erected on the Prop-
<br /> '� * ' ' erty insured aguiiist loss kiy fire; hazards included' within the terrn "extended coveruge"� und such other hazards as
<br /> ' ? Lender ;nay require a,nd in suoh amounts and far such F�erSods aa I.ander �nay require ; provicied , thab Lender skiali
<br /> not reqeiire that tl�e amount of sucl� coveTage exceed t,h3t amount of covera�e required to pay the sums secured `by
<br /> , 7 : this Mortgage. ' '
<br /> ., ; The insuranoe carriei• i>raviding tiie insurat�ce si�all be cliosen by Borrorvei• suE�ject to alapravut by Lender;
<br /> � ' provided, that suck� a�provai shall �iot be unreusonably withheld : All premiums on insurance policies slrall be paid
<br /> � ' st Lender's option ici tlie manner pravided under ��aragrapl� '2 hereof or by I3orroiver making pn,yment, when due,
<br /> xdirectly`,to the insurance oarrier.
<br /> : - Im the event any policy is not renewed on ar before ten days of its expiration, the Lender, to protect `
<br /> � d its intezest, may procure insurance on the improvements, pay the premiums and such sum shall become
<br /> , - s immediately due and payable 'with"interest at the rate set forth in said note until paid and shali be
<br /> � secured ' by this Mortgage. Failure by Borrower to comply rnay, at option of Lender, constitute a default
<br /> under the terms of this` Mortgage.
<br /> ' ti All insurance �olicies and renewals til�ereof shall !ae in forrn acceptable to I:ender and shall include a standard
<br /> � - ; : ' inortgage clause in fa.vor of snd 'in .form acceptable ,to Lender: Leuder shall l�sve the right to l�old the F�olicies and
<br /> `.`; � renewals thereuf, and Borrower shall �iromptly furnish to Lender al1 renetival notices und z�iP reoeipts of paid pre-
<br /> k ' iniums In the event of Toss, Borro�ver shall give prompt notice to the insurance curriez and Lender, und I;ender
<br /> f '� may make proof of lose if not 'made pron�ptly by Borrower.
<br /> � Unless Lender and Borrower otherwise agree in writing, insurance proceeds shnil bc upplied to restoration or
<br /> ' repair ot the Property dan�aged , provided such restoration or repnir is ei�onoinicallv fcasible and ihe security of
<br /> ' ` this Mortgage is not thereby impaired. If such restoration or repsir is �:3ot economically feasible or if the security
<br /> : 1 of this Aiortgage would be iTnpaired, tl�e insurance proceeds shall be apFjlied to the sunls secureci by this i�fortgage,
<br /> A with filYe excess, if anp, paid to Borrowez•. If the Yroperty is abandoned by Borro�ver or it Borrower fails io respond
<br /> ' ; to Lender rviLhin 30 days after notice by I,ender to Borroc4rer tl��t tl�e insurance carrier offers to settle a claim' fnr
<br /> ', � insurencebenefits, Lender is authorized to calleet and apply; thc insurance proceeds at Lender's option either to
<br /> restoration or repair; of the Pro��erty or to the sums secured bg tliis hlortgage:
<br /> ; � Unless Lender and Borrower otherwise agree in writing; az�y such appliestion of proceeds to principsl shall
<br /> ` � not eyttend or postpone the due daie of tlie inonthly installu�ents referred to in paragrxphs 1 and 2 hereof or change
<br /> � z the smount of such installments.
<br /> If under paragraph 18 hereof the ProQerty is acquired by Lender, all right, title a�nd interest of Borrower in
<br /> � a;nd to any insurance polioies �nd in and to the proceeds tliereof (to tli� exteni uf the sums secured by this illort-
<br /> , � gage immediately prior to snch sale or acquisitionj resuliing from dsuinge to the Property prior to the sale or
<br /> - . � acquieiGion shall pass to Leuder.
<br /> 6: Preservation �d Mmateaemce of Property; Leaseholds; Condomiaiums. IIorrower shull keep the Prop-
<br /> . , 9 erty in good repair and shall not permit or cotnmit tivttste, impairment, or deterioration of the Property and shall
<br /> • couzply with tl�e provisions of any lease, if this 1lortgage is on a leaseliold. If this �iortgage is on n condominium
<br /> ' ; unit„ Borrower shall perfarnj all of Borrower's obligations vnder the declaration of condominium or master deed ,
<br /> � the by.iaws and regulations of the condominium project and constituent documents.
<br /> 7. Pruteetion of Lendei s Seeurity. If Borrower fails to �7eriorm the covennnts nnd agreeinents contained in
<br /> � this Martgsge, or if any action or proceeding is cocnmenced which inaterialtv affects Lender's interest in the Prop-
<br /> ° ; erty, including; but not dimited to; emineni doi�3ain;' insalvency , code eiiforcement, or urr:xngements or proceed-
<br /> ; � inga involving a Uankrupt or decedent, then Lender at 1,ender's option , upon notice to Borrowei; may make such
<br /> ' ? appearsnces,' disburse sucli sums and take such action ns i� nec.essary� to protect Lender's interest, including, but
<br /> � not limited to; disburuement of reasonable attorney's tees and entry upoii the 1'roperGy to inske repz�,us. Any
<br /> amounta disbursed by Lender pursuant to this psragrapli 7 , tivith interest thereou, shall become additianal indebtc
<br /> k ` edness of Borrower securedby this �Iortgage. Unless Borrowei• a�nd Lender agree to other terms of nayment, such
<br /> � amounts s1�all be payable npon notice from Lender to Borroa•er requesting pxyment tliereof , and ahall hear inter-
<br /> `' ? ' est from the date of disbursement at the rute atttted in t1�e �'ote unless �aymeni of interest at such rate woutd be ?
<br /> aontrary to a�plicable Ia�v, in which event sucl� amounts shall bear interest at the highest rate permiasible by
<br /> ; ; applicable law. Nothing contnineci in tliis ��arugraPli 7 sl�nll rec�uire I,ender to ir�cur any expense or do any act
<br /> hereunder.
<br /> ; 8. Inspealion. Leuder inay u�ake or cause ta l�c �nadc reasonnble entrie; upon i�nd ir�spection� of tlie Pmp-
<br /> ! erty, Provided that Lender sliull gi�•e Boerow•eT notirc l�i•io�• to :1ny sucic inspectios3 sliecifying reasonable cause
<br /> � l.h�refor relate�i t,o Leuder's inceresi in ihe Properuy.
<br /> ' ' 9. Condemnakion. The proceeds of any arvard oi� ciaini foi• da�n�ges, direct or coriseyuentisl, in connection
<br /> , ; � with ang Gondemnation or other` tsking of fhe Property, urpart tl�ereof , urfor conveyance in lieu of condemna-
<br /> '; ,� + tion, are hereby t�ssigned and shall be paid to Lendei:
<br /> ' � ; , In the event of a total talcing of the Propertv, tl�e proceeiis sliall l,e 3ppliecl to tlie suins secured by this Mort- . �`� r f
<br /> ` € . �;agG;'wittr'f,h�. excess, if any, paid to Borron�er. Ii1 thc event of a partial tnking of the YroPerty, �inless Borrower "'�" a �`�
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<br /> ' an'rl Le�idBr o61�eTwise agree in writing, tl�ere sl�all be applie�l to tl�e sums secured b5 this �iort�age such propor- � �` ' '
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<br /> .a � tion of t,lie prtaceeds ti.s is equal to thut proportion which t}ie`nmount bf the sums secured by this biortgage imme- ` �`r
<br /> ��'� . . . . . . � . �� ,
<br /> diately prior tq the, date of taking bears to t,l�e Fair tnarket r•alue of tlie Prc�aert�* immediatel_y prior to the date of �p
<br /> , taking, with -Lhebaisuceof.;theproceedspaidtoSoixower. � " ��;
<br /> ,�� t if.S�he 1'roperGy is abandomad by Bvrroiver or if t�ftsr notice by Lender to Borrozver tlia't the condemnor offers ' �?� *
<br /> .� � a to ma�Ce an award or sett:e a claim for damages, 13oxrower Fails to reepond to Lender �s�ithin 30 days of the date "' "
<br /> a . . � bi sueF� �aotiee; �.ejnder is z�u�hoFize�l to collect and ap�>ly the �?roceeds at Lender's uption either to restoration or """""' """
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<br /> '•; , � repair of the Property ar Lo the auins secure�d by ti�is _liortgsge. "'
<br /> �' ' Unlesa Lender and Boi�ro�vei• ottaer�viseisgrea in writing; any such application of procesde to principal shsli
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