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<br /> If under paragraph 18 liereof the Yro�iertv is �old or t6c �? •��; � ;; �tuci �vise �icquired b}� I.ender, Lender �
<br />� s}; s'.! uy�,iy , uo iatei iirtn immed!ately j�: �ar to Lhi ;ali uf tne Prot>e� tti or rt� acqui�rtion by Lender, any Funds �
<br />� l�eld hv T �nri �.r t ths t1� ,a vi <eubiicar,ipn a a crec� t agaittat t � �r: .iin +• ecurt � � ,_ � t„s :fori,gugu. �
<br />� 3, npp�iicauon oi t�a.n-�er_!s. ??a:a. � „ppiicaulc l.s«� pi•ovides ottiertvi5�, a11 payments received by Lea�der �
<br /> under tl�e 2�Tote und I>aragrnpl�s 1 �nd 2 l�ereof sl�all be :ipplied Uy 1,ender ficst in payment of aniounts payable to
<br /> � Lender by Sorrower under paragrsnl� 2 liereof, tl�en to intei•est payable. on Che \Totr a „�i ��� Fut� re �„ �s;iues, ii �
<br /> uny; anr� t.l,n., ` to- t!:v �iLi��CIiJFLI Vl ii�e ivoie auci to [he principai of I'uture Advances; if any.
<br /> 4. Charges; Liens. Borrower sl�all pa}� all taxes , assessments anc� other charges, fines und impositions attrib-
<br /> ut,able to tl�e Property which may attain a priority over tliis ��fortgage, and ground rents , if any, at Lender's
<br /> r1 option in the manner provided under paragraPh 2 hereof oi bc� Borro�ver rnaking ��uyment, when due, directly to
<br /> � � CD the payee thereof:' Borrower s}iall promptly fuTnisl� to I.ender all notices of ainotmts due under tliis paragraph ,
<br /> J � � �?�"� and� in the. event Borrower .shall . make )2 711CI1LGITCCLI ' 130SY0\Pel• �ilit� i � il"(iiii`ii.i" fuii;o:; � ^ T �^•� � ^•' ^ ���•+f� a i �
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<br /> er dencing sucl� �ayments. Borrower shall nromptly disciutirge any lien which hns priority over this Mortgage ; pro- �
<br /> �� vided, that Borrower shalf notbe requirecl to discliarge any such ]ieu so long as 13orrower shall agree in writing to
<br /> � the payment of the obligation securecf by such lien in u manner � cce;�+sble to I.ender, or shall in good faith contest
<br /> i � such lien by, or defend enforeement oP suck lien iii , legal proceediugs wl� ich operaie to prevent the enforcement of
<br /> ° ly the lien or forfeiture of the Properiy or any �iart thereof.
<br /> �'1 5. Hazard Insuramce. Borrowei• shsli keea� tlie iu���rov ei:aents now exi,t.ing or hereafter erected on the Prop-
<br /> ; erty insured �gainst loss by fire, hazaids included witl�in the terni "extended coverage ", and such otlier hazards as
<br /> � i.er.der tray rzqu:.-� �.n;? i:. suct; sii:ounts s.nr� fnr suc6 pei•iods as I.ender inay require ; I�rovided, that Lender shall
<br /> noti iequire tl�at tHe amount of such coverage exceed thai amount of cu��eruge reyuired to pay the sums secured 'by �
<br /> this Mortgage.
<br /> The insurance carrier providing tl�e insurauce sl�all be chosen by F3orron•er suUject to approval by Lender ; �
<br /> provided, tl�at such a�proval shall not be unreasonably withheld. All premiums on insurance policies sl�all be paid
<br /> at Lencier's option in tLe manner previdnd unde: pwragru},ii 2 hereoi or i�y Iiorro��-er inaking pnyment, when due,
<br /> direetly to the insurance carrier.
<br /> In the event any policy is not renewed on or hefore ten days of its expiration, the Lender, to protect
<br /> its interest, may procure insurance on the improvements, pay the premiums and such sum shall become
<br /> immediately due and payable with interest at the rate set forth in said note until paid and shall he
<br /> secured by this Mortgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br /> under the terms of this 1Vlortgage.
<br />�` l�:t insura;,ee po:icies aad :cn�wals !!:er�of st��� l ! l,e in iorni accentable t.o I.ender and shall include a standard
<br /> mortgage clause infavor of and in form seceptahlc to Lender. I-,ender sliall liave the right to l� old thc policies und �
<br /> renewals thereoS, and Borrower sha.11 prom�itly furnish to IJender all renewal notices ancl all receipts of paid pre- �
<br /> miums. In tl�e event of loss , Borrower siiall give prornpt iiotice to the insura�ice carrier end Lender, and I,ender
<br /> xnay �nake proof of loss if not made protuptly by 3orro�ver.
<br /> Unless Lender and Borrower otl?er�+�isc agrec in writing, insw•uuce piroceeds shall be x�pplied to restoration or
<br /> repair of ttie Yroperty damaged , provideci such restoration or repair is ecoiiomicsally feasible a�id the security of
<br /> this Niortgage is not thereby impaired. If sucli restorittion or repuir is not economicnlly feasible oi• if tl�e security
<br /> of this 14ortgage would be impaired, the insurance �>roceeds sl�all be applicd to the s�nns secured by this Mortgage,
<br /> with the excess, if any, paid to Bm•rower. Ii t}ie Yroperty is abar��l<med by I3oi•ro�ver or 9f 13orrotver fails to respond
<br /> ' to Lender within 30 days after notice by Lender to Borrower that the insurance carrier offers to settle a claim for
<br /> ' insurance benefits, Lender is authorized to collect and apply ti�e insur�nce proceeds at Lender's option either to
<br /> � restoration or repair of tlie Property or to the sums secured 1��• this �lortgage.
<br /> ` ` Unless Lender and Borroii•er otherwise agree in writinb, an,y such upplict;tion of proceeds to principai shall
<br /> i not extend or postpone the due date of the monthl,y installments referred to in paragrapl�s 1 and 2 hereof or cl�ange
<br /> the amount of such installment.s.
<br /> If under paragrapl� 18 hereof the Yroperty is acquired by 1.e��der, al] right, title tind interest of Borrower in -- -
<br /> and to any insurance policies and in and to the proceeds thereof (to tl�e extent, of the sums secured by* this Mort-
<br /> gage immediately prior to such sale m• i�cquieition ) restilfing irom damage to thc Proge:ty� prior to the sale or
<br /> acquisition shall pass to Lender.
<br />'�` " 6. Prsservation �md MRantencmce of Properiy; Leaseholds; Condominiums. Bortower s}iail keep the P;op-
<br /> ; erty in good repair znd shsll not pertnit or cominit waste, impairmenC, or deierioraiioii oi ilie Y,uyei•�y a,-.d o;a'„ —
<br /> '^• comply with the provisions of any lease, if this � Iortgage i, on a leasehoid. If this l4ortgage is on a condominium
<br /> , unit, Borrower shall perform all of Borrowei's obligations under tl�e declaration of condominium or master deed ,
<br /> the by-laws and regulations of the condoininium �>roject and constituent documei�ts.
<br /> � 7. Protection ot Londer's Security. If Borrower fails to periorin tlie covenants and agreements contained in
<br /> this \4ortgage, or if any action or procecdin� is commenced �vhich mzterislly affects Lender's interest in the Prop-
<br /> erty, including, but not limitecl to, en�inent doinain , iusoh�ency, code enforcement. , or urrcingements or proceed-
<br /> ings involving a bankrupt or decedent, then Lender at I,endei's opt.ion , upon notice to Borro�ver, may make such
<br /> appearances, disburse sucli sums and take sucli sction :-�s is necessary to protect I.ender's interest, including, but
<br /> not limited to, disbursement of reasonuble a6iorney's fees and entry upon the Property to make repairs. Any
<br /> 1 amounts disburseci by Lencler pursuant to tliis psragraph 7 , �vitli intcrest thercon , shall becorue additionai indebt-
<br /> � edness of Borrower secured by this �lortgage. Unless Borrow•er and I.ender agree to other terms of payment, such
<br /> amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shali bear inter-
<br /> est from the date of disbursement at t,l�e rate stAted in the ��ote unless �>ayment of interest at such rate would be
<br /> contrary to applicable la«�, in which event such amounts shall bear interest at the highest rate permissible by
<br /> applicable lnw. �Tothing contained in this ��aragrapli 7 sl�nll require Lender to ineur any e�pense or do any act
<br /> liereunder.
<br /> 8. Inspection. Lender may make or esuee to he madc reason�ble entries upon and inspections of the Prop-
<br /> erty, provided that Lender sl�all give Borro��er notice ��rior to am� �urL inspection specif3>ing reasonable cause
<br /> therefor related to Lender's interest in the Propertti�. —
<br /> �. . . . 9. COIIC�02T1I1Qt10A. � � T110 j�fOCC�l15 Of 71L)V :1WSP[� nr oiwin� + r? �• •e;^ .t—„� 3 � a �;�,y ��� �onsequential, in connection .
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<br /> ' ::i:,i ;,:.y c�;;uciiinaiion or other taking of tlie Pro��cr•Cy , oi• � >ai # thereot , oi• for con��eyance in ]ieu o1 condemna-
<br /> � tion, are hereby assigned and shall be paid t.o I,ender.
<br /> .: In the event of a total taking of t.he Ys•operty , tlte proceeds �hall Le .�pplied to il�c suins secured by this Mort-
<br /> gage, �vith the excess, if any, pnid to Borrower. In the event of a partial taking of the Properiy, unless Borrower -� „ i,
<br /> ' and Lendei otherwise agi•ee in writing, there sliall be app] icd to the sums secured by this �tortguge euch propor- ' '�'�' '
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<br /> i tion of the proceeds as is equai to tliat proportion which tl�e amomit of the smns secured by this :�iortgage imme- ' _?�,
<br /> , , diately prior to tl�e date of taking besrs to t.he fair inarket value of the Propeity immediatelp prior to the date of „,
<br /> 4 taking, with the balance of the proceeds paid tu Borrower. '�s
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<br /> ; ' I f t he Praperty is abandoned by Borrower or it after notice by Lender to Borrorver thai the condeimior offers
<br /> to make an award or'settle a� clai�n for tianisges, IIorrower fails to respond to Leuder within 30 davs ' of the date
<br /> of such notice, I�ender is authorized to collect and a}�ply the proceeds at Lender's aption cither to restoration a�
<br /> reprsir oi tlie Property or to the suins secured by this �lortgage. =� .
<br /> Unless Lender and Borrower othercvise agree in writing, any such application of proceeds to principal sliall
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