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<br /> � If under paragraph 18 hereof the Yroperty ir sold or the Yroperty is otherwise .�cyuired by t,ender, Lender
<br /> shall apply, no later than immediately� prior to t{ie Ealc of tlie Pro�x• rtv m� it � acquisition b,y Leuder, :iny Funde
<br /> IieM by Lender at the time ot application es a credit againrt the �um� �ecure�l b�� this '_biortgage.
<br /> 1n 3. A,pplioafian o! P"aym�nta Unless applieablc law� providee otherwic:e, all puy�nente received by Lender
<br /> G''� under the Note snd paragraplis 1 and 2 hereof sl�all bc ap��lied by l .ender firFt in pe�yment ot amounts payable to
<br /> Ltit I,euder by Borrower under paragrapli 2 l�ereof, theu to intrrest ��ayable on thc Note and on Future Advancee, if
<br /> (j� any, anci ttten ta the principal of the Note and to tfie principal of Future Advances, if any.
<br /> � '�,,,^ {. Cl�rq�s Li�a�. Bozrower st�sil pay al! taxes, aesessments and other charges, finea and impositione attrib-
<br /> � ut,sble te the PmQerty which msy attain a priority over t4is !�fortgage, and ground rents, if any, at Lendes'e
<br /> �' optiqn in the manner provided uuder paragraph 2 hereof or by Borrower �naking payment, when due, directly to
<br /> tho psyee thereof. Borroa�er shall promptly turnisl� to I.ender all notices of amounts due under tl�ie paragrsph ,
<br /> alpd in tlte event Borrower shall tnske payment directly, Borrower siiall promptly furnich to Lender receipts evi-
<br /> d�oiag �uoh payma�te. Barrower �hell promptly discharge any lien which hae priority over this \4ortgage ; pro-
<br /> vided, th�►t Boreuwer ahall not be required to diec4arge any such lien so long as Borrower sliall agree in writing to
<br /> the payeneat af the obligation secuted by such lien in u manner acceptable to I,ender, or shall in good faith contest
<br /> �uah lien by, ot defend eaforcement of suclt lien in , legal ��roceedinge which operate to prevent the enforcement of
<br /> the liea or forfeiture of tl�e Property or any part thereot.
<br /> 5. Ilasard Iosur�c�. Borrower shall keep tLe i�uprovements now existing or hereafter erected on the Prop-
<br /> erty iusured agsinst loee by fire, hazards included within the tern� "extended coverage" , and such other hsaards as
<br /> I.ender may require and in such a�nounts 3nd for sucli periods us I.ender ruay require ; provided , thst Lender ehall
<br /> not require thaL the amount of s�ch coverage exceed that amount of coverage requireci to pay the sums aecured 'by
<br /> this Mortgage.
<br /> The iosurance carrier providing the insurauce shall be chosen by Borrower euhject to approval by Lender ;
<br /> provided, that auch approvst shall not be unreaeonably withheld . All premiums on ineurance policies shall be paid
<br /> at LeAder's option in the manner provided under paragrapl� 'l hereof or by Borrower making payment , when due,
<br /> direoWy W the insurance carrier.
<br /> In the event any policy ie not renewed on or before ten days of ite ezpiretion, the Lender, to protect
<br /> its interest, may procure insurance on the improvemeate, pay tlse premiums and euch eum shail becoene
<br /> immediately due and payable with intereat at the rate set forth in said note until paid and chall be
<br /> secured by thie Morteage. Failure by Borrower to comply may, at option of Lender, constitute a t�fault
<br /> under the teetna of this Mortgage.
<br /> All insursnce �olicies and renewale tY�ereof xhall be in form acceptable to (,e��der and shall include a stundard
<br /> inottgage clause in favor of and in form scceptable to Lender. l.ender shal! lis�•e the right to hold the policies and
<br /> rerse�valo t4ereof, and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid pre-
<br /> miumr. In the event of loss, Borrower sliall give proinpt �iotice to tl�e iusursnce carrier and I.endcr, and Lendet
<br /> may make proof ot lors if not msde promptly by Borrower.
<br /> ' Unla� Lender and Borrower otherwise agree in writing, innw•ance proceeds shsll be applievi to rertorrtion or
<br /> repair of the Property datnaged, provided such restoration or repuir in economicaUy fe»eible und the recurity of
<br /> thi� MortQsge is not thereby impaired. If such restoratio�� ur repair is not economically feasi6le or if the cecurity
<br /> : of thi� 1�1ort6aQe would be impaired , tl�e ine�urance ��roceeds sl�ell be applied to the sums secured by this Mort��e,
<br /> with the exoece, if any, psid to Borrower. If the Yro{�erty is abandoned by Borrower or if Borroaer faile to respond
<br /> to Londer within 30 days after uotiae by Lender to Borrower that the insurance carrier offers to settle a elaim for
<br /> iawranee benefits, Lender is suthorized W coUect and appty the insurance proceeds at I.ender's option either to
<br /> re�Eor�tion or repair of the Property or to the ezums Ececured b}• tliis \ lortgage.
<br /> Unle�rr Lender aud Borrower otherwise agree in writing , an}� such application of proceede to principal elu�ll
<br /> aot extead or postpone the due date of the monthly instailments referreci to in paragraphs 1 and 2 hereof or chaa;e
<br /> ti� amouat of such inatal3mente.
<br /> If uader parsgrsph 18 hereot the Property is acquired by I.ender, all right , title and interest of Borro�ver in
<br /> aad to aay in�rance poticies and in and to the proeeede tliereot lto tL� extent of the sums secured by this Mort-
<br /> �a��e immedistely prior W ruch eale or acquisitionl resulting fram damaRe to the Property prior to the sale or
<br /> soqui�it�on eh�ll pare to Lender.
<br /> L ls�e�atien m�d l�I�em+a of Preprrty: Law6old�; Ce�ado�mieiums. Borrower shall keep the Prop-
<br /> etty in good repsir and ehall not permit or coinmit waste, impairn7ent , or deterioratioii oi the Pro}�etty and ehall
<br /> comply w�ith the provieions of any lease, if this \fortgage is on a leasehold. If this biortgage is on a condomiaium
<br /> uait, Bossower ehall perforn� all of Bortowerb obligations under the declaration of condominium or maeter deed ,
<br /> the by-Is�va snd regulations of the condominiuni �iroject and constituent dceuments.
<br /> 7. !rel�efim eE L�ad�s's S�earily. If Borrower fails to ��erform the covenants and ugreements contained in
<br /> thir Mort�i�e, or if sny setion or prooeeding ie cominenced whic}� inaterially affecte Lender's interest in the Prop-
<br /> etty, includins, but not limited to, eminenc domain , iusol� enc�� , cair enforeenient , ur arrai�emerits or proaeed-
<br /> ia�t involving a bsnkrupL or decedent, then Lender at l.enderb option , upon notice to Borrower, msy m�ke euch
<br /> appearancee, disburse euch eume and take sucli action as is necessary to protect Lender's interect, includine, but
<br /> aot limited to, diebunement of re�ronable attorney's fees and entry upon tht Property to make sepsire. Aay
<br /> snfounta dirburred by I.eeder pursuant to this paragrapL 7 , witl� interest thereon , ehall be�e additional indebt-
<br /> edt�t ot Botrow�er sec�red by this '.�iortgage. Unless Sorrower and I.ender agree to other terms of psyment, such
<br /> smounts ahall be payable upon notice frotu Lender to Borrower reyuesting payment thereof, snd ehall bear inter-
<br /> e�t from the dste of d'ubureement at the rate suted in the Note unless payment of interect at such nte would be
<br /> eoettary to spplicsble lsw, in which event sueh amounts ahall bear interest at the higheet rate permireibie by
<br /> applicrble law. Nothing containcxi in tl�is �iaru�raph 7 shall ��cquirr Lender to incur any expenre or do any act
<br /> beneueder.
<br /> _, I�as1. 1.euJer way iiu►Le w cau� w Ik� wa.I. rrueuuaLic eucrirs u}wu uiNi iue�;twus uf tt� Ptup-
<br /> erty, provided that I.ender shall yi��e Borrox�er notice �»•ior tu �un• .ucl� inapection r�iecifying reasonable cause
<br /> tbwt4r relsted to Lender'� itfterest ia the Froperty.
<br /> !. Ceed�aa. The proceedc of any award or claim ior damages, direct or cocueq�ntial, in oonneetion
<br /> �vith sey eoademaatioa or other takiag of the Property , or ��art tl�c�reof, or for con��eyance in lieu of coadamna- e
<br /> Wss� us haeeby aasi�ed smi sha11 be paid to I.ender.
<br /> In tbe event ot s tutal taking o# the property, the ��roceec{e aliall Lie applic�i to the �urc�s sec�red by this Moet- _ "
<br /> p�e: witl► k6e �emw, if any , }wid W Baerow�r. lw tl�e event of a Ewrcirl tskitfs of tfie Yro}►ertY, unleee Bore�ew�er � +�;'
<br /> ` asli Lwdar Ml�eewire a�+ea ia �rritint. ti�eee shalt be appliecl to the wmr �ecured by tltie :�iortgr�e eueh prapar- �
<br /> t�oa et t�e ptooeeds as is equal to td�st pr+oportison which tJae awouat o!' the aumc secured by t6ie Moet�e ieame-
<br /> � diatedy psint W the dste of talci� bears to the fair uiarlcet value of Ltie Yropeety ima�ed'uLely prior to tlae date of
<br /> witf�, rifi► Mir lwi�ee ff tbe pwe�is pa�e w l�ons.�er.
<br /> it 1iM P�i�r iw �edoaeb by Betrower �r ►f ri�es� iwcioe Uy Iw+oder to Borrower that the condemnor a8ass • � ;
<br /> bf alMbs aR � oe �et+�M s ei�vu 6ae �, Boero�rer fails to reapond to L.emier w�ithia 80 dsyc of the drt�e � �
<br /> e� �uell �isR. L�t�ader is a+rt�ri�ed M eoitieet aweF �iy tie �rooeeds st [.ender'a opt'son efther to reetoestion ot . " °�
<br /> *�e�a�r e} Mw �rore:f,� or tro the ea:aa xruxd bp this �! ortgage.
<br /> L7nlw i.euder wi Sw'ro�w' etie*w�ire ��ee ia w�*itie�, aey arel+ �ppiie�tion of prooeede to principal ehall
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