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<br /> If uader paragraQh 18 hereof the Property is sold ur tlie Yroperty is otherwise acquired Uy Lender, I.ender �
<br /> shall apply, no Iater than imenediately prior to thc sale of tlre Yroperty or its acquisition by Lcnder, any Funds
<br /> held by Lender at Ehe time 4f spplication as a credit againat tlie euitis secured by this Mortgage.
<br /> 8, �ptioAtlfoa ot payaMot�, Unless apriicablc lax� provides otherwieze, all paymente received by Lender
<br /> � upder tlfe Nvte aad I�i'sBrePiie 1 and 2 laereot shail tic apE�liec9 by ixnder firat i� payment of amounts payable to
<br /> � I,�nder by Bnsto�w� u�der psragrapiz 2 hereof, then to intereat �taya6le on tlie Not,e and on Future Advances, if
<br /> � �y 4�� ���{ s!���nAd �t�l� pr�a�ci��sents wnd other�ehergee, �finee and impositione attrib-
<br /> � CO � to tbe Prop�erty wheeh may attain a priority over tl�is �iortgage, and ground rents, if any, st Lender's
<br /> � optias� in the msaa�rr Pravsidat w►der pasagraph 2 hereof ar by Borrower inaking paysneat, when due, ditectly to
<br /> tirs psyee thereaf. Borrower shsli prom�tly furniah to I.ender all notices of amouiits due under thia psragraph,
<br /> • �,frd ja t�e ev�t Borx>wtr ahsll malce payment directly, BorroR•er shall promptly fumiah to Lender receipte evi-
<br /> � d�eia� weh {uyaiantat. Borrnwer ehail pro�ptly disciiarge any lien which hae priority over thie Mortgsge ; pra
<br /> y�� �� $q�rpy��! �y}� n�, be required to diacharge any sucle lien so long us Borrower aha�ll agtee in writius to
<br /> tJ�e p��tent of the obli�stion seoured by auch lien in ii �netnner acceptable W Lender, or' shall "in good faith conte�t
<br /> �eh liew by, or defend enforcement of such lien in, legal proceedings wl�ich operate to prevent the enforcement o!
<br /> the lien or forfeiture oi the Praperty or sny ��srt thereof.
<br /> 5, � lewreae�. Bortower shall keep tl�e improvements now existing or hereafter erected on the Prop-
<br /> esty inrured a�sinst lore by &re, hazsrde inoluded within the term "extended coverege", and auch ottier hasasds as
<br /> I,endee twy taquire and ia eueh amounts and tor such periods as Lender may require ; provided, thst Lender slull
<br /> nol� reqMire tltat the amount of aueh coverage exceed that smount of coverage required to pay the sume secused 'by
<br /> � The�ee carrier providing tite insurance shall be chosen by Borrower subject to spproval by Lender ;
<br /> provided, that such appmval ehal! not be unreasonably withheld. All premiums on insurance polieies shall be paid
<br /> at Lender'a opLioa in tlie msaner provided under paragrapli '2 hereof or by Borrower making payment, when due,
<br /> dihetly to the insuranee eurier.
<br /> In tbe event anY policy ie not renewed on or before ten days of it8 ezpintion, the Lender, to protect
<br /> itr intesest, may procure ineusance on the improvemente. paY the premiums and such sum ahall beeome
<br /> i�unedi�tely dus and payable with interest at the rate eet forth in eaid note until pnid and ehall be
<br /> oscured by this Most�r�e. Failure by Borrower to comply cnay, at option of Lender, conetatute a default
<br /> under the temos of this MortQage.
<br /> All ineursnce policies and renewals thereof shall be in form acceptabie to Lender and shall include a stenderd
<br /> �noet�e claure in favor of and in form scceptebie to Lender. Lender shali have the right to hold the poiicies and
<br /> trnewals theeeof, aad Borsower shall promptly furniah to Lender all renewa! notices� snd all receipt� of psid pre-
<br /> atium�. In the evenL of lorr, Borrower shall give prompt notice to the insurance carrier snd Lender, snd I.ender
<br /> may mske proof of low if not mrde promQtly by Borrower.
<br /> Uniw j,ender sad Borrower otherwise agree in writing, insurance proceeds shalt be spplied to restorntioR or
<br /> � cep�is of the Pe�operty damsged, provided euch restoration or repair ie econoniically feaeible and the aeeurity of
<br /> t,hi� Mort�a6e is not tl�ereby impaired. IT such reetoration or repair is not ewnomiealiy feaQible or if the eecuriEy
<br /> of t6ia Moet�e would be impaired, tlie insurance proceeds shall be applied to the sums secured by thir Mort�e,
<br /> witlf CI� excers, if any, paid to Borrower. If ttre Yroperty is abandoued by Borrower or if Borrower fsila to sespond
<br /> fo Lendes witbin 30 dpys after notice by I.ender to Borrower that the ineurance carrier oSere to settle s eisise for
<br /> itiu�a�oe beOeRts, Lendet is suthoriaed W eollect and apply the insuranee proceacir at Lender's optioa •ither to ,
<br /> ra�toesrim or repair of the Property or to the sums aecur«i by tliis Afortgage.
<br /> Qa1� Lendct aad Borrower otherwise agree in writing, any such application ot proceeds to prineipsl dutl
<br /> �, op0 �actend or po�tpoae the du�e date of the monthly inetsliments referred to in parsgraphs 1 and 2 heteof or ehan�e
<br /> tM a.o�t ot woh iosEsllmeats.
<br /> It usdar pata�rsph 18 heroof the Property ie scquired by Lender, all right, title and intsrest of Borro�ver in
<br /> asd to aoy iauuranee polioits and in and to the proceede thereof lto the extent of the sutns secured by this Mat-
<br /> yye jespnediately prior to wch ssle or acquieition ) resulting irom damage to the Froperty prior to the rsbe or
<br /> sequldtloa r6all pars to Letuder.
<br /> �, � �d �e�1�sm�o� oE psop�ely; Iwawhdda: Ceodomioiums. Borrower ohall keep the Psop-
<br /> • eety io eood repsir aad �hrll not permit or comwit waste, impairment, or deterioration of the Property and shall
<br /> s ooa�pty vith the pmvuiouo of any leaee, if this �fort¢age is on a leesehold . If this Mortgage is on a condominium
<br /> ! unft, 8,otapwec ehsll perfoem sil of Borrower's obligations under the declaration of condominium or master deed,
<br /> � tbs b�r�iawti a,ed x�ulatiane of the condominiun� project and constituent documents.
<br /> �. llerbqiaw �! Lrd�r's S�a�e�tY• If Borrower fails to }xrform the covenante and agreemente contained in
<br /> i flfi� lltartp�e, or if any soEion or proeeeding ie commenced which materislly a�ects I.ender's interert in the Prop-
<br /> i N�t�, isoludia�, bnt not limited to, emiaent domain, in�ol�•ency , code enforcement, or arrangements or prooeed-
<br /> iilyr ��oivieg a bsnkrupt or decedeat, then Lender at l.ender's option , upon notice to Borrower, may make ruah
<br /> ippYesnoes, disburse sssch eume and tske such setion as is neceseary to protect I.ender's intereet, ineltiding, but
<br /> yst 1i�iEed Lo, di�bureement of eeawasble attorney's fees aad entry upon the Property to make repairs. Aay
<br /> aewuay d'abuaed by I,sAder punuant to thir paratraph 7, with intereet thereoa , shall beeome sdditiooal indebtc
<br /> 1d1ar� ot goerower aecured by this MortasQe. Unless Borrower and I,ender age�ae to ot6e� terms of payment, aueh
<br /> � a�uy �hall be payshte upon n�,ice fzom Lender to Borrower requesting payment tfiee�eof, and shall bear iwter-
<br /> Mt from td►e daLe ot dirbureenunL st the rate stated in the Note unlees payment ot interest at such tate would be
<br /> erEe+aey to a�li�ble lsw�, u+ wliiat� event eueh amounts ehall bear intereet at the highest nte permis�ible by
<br /> appbe�bM I�w. Net6ins oonta�ned in this raragraph 7 shall rec�uire Lender to incur auy expense or do aay sot
<br /> 6�wrrar.
<br /> �. il�rel�, t,ender may malce ar otuse to be made reasonsblc entries upo�n ae►d inepeetioor of the Prap-
<br /> ��yr p�uoMd Lhtt �i.eedet shall pve Bo�ro�ver aaeu�e �+rioi• tu uuy sucla iva��atiun s��ea;ifyityr, c�xso�ble cause
<br /> f11�e�r reiaRed 6s i�eedar's istarat ia the Property.
<br /> '� Q�iNMIbw, 'The prooeeds of aay award or elsim for dama��e�r, diseeC or eonrequential, in eonae�io�n
<br /> � �Jt p4� oe�da�w�Rios ee otLer takin� of t6e Property. os• ��urt tl�reof, or tor con�•eysnce in lieu of coademna- �
<br /> � �iM�. �p 1NnbY a�iped rad rheli lae �id to Leode�.
<br /> ?st f�e eveat o! s totsl talc'tn; of the Peoperty, the prueeeds ehall lie ap{rlied to the su►ns secured by this Mort- ;� -
<br /> �, siYY � �nrae�s, it aay,. Paid Lo Bae�►*re�r. Ia t�+e avest of s }wttiri takia` of ti►e Property> uale�s Baeno�er _. , ._,
<br /> a�Mi L�' qtbrn�irs a�oee aa �re�. tS�ece td�a!! he applied to tix wa+s eecured by this Moctp�e euah P�1�'- :^
<br /> �, ` 4�rai !1M �eerdt s� it e�r! te tl�aat Pt�oPoet�ioe �Mieh tJ�e atimuat of tbe sutes eeeueed by this �torti�e ism�e-
<br /> •
<br /> IirMl�► }eior b! tJ� �M Yt br1�e[ bMts to tire f#ie �nseloet value ot Wte Pra}�e�y immedistely prios to t�e d�e of � ':,
<br /> •W�i� �11t�i�iriw+�t f� re�wds p�aiel te Soeanwer-
<br /> .' $�1 P� if s�ed b7 �'eRsow�es' oe if t►tt+� not�ce by t.ender w Iiorrew�er that the 000demnoe oHara ; r•.�� ,
<br /> � Ii! �Y� M! MrMMi Me �rRt�s a N�n !ee' dsmyes. �oe�'x ias�s to raµ�oed W I.euder wiE�iiu 30 dayr ot the drf�e � �_;�
<br /> fi �E +A�411i4 �, �L�M�I�et ±� � bs ool�eet awFl +PI�Y � P�$ st I.en�r's option either w restoration or `'
<br /> �" t �rNiM�e � iM F�pM�?!� �e M 11re wrM a�ui+ad by Ndi� ltost�e.
<br /> $�py, j,ww�• +ual $aiawwpr atberwSse a�t�e ia writia�, say auch applicatioa of proceede to principal• �halt
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