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<br /> If utader parsgraph 18 hereof t.he Property is sold or the Property is otherwise ucyuired by 1.ender, Lender
<br /> shall spply, no later than immediately prior to the salc of thc Pro�Krly or it, acqui�:ition b,y I.ender, any Funds
<br /> held by Lender at the time of application as a credit againwt the sums necured by this 9�tortgage.
<br /> 9. �p�eoliop of P4yaMnts. Unless applicablc Iax� provides otherwise, all payments received by Lender
<br /> under the Note +�nd paragraptis 1 sad 2 hereof sl�all bc ap��lied by I.ender first i� payment o[ amovnts payable to
<br /> I.ender by Borrower under paragrspl� 2 hereof, theu tu interest i�ayable on tiie Note and on Future Advsnc�, if
<br /> any, wid then to Lhe priacipal of the Note and to the pridcipal of Future Acivancee , if any.
<br /> {, �; Li�ea. Aosso+ver sLal! j.�sy aU taxes, aeseesments and other cliargea, finea and impositions sttrib- �
<br /> t+�tbJs to the Property whiafi msy attsin a �riority over this �fortgage, and ground rente, if any , st Lender's
<br /> o�MCi�an in t1�e m#naer p�+ovided uuder paragro(�h 2 hereof or by Borruwer msking payment , when due, directly to
<br /> the payee t6ereof. Bortoaer ahall promptly furniel� to Lender all noticee of an�ounts due under thie paragraph ,
<br /> apd ip the eveat Borrower ehall u�ake psyment direcWy, Borrower ehall promptly furnish to Lender receipts evi-
<br /> d�aaingiuch paymentx. Borrnwer s6a11 promptly discharge suy lien which has priority over thie Mottgage ; pro-
<br /> � rided, thwt Borrower shsll not be reyuized to disc6arge any sucL lien so long as Bormwer shall agree in writing to
<br /> � t6s ¢aymeat of the obliestion eeaureci by such lien in u manner acceptable to I.ender, or ehall in good faith conteat
<br /> � Mieh licp by, or defead enforcetnent oF sucli lien in , legal proceedings �vhich operate to prevent the enforcement of
<br /> � the lie�n ar forfeiture of the Property or sny ��art thereof.
<br /> 0 5. ffm�d ie�urme�. Botrower shall keep the improvements now existin� or I�ereafter erected on the Prop-
<br /> � erty insured sQaintt lose by fire, hazards included within tk►e term "extended coverage", and euch otlier hazards as
<br /> I.andermay require and in such amounts and for such pericxis us I.ender may require ; provided , that Lender ehsU
<br /> nnt roquire thet the amount of such eoverage exceed that amount of coverage reyuired to pay the suma eectued 'by
<br /> � � thir Atortp�+e.
<br /> ^ The insurance carrier providing tl�e insuraiice shall t�e cUosen by Borrower subject to approval by Lender ;
<br /> p�vided, that sueh approval shall not be wuessonably withheld. All premiums on ineurance policies shall be paid
<br /> at Lender's option in tlie maaner provided under paragraph 2 hereof or by Borrower making payment, when due,
<br /> diseotly to the ineurance carrier.
<br /> In the eveat any policy is not renewed on or befone ten daye of its ezpiration, the I,ender, to protect
<br /> ite intereet, may procure ineuratace on the improvements, pay the premiums and such aum ehsll become
<br /> ia�med9ately due and payable with interest at the rate set forth in said note until paid and ehall be
<br /> aecured by thi� Mortsege. Failure by Borrower to comply may, at option of Lender, conetitute a default
<br /> �der tl�e teims of this Mortga`e.
<br /> All ineurance poiicies and renewalE thereaf shall be in form ucceptable to I.ender and Rhall include a standard
<br /> teort;aQe clsuee in favor of and in form acceptable to Lender. I.ender shall have the rigl�t to l�old the policiea and
<br /> re�etvalr thereo[, sad Borrower ehell prompWy furnisli to Lender all renewai notices and r�ll receipts of paid pro-
<br /> miums. In the event of loes, Bormwer sliall give pron�pt notice t.o the insurance currier and Lender, and Lender
<br /> may make proof of locs if not made prompWy by Borrower.
<br /> Unle�r Lender aud Borrc+wer othetwise agree in writing, insurance proceeds shall be applied to restoration or
<br /> rq�sir of the Property damaged, provided such restoration or repair is econo�uicully feasible and the security of
<br /> tYY Dvlo�t�e ie not t4aereby impsired. If �uch restorxtion or repair is not economicalty teaeible or if the security
<br /> ol tJfia AZoet�e would be impaired, the ineuran�e �irocee�ls mliall lie applied to the eunis secured by thia Mortgage,
<br /> �it�6 tLe eatoax, if any, paid to Borrower. If the Yro��crty is abandoned by Borrower or if Borrower fails to rdpond
<br /> tq Lsqdsr within 30 daye after notice by I.ender to Borrower th$t the insurance carrier offere to settle a claim for
<br /> iewltapds b�ne&ts, Lee►der i� authoriaed to collect and ap}�ly the insursnce proceeds at Lender's option either to
<br /> ev�kOeation or repsir of the Property or to tlie suros secureci by ttiis �iortgage.
<br /> ' Ualar Lendes and Borrower otherwise agree in writing, any such application of proceeds to principal ehall
<br /> eo0 M�sed oe po�tpone the due date of the monthly inetellments referred to in paragraphe 1 and 2 hereof or chsnge
<br /> tlN aneuaE of ae6 icutallmeeta.
<br /> If usder pasKnph 18 hereof the Yraperty ie acquired by Lender, all right, title and interest of Boero�ver in
<br /> �ad to any it�wtra�ce palieies and in and to the proceedc thereof lto the eztent of the e�uine secured by thie Mort-
<br /> ��e immed�tely prior to such ssle or acquisitionl reeulting from dsm�ge to the Yroperty prior to the sale or
<br /> a�equid�ioa rl+�li psrc to Lender.
<br /> t, hw�nralien �el �tmel�eeno� ot Pcop�rty: IwawYolds: Condomioiva�s. Borrower shall keep the Prop-
<br /> eety in good repair and ohall not permit or commit waste, nnpairment , ur deteriorstion of the Property and shall
<br /> aomply with the provirions of any lease, if this \fortgage ie on a leasehold. If this Mortgage is on a condominium
<br /> unit, Boerowor shsll perfom� all of Bormwer's obligations under the declaratiou of condominium or mseter deed ,
<br /> ' tie by-law�s snd regulations of the condominiuiu project and constituent documents.
<br /> 7, peeE�eAm et L�ad�r's S�enritY. If Borrower fails to perform the covensnts and agreemente contsined in
<br /> f,l!'t� Aioetp�, or if �ny action or prooeeding is commenced whieli �naterially affects I.ender 's intereet in the Prop-
<br /> eaty, iaeludiag, but not litnited to , esniaent domsiu , in�ol��ency , code enforcement, or arrsngements or pmoeed-
<br /> iep involvin� a bsnkrupt or decedent, then Lender at Lender'e option , upon notice to Borrower, may make such
<br /> . appeseynoee, dieburee aueh sums and take sucl� action as i� necessary to protect. Lender's interest, ineluding, but
<br /> set limited W, disbuesement of rearonable attorney 's fees and entry upo�i the Yroperty to make repaire. Any
<br /> a� i�bueied by I.mder purauant to thic }iaragraph 7 , with interest thereon , shall beoome additims► iadebt-
<br /> edperi of Boeroaer eecured by this 3fortgage. Unlese Borrower and I.ender agree to other terme of payment, euch
<br /> �moyaw dtall be psyaWe upcm notice from I.ender to Borrower requesting payinent thereof, and shall bear inter-
<br /> art tiam the date of flisburaement st the rate stated in the Note unlese puyment of interest at such rste would be
<br /> oosLr�ry to applicable law, in �vhich event such amounts shsll bear intereat at the higheat rate permieeible by
<br /> a�ble law. Nothin$ contained in this paragrapti 7 shall require Lender to incur any expenae or do any act
<br /> heiwmder.
<br /> •. I�tioa i.ender may u�lce or cause to I,c mado rea�nublc entries upon and iuepections of the Prop-
<br /> e�ty, provide�l that I,ender ahall give Rorrower notir� �,rior � o tiny �u��h in�Iieot,ion ��ierifyinK reaRonehle cauaP
<br /> ti�for �IaMd to i.esdwr's interest in the Pro4serty.
<br /> � Gri�Mlir. 'The proeeeds o( any award or elsim for darnages, direct or ooaeequential, in oonnection `
<br /> �rNdf say eowdenteatiee or other tsking of the Proprrty , or part t6ereof, or for conveyance in lieu of condemna-
<br /> >' t+a�. � is�rby a�ri�eeA snd ahaU be paid to I.eader.
<br /> ' In t�l�e event ot s total talcinQ ot the Property, the ��roceeds sliall I,e applieci to the sums secured by this Mort- . , �
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<br /> �ya, �vitl� OhseswtM, it �ny, N4f�t to Baeeower. In t.Me eveat oi a partaai telcing ot the Pro}�rty, unleas Borro�ver �� '
<br /> � asA InraMe �t6anrac atree in w�ritia�, Wiere ahail be applieci to tl�e sume eecured by this _�iortgage �uch propor-
<br /> ti�a a[ 1M paMasi� a� i� e�ual Go t6�t proportian �vhich tlre amount of the sume aecured by thia Mortga6e imme-
<br /> } � alier 6e tA�e da�s of hltiey� bearr to tlte fair msrkrt value o[ ti�e P:�q�erty immedistely prior W the dste of
<br /> ylei�. �iC�lr b�MMM1e �t ti�e pe++aee8� paid ta lt+o�x�o+ver. p.,.
<br /> ` � �IR �'l�'�I�I�„j' le 1�bA1sKlened 4.� 440e!'o�"er os if atter erMiee by Lender to Borzo�ver that the cond�nnoz offers � ;' "
<br /> ' 6�aM� �w �wl a� se66ie * eiwi� fif� eiwtny�,ee, Herrewer fRiIR to ree�+ond to ] ,�nder within 30 dnye of the date , ' �
<br /> �i� YM11�, �dM' 1a atit�lei�eri ts a�ee6 a�d np4+lq tA�e �weeeds at Lender'e option eiti�er to e+esWratian or
<br /> w�1iR ![ IiM h�sf� �r 6f tM w� sswred by � \tortg�e.
<br /> �iiNM I�Inlll� asd HareisaM� Miaew�i�e a�l�as in wrrif�, any wek appliostian of prooeede to principsl ahaU
<br /> � . „�, ,.,,.' ' J
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