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<br /> � If under psragraph 18 hereof the Yroperty is sold m• the 1'roperty is otherwine acquired by Lender, I.ender
<br /> shall epply, no Ister tlian immediately prior tu the salc of the Yropert,y or its acquinition by I.ender, any Fwids
<br /> 0 l�eld hy Lender at the titne of applic8tion us a credit against tlie sums �ecurecl by this '.�lorlgage.
<br /> � 3. �,pp�iealioo ot Payaa�nts. Unleas sppiicable law providee otherwise, sll payments received by Lender
<br /> M wder the Ne►t,e sn,d paragrapt►s 1 and 2 hereof elialt I>c ap��lied by I.eru3er first in payment of amounts payable to
<br /> �, Laoder by Borrower under parsgsapli 2 liereoi, then to interest payable on the Note anci on Future Advances, if
<br /> � any, And thee+ to the psincipal of the Note and to the principal of Future Advances, if any.
<br /> � .+ {. Char�,; Ii�u. Borrowver sl+all pay all taxes, assessments and other aharges, fi�es snd impositions att»b-
<br /> ^ ut�►bk to the Property which msy attain a priority over this �Iortgage, and ground renta , if any, at Lender's
<br /> � option ia Ehe mAnAer provided under parsgraph 2 hereof or by Borrower inaking payment, when due, directly to
<br /> t,he psyee thereof. Borrower shal! promptly furnish to I�ender all notices of amounts due under thu paragraph,
<br /> apd ia tbe avent Borrower shall mske payrt�nt directly, Borrower shall promptly furnish to I.ender receipts evi-
<br /> denaia� euoh psyment�s. Borrower shall proenptly discl�arge any lien whieh has priority over this Martgage ; pro-
<br /> vided, lFub Borroaer shal! not be required to diseharge any such lien so long sss Borrower shall egree in writin� to
<br /> the psyment of the oblig8tion aecured by suei� lien in a inanner secepta6le to Lender, or shall in good faith coatat
<br /> suoh lien by, or defend enforcement of sucli lien in , legal proceedings which operate to prevent the enforcemtnt of
<br /> the lien or forteitune of the Property or any part thereof.
<br /> S. Ha�d Ioau�. Borrower shall keep the isuprovements now existing or heresfter erected on the Prop-
<br /> etty uuured sariast loes by fire, hasards incladed within the term "extended coverage", and sucli other l�saarde as
<br /> Leodet may require and in euch amounts and for sucli f�eriodk xs I.ender may require ; provided, that Lander eluli
<br /> not require that the amount of auch coversge exceed tGac amount of coverage required to psy the eums eeeuted 'by
<br /> this MortgaRe.
<br /> The iasurrnce earrier providing tlie insurance shsl ! be chosen by Borrower subject to approval by Lender ;
<br /> provided , that euch approval ehsll not be unreasonably withheld. All premiume on insurance poticies shall be paid
<br /> st Lender's option in the mBnner provided under paragrapl� 'l liereof or by Borrower m�king payment, when due,
<br /> die+eeWy to the insurance carrier.
<br /> Ia the event any poliey is not renewed on or before ten days of ite ezpiratioe�, the Lendes, to prestect
<br /> it� idterest, may procure inaarance on the impsovements, pay the premiums and such eum ahall bexwme
<br /> immediately due and payable with interest at the rate set forth in said note unti! paid and shall be
<br /> aecured by this Mortaage. Failure by Borrower to comply may, at option of Lender, conetitute a detault
<br /> under the te� of this Mortgage.
<br /> All insurance policies Qnd renewals thereof shall be in form acceptabie to I.ender and ehall include o standard
<br /> moeE�s�e clauae in favor of and in form e,cceptable to Lender. Lender ehall hsve the right to Lold the {wlicie� and
<br /> e�enavslr thereof, and Bormwer shall promptly furnish to Lender sll renewg! notices and all receipts of psid gre-
<br /> euum�. In the event of loss, Borrower shall give prompt notice to the inaurance carrier and Lender, and Leader
<br /> Buy maks proof of loss if not mecle promptly by Borrower.
<br /> Unle�r I�ender and Borrower othetwise agree in writing, insurance proceeds shall be applied to re�toratioo or
<br /> repair of the Propetty dsmaged, provided such restoration or repair i� econon�ically fessible and the security of
<br /> ti�is Moetaa�e is not thereby i�npaired. If such restorxtion or rep�ir is not econo�i�ically feaeible or if the secusity
<br /> of thu Moets�e would be impaired , the ineurance proceeds yhalt I �e applied to the sums aecured by this Mortp�e,
<br /> : with the �oe�s, if any, ptid to Borrowe:•. If the Yroperty ie abandoned by Borrower or if Borrower faile to re�po�nd
<br /> to Lender within 30 days after notice by Lender to Borrower that the ineurance carrier offere to settle s ci�im for
<br /> iowtr�nee benefits, Lender ic authorized to eollect and apply the iasurance proceede at Lender's option either to
<br /> e�doration or re�uir of the Property or to the eums eecured by tliis \fortgage.
<br /> Uaiw Leader and Borrower otherwise agree in writing, any such application uf procaeds to pritteipa! �all
<br /> �wt aattead or pootpone the d� date of the monthly installnients reterred to in pangrapha 1 and 2 hereof ot ehsn�a
<br /> t5t amertat of eueh inetallments.
<br /> If under paragrsph IS hereof the Property ia acquired by Lender, all right, title and interest of Bosrave: ia
<br /> snd to tay insunnce poiicies and in and to tl�e proceeds themof I to t6e eYterit of the auma secured by thio Mort-
<br /> pp immedistely priur to euch aale or acquisition ) resulting froin dainsge to the Property l�riar to the rsle or
<br /> ao�io�n s6s11 paes to i.ender.
<br /> t hw�s�diaa �d I�Imol�ama of Pcop�ety; I.�l�elda; Coadomsi�niwms. Borrower shall keep the Pro{�-
<br /> erty in �ood repur and ehall not permit or commit waste, impairment, or deterioration ot the Prope�ty snd rtull
<br /> J eomply �rith the proviaions of any leaBe, if this \lurtgsge is on a leasehold. If this Mortgage is on a oondomiaium
<br /> unit, Borro�er ahall pezforn� ail of Borrower's obligations under the declaration of condominium or muter deed,
<br /> the by-Lavs and e�e�ul�tious of the condominium project and conetituent doeuments.
<br /> 7. leol�eNoa o! I.�ed�r's �ea�*it1f. If Borrower fails to perform the covenaata snd agreements eoat�iosd in
<br /> t6» Moe�ase, or if nny action or proceeding is comn�enced which �nateriaUy aHects I.endea'e intetest in the Pt�op-
<br /> eeEy, includiag, but not limited to, eminent domain , insolvency , code ettforcemeot , or srrangements or praosed-
<br /> iad i�v^olvint e bnnkrupt or decedeat, then Lender at I.ender's option, upon notice to Boaower, msy make suoh
<br /> app�aranoe�, disbur�e such wvnr aad take such action au is necesasry to protect Lender's interat, includine, but
<br /> set iimited to, disbuerement ot neawnable sttorney's fees and entry upon the Property to roake t�pain. Asy
<br /> amou� d'abuseed by IJender pursusat to thie parseraph 7, with intereat thereon , ehall beeoaae additioaal indebt-
<br /> edaar od Baiesower oecured by this Mort�a�e. Unless Burrower and Les�der asree to ott�er teesn� of p�yment, weh
<br /> sioouats dui! 6e psysblt upo�n notice ftom Lewder to Borrower requesting psyment thereof, and slt�li be�r isteir-
<br /> a�t froan the dste of diobunement at the rate stat�od in the NoGe unless pryment of intee�t at auch r�f�e would be
<br /> eNtt+�ry to applieabie law�, in w#►ioh eveat such amounte shsll bear interest at the hishat rRte permirible bq
<br /> �+pplie�ils ls�v. Nethir�g conts�tseei in this �aregrspl+ 7 shnll require I.en�der to ineur any expenre or do any aet
<br /> IMlw�der.
<br /> �. i�eliy. l,ender inay ma1[e ar esuee to 1►e inacle reasanable entr�es upon and inapect�oos of the E'rop-
<br /> otf,y, pewvided t6at L.endes aliall `ive Batrow�er aoticc �a•ior to any su��l� inspection epecifying reawnable catiBe
<br /> tiMe�ar �+el�tad to I�eader'r inta�e�t in the Property.,
<br /> !. C�. The pra�eeeds of any award or claim for damager, dii+ecet or coasequeptial, in eenseetaon
<br /> ; �►itll aqy ooadamaitaoa or otber Lrkit►s of tF+e Pt�operty, ur �wrt tliereot, or for conveyaa�ee iu lieu of uoodee�n�- "
<br /> boe� aar iwrby s�ned aad sh�tl be p�id to Lender. �
<br /> It fi�e eveat oi s ttffal ta�cia6 of tlec P'eaperty, the {�mce�d� ohsit t�e applied to the aums eecured by thie Mart- .
<br /> } p�e, tilb't� �4seers, if any, paid to Saer�+ver. In tl�e event of a }urtial taltiug of the Property, ualere Bon+o�er
<br /> � �3 ard I�rilir �d�ee�fre a�ewo ie wti�tier�. kiurs r�sll be app4ied to t�e suuw aeeured by thie M�e ntch propor.
<br /> faos at W pewe�d� as ir eant! b td�at pm�poetion �rhich the ae�ount of tbe eumc secured by this Mort�e im_e-
<br /> � � Ilfloe If� lile �Mr o/ #skie� be�rs ts tJ�e fait �usrket vslue of the Prope+'tY itnsyedmtely Ixior W the date o[
<br /> erif�, �willi 11w lMliwea M tf�e gro�aeeds p.id Lo $o�ro�ver. ''' m'
<br /> � if1MMl!'s�jffsalyudeaed by tloer+awiav oe if sft�r notice by I.endes W Boe:rnver that the eonderaaor o�era »•
<br /> M 1�riMM �s � ar �eltte s clainl f� �t, Aorrowor fuls ur ceapond to i.ender within 80 days of the date
<br /> af weh"wNiee, I.aade�s it w�eti�ed t+o eotleat aad a�ty the {+f+eoeede rt Lender's optioa either to restoration or
<br /> r� oi tAc Pre�kt3Y ar to t,he sua+c sec+u�ecl liy tl�i► ll.ut�a�ee.
<br /> VeMM I.endre aad Boreow�er adyeexise a�tre is wrritin�, anT wch appiieation of pe�oeeeds W priacipsl ehall
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