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<br /> ' If under paragraph IS hereof the Yro��erty ie sold or the Yropert�� is otherwise atcq�ired by J.ender, Lender
<br /> she!! spply, no later tlian iinmediately prior to d�c sxlc of tlie Yroperty or its acquiaition by I.ender, uny Funds
<br /> held by I.ender at the time of applicaLion se a credit ugainat t6e suni. securcd by this :�Iortgage.
<br /> 3. �plioalfoa of Pay� Unless applicablc !aw ��rovides otherwi�, ull payinents received by Lender
<br /> �nder tt►e Note and psragrapLs 1 and 2 hereof shall hc $ppliecl by I.ender firr,t in payment of asnountei payable to
<br /> I,onder by Borrower under paragraPii 2 hereof, then to interest � �aya6le on the :�Tote and on Future Adva�ncea, ii
<br /> any, and tl�ea to the {uincipal a1 the Note �►nd to tlie principsl oi Future Ad��ancea , it any .
<br /> � t C�rl� 1iw. Sortower sliB11 psy all tasee, secessxuentr a=id other chargea, finee and impositions attrib-
<br /> ut44bLo tp tbe Psaperty whiah msy attrin u priority over tuis �iortgage, and grou�d rents, if any, at Leoder's
<br /> opEiop im tdie msnner prqvided upder paragra��h 2 hereof or iiy $orrower inaking payment, when due, directly to
<br /> th�e p�yee theseo�f. Borrower oha!! prom�tly fumish to I.ender sl! notices ot emounts due under tliis paragraph ,
<br /> Q� aoad i,n t#se event Batmwer ehail meke payaient directly, Horroc�-er shaU proniptly furniel� to Lender receipte evi-
<br /> p�, dmcistp� �uol� payaaeate. Borrower shall promptly diccharge auy lien which has priority over this 17ortgage ; pso-
<br /> �rj vi�d. that Borrower ohail nat be required to diacharge any �ucL lien so long us Burrower aliali agree in writing to
<br /> � tile payineat of the obligation secureri by sucl� lien in u lnanner accehtable to I.ender, or ehsll in good faith aoptest
<br /> �, oltoh lien by, or detewi enforcement of suc}i lien iu , legal pruceeciinge wl�ich operate to prevent the enforcement of
<br /> ` tbe !Na or fwd'eiture of the Pmperty or sny part t6ereof.
<br /> S. E/aprd Eurusm�c�. $orzower bhall keep tlie im��rovements now• existing or hereafter erected on the Prop-
<br /> � erty ineuerd sgainst loss by fire, haaards inoluded within the term "extended coverage", and auch other haLarde as
<br /> h Lender msy require and in such arnounts and for Fucl � ��eriods a� Lender n�uy require ; provided , that Lender ahall
<br /> nat requize that the amount of sueh coverage exceed thax amo�nt of coverage requireci to pay the sums secured 'by
<br /> this Mort;aQe.
<br /> The ineursnee currier providing tLe insurauct: �hall be choseu by Borrow�er subject to approval by Lender,
<br /> pmvided , tMAt such spprovsl shall not he unreasonably withheld . All premiuws on insurance policies shall be paid
<br /> at Lender's option in the manner �irovided w�der � �aragrsph Y hereof or b,y Borrower making payment, when due,
<br /> dit+setly to the insursace carrier.
<br /> In the eves�t ,Ay Po1uy is not renewed on or before ten days of its expiration, the Lender, to protect
<br /> its iatereet, may procure iefaurance oa the improvements, pay the premiume and euch sum ahall become
<br /> itnmediateiy due and payable with iaterest at the rate eet forth in said note until paid and shall be
<br /> aecvred by thie Mort�a�e. Failure by Borrower to comply may, at option of Lender, constitute a default
<br /> und�r tbe ternsa of thie Morteage.
<br /> All insunnce policies and renewala thereot �liall be in fon�� xeceptable to I.e��der aud ehall include a r�tandard
<br /> n�ott�a�e clause in favoe of and in forn� acceptable to I.ender. L.ender s13a11 ha�•e the right to l�old the fwlicies and
<br /> e+eoersLs thereof, aiad Borrower shall prwu��tly furnisl� to Lender all renewal no4ices and all reaeiptm of paid pre-
<br /> tniumr. In the event of loos, Borrower shall give prompt iiotice to the insurance cnrrier snd Lender, and Lender
<br /> may uaslCe proof of loce if not insde promptly �y Borrower.
<br /> Ualas Let►der aad Borrower otherwise agree in writing, insurance proceeds shall be applied to restorstioa or
<br /> repais ot t6e ProQerty damaged , provided such restoraiion or repair is econowicully feusible and the security of
<br /> t� M� is not thereby im�aired . If ruch restorxtion or repair is not economically feusible or if the security
<br /> ot f�is Mott�e wouM be ini�.iaired, tLe ineurat�ce ��rocee�ls sliall li� aNE>lieci to the autue x�eeured by this Mort�age,
<br /> w�Nh ti�e e�coew, if any , psid to Bortower. If the Yroperty is abandoncvl by Borrower or it Borrower faile to seepond
<br /> Go Iwa�r w�ithin 30 da►yc after r►otice by Lender to 13vrrower Cliat the insurance carrier o$ers to �ettle a clsiw tar
<br /> ; ieasaoee benefit�, Lender is suthorized to collect and spply the insurunce proreeds at Lender's option eit6er to
<br /> ewtoratioe or r�sir of the Property or to tlie sume secured b�• tl�ie \fortgage.
<br /> � UsIMs Leader aad Borrower othetwi�e agree in writing, any such application of proceeds to principal ehall
<br /> wot p�ed or po�tpoue the due date ot the montlaly installments neterrcKi to in paragraphe 1 snd 2 hereof os ahan;e
<br /> '� tM �mwmt of wich in�tallmenfir.
<br /> "; It u�du psea�rrpl� 18 hereof the Yroperty ia acquired by I.ender, all right, title and interest ot Borro�ver in
<br /> rad to any ivaurance policies and in anci to tlie proceed. tlirreof tto tl�e excent of the euma secured by this Mort-
<br /> 4 �ye immediately prior W such cale or acquisitiun � ��sulting from damage to tl�e Property prior to the sale or
<br /> aaqui�tie�n c6�11 ps�c to Lender.
<br /> R Rrr�ndiaa �d lf�d�emio� d R�oprefy; LwMhdda: Coedomistivau. Borrower shall keep the Prop- �
<br /> �ty in good repair and shall not pennit or commit waste, impairn�ent , or 3eterioratim� of the Propezty and ahall
<br /> eoarpiy w�ith the provirions ot any lease, if this \fortgage is on a leasehold . If this Jlortgage is on a condomioium
<br /> uait, Boerower slull perforn� all of $orrower's obligations under ttie cieclaration of condominiuin or maeter deed,
<br /> tJ�e by-Isw^r and reQuLtiotu� of the condominiuni project and constituent documente�.
<br /> 7. l4W�elira e! L�ed�r's S�eurit�r. I f Borrower fails t.o �>erform the covenants and xgreements contsined in
<br /> thie Afort�{e, or if say action or proceeding is commenceci whicl� uiaterially affects I.ender's interert in the Prop-
<br /> eiety, ieeluding, but not limited W, emiaeat do�nnin , i�isoh•ency , caie enforceuient, ar arrtuigementa or proceed-
<br /> iep invodvit� a bsnkeupt or deoedent, thcn Lender at I.ender's option , upon notice to Bornower, may make auch
<br /> appearancee, dieburee eucli sunis nnd take sucli avti�� �s is necee�sary to protect Lender's interest , including, but
<br /> �ot limi�ed to, dirbussement of rerronable attc►rnney 's fees and enLry upon the Property to iueke reKuin. Any
<br /> ; aaauafa di�bur�ed by Iender Nursuant to thie paragraph 7, witl� interest thereon , shall beco�►e additioasl indebt-
<br /> ; edmes of Bonarez eaew�ed by thie �iortgage. Unless Borrower and Lender sgree to other terme of payment, sueh
<br /> � �mouats shslt be payable upos� aotice from Lender to Borrower requeoting payment tt�ereof, and shall beer inter-
<br /> a�t [tam the dste of disbursemeat st the rate stuted in the I�ote unle�s �>sywent of interest at guch rate would be
<br /> oeshetiey to appiicable law , in which event such amounts ehall bear interest at the higheeL rste permiesible by
<br /> appifoabJe la�u. Natl►ioe contsineci in this parugraph 7 shnll �rryuire Lender to incur any expenee or do any aet
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<br /> �. i�e�lia�. L.eader a�sy �n�ke or cruse to !�e ina.ie reaFonat�lc entries uEwn snci irrepections of the Prop-
<br /> �Y, W�w+�ed tiu� I�eadar er�+all g�ve Borron�er nat ►ec � �rtar w xm• ruc•1� ►nspeet�on r��ecifyiag reaeonable csuse
<br /> tL.wf.r e�eJ.�.d to i�e.du'o ;a�ere.t in the Pmpercy.
<br /> !. CM�r�Mi�. T6s ptviceeds o( snq awsrd or clsia� for damages, direct or ooneeqn�tial, in coaneotiw+
<br /> � +►*iti ay� �e�de�ti4e or otier t�alci� of the Yrq�rty , or !wtt t6ereof, or for conveyrnce in lieu of caotuietnna- �
<br /> ! t�oo, w 6�by r�ed ai+d �all be �aid W I.euder.
<br /> 1 Ia t6e eveat of a tatal ta1[i� of ttse Propesty, the �iroeeecls �I�all l �e u��piieci to the numa eecured by tfiie Mort- "`
<br /> � �Il�e, �iY t� ama�. if anY, ��a;�d W Baeno+ver. Ia tJ�e evau of a psrtisl taking of the Property, unle� Barrow�
<br /> 4 �INed l+r�it qbkeinri�e aQee ia w�, t��e shail be sppiied to tiie sum� secured by thie \lartgage such Pmiwr- �
<br /> t.` �3 bi�n a[ WM� ,wa�rds �s yr eqwl to �t, p�epoe�twn w�i►'sals the rmewst of t6e wu�e eecured by thia Mort�age imme- , . . �
<br /> � #�Ir 6a R6e dM� of Eaicips beaey to the €air �uaFket value of the Property unmediately prior to the date o£
<br /> ' � �1 •i�lbir f., �IMMIUIit iiirwt �t�Ir v+ne�ds It���d to Seesa�s�er.
<br /> + tt'4M►�h�11s '�rabi►fMiowed b� !leers+rot or if atter notice by Lender to 9orro+.er thst the condemnor effera ' ;�"'"''"
<br /> � � 4i I�II�t�Is al�It t �MiN a� eMrs f�r drmi�s, 1lors�ovet fs�tr W reywad W Leoder +vithin 30 days of the date �°+�
<br /> � � �R �ies, I+�I1r�t is Nrti�ei�Mi to aNMeeet, aAd ay$y fA�e preieeetir at L�der's optaon either to reetoration or " '
<br /> �if iin � �r+6� tMe �rsa �ow� 1rg 11�is \iuetp�e.
<br /> ' � I.etldCi' 8ud 13arrofver ot�eta�ur �t+wa iu wcl1+W[, +u�y wu�L �y�iu�l�iw� uf yruunnlr Lu Nriuui�►l eiLall
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