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<br /> � If under paragraph IS hereof the Property ie sold or tlie Yroperty is otherwise acquired by I.ender, L.ender
<br /> chell apply, no later td�an immediately prior to the salc of the Yroperty ur its •rcquisition by Lender, any Funds
<br /> held by Leader at the time of application as a credit again�:t tl�e Duii�� necured hy this '_�Iortgage.
<br /> 1. Aql�aMao ad P�syswMs. Unlese s��licsble Iaw provides otherwiae, all payments received by Lender
<br /> uader ths No�te and pan�graplu 1 and 8 hereof slrall I�ti a�pliec� by Ixnder firxt in payment o( amounta payabie to
<br /> I.� b�r $omwer uadex Pan►¢rapl� 2 l�ereof, tiien to internnt payable on tl�e Note and on Future Advancee, if
<br /> awy, ind tdf+en to the principal of tl3e Note anc! to Ehe princilisl of Future Advances, if uny.
<br /> � {. !�w Li�os. Borm+ver siiall pa�y atl tazea, aesesemente and other chazgee, fines and imppsitions atttib-
<br /> tt4b�0 ta tlfe Property w�ich msy ettain s priority over this 11�forLgage, and ground rents, if any, st Lend�r'e
<br /> a�ft�fao it� the msn44r ps+uvided under paragraph 2 hereot or by $orrower u�aking paymeut, when dae, direotly to
<br /> � tl�s payas Gbeeneof. Borro�er shYll ptnmptly furniah to I.ender all notices of amounts due under this psragnph,
<br /> � wd iat the evept Borrower ehall mske payment directly , Borrower sl�all promptly furnish to Lender reeeipts evi-
<br /> � draoia� s�tah psymentc. 8orrower shsll promptly discharge any lien whieh has priority over thie :�4orteage ; pso-
<br /> � vidsd� that Boerower ahall not be required to discl�arge any such lien so long as Barrower sizsil agree in writing to
<br /> 0 Wrspaya►em�t of the abligation eecureci by such lien in u manner acceptable to Lender, or shsll in good faith coatat
<br /> 0 rYeh tieA by, ox defeod eaforcefnent of sucli liet� in, legal prceeedinga wliich operate to prevent the enforcemeat of
<br /> the ►Na or Porfeitnre o! the Pmperty or any part thereof.
<br /> f S. �aed Iewcmur. Bonower shall keep tLe im��rovementu now exietiiig ar hereafter erected on the Prop-
<br /> ('� erty i�xured sQaitwt IoEs by &re, hss�arde included within the term "extended coverage" , and eueh other haaard4 as
<br /> � I.emdea� tnsy require and in such amounts and for sucL � �eriod� �x Lender ma,y require ; ptovided, that Lender e6a11
<br /> not req�it+e tlsst the amount of such coverage exceed tliat asnonnt of coverage required to pay the sums remired 'by
<br /> t!w Mort�se+e.
<br /> The isseurance carrier providing the insurance shall be cliosen by Borrower subject to approval by Lender ;
<br /> , provided , that sueh approval shall not be unreaeonably with►�eld. All premiums on ineuranee policies shall be psid
<br /> i►t Lender's option in the manner provided under paragraph 2 hereof or by Borrower making payment, when due ,
<br /> dit�Jy to the ipeurance camer.
<br /> Ia t6e ev�ft aay policy i� not renewed on or before ten dsys of it� expiration, the Lender, to protect
<br /> ita ipterest, snay peeeure inaurance on the improvements, pay the premiume and such stun ehall becorne
<br /> iauuediakely due and payable with intetest at the rate set forth in eaid note until paid and ahall b,e
<br /> oecueed by thie Mortgage. Failure by Borrower to comply may, at option of Lender, conetitute a default
<br /> uoder the terma of tbia Mortgage. '
<br /> All insurance po�iciee and renewQls tl�ereof sliatl lk in fonu �tcceptable to I.ender und sl�aU iudude x stasidard
<br /> �rioetta�e eisuse in favor of end in forni acceptable to Lender. I.ender shall have tl�e right to l�old the policies and
<br /> reee�vsb t}ut+eot, and Borrower sha)t promptly Puraish to I,ender aU renewal notic� and all receiptc nf paid pze-
<br /> mium�. Ia the event of losr, Borrower shal! gi�•e prompt notice to khe insurance carrier and Lender, and I.end�
<br /> msy make proof of loes if not made promptly by Borrower.
<br /> Uate�s L�e+tder saci Bottower atherwise agree in writing, insw•ance proceeds shall be applied to reetoratiop or
<br /> t�qjr of the Property damaged, prnvided such restoration or repair is economic:�lly fensible and the eecurity ot
<br /> thi�t btQet�aye u not theteby impaired. If such remtoration or repair is not economicully feasible or if the secutity
<br /> o[ t6l� Mott;a�e would be impaired , the irucurance �3roceeda; shgll I,e applied to the sums seeured by this Mortiaie,
<br /> with the esoen, if any, psid to Borrower. lf the Yro{�erty is abandoned by Borrower or if Borrower failo to sapwnd
<br /> t� I,�odar witl�in 3t1 days sfter notioe by Lender to Borrower that the insurance carrier oPfers to aettle a ciaim fne
<br /> ; iu�W�anae beee8ts, Lender is autlsoriaed to collect a�d apply the insurance proceeda at Lender's optian either to
<br /> r��fa+�tion or repsir of the Prnperty or to the svms secureci by tl�ie �iortgage.
<br /> l'Tai� I.ender and Borrnwer atherwise sgree in writing, any euch application of proceeda to principal s6a11
<br /> oiai aet�esei or pott�wne the due daGe of the suonthly inatallinents referred to in paragrapha 1 end 2 hereof or cb�o�e
<br /> tir nre� of suola io�tsllmeats.
<br /> I� ueder para;raph 18 hereof tl�e Pmperty is aoquired by Lender, all right, title and iaterest of Borroaer io
<br /> � sedt4anq in�urance policies and ia snd to tl�e proceeds tt�eraof Ito the extent ot the sumez secured by thie N[ort-
<br /> pye mamedirtely prior to such eale or acquisitionl resulting from c�nmage to the Praperty prior to the esle or
<br /> aagui�ition el�ll parc to I.eader.
<br /> t !!!�eMafias md l�I�elraao�a� ot Ptiop�rty; Law#�olds: Coedo�ainiams. Borrower ehall keep the Prq�-
<br /> erty ia Qood t�e}�air snd shall not permit or commit waste, impairment, or deterioration of the Property and �hall
<br /> oo�►ply with t.he pmvisioae of any leaoe, if this .�fortgage is on a leasehold. If this �lorcgage is on a condomiaium
<br /> uail, Beeso�ras rhsll perEorm sll of Borrower's obligations under t.he declaration of condominium or maetet deed ,
<br /> tJf� 6y-liwrs and ze�uLtione of tMe eondominiun� project and conetituent documenta.
<br /> 7. 1lrNiotlea oi I�od�s's S�eY. If Borrower fails Go perforn� the covenants and agreementa comttitmd in
<br /> d1i� Moetpy�e, or if aay action or pr�ooeeding ie commenced which materially a8ects Ixnder's interest in the Prop-
<br /> a�et�, ieeludit�, but not limited to, eminent donisiu , innol �'enc,y , cafe enforceiuent, or arrai�ementc or proeeed-
<br /> isw iavdv� a hsnlcrupt or deeedent, then Lender at I,ender'�; option, u{wn notice to Borrower, may make euoh
<br /> sp�s�raeoes, di�bune such euma rad tslce sueh action ac is necessary to protect Lender'e interest, includiag, but
<br /> � aei limited ta, d'uburaement of reasonable attorney's feeti and entry upon the Property to make repain. Any
<br /> � a�raists di�b�rried by I.eoder punuant to this psragrapl� 7 , with intereet thereon , ehall beoome additionsl indebt-
<br /> �Lw of Hoes�ow�er eeeuned by this '_�iortga�e. Unle,�s Borrower and I.ender sgree to other terms of payment, eueh
<br /> � �weks �hsll 6e psysble upo4 notbee fmro Lender to Borrower requesting payment thereof, and ahsll bear inter-
<br /> rt teae the daf�e at �ti�be�rraea�eat st the rate stated in the Note ualen payment of intereet st aaeh rsle wouid be
<br /> - ? ee�teras to ypliaable laav, ia whidh event sueh amoants ehal! besr interest at the higheet rate pesminible by
<br /> �p�lieRble lawl. !doEhi[q; containeA in this rara�rapli 7 shall requirc I.ender to incur any eYpenee or do any scL
<br /> hw�e�der.
<br /> : �. L�AIN. Leoder maq ��uke or caure to he made reaeonablc et�t.ries upon anci inepeMio�fs of the Prop-
<br /> ' ; NRr�, pnsvidad Nsf+t Leader ekai! give BorroR•er notice ��rior to any euel� inc�xretian si�ecifying reaeo�nsble oswe
<br /> i ti�t�t nlwbad to I.swder's intere�t in the Property.
<br /> � ' ,� i� G�i�lie�. Th� ptwe�eds of say a�vsrd ar etaim for daensg�ae, direet or aonaequentirl, ia ooaneetion
<br /> �i�i eerd�wties ar oE�er e
<br /> @ a� talciaQ of the Preperty , or part thereof, or ior conveyance in lieu of oon�femna-
<br /> � iir, w 1�3 � a�d diall be ptid W Le4der.
<br /> i' tlM�e aa�at ot a totsl t�ki� of the Propertq, the >>rckeeds shall t�e a�plied to the xums secured by this Most- �. <_--- . ,,
<br /> - , 1�sifil fire �,eerr, if any, W�d to Bar[+�wer. In the eveat of a {jsrtial Laiciug of the Progerty, ualeBe Bo�crower �� '
<br /> W'd �w
<br /> �� ` �Lie�riirsiiRMesire +��ee ia wyitis�, Ntis*e s�►!i be sp�plieii to the wms aeeured by thie '�iortga�e sueh Propoz- �
<br /> '" 1�Ila i1[ EYe pe�wris �s is eqa�1 to tlrat propertioe rrhieh tlae anwux�t of the �ums eecured by thie Mortgsge imme- ` .
<br /> M t6e �be� of t b�ewrA to Me f�ir enarket ��alue of t!x P `" „
<br /> � ;, ; '�lt� �6 roperty� immediately prioz to the date of
<br /> till�. si� tir L�La�e��8 tLe �waeardr }+siel te 8�*rnf�rer. , �
<br /> � " � i�' tYlk�!M'1ar iMr�b�r �[s�a�rer ae ft �►fter t�otice bq I,ender to Borrower th�E the candemaor a[�s + , «.
<br /> � b � �.�ikW M'.sMti s aiii4t �et d�Mylr, �lee�+o�ver f�ils to s�espoed to I.endtr within 30 daye of the d�Le '�`
<br /> a�:�INM� �r, �+�MrhM' i� a�lind � epq�et a�d fpltty* �M {�tMqeeds at I.et+der's option either to r�toratim or �'
<br /> � d !�r L�'ea�ei�r er rs t4�r Mr�s wea�ed br tbi� alortp�e.
<br /> � I�wd�le aid �aerewtir ukLe�i�e ��ia
<br /> � a�re *�ri�, aa� sueb applie�tion of prooeede W principal shall
<br /> � � •� J
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