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<br /> � If under paragraph 18 hereof the Property is svld or the Yroperty is otherwise acquired b,y I.ender, I,ender
<br /> ahall apply, no later than itucnediate{y priar to the salc of tl�e Pro�xrty ur its acqui�ition b,y i,ender, any Funds
<br /> held by Lender at the time ot application ae a credit against the sume secured by this \4ortgage.
<br /> 8, Aypliaad'tpa of Pay�nt�. Unlaes applicabic lax• l�rovides otherwise, ssil payiuenLs received by Leuder
<br /> woder the 11ToEs au�d parAgrapLe 1 snd 2 hereof rliall !ie a��plied hy I.ender firet in pay�nent of amounts payable to
<br /> I,ender by Botrower under parsgrapl� 2 liereef, tlien to iAte�+est ��xyable on tl�e Note and oa Future Advanaee, if
<br /> any, a�d t�,+n ta tl+e prineips! of the Not�c and to tise principai of Futui+e Advanaes, if wy.
<br /> 1, Cbqs�t ti�pa�. Bosrower elisll psy ali taxer, arceewnents and other chwsges, fines and impositions attrib-
<br /> � utltL+3s to � Prapsety whlok m►y sttain a prieritq over tFiis Mor6gsge, and ge+ound renLs, if any, at I.eAdor'e
<br /> � � opt4a�p ia the raamn�r groviided under parxgranh 2 hereaf or by Barrower i�kinB PaY�eat, wi+en due, direotly to
<br /> a
<br /> � � t,he psyae tl�ereof. Borro�wer rhall pr�nptly Yurniah to Lencier si! notices of amounta due under this psragirph ,
<br /> � � apd in the eveat Bpzr�ower shaU mske ynynient direetly, Bormwer sl�alt protuptly furnieh to Lender receipts evi-
<br /> O daneia� cueh paymentr. Bort+ower ahal! promptly dieeharge any lien whieh hae priority over this Mort�a`e ; pro-
<br /> O viided, t�hst Botmwer elfatl uot, be required to diecliarge any sucl� lien so long ar F3orrower sl�sll agree ia rsitiag to
<br /> Wre psyment of the obligstian reoured by sucli lien in u manner acceptable to Lender, ar shalF in good faiLh caaEeat
<br /> � sw,+6 li�n by, os delead euforcement of such lien in, legal proceedinge wl�ich operate to prevent the enforce�ont of
<br /> f� the lien or forfeiture of the Property or any part tliereoL
<br /> I� b, Hesosd Iawuaae�. Bonower ehall keep the improvenients now existing or hereafter erected on the Prop-
<br /> erty insured agsinst lo�s by &re, hacsrds included within the term "extended coversee" , and such other hsssrdr aa
<br /> I.eades msy zequire aad in such amounts and tor sucl� }�eriods us Lender inay require ; provided, that Lender R6a11
<br /> aot rpc�uire thwt the smount of euch coversge exceed that amount of coverage reyuired to pay the sumo roeuebd 'by
<br /> thia Mortgage.
<br /> Tbe iasurance currier providing the insurauce shett t�e chosen by Borrower rubject to epproval by I.eader ;
<br /> pe+ovide,d, tksat auch approval ,ehall not be unreaieonably withheld . All premiums on ineurence policien e�hall be paid
<br /> at Leader's option in the manner provided under paragra{�l� 2 hereot or by Borrower inaking psyment, when due,
<br /> diraatly to the inrurance csrrier.
<br /> In the event any policy is not res�ewed on or before ten daye of its expiration, the Leader, to protect
<br /> ite intereet, may procure incurance on the improvements, pay the pre�niums and such sum shall beoome
<br /> immedistely due and payable with intereet at the rate eet forth in eaid note uatil paid and shsll be
<br /> eecured by this Mortgage. Failure by Bonower to comply may, at option of Lender, oonotitute a default
<br /> uoder the tetms of thia Martgage.
<br /> All ineurance policies and renewals thereof stiall be in fonu acceptable to t.ender and shall include a etandsrd
<br /> tnorf;age clause in favor of snd in fonn acceptable to Lender. I.ender shall have the right to l�old the policiee and
<br /> renew�aL thereof, and Sorrower ahall promptly furnish to Lender sll renewsl notices and ali reoeipky of psid pre-
<br /> mivau. In the event of loss, Bormwer shall give prompt notice to the insurance carrier and Lender, and I.endar
<br /> may inake proof of lare ii not made promptly by Borrower.
<br /> Ualas I.endes and Borrower otherwise agree in writing, insurance proceeds shsll be appiied to rertoratio�a ar
<br /> e�eQ�ir of the Pwperty damaged , provided such restoration or repair is economiealty feasible and the aeeurity of
<br /> � t�6i� Mortg1►�e is not thereby impaired. If such restorntion or repair is not economieally feseible or if the eeeurity
<br /> � o[ thfs Mostpge would be impaired, tl�e insurance �>roceeds ehall Ix applied to the aums secured by thie Mort;�e,
<br /> wi6h tJ�e ezoese, if sny, paid to Borrower. If the Yropeity is aban�oned by Borrower or if Borroaer tailt to cca�wnd
<br /> to Ieadss within 30 days after notice by Lender to Borrower tl�at the insursnce carriez offere to eettle a clsim tar
<br /> idurasoe bene&Ls, Lender is suthorized to coliect and apply tl�e insurance proceedc at J.ender's option eitier to
<br /> i re�Eorstiop os repsir of the Prnperty or to the sume seeured by tl�is �Zortaa�e.
<br /> 'iTalen Lender and Borrower otherwise agree in writing, any sucli application of proceede to priaei,pa! thtil
<br /> ` ae0 att�ead or pwtpoae the due date of the roonthly inatallments referred to in para¢raphe 1 and 2 hereof ar oJ�ae�e
<br /> i f� �eseu�t of suoh ind�llmentr.
<br /> i It uades paraQnph 18 hereof the Yroperty ie acquired by Lender, aU right, title and inteseet of Borro�rar io
<br /> ' a�d to Any ineurance polieies and in and to the proeeecic thereof Ito tlie eztent ot the sum� secured by Lhis �utort-
<br /> i �a�e ifptt'iedi�tely prior W wrch eale or acquisition ) resulting from damuge to the Yroperty prior to the oale or
<br /> ! seqtti�itaon ehall p�rea to Lender.
<br /> q i, pewrr�aRion �d Mmaf�emu et Prop�ety; Lawhoids: Condomisiueu. Borrower shall keep the Prop-
<br /> j eetq in good repsir and shsll not permit or commit waste, impaittnent , or deterioration of the Property and s�ll
<br /> � 0000ply �vith the provisione of any lesse, if this �lortgage is on a leasehold . If this Mortgage is on a condomfnium
<br /> ( uniE, Bortowes shall perfosm $ll of Borrower's obli¢stions under the declarstion of condominium► or mvter deed,
<br /> t6t by-ls�a sad regulationa of the condominium project and cooetituent dceuments.
<br /> � 7. A�obelim oI Lnd�r's S�eueitY. It Borrower fails to perform the covenants and agreementc contaised in
<br /> � this Mort�e, or if any action or proceeding ie oommenced which m$terially aPlectc I.ender's iatee�t ia the Prop-
<br /> � erEy, it�cludia�, but not !i[nited to, emiaent don�uin , insolvency , caie enforcernent , or arrangementac or peooeed-
<br /> '; iei/i involvin� a bsakrupt or deoedent, then Lender at I.ender's option, upon notice W Borro�ver, tnay �aake sueh
<br /> appearanoes, d'uburse eucii aume and tske suel� action ae is neceseary to �rotect Lender's interect, ineludi�, but
<br /> ` ns6 Iur+ited to, disbursement of reasonable sttorney'c feea snd entry upon tht Property to make reQ�in_ Any
<br /> amoustr ditburred by I.ender purausnt to this psrasraph 7, witl� intereet tk►ereon, shail baoa�ne ac�lditiooal isdebt,
<br /> y edpew of Borro�rer socured by this Mort��s�e. Unless Borrow er and I.ender sgree W other terms o[ p�ysoent, aiel�
<br /> smoual� ehs11 be psysble upo�n notice from I.ender to Borrower requpstiag paymeat thereof, and eluil bear iater-
<br /> . i e�t froop the date of disbursement at the rste ststed in the Note unle,e payment of intee�est at eueh rate rrould be
<br /> ' oos►taasy to applieable lsw, in whioh event such amounte shalt bear inta+eet at the hi�heet rste peemi�sibk by
<br /> ! i�1R�I! IAN. NOEIIIl1$ CQOtifif� in thie parusra�sti 7 slia!! require I.ender W incur any enpenre or do aay �ct
<br /> � ba'ann+dee.
<br /> �. l�etiae. Lender may �nake or cauee to he inacie i•easonahle entriee upon and inepectionc of the Pro�-
<br /> eet�r, psovided thst Itnder ehall eive Borrow•er notirc ��rior to an� surh iospeetiun zpecifyinL re�sonabie osuee
<br /> ; t7Mn(qr relaEpd to Leoder'r iwtereat in tlye Pruprrty .
<br /> i !. Cm�d�ea8oe. The psr�eeeds ot any award or claim for damag�es, direet or coneepueatisl, in oo�nneotion
<br /> { wfti aiyr �q pr otLer talcin� ot the �*rqrerty . or j�art thereof, or for canveyaace in !'ueu of owid�ns-
<br /> t � Eion, i�e Lat+eby a�si�ned aad aha11 tHe paid to I.ecider. `
<br /> ' Ia tlte aveat of a totsi takiag of Lhe Praperty, the proceeds s1u11 i�e a�plied to the eums eecur�d by thie Moet- �
<br /> a is,�e, �+iCi+ tl�e es,eew� i{ say, paid W B+�aro�ver. In ti�e evesst ef s {�artis! trkiag of the PrW�ee�tY, ualere Banower �- �- -
<br /> � #Iii I+�iAK a�Menvi�s a�es�e iw +rtitin�, �ere eloaU be y�lied to ttae sua�c recured by thie Mwt�e wuh pi�opor-
<br /> �illw M 1Me ��srD�h as ir eqw! to tA�at prspoetio� w�hidt+ tku esw�n+t ot ti�e wxas oeeus+ed by th� l�Ioetp�e ps�s-
<br /> � Peiav bs f�re d�►te ot taiw� i+eari t+o t6e fair as�ari�et value of the PropertY �Y t� to t�e d�bs oi
<br /> ff p
<br /> � �. � �M #�qM d the P� P�Md to Borroaer.
<br /> I�3M� � �raQ�ao�d by �aaa�o�r� �aa� if afles natics bp i.ead�es to $orro�er thst L�e condemaas o�era � „ e,�
<br /> i L� � 11� �M�i at �ebtie s oi�r�e► fee �s, �n�ower fzilr to rerpad te !�r wttl►m 30 dsys of ths d�te . ' ,.,:
<br /> r af �'w�Miesr I�+er ts �w[dw[it�i ba eelieeb aad �pply t#re E�eoonu�r at Le�ier'. u�wiuu riLl.cr w iv�.ax+rtius ur �, � . ,�: ""`
<br /> : r�at f�l+ rlt�opM�y ae ia�tr�e �uws s�s�ed i►y t6i� 3t�+et�e.
<br /> i �lY�IIMt I�ewdMr sael 8�ors+sMnet e�Merir �re is wreif�ie�, asy we6 app�e�im of ptnees�ts to priaeipal �hal1
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