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<br /> � If under paragrsph 18 hereof the Property is sold or the Property is otherwise acquired by I.ender, Lender
<br /> ahsl! apply, no later t6an immediately prior to the salc of tl�e Yroperty or its acquis'stion by Lender, any Funde
<br /> held by I.ender at the time of application as a credit against thc su�vs recured by thi� Mortgsge.
<br /> 1. ,I�oatloa of Pa�m�ut�. Unless a�licablc lAw �uovides otherwise , all paymente received by I,eader
<br /> upai�r tfie Note a�d �►txgtaplis 1 and 2 hereof el�sll !ic spplied hy Lender first in payment of a�nounce payable to
<br /> � I�epdee by R�q�r�o�vec under psragraph 2 iiereof, thea to interest payable on tine Note and on Future Advanees, it �;�;
<br /> ' aDy, and tfien t4 t�e prinoipal of the Note and tq [i�e principai oi rui.ure A�ir ,uiu�, :; any.
<br /> �"? f„ C7rp�Mt 13�w $asro�ver al�sll pq,y al! tsxee, seserame�ta snd other chsrgee, flnes and 'uapasitiaos attaib- ` ,;?
<br /> � ' ukibk to the Frappety w6ieb msy attrin a p�aiority over thia Mortgage, and gre►mui rent�, if any, st Lmder'i
<br /> � q{f�iop ip Ci►er msnnee pmvided under psragraph 2 hereof or by Barrower rnsking �syment, xl�ns dna. direeti� to �; �"h
<br /> � r, tJ�lle psqoe t6e�+eof. Aerrawer ehsIl promptiy furnisL to I.ender all noticea af amouate due under this pstaersph, _": ` '
<br /> < ; � aad ia t,fie evedt Hoa�e�ower s4a11 make psyment direeWy, Borrower shall promptly furnish tfl Lender reaeipte evi-
<br /> s �j d�wed� weh paymestte. Borrower shall promptly diacliarge any lien which has priority over this Mortgage ; pro-
<br /> � vidsda that Botmwar ahap not be roquired to discliarge any sueh lien eo long as Borrower ahail egree ia we7tieg tp i
<br /> `1 � tder pily�msnt pf the abli�stioa secured by such lien in u manner acceptable to Lender, or shall in good fsiLh eeafi�t
<br /> p
<br /> � � at�eh liat► by, or dafend enforcement of sucli lien in, iegal ��roceedings whici� operute to prevent the eniureemeat of
<br /> Lhe lia► or forfeiture af the Property or any part t.Lereof.
<br /> ` S. �d tewrano�. Borrower shall keep tl�e improvemenis now existiug ur 6ereafter erected oa the Prop-
<br /> ' /` ' e�y insured agsinat laae by fire, haasrde included within the term "eactended coverage", and euch other hsasrds ar
<br /> ! /` I.e�der msy nquire and in euoh amounts and for sucli periods us Lender rnay require ; provided , theti Lendos rh�t)
<br /> � naR tequite that the amount of suoh cove�age exceed that amount of coverage required to psy the aums reepred 'by
<br /> t4i� Moct�tse•
<br /> The insurance carrier providing tlle insurauce shall be chosen by Borrower subject to approval by I.ender ;
<br /> ptovided, that rueh approval shsil not be unreasonably withheld . Ail premiums on inauzance policiee schsll be paid
<br /> at Leader'a option in the manner provided under paragrspli 2 liereof or by Bonower making payment, when due,
<br /> dia�etly to the ineuraace carrier.
<br /> In tbe event aay policy is not ret�ewed on or before ten days of its ezpisatian, the Lendes. to pcot,ect
<br /> ib intee+eot, may procure inaurance on the unprovemente, pay the premiume and such aum ehal! beoaos
<br /> imenediately due and payable with interest at the rate eet forth in eaid note until paid and rhall be
<br /> rocue+ed by this Mortgage. Failure by Borrower to comply may, at option of Leudet, conetitute a default
<br /> ` va�es t3�e ter:ns of thia Mort�age. � � `
<br /> All itfsurance policies and renewala tliereof shnll be in for�n acceptsble to Le��der and shall include a standsrd k: "
<br /> wakt�aqe elsuae in favor of and in form acceptable to Lender. Lender ehall have the right to liold the polici�s and a`
<br /> r�vals theraof, aad Borrower ehall promptly turnish to Lender all renewal notioes and sil reoeipts of psid prsr a
<br /> miomr. I�+ the event ot losa, Bormwer sl�all give prompt notice to the ineurance carrier and Lender, snd L�det ',r
<br /> maq m�1ee proof of lo�co i! aot made promptly Uy Borrower. � , �� ,-
<br /> Un1eM Lender at�d Borrower otherwise agree in writing, insw•ance proceeds shall be applied to restor;tiqn oa �h`
<br /> repair o[ the Property demaged , provided such restoration or repair is economically feasible and the ceeurity of
<br /> tbi� btt+rhp�e is not thereby impaired. If such restorxtion or repair is not economically feasi4le or if the �seitr�tp
<br /> o� thir Moetp�e woubd !ae impaired, the insurance ��rceeeds sh411 lie applied to the sutns seoured by thu Moetsye,
<br /> wi� t6e esow, if say, paid to Borrower. If the Property is abandoned by Borrower or if Borraw�er fails to ewpon�d
<br /> ts I+eodes w��Usia 30 da�ys after notice by Lender to Borrower that tlie ineumnoe carrier ofiers to rettle s elsim fx
<br /> iawtranee bmefits, I.ender ie authoriasd to collect and apply the ineurance pnoceede sL Lender'e optio� eitiee� 6e � "
<br /> r�toratio� os repair of the Pmperty or to the sums secured by tl�is d3ortgage. �'
<br /> : UaleY I�ender aad Borrower otherwiee agree in writing, any auch application of pe�oceeda to prioeipal duq
<br /> not afe�eed or podpone the dua dste of tfie monthly installments referred to in parsgrapha 1 snd 2 hersof ar ahse�e `'�
<br /> Hr �oseuat of wah ia�tallmeate. :
<br /> If wder pa�raph 18 t�ereof the Property is soquired by Lender, all rieht, title AAd IA�ElCBE OI B�O!!'OMO[ lp ` �
<br /> aod t�o any iasursnoe polieiea and in and to tlie proceeda tlaereof (to the eztent of the eumr secured by thie MotEE-
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<br /> �1p immed'utely prior to such eale or acquisition ) resulting fram daivage to tlie Property prior to t!►e rabe ot �
<br /> ae�ti�taoa duil pare to Lender.
<br /> t AnMe�dien md � oE Prop�ely: L�holda: Coodommiusu. Borrower shaU keep the Prop-
<br /> erl� in eood ropsir and ehall not permit or commit wsste, impairment, or deteriorstion of the Pmperty and �6�11
<br /> a oo�piy wit�f the provaione of say lesee, if this �iortgage is on a leasehold. If this Mortgage is on e ooadominium
<br /> uaiil�, Bore�a�ver shall perform all of Borrower's obligations under the declaration of condomiaium or enuter dsed,
<br /> tbe bq.lswt asd re�ulstiono of the condominium project and conatituent documents.
<br /> 7. �rebelim oE L�a�d�r"i S�.writy. If Borrower fails to pertorm the covenante and agreements ooataiesd ia
<br /> thi� Moetp�e, or if aay sation or pt+aoeeding is commenced which n3ateriaily affecte Lender's iniet+atL in the Prop-
<br /> elt�, ioaludin�, but not limi�ed to, eminent donwiu , inaol�•ency , code enforcen�ent, or srrao�ement� or prooeed-
<br /> i� iavolvito� s banktupL or deoedent, then Leader at I.ender's option , upon notice to Borro�ver, snsy malce suah
<br /> apipasaaoea, disbur�e aucii sums and take eucli action ae is necesea�ry to protect Lender'e intereat, includis�, but
<br /> ae� #imited to, cli�bunanent of reasa�s6le aLtorney'e fees and entry upon tlae Prope=ty to m�ke raNaies. Anr
<br /> a� dirlptraed by i.eoder purauant to this parageaph 7, witla interest thereoa, shsli beomae sdditioa�( �de�r
<br /> �d�rr� a[ Soetowee wsont+ed by thia Mortgsge. Ualess Borrower and Le�uier age�ee W other terma of payevent, web
<br /> � as�msb �tsU be psy�ble upo�a no4ice from I.ender to Borrower requesting paya�ent thereof, aad dutl beu i+�
<br /> ' rt inam tbe dste of diebureement at the rate stated in the Note unlesa psyment of intemt at sueh rate wa�d be
<br /> i epl�ry to apQliwble law�, in wi►ioh event euch amounts shall bear intee�eet at the hi�hest nte peeaoao6Je by
<br /> ap�lio�bl� 1ar. NaEhis�Q ooatsined in this paragrapb 7 shaU require Lender to incur say expense or do aay set
<br /> 4rM'�1Mmdes•
<br /> , �. �oliM. Lender msy snalce or eause to Mc macie reswonable entnes upon aad inrpeetions ot' the Peon-
<br /> ` esl,y, prpvitied thst Leader shall �ive SorroR-er noticc ��cioe- to an}� �ucli inspection ��ecify�ing reasona6le cauce
<br /> ' 'A tiiMReto� raM'bd Lo I.ea�der's intere�t in the Property.
<br /> -. � �, Celllll�ll�. '17�s ye�eesedr of eay award or claien tor dama�as, dia+eet o�
<br /> 000sequeatisl, ia oseoeeEim
<br /> � 11qy �tiap o� ot�1►er takia� ot the Praperty, or ��art tliereof, or for con��eyanoe in lieu of ooada»aa- �
<br /> " '� • tiwt, �e l�rrb�' s�sed snd sball be �id to L.cn+der.
<br /> � 4�s ss+� mt s �otat takioR of E6d Y't�Qeet9� tlse proeeede s#iatl l�e appiied to the euma eecnred by tihd !�#aet- w�"'
<br /> � witlt fJ►a t+�aee�t. it aaY. Pa.id to Baleesaffi. In Wu eveat af s partisl trkis� of the Prope�3y, u,u1e� Boe�ro�ee� , `
<br /> ��+dM� qO�M M1�'w iu �seifiq�, Wwne abail he applied to Ehe waa» secusreci by t6is MorR�n sue6 pe�opa�
<br /> �M�f��I1MR�k �4M�►1 to t�L p�rtaoa �ieh tLe ssnawa�t ot' the simr eecuiad bq tii� Mosf�e imo�-
<br /> � lN��A1y°, (� �!e �Mtle i¢t Wtiai b�r !a f+bs tait �u4siuet vaiue of E!u !'e�o�p�ectJ' ima�ediRtety Pe�ia to tbe drube of � ;
<br /> � . , � � A� il�id ts B�Dtt+o�rer.
<br /> .,� s-� � �tAd�nrd by Ba�cra�rsr Qr if s�tter rwwiw3 Ly I�r t�u Ban�awe: tlut the eoedeonoe a�s � :
<br /> x �� � . ` � '� a� atsi�u fur �c, 8osrower tai3i to +�e►youd Lo Z.euaLu WiUua 30 dry► �i t�s d�de ` =y�::,� -
<br /> aM ;1M�io�"i�ed f�qr �eo!lMa� a�nd ap�y t3�e p�oasd� sd Lender's -�fi . �
<br /> � °pta°n
<br /> F r u AI��r► � tM'1w biM wr�a,w�apoee{ �"d� 3�torfp�fe. either W re�ocstiea or
<br /> r Erri�r�d �w�r� �-r�ese ib +rriliws, w+r7 we�i+ �p�rti�ien+ ef pe�e�+ede te rrineipnl ekeli
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