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<br /> If under pnrngrnph 18 hereof the 1'ropert,y is sold ur the Yropert�• is other�cise acnuired by 1,ender, I,ender
<br /> shull npply, no Inter ihnn immediutcly Prior to thc r:nle of the Propert}• ur its ucqui�ition b}• Li�uder, ;urv Punds
<br /> held by Lender nt thc timc of npplicntion as i� credit ngainst Ihe sums �ccured hc thi� �lurtguge.
<br /> 3. Applieation of Paymenls. Unicc� j�pplicnble laa• pro�•ides otherwi�e, ull paymcuts received by I.ender
<br /> undcr the Notc und pnrngruphs 1 nnd 2 hercof shull bc npplicd by Lcndcr (irst in payment of ttmo�mts paynble to
<br /> Lender by I3orrower undcr pnrngraph 2 hereof, then to interest payablc on thc \otc �uid on I'ulure Advimces, i[
<br /> ;�, nny, aud then to the principnl of the ilTote mid to tlic principnl o( TuLure Ad�'nnces, if aup. �
<br /> � 4. Chargea; Liens. Borrower shail pay nll taxes, nesessments uud othcr chnrges, fines and impositions attrib-
<br /> �, utAble to the Property which rony nttain u priority over this �Iortga�c, and ground rents, i[ any, at Lender's
<br /> � option in tlie manner provideci under pnrngraph 2 hcrcof m• 6y I3orro�ccr roaking payment., when due, directly to
<br /> G thc pnyee thereoL Borro�ver shall promptly furnisli to Lendcr nll uotices of amounts due undr,r this parngrnph, �
<br /> nnd in the event Borrower sLall make puymenL dircctl}•, 13orroorr sliall promptly (urnisl� to I.ender receipts evi-
<br /> �� dencing sucL pnyments. Borrower shall protnptly dischurge an}• licn �vhich hns priority o�•er this \lortgage ; pro-
<br /> ^ vided, thnt Borrower shull not bc required to dischargc nn�� such licn so long :�s I3orma�er 'shnli ngree in writing to
<br /> the payment o[ the obligntion secured by such licn in n munncr acceptable to I.ender, or sliall in good fnith contest
<br /> such lien by, or defend enforcement of stich licn in, legal proccedings ��•hicli oper;�te to prc�•ent thc enforcement of �.
<br /> the lien or forteiture o[ thc Yroper6y or nny pnrt tl�crcoL
<br /> SEE RIDER 5. Hazard Insurance. • - '
<br /> �_� �nc ra� nrtni ef ncc I��. r �o I.��� �.1� :���.. l ...l ...•�l : < < ii _ . _ -
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<br /> The insurance cnrrier providing tlic insarancc sl�nll bc chosen b}• 13orro«•er subject, to approvnl b}� Lender ;
<br /> provided, that such approvnl shnll not be unreasonnbly �cithheld. ,�Il premiums on insurnnce policics sl�ull 6e paid
<br /> nt Lender's option in tLe munner provided undcr pnrngraph 2 hereof or by Borroicer muking pnyment, when due,
<br /> directly to the insurunce currier. , '
<br /> In the event nny policy is not renewed on or betore ten days of its expiration, the Lender, to protect
<br /> its interest, may procure insurance on the improvements, pay the premiums nnd such sum shull become :
<br /> immedintely due and payable with interest nt the rate set forth in said note until paid and shnll Ue
<br /> secured by this Mortgage. Failure by Borrower to comply may, ut option of Lender, constitute n detault
<br /> under the terms of this Mortgage.
<br /> All insurnnce policies and renewnls thereof �hnll he in form aceeptable to I.ender and shnll includc a standnrd
<br /> mortgnge cluuse in favor of and in form acceptable to I.ender. I.ender shull hnce the right to hold the policies :md
<br /> renewals thereot, and Borrox•er shatl promptly furnisl� to I.ender al) renen•nl noticr,s au�d ull reccipts of paid pre-
<br /> miums. In the event of loss, 13orrower sLall gicc prompt notice to the iusurnnce carrier nnd Lender, and Lender :
<br /> muy mnke proof of loss if not made promptly bc Borro���er.
<br /> Unless Lender und Borro�ver otherwisc agree in «•ritii�g, insurnuce proceeds sl�all bc applied to restoration or
<br /> repnir o[ the Property damnged , provided such restoration or repnir is economir.illy fcasibte und lhc security of
<br /> this \fortgnge is not thereby� impnired. If such restor:ition or repnir is not economicall}• fensible or if tl�c security
<br /> of this �fortgnge would be impaired, tl�e insurnnce procceds shnll be .�pplicd to thc sums secured b}• this \fortgage,
<br /> with the excess, i[ nny, puid to 13orrowcr. If the Yroperty is abnndoned by Borro«•cr or if I3orro��•er fails to respond
<br /> to Lender within 30 days attcr notice bp I.ender to Borro�vcr that thc insurnnce carrier offers to settle u claim for
<br /> insursnce benefits, I,ender is uuthorized to collect and np�>I}• tLc insurnt�ce procceds nt Lendcr's option cither to
<br /> restorntion or repnir of the Ptoperty ar to fhe sums secured 6}• this \Iortgngc.
<br /> Unless Lender and Iiorron•er othcrx�isc ngree in �r�riting, nny such application of proceeds to principal shall
<br /> not extend or postpone the due dnte o[ the montLly instnllments re(crred to in pamgrnphs 1 and 2 hereo[ or cl�ange
<br /> the amount ot such instnllments.
<br /> If under paragrnph IS hercof the Yroperty is acquired by I.ender, all right , titic and interest ot Borron•er in
<br /> and to nny insurance policics and in and to thc procceds thcreof Ito tlic extcnt of thc smus secured bp this �Iort-
<br /> gage immediatel}• prior to such salc or ncquisition ) rceulting trom dniungc to thc Yropert.J• prior to the snlc or
<br /> acquisition shnll pass to Lender.
<br /> 6. Preservation �d Mmntenance oE Proporty; Leaseholds; Condominiums. 13orro�cer si�all keep tlie Prop-
<br /> erty in good repair and shall not, permit or commit �enstc, impnirment, or deterioration of the Yroperty and sl�all
<br /> comply with the proeision� of any lense, if this \lortgage is on a Ieascliold. It this \[ortgage is on n condominium
<br /> unit, Borrower shall per(orm nll ot Borroti�•cr's obligations imder thc declnration of condominium or mnster deed ,
<br /> the by-lnws and mgulntions of thc condominium project and constituent docwnents.
<br /> 7. Protection of Londei s Security. If I3orro«•er i�ils to periorm the coecnnnts aod agreements contnined in
<br /> tl�is �Iortgage, or if any nction or proceeding is connnenced �vhich mntcriallq aftects I,ender's interest in the Prop-
<br /> erty, including, but not limited to, eminent domain, iu�olcency, code enforcement , or nrrnngements or proceed-
<br /> ings involving n bnnkrupL or decedent, then Lendcr nt I.ender's option , upon notice to I3orrower, mny makc such �
<br /> uppenrances, disburse such swns nnd take such action ;�s is uccessnry to protect Lender's interest, including, but
<br /> not litnited to, disbtusement ot reasonablc attorncy's tees and entry� upon the Yroperty to make repnics. Any �
<br /> nmounts disbursed Uy Lender pursuant to tl�is parngrnph i, «•itl� infcrest thcreon , shall become additionnl indebt-
<br /> edness oi IIorrower seeured by this \tortgnga Unless Borro�cer and I.ender agcee to other terms of payment, sueh
<br /> amounts shsll be pnynble upon notice frmn Lender to Borron•er rcqucsting pnyment thereot, and ehnll bear inter-
<br /> est from the dnte ot disUursement nt the rate stated in thc Notc unless pnyment ot interest ut such rnte would be
<br /> contrary to applicnble la���, in ���hich event such amoimts sl�ntl benr interesf at the highest rnte permissible by
<br /> � npplicnUle law. �iothing contained in this paragruph i shnll requirc I.ender to incur any expense or do an}• act
<br /> � hereunder.
<br /> ; 8. Iaspaction. I,endcr mn�• make or cnusc to hc madc ren�onahlc entric� upon nnd in�pections of tlic Yrop-
<br /> � erLy, provided that Lender �hnll give Borrwccr notice ��rior to :in}• �u�•li inspcetion �peci(ying ren�onablc causc
<br /> � therefor relnted to Lender's interest in the Property�.
<br /> 9. Condemnation. The procecds of nny a«•urd or rlaim for damages, direct or consequential , in connection ,
<br /> j �vith nny condemnntiou or other taking of the Yroperty, or pnrt thcrcof, ur (or com•cynnce in licu ot condemnn- i
<br /> { tion, are hereby assigned and ehnll bc paid to Lendcr. n- f �
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<br /> ; In the ecent ot n total tnking o( the Yroperty, tl�e proceeds sliall be applicd to the smns secured by this �fort- • ' <
<br /> 1 gnge, «•ilh t4e excc<s, i( any, pnid lo IIorroo•er. In the e�•ent af n pnrtinl taking o( the Property , untess Borrower t,� � N • 1
<br /> t and Lender othenvise agrec in «•riting, fhere shnll bc npplicd to the smns secured by this \tor4gnge such propor- � � ,: •
<br /> i tion of the procecds ns is equsl to thnt proportion which the nmount of the sums secured by this \iortgnge imme-
<br /> : dintely prior to tl�c date of taking benre to thc fnir mnrkct vnlue of the ProperL}• immedintely prior to thc date oi � '
<br /> ' tnking, with the bnlnncc of the proceeds pnid to Borrou•cr.
<br /> � It thc Yroperty is nbandoned by Borrower or it n(fer noticc b}• Lender to Borrower thut the condemnor ofTers �
<br /> 1 to make nr� awnrd or settde a claim for damages, I3orro«�cr fnils to respond to I.endcr within 30 days of thc dnte �
<br /> of auch notice, Lender is nuthorized to collect and nppl�• the proceeds nt 1,ender's option either to restoration or
<br /> repair of tlie ProperLy or to tl�e sums secured Uy this \lokgngc.
<br /> ]Jnlcss Lender snd Borrocver other�vise ngree in writing, any sucl� npplicntion ot proceeds to principnl shall
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