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<br /> If under paragrapli 18 hereof th� Pro��crty is nold or ih�• Proprrt �� i , otheru� i;��� :irquire� i In� Lcrnder. I.euder
<br /> shall app1Y, no later t6ssn immedia[ely prior [o thc rale ol thc Yru� �ortc ur rt � aor � ui..�ition b �� l .i•rnier. :in�' 1�'unds
<br /> held by I.ender a,T� the time o[ upplication vs n en>dit x�;:�in,.r th�� �uw• src•un•J 6y� tlii� �Iurt�ati<• . �
<br /> 3. Applieation oi Paymtnts. Unles� a�,plicubl �• Ia�� � �ruvi. le, utLerwi.�o . ull puyuiuuis received t,y Lender
<br /> under the Note ssnd para�raplis 1 snd 2 Lereof sic311 hr u� �{ilic�i In� Lcu� ter tii:.t in � �aymene uf aniowits p�yable to
<br /> I.ender by Borrower under paragrspL l luu•eof, theu to intcrest � �u� al� le a� cl�c �otc :in� i on Future p�leances, if
<br /> � any, and then to Qhe j�rincipul of the 1Tote and to U�r � irincipal uf l�uture A� i � .in�•i•� , i ( an��.
<br /> 4. Charq�s; Lieas. Borrower shall pay ull taxes , usseesmet�t.s w�d other ch:�rgee , Fines and impositions sttrib-
<br /> utable to the Property which may nttliin a priority over t6is �lortgage , aud �rouud rents , if au,y , at Lender's
<br /> option in the manner provided under paragra��h 2 liereof or I �y Borrower uiskinR � �upment , whe❑ duc, directiv to
<br /> the payee thereof. Borrower st�all promptly furnish tn I.endc•r all notices of Zmuunts due under this paragraph ,
<br /> and in the event Borrower sLall �nake �iuyn�ent directly , }3orru« or .huil In•om� nlc IurnisL to Leu�ier receipts evi-
<br /> dencing sucl� paytnents. Borrower .liall � �rorn� rtl,y �liecharge uup lirn which hats prioritv over tl�is \lortgage ; pro-
<br /> pQ vided, that Borrower ahall not be rer�uire�l tu discliarge su} �ucL lien so lon� a� liorrowrr ,hal1 aRree �n vvriting to
<br /> L("„ the payment of the obligation aecured by sucL lien iu :� u�anuer :�cce�,table to Leuder, or sh:lll in �ood faith contest
<br /> �, ,` such lien by, or defend enforcement ol surh lien iu . Icgsl � � rucce� 3in�. �,vl , ich o� n� r:ui� co � n•c � c>nt tl�e enforcement of
<br /> L` the lien or forfeiture of the Yroperty or any ��art t hareof.
<br /> �;,, S. Hazard Insur�tee. $orruµ�er �6a11 keep tlic iiuE �rori�ment � nu��� ��xi�tiu� ur l �ereafter erected on the Yrop-
<br /> � erty insured against loss k>y fire, hazards included wit�hiu tlie terrn "extended coverage ", .and sucl� uther hazurds as
<br /> � I,ender �nsY require ssnd in sueh �smouut � :in�i for aueli � �rrio�< ;i� I .rndei• n�.i�� rc•r� iiir�� : pro�� ide� l , that f.encler shall
<br /> � not require that khe amount uf such covc��rage ext•eed thut a�uuuur of �•uver:�ge r��yuire� ; tu � �ay� the swne secured 'by
<br /> thia Mortgage.
<br /> The insurance ca,rrie�r � �rovicl;ng tLa iu.uruuce s6uil tx� �•lioarn b�� Bun�o�� rr ,uLject tu approval by Lender ;
<br /> provided , that .ucL approvat sLa)I uot be unreusonabl �• wiihhel�i . :111 premiums ou insin•ance � �olicir. ,hall be paid
<br /> ut Lender's uption iu tlie tnuuner ��ro��ided under ��,urugr:�E� l � d liere�oi or hv I3orru�cer � uul: in�; ��sc � urnt , when due .
<br /> directly to the insurance carrier.
<br /> In the event any policy is not renewed on or before ten days of its expiration , the Lender, to protect
<br /> its interest, may procure insurance on the improvc:ments, pay the premium5 and such sum sha❑ become
<br /> immediately due and payable with interest. at the rate set forth in exid note until paid and shall be
<br /> secured by this ?blortgage. Failure by Borrower to comply may, at option ot Lender, constitute a default.
<br /> under the terms of this Mortgage.
<br /> Al ) insurance policies :tind renerwul. there�of �liall I ��� in lurni :Ar �•i•��t ,� hJ� • ru Lon� l��r :iu� l . li ;ill in�• ludc :� stundar�i
<br /> mortgage clause in favor of aud iu lorni xccc� �twbl�� io Lender Leu� ier sl �ail hu�•i� th�� ri �;Lt to holil tho policie� tind
<br /> renewaln thereof, and Borrower shull pro�nptlp iurnish to I,en� ter al ! renewal notice, 3n�1 sll receipts of p$id pre-
<br /> miums. In the e�•ent oi luss, }3orrower sliull gi� c � �rou ��n � iotic.• tu th�� in,uraner currier snd Leudrr, and I.ender
<br /> may make proof oP loss if not inade pro�uptly I ,y� }3urrower.
<br /> Unless Lender und Burrower otherwise sgree in �critiu�; , iu.urauce ��rucee,l, ,�iall be app�ied w resturation or
<br /> repair of the Propertp damaged . pro��ided .u��h r�•,u,�rarion ur r�q �: iir i > � •r � niu� � u� alic i��:«il, l�• :u�a � Lc: ,ecuritv uf
<br /> this Alortgage is not U�ereby impaired . It � ucL re,tui;�tiou ur re� �:ur is not e•ronuwicalt } feusible or if the security
<br /> of t6ie lfortgage wuuld be in�paired , the insw•auce � ,roceed � shall I �.� 3p� � iie,i iu th�• ,uu �; ,ecured by this Mortgege ,
<br /> with the excess, if uny, paid to Borroµ�er. lt tlic� Yiv� �crt }� i� xhan� iune� l hy iiorro�vt�r or ii liorrou e!• tails to respond
<br /> to Lender within 3U days sfter notice by I.euder tu Iiorrower t.hut thc iusurawce c:u�ricr ofiers to settle a claim for
<br /> ineuranee benefits, l .ender is sutl�orized to cullect au�i upE,ly t6�� insur:ince � �roi•re�s at I.ender's option either to
<br /> restoration or repair ot the Property or to the sume secured Ly� tlii� Alortgug��.
<br /> Unless Lender and Borrower otherwiee ugree in writing, an}� such 3p}ilication ul proceeds to principal shall
<br /> not extend or postpone the due date of the u�ontt�ly inatallments refermd to in paragraphs 1 und 2 hereof or chsnge
<br /> t6e amount of such installments.
<br /> If under paragraph 18 hereof the Yroperty is acyuired b�• I.ender , xll right , title and interest of Borrower in
<br /> and to any insurance policiee and in and to tl� e proceed.� tl�errof ito th�� extent ui tlie swnn se�cured b�� thi; Mort-
<br /> gage imtnediately ��ria• to auch sali• m• ar�3ui�ition i re�ultiny; iruui � ia�ua�e � u the Yropet•t} � rrior to the sale or
<br /> acquieition shall pass to Lender.
<br /> 6. Pr�esrvation �d Mmaten�co of Prop�rty; Leeseholds; Coadomiaiums. 13orrower shall kee�� the Yrop-
<br /> erty in good reps�ir znd shall not permit or �•ommit �vustc, impairn�ent , ur � 3etcrioratimi ui � he Yroperty si�d shall
<br /> comply with the pro��isions ot uny leaee , ii thi� \ lortgage i. uu ,ti le:incl,ul�l . It thi. AInrtgage i, on s condominium
<br /> unit, Borrower shall perforn� all of Borrower '. obligatiuns nmler tluu declar;uion ul condo�uinium or master deed ,
<br /> the by-laws and regulations of the condominium � n•ujecc un� i r•oustituem �locumrtu,.
<br /> 7. Ptoteetion of L�ader's Seeurity. If f3orrower iail� t �� perfunn thc ooven:uit. aud a�,reeiur. nts contained in
<br /> this �lortgage, or if any action or procerdinq i� comnienccil �vhieli uixterially affeet� L�•nder '. interest in the Yrop-
<br /> erty, including, but nut limited to, eminenc dowuin . in.ul ��rucp . ,•u�1,• �•njoi•���m�.nt , or :irrangements or proceed-
<br /> ings involving a bankrupt or decedeut , then I.euder w Lcu�icr '.� o��non , upon nutic�• tu ]3urrower, niay make euch
<br /> appesrances, disburse sucli su�ns and take sucL action as i� neee�sar�� to protect I.endera interest , including, but.
<br /> not limited to, disbursement of reasonablc actorney 's fee, und entry upou th�+ Yropert�• to make repairs. Any
<br /> amounts disbursed by Lender pursuant to ttiis paragruph i , +��itl� intere,t thereon , el�all becorne additional indebt-
<br /> ednese of Borrower secured by this \lortgage. Uniess l3orrou�ei• au�i I.euder agree to other terin� of payment , such
<br /> amounte ahall be payable upon notice from Lender to Borrower reyuesting paycnrnt thereof , 3nd shall bear inter-
<br /> est from the date of disbursement at t4e rate stated in the Note unless paynient ol' interest st such rate would be
<br /> contrsry to applicable law• , in which event such ai�nounts shall bear interest at the highest rate permiesible by
<br /> applieable law. lothing contained in tlii� � �uragr�3p1 � ; ..h.ill n•r� uir.� L��nder to incui• anc expeuee or do $ny acL
<br /> hereunder.
<br /> e. Iosp�ttion. L�vulcr u�uy wxk� ur rx�use tu t �c �nx�i�• rea�onahli� rntries u� �on au�1 innprctions of the Prop-
<br /> erty, pruvided that Le�nder shall give Sm•ruHrr uotice � �riur � u um• ..w•I � in.pection y �ec�fyin� reaeonable CBUBP
<br /> therefor related to Lender's interest in the Propert ��.
<br /> 9- Cand�maation. The proceeds of auy award or �•faim ior damages, direct or concequentisl , in oonnection
<br /> with any condemnatioTi or other cuking ul thr Yru�x�rty . ur � �ar� � lu• reu7' . ur ior cou � e}�xu��r m lieu of �ondemna-
<br /> tion, are hereby asrigned and shall I�e Naid to Lender. �
<br /> In the event ot a total taking of the YroNerty . the � �roceed� �hall I �c a� �plird to the .�wus .reure�i hv thin �4ort - " "'''
<br /> g�ge, w•ith the excess, if an�• , paid to Borro���er. In t1�e e��ent ot u E ,�rtiu( taking of the Yru�x•rty , uulesn Borrower r'
<br /> i aTl�d Lender othelwise agree in writing, there s6ai1 be applied tu the swne sec�ured b�• thie '1loitgage �uch prc>por- �
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<br /> ( tion ol the ptoceeds as is equal to that proponion whirh the nmount ui tLe �ums ,ecure3 by this \lortgage imme- �,
<br /> c�istely ptior to the dste of tsking bears to the fa�r uinrk�t ��alur oi t Le Yroix m� �m�ti�iiat.�l �� nrinr ro � 1,�• �ia�P ��
<br /> takin�, witL Uw lwiaw�e uf the pra�eecie paul to Horrowc r.
<br /> Ii the ProperLy ie ,►Lauduned by Borrrower or �t xfter noure b,y Lender to Aorrower that the condetnnor offerF
<br /> to m�f[e �a award or settle �s claim for damages, Borrower fails tii resE�ond to l ,en�ier w•ithin 30 dav� oi the datr �
<br /> of eue6 notice, I,ender is authorised to �oltect and apply the pr«•ec�j� xt Lcndc�r '� uptiuu ritlu•r tu ri�,ioratiou or
<br /> repait of the Pm�.e.rty �r to the sums securcd hy� tLi:. 1lwtga�a .
<br /> i3nlees Lender and Borrower othenvise aQree iu writing, any sucl� spplication o1' proceedn tu E�rin�ipai .Lall
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