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<br /> If �mder ��aragra�,�6 1S I�ereof thc Pro�rerty ia wld or tlie Pro� rertp i, uther�� i-..� a�•� � uir��d I ,}� Lender. Lender
<br /> shall apply , no later tlian iuin�ediately � �rior tu tlur .=ulc ul tln � Yru� u• rt � � n �i • :iryui� niun h•r L�•u� l�•r. :� u�- Fuud.
<br /> held by Ixnder at the time oi aP��li�atiou a. ti rrc•dit .«uiu>t the <u�� i. <i�i, urr� l In thi, \ lort �uhr .
<br /> 3. AppGeatiOa ol Paym�nts. Unles. x( �plicsblv I:i��' � �rovi� {o. other�si��• . all � inyiucnt � reoc•ivi•� i ht' I.ender
<br /> under the Note and paragraphs I und '2 hereof .I �all bc a� ,� � lic� i hy Lend��r f�� r�+ iu � ��ciuent uf ;unuunts payable tu
<br /> Lender by Borrower under paragraph 2 hereof, then to intemst � �nyahl�� un rl�e Auti� ;inr1 on Future A� ivxncee , i (
<br /> uny, and t.hen to the priucipal uF the Note und to thc � nin��iprl of b'uturc _1� I �;in��, �; , if' any .
<br /> {. Charg�s; Liens. Borrower el�all puy all tuxes , assessiuentn .tn�i otl�rr charg��, , fini>: and inipositions attrib-
<br /> � utable to the Property which may attaiu a priority over this \Iortgage , an�! ground rentri , if uuy , ac Lender's
<br /> option in the manner provided under paragraph 2 hereof cr !�y f3orrower � nuking payment , when c3ue�, directly to
<br /> the payee thereof. Borrower shall promptly furnisL co l,ender :� II notices oi amou� its duc under tLis paragraph ,
<br /> and in the event Aorrower ahssll mako payment dimctly , Borru�se�r .hnil � � runiErtlp� t' urnisli to I ,eiider receipts evi -
<br /> dencing such payments. Borrower shall � �rom� rtly discliarge ;u�y lien whi�li l�a� �n•iorit.y ocrr thin �lortgage ; pro-
<br /> vided, ti�at Borrower shall not be requimd to discliarke any �uol � lien so Iung u, Itorro�cer .liall agrre in writing to
<br /> the payment of the obligation secured by-� auch lieu in :i manurr :icce��t .il �lc to Leu� ter , cri• �hatl in gowi faith contest
<br /> �; such lien by, or defend enforceme�it of such lic:u in , legal � �rocecding.. �� hirli operate to prrvent the eutorce�nent of
<br /> L , the lien or forfeiture of the Nroperty or an�� l �art. tl �creof .
<br /> � 5. Hazard Insuraaco. Borrowei• si�all keep clic iiu� u•u � eu�enc: uu�� exisnir�; or i �ereuiter ereeteci on the Yrop-
<br /> L urty in�tured ageinst� loss by fire, hazards included wichiu the ti�rm � � extende�l uoverage " , and sucl� other hazards as
<br /> ` Lender may require and in such amounts and ior .ucl � � �erio� l� :i� Louder wa� myuirc : � vo� ided , that Lender ehell
<br /> .` not require that the amount of sucli coeerage� exeee�i thut umount of ou ��rrsge r��yuired cu ��u}• the su �ns secured ' by
<br /> this Mortgage.
<br /> � The insarance cxrrier i �rovidic:g t1�e in.ur:tucc �liull br rhosen i �� Bon�uN ��r ,ut �je��t to spt � ro�- al fiy Lender :
<br /> � provided, that such u}>proval shall iwt be unreasonabl}� withhel�i . _�11 premiums on insurance � �olici��� ahul ! be paid
<br /> at Lender's option in the manner � �ro�•ided um�er � �aragru� �l � 'L hereuf or h�� I3orro«�rr ivakinR � �apiur_ nt . when due ,
<br /> directly to t.he 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 improvements, pay the premium� and such sum shall become
<br /> immediately due and payable with interest at the rate aet forth in said note until paid and shall be
<br /> secured by this Mortgage. Failure by Borrower to comply may, at option of Lender, cunsLituCr a default
<br /> under the terms of thid Mortgage.
<br /> All insurance � �ulicie, and rer�ewal. thereo2 ,.linlf I �e in furui acro� » shle tu Le�i�ier uu�! shall iucludc s stsu�lard
<br /> mortgage clause in favor of und in form accu� �tuble tu L,�•n�lrr. Lend� r �h;ili hv ���� tlii• right to liol�l tta.• � �olicie, und
<br /> renewalr� thereof, and Borrower sl�all promptly furniah to I,eud�•r ult renew3l uofice. and all recei{�cs of paid pre-
<br /> tniums. Iu the event of luss , Borrower shall gi ��e prouipt uonce tu thc insursnre varrier snd Lender, and Lender
<br /> may make proof of loss if not made proniptly� b}• I�orrower.
<br /> Unless Lender and I�orrower othenvise s�;rce in ��� rit.in�;, in� ur;u,c�• � ,ruceed, �hall be applied tu restoration or
<br /> repair of the Property damaged , pro�•ided such restorstiun or ri•E�:iir i� e� uuuiuirull}- fi�u,ilrle ;in�l the securitv of
<br /> this �lortgage ia not tl�ereby impaired . If suct � r��stor.itiun m� re� �;iir i� uot �•�•unu�nic.� lh• Cuaeible or if th� security
<br /> of this �iortgage would be irnpaired , tLu insurance procee�l� �hxll { ,i� uE �ylic� l tu the swns secured by this Mortgage ,
<br /> with the exeess, i1 any , paid to Horruwer. li the I'ro��crty is aLau� luued 1 ��• 13orro�cc�r ur i ( I3onu�cer j,sf�; tu respond
<br /> to Lender within 30 days after notice by Lc�nder tu 13orrower thut tlic insurance carrier ol�'er, to settle a clai[n tor
<br /> insurance benefits, l.ender i� authorixed to collecr und apph� thc• insuratnec proc��eds ut I,ender:. option either to
<br /> restoration or repair of the Property or to t4e swus serured b}• tlii, Jlortguge.
<br /> Unleea Lender and Borrower otherwise agree in writing, any �uch spplicKtion of pruceeds to principal shall
<br /> not Pactend or postpone the due date of the monthly iustalliuc•nts referred to in paragraphs 1 und 2 hereof or chrnge
<br /> the amount of auch installments.
<br /> If under paragraph IS hereof the Yroperty is acquired by Lender, xll rigl�t , title and interest of Borrower in
<br /> and to any insurance policiea and iu and to the proceedr t6rmol � tu t {u� c�ccnt of th�� ,um. secw•ed ba tLie D1urt -
<br /> gage immediately ��ria• to �ucl� sale or acyui.� itio[u re.ultinR fru� u � {ntu,ig�• to thi� Yroprrty � �rior to the sale or
<br /> ucquisition shall pass to Lender.
<br /> 6. Pr�ssrvation �d Mmnt�a�cs o! Prop�rty; L�awholda; Coadomiaiums, liorrow•er shull keep the Prop-
<br /> erty in good repair aud shall not � �ermit or cocnwit w�ste , in�i� �uir�uent , ur � {et ��riorauou uf the Property and shpl!
<br /> comply with the provisions of any lease, if' thi, Uortgage i� un :i Ir;i;el,ol� i . If t6ia \lortgage ie o❑ a condominium
<br /> unit, $orrower shall perforni ull oi Borrower 's obligati�m� under � he declsi:uiun uf condoniinium or master deed ,
<br /> the by-laws and regulations ol' the condominiuiu � � rujrci an �1 ronstituent doi• ument = .
<br /> 7. Proteetioa oE Iwndei s S�eurity. If Borrower i:iil � ru � �criortn the �•o��enaut ; .im ! :��;rteeweutc contained in
<br /> thia \lortgage , or if any action or procecding i� comu �enced which uiateriull�� affeet� f .<•mler 's interest in the Prop-
<br /> erty, ineluding, but not litnited to , euiinent doivain , in.xul �'rucc , cud�� �aijorcrnwnt , ur arrau�etuent- or Proceed-
<br /> inga involving u bankrupt or decedent , then Lender e� Lcuder:. u� , ciun , u{�un uutice [ o Rurrower, t��ay �nake such
<br /> appearanees, disburse such swns and take sucl, uction a, i� nr� e.cary to procect Lender', interest , includ�ng, but
<br /> not limited to, disburse�nent of ressonable attorney ',� lee� and ��ntry upon ti�p Yroperty Lo inake repaire . Any
<br /> amounts diebursed by Lenderpursuant to this �,aragru}�h 7 , �� itli interest thereon , shall becon�e additionsl indebt-
<br /> ednese of Bonower secured by this \lortgage. Unless Borrower aud l .ender agree to other tenns of psyment, such
<br /> amounts shall be payable u}wn notice from Lrnder to Borrower reyuesting ps,vment thereof , a��d shsll bear inter-
<br /> est from the dste of disbursement at the rate stated in the �ote unless payment of intere�t at such rste would be
<br /> contrery to applicable laK• , in which event such xmounts �Lall bear interest at thc highest rate permiseible by
<br /> applicable law. 1Tothing contuine�i in this � �urssgrat�h 7 ,hnll requiri� l .ender to incur an�� ezpeuse or do any act
<br /> hereunder.
<br /> 8. lmp�etioa. Lender rnay make or �•au�e to b�� mv�l�• rcanonxhlo ontrie. upuu ami in,pectiune; of tl�e Prop-
<br /> ertY, Pruvideci that I_ender � lisll give BorroH�er noti�•i� � �riur iu :� n }• •urli in .� ���atinn .� �ecif�• in� rea.wnahle csu�;e
<br /> therefor related to Lender's intere�t in t !�e Yro�>c, rt �� .
<br /> 9. Cond�mmotioa. The proce�eds of anp award or rlain� for �iiima�es , direct ur consequentiai , in conhection
<br /> with any condemnation or other taking of the Yrupert �� , or � �art tli��reof . ur for i�un�•e�•xncr in lieu of rondemna-
<br /> tion, are hereby seeigned and �h�ll he Paid to T.ender.
<br /> In theevent of a total takingof thi� Yroperty ; che � ,rori�e•�1 , � hall I �� ;il ,� �iie�i to thc �uiu� �c��ured I> �� this !�iort -
<br /> gage, with the exeess . if an}• , paid to Borroa•er. ] n tl�e event o1' a � �:�rtial tsking oi the� Pru� x�rty , unlp�n Borro�ver „,>
<br /> and Lender otherrvise agree in writing, there RIlSII I� ap� ilie�{ to tf�r tiums Meumd by tl�i• \ lortgnge .�uch propor- t;` � �
<br /> s tion of the pzoceeds as is equal to thac proportion which thr nnwuut o1 the sumr necure�i bp thie \lortgage imme- �
<br /> fdiately prior to tl�e date ot taking bears to tlie fair �nark�•t ��alur of t6e Yro�xn� i�nnirdiatel}� prior to thi� d&te of � '��
<br /> ts�tin�, with the balance of the proceeds paid to Borrower. "'�
<br /> If the Property ie abandoned by Borrower or if ;aiter notice b�• Lender to Aorrower tliat the coudemuor oSerc
<br /> to make aa s�vard or settte a C13in: fOi .lou.agta, I3urruwer ix�i� tu re.�,uuu w I.ruUer wiUun ;i11 uavti o1 thr Aatr
<br /> Of RUC�t tt(N'�1CP, I,ender ia suthorized to CO�IL'.Ct :1I14 :lElj>i �� tl�v jiPua'a;ci�n .� I � .i"LUc1 .. u� �tl��u wl ! Irl' lu fr�tU1861Uti 01'
<br /> t�ir of the Property or to the nu�us secureci by tl�ie \IortRage . �
<br /> Unleie I.ender and Borrower othenvise agree in writing, any such application of procr.ed� to pnn��ipal shsll
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