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<br /> if under paragraph 18 hereof the Yroperty is sold or tlic Property iti otherwise acquired b}� Lender. Lender
<br /> �hall apply, no later than imtnediately prior to the efslc oS the Yroperty or iL� ucyui�it.ion iiy L��uder . am' Fuods
<br /> held by Lender dt. the time of appliratiou as a cmdit �igaiu�t the sum. �erur��il I ,�• t6i� \7ort�;ugc.
<br /> 3. Appliealia► o! Paym�nts. Unless upplicahic la�c provides otl�ersvisc. :ill paywentr received by I.ender
<br /> uader the Note and psragraplis 1 und 2 I�ereof shall bc s� q�licd I >y Lcudi• r tir.t in payment of unwunts payable to
<br /> Lender by Borrower under paragrapl� 2 hereof, then to interest � �.tyu6le on the I�'ote and on Future Advances, if
<br /> � any, and then to the principa! of the Note and to the ��rincipul of N'uture Advctnces , if any . ,
<br /> {, (�horgp,; Li�ns. Borrower sl�all pay all tases, assessments and other chsrges , fines and impositions attrib-
<br /> uta►ble to the Pzoperty which may attain u priority over thie :�lortgage , and ground rents, if s�iy, at Lender's
<br /> optian in the manner provided under paragraph 2 hereof or by }3orrower �naking pay�nent, when due, directly to
<br /> the payee thereof. Borrower shall promptly furuish to T.ender all notices of amounts due under thie paragraph ,
<br /> and in the event Borrower sliall inuke payment dir�ctly , I3orro�cer shall prompcly furnish to I,ender receipts evi-
<br /> deaeing sueli payments. Borrower shall prom��tly discharge uny lien which has ��riority over this �tortgage ; pro-
<br /> vided, that Borrower ehall not be required to discliarge any sucli lien so long u� 13orrower sLsll agree in writing to
<br /> the payment of the obligation secured Uy sucl� lien in u inanner acceptnble to Lender, or shall in good faith contest
<br /> euch lien by , or defend enforcement of such lien iu , legal � �roceeding, wliich operate to � �re ��ent the enforcement of
<br /> the lien or forfeiture of the Yroperty or any part t hereof.
<br /> S. Ha:ard Insurmte�. Borrox�er shall kee� � the iiuj �ro��e�i�ents no�+• existing or hereafter erected on the Prop-
<br /> erty insured againet loss by fire, hazards included within the term "extended coveragc", :ind �uch other haznrde as
<br /> Lender may require and in such amounts and tor such r�eriod� aa I.ender iuu�� require : pro��ided , that Lender shall
<br /> � nnt require thet the amo�nt of such coverage exeeed thac amount of coverage rcyuired to }�ay the sums secured 'by
<br /> 'C' ' this Mortgage.
<br /> � The insurance carrier providing tlie insurance sliall be cliosr.0 b}� Borrowur subject to approvnl by Lender ;
<br /> C j provided , that auch approval shell not be uureasonably withheld . :�ll premiums on ineurance policies shall be paid
<br /> � at Lender's option in the manner provided under � ru�ugraph 2 liereot or by 13orrower making payment , when due ,
<br /> �— directly to the insurance carrier.
<br /> �' In the event any policy is not renewed on or before ten days of ite expization, the Lender, to protect
<br /> ^ its interest, may procure insurance on the improvements, pa,y the premiums and such sum shall become
<br /> � immedistely due and payable with interest at the rate set forth in said note until paid and shall be
<br /> aecured by thia Mortgage. Failure by Borrowez to comply may, at option of Lender, constitute a default
<br /> under the terms of this Mortgage.
<br /> All insurance policies and renewals thcreof �hall be• in forn � acceptuble to Leuder and shall include u standard
<br /> �nortgage clause in favor of und iu for�n acce� �taLte to Lendrr. T,ender rl �all ha��e the right to Iwld the policies and
<br /> renewals thereof, and Borrower shull promptly furnisl� to Lender all renew•al notice� und all receipts ot paid pre-
<br /> miutns. In the event of loss, Borrowei• shaJl gi��e proinpt iioticc: to Uie in�urance currier and I.ender, and Lender
<br /> may make proof of loss if not made pro�nptly by Borrower.
<br /> Unlees Lender and Borrower otl�erwise agree in w� ritiug, � n.w•uuce ��ruceeds �hall be applied to restoration or
<br /> repair of the Property damaged , pro��ided auch restaration or re� iair i� econu�ui�•ully feasiblc and the security of
<br /> this Mortgage is not thereby impaired. If �uch restorsrion ur rep:� ir is uot economicalh� feasible or if the security
<br /> of this A1orEgege would be impaired , tlie insurance � �roceeds shuli I �c ap� �lied tu the sums secured by thie Mortgage,
<br /> with the excess, if any, paid to Borrower. If tlie Yropeity is aban.loued by Borrower or if Borrower fails to respond
<br /> tp Lender within 30 days after notice by Lender to 13orrawer �hat the insurauce rarrier otl'ers to settle a cleim for
<br /> insurance benefits, Lender is suthorized to collect 3nd apply the insurance proceeds at I.ender's option either to
<br /> reetor,tion or repair of the Property or t,o the sums secured b�� tLis \ lortgage.
<br /> Unleae Lender and }3orrower otherwiae sgree in writiug, au}• such application ot proceeds to principat shall
<br /> not aztend or poatpone the due date of the montl�ly installrurnts referred to in paragraphs I and 2 hereof or change
<br /> ths amount of such installments.
<br /> If under psragraph 18 liereoi tl�e Yroperty is acquired by l.ender, all right , title und interest of Borrower in
<br /> aad W any insurance policies und in �nd to cl�e proceedr thereof � to tlu� extent of the �ums aecured by this Mort-
<br /> ga�e immediately prior to sucl� sate or acquieition � re�ulting from duivage tu the Yroperty prior to the sale or
<br /> aoquisitaon ehall pass to Lender.
<br /> i, pr�r�ation amd Mmnt�nancv of Prop�rty: Leas�holds; Condonainiums. 13orrower ahall keep the Prop-
<br /> erty in good repair and shall not permit or commit waste . impairment, or �ieterioration of the Yroperty and ahall
<br /> eomply with the provisions of any lease, it this \lortgage is ou a leaseholii . If this \lortgage is on a condominium
<br /> unit, Borrower shall perform all of Borrower's obligations un�ler the declaratim� of condominiu�n or master deed ,
<br /> the by-lawe and regulationa of the condominium project and constituent docuinents.
<br /> 7. P�oteetionol Iwader's S�eurity. If Borrower fx�il� to perform the covenants und agreements contained in
<br /> this �lortgage, or if any action or proceeding is emun�enced whi��li u�uterially affects I.ender'S interest in the Prop-
<br /> erty, including, but not limited to , euiinent dotnuin , In�ul ��ency , code rnfurceuieut., or arraugenients or proeeed-
<br /> in`s involving a bankrupt or decedent, then Lender ut l .ender '� option , upai notice to fiorrow�er, may make such
<br /> appearances, disburse such Duws and take sucl� uctiou :is is neces,ary to protect Lender's interest, including, but
<br /> n� lituited to, diebursement of reasonable attorney 's fees and entry upou the Yroperty to make repaire. Any
<br /> am�ount� disburced by Lender purauant to thia paragrapli 7 . �vitL interest thereon , shall becoiue additional indebt-
<br /> edaeer of Borrower secured by tliis �fortgage. Unlees Borrowei• and t.ender agree to other terms of payment , such
<br /> amount8 ehall be payable upon notice frorn Lender tu Borrower reyuestiug paytnent thereof , and shall bear inter-
<br /> est from the daLe of diebursement ut tlie rate scated in the tiote unless i�ayment of inu;rest at such rate would be
<br /> contrary to applicable law, in which event sucli amottnts shall bear interest at the highest rate periniseible by
<br /> ap�lic�ble law. Nothing containeci in this paragraph 7 shall re�uire I.ender to incur uny expense or do any act
<br /> hereunder.
<br /> t. In�ttia�n. I.ender may make or esu�e to he �na�ic rea�onablc �•ntriea upon xu�i ins�ieMionn of the Prop-
<br /> eety, provided thst I.ender rl�all give Borrow�er nou�•c� � �r�m• iu au�y �u �• li ms��eMion ���ecifpmg reasonable cxuee
<br /> t6erefor related W Lender'e interest in the Yropercy .
<br /> !. Cosd�alien. The proceeds of any awsrcl or claim fur damages, direct or consequentisl , in connection
<br /> wifh aay condenwatioa or other taking of the YroExrty , or ��art tliereoi , or ior con��eyxnce in lieu ol' condemna-
<br /> tion, are hereby assigned and shall be paid to Lender. - ;
<br /> In the event of a totsl taking of the Property, tl�e � n•ix�eeds sl�all be applied ta the sumF secured by this Mort- �,;r . '
<br /> Sa�e, witla the eze�s , if any , paid to Borrower. ln the event of a partial takinQ of the Yroperty , unlese Borrower g' °
<br /> � asd Leeder otherwise wgree in writing, there sl�all be appliect co the sun�s secured by this 1lortgage such propor- t
<br /> tia�n of tlfe proaeeds ar is eq+�al to that pro{�ortion which t6e amount of the sums necured by this 3lortgage imme- `
<br /> m �
<br /> • di�telq p�ior to the dste of ta�ciag benre to tl�e fair market value of tt�e Yroperty imn�ediateh� prior to the date of ''��
<br /> t�lrie`, tifb f!r baFaeoe of the proc�eeds µsid to Borrower.
<br /> If tbe FraperCp i� atwndoned bp Borrower or if xfter nocice by Lender to Borrower that the condemnor offers
<br /> te wloo aa aw�std or eettle a clsim for dama�es, Borrower fails to respond to l.ender within 30 days of the d�te r "
<br /> of a�oh notiae, I,endet is aut6orised W co�lect and aplaly tice procecvlt at Iw:nder's option either to reetoration or
<br /> eepair of Wfe Pronerty m� to the sums eacured by t6is \tortgage.
<br /> Usliew Lrr�der and Borrower othenv� agree in wriiu�g, uny auch u�plivatiun ui }�rocrxle w 4iriu�i��ni aLnii
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