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<br /> If under paragraph 18 hereof the Yro� iex[p i� So1d or che Property is ochenvisi• a��yuired hy Lender. I,ender
<br /> shall aPp1Y, no later than iininediacely prior tu ttic �sle uf th�• Yro� �ortt• or it � acyui,itiou I,y L��uder. un}� Funde
<br /> Leld by Lender at the ti�ne of applicatiou �e u crcdit :xgain.t t6o .wu, :c��ur�•d h�• tl�i, �-I ��,�i•tguei�.
<br /> 3. Applioation o! Paytn�alr. Unlear applicshl�� law � �rovide. otherwi..c . ull pa���n�nte: receive�l by I.ender
<br /> under the A'ote and paragrapl�e 1 and '2 hereof shall hc a�,� �lied hy Lendc�r fir.t in pay�nent of u�nouMs paysble to
<br /> Lender by Barrower under psrugraph 2 I�ereo(, theu to intr:mst � �x��al ,lc on rhi� Vot �� ar��i on Future AJvances , it
<br /> � any, and then to the principal of the Note and to the principal of Future A� ivi�nei�� , if any.
<br /> C !. Cl�arq�s; Li�as. Borrower ehall pay all t3xes, assessments xnd otLer charge� , rines und im�>ositions attrib-
<br /> � C utable to Lhe Property which may attain x priorit,y over tLis �4ortgage, snd ground rents, if uuy, at Lender's
<br /> I` option in the manner provided under pxragrapt� 2 hereof or by I3orrower �nsking puyment , when due, directly to
<br /> Q the payee thereof. Borrower shsll promptly furnisl� to Lender all notices of amouiits duc under this paragraph ,
<br /> � and in the event Borrower shall make E�eyment directly , Rurru�� er .L:ill promptly furnish to I.ender receipte evi-
<br /> denoing such payments. Borrower nhall � �romptly diseL:�rge any lien which has priority over this \lortgage ; pro-
<br /> vided, thet Borrower shall not be required to discliarge any �ucli lieei so long u. }3orru�cer �l�al] agree in writing to
<br /> the payment of the obligation secured by �ucL lien in u uiunuer ucccptsblu to I.eniler, 'or shaill in good taith conteat
<br /> aueh lien by, or 3efend enforcement of auch lien i� i , legal � �roccediugn ��� I� icl� operate �o �>revent the euforcement of
<br /> the lien or forfeiture of the Yropert;y m any �,art t licreof.
<br /> S. Hasardlasuraau. Bon•uµ�er .hall kee�, tl�c iiu � �ro� ements nuw existing or hereafter erected on the Yrop-
<br /> erty inaured against toss by fire, hazards included within thc terin "extended coverage ", z�nd sucl� otlier Lazards as
<br /> Lender may require and in .ucl� amount � and (or such � �rriod� :�� L�•nder way reryuirc ; ��ro�� ided , that I.ender ehall
<br /> not require that the amount of such coverage exceed thae ainount of ��over:tge reyuired to psy the amns secured 'by
<br /> this Mortgsge .
<br /> The insurance carrier � ,roviding the in�ursnce .liall fx• rhoaeu I �ti IiorruNi• r suhject to appro��ul by I,ender ;
<br /> provided , thac sucli approval shall uoi �e uureasonnbh• �vithl�eld . All premiums au iusurance E�olicies ,hxll be paid
<br /> at Lender's option in the manner pro��idr� i under � �31'S�,P.i� lll :.� l�ereuf or Lv Rorruwer niakiug pa�� roent, when due ,
<br /> directly to the insurance carrier.
<br /> In the event any policy is not renewed on or before ten days of its ezpiration, the Lender, to protect
<br /> its interest, may procure insurance on the improvements, pay the premiums and euch sum shall become
<br /> immediately due and payable with intetest at the rate �t forth in said note until paid and shall be
<br /> aecured by this Mortgage. Failure by Bonower to cumply may, at option of Lender, constitute a defauit
<br /> under the terms of thie Mortgage.
<br /> All insurance policies xnd na�ewnls tLereoi �liall I ��• iu iurni acr�•puii �le tu ! :rinier an�l :h� ll include e stand$rd
<br /> mortgage clause in favor of nnd in fonn aeceptablr to I,ender. Lender ,I�uii l�xve � h�� rigl�t to Lold the policies xnd
<br /> renewals thereof, and Borrow�er s6u11 proruptiv furnish to L�•nder all reuewal notices an�l ;sll recei}�ts of paid pre-
<br /> miums. In the event of loss, Borrox�er shall gi��e � �rompc notiee cu the iusurauee currier and I,ender, and Lender
<br /> may make proof of loss if not inade proniptly by Iiorrower.
<br /> Unlees I.ender and Borrower otherwise agree in �eritinR . in� urance pruceeds shall be applied to restoration or
<br /> repair of the Property dr�maged , pro��ided sucli re�turation ur rr� wir i� ocuuumioally 1'ra�ible and the security of
<br /> this Alortgage is not tl�ereby impaired . If such restoratiun ur reE ,air is uot rcuuwnicalh� feasible or it the security
<br /> of thic ;1lortgage would �e impaired , thr inrw•ance � �roceeds �l � sll I ,c u�,E �iied cu ch<� ,uws secured by thie Mortgage ,
<br /> with the excess, it auy , paid to Burrower. lf tLe YrupertJ� ia sbun�luue� � I�y Bw•rou�er or if $orrower fails to respond
<br /> to Lender within 30 days atter uotice by� I.ender to Borrower that the insur�iur cairicr offere to settle a claim for
<br /> iaourance Ixnefits, I.ec�der is authorized to collect and apply tl�c insw•anec } �roreeds at I,ender's option either to
<br /> reaWtation or repair of the Property or to the su�ns secured f,�� tliis \lortgage.
<br /> Ualese Lender and Borrower otherw�ise agree in writing , any sucli applicatio❑ of proceeds to principal ehsll
<br /> not extend or postpone the due dste of the �uonthly installu�ents referrel to iu �iaragraphs 1 and 2 hereof or chenge
<br /> the amount of auch inrtallments.
<br /> If under psragraph 18 hereot the Yroperty is acyuired by Lender, all rigl�t, title xud interest of $orrower in
<br /> and to sny ineurance {wlicies and in and tu the proceeds thereot ito tiio extent uf thr ruui, secured by thie blort-
<br /> gage imcuediutely prioi• to such sale ur acyui�itiur� ) re.•ultinR ironi � iu� nage � u th�� Yropert�• prior tu the sale or
<br /> acquisition ehall pass to Lender.
<br /> �. An�r�atiom md Maet�am�e� et Prop�rty: Lws�holds: Condonuniva�s. 13orrower ehall keep the ProP-
<br /> erty in good repair and ehall not permit or commic waste . impairment , or �lrteriorat.iw, uf the Yroperty snd shall
<br /> comply with the provisions of any lease, if this \ lort�:�ge ic uu a l.�;tset�ol� l . Ii thi� \lortgage is ou a condominium
<br /> unit, Borrower shall perfornr r�ll of Bormwei'� obligation , un�3er � Lc �ieclaranon ui condominium or tnaater deed ,
<br /> the by-laws and regulations of the condominiuni � �roj �•ct au� 1 cou,tituent document. .
<br /> 7. Probctiott o! L�ndsi s $�curity. If Borrower iail.> tu � �eriorni the i•o�-euant. and ugree�uents contsined in
<br /> thie Mortgage, or if any action or proceeding ie comn�enced whic•! � materiall}� affects I .ender 's interest in the Prop-
<br /> erty, ineluding, but not. limited to, eminent domxiu . iusol ��cuc�• , cudi• raforecment , ur srrangen�entn or proceed -
<br /> in�a involving a bankrupt or decedent, then Lender at Lender '� option , upou iwtice to Rorrawer, n,ay make such
<br /> appearancerz, disburse suct� sums end talce such action ats i, ne��essary to prutect Lender's interest , inetuding, but
<br /> not limited to, disburseiuent of reasonablc attorney ', fee, and entry upou tlie Yro��rrty tu uiake repsirs. Any
<br /> atnounta diabursed by I.ender pureuant to this paragraph i , ���itl� intere,sc thereun , shall become additional indebt-
<br /> edaee� of Borro�ver secured by this \fortgage. Unless Borrower and Lender agree to other temis of payment , such
<br /> aifnouate shall be psyable upon notice from I.ender to Borrow�er reyuesting payinent tl�ereot , and shall bear inter-
<br /> ert from the date of diebursement at the rate etated in ihe h'ote unless payment of interest at such rste would be
<br /> contrary to applicuble law• , in which event sucl� nrnouute e6all bear mterest at the highest. rate permiesible by
<br /> apsflictble lsw . Nothing contained in thi� � �aragra� �h i shall rcquim I .<•nder to incur un}• rxpense or do any act
<br /> hereunder.
<br /> �. Ie�eliep. l,ender may make or rau�e to M� ma�ic rea�onahl�� ��ntrier upon and inspection� of the Prop-
<br /> ertY, Provided that I.ender nhall give Borrower notire � ,rior tu :tm� .u�•h in.�ie�•hon �� iec• ifpinR rear+onable �ausF
<br /> ttwrefor celatwi w Leuder'a interest in che Yroperty .
<br /> L C.eed�aeatipn. The ptoceede of siiy xw•tant or rlain� for cla�nagen , �iirecc or consequentisl , in oonneetion
<br /> with say coetdemnation or otbrr taking of the Yro��rrt }� . or � �art rhereof , ar for eon��ipancr in lieu of eondemna-
<br /> tioa, are heneby ae�ignecl aud shall I,e paid to I,ender.
<br /> In the e��ent of x tota] tdki�ig ui tl�r Yro}�erty , tk�r � �r�-red. sl �all I �e a��pheci to the sum� seoured by th�s A1ort- „�
<br /> gase, with the exce� , if any , paid to Sorrower. tn tlie e�•en[ of :� � �urtisl tukinq of the Yrop.�rty , unless Bormwer �'" • :�:
<br /> +wA Lendet othenviee aaree in wntin{�, td�ere sLail be ap��lird to tl�r euuie .ecurecl t��• tlii. �fortgage �;uch propor- �`
<br /> l tien ef tfie prooeede ss is equa! to that proportion which the su�owit of the �utu� .rcured by this \'�ortgage imme- `�.
<br /> ` dia�tely prior to the dsu of takia< beurs to tl�e fsir market ��nlue of' tl�r Yro�xn �• immediateh prior to the date of �
<br /> tai[fa�, with the !►slanne of tt�e proceeds paid to Borrower. � , .
<br /> � tbe P11DpClty ii ab�xdoned by Borrowei� or if xiter noh� h�� l,ender tn F3orrc�wer tlasr th� �•�n.1Amn�+r n}I�PP
<br /> to �ulcr an avatd er aettle a cleti+en for �1ame=es, $orrow�er fail� to respond to Len�l��r witl� ii � 30 �lav�: i�f tl�r dutM
<br /> �i weeh aot�, i.esWer u authortsed to collect anaf �pl,y the pmc�eecle xt l .ender'� uption vither ro rectoration or *`
<br /> t�ap�ts' of t6e Propeie�ty ot W Lhe eut�w eecuced by this \tortgage.
<br /> Uakss Le�tder ara1 Borrower otherwise �ree in writ,ing, any sueh application of proceedc to prinripal shall
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