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<br /> If under ��aragraph 18 hereof the Yro� �erly i, ��il�i ur tLr Propert �� i, otl � enci,�• ;u•� � uim� ! hy Lender, Lender
<br /> ,hall app1Y, no later than immediately prior to t6�• sulc of the Yro� �ert �• ur i� � uoyu �sitiun Ly L��u�i��r . any Funds
<br /> held by Lender r�t t�he time of upplication ;se :x rre�iit aKuiu�t thc >uuis �ocw�r� 1 b�• thi. A1urt �;ugr .
<br /> 3. ApplieaHon o! Paymonls. LJnlesr :{p� �lirablr lao � �rovides utherwi..� . all pa�'nient� rccei�•��d Iry I.euder
<br /> under the Note unJ paragraplis 1 und 2 hereof sliall I ��� u��� �lie�i b}� L��n�li�r tirst in �iayuu•nt uC u�nuunts � �uyable to
<br /> Lender by Borrower under paragrapli 2 hei•eof, tLeu to intcrest. � �,iyat�ti• on cl �c Note and on Futurr Ad ��encee, if
<br /> any, and tlien to the principal of the Note und to tlie princi ��fil of Futurc A �i�•un�•e� , if snv .
<br /> � 4. Charg�s; Liens. Borrower shall pay all taxes , assessments und otticr ��Large� , fi �ies ar.d impositioue attrib-
<br /> utable to the Property which may attain u priority over ti�i�; '_4iortgage. and �;round rents , it auy , at Lender'e
<br /> option in the manner ��rovided under paragraph '2 hereof or b�� Borrower making � iayment, when due . directly to
<br /> � the payee thereof. Borrower shall promptly [uruish to I,endcr sll notices of amounts duc under this paragraph ,
<br /> � and in the event Borrower shall make pa,yment directly , Borro�cer sLx�ll protnptl,v iurnieh tu I.ender receipts evi-
<br /> dencing sucli p$yments. Borrower shall t�rom�itly discliarge i+u�� lien wliich ha. � �i•iority over this \Iortgsge ; pro-
<br /> � vided, that Borrower ahall not be required to discharge any sucli lieu so long a� fiorrower shall agree in writing to
<br /> the payment of the obligstion secured by such lien in :� manuer acceptsble to I,cuder, or �halt in good faith contest
<br /> � eueh lien by, or defend enforcement of sucli lieu in , legal � �roceeding� wl� icl� operute to prr.venr t h�� enforcement of
<br /> � the lien or forfeiture of the Property or ssny part tliereof.
<br /> 5. Hazard Insurm►p. Borrower shall kee��> tl �c iiu��rorements noH� eaistin�; or heressfter erected on the Prop-
<br /> erty insured against loss by fire, hazards included withiu the teriu "extended coverage" , snd such otl�er hazards as
<br /> � Lender may require and in such atnounts and for such � ,eriods u= Lender mu�� requirc ; pro��i�led , that Lender shall
<br /> � not re uire that the arnount of such covera c exceed tl�ac »u,ount ��f c•ovrr:� c rrc uired to �a the sums secured 'b
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<br /> this Mortgage.
<br /> The insurance carrier providing tl�e innurauce �hall Vo chosen liy� Borrower nubject tu approval by Lender ;
<br /> pravided , th$t such approval sl�all not be unreusonabh� withheld. _111 premiume on insurance ��olicies shall be paid
<br /> at Lender's option iu tlie matiner providrd uuder ��aragraE� li 2 hireof or b}• Rorrower making ��syment , when due ,
<br /> directly to the it�surance carrier.
<br /> In the event any policy is not renewed on or before ten days of its ezpiration, the Lender, to protect
<br /> ite interest, may procure insurance on the improvements, pay the premiume and euch 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, constitute a default
<br /> under the terms of this Mortgage.
<br /> All inburance policies and renewal. thereuf .I�xll l �c in foriu :irevptubl�� tu Lcu�ler u �ul �lixll inrlude a standard
<br /> mortgsge clause in favor of anc! in forw acceptabk ro Lender. Lrn�irr rh�ll La� e• th�• riglit to hold the policies und
<br /> renewsls thereof , and Borrower shall promptly furnish to Len�ler �I1 renetcssl notic��� and all receipts of paid pre-
<br /> miums. In the event of loss, Aorrow�er shsll gi��e � �rompt noticc to ihe iusurauce currier �nd I.ender, and Lender
<br /> msy make proof of loss if not �nade protnptly by Borroµ�er.
<br /> Unlese Lender and Borrawer otlierwise ss�;ree in ���riting , insuraiicc �n•oceeds ,hall be applied to restoration or
<br /> repair of the Property damaged , pro��ided sucl � re�toration ur n•E �air in ceonouii��ull}' frasible aud the necurity ot
<br /> this Mortgage is not thereby impaired. IP �uch restorutim� or rep:� ir i� uot rconmuic;sll �� feasible or if the seeurity
<br /> of thie lfortgage would be inipaired , the in�urance � uocee�ls � heill I ,e n��plied to th�� � ums secure� by this Siortgage,
<br /> with the excess , if any , paid to Borrower. ! f the Yropercy is at,an� ione� i by Burrow•er or if 13orrower faile to respond
<br /> W Lender within 30 days after notice by I .euder to Borro�a er that thi� insurance �•urrier offers to settle a claim for
<br /> insurance benefits, I.ender ie authorized to collect snd appl�- thc iusurxnce proceedb at I.ender', option either to
<br /> restoration or repair ot tlie Yroperty or to ihe sums secw•ed t ��� � hi, \ lurtgage.
<br /> Unlees Lender and I3orro�eer otherwiee ugree in writing , any� such ap��licatiou u( proceeds to principal shall
<br /> not eztend or postpone the due dste of the iuontlil}� instullments reterred to iu }�uragraphs 1 and 2 hereof or change
<br /> the amount ot such installments.
<br /> If under paragraph ]S hereof tlie Yroperty is acquired t �y Lender , r�ll rigl �t , title and interesL of Borrower in
<br /> and to any insurance policies and in an�i to che pruceed, thereof ito r1u• cacenc oi the �um� serured by this Alort-
<br /> gage immediately prior to such sale m• acyuisitioni re.�iiltiu �; froiu duwuge ti, the YrupeMy ��rior to ttte sale or
<br /> acquisition shall pass to Lender.
<br /> 6. PrNsrvation �md Mmnt�n�es oi Prop�rty; I.�assholda; Condomiaivaoa. 13orrower shall keep the Yrop-
<br /> erty in good repair and shall not permit or cummit waste , i�npair�nent , or d��t�vioraciou of the Yropert}� and shall
<br /> comply with the provisions of ssny lease , if this �Iortgage is uu a leasehoLL I � tl�is \lortgage is ou u condominium
<br /> unit, Borrower shall perform all ot Borrower ', ubli�atiuu� undcr the declurstiuu of condo�ninium or master deed ,
<br /> the by-laws and regulatious oi the condomiuiun � � �roject and constituent docun�ents .
<br /> 7. Proteetion o! Ladei s S�cuzity. I1 Borrow�er iail; tu � �erforui the co�•enaut . and agreenieuts contained in
<br /> this Vfortgsge, or if any action or proceeding is commenceci which muteriully uffrrt � Lender's interest in the Prop-
<br /> erty, including, but not ]imited to, eminent douidin , iu.ol ���v�c�� , cude ��•nforcr,ineut , m• arrungen'�ents or proeeed-
<br /> inge involving a bankrupt or decedent, t.hen Lender uc Len�l�•r '� op� ion , upon notirc� w 13urrawer, may make such
<br /> appearancea, disburse such sums and take suc6 uccim � ss i � n��ce.,ary tu protect Len�ier's interest , including, but
<br /> not limited to, disbursen�ent of' reasonable nttorne�• 's iec. snd entry upou che 1'ropercy w malce repairs. Any
<br /> amouats disbursed by Lender pursuant to tliis parugra�il� 7 . witli iuierest thereon , atisll t,ecome additional indebt-
<br /> edaese of Borrower secured by this �lortgage. LJnless Borro�crr and Lender agree to other ter�ns of payment , such
<br /> amounts shall be payable upon notice trom Lender tu Borrov� cr reyuesting paymeuc thereot , sud slisll bear inter-
<br /> est from the date of diebursement at t6e rate ststed i❑ the _1 ote unless � �ayment ol interest at euch rate would be
<br /> contrary to xpplicable lsw , in which event nuch amounts shall bear interest at the highee�t rate penniasible by
<br /> applicable law . Nothing cuntained in thi� pxrngra��l � i shall rc�� uin• Lender to incur un} expense or do gny act
<br /> hereunder.
<br /> 8. Insp�ebon. Lender �nay make or �•au�e tn h�• ma�ii• rrai�onxhl�� � �ntrie� n� �nn an�i incpertion� of thF prop_
<br /> ertY, provided that Lender �hall give Borrowrr notic•<• � � riur � o :u�� •u�•I � in=� .rrtiun �� �e�•if}• �n�; rea.onable cauae
<br /> therefor related to Lende:'s mterest m the Yroperty.
<br /> 8. Cond�maa4on. The proceeds of x�ny award or claini ior � iamage� , dim�•� or conseyuential , in connection
<br /> with any conde�nnation or other taking of the Yroperty , ur � �art tlu•reoL or for i�uu�•e�•nn���� in l �eu o[ rundemna-
<br /> tion, are hereby nesigned and shall be paid to Lender.
<br /> In tlie eve�u uf a tutxi taking of the YroNrny . thc � �rocerd.� �I �all I ,e applic�i tu thu �um� .e�•ured by thih Mort- , �.
<br /> gage, with the ezcese , if any , paid to Borro�aer. Iu tlu� event uf a � iart �al taking ul the Yro}�rrt} , uule�s Borrower � `
<br /> and Lender otherwise agree in writing, there ehall be ap��lie�i ru tl�e swu�; ae<,ured by thiN \lurt�nge such propor- �� �j �
<br /> i tion of the proceeds as is equsl to that pro�wrtion which tl�e amount of' the ,uins ,ecured by� this \Sortgage imme- 'y�
<br /> ` dutety prior to the date of taking bears to the fair �nurket value ol tLr Yropercy imtY�eciiatelq prior to the dste of ,�
<br /> ' taltin�, with the bslanee ot the proceeda psid to Borrower.
<br /> If Ehe Property ie abandoned by Borrower or if xfter nocice bv Lender to Borrowrr that the conde�nnor offen:
<br /> to make an s+vsrd or settle a elaim for dainages, Borro�� er fsils tu ces��ond to Lender w•itLi�i 30 dace of the dat.��
<br /> of weh notice, Lender is authorised to collect and ap��ly tl�e prucc�is at I .ender'� optiou either tu restoration or "'
<br /> repair of the Property or tu the eums eecured by tliis \lortqagr.
<br /> Unlees Lender and Borrower othenviee agree in writing, any such application of pmceedn co ��rincipat ehall
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