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<br /> If under paragraph 18 hereot the Yropert�� is .old ur t6i� I'ro� �ert�• is ut.her�� i�r :�oyuirrd 6�• f ,en�ler, Lender
<br /> shall app1Y , no later than i�rimediately ��rior to the ,alc u( tlir Yro� u�rt }� ur i1 � a�•qui� �tion 6}� Li� n� ier. :u �y Fundh
<br /> held by Lender at the time of applicat�ion as a credit ug�sinrt the cuui� ..ecuro� i h�• tiii� A1ortKah�•-
<br /> 3. Ayplieotion of Paym�nta. Unlesn a� �� ilieal �le la�� ju•oviile� otlierwi�c , ull peyme��t, received by Lender
<br /> under the Note nnd l.aragraplis 1 �ud 2 } �ereof sliull im a� �pliei3 Ly Let�di�r fir�t iu puyuu�nt oi aniuunts payab(e to
<br /> Lender by f3orrower under paragrapl� 2 I�ereot , thiu tu inte:revt � niyablc on thc: tiotc and un F'uture Advunces , if
<br /> any, and then to the principal of the Note xnd to tlie principul ut r'ubure Ad �anco� , i1' any .
<br /> �. Chargu: Li�os. Borrower sl�all psy all taxes , assessments and ottier charqFs , fines and impositions attrib- I
<br /> utable to the Property whioh may attain u priority over thi, '�lortgage , snd qrow�� i rents , if sny, at Lendere
<br /> opLion in the manper provided under ��aragraph 2 hereof or 1,}� Borrower making puyment , when due , directly to
<br /> the payee thereof. Borrower s6all prorc�ptly furnisli to T,ender all notice, of amounts duc under this paragraph ,
<br /> snd in the event Borrower shall make payment dire�•tl,y , Borro�at�r al�all ��ranptly lurnish to I.ender receipts evi-
<br /> dencing sucl� payments. $orrower sLall I ,rom��tly discliarge uuy lien which l�as priority over this \iortgage ; pro-
<br /> vided , that. Borrower shalt not be reyuire�l to dischar�e an�� ,urh lien so long ar: liorrow�er shaii agree in writing to
<br /> the payn�eat of the obligation secured Ly sucli lien iu a munner :�eceptable to Lender, or shall in good faith contest
<br /> sueh lien by, or defend enforcement of sucl� lieu in , legal � �roceedinK, �� I� ich o� x�rute• fo t �re�•ent the enforcement of
<br /> the lien or forfeiture of the Yroperty m� any �>art thereof.
<br /> S. Hasard fasuraae�. Borrower �hsll kee� � tlie im� �!•ove�uents na�c e•xi�linR ur i�ereafter erected on ttie Prop-
<br /> erty insured against loss by fire , haaxrds included within the term "exteuded coverage " , and sudi other hazards as
<br /> Lender �siay require and in such ainounts und for sucli � >erio.l. ;i� l .ender � uu�� rcyuire ; {�ruvided , that Lender shsll
<br /> not require that tl�e amount of such coverage� exceed tliat a�nuunt of �•u��er.�gc reyuired tu pay the sums secured 'by
<br /> � this Mortgage.
<br /> � The insurauce carrier providing tlie iusurance shall be �•iiosrn b}• Borrower subject to approval by Lender ;
<br /> O provided , 4hat such spprovsl sl�all no� be wu•exsonabl�� withlield . All premiums on insurance policies shall be paid
<br /> � at Lender's option in the manner provide� l uuder � i�tragrapl � 2 hereof or by I3orru�arr inxkin�; � �a,yment , when due,
<br /> � directty to the insurance carrier.
<br /> � In the event any policy is not renewed on or before ten days of its expiration, the Lendeq to protect
<br /> its interest, may procure insurance on the impruvements, pay the premiums and euch sum ehall become
<br /> ^ immediately due and payabie with interest at the rate set forth in said note until paid end �hall be
<br /> � secured by this Moztgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br /> under the terms of this Mortgage.
<br /> All insurance ��oliciee and renewal� thereuf �hall hc iu ioru � aci�c� uablc to L.•wicr and .�Lssll include a standard
<br /> �nortgage clau�e in favor �f and in forni acce� �taLle tu Lende•r. Lcnder �hall hs�•c� the ri�lit to hold the policies xnd
<br /> renewals thereof, and Borrower sLall promptly furni;h to I,eudcr all renewssl uotice, and all receipts of paid pre-
<br /> rniums. In the event of loss, Borrower sl�all gi�•e � �romp� iiotice to t6i• inearaiu•e currier and J.ender, and Lender
<br /> may make proof ot losn if not �nade protnptly I�}• 3iorroµ er
<br /> Unleas Lender and Borrower otherwise agree in H�ritiug , in.w•auce � ,ruceeds ,hall be applied tu restoration ar
<br /> repair ot the Property damaged , pro��ided suoh re�tc�rution or n� ,air i: ccununi �c:ill�� frusible an� the security of
<br /> this Mortgage is not thereby impaired . If ruch rc�.,tor:+tion or re� �vir i< nor �•�•onu�nirall�• feusible or if the security
<br /> of tl�ie Alortgage would be in�paired , t�lir iueurauc� � �roceede �h:�ll hi� yp� �liud to the suu�s secw•ed by this Mortgage,
<br /> with the excess, if any , paid to Borrower. 1 ( t6e Yropert�� is aban� lune� f hy Iiorro�v�•r or if l�orrower fails to respond
<br /> to Lender within 80 days after notice by I.ender tu Borrower that thc inhurance carrier offers to settle a claim for
<br /> insurnnce benefits, I .ender is authoriied w collect and appl �� th�• insurance proceecis ut l .ender's option either to
<br /> reetoration or repair of the Yro}>erty or to the surn� secured b} tl � is \ lortgage .
<br /> Unlers Lender and 13orrower otherwisr agree in �rriting, any sucli spplication oi proceeds tu principal shall
<br /> not extend or postpone the due date of the montlily installment � referred to iu ��aragraphs 1 and 2 hereof or change
<br /> the amount of euch installments.
<br /> If under }�aragraph 16 liereof the Yroperty is acquired by Lender. :� Il riglit , titl�� and interest of Borrower in
<br /> and to any in,uranoe policies und in nmi to thc pruceed, th�• rro( i to th�• extc•nt of tlie .umr �ec�ur��i by this Diort -
<br /> �age immediately prior to nuch sale or aeyui.itio�u re,:ultin� iruiu dam;t�i• tu tlir Yrupert)' � irior tu the sale or
<br /> acquioition shall pnEcs to I.ender.
<br /> B. Pru�rvatioa mtd Mmnt�nmse� ot Prop�rty; Lae�holds; Condomiaiutns. 13orrower shall keep the Yrop-
<br /> � erty in good repair and shall not �iennit� or commit w�aste . impairiuent , or �lrtrrioratiuu uf thr Property and shall
<br /> eomply with the pro��isions of any lease , if thi� \ lurtgage i� uu a lcase6u1� 1 . lf tt � i� Jtortgage is on a condominium
<br /> unit, Borrower shall f�erform all of Borrower ', obligatiou. under the decls�utiuii o! condocninium ur master deed ,
<br /> the by-Iaws and regulatione of the coiidominiu�ii ��roject au� 1 ��oustitueut docutnent�.
<br /> 7. Probefion oE Iwadsr's S�eurity. If Aorrower fuilr tu E �erfor�u th�� rovri �ants und agreeciients contained in
<br /> this \Zortgage , or it an�• action or procecdin� is comnieuce� l whi��l� materiull}• affeet, l .ender'h interest in the Prop-
<br /> erty, including, but not litnited to, eminent douia�u . iusol � � •u�•�• , �•u.l�• �•nfurv•euieut � ir arreugeinents or proceed-
<br /> in�s involving a bankrupt or decedent , then Lender at l .euder '> of�tion , u}��ou notice tu 23orrower, may tnake sueh
<br /> dppest'snces, disburye �+ucL nuuis and takr .ucli actiun ua i< uc•�•e=sar,y to prutcct Lender 's interest, including, but
<br /> not limited to, diaburse�nent of reasonable attorncy '� fee� and entry upon thP }'roperty tu rnake repairs. Any
<br /> ueuounts diebursed by Lender pursuant to this E�arngi•aph 7 . �ciih interest thereoe� , shall become additional indebt-
<br /> edneee ot Borrower e�ecured by this \lortgage. Unless Aorrower and I ,ender agree to other t.enns of payment , such
<br /> amounte shall be psyable upon notice frun� Lender to BorroH•ei• reyuestitig pay�neut thereof, and �Ita�l bear inter-
<br /> est from fhe date of 3isbursement nt t6e rutr atate� i �� t6e '_�ote wilese ��ayuieut uf iutetest� �t such rate would be
<br /> contrasy to applicable law , in which event �uch a�nounts �iiall bear intereet at the highest. rate permieeible by
<br /> a�plicsble law. tiothing contaiuc�i in tliic � ,aragraph 7 sh:il l r�quir�• L�•ndrr to iucur an}� expense or do any act
<br /> hereuader.
<br /> & L�cliao. Lender �uay makc or esu�e to IK• ma�i�� rr•a.ouabl�• �•ntrirr u�ion xn�1 iuspeMiom: of the Prop-
<br /> ei'Ly , Yivviiinil tLxt i.ruUrr �iinli �� vr liurruw�rr iiuu�•i• � � nw� � u :ui)� ..ur� i in>� x'�•t.�uu -{ ie<•�IymK rea.unable cause
<br /> ther�efor related to Lender's interest iu the Yru{irrt� .
<br /> !. C.asd�a�ealiaa. The prooeede of ssnv awatr{ or �� laim for damages , direr•r or consequential , in connection
<br /> with uny wndeuiu»tiw� or other takiug ui tl�r Yroperty , ur � �art c I ��•rroL ur lor �•uu ��epam•�• in liru of c•ondemna-
<br /> tion, are hereby useigued and aLall I�e Naid tu l,euder. ,�
<br /> In the eve�q oi s toEal tsking of the Yro{�erty . thc � �roceed� .hall I ,e appli���1 to th�� �wn� ne��ured b}• t.hir �1ort- �,,.'.- „y�"
<br /> ga�e, with the exeess. if any , paid to Bcrrr+ower. In the eveut of a partial takinA of t.he Yro� �erty , unless Borrower }r �
<br /> � aad Lender otherwise agrec in wnting, ttmre Ehall be aE�plied to tLe sums secured by this '1lortgagc� such propor- � '
<br /> tiaa of fase pmoeeds ac ie equsl to that proEwrtion which ti�r amount oi the yumc .ecureci by this '�lortgage imme- I '��,�
<br /> dutely prior to the da�te of t�kip� beare ta tl�e frir uiarket value oi tl�e Propert}• iincnediateh� ��rior to the date of ^�M�*
<br /> ta1�, wiLh t3+e bslanoe af the proi+et.�ds paid w F�rrower.
<br /> lf the 1''re}te�tv ts qbancloned by ltornower or �t xfter noticr h�� l ,ender to Bc�rrow�er that the condecnnor offers
<br /> te ee�rice au araid or recele � elaim tor clamages, borrower ta�ls to ��esNonU to l ,ender wrti��n 30 dayn of the date �,;
<br /> o[ a�ta� netiae, I.ender ic auGhoristd to coliect ami rpph� tlie proiwedr at lender'n option �•ithex tu rertoretion or
<br /> nap�ir of the Property or to the euws secu�d by tt�is \fottgagr .
<br /> Unicss Lcnder and Borron•cr ot:1C1'l1'SSC iL�*ZCl' 3I. '.vl3Elllg , al.y aUc�� »�ilcul..u1. .�� Niuwrue W � �rivavEiai eiinii
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