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<br /> If under paragraph IS hereoi rhe Yropertp i. ,old ur tlie l'ro��erty i, other�� i.<� ueyuircd Iry I .ender, I.ender
<br /> ,hall aPN1Y . no later thun immrdiat.ely prior to tlu• ,alc oi il �o Yro� �.•rty ur it > :si•� � ui.itiu�i hy L�•udcr . am� Fund�
<br /> I�eld by I.endr,r st the tin'ie oP upJ ,lication a� :s crc� lit agsin.t tlu� ruiu, ;r�� um�i I �c t } � i� A] urcgugc .
<br /> 3. Application of Paya��nts. Unlee:s a� �plicablc la�c pro��idc�s otLerwi:r, all � �aywcuts recri��ed l�y Lender
<br /> under the Note and paragraphs 1 sn� 2 Lereof sL:sll hc a �i� �lie�i li}� Lrnd��r (ir.t iu paynient ul' anwunt , � �ayxble w
<br /> Lender by Borrower under paragrapl� 2 liereof, then to intere.t � rsyublc on the '.�ote :ind on �uture Advunces , if
<br /> any , and then to the �arincipal of the Note and ro thi• ��rinai��al uf Fut �re Ad � an�•c• , if any .
<br /> �' 4. Cba:g�s: Li�ac. Borrower sl�all pa,y all taxes , assessineute� and other cliai•�es, fines and i�npositions attrib-
<br /> � Cl2 utable to the Property which may attain a priority over this �fortgage, and �;round rents , if any , at Lender's
<br /> +"" option in the msnuer Provided under paragraph 'l hcreof or I,y� Rorrower �naking payrnent , when due, directly to
<br /> I` the payee thereof. Borrower shall promptly furnish to Lender ul ! notices of amounts duc under tl�is paragraph ,
<br /> C'J and in the event Borrower sha►I makc pa,ymeut directly , 13orroK•cr sh�xll proinptly iurnisl� to I.cuder receipts evi-
<br /> O dencing aucl� payments. Borrower sl�sll �uom�uly dischurge any lien whic}� has � n•iority over this \iortgage ; pro-
<br /> vided, that IIormwer shall not be reyuired to discl �arke any sucl� lien �o long as Borrower shall agree in writing to
<br /> � the payment of the obligation secured by sucli lien in :t maiinei• ;�cceptable t.o Lender , or nhatl in good faitl� contest
<br /> ^ such lien by , or defend eniorceraent ot �ueli lieu in , le�al �iroceedin�� which operat�� to pre�•ent, the entorcement of
<br /> the lien or forfeiture of the Yroperty m• any � �art thereof .
<br /> 5. Hasard Iasurane�. Borrower siiail keeji the iu�E�rore�neuts uo��� c�xisting or hexestter erected on tlie Prop-
<br /> erty insured sgainst lose by fire, hazards included within the term "extended coverage" , and such otLer haznrds as
<br /> I.ender may require and in such an�ouuts und for such period� :i. Lender � na�� require ; pro ��ided , that I,endet s1�a11
<br /> not require that the amount oP such coverage exceed tliat amouut of �•oversge required to � ,ay the sums secured 'by
<br /> this Mortgage.
<br /> The insurance carrier � �rovidinK tl�e iusurance ,hall be cl�osen h}• 13arrower �uhject to approval by Lender ;
<br /> provided , thst sucli approval shall not be �u�reasonabh� w-ithheld. :� Il premiums on insurance �rolicic� � 4nit be paid
<br /> at Lender's option in the manuer pro��ided un .ler � ,arugrapli '? liereof or liy� Borrower tuuking pa��ment, when due,
<br /> directly to the insurance carrier.
<br /> In the event any policy is not renewed on or before ten day�s of its expiration, the Lender, to protect
<br /> its interest, may procure insurance on the improvements, pay the premiums and such sum shall become
<br /> immediately due and payable with interest at the rate set 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 terma of this Mortgage.
<br /> All insurance policies und renewul� ti�ercoi �hall hr in fonu ne��i•�it3bli� tu Lon< !er and st�all in�� lude a standard
<br /> moitgage clause in favor of and in Sor�n acce�itabl�� to Lender. Len< 1er rhall l�uvc tl�e ri�;ht to Lold the policies and
<br /> renewals thereof, und Borrower shull pro�nptly furnisli tu Lcuder al! reuewal notices und ali receipts o( paid pre-
<br /> miums. In the event of loss, 13orrower sliall give �uaupt noticc ru tl � e in.urancc currier and Lender, end Lender
<br /> msy make proof of lobs if not inade promptly I,y 13orrower.
<br /> Unlese Lender and Borrower oUierwise ugree in �vritiug, in�w�:iucc procee�l� shall be applied to restoration or
<br /> re�air of tt�e Yropert��� damaged , provided ,ucli re�cor:uion or ri•pair i, rconoiuicull}- Scasible aud the seeurity oi
<br /> this Mortgage is not thereby impaired . If sucl � restorutio� i ur repsir i � not e�•onomir.sll}• fe.isiblc or if the security
<br /> of this :1lortgage would be impaired , tl�� iusurxucc � � rocee.l, �hall I ��� ap� �lieu to th�� ,uius secured by this 9lortgage,
<br /> with the excess, it any , psid to Borrower. if thc Yropert �- Ss ahandunerl h�� Borrower ar iS I3orrower fails to respond
<br /> W Lender within 30 days after notice b}• ].ender to Borrou�er thut chr insurance carriei• ofTers to settle a claim for
<br /> ineurance benefits, 7.ender is authorized to colleot anci apply the insurance proceeds ut t,ender's option either to
<br /> reetoration or repair of ttie Prof�erty or to ttie swus secured by iliis \ lortga�;e.
<br /> Unless Lender and Fiorrower otherwise agree in �vritiuq, a�ry� suc•h u�>plice�tiou ol proceeds to principal shall
<br /> not extend orpostpone the due date of the monthly iustallme�nt� referre�! to in �iaragraphs 1 and 2 hereot or chsnge
<br /> the �mount of such inetallments.
<br /> If under paragraph 18 hereof tl�e Yroperty i. acquired b�� I,ender, xll right , title und interest of Borrower in
<br /> snd to any insursnee ��olicies �ind in an�i to thc F,iroceeds tl�eriof Ito th�• extrnt ot th.� sum� secured bv this Mort.-
<br /> gage immediately prior to such �ale or acqui�ition i resultin� irom � 1amx{;�� tu the Yropert.}� }�rior to the sale or
<br /> xequieition shall paes to Lender.
<br /> 6. A�u�rvation �d Mmat�nmsca o! Propsrty: Lsaseholde; Coadomiaiums. 13orrower �hu1 ! keep the Prop-
<br /> erty in guod repair and shall not ��errnit or comtnit waste , impairiuent , or � irterioracion of the Yrpperty and shall
<br /> comply with the provisions of any leasr , if thi� �lortgage i� un s leasehol�l . Ii this \iortgage is on ti condominium
<br /> unit, Borrower shall perform oll of Borrower 's obligation . under c1�e declarucion o! cundominium or msater deed ,
<br /> the by-laws and regulstions of the condotniniuni project und ��onstituent documents.
<br /> 7. Protectioa ot Lusdei s S�curity. lf Borrower fails to �iertorm the eovenanta snd agreements contained in
<br /> thie \lortgsge, or if any action or proceeding is coinnienced whioh �i�aterially affects Lender's interest in the Prop-
<br /> erty, including, l,�ut not liir�ited to , eminenc doiuuiu , insoh�oucy , cud�� ��nforce�ricnt , oi• arran�en�ients or proceed-
<br /> inge involving a bankrupt or deeedent, then Lender at I .eu�icr'� o{,cion , upou notice tu ISurrower, �uay make such
<br /> appearances , disburse such sums and take .ucL nrtion as i � ut�������ar�• to ��rotect Lender's interest , including, but
<br /> not limited to, diebursement ot reasonable attorney '� iee, :�nd entry upon th� Yropert}� to make repairs. Any
<br /> atnounte disburseci by Lender pursuant to this puragrupli ? . ��•itli interest thereon , shall become additional indebt-
<br /> edness of Borrower uecured by this \3ortgage. Unless Borrower uud ] ,ender agree to ottier terws of payment , such
<br /> amounts shall be payable upon notice from Lender to Borroaer requesting payment thereof, and shatl l�ear inter-
<br /> eet from the date of disbursement at tlie rate .;tated in the lote unles� pi�yment of interest at such rate would be
<br /> contrery to spplicable law , in which event such amounts .hall bear inierert at che highest rate penniseible by
<br /> applicable law . Vothing concuined in this � �arugraph ; sliall re��uire Leudec� to ] ucui• un}• ¢xpenee or do any act
<br /> hereunder.
<br /> i. Infp�clion. l.rnder inay u �ake w� �•au�e to I �c mx�i.• rra�uuablc �•urrie. uF�on xnd in�pect �ons o ( the YroP-
<br /> erty ; provided that i.rnder �hatll gi�•� B���rrou•er ni,t ; ��o � � ri��! r � � : i � � �� �u � L ir. -� �octiu: : >� ,��cifrin �; rca,onablc� :ausc
<br /> therefor related to Lender'e intereat in the Yropercy .
<br /> 8. Cond�meation. The proceeds of any awerd or i� laim for ciamages, direct or consequential , in connection
<br /> with any rondemnntion or other takinR of the Yro�x�rh� , or � �urt th ��rc�of , ur for run �� i�yanc•e in li��u ui i�undcmna -
<br /> tion, sre hereLy as�igned and shr�ll be paid to I,ender. '
<br /> In the event of a total taking of' the Yroperty , the � iroceed� .�hall lie sspplied tn the .ums sec• ured by this Mort - +�
<br /> gage , with theexcest , if any , paid to Borro�ti�er. In thc event of a ��x�rtial taking o� the Yroperty , unless Borrower k� ,. ,;+
<br /> and I.ender othenvise agree in writing, there sLall be ap�ilied to the ,wns .ecured by this \lortgage wch propor- 1'
<br /> � tion of tise procceds ae is equal to that pmportion wtiich the smounc of t.he suins secured by this :�fortgage imme- �
<br /> disteiy ptior to the date of taking beare to the fair �narket ��alue �iP t6e Yrupert �- i�nm��listely prior to the date of , �fi
<br /> tslon�, nitds tlfe bslsnee of the proceed� paid t:o Borrower.
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<br /> If tlfe Y'ropetty is sbandoned by- Bonot� er or if aftcr notice L} Lcnu�r tu Bmruw rr tLd� �iie conuenuiur offen�
<br /> w make on wweevi or eettle ti ciaim for damages , Borroner :ails tu :�sy�uud io Lwi.i�, r �. itLiu :i0 �inyn ui tiie d»t1
<br /> ut a�ch notfoe, Lender ia authoriaed to collect and ap�ily the proceed� at Lcr�der'. uption �•ither to restoration or +�
<br /> rapr'tr of the PeoQeri,y or to the ewne eecured by thi� \lortgage.
<br /> Ualers L.ender and Borrower othenvise a�[ree in writinR. any auch a�linRti�n .. f nr��PP�i� t �, �,rSn �� i,s � .�}, n � �
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