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<br /> If under ��aragraph 18 hereoi the Yroperiy i, ,uld or the Property i � citf � en� i.e :soyuire�l In� Lender. I.ender
<br /> shall apP1Y, no lat.er tl�xn immediately prior tu tl �c ,alc ul' tli�• Yru� �.� rt � ur ic � a�•yui� niuu Ly Lru�icr . :, ny b'undn
<br /> held by Lender ut the time of apj �lication as a rredit a�;uin.�t th�� .iin �� �crur��� ; 1 ,� tl �i- \ tart �;agc• .
<br /> 3. Applieatiott o/ Faymsata. Unles� 8�)�IIICRP)IC I8N' J1PUV11{C.. other�vi��� , xll p;xy�iia�ute recei��ed by Lendei•
<br /> under the Note and paragrapLs I and 2 hereof sliall bc a� �plied hy L��ndi� r fi �:�r in � �ayment of aniowit� E >ayable tu
<br /> Lender by Borrower under paragrupli 2 hereof, tl�eu to intcrcr.t � �ay:slil�� on the i1'ote :tnd on Futur�• Advances, if
<br /> any, sud then to the principal of the \Totc uud W tLe � irincipal uf Futur�� A � i �•an� c� , if sny .
<br /> � {. Charg�; Li�as. Borrower shall pay all taxes , nssessrnents and other charge; , fines and impositions attrib-
<br /> Q� utable to the Property which msy attain u priority over tl� i� \lortgage , au�l ground rent= , if any, at Lender'n
<br /> (� option in the inanner provided under �>aragraph '� l�ercot or I ,y 13orrouer � naking payiuent , ahen due, directly to
<br /> ry the payee thereof. Borrower sliall promptly furnisl� to I.ender all notice, of uniounts �lue �mder this paragraph ,
<br /> j� aad in the event Borrower sLall enake � �u}�iueut dirr.ctly , Borro�ccr �I �:ill prouy �tl �• furnisli ta Lender receipts evi -
<br /> � deneing such payments. Borrower shall pran�,tl,v dischurge any lien which I�as � �riority o�•er this \fortgage ; pro-
<br /> � vided, that Borrower shall not be require�i to dischur�;e an�� �uvl � lien �o long a� fiorro�� er yli�yll agree in writing to
<br /> the payment of the obligation secured Ly sucL lie�i in :s u�anner ucceptaible to Lender, ur �hall in goud faith conteat
<br /> aueh lien by, or de[end enforcement of �uch lieu in , legal � �ruc��eding. �chicli o��erute to prr.cr�nt the entorcement of
<br /> � the lien or forteiture of the Yroperty m• uny � �art tl �creof.
<br /> ^ 5. Hazard Insuraaee. Borrower sl�nll keep tl� � inquu��en�euts nu�r existinR or liere�fter erected on the Nrop-
<br /> erty insured agailist loss by fire , hazards included within t.6e tec•n� ' �extended coveragc " , snd �ucl� otl�er liszards se
<br /> Lender tnay require and in such amoun� , snd im• r;uc! � ��eriud� :u L��nder ma� requiru : pro� ided . that I.ender ehall
<br /> not require tl�at the amount of ,uch co��ersge i,x�•eed thnt ainuunt ol <•uvera�;c� rr��iiired to pay the sums secured ' by
<br /> t6is Mortgage.
<br /> The insurance cr�rrier � �roviding the in,w�:sn�•c �hall b�• rl �wt•n I ��� iioi•ru�� er aubject to appro��ssl by Lender ;
<br /> provided , that such approval shall not be unresisonabh� witliheld . All preiniums �n ir�surance ��olicie� sl�ali Le paid
<br /> at Lender's option in the inunner pro��ided under I �:iruKrapli 'I herc:of or h�� iiorrower making payment , wlien due ,
<br /> directly to ihe insurance carrier.
<br /> In the event any policy is not renewed on or before ten dayR of its expiration, the Lender, to protect
<br /> its interest, may procure insurance on the improvements, pay the premiums and such sum xhall become
<br /> immediately d�e and payable with interest at the rate set forth in said note until paid and shall be
<br /> secured by thia Dlortgage. Failure by Bonower to comply may, at option of Lender, conatitute a default
<br /> under the terma of thia Mortgage.
<br /> All insuranee polieies and renewal. tliereof xluill i�e in iorin a�•ee� �cul�lr tu ln•n� l �•r :in� l shall inc•lude :s stsn�lard
<br /> mortgage claase in favur of and in form acecptuble tu Li�uiler Lrnd��r �hull hu��c tli� • riktit to liold thc �iulicies xnd
<br /> renewals thereof, and Borrower shull pro�nptly furnish to Len� l�•r all reneH•st notice, and all receiNts of paid pre-
<br /> miums. In the event of loes, Borrower shall gi� e prompt notice tu the insuranci� cnrrier snd Lender, and ],ender
<br /> may inake proof of loss if not �nade pranptly by Borrower.
<br /> Unlese Lender and Borrower otherwise agree in w� ritiu�; , in= urancer � �ruree�l � shall be upplied tu restoretion or
<br /> repair of the Property dacnnged , pro��ided such re�tor.ttion or reEiair is ecunuiui�•:ill�� f��asible aud the security of
<br /> this �4ortgage is not thereby impaired . If .uch reator:ttioti or re� �eiir i.� uut e�•unuroivnll�• fexsible or if the security
<br /> af this �Iortgage would be i�upaired , ttie insw•auce � >rocer.ls al ,ull I ��� sE ��,lie�l w the su�ue aecured Ly t6is Mortgage ,
<br /> with the ezcess, if any , paid to Borrowei . If tLc Yi•oj�er�v ia ul ,uu�luue� i h�• 13orru�� er ur ii f3orrower fails to respond
<br /> to Lender wichin 30 duys sfter notice by Lender tu Burruwer tl�;it che iusursuce carrier uffers to settle a claim for
<br /> inaurance benefits, I.ender ia authorized to cullect snd apply the insuriince E�roi•eeds ut l.ender's option either to
<br /> reetoration or repair of the Property or to ehe swns secured 1 ,�� tlii, �3ortgage.
<br /> Unlesa Lendez and Borrower otherwise agree in writing, any Fuch application uf proceeds to principal ahall
<br /> not extend or postQone the due date of the iuontl�ly installiuents referred to in puragrapl�b 1 and '2 t�ereof or chrnge
<br /> the amount of such installments.
<br /> If under paragraph 18 hereof the Yroperty ie acyuired by I.eudei• , all right , titic and iutereat ot Borrower in
<br /> and to any insurance policies and in un�i to the proceeds � hereof � tu thc �•xterrt uf clie euin� �ecured by tl�is Murt -
<br /> gage immediately prior to such salc ur ueyui�ition i re.ultiug irou� duivaK�• tu tl �e Yro� xrty prior to the sale or
<br /> acquieition shall pass to Lender.
<br /> & Ps�wrvation msd Mmat�nanu oi Prop�rty: I.�as�holds; Coadominiuma. Borroaer til�all keep the Prop-
<br /> erty in good repair and shall not 7 �ern�it or commit waistc . ini} �sirnient , or � ietc•rioratiou u( t6e Yroperty ssnd shsll
<br /> comply with tiie pro��isions of uny lease, if thi� \ lortga�i• i� uu a Ir;uei�ol�i . Ii thi� \1ortgage is on :s condominium
<br /> unit, Borrower shall perform ull ot Borrower '. obligatiuns un�icr i iie �leclaraiiou ui condominiwn or master deed ,
<br /> the by-laws and regulations of tkie condominiuw { u•ojrct au� l runstituent ducumentc.
<br /> 7. Pzoteetioa oE I.�adei s 3�curity. If Borrower fuil� to � ��riorrn tl�c ��•ovrnants an�i aKreetnents contained in
<br /> this \lortgage, or i[ any action or proceeding i, con�nienced whi��h u�at erially sffect. Lender s interest in the Prop-
<br /> erty, ineluding, but not limited to, eininent dowuiu , in�ul � ��ucy , c�xir euiorcemrnt , or arrangements or proceed-
<br /> inge involving a bankrupt or decedent, tl�en Lender Wt Lendcr '� oEnion , u�>on notice to Aarrower, nisy make such
<br /> appearances , disburoe sucli nums xnd take �ucL actiou ;tie i� nc�i•e.=sar�- lu � �rotecl Lemler '. interest , including, but
<br /> not limited to, disbursement of reasunable attorney 's fee� and entry- upon the I'roperty to make repaire. Any
<br /> amounts dieUursed by Lender }�ursuant to tliie paragraph 7 , «• ith interest themon , al�all hecome additional indebt-
<br /> edness of Borrower secured by this �fortgsge. Llnless Borrower and I.ender agrec to other tertns of payment , such
<br /> amounte shall be psyable upon notice frorn I,ender to Borroaer requesting payment thernof, and shall bear inter-
<br /> est from the date ot disbursement at the rate stat:eci in the \ote unless payment of interest at such rate would be
<br /> contrary to applicable law, in which event such 8II]OUIItS shall bear interest at ehe highest rate permissible by
<br /> app►ieable law. '.�tothing containcvl in tliis � iarugra��6 7 � hail requirc Lender to incur any expense or do any act
<br /> hereunder.
<br /> & �etien. l,e�der may make or �suse to !�c u�a�{c reationahl �• cntrie. �pon and inspections of the Prop-
<br /> rrtY � Nruvided tLat LenJer shall give Burruwer nutio.• � � nur iu :u �y - u�• i � iu�� K•cu��u ry �reii� iuK rrtlwluai�ir cau�;r
<br /> therefor related to Lender's interest in the Propert��.
<br /> i. Coed�mnatioa. The proceecis of uny award or claim ior da�nages, direct or consequential , in connection
<br /> wit}1 any condenuiatiun or other takiug of the Yru�,crty' , w � �art tln•rrul . ur for cuneryuuce iu lieu of i•undetuiix-
<br /> tion, are hereby assigned and shall Le paid to Lender.
<br /> In the event of a total taking of the YropeNy , thc• � �ro��eed� �hull h�� :s ��plied to the �u:n. se<•ured hy this '11ort- , �+
<br /> goge, with the exceas, if any , paid to Borrower. In the eveut of a },artial taki��g oi tlie• Yruperty , uulee�n Borrower �`" �
<br /> sod I.ender othenviee agree in writing, there shatt tw applied to fhe ewns tiecured by thie \lortgag� such propor- �
<br /> � tion of the proceeds as ie equsl to that proportion which the amount of the �um� .ecured by this '.1Sortgage imme- 6
<br /> distely prior to the date of taking bears to the Pair warket ��aluc of tlir Yropert �• immediateh� prior to tLr date of
<br /> talring, wiLh the balance of the proceeda pxid to 13orrow�er.
<br /> lf tL�e Yroperty ia abandoned bv fiorrower or � f after not �cr b�• i ,rnder to liorrnwPr that the �•ondr�nnor ofiera
<br /> w ax�lce aa a�vard or nettle n elsun ior uauieges, borrow•er ta�ls to reepon� co Lender w �et��n :iu uaya ot che eiate
<br /> of such notiee, I,ender ie authoriacd to eollect and apy>1y the �ircec�i� xt l .ender', optiui � �•itLer to re�toration or ""
<br /> reprir of the Property or to the suzns eecured by this \Iortgbge .
<br /> L�nlcas I.endcr and Borron�cr uthcr�cisc ngrcc ii: •,criting, any� such applic�tiot: of procccd� to ;,rin, i�.ul .l:u::
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