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<br /> tf under paragraph 18 hereot tfi� Yro� �crty i. sold or t6e Property i. otherµ�i..�• arqiiirr� l b}� Lender. Lender
<br /> :hull aPP�Y , ��o later tl�an iro�e:ediabely prior to thc ,alo of tlu� }'ro� ���rt �• ur it , a�•� � ui�itiou tn• L�•nder . any Fund�
<br /> held by I.ender at tlie tirne� of application u. u oredit a�,siu�t � lir nuui. .�•cun�� i b�� tlii. �l�rrt �;xho .
<br /> 3. Applieation o) Paym�nts, Unless a�i� >lical , lo I:u� � u•u�-ide. otherwi�c , ull � �ay�nu�nt. rerei��ed by I,ender
<br /> underthe Note and ��nragr�pLe ] and 2 6ervof .haili I �c e��� �lie� 1 b�• Lend�•r fir.t iu � �ayrnent ui umoi���ta payable to
<br /> Lender by Borrower under paragrapl � 2 I�ereof , thcu to int��rest � ri��ablc oii tlic Aote uu�l on Futur�� A�Ivano�s, iC
<br /> � any , aud then to the principal of the \'otc and to tl �e � rrinc�i � ��l uf r'uwre A� l ��ance� , if anY.
<br /> �. Charq�a; Li�ns. Borrower shxll pay all taxes , assessmente .tn<i other rharge�s , hnes and impositions attrib-
<br /> utqble to the Yroperty which may uttsiti u prioritv o��er tliis �fortgage , and grouud rents , if any , at Lender'n
<br /> option in the manner provideci under paragraph 2 hereof or by Rurrower making puyment , when due , directly to
<br /> the payee thereof. Borrower shall prompfl�• furnieli tu Lender all notices ot a� uo�uit � due under t6is paragraph ,
<br /> and in the event Borrower nhall make � >uv� rent directly , liorro�ser shall promptiv 1'uruish tu I.ender receipts evi-
<br /> dencing suc6 payments. Borrower shall promptly disel�arge an�� lien wl�ich ha. � n•iority over thi� \tortguge ; pro-
<br /> vided, that Borrower ehall not be reyuire�i co disclixr�e an�• .uel � lieu so long u� liorro«• ��r �hall ugree in writing to
<br /> the payment of the obligatia� secured by sucl� lien iu :� manner acceptable to Lender. or c1 �311 in good feith contest
<br /> � such lien by , ordefend enforceinent oi �ucli lieu in , legal � � roceedin�� �� liirh operatc• to Fire� rnt the eniorcement of
<br /> � the lien or forfeiture of the Yroperty or any � �art t6ereof.
<br /> S. Hazatd Insur�e�. Borrower = ha11 kee� � tl � c� [ m� �ro�•oments no�+ ezi�tiug or licreaf[cr erected on the Prop-
<br /> � erty insw•ed against loss by fire, hazard� included witl �in the tertn "extended coverage" . ;ind sucl� utl�er hazards as
<br /> � Lender may require and in such amount , au� 1 iur sucl � periud., a� L��i��er iuu�• ri•quire : Fn�o � idc�l , that I.ender shsll
<br /> � not require that the amount of such co�•erage exceed tliat i��uow �r u( ruveruge re��uired to jiap the :u�ns secured ' by
<br /> "�" thia Mortgage.
<br /> ^ The insurance carrier � �roviding tl � e iu�urau�•e �6all k�e �•hosen h�� liorro�ac�r ,ul �ject to approval by I.ender ;
<br /> ^ provided , that sucl � approval shall not be uureasunably ���ithheld . :V1 premiums on insurance lioliciee ,liali be psid
<br /> at Lender's option in tYie inssnner � a•uvi�jed w�der � �ur.agraE�li L' l �ereot a• h}' ]3orru�srr muking payn�ent , when due,
<br /> directly to the insurance carrier. •
<br /> In the event any policy is not renewed on or before ten days of ite expiration, the Lender, to protect
<br /> its intere�t , may procure insurance on the improvements, pay the premiums and �uch sum shall become
<br /> immediately due and payable with interest at the rate set forth in said note until paid and shall be
<br /> o-;ecured 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 insurance policies i�nd renewal� thereot �lixll I ��� in iorn � :ic����� ual �l�� tu L��nd��r and �liall includ�• s standard
<br /> �nortgage clause in favor of and in forni a�cc� �table to I ,ender. Lendrr �hall htt��e t ho right tu hold the policies a��d
<br /> renewals thereof, and Borrower shall procnptly iurnish to l.en�ler all renew� l uotic�>> und all receipte ot paid pre-
<br /> miums. in the event of loss , Borro���er �6a11 gi ��c � �ru�upt iwtic�> to � he iiisurance currier aud Lender, and I.ender
<br /> may make proof of loss if not made protnptl�� I��� }3urrower.
<br /> Unless Lender and Borrower utherwise agree in writing , iu,ur.�uc�• � �ruceed, .I�all Fie applied to restoration or
<br /> repsir of the Yroperty damaged . pro� idi�d .urh ri�.rorutiun ur r��puir i< o�•ununii��ulh• f.•u�ibl�� uud the �ecurity of
<br /> thie Mortgage is nut thereLy iuiE�aired . I ( �ui�li r��st��i:�tiun ur re��sir i. uot e�•uu�iuieally ieusible or it the security
<br /> of this Jfortgage would be impaired , the insw•auce � , rocee�f � sliall I �c ;ipplie�l to th�� sunis secured by thie Mortgage,
<br /> with the excess, if any , paid to Borrower. 1f tiie Yro� >crt �� i. ahundoned h}� Burrow��r or ii }3orrow�er fuils to reapand
<br /> to Lender within 30 days after notice b�� I .ender lo Borrower tliat the iusurance carner offers to �ettte a claim tor
<br /> ineurance bene6ts , I .ender is authorized to colleci 3nd apply th�• insurance proceeds at I.ender'E uption either to
<br /> restoration or repair of the Yroperty or to che swns secured b}• tliis \lortga�e.
<br /> Unlers Lender and BorroWer otherwise ugree in writiug , an� such spplication of proceeds to principal shall
<br /> not extend or postpone the due date of the �nonc6ly instulln�ents refrrred to in paragrapLs 1 ssnd `l hereof or change
<br /> the amount of auch inetallmentt.
<br /> If under paragraph 18 hereot the Yroperiy is acyuired by l .ender, all right , Citle and interest of Borrower in
<br /> and to at�y intiurance policies and in an�i to the proceeds tliercoi ito rh�• extent of tLe cwn� secured by thie Mort�-
<br /> gAge i[[nnediately }��ria� to euch salv or x�•quicition � re�ultin� frum da�na�c to tLc Yrnperty prior to Clie sale or
<br /> acquisition shall pass to Lender.
<br /> i. Fe�wr�ation mid ldmnt�aane� o! Prop�rty: Iwawholds; Condominiva�s. L3urrower shall keep the Prop-
<br /> erty in good repair snd shsll not t�ermit ur commit waste , impairme��t , ur deteriorutiou of the Yroperty and shall
<br /> comply with the provisions of any lease , if this \lortgage i� uu ;� leusehol� i . lf thi. 1Sortgage i. on a condominium
<br /> unit, Borrower shall perform all oi Borrower', obligaeion� under � he declaraeiou oi cundominium ur maxter deed ,
<br /> the by-laws and regulations of [ hr condominium � iroject und constitueut docwnents.
<br /> 7. Proteetion o[ Lader's S�eurity. If Borrower fails to perform the �•ovenants and ugreements contained in
<br /> this �lortgsge , or if any action or E�roceeding is commenced whicli materially uffecte I.ender's interest in the Prop-
<br /> erty , including, but not limited to , eininent dowani . iu.ul � ��n�•�� , ��u�ie i�ntoroeiu��nt . ui• arrangements or proceed-
<br /> inse involving a bxnkrupt or �iecrdeut , then I.ender u� Lru�lci'� uptiuu , u� �un notire tu 13urrower, niuy make such
<br /> appearances, disburse such sums and t.ake sucl � action as is ne.•easary to protect I,ender's interest , including, but
<br /> not limited W, dtsbursetnent of reasonsble atcorney '� 1'ees and entr�• upon th� Yroperty to n�ake repairs. Any
<br /> amounte disbursed by Lender pursuant to this � �ssragruph 7 , ��•itl � interesc thereon , shall becoiiie sdditional indebt-
<br /> ednese of Borrower secured by this \lortgage. Unless Borrower and l .ender agree to other terms of payment , euch
<br /> amounte shall be payable u��ou notice from Lender w Borruwur reyuesting }�ay�nent thereof , and shall bear inter-
<br /> e�t from the date of disburnement at the ratc stnted in the :1ote w�less payment of interest at. suct� rate would be
<br /> coaLrary to applicable law , i❑ which event such arnounts shall bear interest at the higheat. rate permiesible by
<br /> rpplie8ble Inw . 1otl�iuq c•outamed iu thit � iaragra� � h 7 .i �:� ll n-�� wre L�•ndrr lo incur sny� expense or do any act
<br /> hertuader.
<br /> Y. I�Yp�etiaa. lxniirr uixy' �iinke w� cnu�r w � n� iux� �o rraruuttule r� i[ rir. u� �un and ius{�ecttune oi the Yiop-
<br /> ertY, Pruvide�i l6at Ixnde�• �Lal ! give Burivwrr notu�c � �riur tu :urr ..u�• li � n.� iretiuu .� ,rcit}� iuK rrntiunaLle causr
<br /> therefor reisted to Lender'e interest in the Yroperty .
<br /> 8. C.o�eatroa. The proceeds of un,y uwar.l or �• lai�n ior damageb , �iirect or conseyuential , in connection
<br /> wiLW any cundeinuxtiuu or other takiug o1 tiie Yru� �rrt � , ur � �art th�•r�•uf , ur for �•uu � .rvac�ee iu lieu of �•uudemna-
<br /> tion, aze hereby asaigned and shall he paid to l ,ender .
<br /> In tlfe event of a total tnking of the Yroperty , thc procred� �I �sll Le xpplird to the .uma sc�•ured b�• this !�Sort- �^ ` �«
<br /> gf�e, with the e�ccess , if any , paid to Borro���er. In the event of a part�al tsking of the Yropertc , unless Borroe�er ��
<br /> � and Lender �henvice in u•ritin there sl�aU t�e a > >lie�i to the swiw secured by thie \Sort a e nuch ""r'•
<br /> a8� B. I1 B 8 ProPo�' we �,w
<br /> tion of t�he pntfoeede as is equal to that proportion which the aniount of the sume secured by this \lurtgage imme- �;`.
<br /> distely prior tt� the date ot taking bears to the fuir wrrket vnlur uf tl�e Yruperty immediatrly �n•ior t,o the date of
<br /> takm�, w�th t�e hslawee of the proi+eeda pa�d to 13orrower.
<br /> !f tlwe !'reperty u abandoned by ktorro�ver or �t aiter not�ce by Lender to liorrower that the condetnnor offerE
<br /> W msice aa award or eettle a elaim for damrges, Borrower taits ta res��nd to l .ender veithin 30 days oC the date `""
<br /> of rac6 notioe , I.ender is authoriaed to collect and apply the proerede xt I .ender '� uptiun eitl�er to rr.fnration or
<br /> rcpair of thc Propert�� or to tl�c ;u�no oc:c urcd L} tl.i. llwtgaK. .
<br /> Unleu Lender and Borro�ver oWierwiee ag:ee icx writing, any such application oi proceeds to prir�cipal shall
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