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<br /> If w�der paragrap}i 18 hereol ttic Property i, �old or tlie Yropert.�- iti otherw� i:�� aeyuirc•d b�• Lender, i.ender �
<br /> �hall aPA�Y� i�o later tliun inmiediately prior to tlu� salc oi tl ��� YroE �crt �• or it ,- u�•� auisitiun i �y L�•n� INr. :in�� Funds
<br /> I�eld by Lende:r a4 the time of ap�>lication ss :i creciit :ig:�iu�t tlie .u� n.> ..rcurc� l h�• thi� \tort�;ag�• .
<br /> 3. Ay�plieetion o! Paymeats. Unlees �p�ilica6lc I:i�� ��rovicic. ottier�vi.u , :all ��al'���ent� received {�y Lender
<br /> under the Note and t�aragrupLs 1 and 'L hereof ,i �sll ho .i� ,� dirJ I �y L�•nd��r tirst in � >ayment of uniounts F�ayable to
<br /> Lender by Borrower under paragr�ph 2 liereof , tLeu to intrrest � u�yxblc uu tlic Note aud on Future Advances, if
<br /> any , and then to the princiyril oC the 1Tutr and to the � �rin�•ipal of F'uture :� ii ��.ini•c� , if' iin,y.
<br /> 4. Charg�a: Liens. Borrower sLall pay all taxes , assessments and other charges , fines and impositions attrib-
<br /> � utable to the Pzoperty which may attain :i �,riority over tl � is �lortgage , and grouud rent � , if any , at Lender's
<br /> option in the msnner provided under paragrapli 'l hereof or I �y Borrower uiakin� puyment, when due, direcWy to
<br /> � the payee thereof. Borrower sha11 promptly� furnish to L@111IC1' SlII IlO�1Ce6 of an�ounts due imder tl� is parsgraph ,
<br /> u"'j and in the event Borrower sl�all makc payment directly , Borro�ver shall promptly turnisli to I.ender receipts evi-
<br /> �j dencing such payments. Borrower shall promptly discliurge any lien whieh 1»s � �riorit.y over this \Sortgage ; pro-
<br /> �.,, vided, that I3orrower shall not be required ta discharge anV such lieu so long u. Borrower sl�sll agree in writing Lo
<br /> C the payment of the obligation secureci by suct� lien iu ,i manner acceptsble to Lender, or shalt in gaod faith contest
<br /> �� such lien by, or defend enforcement ot such lieu in , legal � �roceeding. .��liicli operate to prevrnt the eniorcement of
<br /> � the lien or forfeiture of the Yropert.y or any part t hcreof .
<br /> ^ 5. Hazard Lnsur�ee. Borrower =6a11 keeFi tiu iui � �rovements nnw exixting or hereufter erected on the Yrop-
<br /> i'� erty insured againet loss by fire, hazards inctuded within ttie term "extended coverage ", and such other hazards as
<br /> Lender may require und in such umuunts and for sucl� perioil� a, I,ender n�ss�� require ; providc� i , that I.ender ehall
<br /> not require thut the amount oi such eoverage exceed thut� amount of roveragc reyuired to l�ay the smns secured 'by
<br /> this Mortgage.
<br /> The insurance carrier providing tlie insurauce shall bc chosen b}• Borrower subject to approval by Lender ;
<br /> provide�l , that, such approval al�all not be w�reusonably withheld . All premiams on insurance policies ,hall be paid
<br /> at Lender's option i�� the manner { �rovided under � �aragraph '? liereof or by 13on•u�eer making pay �nent, when due,
<br /> ditectly to ttie insurance carrier.
<br /> In the event any policy ie not renewed on or before ten days of its expiration, the Lender, to protect
<br /> ita interest, may procure insurance on the improvementa, pay the premiums and such sum shall become
<br /> immediately due and payable with interest at the rate set forth in waid 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 insurance policies and renea•al. tl�ereof �I�all he• in im•� u ui•�•i�ptublc tu Lcu� ler aud s6all include a ntan�ard
<br /> mortgage clause in tavor of and in for�n acce�nable ro I.ender. Lender ,hull hnve thc rigiit to 6old the �iolicies and
<br /> renewals thereof , and Borrow•er shull promptly furnisti to Lender all renewal notices und all receiple o[ paid pre-
<br /> miums. In tlie event of ]oss, Borrower shall give � �ruin�.ic notice tu tlie insurauce currier �nd Lender, and Lender
<br /> �nay make proof of lose if not made proniptly l�y 13orroµ�ei•.
<br /> Unleas Lender und Borrowrr otlierwise ugrre in N ritiug , iu,uraucr. E �roceeds ,iiall t,e applied to restoration or
<br /> repair of the Property dainaged , pro�•ided such re�tm•ation ur n•� �uir i� econoiuic:ill�• feu.iblr und the sucurity of
<br /> thie Mortgage is not tliereby impaired . If such restor,� tion or repair i� not econu� nic.tlly ieasible or if the security
<br /> of thie �lortgage would be impaired , the insurance � �roceeds shall Inr sF� plicd to thi� sums secured by this 1�lortgsge,
<br /> with the excess, if any , paid to Aori•ower. 1C thE: Yropertv is ahan�lo��ed by I3orrower or if Aorrower fails to respond
<br /> to Lender within 30 days after notice by I .ender to Borroµ�er chat thc insurance carrier offers to settle a claim for
<br /> insueance benefits, I,ender is authorized to collect and upplp t6c i��surxnce �iroceeds xt I,ender's option either W
<br /> restoratioa or repair of the Yroperty or to the �ums secured In� tl �is \ lortgage.
<br /> Unless Lender anci Borrower oit�erwise agree iu writing, ssny suc} � application of proceeds to principai ehall
<br /> not extend or postpone the due date of the n�onthly installments referred to in paragraphs 1 und 2 hereof or chrnge
<br /> the amount of such installments.
<br /> If under paragraph 18 6ereaf the Yroperty is acquired by I,ender , :ill right , titic and interest of Borrower in
<br /> and to any insursnce policies and in and to the proceeds themof ito tlio extent of t6e ,ums secured by this Mort-
<br /> gage immediately prioi• to such sale or acquihitioni 1'P.LLlflil(� (PUOI � 1au �aKe to thc Yropertv prior to the sale or
<br /> acquieition shall pass to Lender.
<br /> i. Pnwrvation �d Mmat�amaeo of Prop�rty; I.�aseholds: Condominiums. 13orrower �hall keep t.he Prop-
<br /> erty in good repair and shall not per�nit ur comtnit waste , icnpairment , or deteriorution ot thr Yroperty and shall
<br /> comply with the provisione of sny lesse , if thi, \lortg�ge i, un u ]easeliold . lf this \fortgage is on a condominium
<br /> unit, Borrower shall perform all of Borrower's obligatio��s under the declaralim� of condmninimn or msater deed ,
<br /> the by-laws and regulation� of the condominiuin � ,ruject :tn�i eon,tituerrt documents.
<br /> 7. Protactioa of I.�adei s S�eurity. If Borrower l:ails to perfor�u the co��enants und agreetnents contained in
<br /> this Mortgage, or if any action or proceeding is con�menced whicl � �uaterially affects I.ender 's interest in the Prop-
<br /> erty, ineluding, but not limited to, en�inent dou �aiu , iu,al �'.•ucc , �•od�• enfurcenient , or arrangements or proeeed-
<br /> ings involving a bankrupt or decedent, tLen Lender ut l .end�r '� option . upou notice to Borrower, may mslce such
<br /> appesrances, dieburse sucli sums and take such 3ctiun a� i� necessar�� to protec•t Lender', interest , including, but.
<br /> not limited to, disbursement of reasonable attorney '� fee� snd entry upon the Yroperty to make repairs. Any
<br /> amounts disbursed by Lender pursuant to this paragraE�h 7 , ��•itli interest thereon , shall become additional indebt-
<br /> edneas of Borrower secured by this \iortgage. Unless Borrower and I .cnder agree to other tem�s of payment, such
<br /> amounts shall be payable upon notice trom I.ender to Borrower reyuesting payment thereof , and shap bear inter-
<br /> est from the date of disbursement at the rate stated in the Note unless payment of interest at such rate would be
<br /> contrary to applicable law , in whicl� event such amounts shall besi• interest at the highest rate permiseible by
<br /> applicable law. Nothiug contained in this � �aragraph ; sh:ill require I.ender to incur any expense or do any act
<br /> hereunder.
<br /> f. Iosy�etlod. Lender may uiake or cau�e tu be mx� ii• reatiouxhle• c�ntrie, upon and iiieE�ectione of the Prop-
<br /> erty, Frovided thst I.ender �hull gi��c F3orroticrr t;otir� � , , i�r w .u ;} , u, l � iu.� �.�� tiuu .� ,e�� ii�� i ��K reui;uuni� lr cxuee
<br /> therefor relsted to I.ender's interest in the Property
<br /> 8. Condbneation. The proceeds of ssny uwsrd or <• Isim for damsges, direct or consequentisl , in connection
<br /> with any eondemnution or other taking of tlie Yroperty , or � iart thereuL or fa• cwne��xnoe in lieu uf cunde�uux-
<br /> tioa, st+e hereby assigned and shall he paid to I,ender.
<br /> In the event of a total taking of the Yroperty , the � �roceeds �6a11 t �e app� ied to thc sum� secured by this Mort - �r�`
<br /> gree, with the excess, if any, paid to Borrower. In thc event uf a E�artial taking of the YroEx�rt.V , unleece Borrower � °' '�'
<br /> and Lender otherwise agree in writing, there sLall tx a�.�plied to the sume �ecurcd by thie \lortgage �uch propor- �
<br /> � tion of the ptoceeds as is equ�l to that proFwrtion which tl�e amount of the nums secured by this Alortgage imme- . , ��
<br /> distely prior to the dste of taking beare to the fair market ��nlue of tlie Yroperty immediately prior to the date of :�M,'
<br /> faksns, �vith the bsiance of the proceeds pnid to Borrower.
<br /> Ii ttrE Praperty is ut�au�lonari Ly Burrowm• m� ii xiter nuwce b,y I,en�ler co liorrower tt�at tee condemnor offen:
<br /> to mslce e�n ax•asd or seLtle a claicu for Jxwxg�, Bwruwer fxila w resNuu� w l.eu.ier wichiu :i�l days of the date
<br /> of rueh cwtioe, I.ender is suthori:ed to collect and apply th<� proceeds xt l,ender's uption c:itlirr to restoration or ""
<br /> ropaiz of the Property or to the eume secured by this \lortgage.
<br /> tlnlew Lendar und Borro�ver M.hwrrviwr agree in writing, nny euch sppiication ef procceds to princiµal si:ull
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