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<br /> � If under � �aragrap6 1R liereof the Yro� xrty i, ,old or Il�e Propert �• i, uth�:�r�+ i..c u�•quired b�� Leuder, I .ender
<br /> ,hall applY , no later than iromediately � �rior to thi• rxle of the }'ro� �e•rt }• or it � aryw_•rtiun hy Len� i��r . any� Fuud�
<br /> M lield by Lcnder ut the ti�ue of applicatiai as a credit u�ain.t tlm �uw � .o�� iu ��� i I ,� iLi� \1urtRx��•
<br /> . • � 3. Applieation of Paym�ata. iTnles� applic•ubl�� li���� pro��ide= othcr���ir�• , cill puVu�eut� rcei�i ��ed by' L.ender
<br /> � under the '_Qote and psragraphs 1 :uid ? I�ereof �Lull hc ai � �E �lie� l h�• L�• mi�•r tir..t iu � �a�'iu��nt ul' :uuuunts puyable to
<br /> Q I,ender by Borrower under paragrupli 2 I �ereof, theu tu intcrc�st � �ayubli� ou tl �e \oto awi ou Futur�� A�lvunces , if
<br /> � »ny , and then to the principal of the Note und to tl �c prir�ci� �:tl of Future A�1 ��.inces , if :��iy.
<br /> � 4. Charg�s; Lieas. Borrower sLall pay all taxes, us�essu�ents und other charges, fines und impositions attrib-
<br /> � ^ utsble to the Property which may attain ii priority over thi, \lortgage, und groand rents , if suy , ac Lender's
<br /> option in the manner provided under paragra�ih 2 hereof or I,y 13orro��•cr insskin� pay�neut , when due . directly to
<br /> the payee thereof. Borrower shall promptly furnish ro Lender all notices of :�mouuts due under this paragraph ,
<br /> and in the event Borrower shall make puy�uent directly , F3orro�cer ,hull promE �tly iurnisL to Lender reeeipts evi-
<br /> dencing such payiuents . $orrower shall ��rom � �U �� dischsrge .w�� lien «• hich La. � , ria•it,y over this \;ortgage ; pro-
<br /> vided, that Borrower shall not be reyuimd to discliar�e any ,ueli licn so lon�; as f3orrowcr ,hall ugree in writing to
<br /> the payment of the obiigation secured by such lien in :� manner scceptxble to Lt,ncler, or shalt in good faith contest
<br /> sueh lien by, or defend enforeenient of nucli lieu in , le�ul � � roce�•dinq.� �chicl� o�ierat �� to � n�e.-ent the enioreement of
<br /> the lien or forfeiture of the Yroperty or any � ,art thereof .
<br /> 5. Hasard Lfsurmace. Borrower �liall kee� � tlu• iiu� �roe��mcnt , nu�� c•xi> tinR nr hereafler rrec�ted on the Prop-
<br /> erty insured agsinst loss by fire, l�azards included withiu the tern� "extended coverage " , and such o�Ler linzards us
<br /> Lender may require ancl in sucL ttinounts .uul for sucli �ierio�� a� Lcn.ler roa�• requirr, pro�� ided , that I.ender shall
<br /> not require tl�at the auwunt of sucL co�•erage eac•eed tLut amowit of ou��eruge rr� � uired tu pay thc sums secured ' by
<br /> this :bTortgage.
<br /> The inaurance carrier � �rovSding tlie iusuraure �hall I �c clioaen hc I3orru�cer ..ubject, to approval by Lender ;
<br /> pruvided , that, such approval shs(1 not be �mreason�blp withheld . :111 premiums on insurance policie� shall be paid
<br /> at Lender's option iu tLe n�t�nner provided uuder � �ur:tgr.i � �li ? hureoi or hy I3orrowcr n�uking payiuent , when due,
<br /> direcWy to tl�e insurance csrrier.
<br /> In the event any policy is not renewed on or before ten days of it� expiration, the Lender, to protect
<br /> its interest, may procure insurance on the improvements, pay the premiums and euch sum shall become
<br /> immediately due and payable with interest at the rate set forth in said note until paid and ahall be
<br /> secured by this Mortgage. Failure by Borrower to comply may, at option of Lender, wnstitute a default
<br /> under the terms of this Mortgage.
<br /> All insuraner � ioliciefi and renewal. thoreo( = hall I ,e in iurm u��c�•pr�bl�� tu Lc•wler an� i ,liall include u stanJard
<br /> inortgage cisu':e in favor of and iu forui acce� >talilc to I.rnder. t .c�n� i��r rhall I�a��e thc rigl� t to I �old the j �olicie� und
<br /> renewals thereo(, and Borrower shull promptly furnish to Leuder all reuewul uotices und all receipts of paid pre-
<br /> miums. ln the event of loss, liorro�vei• shsll gi� e proir�pe uoticr cu tl � e iusiu•ance currier und I.ender, and I.ender
<br /> may �nake proof of loss if not ivade pro�nptl�• I�y 13orrower.
<br /> Unlees Lender and Aorrower other�ci,e ssgree in w�ritiu�; , i�i.� ura� ice � �ruceeda .hall be upplied to restoration or
<br /> repair iit the Yrope�Ky da �naged , pro��idc�i su�•li re.toration or re{ �air i= ecuuaui�• sily� fcusible aud the aecurity of
<br /> this Alottgage is not thereby impaired. If nuch res4or:�tion ur re� isir i� not eco�w�nictlly fe:isible or if the security
<br /> of this A�lortgage would be impaired , the insurance procee�is .hall I ��� sp� �lied to the• ,ums secured hy this 94ortgage ,
<br /> with the excess, it auy , paid to Bun•ow�er. li ci �e Yra�,ert�y� i� uhaml��iue� i I ��• I3orrow��r m• iT Borrower fails to reepond
<br /> to Lender within 30 duys sfter nocice by Lender ro Borrower t6at th�• insura��ce carrier offers to settle a claim tor
<br /> inoursnce l�enefita, I.ender is xuthorized to collect und appl}� t6�� insurance pro�•eeds ut I.ender's option either to
<br /> reetoration or repair of the Property ur to the swns secw•e� I,�� tlii� \ lortgagc.
<br /> Unless Lender and Borrower otherwise ssgree in writing , suy sucl � application o1' proceeds to principal shall
<br /> not eYtend or postpone the due date of the inontl � lv installn ���nts referred to in ��aragraphs 1 and 'l hereof or chsnge
<br /> the amount of such installments .
<br /> If under psragraph 1S hereol t6e Yroperty is acyuired by Lender, ;ill rigl�t , title xnd interest of Borrower in
<br /> and toany insurance policie� and iu xud tu the procee�ls tl �ereot ito clio ezti-nt uf thr sum, secure�d by this �Iort -
<br /> gage immediately prior to sucli sale ur it�•quiriuuui re�ultiu�; 1ron� � laiuiiqe tu che Yrupert�• prior to the sale or
<br /> �equiaition shall pnss to I,ender.
<br /> R Pru�rvation �d M�t�aanes o! Prop�rty; Leaseholds; Condomiaiums. Borrower shall keep the Prop-
<br /> erty in good repair and shall not pertnit or comrnit waste , impairment . or deterioration of the Property and ehall
<br /> comply witl� tl�e pro��isions of any lease, iS this �fortgage is ou a leaseliold . Il thi� �lortgsge is ou a condominium
<br /> unit, Borrower shall perforni ull of Borrower '� obligation, under thc declaratiun of condominiurn or master deed ,
<br /> the by-laws and regulations of tiie coudomiuiimi �n•ojeci � nii cunstituent documents.
<br /> 7. Ptoteetioa ot L�nder'r S�eurity. lf Borrower fail� to ��erforin the i�ovenant, ssnd xgreements contained in
<br /> this Mortgage, or if any action or proceeding is comu�enced whicli muterially affects I,ender 's interest in the Prop-
<br /> erty , including, but nut limited to, eininent dou �ain . in,ol � ornc}� . �•cxl.• enforceuicnt , or urraugements or proceed-
<br /> inga involving a bankrupt or decedent , then Lender at l .ender '� option , upon noticr to Borrower, tnay mske such
<br /> appesrances, disburse sucL sums and take �ucli action a� is nei•e�sary to pro[ect Lender's interest, including, but
<br /> not limited t.u, dieburseu�rnt of ret�sonable attorney '� fee� und rnh•�� u� �mi the Yro�rerty to make repnirs. Any
<br /> amounts diebursed by Lender pursuant tu tliis paragrapl � : . �ti•itli interest thereon , shall become additional indebt-
<br /> ednesa of Borrower secured by this \Iortgage. Unless Borrower und I ,ender agree to other terms of payment , such
<br /> amounts shall be payable upon notice from l.ender to Borrower reyues6ing paymeut thereof, and shal! bear inter-
<br /> est from the date of disbursement at the rate stated iu the \ote unless payment of interest at such rate would be
<br /> contnry to applicable la�a , iu whicli event sucli x�uounts sliali bear interest at tl�c highest rate perinissiUle by
<br /> applicable law . ?vothing cantained in ihis � �arugrupli ; sliall re�� uirc• LenJer to incur any expense or do any act
<br /> hereunder.
<br /> R I�p�efion. ]xn3er may make m• <�nure to I ��� maci�� ma.unahl�• �•ntrie� u { �on and incpeetion� of the Prop-
<br /> erty, pwvided that Lender �hall give Borro�a�er notici� � n•ior to :un� .�u• li ins��ertion �pecifrin�; reaEonahle cauce
<br /> therefur relata�i w Ixulrr'a incrreec in tLe YroFirr��� .
<br /> !. Cood�nation. The pmeeeds of any award ur claini ior dnuiagee , direct ur conseyuential , in eonnection
<br /> with any condemnation or other taking of lhe Yroperty , or � iart th�•rrof , m• for com�c�yance in lieu of rondemna-
<br /> tion, at�e hereby aeeigiird and ahxll I�e Nnid w Leu�ler.
<br /> In the e�•ent of a tota! taking of the ProNerty , tlic � u•ui�re.iz rLell I �e a� �plicvl tu ihr �uin. .e��ured by thin Siort-
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<br /> g�e, with the excess , if am� , paid to Borrower. In the event of a partiul taking of the Yropert.y , unlese Aorrower ,;,., ,.,,� '
<br /> aod Lent�er otherwiee agree in writing, there shall lw applied tu th� sun�e seeurcx3 Ur thie \3ortgage such propor- �
<br /> � tion of the proceeds as is equsl to that proportion which tlie amount of' the ,ums secured by thie \lortgage imme-
<br /> di�tely prior to t6e date ot talcing bears to the f�ir market ��alue of tlie Yropertp imtuediately prior to the date of �°`;�
<br /> talrio�, with the balance of the procee�d� paid to Borrower. �+ ;
<br /> If t6e Pmperty is abatidoned by Borruwer or if after notice by Lender to Borrower that the condemnor offers
<br /> to �1[e ae avsrd or eettie a cls�m for dsmages , Norrower (sils to respond to I,ender within 30 days of the dste
<br /> uf w� notsoe, Lender is authonsed to cotlece and ap�ily the proceecin xt Lender 'x opt�on eicl�er to restoraWon or >
<br /> npsit of E6e Property or tk+ the swos aecured by tliis \tortgage.
<br /> Unbes Leader rnd Borrower ot,herwiee agree in writing, any sucl� applicstion of proceeds to pnncipal shall
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