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<br /> If under �iaragrapti 18 hereof tl �e Yro� �errty i, suld or tlu• Pro��erh� i� othrr���i,�• arquired I ��� L��nder, I .ender
<br /> shall applY, no later than imcnediately � n•ior to tho sulc o( tlu• Yro� u� rt �• ur it � :uv � ui� itiuu I �y L�vuler. :, uy Pund�
<br /> held by Lender et the time of ap�ilication 3� a credit again.� th.• .oun� .,rrun •� f 1 �� i hi� \IurtKug��.
<br /> 3. App�ication of Paym�ats. L?nles• ap� ilicssble lun � �ruvi�le, uther�ci..�, . ul ! �i:iyu�rnt , received !iy Lender
<br /> �� underthe Noteund paragraphs ] and '21�ereof al�all I �o n� �plic� l hy L�•n� ior lu•�t in � �a}�� ncnt uf amounts payablc: to
<br /> �7 Lender by Borrower under paragraph 2 liereot , then to inte•re�t � �uyabl�� on th.� Vot�� un� i nn Futur�� A � � ��xnces , ii
<br /> '� any, aud then to the principal of the Note and to tlie � �rinei��al oi Futurc A� It anee., if any.
<br /> � I�" 4. Charg�a; Li�as. Borrower sLall pay all taxes , assessments un�i other charges, fines and impositions attrib-
<br /> `- ut,able to the Property which may att.ain a priority over tl,in \lortg�qe, and grouud rent� , if auy , at Lender'e
<br /> � option in the manner provided under paragraph '? hereof or I,y Borrower �nsskin�; payinent , wtien . du�r , directly to
<br /> ^ the payee thereof. Borrower shall promptl�• furnisli to I.ender all notice. of siuountti due uuder chis paragraph ,
<br /> ^ and in the event Borro�ver shall �nake payruenc directly, 13orroKer �Iiu11 ��ro�ut ,tl�� iurnish tu I .ender receiptc evi-
<br /> dencing sucli payinents . Burrower ehall I�ranl�tiy diecLargc u�n• lien which liaa � � riorit-y uver L6is \fortgage ; pro-
<br /> vided, that Borrower shsil not be required to disc6arRe au}� eiuli lie�i ao long us fiorro�rer sliYll agree in writing to
<br /> the payment of the obligation necured by such lieu iu .� manner :iaceptable to I.en�ier, or �Lall iu �ood faitli contest
<br /> aueh lien by , or defend enforcernent �P sucli lien in , legat � �roceediugs .chicli o�ierutc to � ,re��ent the entorceraent of
<br /> the lien or forfeiture of the Yroperty or uny �,art t hcreof.
<br /> 5. Hasard Inauza=►ee. Borrower shall kee� i tlu� iin�,ru� c�nent , uo�� c�xi� t iu �; ur hereaStcr e�rected on the Yrop-
<br /> erty insured againet loss by fire , huzards included witl�in the tertu ' •extended coverage" , ;uul sueL otlicr haxards as
<br /> I.ender may require and in Such umounts :lnd for surh � rerio�l� ;i� Le•���.ier iu:��� n���� ��ir�° : � iro��ide�i , that I.ender shall
<br /> not require that the smount of such co�•era�e execed th:u aniount of r�.�reruKr rryuired to pa�� the sums secured 'by
<br /> this Mortgage.
<br /> The insurauce carrier � rroviding the in ,tu�sucr .hall L�� �•ho,ru b}� t3orru�ccr subject to approval by Lender ;
<br /> provided , that auch spproval Shall not be w� reasunabh� withheld . All premiuma ou insurance pulicies ,Lall be paid
<br /> at Lender'e option i�i tt�e manner provided under � �:u�agr�iE�L 2 licreuf or h�� Borru�����r �ual: in�; puyiuent , when due.
<br /> directly to the insurance carrier.
<br /> In the event any policy is not renewed on or betore ten days of its eYpiration, the Lender, to protect
<br /> its interest, may procure insurance on the improvements, pay the premiums and such sum shall become
<br /> imtnediately due and payable with interest at the rate set forth in said nute until paid and ehall be
<br /> tiecured by this Mortgage. Failurr by Borrower to comply may, at option of Lender, constitute a default
<br /> under the terms of this Mortgage.
<br /> All insurat�ce policies and renewals tLcreot shxll bc in ioriu a �•�•�•��tuhli• tu L�•u� l��r :sii� l �liall includc a ntandard
<br /> mortgage clause in fa��or of and iu iorm uccepta6lc tu Lende•r Lrnd�•r �liall ha��r i iie rigl �t tu hul�l tLe policies and
<br /> renewala thereof, und Borruwer shall }�rowptly fw�ui.h tu Le��der sll renewal uotice, and aill receipts uf paid pre-
<br /> miums. In the event of ]oss , Burro�+�er �half gi � e protnpt uotice tu rlie iu.urauc�� currier ssnd Lender, and l.ender
<br /> may make proof of loss it not made prornptly 1,�• I3orrower .
<br /> Unless Lender and Borrow�er otheneise ugree in �vritiu�; , iu� ur:uu•�• � n•ocer.�l; nhal! 6e ap}>lied tu reatoration or
<br /> repair of fhe Property damaged . pro�•id�d ,uch re,torution or rr} �uir i � rcuuu� ui�•ulh• i<•a�ible au�l the �ec�rity of
<br /> t6is D4ortgage is not tl�ereb�� irnpaired. Ii � ucl� re�toi:uiuu w� re� �3 � r i� nut �•cunuinS��xl � �� feusible or if the security
<br /> of this \iortgsge would be itnpaired , t6e insurnnce proceed, �hall I �r uypiie�i to thr �urus secured by this Mortgage,
<br /> with the excess, if any , paid to Borrower. If tLe Yropc:rt}� i� sh�wluneii I,�• Borrower or if }3orrower iails to respond
<br /> to Lender within 30 days after not.ice by I.c:nder to Bon•oKer that the insurance carrier ufferz to settle a claim for
<br /> in�ursnce benefits, Lender is authorized to collect an�i ap}�l � t6r insurunce }iroceed� at I .endrr's option either to
<br /> restotstion or repair of the Property or to tlie sums secure�l Ly� tl� i, \lortgage .
<br /> Unleas Lender and Borrower otherwise agrer in writing, sn�• siicli cipplicatioii ol ��roceeds to principal shall
<br /> not extend or postpone the due date of the inuntlil,v iiiscallments referred to in paragraphs 1 aud '2 hereof or change
<br /> tbe amount of such instaliments.
<br /> If under paragraph 18 hereof the Yroperty is acyuired by Lender , all right , title and interest of Borrower in
<br /> �nd to any insurance policies xnd in and to the proceedr tlic•r�•of ito tli�• rxtent ui the suuis .ecurcvi bv thie '_14ort-
<br /> gage immediately }�rior tu sucl� salr or xcyuiciCiun � re�ultiu�; from dawaKr tu the Yro}�erty ��rior to the sxle or
<br /> acquisition shall paes to Lender.
<br /> 6. PttssrvatiOA �►d Mmtibo�e� 01 PsOp�rty: Iwas�holda; Coadomiaiums. 13urr.�wer shssll keep the Prop-
<br /> erty in good repair and shall not permit or caniuit k�aste , irnpairnient . ur � ic�t �•riorytiun ui thc Propert�� and shall
<br /> comply with the provisions o1 any lease , if this \lortgage i� .�u a I� •�xsehol�l . If thi� \lortga�e is un a condominium
<br /> unit, Borrower shall perforni all of Borrowrr'� ubligation� under rh�� �iec• l:u;�tiun ui con�iominium or master deed ,
<br /> the by-laws and mgulations of the condominiun � � uojrct un� i �•oustitucnt docwnents .
<br /> 7. Proleetioa o! Ladei s S�curity. lt Borrower iuil. tu perform thc ��u��rnant, und agreements contaiued in
<br /> thia Mortgage, or if any sction or proceeding is coinmenced whicii niateriulh� affects I.rnder 's interest in the Prop-
<br /> erty, including, but not limited to, emineut dou�3�u , iusol � cnc� , co�1c on1'orcement , ur :irraugement� or pruceed-
<br /> iags involving a bankrupt or decedent , theu Lender sst Lender '� option , upon notir�� tu Hurrower, n�uy inake such
<br /> appearances, disburce such su�ns and take such uction uc i� nece�.ary tu ; ,rotect I ,eoder's interest, including, but.
<br /> not limited to, disbursement of reasonable attorsiey '� fee. and eutry upuu the Yraperty to make repaire. Any
<br /> amounte disbursed by I.ender pursuant tu this paragrapl� 7 , with intcrest thereon , shall becane additional indebt-
<br /> edaess of Borrower secured by this �fortgage. Unless Borrower sud I .ender agree to other tenns of payment , such
<br /> amouats shall be paysble upon notice frotn I..ender to Borrower request.ing payrnent thereot , and shall bear inter-
<br /> est from the date of disbursement at the rate stated in tl�e `lote unless pet,yuic:nt of interest at such rate wouid be
<br /> contrary to applicable law, in which event such amo�mts El�all bear interest at the higheat rate permiseible by
<br /> applicable Isw. Nothing contain�d in this � +aragraph 7 ,hall requirr Lendrl- to incur un�� expense or do any act
<br /> hereunder.
<br /> 8. Ittapetion. Lender inav make or rHtist� to b�� �nq�i�� ,�����i,nahl, • ,��h�i��= , � ; ���n ar.,{ Er.=pc�•tior.� o! ! !:c Prop -
<br /> erty, pmvided that I.ender sl�a� l give Borrower notire� � �rior iu nn�• . u,� li in,��r�ti��n �� �eoifyin� rea�onaMe cau�e
<br /> thenfor related to Lender'a interest in the Propertv .
<br /> 9. Coodwmfatiea. The proceecis of uny a�vard or rlaim for da�uages , direM or con�equential , in connection
<br /> with any condemnation or other talcing of the Yropert }• , ur � �art th��rc�oL or for ronvevan���• in lieu o{ i•ondPrnna-
<br /> tioa, are hereby assigned snd shall be paid to Lender. � ,.�
<br /> In the event of a totsl taking of the Yroj�erty , tlie ��rc�cee .i.. �liall I �i• ;ipplird tu thc .wu� .ecured b}• this :bfort- �„;. �
<br /> gase, with the excesF, if an}• , paid to Borro��•er. In tl�e event of a � �artiul takinK oi che Yruprrey , unlesa Borro�ver �r
<br /> end Lander otherwice agree in wnting, there ehall be ap��lieci to tiir bumt �;ecurrd by this \lortgaqe �uch propor-
<br /> � tioo of 4he proceede as ie equa! to that proportion which tl�e s�nount of' the �ume �cureci h,y thie \lortgage imme- ( �m
<br /> diskety prior to the dste of tsking beare to ti�e fair mnrL•et ���lue of tl �e• Pro}�rrt�� immediately prior to the �iste of E�'
<br /> talria�, �vith tl�e irulnnce of the proceeds psid to Borrow er.
<br /> If the Prqiert,y iR ak�ndonevi by Rorrower or if :ifter notice G�� Lei7der to Borruucr t,l,at 1L� cw.la,�uw ..Ittr�
<br /> to makie sn as�ard or settle u claiw for dumages , Borrower tail� to resEwnd to Lender within 3U days uf the d�te „
<br /> of such notiee, Lender is suthorised to co!lect rr+d ap��ly� the pra�c�ed� at Lender '� option eitl �er to rentoration or
<br /> r�air of the Pro�erty or to the aums eacured bY tl�is \lortRa�r.
<br /> Ualeis Lender at�d Borrower otherwiee sgree iu writing, any such application ot proceeds to �rrii�cipnl sl�all
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