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<br /> If under paragrapli 18 hereof rhe Yro��erty i= sold ur the t'ropert �� i.. othenvi.��� a�•quired b�• Lcuder, Lender
<br /> � shall aPp1Y . no later tlian i�runediately Prior to thc sslo of the yro� ,orty or ii � aar� � ui.itiun fry Lvu� fer. :iny Fwidn
<br /> M held by l.ender xt the tiiue of application �s u credit again�t tLe suin. .ecur��� 1 t ,� tl�i. lfortge��;� .
<br /> � 3. Ayp�lieation of Paym�nts. Unleas z�pjilicablc Iuw� provide� otherwice, all pay�nents n�ceived by Lender
<br /> � under the Note and paragraplis I and 2 hereof sluill Lo npplieil 1 ��• Lcud��r tirst in psyinent u( atnounts f ,�y�ble to
<br /> O I.ender by Borrower under paragraph 2 liereof , then tu interest p.iyssbl�� on the '.Votc and on Future Advancee, if
<br /> ' O any, and then to the principal ot' the Note and to the � �rincipal of Future A� i ��:� nres , if �ny .
<br /> �. �gN: LiMu. Borrower shnll pay all tuxes , assesstnents und ot.her charqes , fines and impositions attrib-
<br /> ^ utpble to the Yroperty which may attaiu a priority over t6is �iorcgaqe , ami gromid rents, if any, at Lendet's
<br /> ,� option in the manner provided under paragraph 2 hereof or by I3orrower making pa,yment , when due . directiy to
<br /> the payee thereof. Borrower shall protnptly turnin6 to Lendcr sll notices of amounts due under tl�is paragraph ,
<br /> and in the event Borrower shall inake paynient Jirectly , liori•uH•er stiall prou�ptly furuis6 to Lender receipts evi-
<br /> dencing aucl� payments. Borrower shall � ,ron�� itly discharge au}� lien w�hich has �u•iority over thix �lortgage ; pro-
<br /> vided, that Borrower shaU not be reyuired to dischur�;e any su��li lien so long ;�� Borrower .hall agree in writing to
<br /> tl�e payment of the obligatiai secureci by such lien in :i manner acceptuble to Lc�n�ler, or nhall in good faith contest
<br /> such lien by, or defend enforcement of sucli lien in , legal � � �viceediug, �rhich operate to pre�•ent the eniorcement of
<br /> the lien or forteiture of the Yroperty or anp � �art. tl�ereof.
<br /> S. Ha�ard tosuraae�. Borrower shall kee� � tl�e iiu � �ro��rments no�� rxi�ting or lierea(ter erecLed un tl�e Prop-
<br /> erty insured agsinst loes by fire, hazards included within the term "exteuded coverage " , and sucl� uclier hazurds as
<br /> I.ender may require and in such aniow�t� aud for such ��erio�l.. u= Lrnder eu:i} require ; f�ro� ided , that Lender sha11
<br /> not require that the amo �nt, oS such corerage ezceed tl �at �inount of ��overage r��yuired to pay the sums secured 'by
<br /> thie Mortgage.
<br /> The insursnce carrier �iroviding the insuraucc ,hall t�e ehosen b� Borrawer ,ubject to ssppro��al by Lender ;
<br /> provided , t,hat such approval shall not be wireusonnbh• «�ithhel�l . :� 11 premiums ou insurance �iulicie� .hall be paid
<br /> at Lender's optiou in the manner providrd uuder � �urugra�� h 2 liereoi ur bp liorrower �uaking � �ayment , when due ,
<br /> di�+ectly to the insurance carrier.
<br /> In the event any policy is not renewed on or before ten days o[ its espiration, the Lender, to protect
<br /> its intereat, may proc:ure insurance on the improvements, pay the premiums and such sum shall become
<br /> immediately due and payable with interest at the rate set forth in said note until paid and shall be
<br /> secured by this Mortgage. Failure by Borrower to comply may, at option ot Lender, conEtitute a default
<br /> under the terms of this Mortgage.
<br /> A11 insurance policies and reneH� al. tliereot •Iiall bo iu iorui n�•ceptal��c. tu Lender and .�hall include u atandard
<br /> �Y�ortgage clsuse in [avor of and in foru� acce�,tabie to Lender. l .rnder �hall l�ia�•c the right to hold the � �olicie� and
<br /> renewale� thereof, and Borrower shall promptl �- turnis6 to Lruder all rene«�al IIOl1CP.5 gI1(� ull receipts of paid pre-
<br /> miums. in the event ot losn, Borrower shall gire ��ro�n��t i �oticr tu tl � �• in,urancr currier and l.ender, and Lender
<br /> may make proof of loss if not made protnptly !�y Borroµ rr.
<br /> Unl�s Lender and Borrower utl�erwise agree in �vritiug , iu�urauc�• }�roceeds ,hal� be aE�plied to reatoration or
<br /> rep9ir of tlie Yroperty dainuged . ��ro��idr�,l .uch re�turauon ��r r��� �x � r }. ���•orunii} i.:� ll�• 1'en�ible an�l t� he recurity of
<br /> thir Mortgage is not thereby iiupaired. li such restorution or re� �sir i.- uot e�•un�mirull�• feusible or if the security
<br /> of thie Aiottgage would lre impaired, tl�e insurauce proceeds shall I ,�� yF�p ��e�! ta tl�e sums secured hy this Mortgsge ,
<br /> with the ezcess, if any, paid to Borrower. If thc Yroperty is aban�luned bp f3orro«-er or if Borrower fails to rer�pond
<br /> to Lender within 30 days after notice by I .ender to Borrow� cr tl�ut thr insurance carrier oBer� to settle a claim for
<br /> inrwatwe benefits, I .ender ia authorized to collect and spF�l}• the insuruuce �irui•eedn at I,ender's uption either to
<br /> reetorstion or repair of the Yroperty or to the su�ns sr.oure�i t�� this \ lortgage.
<br /> Unlere I.ender and Borrower otherwise agree iu writinK, sn}- such up�ilic.�tion uf procredn tu principal shall
<br /> not extend or postpone the due date of the montlilp instalin �ent � referred to in paragraphs 1 and 2 hereof or change
<br /> the amomt ot euch installments.
<br /> If under paragraph 18 hereoi the Yroperty is acquired by I.ender, all right , title xnd interest of Borrower in
<br /> �d to sny insurnnce �wlicies and in and to the proceecis tliereoi i to th�• eztent of the .uu�� secured bv this Mort-
<br /> gage immediately }.iriur to sucli salr or acyuisitiuni re�ulnu� iru�❑ dunui�;e tu the Yroperty � uior to the sale or
<br /> acqui�itiou shal! pase tu Lender.
<br /> �. PnNtvatioa md Mmnl�aanp of Prop�rty: y�s�holds: Condominiums. Borrower ,hall keep the YroP-
<br /> eity in good repair and shall not permit ur comruit waste. impairn�ent . ��r detrriora�ion oi the Yroperiy and shall
<br /> comply �vith the E�ro�•isions of anp leasr, ii rhis \ lurtgage � � un a leaaeliold . If thi� \lortgage is on a condominium
<br /> unit, Borrower ehal! perfortn all of Borrower 's obligation� uuder the �ieclaruciuu ut co��dominium or master deed ,
<br /> the by-lsws and regulations of the+ condominiuui � �ru� ec• t :xnd cunscitue�n doci�ments.
<br /> 7• Frot�etios of IwndK"s S�eurity. If Borrower fail ., tu �ieriuriu the cuveuants and ugreementc cuntained in
<br /> t6is Vlortgage, or if any aetion or proceeding is comwe��red �vhirl� niateriulh� atTectr I.euder'a interest in the Yrop-
<br /> erty, ineluding, but not lunitecl to, eminen[ doivain , in�ui � ��n��v , ou, l�• enforce�nei�it . a� urrangen'�ent. ur proceecl-
<br /> i� iAvolvin� a Uankrupt or dececient , then Lender at I .ender'� uption , upon nutice to Borrower, way mske such
<br /> appearancee, dieburse such eums xnd take su�h actioe� as f � ne�•e.sary to protect I.ender's interest , including, but
<br /> not limited to, diebursen�ent of reasonable attorne,y 'c lee. sud entry upon the Yroperty to make repairs. Any
<br /> acnounts diebureed by Lender pursuant to thi� paragrapli 7 . �vitli intereet thereon , sl�all become additional indebt-
<br /> edaosa of Borrower secured by Ihis �tortgage. Ilnless Borro��er an�i I ,c�nder agree to otlier tern�s of payment , such
<br /> amounta shall be payable u{wn notice frotn Lender �o Burrow•er reyuesting pay�nent thereof, and sliall bear inter-
<br /> est from the date of disbursement at tl�e rate stated in the \`ote unless ��aymrnt uf interest at such rate would be
<br /> contrsry Lo applicable law , in which event Fuch amounts .hall liear interest 3t th�� highe�t rate pern�iesible by
<br /> applicable law. 1otl�iug couLaiu�v ! in tl�i. � �nrngra��li ; .h;i11 requiri� L��ndrr to Incur u��y �xpene�e or do an,y act
<br /> hereunder.
<br /> •- Iwp�e.'1ien. l.ender ruay make or ��su�e to I��• ma�ic• re�s.onahlr rntrir. upun ami inspertions of the Prop-
<br /> erty, Provided that I.ender shall give Borrower noti<•c � �ri<�r ro ,an}� .• ui• li in.� �ertion ..� �eeifrinR reaFonable cauae
<br /> tlferofor related to Lender's intemat in the Propert��
<br /> !. C�wd�sealiaa. The proceeds of any :�warci or � laim for �lamages , dirert or consequential, in connection
<br /> with aay oondemnation or other caking o1' the Yro��ertp , or part th��reof , a• !or �•un�•eyxncr in lieu of condemna-
<br /> tiic�t+, +re hereby assigned and ehall be psid to I,ender. �t,
<br /> In the event of s total taking of the Yroperty , thc � ,i•orerd.� .hall I,e xppiieci tu the su�n. secured b�� t.his '.1Qort- "+' ' ' a
<br /> sate, with the excesu, if any, psid to Sorrower. In t6e event of a � �artisl taking of the Yro�x•rty , unleec� Borrower � �
<br /> asd I.eeier athenvae agtee in writin�, tUere alial ! be a��ilie.l to the sum� �;ec�red b�� thie 1lorigage such propor- J ' ,��F�
<br /> taM of the ptrfoeeds ae ie equsl to that pro�wrtion whieh the umount of the eums secured b}� this \lortgage imme- �-,,�;,
<br /> d+�abe� }►esE►r �o �tx �fate of takinE bears to thc ;a:r u,nrL�t 1 aiu�� ui u,r 1' ruNrr�� u�uiieuiateiy pr�or to thN date of
<br /> ta�ttus• affi ti° i'ai�'n^" ^if thr Frocceda peid to Borro�ti�ci .
<br /> II t�t �'eap�erf� ie at�andoned by Sorrower or if sfter notice by I,ender to Borrower that the condemnor offers
<br /> to maw ae awitd or oeGtke a cl� far damaQes, Borrower fails tu ree�wnd to Lender w•itLin 30 davn o( ihe date `"
<br /> o[ suci► r�oWoe. Lendet' ie r�ithOriled ta cwlleat sod apt>lv thr nro�Fwi� xt LPn.iPd= „ntion oitlic•r to restoration o�
<br /> �'q�Y� ot tbe !'nopeety or tn the eun�e eeeured by t6is \tortgaQP.
<br /> U�r Lender sad Horrower �herwiee agtee in writing, any such application ot prooeeds tu ��rincipsl shalt
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