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<br /> � If under paragraph 18 hereof the Yro��erty i5 sold or tl �c Pro�iert�� is � �t6er���i ,�� aoquired by I .euder . I.ender
<br /> shall aPplY , no later tliun isnmediately priar tu thc nulr uf' tlic 1'rupertc ur it• s��yui>iliun by Lcud��r , :u� y Fund�
<br /> held by Ixnder at the time of application an ;� c•redif ugain�t t6e suw� .<e�•un•� 1 h� t hi� \lortgage.
<br /> � 3. Aypli�ation of Paymants. LJnless apF �licablc l�uc provide� otherwi«•, xll p:�ynients received by I,ender
<br /> �rj under the Note and paragrephs 1 und '2 herrof sliull I�c a� �plied b}• I.end .•r first in ��aymcnt o! arnounts payable to
<br /> � I,ender by Borrower under paragrapli 2 hereof , then to interc,t pityxble� on thc 1'ote and on Fut�ir�� Advanres, if
<br /> � any, and then to the principal of the \'ote eind to tl�e � �rinei��ul of Future A�ivances , if �ny .
<br /> � � {. Chtaq�a: Li�as. Borrower sl�all pay al ! tuxes, assessments und other eharges, fines and impositions attrib-
<br /> ,g uGsble to the Property which may attaiu a priority over tl�ia 1lortgage, and gromid rentn , if sny, at Lender's
<br /> � optiou in t.he manner provided under paragra��h 2 6ereof or b�- f3orrower m�kin� j �a,vment , when due, directly to
<br /> � the psyee thereof. Borrower shall promytly furnisL to I.endcr all notices of amuuuts due under this paragraph ,
<br /> i� 8nd in the event Borrower ehall makc pu.Yn�ent directh• , 13orro�+•er shull prom� �tly furnish to I,euder receipts evi-
<br /> dencing such payments. $orrower shall ��ronq>tly di�cl�arge auy lien which hus priority over this \tortga�e ; pro-
<br /> vided, that Borrower ehall not be required to disrhxrge an}� �u��h lien ,o long u. 13orrower sliall agree in writing to
<br /> the payment of the obligation secureci b�• such lien in u manner neceptable to Lender, or sLalt in good faith conteat
<br /> such lien by, or detend enforcement of �uoh lien in , legal � �roceeding� �+ liich operxte co �,re��cut the enforcement of
<br /> t6e lien or forfeiture of the Yroperty or any� part tl �ereof .
<br /> S. Hasard lasuraaesi. Borrower sliull kee� i tl�c iw ��ro�•ements no��� cxi�ting or hereafter erected on the Prop-
<br /> erty ineured against loss by tire , hazards included within tdir term "extended coverage " , und suoh othec hazards as
<br /> I.ender msy require and in such amounts und for sucli � �eriod� a� l .ender mu}� re<luire : � �ro�• ided , that Lender shall
<br /> not require ti�at the amount of such coveragr exeeed ILac amount of covrruge req �iired tu pay the aums aecured 'by
<br /> thia Mortgage.
<br /> The insurance carrier E �raviding che in,urau �•c shall bc rhoseu liy Iiorro�cer sul �ject to spproval by Lender ;
<br /> provided , thal such xpproval shall noc be unreasonably withheld . All premiums ou insurance { �olicies �hxll be paid
<br /> at Lender's option i�i the inanuer � �ro�� ided under � �:irngraiE�li 2 I�ereoi or hp Iiorrower muking ��rtyuient , when due ,
<br /> dinectly W the insurance carrier.
<br /> In the event any policy is not renewed on or before ten days of its expiration, the Lender, to protect
<br /> ita interest, may procure insurance on the improvemen�s, pay the premiumc and such sum shall become
<br /> immediately due and psyable with intereat at the rate set forth in said note until paid and shall be
<br /> secrured by this Mortgage. Failure Uy Borrower to comply may, at uption of Lender, ronstitute a default
<br /> under the terma of this Mort.gage.
<br /> All insurance policies and renewal� thereof �Lxll bi� in turni :wceptal�la to l .eu� ler Knd � hsll inelude ss stan�ard
<br /> �nortgage clause in favor of xnd in foi•iu ucce�itssble to I ,ender. Lcnder �hall liu��c tl �r right to I�old t6cr policies and
<br /> renewals thereof , and Borrower shull pran�ptly fw•nis6 to T.ru� icr all renewal notices und 311 receipts of paid pre-
<br /> miums. ln the event of loss , Borrower ,hult gi �•r � �rom}�t uotice to the iusurauce c•arrier and Lender, and I,ender
<br /> may make proof of losa if not made promptly liy Burrower.
<br /> Unless Lender and BorroK�er otherwise �Kree in u•riting . : n�ursuc�• pruceed, shall be applied to reatoration or
<br /> repair of the Property damaged , provided sucli restorutiou or re�,xir i. cronowiculh• feueible xnd the security of
<br /> this Mortgage is nut tLereby in�paired . li sucL restoratiuu ur reE �air i� uot rcunun�ically feaaible or if the seeurity
<br /> uf thie '�fottgage would be impaired , tLe in�urancr procee.ia �Lsll I �r applied to the sums secured by this Mortgage ,
<br /> with the excess, if any , paid to Borrower. lf tlie Yroperty is aLamloued F,�� 13orrotiser ur i1 13orrow�er fails to respond
<br /> W I.ender within 30 days after notice by I.ender to Bon•owef- that the insw•auce carriec• offers to settle a claim for
<br /> insutanee benefits, I.ender is suthorized to collect and appl �� the iusur:�nce procceds at I.ender's option either to
<br /> rorWration or repair of the Property ur to the surns sec�red by this \ fort.gage.
<br /> Unleas Lender and Borrower otherwise agree in writing , any such application of proceeds to principal ehrll
<br /> not extend or postpone tl�e due date of the �nontlily installments referred to in paragraphs 1 and '? hereof or chsnge
<br /> the amount of such installments.
<br /> If under psragraph 18 hereof the Yroperty is acquired by Lender, iill right , title and interest of Borrower in
<br /> and to any insurance policies und in and to tl�e proceeds tliereof Ro t6�� exteut of thu ,ums secured by this bSort-
<br /> gaQe immediately prior to such salc or ucqui.�itioni resultin �; iron� � isi ��age� to thc YropeMy }�rior to tlie sale or
<br /> acquioition shall pass to Lender.
<br /> i. Ps�s�rvation m►d Mmnt�nm+e� oI Prop�rty: L�as�holds: Condominiums. 13orrower shall keep the Prop-
<br /> erty in good repair and shall not permit ur comtnit waste , impairment , m• deieriaration of thr Yroperty ssnd shall
<br /> comply with the pro��isions of uny lease , if thi� \ fortgage i, � ,u a lcusehold. lf thi: \lortgage is on a condominium
<br /> unit, Borrower shall perfonu all of Borrower'r ohligatiou � under tYic declaratiuii of eundominium or master deed ,
<br /> the by-laws and regulation� at the condomininm project awi eonstituent document. .
<br /> 7. Peobetioa o! Iwndei s S�eueitY• If Borrow�er fail, to �,eriorru t he co�•rnw� t . :tnd ssKreemcnts contained in
<br /> thie Mortgage, or if any action or proceeding is commeneed wliich n�aterislh- affect . Lender's interest in the Prop-
<br /> erty , including, ba6 not limited to, rininrnt do�uxin , iu�ol �•�•ni•}� , code rnforce�ueni , ur arraugements or proceed-
<br /> inge involving a bankrupt or decedent , then Lender at ] .ender 'r oE�tion , upon notice to Borrower, may make such
<br /> appearances , disburse sucl� swns and take such actio❑ :�s i. nece�sary ta protect Lender's intereat , including, but
<br /> not limited Lo, diebursen�ent of reasonablr attoruey 's fee, �ud entry upon the Yroperty to make repsire. Any
<br /> amounte diabursed by I.ender pursuant to this paragraF.ih i , �eith interesi thereon , shall beco�ne additional indebt-
<br /> ednees of Borrower secured by this \fortgage. Unless Borrower and I .ender agree tv other tenns of payment , such
<br /> amounte shall be peyable upon notice frmn I.ender to Aorro�s•er requeeting payment thereof , and ehell bear inter-
<br /> e�t from the date ot disbursement at the rate rtat.ed in the \Tote unless �>syment of interest at such rate would be
<br /> contrsry to applicable law , in which event such amounts shall bear interest at t he highest rate permissible b,y
<br /> applicsble law. '_Vothing contaim�i in thi� ��sragra��h 7 shnit re��uiro Lender to incur any expense or do any act
<br /> heneunder.
<br /> �. Iotp�efion. I .ender rn��• msk � �r �•Hi�.�� to I�P lTl!iiI(` 1'PA�On ,lf�l�� ��ntrir� np�,n anr{ insE .���•ti„n• of th� Pmj�-
<br /> etty, pruvided that Lender Fhall give Borrow�er notire � ,rinr to nm• .urli in.��eetion �� �ecifyinR reaconahle cauKe
<br /> t6erefoe relsted to Lender's interest in the Properh� .
<br /> •. Caad�aoalioa. The proceeda of um• :tward or �laim for riama�es, direct or consequentisl , in connection
<br /> with sny eondemnat.ion or other taking of the Yro�ienp , or � iart thereot. m• for �•om�eyancc� in lieu of ��ondemna-
<br /> tiat, sre hereby sssigned and shall 1x paid to I.ender. ,
<br /> In the event of a toi,al taking of the Ymperty , the � �rocee�i� �hall be applied to the sum� seoured by t,his �1ort- � �
<br /> ga�e, with the eYcees , if an�� , paid to Borro��•er. In the event of a ��artial tnkinq of the Yrop��n�� , unless Borrower `��
<br /> � and I.eoder otheswiee agree in writing, there sl�sll be er�p�ied to the �urns Aecured by this 1lortgage such propor- � ;
<br /> tiam of the piviceeds sa is equal to that proportion which tl�e amount of the sums secureii hy this �Sortgage imme- ; -�,�
<br /> distely prior to the dste of taking t�ears to the fair markc�t ��alue of tlie Propert �� iinniediutely prior to tlie date of '�!'� `'
<br /> fikms, with the balance of !hc proceeds pnid to Borro« cr.
<br /> If the Yroperty is abandoned b�• Borron�er or if aiter noticc h�• I_endcr to Borro�rcr that the condemnor offer:
<br /> W �alce an aw�rd or eettle a claim for damagee, BorroK•er fsil� to respond to Lender within 30 days of the date
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<br /> of w�eh ao�Eiae, Lender is suthorited to collect and appl}• the procerci� ar I,c+nder'� option eithrr to rectoration or
<br /> rapair ot the Propert,y or W the sums eeeured bv this .11ortQa�ce.
<br /> Unle�s Lender and Borrower otlienviae agree in writing , any auch application of proceeds to principsl shall
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