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<br /> If under p�ragraph 18 hereof the Propercy i, nold or thc Propf•rty is otLcru�ire acquired by I .euder . I.ender �
<br /> .h�all uPplY , no later thun immediatelv prior to the n;� le ol thr Yro� ��• rt}• ur it � a�•yui.<rtimi V .y L�•n� i��r . :� u �� Fundn
<br /> held by Lender at, the tuue of application a, u eredit aKuin.t tlie .uin� s��curo� l I >}� thi= �durtKagv .
<br /> � 3. Ayplieation oE Paym�al�. Unle�. up��licablc� I :i �+ � uoviilc� otl�erwi.>c . all payincut.� mi�eived by Lender
<br /> � under tl�e Note �nd �:ar�graphs 1 und '2 hereof eluill Lo a� �� �lie�i b}• Lender tir�t in � reynient of aniount � payable to
<br /> � I.ender Uy Borrower under pnragraph 2 liereo( , thru to intcrest � �an�:ihlr on tl �c• tioti� and un r�,t � ��• .� � i .-,�„�eb , if
<br /> I� any , and then to the principal of tl�e Not�� and to tlie � irin�i� �al ot Futur�� A�i �:uucfi , if uny.
<br /> C �. Ch�g�a: Li�ns. Borrower sLall pay all taxes , assessments und utlicr charges, fines aud impositious attrib-
<br /> � C.7 ut�,ble to the Property which �nay attain a priority over tlii. �1ort �age , and �round rent� , if a��y , at Lender's
<br /> ^ option in tbe manner provided under ��aragraph 1 hereof m• by F3orroNer making puy�tient , when due , directly to
<br /> � the payee thereof. Borrower shall promptly f�rnish to I.rnder ail notioes uf sinounts duc under this paragraph ,
<br /> sad in the event Borrower shall makc paymeut directly , tiorro�� er shull promp� ly turnish to I.euder receipts evi-
<br /> dencing eucl� payrnents. Borrower shsll promptl,y discharge nny lien «�hieh ha, �n•iority over this \fortgage ; pro-
<br /> vided, th&t Borrower shall not be require�l to discl�arge un�� siul � lien �o ]on� as liorroµ•er shall agree in writing to
<br /> the payment of the obligation secured Uy sucL lien iu s mauncr ucceptabliato I.ender, or rhufl iu good taith contest
<br /> such lien by , or defend entorcement ot �ucl � lien in , legal � �roceeding� wl� ich operate to � vevent the enforcement of
<br /> the lien or forfeiture ot the Yroperty or un�� �,art tl �ereof.
<br /> S. Hasard Iasuem+e�. Borrower �hall kee� > tlic iin ��ro��ementa nu�c eaisting or lieresfter erected on the Prop-
<br /> erty insured against loss by fire, hazards iricluded wi[hin tdie term "exteuded coverage". and such otl�er liazards a5
<br /> Lender �uay require and in such enioui�ta � n�l for sucli � �eriods :i� Lcnder �uu�� irc� uirc ; Eiro��i�ied , that Lender ehsll
<br /> not require that the suiomit of such coverage exceed tliat amow�t of �•overage reyuired to pay the swns secured ' by
<br /> thie Mortgage.
<br /> The insurance carrier providing cl�e in.w•a�iee shail be c•hosen lr�• iiorrower ,ubject to approval by Lender :
<br /> provided , that such approval shall not be unrcasonably withlield . All premiums on insurance policies �hall be paid
<br /> at I.ender's option in the tnanner provided uuder � �:u�agra��li 2 hereof or b�� 13orruwer makin� pay�uent , when due ,
<br /> directly to the insurance carrier.
<br /> In the event any policy is not renewed on or before ten day� of its espiration, the Lender, to protect
<br /> ite interest , may procute insurance on the improvements, pay the premiume and sucfi sum ahall become
<br /> immediately due and payable with interest at the rate set forth in said note until paid and �+hall be
<br /> eecured by this Mortgage. Failure by Borrower to comply may, at option of Lender, constitute a defanit
<br /> under the termb of this Mortgage.
<br /> All insurance policie� und renew�tls thereof �liasli b�� in forw :u•er��table tr� L.�niier and �hall include a standard
<br /> mortgage clsuse in favor of and in for�t� acce�nable to I,ender. I .a•nder ,liall h:i�•c the rlght tu I �old the policies ssnd
<br /> renewals thereof , and Borrovver �liall prouipth• furnish to Lendc•r :ili renews! noticen and sll recei��ts of paid pre-
<br /> �niums. Iti the event uf loss , Borrower shall girc, � �rompt uotic�� to t1 �e iusurauce currier and I.ender, and l,ender
<br /> may �nake proof of loss if not inade prmupUy Uy Borrower.
<br /> Unleas Lender and Borruwei• otl�erwise agree in µ riting, in.ui•:ii ��•c �, ruceeJ� .hall be apE�lied to restoration or
<br /> repair of the Yroperty damuged , pro��ideci such reetoration ur re� �� ir i, rconuwi ��ally fr.xsible uud the security of
<br /> thir Moetgage is not thereby- impaired . If � uch m�tor:ition w repair i � not ecunumic:tlly feasibte ur if the security
<br /> of t6ie 3lortgage would be impaired , tl �e in�w�auce � �rocee� ls yhall I ,�� a �>� � lied to th �� suns secured by this 9�fortgage ,
<br /> with the excess, if any, paid to 13orrower. ! f the Yro��eiKp i, aban�iune� i by Borrower or ii Aorrower fail� to respond
<br /> to L.ender within 30 days after uotice by I .euder iu Borroe� er thut the insura�ice �•arrier offers to �ettle a claitn for
<br /> inrur�nee benefits, I .ender ie suthorized to collece and apply tlic insure�nce proceeds at Lender's option either to
<br /> restoration or repair o1 the Property w to the surns secured L� tliis � lortgnge.
<br /> Unless Lender and Aorrawer otherµ�i�e agree in writing , any� Fuch applicat �ou o( proceeds to principel sha❑
<br /> not ertend or postpone the due date of the inontlily installmcnts reterred to iu paragraphs 1 and 2 hereot or change
<br /> t6e amount of such inetallments.
<br /> If under paragraph 18 hereot the Yroperty is acquired by Lender, all rigLt , title and interest of Borrower in
<br /> and toany insurance policier xnd in an�i to the proceeds tl�ereof' ito cLi� exca-nt uf ihe ,uins secur�d by this Aiort -
<br /> gaQe immediately prior to such sale or acquitiition i re�ultin�; f'rum � ix�uuge tu tlic Yropert�• prior to the sale or
<br /> acquirition shall pase to Lender.
<br /> R Atiwr�ation amd Mmnt�e� of Prop�rty: Isawholds; Coadomiaiums. 13orrower shall keep t he Prop-
<br /> erty in giwd repsir and shall not ��ermit or commit wt�ste , impairmert , or detcrioration ot the Property nnd shall
<br /> comply with the provision� uf uny lease , il this \ lurcgage i� un a Icaseliold . 1S thi, �Sortgage i, on a condominium
<br /> unit , Borrower tihall E>erforni all of Borrower's obligation, under the .lecluration ot coudorniniwn or master deed ,
<br /> the by-laws and regulatione o( tl�e condominiuni � �rojrct an� 1 �•onsticuent documents.
<br /> 7. Pret�etiea o! L�nd�i a S�eurify. If korrower iail. tu perforeii the covenants aud x�;reements contained in
<br /> thir �Sortgage , or it any action or procec+ding is conmienced whicli materialh� affects L�nder's interest in the Prop-
<br /> erty , including, but not limited to , rininrnt doinaiu . iu�ol � �•u�•t . �•air �•nforcenient , ur arrange�nents or proceed-
<br /> in`s involving a bankrupt or decedent . tLen Lender sc Lender'. optiun , upun noticc W F3orrower. may make euch
<br /> appsarances , disburse sucli sums and take aucli acciou ae i� u��ce�san• to � ,rotect Lrnder'e interest , including, but
<br /> not limited to, disbursemeut of reasonable atcorney 's ier. and i•ntry upoii th� Yroperty tu make repe►in. Any
<br /> amo�tntr disbureed by Lender pursuani to this paragraE�li 7 . �citl � interest thereon , shall becoiue additional indebt-
<br /> edneet ot Borrow�er secured by this \iortgage. Unless Rorrower and I .ender agree to other terms of payment, such
<br /> amounts ehall be payable u{wn notice from Lender tu L3on•oNcr reyursting ��ayment thereo[ , and shall bear inter-
<br /> eN, from the Jate ot dir•bursement at tlie rate etated iu th�� \o�e uulees pay�urut of i�rierest at such rate would be
<br /> coptrary W appl �cable law , in which event such c�mouuts nl�all bear intereEt at the liighest� rate permiesible by
<br /> applicible law . Notl�ing contained in this parxgrapl � 7 slinll reqwm Lender to incur any expense or do any act
<br /> 6ereunder.
<br /> •. le�p�eQea. I.ender may make or �xu=e to tx� mH<ir re�s=onxhl�� ��ntrie� u��on an�1 inapection� of the Prop-
<br /> erty , provided that Lender �hall Ri�•e Borrow•er noti�•c� � � nor io an}� �w•li in ��ir�•t �on �� rerifyin�; re$conable CSllSB
<br /> thercSor related to Lender's interest in tlie YroNerc�• .
<br /> !. Ceed�alim. The proceede of ssny �ward or � isini ior damages , direot or consequential , in connection
<br /> with any eondemnstion or other taking of the Yropen �• , ur � �art thrreof , m• tor c•onveysnce in licu of condemna-
<br /> tion, are hereby acsigned aad shal! I�e paid to Lender.
<br /> In the event of a total taking ai the YroNerty , th� � irocee�ie rlxall t �e a�iE�l�ed to the .uiur .ecured by t.his Mort- y
<br /> «t, with the e�ccesb, if any , paid to Borto���er. In the e�-ent of a partial t.aking o( the Yroperty , unless Borrower ,,. : ��
<br /> aad Leoder otherwire agtee in writing, there el�all be ap��lied to cl�e nums e:ecut+�xl by thie \iort�age such propor- �' `
<br /> i tioa ot the ptnc+eedc as is equal to Wiat proportion which tlie anwunt of the snms Decured by this \fortge►ge imme- �
<br /> L disLiy prioe� W the date of taking bears to the fair market vatue u( tlie Yro}�ert �� i�ntnediatel�• prior to the date of �a
<br /> t�l[il�, �vffh tM br�ance �' tlse penoeeda paid to Botmwer.
<br /> If tJr Pf+�ee�ty is sband�oaed bv Borrower or if xfter noUee Yjv l.ender to Borrower that thr ��ondernnor offerF
<br /> to noalte aa arasd or seLtle a clsim for damrRes, SorroW er fail� to respond tu Lender withiu 30 dav� of the date
<br /> ot weh estiee, I.ender ic aat+4orised to colject and a�ply the proceed� at I,ender'r o}�tion eitl�rr ta rehtoration or »
<br /> rep�ir ot tbe Prapeity or W t� �ma eecured by tl�is \lortgage.
<br /> Unk�s I.endet and Borrower otherwise aeree iu wnting, any such application of proceeds to principal stiall
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