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<br /> If under paragraph IS Lereof the Yro� �ertv i= .ul �i or thr Propert �� i.5 otfic�r�� i.e a�•yuired b}� Lcuder. I .ender
<br /> shall applY, no later than itnntediatelv � irior tu tlic salc ui tL<� Yro� �e•rt }' ur il � acyui�itiou Ly Leu � ler. any Funds
<br /> � 6eld by I.ender at thc tieue o1 ap��lication i, u �• n•� lit agaiu,t the ..wn.. .��riir��� l h� ehi. �lurty;a;;��
<br /> � 3. Applicalyon o� Paymendy. Linlea. up� �licabl� � lvt� � ,ro�•ide. otherwi e , all �,aqiueut , rcceieud l,y 7.ender
<br /> under the Note and paragrapLs 1 snd 2 lirrcof ,liall l ,c• applir, ! I �}� Lendi�r tii .t u� ��aym�•nt ut" .x�uount , E�ayable to
<br /> `� Lender by Borrower under para�raph 2 liereof , theu to int�•rv�t puynhle on the \ote and ou Futur�• Advances , if
<br /> � any, and then to the principal of the Note uud to tl�e prinri> >sl o( Futwr A� 1 � an�•c� , if an,y .
<br /> � {, C7�argq; Lisns. Bortower sluill p��� all taxes , assess�uenes and other rl �argeo , fiur,x und impositions attrib-
<br /> [ � ut,ftble to the Pnoperty whicti may attai.n a priority over tl� i, \tortFuge , and �roun�� rent�, if 3ny , at Lender's
<br /> � � option in the manner provided under paragra� �h 'l hereof or L�� Horrower inaking ��eyment , when due , directly to
<br /> ^ the psyee thereof. Borrower shall prauptly furnisli to Lender all notices of a�uounts duc under this paragraph ,
<br /> and in the event Borrower el�all makc pxyiue��t directly , BorroNrr �hall promptly iw•nis6 tu Lender receipts evi -
<br /> dencing such psyments. Borrower shall lironip[ ly dischxrge au�• lien K'}IICII La. � n�iurrty ovrr this \lortgage ; pro-
<br /> vided, tl�at Borrower shall not bc required to discLaige any �uoli lien so long �� Borrower shall agree in writing t.o
<br /> the payment of the obligation cecured by euch lie.n in u manuer ucccE�tuble tu Lender , ot .hull in �ood faith contest
<br /> aueh lien by, or defend enforcement of such lieu in , Iegul � �roce�eding5 ��•hich operatie xo � �re�•ent the� eniorcement of
<br /> the lien or forfeiture of the Yroperty m any part t I �ereof.
<br /> 5. f�azardlnsuraae�. Borrower �iisll kee� , tlic iinpro� e�nent. no�c ��xi �tinq or fiereafter erected on the Prop -
<br /> erty insured against loss by fire, huzurd�: included withiu the tc:rm • •extended coverage " , sud suclr uther liszards as
<br /> I.endermay requireand in �uch amount � uud for sucl � �,eriod � u� Len�ler iu:��- rryuirc �, � �ro�-i�led . that Lender shali
<br /> not requize that the $mount� of such co��erage ezceed tLat umouut uf co�•erage ri�quire� 3 tu pa�• the bums secured ' by
<br /> this Mortgage.
<br /> The ineurance rarrier providing t6e in,uraui•e �hull Le cliosen I ,� Iiurruwrr .ul ,ject to a��proval by I.ender ;
<br /> provided , that such approval shall not be imreaconnbl}• withheld . all premiums on insurance policies ,6ali be paid
<br /> at Lender's option in t6e mauuer ��rovided wider } �aragraE�h 2 hereuY m hy Borro�ver making � �ayruent, when due ,
<br /> directly to the insurance carrier.
<br /> In the event any policy is not reaew2d on or before ten days of its expiration, the I.ender, to protect
<br /> its intetest, may procure insurance on the improvements, pay the premiums and such sum shall become
<br /> immediately due and payable with interest at the rate aet forth in said note until paid and shall be
<br /> secured by this Mortgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br /> under the terms of this Mortgage.
<br /> All insurance ��oliciev and renewal. thereuP �h:all Ix� in ioru � :u�� ��� ,table to L��rnl�• r aud . f �sll in�� lude a stan�lerd
<br /> i��ortgage clause in favor of and in Soriu acecptable to I,en�ler. t .en�i�� r .<I�ulf ha�•�� tl �e riKlit tu hol�l the pulicie, and
<br /> renewals thereof, and Borrower ehull proniptl�� furnish to Lrudrr sli renewul notic?» uud all receiptc of psid pre-
<br /> miwns. ln the event uf loss, Burro�ver sliall gi �'r � �ruu ��n uoticu tu ti � � ii �aurauc�• currier and Ixnder, and I.ender
<br /> inay mske proof of loss if not uiadr: }�roiupcl,v t,,y Borrower.
<br /> Unlees Lender and Borrower otherw� ise agrre iu �� riUug . in� ur:, u . �• � �rucre�:; shall be aE�E�lie� tu restoration or
<br /> repair of the Pruperty dawagrd . �,ro� idc�d .ueh PrKtOC:itlUll ur ro� uxir i� ci•unuiui�;ill � fcasil� fc <tud tLc necurity of
<br /> this Mottgage is not thereby im} �sire�l . I i .>ucli rrstorutiun or re� �air � s uot erunu�uicully feusible or if the security
<br /> of this Afortgage wuuld be impaired , the insurance � �rocerd. �lizili In• �� �� � lie� � tu th�� suni, secured by thie Alortgage,
<br /> with the excess, if any . Naid to }3orrower. I1 the Yropert � i. sf �sinluue. ! b�� I3orru�crr ur ii BorroH�er inils to respond
<br /> to Lender within 30 daye after noUce by l .rnder tu Borrower � l�nt th.� iu,urauce osirier uffers to settle a claim for
<br /> i�ut�nce benefits, ].ender is authorized to collect aud apply- th�� insurunce proceeds at Lender'n option either to
<br /> restoration or repair oi tkiir Yropetty or to the ,wus eecured F,�� t lii. Alartgagc.
<br /> UnleBs Lender and Borrower other�s-ise agrer in �vriting . an �' such applicxtion uf proceeds to pripcipal shall
<br /> not eYtend or postpone the due date ot the � uonN � l �� in,tallnirnt , refrrmd tn in � �aragraphE 1 and '2 hereof or change
<br /> the �mount ot auch inetallmente.
<br /> If under paragrapL 18 kiereoi tlie f'roperty ic soquired 1 ,�� ],ender, :�ll right , [itle and interest of Borrower in
<br /> aud to auy inauranee � �olirier and iii aud tu thr � �ruerrJs thrreui � tu � ho extvnt u! th�• �uui. secured bv tlii� \1ort-
<br /> Ba=e immediately prior to sucli sal�• ur ai•yuinitiuni r�><ultiu �; iruui � iauiu�e � u th�� Yropeit,y ��rior tu the sale or
<br /> acquisition shall pnee to Lender.
<br /> i. Few�rvation amd Mmnl�nmac� o! Prop�rty; L�awholdr; Condomiaiuma. Eiurrower sha11 keep t he Prop -
<br /> erty in good repair sod shall nui ��ermit or corumit Haste , impairmcnt , or � ictrriorutiou of the Yroperty and shall
<br /> comply with the prorieions of uny leasr , ii this \lurtgage �� un s lexsehuld . If thi. �SurtgaRe i� on s condominium
<br /> unit, Borrower shsll perform xll oI Borrow�cr 's obligatiuux umicr thc �lrclaratiou of con�omiuimn or master deed ,
<br /> the by-laws and regulations of tl�r condominiuu � � n•uje•ct .in� i ��unstituent documente .
<br /> 7. probefipa ollwnder's S�eutity. It Borrouer iuil� [u � �criuru � the �•uven�nt � :uid u�;reements eontained in
<br /> this 1lortgage, or it any action or proceeding is cou�menc�ed which materialla- affects Lender 'c interest in the Prop -
<br /> erty, including, b�t nu� limited to, c:minrnt dowain . iu�ol � �• ur� . �•uda• �•nlur�•enu���t . ur :urau�e�nent. ur proceed -
<br /> in�s i�volving a bankrupt m• �ecedent , then Lender .t� Lend�• r '� optiun , u{ �un iioti�•r tu 2iurrower, rnav make such
<br /> rppesrancr.s, disburee sucL sume xnd take such actiou a� i. ni•�•���ear�� tu � ,rote�•t Leudcr's interest . inrluding, but,
<br /> not IimitAd tu, d � �burse�izent ut reasunak �lr attornry '- ie��� :inu ontr�• u�wi � th� Yro{ �rrty t.0 ivake repairs. Any
<br /> amounta dixburseci by Lender pursuant w thi� }�aragra}�li i . ��� �tl� interent therem� , skiall become additional indebt-
<br /> edaes� ot Borrower secured by this \longage. Unles+ F3orrow�-r snd Lender agree to other ter�ue of payment, such
<br /> amounte shall be payable u�wn nutice from Lender tu IiorroN rr reyuestiug { �aymeut tLereof , and ,hall bear inter-
<br /> e�t. from the date of disLursement at the ratc stated in the \ote uuless payinent of interest ut �uch rete would be
<br /> eoatrary to applicable law , in whicli e�•rnt ,ucl , a�uouut, ,hxll bear intere�� uc the highent ratc permissible by
<br /> spPlicable law . \ othing c•ontsiu��i in thS � � �aragrat�l � 7 .linll rcquin� Lender io � ncur any expense or do any act
<br /> hee�eunder.
<br /> �. Io�etias. I.ender ivat' uiake or �•xu,=r tu Li� �ua� lo r��x.uuxhlr ��nrr�r, upun snd 1n.prrtion� of thr Prop-
<br /> erty, Pruvided that Lender rhall gi�•e Borrower noTi�•o � �rior ru unc .w li in�� �rrtiou •� �ecilyinR reaeonahle caure
<br /> tLerefui' ieiyttxi w Leixier e iiitrreet iii t iir YroE�eri� .
<br /> !. Cesd�msalien. The proceeda of vny awar.l ur �� Inii� i iur � in� uages, �irect ur omi�eyueutial , in co:�nection
<br /> with rny condeninatiun or other taking of the Yro��rrt } . ur � ,art tlu•reoL ur for �•ouve��anre in lieu ot condemna-
<br /> tion, rre hereLy ne>eigti�d a»�I aLull Le Naicj 1� I.eii�ler.
<br /> In the event of a total talcing uf tt�r YruExrty , tL.� � �r.x•riri� .�linll I �r u� iE�lir� l tu tli<- ,wns sei•ureii b�- this Vlort - �
<br /> gY=e, with the excess, if an}• , paid ro Borro�� er. In thc� rvent oi a � �urtixt taking of the YroE�rrty , unlees Bormwer � ,• ,�
<br /> and Leader othenvise agree in wriwng, there slixll be a����lted tu t he �wus �<•ured by thir �lortqage such propor- t",'
<br /> � tiea of the prooeeds ss ie equal to that proportion wl�ich the 3n�ount o1 the �wns ,ecured by� this \iortgagc• imme- x ,
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<br /> diately prior to the date of taking bears to the fair mnrket value of tLr Yropertp immediately prior to the date of ,�' a
<br /> t�al['�, with tie bslapce ai the prooeeds �id to Borrower.
<br /> tf t�1e �eaperty ie abandoewi by Borrower or if xfter uouce liy L,rnder co Borrower that, the condemnor offers
<br /> to oalee m avaer! or eettle a cla„n for cixmzgee , t3orrower fail�: to respmid to Lender �sitl�in 30 days of ihe date
<br /> of w�oh i�t�ee, I.en�ier �s :uttu�nted to coltect atnil sp� �ly the ��roceeda at l ,ender't opt �on iithrr to retitorat.ion or =
<br /> t�ir of the Prop�srty � to the eums eeeured by this \lortgage .
<br /> Uale�e Lender und Sorrow�er othetwiae agtee in writing, any such application of proceeda to E�rincipal shall
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