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<br /> If under paragrspii 18 hereof tl�c k'ro� �erey i� �old ur tho I'ropert �� is ocher•v. ise a�•quirc� l b�� L�� nder. Lender
<br /> ahall spplY , no later than itnmedlately prior to thc .uli• ui lho Yro� u�rfy iir it, uc�{ui.ition Ly l .i•n� ier, :u�y F'un�i�
<br /> held by Lender at� the time of ap� � lication a, a rredit �guin ��i tlii� �uu» .�ec •ur�•� I h�� tlii.� 11ur�qsgo .
<br /> O 3. Appliaation ot Payaf�ntc. Llnles. xpplicabl�� Iti« providrs othe. rwi.c, :ill � �xyiiienfr re�•eiv��d by I.ender
<br /> O7 under the Note and paragrapl�s 1 and 2 hereot shall Lc ap}�lied I,�• l .cn� i�v tir,t in pay�nc•nt of uuiaunts pa,yablr, to
<br /> Il� Lender by Borrower under ��aragraph 2 l�ereof, theu to interest. � �a}•ublr ou tlic 1�ote su. i on Futum Advances, if
<br /> I�- any, and then to the principal of the \oti� and to tli�� � irinaipal ui Future� Ailvancec , if' any.
<br /> � O 4. Clwry�a: Liaus. Borrower sl�all pay all ta�ces , assessments xnd other charges , fines and impositions attrib-
<br /> � utfbJe to the Property which may attain u priority over thiE '.liortgxge, arid ground reuts , if any , at Lender'e
<br /> option in the tnanner provided under paragra��h 'l I�ereof or I �y Borruwer makin�; pe,Vment, �ahen due , directly to
<br /> the psyce thereof. Borrower shalt prompUy furnieL to I.ender sll uotices nt auiounts due under this paragraph ,
<br /> aad in the event Borrower eliall it�ake pxYnient directlV , SorroH•er ,f �all promptly furni� h ro Lender receipts evi -
<br /> dencing such payments. Borrower shall proni� iUy discliarge suy lien which has i �rioi•ity over ttiie \Iorlgage ; pro-
<br /> vided, that Borrower shall not be required to discl�lirge any such liun no loug u� liorrower .hall agree in writing to
<br /> t6e payment of the obligation secured by nuch lien in u msnner uccepta� ble t,o I,ender, or shall in good faitlt contest
<br /> suoh lien by, or defend enforcement of such lien in , �egal � �roce�>dings w6icli o�ierste to � , re��ent the enforcement of
<br /> the lien or forfeiture of the Yroperty or anp � �art tl �ereof.
<br /> 5. Hasard Iasuranc�. Borrower �hsll kee� � tl �c im � �roaements no�e �xisting or liercafter erected on the Prop-
<br /> erty insured againat loss by fire, hszards included within the term "exteuded coverage " , and sucdi ot6er huzards as
<br /> I.eader tnay require and in such an�ount � ana for ,uch period� :is Le>>der � uuc recauire : provided , that I.ender shall
<br /> not require tl�at the amount of such coveragr exceed thut awount of oovrritge myuired tu pay the sums secured 'by
<br /> this Mortgage.
<br /> The insurance carrier � �roviding the imuraueu sl�all bc rhosen b}• F3urro�� cr sul ,ject to upprova ! by Lender ;
<br /> provided , that �uch approval ehall noc be i�ureasouabh� witlilield . All premiums on insurance policies zl�all be paid
<br /> at Lender's optia� in the tna�iuer � �rovidrd uuder � �arugra� ili '. hereoi or } �y Borro�cer muking pay'roent, when due,
<br /> direcNy to the insurance carrier.
<br /> In the event aay policy is not renewed on or before ten days of its expiration, the Lender, to protect
<br /> it� interest, may procure insurance on the improvements, pay the premiurns and such sum shall become
<br /> immediately due and payable with interest at the rate xet forth in Faid note until paid and �;hall be
<br /> aecured by thie Mortgage. Failure by Borrower to comply may, at option of Lender, conEtitute a default
<br /> under the terme of thie Mortgage.
<br /> All insurance policies and renrwal� thc•reol nl �all hi• in ionu :«���•��tahlr to I,onder aml .hnll include a standard
<br /> �nortgage clause in favor of and in forni a�•ce� �tnhle to l ,en�ter l .r��rler �I�all ht�ve 1he right to liold the policies and
<br /> renewals thereof, and Borrower �hall promptly furnish to Lendcr al ! renewul notice� an<i �II receiptn o! paid pre-
<br /> miume. In the e��ent of loss , Borrower sliall gi��t• �,rompc notice cu th�� insurance currier and Lender , and I.ender
<br /> mry make proof of loss ii not rngde promptly I�y Borrower.
<br /> Unlees I.ender $nd Borrower ot6erµ� ise sKree in �+�riting , inrurance � � ruceeJs shsll be upplied to restoration or
<br /> repair of' the Pruperty damaged , � �ro�•ide.l such restorutiou ur rrfiuir i� c•��ononiicull�� f'eusible and the security of
<br /> this Mortgege is not thereby impaired. Ii ,u�• h restor;Niou m� re� �air i� not econumically feasibie or if the security
<br /> of this �lortgage would be impaired , tl�e insurancr E �roceeds ,I � ;�il I �i� sppli �rd to the suiii, secured by this bfortgage,
<br /> with the ezcess, if any , paid to Bon�ower. 1f the Yropertp S5 uban�lunr� l hy Borro�a i�r or i [ Borrower fails to respond
<br /> to Leadet within 30 days atter notice by I .ender tu Borrower cl�ut th�• in� urance �•arrier ofl'ern to settle a claitn for
<br /> insuraace f�nefits, l .ender is suthorized to collect sn�i apE�ly thr insur�acice ��roceeds at I,ender's optiun either to
<br /> restoration or repair of the Property w to the swus secure� b�• tliih \ lortgage.
<br /> Unleee Lender and Aorroµ�er otherµ iae ugrer in «•riting, anp such :1�)�IIIPIICIOII ui proceeds to principal shall
<br /> not extend or postpone the due date of tkie montLly iuntalln �rut. referred t o iu {,ar$graph� 1 and 3 }iereof or change
<br /> the amount of auch inetallment�.
<br /> If under paragreph 18 hereof the Yropertv is acquired bp l.ender, :ill right , title etnd interest of Borrower in
<br /> and to 8ny innuranee � wlicies und �n an�i to tl �e proceeds tl �ereof � ta t1u• exc��nt ui the .un�s secured hy tl�is ?1Sort-
<br /> {�a�e immediuY.ely prior to auch sslr or acquiaition i rerultin�; fruin � 1am :tKe tu tLr 2'ro��ert}' prior to the sale ot
<br /> acquisition shall pase to Lender.
<br /> R P�'�e+ation emd Mmnt�om+ee of Prop�rty: Lsas�holda; Condoa+iniumc. 13orrow�er shall keep the Prop-
<br /> erty in g<wd repair and shall twt { �ermit or �•onuiiit waste, impairtucnt , ur detcrioratiou uf the Yroperty and shsll
<br /> camply with the pro�-isions of un�� lease , if this \lortgage » un s lc+asi>hal �i . If this Jtortgage i� on x condominium
<br /> unit, Borrower shall perforro a11 of Borrower . obligatiou. und�•r TL�� �.leclarution oP conaominium ur master deed ,
<br /> the by-laws and regulation� uf the condoiniuiinu � �ro� ��ci and �•oustiwcnt documrnts.
<br /> 7. Ybeteetion oI Iwnd�r's S�curity. 1f fiorrower lail � tu � �eriorin the covenauts und atiree�nrnts contained in
<br /> t6is '�iortgsge, or if any action or proceeding is coiuuien.•ed whi�•1 � wateriylly afiect� Lunder's interest in the Prop-
<br /> erty, including, but nuc limiteri to , e�ninent dou �aiu , iu�ul � �•ue�� , code eciforec�urnt , or urruugemrntr ur proceed-
<br /> in�e involving a bankrupt or decedent , then Leu�ler at Lendrr '� opt �on , upou uoticc tu 13urrower , may make such
<br /> appeare:icrs, disbur�r nucli �utu, an�l take �u��h :u•tion x, i - ni-� r�.nr� tu pruterr Lru� irr '� interest , including, but.
<br /> not limited to, d�ebursement of ressonable attorney 'r I'ee.< �nJ e•ntr�� u��un th� Yroperty� to make repairs . Any
<br /> amounW dieburscri by Lender {�ursuant to this parugraph 7 , o itl� interest thercon , shall t�coroe additional indebt-
<br /> edaese of Borrower hecured by this \lortgage. Ilnless }iorrower snil I .euder agree to other terms of payment , such
<br /> amounts shall be payable upon notice from I.ender to BorroH er reyuesting payinent thereof, and shalt bear inter-
<br /> est from ttie date �f dieburseinent at thr rate �tute�i iu the A�te uuless p:s��m�nt ot intereet at such rate would be
<br /> contnry to applicable Iaw , in which e�•ent such atnoimt� shall hear interest at the highest rate permiesible by
<br /> applicsGle law• . Nothing i+ontaincKi in thi� ��aragrapli i s6all rer� uirc Lcnder to iucur an �� eapense or do any act
<br /> hu+eunder.
<br /> f. L�elim. Lender may make or cau�e to !x• ma� i �• r�•aco:iahl�• .• ntrier upun an�i inapections of the Prop-
<br /> eriy > }�r�vidcxi ti�xl LrtlUei nLxll �i� r Hurrower uuu� i• � �riur � u auc ,u� i � iu..� �rouuu ..� ircll \'llt�; rrnsunai�lr cau.e
<br /> fk�refor related tci Lender'e interest in tl�e Yro��rrt�' .
<br /> !. C�eed�esatiea. The proeeede of uny awanl or �•Isirn Cor darnsges, direct o� consequentisl , in connection
<br /> with any cwuiuuuwtiuu or ueher cxkiug ul t6r Yiv�x�rty , �r � �art t lierru( , ur Iur i�uu � i•,ynncr in liru uf cun�lemnx- .
<br /> tion, are hereby assigned and shall Ix� paid to Leuder .
<br /> Itf the event of a rotat taking of the Yruperty , the ��rocred . .liall l �e sl�plied to the aurns secured by thiE '�1ort- �• �
<br /> �ye, with the exce� , i[ any , paid to Bortower. Li the rve:�t of a ��artial taking of �he Yroperty , unless Borrower �^"' � ' • a'
<br /> L aed Le�derotl�er+vise a¢ree in wrHing, there �zhall be ap�>l �ed ro tli� suuis secured bp this \lortgage �uch propor- '
<br /> tioa of the praoeeds as ie equal to that proportion whicl� t.lie amount of the eun� riecured by this liortgage imme- � ^��
<br /> d'ulely prior to the dste of takiug bears to tl�e fair inarket ��alue of tlie Yro}�eny iminedisLeh• prior to the date of °
<br /> 'GaJ[io�, with ti�e balaace of Lhe proaeeds paid tu Borrower. '� '
<br /> !f IYe Yta4w��Cy is abandorsed by 4iorrower or �ti aiter not �ce hy lxnder to Horrower t ►iat the condervnor offers
<br /> te mdee an s�r�ed or eiettle x elum ior dxmages, korrower tails [ o respond to l.ender w�tlnn 3U days ot the date
<br /> ot wtdf wotioe, I.ender ic authorised to coilect e»ei spply ttje proceeris at l,ender '� optiun eithrr tu re�toration or "`
<br /> r�p�ir ef tdfe Pr�pe�t,y or to the �ums secured by tLis \ tongage.
<br /> CTnlee: Lender and Borron•er othcrn�isc �rcc ir. 1��ritiug, any- sucl� spplicutioi: of procc�l� tu E:rii,� i�,u: �LaL'
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