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<br /> If under Psragraph 18 herenf the Property is sold ur the I?rqperty is cath¢nvise achuired trro� I:ender, Lender
<br /> shs11 tsppiy, no ]ater tlr+sn immediately nrior to kl�e salc uf C:lie Prpj,erty or its atrryuisiti�n by Lc�icicr, ryny Fun�e
<br /> held by Lender at the time of aprlicatian as a creilit against the srrms secure�i hy this Vlort�atie.
<br /> 3. Applieation of Paymenta Unless npplicahlc la�c ��rovides othern•isc, itill �aymentr, received by Lender
<br /> under the '_�Tote und paragraPlis T and '2 hereo.t sliall bc ��� �lied by I.ender first in paymeni uF amount� payable to
<br /> Lender by Borcower under paragrapL 2 1'.�ereof, Che�i to int�rest payabl¢ on tl�c NoCe nncl on Future :Ldvances, it
<br /> any, and then to the grancipa! of t.he i�ToLe and to tlie ��rinciPal o[ FuCuce Advat�ees, if nny. �k
<br /> 4. Claarges; :I.iens. Borrowersliall pay ulLtuxes, sesess►nents and athar charges, fines and impoaitions attrib- fi �
<br /> �; utsble :to the Property which may nttain u priority over bhic �or'tgage, and ground rents, if ssny, at Lender's
<br /> Fy option 'in Lhe manner provided under paaagraph 2 hereof or l�y Borrowe.r making P�.y�zrenE, when due, direcbly to "�:'
<br /> G'�j the payee Ehereof. Borrower ahstb promptly furnisli to Lencler nll notices of umoimts duc c�n�ier t}zis paragraph, -
<br /> � ej and in the event Borsower shaq make payment d-irectly, Bosroa'c:r slisll promptly furnish f.o Lender receiptt3 evi-
<br /> ; G1t denoing such pa.y.ments: Iiorrower shall Promptly �isclisr�{e any lien vvhich hsa ��riority nver this tlortgaKe ; pro-
<br /> Q vided, that Borrower shall not be required to disclrnrge anY svch bien sa long as Borrower shutl agreze in writing to
<br /> Q the payment of Che obligation secured by such lien in :i inenner acceptable to 7.rnde,r, or �hall in good faith contest
<br /> f auch lien by, or defend enforcement of sucli lien in, legal proaeeding� �vltich operate to j�revent the enforcement of
<br /> e � 0�0 the lien or forfeiture of the 15ropertq or .any ��art thereof.
<br /> 5. FIazard Iasur�ce. Borrow•er shall l�eep tlre i�nprovements now exisCing or hereafter erectied on the Frop-
<br /> erty insused against loss by fire, hazards included �vithin Che berm "extended eovecage ", nnd such other h�znrds .0
<br /> Lender may require a'nd in c,i�ch amounts and for such periocls as Leneler may re.quire ; j�rovideci, that Lender shaU
<br /> noE require that Che amount of such coversge exeeed fliat axnountt of co�^erage ,reyuired to pay the sutns secured 'bV
<br /> Ghis Mortgags.
<br /> The insurance carrier pxaviding tlie insurat�ee sl�aIl be etiasen by- Borrow��r suhject to approval by Lender ;
<br /> provided, that such upproval shall not k>e unreasonably �vithheld. All premiums on insurence policies si�sll 6e paid
<br /> at Lender's option in the manner providecl under paragra��l� 2 hereof or by Borrower n�aking Fayment, whe.n @ue,
<br /> directly to the insurance carrier.
<br /> � In the event any policy is not renewed, an oz before ten days of its expiration, the Lender, to protect
<br /> its interest, may procnre insurance on the irnprovements, 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. Fai'lure by Borruwer to comply may, at option of I.ender, constitute a defau]t •n�'
<br /> under the berms of this MorGgage.
<br /> All insurance policies and renesvals thereof shall i�e in farnz a-cce�txble Go T.eaider anii shatl include a stnnda�d
<br /> mortgage clsuse in Lavcyr qf and izr tarm acceptitbie tv Lender. I.encier shall have the rigl�t ta liold the p�lici�c and � ''�
<br /> renewals thereof, snd B.orrowe.r shall }�rornptly furnish to Lender all renewal :�oiices anc� all receipts oE paid pre-
<br /> ' miums. Tn the event of losa, Borr�a•er sha11 give j�rompt notice to the ins-urance currier and Lender and Lender ` ��
<br /> � �.
<br /> msy ,make proof of loss 4f not made pro�nptly i�y Borrowec. + , ;
<br /> Uuless Lender an�i' Borruwer otherwise ageee in writing, iiv,uranc� proceeds shail be applied ta restvration or I '
<br /> repair af the Froperty dalnaged, pru��ided such restora�tion or repair is economi�ally feasibte and tlte 5ecurity' of s ��
<br /> this Mortgage is not theteby impaired, If such restoration or re{�air is not economicnlly feasiblc or if the securiLy
<br /> of thie �foxtgage would be impaired, til�e insurance ��roeeeds sliall be applie�l to il�e sutns secured by Lhis :tiostgage, �
<br /> with the excess, if any, pnid to Borsower. If the Property is abandoned by Borracver ur if Borrower fails to nespond ' `'
<br /> to Lender �within 3Q days sfter x�otice by Lender to Borrow•er C.ht�t the insurance ca-rrier offers to seCt]e a claim for , ?:'_
<br /> y insurance benefits, Lender is �,uChorized to colleek. und ap}�ly the insurance proceeds at Lender's option eiCher to [
<br /> 'f restaratioa or repsir of the Property or Lo the sums secured by this \Z�ttgage. � ,,:
<br /> ' � .f Unless Lender and Borrower otherwise agree in �vriting, any such application cif proceeds to prineipai shall � ` -
<br /> ; .� not extend or postpone the due date of the monthly installments referred to in pnragraphs 1 and 2 hereof or change " � '�
<br /> the amount of such installments. f
<br /> � If under paragraph 18 hereof the Property is �acquired by Lender, all right, title and interest of Borrower in a ' � 'r
<br /> and to any insuraace policies and in snd to the proceeds thereof ( to tlie extent of the sums secured by this �Iort- '
<br /> � gage immediately prior to such sale or acquisition) resulting from damage to the Property prior to the sale or
<br /> ' acquiaition shall paes to Lender.
<br /> � 6. Prsservatioa �d Mmatea�ce of Property; Leaseholds; Coadomiaiums. Borrower shall keep the Prop-
<br /> ; erty in good repair and shall not percnit or commit waste, impairment, or deterioration of the Property and ehall
<br /> Y comply with the provisions of ssny lense, if this �iortgage is on a leasehold. If this Mortgoge is on a condominium
<br /> � unit, Borrower shall perform all of Borrower's obligations under the declaration of condominium or master deed,
<br /> the by-lsws and regulations of the condominium project and constituent documents.
<br /> 7. Proteetioa of Lender s Security. If Borrower fails to perform the covenants and agreements contained in
<br /> `� this Mortgage, or if any action or proceeding is cornmenced �vhich materially affects Lender's interest in the Prop-
<br /> � erty, including, but not limited to, eminent domain , insotvency, code en(orcement, or nrrangements or proceed-
<br /> inge involving a bankrupt or decedent, then Lender at I.ender's option , upon notice to Borrocver, msy make such
<br /> appearancea, disburae sucli sums and take such action as is necessary to protect Lender's interest, including, but
<br /> � not limited to, disburaement of reasonable attorney's fees and entry upon the Property to make repairs. Any
<br /> amounts disbursed by Lender pursuant to this parsgrapl� 7, �vitli interest thereon, shall become udditional indebt-
<br /> , � ednese of Bonower secured by this �fortgage. Unless Borrower und Lender agree to other terms of payment, such
<br /> amounte shall be psyable upon notice fron� Lender to Borrower requesti�g payment thereof, and shall bear inter-
<br /> ;,,� est from the date of diabursement at the rate stated in the Note unless payment of interest at such rate would be
<br /> „ � contrary to applicsble law, in which event such amounts shall bear interest at the highest rate permissible by
<br /> spplicable law. Nothing contained in this paragcaph 7 shnll require Lender to incur any expense or do any act
<br /> hereunden
<br /> ` � B. . Inspection. Lender may mske or enuse to be insdc reasonablc entries upon and inspections of the Prop-
<br /> , ,� erty, provided that Lender shall give Borrower notice ��ria• to nnp �uch in�pection Gpecifying reasonable cause � !
<br /> � therefor related to Lender's interest in the Property.
<br /> 9. Coademaatioa. The proceeds of any a�c•sid or claim for damsges, direct or conseyuential, in connection
<br /> '-. i with any condemnation or other taking of the Property, or part tl�ereof, or for con�•eyance in lieu ot condemna-
<br /> ��.
<br /> tion, are hereby assigned and ahall be paid to Lender. {
<br /> In the event of a total taking of the Property, the procceds sliall be npplied to the sums secured by this Mart- w ��:;
<br /> ', gage, with the excess, if any, paid to Borrower. In the event of a partisl taking of the Property, unIeas Borrower
<br /> ' ' snd .Lender otherwise agree in writing, there'sl�all be applied to the suma secured by this �Iortgage such propor- r '
<br /> � tion of tY�e proceeds as is equal to that proportion which the amount of the sums secured by this Mortgage imme- I �} t'
<br /> : d�ately prior to tbe date of taking beare to tlie fair market value of the Property immediately prior to the date of , ,
<br /> � t�lvng, w'tETi theba3ance of-the proceeds pAid to Borrower.
<br /> h= If t3ie'�rpperty is" 'abandoned bq Borrower qr ii after notice by Lender to Borrower that the condemnor offers ��.:�.
<br /> t,oamake .sa awai�d-`or settle s clsim 'far dsrna es ' Borrower fails to res '�'' ' '
<br /> B , pond to Lender within 30 days of the date
<br /> >:
<br /> � of auch-aoGace,; �;eader ie authorized to coliect and ap�sly the proceeds st I.ender's option either to restoration or "'"�� '`�` "
<br /> _># repsir of .the Properf,y or to`the sums secured by tt�is \tortgage. `:
<br /> �, ,.; Unless Lender and Borrower.,othernis+e agree in writing, any such spplication of proceeda to principal •shall
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