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<br /> If under Pacagraph 18 hereof the Yranerty is sold or tMe Yro��erGy is ot.her�c•ise acquired lay 7.ender, Lender
<br /> &hull uppty, no later tlran immediately f�rior Eo t;he salc of tlie Pro@erty oc itc ucryuis"ttiaii t�y I,cr�der, a�iy Fumds
<br /> hel'd by Lender nt the time of a�+jilication as a credtt againsC tlic suin� se�i:r��d tn• tliis i�Iart�aga
<br /> 3. Applieatiqn o4 Rayxraeais. Vnless ti�)�lI1RIIF�IC lan• provides oCherwice, nll pay�rrents received by I.ender
<br /> under the Note nnd paragraphs l and 2 heceof sl�nli 1�c ap�iTie(i I�y Leneler first in �ay�nen,t of amonnr.s pngu6le to
<br /> Lender by Borrowes under �rsrnAraph 2 liereof, tlien to interest i+:tiy^nUle on tlie Note anil on Future Advances, "rF
<br /> any, ssnd tl�en to the principa] uf the Notc and to ttie princiir�tl uf I�uture Advanr.es, if any.
<br /> r 4. Gharges; Liena. Borrower.shall nay all tuxea, assessment.� and otiher chnrges, fines and imposiGians ettrib-
<br /> { utable to the Prqperty which may attain a priority over itius Vlortga�e, and ground cents, if any, at Lender's.
<br /> option in the manner provided under paragrsph 2 hereo£ -or :�y Bonrower ciiaking payment, when due, direcEly tu
<br /> M the payee thereof. Borrower Phall prom�tly furnisl� to I:endcr all nut,ices of an�ounts due under this paragraph,
<br /> ,� and in the event Borroc!ver ahsll make �syment ciirectly, $orroa�er sMall pronr�tly furnish tio J.et�der receipf,s evi-
<br /> � dencing euch puvments. Borrower shsll promptly diseliarbe any 1'ten whieh hus priority over this �lartg3ge ; pso-
<br /> � yided, that Borrower ahall not Ue required to discharge any sucl� lien so long �;s T3�rrower siosti a�ree in writiing to
<br /> � t6� psyment qf the obligatiqn secured t�y such lien in a �nanner r�cceptu�le to Lender, or �laall in gooci faith contest
<br /> � such lien by, or �iefend enforeement of suali lien in , legal proceeeiings whicl� ��erate to Fr.revent the enf.occe�ent of
<br /> the lien br forfeibure of the Property or any p�art thereof.
<br /> � 5. Hazard Insur�ce. Burrower shall lceep thc improweme�rts na«• existin� or ]tereotter erecked on the Prop-
<br /> DO erty insured against loas by fire, hazards included within the term "exCended co�reragc", and aucli other hazards �s
<br /> � Lender may require and im such nmounis $nd for auc4� ��eriods as Lender m:3y reryuire ; }�rovidecl , khat TZender shall
<br /> not require thst the xrnount of saoh coverage exceed t.hst arnount ot covera�e reqnired to xiay the aums secuzed 'by
<br /> this Mortg9ge_
<br /> The insuraoce earr4er providing Lhe insurunce sha;ll k�e el5osen �y Iiorrower subject to appcaval by I.ehder ;
<br /> provided, tYiut sucl� approval shsll noC be unreasonably with}xeld. All premiums on insurance �olicies shall be psid
<br /> ' at Lenrler's option in the rnsnner provideil under iraragrapl� 2 liereut �r hy 13orrawer making puymenE, when due,
<br /> ' directly to the insurance carrier.
<br /> In the event any pulicy is not renewed on or before ten days pf itg expiratiqn, the Lender, to protiect
<br /> its interest, may procure in4urance on the improvements, pay the premi-ums and suek� sum shaIl 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 IvIortgage. Fuilure by Borrower to comply may, at option of 7.ender, constitute a default
<br /> under the terms of fhis Mortgage_
<br /> All insuranee polioies: and renewals thereof shnll be in form acce�cable Co Lend�r and Shal l include a stsndard
<br /> mortgage Clause in Cavor of und in iqrm acee��table Co Letider. Lenu+cr shall 2�awe tl�e right to Ixold the policies sn�i
<br /> renewals thereof, and Borrower shull �romptly furnish to Lender all re�re�vul notices and all reeeipts of paid pre-
<br /> ? � mivms. Tn the event of loss, Botro�ver chHU give �>rom��t notice to ihe iRsurance cArr�¢n snd Lei�cier, and Lender t
<br /> ° msy mske proof of lass 'rf noG msde promptly by Boreower. ;
<br /> � Unlees Lendar and $orroweX otherwise agree in cvriting, insurance �itoceeds shsll be npplied tn restoration ar
<br /> ; repair of the ProperCy damaged, provided such restoration or re�air is economicully fensible and the security of
<br /> ! this 1�^lortgage is riot thereby inipaired. If suah resCorntion or re�rnir is noC ecor�amir,n] 'ly feasil�le �r �f the secUrity
<br /> of this �4ortgage would be impaired, the insuranue ��roceeds siinll 1�e upplied t�� the sums secured �y this iv[artgage,
<br /> � with the excess, if sny, paid to Burrower. If the YroF�erty is aban��ned by Borro�ver or it Borrower fails to res�and
<br /> to Lender within 3Q days after natice by Zen+�er tu Borrower tl�nt t;he insurance carrier offers to settle a clsim for
<br /> ineurance benefits, Lender is suthorized #o r.ollect anci �pply- thc insurance procceels at Lender's o�tion either to
<br /> � reatorstion or repair of the Property ar to the sums secured .t�y tliis illortgage. ,
<br /> Unless Lender and Borrower othenvise agree in writing, any such npplication of proceeds to principal shal] `
<br /> ` � not extend or postpone the due date of the monthly �nstallments referred to in paragraphs 1 and 2 hereof or change ± ' ,
<br /> the amount of such installments. ,
<br /> � , If under paragraph 18 hereoF the Yroperty is acquired by Lender, nll right, title snd interest of Borrower in t` T,J
<br /> and to any insurance policies and in and to the proceeds tt�ereof (to tl�e extent of the sums secured by this Mort-
<br /> gage immediately prior to such sale or ucquisition) resulting irom damage t.o the Property prior to the sale or
<br /> - � acquieition shall pass to Lender.
<br /> � 6. Preservation �d Mmaten�see of Property; Leeseholda; Coadomiaiums. Borrower shall keep the Prop-
<br /> erty in good repair and ahall not permit or commit waste, impairment, or deterioration of the Property and shall
<br /> { " comply with the provisions of any lease, if this �lortgage is on a leasehold. If this Vlortgage is on a condominium
<br /> j' unit, Borrower shall perform all of Borrower's obligations under the declaration of condominium or master deed ,
<br /> the by-laws and regulations of the condominium project and constituent documents.
<br /> j 7. Protection 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 commenced �vhich materially affects Lender's interest in the Prop-
<br /> � erty, including, but not limited to, eminent domain , insolrency, code enforcement, or arrangements or proceed-
<br /> inge involving s bankrupt or decedent, then Lender at I,ender's option, upon notice to Borrower, may make such
<br /> � , appearances, disburse such sums and take such action ns is necessary to protect Lender's interest, including, but
<br /> not limited to, diabursement o[ reasonable attorney's fees and entry upon the Property to rnake repairs. Any
<br /> � amounts diabursed by Lender pursuant to this puragrsph 7, �vith interest thereon, shall become additional indebt-
<br /> � edneae of Borrower secured by this �iortgage. Unless Borrower and I,ender agree to other terms of payment, auch
<br /> ; amounte ahall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear inter-
<br /> i 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 applicable lsw, in which event such amounts shsll Uear interest at the highest ra;te permissible by
<br /> . � r
<br /> applicable law_ Nothing contained in tl�is paragraph 7 shnil require I,ender to incur any expense or do any act
<br /> , hereunder.
<br /> �� 8- 'Iaspectioa. Lender may make or cause to lie madc reasonablc entries upon and inspections of the Prop-
<br /> ertq, provided that Lender shsll give Borrower notice prior to nny cuch inspection cpecifying reasonable cause
<br /> '� therefor related to Lender's interest in the Property.
<br /> S4. Condemaatiom The proceeds of uny uward or claim for damuges, direct or consequential, in connection
<br /> • with sny Gondemnation ,or other taking of the Property, or psrt thereof, or for conveysnce in lieu of condemna-
<br /> '� tion, are hereby assigned and shall be paid to Lender.
<br /> In the event of a total taking of the Property, the proceeds shall Ue applied to the sums secured by this Mort- �- �'
<br /> gage,. �vith the excess, if any, psid to Borrower. In t.he event of u partisl tisking of the Property, unless Borrower r. '
<br /> and Lender otheravise agree in writing, there sl�all be spplied to tl�e sums secured by this :�Iortgage such propor- � '��" �
<br /> tion of the proceeds as is equsl to that proportion which the amount of the sums aecured by this \4ortgsge imme- � 4;;. ,=
<br /> diately pnor�to the date of taking bears tothe fairavarket value of tlie Property iinmediately prior to the dste of
<br /> talung, with the� balanee of the proceeds paid to Borrower. �; �
<br /> (� I � If the:Propertg;is abandoned by Botrower or it after notice by Lender to Borrower that the candemnor offers a ' �'�
<br /> y� to mske'an'awsrd or settle a claimSor damages, Borrower fails to respond to Lender within 3 0 days of the date � " ";� "-
<br /> x of eueh;noEice; Lender is suthorized to collect snd apply the proeeeds at Lender's option either to restoration ar
<br /> ;, repair of the Propeety or tio bhe swns aecured- by tliis \tort�age_
<br /> . � Unlese Lender;and Bori�ower othenvise agree in tvriting, any sucb application of proceeda to principal shall
<br /> �
<br /> ; �'....d �,J �
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