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<br /> Tf under nat'ugraph 18 hereof the 1'ra��crty is rolc( or tf�e Yropert,y is ottierwise ace�uired by I.eaieler, LPnder
<br /> ahall apply, no later tl�un in�medsately pri�r to thc �ulc of tlyr Yroperty ur its acq�iisition 1��� I,ex��er, �iny Funds
<br /> held 6y Lender at the #ime of npPlication as n creclit against tlic sa�r�s Securc+�i f>c• tihis �Lurtgage.
<br /> 3. Application o[ payments. Unles= npPlicBble In��� provacics othrnvic�, nll pttyments rr.ceiver3 by Lenri�r
<br /> under the Note and pxraqrapl�s 1 ond 2 liereof sLall 1>c a����lieci la,y I,eudcr first in r,iayn�ent uf umounts pnyaLle to
<br /> Leneier by Borrower under naragrnpl� 2 liereof, tlieii tn interc:st ��atyaY�le un tl�c Notr� Anri on Future Adcances, if
<br /> sny, and then to th� I�rincipa! o[ the I�ToGc anci ta thc� princi���l of L'uture A� vances, if �,ny.
<br /> r 4. Chargea; Liens. �3b�Qjver shall pny all taxes, nssessinents and c�ther r.har�es, fines an(i imPositiona attrib-
<br /> y� ut�ble t� the Property whioh mtsy attain a priorit}• over t1,is :l�oct�aRe, and groun� reut9 , if any, at Lender's
<br /> � optipn in tfie manner nrovidezi u,nder psaragra�h 2 l;ereaf or by� Borrotver inmkin� payane,nt, when ciue, directly ho �
<br /> � the payee thereof, Boanower sIral.l promptly furnisl� to J.ecider all no.ti.ces of umounts due tinder this paragr. .aph,
<br /> �, and in the event Borrowex ahall makc: Paynnr,nt clirect.Iy, 33orro«cr �I�uli i�roanptly furnish to (,r,nder receipts evi-
<br /> � dencing sucli pnyments. $orrowe-r shall promptly diccliarge any lien �vhich has priority �ver this ��ortgage ; pro-
<br /> � vided, that Borrower shall nat be requirred to discl�Rrge uny sui�li lien so long sss liorrower slrall stgrce in writing to
<br /> the payment of the obl"agution seeured by suot� Iien in u manner aecentr�Ule to Zender, nr sl�all in good faith contest
<br /> � such lien by, or defend enforcemPrrt of such lien in, legsl ��roeeedinqs whirh nperaLe to Xyrerent the entozcement of
<br /> � the ]ien or forfeiture of tihe Property or nny ��arC tt:�ereof.
<br /> 5. Hazeizd 7nsuramce: Borra�ver shmlt keeP tl�.c iinprovem�nts �io�v e.xisiir�g ar lieren£ter erected on the Prop-
<br /> erty insured sgsir�st toss by fire, httzards in¢Iuded wiLh3n t6e tPrm "extea�ded covezage", and awcli other hazards as
<br /> I,ender may require and in s-uch ntnouxif ; xnd far sucli per'sods us Lerider mny rc.quire ; �arovideci, tihat I.ender �hsll
<br /> not reqvise tih�t tiie amqunt of such eoverage excee�! tltat arnount �f caverage required tu xiny- the sums secured 'hy
<br /> this Mortgage. t
<br /> �'he insurance cssrriec praviding il�e insitrairce shall Ue chosen by E4orra•,�•er subject tn sppr��vai by Ixnder;
<br /> �roviderl, thuC such approvnl shall not Ge unreasona,bh- wi.thEield. AI! �remiums on insurnnce polioies shall be paid
<br /> st Lender's opt.ion in t.he mattner pravi�ie�l under �raragraph 2 hereoC or by Borro�ver msskirig paynrtent, K�hen due,
<br /> � direetly to the insur�nce corsier.
<br /> i In the event any poliey is noE ze�ewed on ox beEore ten d�ys of Sfs ez�iraCiun, !he T.ender, ko protec't ' �
<br /> its interest, may procure insurance an the imprpvernents, pa3+ the premiums an.d such sum Fhali becorne
<br /> immediately due and pa�able with interest at the rate set Forth in said aoCe untii paid and ahall be
<br /> secured by this Mortgage. Fa�lure by $�rrower to comply rnay, at option of Lender, constitute a ciefault
<br /> under the terms of this M�rt�age.
<br /> �111 ansurance pnlicies and renewals tl�ereof shull be it� fonn accrp�eat�le io 7.eniler nn�i slisll ihcltrde a stan�lard
<br /> �nortgage clsuse in favor of a�3c1 ir� forna sccep.table tc� Lencle�•. I,ender shral.l have tl�e rigiit to linld the �alicies �►nd
<br /> cenewals Ehereof, nnd Borrow�er shail }�romptly furnish to I,ender a11 renewal noticAs unc� �II receipts �f paid pre-
<br /> fiiums. In the event of lqss, 73orrower ghnll give {�rnmpt notira to tl�e insurax,� c� catrrier and Lendec, and I.ender
<br /> tnaq make proof of l;oss if not rnade promptly 1>y Barco�ver.
<br /> Unlesa Lehder and Bora�ower athcrcvise agree in tvritih�, insurat�ec proceeds :hall be applied t,o resCqraCion �r
<br /> repair of the Property damaged, p:rovided such restoraCian or repair is ceonomically- feusiUle and the secnrity of
<br /> ' this Viortgage is nqt thereWy i-m-paired. Ii sueh resLqra[ion oi• reFiair i= not e�+�nomically teasible ur if the secari,Cy
<br /> i of this 14tortgage wouId be impaired, the insura.nce ��roceeda sliall be aupliecf ta the sums secured by th-is Mortgage, �
<br /> with the exeess, if any, p.aid to Borrac��e.a•. Ii the Propert�• is uban.donec! F�y Bon•owei� nr if Borrower fmils to respond
<br /> to I,ender within 30 days after notice by I,ender to $c�rrower t}rat the insur�nce essrrier of3`ers to settle a ciaim far �
<br /> ' ineurance benefits, Lender is authorized to collect and apply the insurance proceeds at I,ender's option either to r $
<br /> ' i restoration or repair of the Property or to the sums secured by tliis \Iortgage. z
<br /> � Unless Lender and Borrower otherwise agree in �vriting, any such application of proceeds to principal ehs11
<br /> i not extend or postpone the due dnte of the monthly'installments referred to in paragraphs 1 and 2 hereof or change
<br /> - i the smount of such iastallments. i
<br /> � If under pa.ragraph 18 hereof the Property is acquired by Lendcr, sl] right, title and interest of Borrower in `
<br /> snd to any insuranee policies und in and to the proceeds thereoF (to the extent of the sums secured by this 1�Iort-
<br /> gage immediately prior to such sale or acquisition ) resulting from dainage to tl�e Property prior to the sale or
<br /> ! acquieition shall pass to Lenden
<br /> : 6. Preservation �d Mmatea�ce of Prop@zty; Leaseholds; Coadozninivais. Borrower shall keep the Prop-
<br /> i erty in good repair and shsll not permit or commit waste, impairment, or deterioration af the Property and ahall
<br /> i. comply with the provisions of uny lease, if this tiiortgage is an a leasehold. If this l�ortgage is on a condominium
<br /> � unit, Borrower shall perform all of Borrower's obligations under thc declaration of condominium or master deed,
<br /> 4 the by-lawa .and regulations of the condominium I�roject and constituent documents.
<br /> ' � 7. Pzotectioa of Lendez's Sacurity. It Borrower fails to perform the covenants and agreements contained in
<br /> �, this Mortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the Prop-
<br /> ; # erty, including, but not limited to, eminent domain, insoh�ency, code enforcement , or arrangements or proceed-
<br /> ings involving a bankrupt or decedent, then Lender at Lender's optim3, upon notice to Borro�ver, may make such
<br /> appearances, disburse such aums and take sucli action as is necessary to protect Lender's interest, including, but
<br /> � � not limited to, disbursement of reasonable uttorney's Fees and entry upon the Property to make repsirs. Any
<br /> � amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon , shall become additional indebt-
<br /> edness of Borrower secured by this �fortgage. Unless Borrower and I,ender agree to other terms of payment, such
<br /> � amounts ahall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear inter-
<br /> eet from the date of disbursement at the rate stated in the Note unless payment of interest at such rate would be
<br /> � contrary to applicable law, in which event such amounta shall bear interest at the highest rate permissible by
<br /> ' � applicable law. Nothing contained in this paragraph 7 shnll require I,ender to incur any expenae or do any act
<br /> ,� hereunder.
<br /> � 8• Iaspoefion. Lender may make or cause to bc madc ret�conable ent.ries upon and inspections of the Prop-
<br /> erty, provided thst Lender shall give Borrower noticc �.rior to nny such inspection �pecifying reasonable csuse
<br /> therefor related to Lender's interest in Lhe Property.
<br /> 9. Coademaation. The proceeds of any nwsrd or claim for damuges, direct or consequential, in connection
<br /> with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemna-
<br /> tion, are hereby assi�ed and shal] be paid to Lendea -^�_-":' �r
<br /> In tfle event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mort- j
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<br /> gsge, with the excess, if any, pgid to Borrower. In the event of a partial taking of the Property, unless Borrower � �r ' �
<br /> and Lender otherwise agree in writing, there sliall be applied to the aums secured by this A4ortgage such propor- ?� '
<br /> tion of the proceeds 'as is equsl to that proportion which tl�e amount of the sums secured by this Vfortgage imme- "
<br /> diately prior to the date of taking besrs to the fair market valae of the Property immediately prior to the date of � ?
<br /> _ taking, with,thebslance of the proceeds paid to Borrower. �•' � '-'+ t ;
<br /> Tf the Property is abandoned 'by Borrower or if nfter notice 6y Lender to Borm�ver that the condemnor offers K.' }� ;�
<br /> �`y to make an ewasd or settle u claim for damages, Borrower fails to respond to Lender within 30 days of the date
<br /> � t of such xiotice, Lender is authorized to collect. and apply the proceeds at Lender's option either to restoration or
<br /> ;,� repair of tha Property or to the aums secured by thia �iortgage.
<br /> =' Unlees7,ender: and Borrower other�risc. ngree in writing, any sucA application of proceeds to principal shnll �
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