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<br />If under paragraph 18 hereof the Property is sold m• the Property is otherwise acquired by Lender, Lender
<br />shah apply, no Inter than immediately prier to the ,ale of the Prole:•ty or its acyuisit.ion h} Lender. au}' Funds
<br />held by Lender ai fire tune of application a~ is credit against the sznns secured by this A~iort;{age.
<br />3. Appfieation of Payments. Unless applicable law provides ot-hervise, all payments received by Lender
<br />under the :tote and paragraphs I and 2 hereof shall he applied by Lender first, in payment of amounts laayabfe, t-o
<br />Lender by Barrcn•er under paragraph ~ hereof, t.l:en to interest payable or, the-tiiote and-on Future Advane~, i}
<br />any, and then to the principal o3 the Note atnd to the principal aF Future Advances, if any.
<br />4. Charges: Liens. Borrower shalt 13ay ail taxes, assessments and ether charges, fines anuz impositions attrib-
<br />utalile.to ttis Property which may attain a priority over tizis Mortgage, end ~raund cents; if any, at bender's
<br />option in:tnD mantzer pravided under paragraph hereof ar icy Barrawer making payment, whom due, diaectly to
<br />the pAyee the-!'eof.:t3arrewcr shelf pro_srtptl4• fa~'ui41a +a L.stder all notices of amauri'_s due under this paragraph,
<br />atul in the event Borrower sl;all make psymeni directly, Barra;: er shall pratnptly furnish to i,ender receipts evi-
<br />~ dencirg such payrents. Barrowar steal} promptly disclzargD azty lien which has priority over this llortgagD,• pro-
<br />~= vidDd, that Borrower shalt not be required to discharge any such lien sa long as Borrower shall-agree in writing to
<br />tliepay?neat of the ohligatiom scoured lay such flea ;n a manner acceptahiD to Lendei, or shall in good faith contest
<br />such lien by, or defend en€areement of such lien in, IDgat proceedings which operate to prevent the enforcement of
<br />~r the Iien or forfeiture ai the Property or any part thereof-
<br />~ 5. Renard Insurance. Birrower shall keep rho intpn;vements now existing or hereafter erected on the Prop-
<br />erty insured against lass by fire, hazards included within t-he term "extended coverage", and such other hazards as
<br />Lender may require and in such stn©unfs and for such periods as lender may require; provided; that I~tidDr shall _
<br />not ret;aire that-the amount of such aowerage exceed that ama:tnt. of rowerage required to pay the sums secured'by
<br />h ~ ibis B3ortgagD.
<br />The insurance carrier providing the insurance shall be cktosen by Borrower subject to approval by Lender;
<br />pravided, 'chat such approval shall not be unreasonably svithiteld. All premiums on insurance policies shall be paid
<br />at Lender's eptian in the manner provided under psragraplt 2 hereof or by Borrower making payment, when due,
<br />directly to the insurance carrier.
<br />In the event a*ay policy is not renewed on or before ten days of its eapitntian, the Lender, to-limtect
<br />its intezmst, may procure insurance on the improvements, pay the premiums and such sum shall become
<br />irnmediateiy due and payable with interest at the rate set €orth in said note until paid and -shall be
<br />secured by this Mortgage. Failure by Borrower to comply may, at option a# Lender, constitute a default
<br />under the terms of this Mortgage.
<br />AiI insurancD policiDS and re>~ewals tltereaf shall he in iornt acceptable to bender and sl=all include a stande~d
<br />utor`,gage etause in favor of and in form acceptable to Under. Lender shall have the-right- tv }told the pa}L: icy and
<br />renewals thereof; and Borrower shalt promptly f•,n•;zish to I.ent=er ell renexval notices and all receipts of paid pre-
<br />uziuma. In the event of lass, Barrawer shall give prompt notice to the insurance ::airier and Lender, and bender
<br />may make proof of Ioss if not made promptly by Bart'ow.er.
<br />Unless Lender and Borrower otherwise agree in :vritiug, insurance proceeds shalt be applied to restoration or
<br />repair of the Property damaged, provided such restoration ar repair is econamicaily feasible and the security of
<br />tlai Mort-gaga is na*_. tltDrDby impaired. If such r~atartian ar repair is not ecottotnioaiiy feasible or if the security
<br />of this ~iartgage would be impaired, the insurance proceeds shall be applied t~z the sums secured by this 143artgage;
<br />with the Dxeess, if any, paid to Borrower. if the Property is abandvued ]zy Barrawer or i f Borrower fails to respond
<br />to L: rider within 3Q days after rotiee by Lender to Borrower first the insurance carrier offers to settle a claim for
<br />., n:.e 64n2uts. I:endvr :s authe..zed * alleet. end apply fire :as°.:ranca pra:e°~dn os, L~ndar`s apttca e€ta,ar :.o
<br />restoration or repair of the Property ar to the sums secured by this Mortgage.
<br />Jnl~s Lender and Borrower otherwise agree in writing, any sueiz application of proceeds tc prtincipal shall
<br />nut extend or postponD t:__ :cae date of the monthly insta}Inverts referred to ire paragraphs 1 and 2 hereof or change
<br />tltte amount of such installments.
<br />3f tinder paragraph IS hareoi the Property is acquired by Lender, all right, title and interest of $orrawer im
<br />and to any insurance palieies end in earl to the proceeds thereai ito the e~~ent of the sums secured by this ;4:ort-
<br />gage immediately prior to suth sale ar acquisitionl resulting iron: damage to the Property prior .ta the sale or
<br />acquisition shall pass to Lender.
<br />6. Presereation cad 1'$aiatenaace of Pragezty; Leaseholds; Candomiaiums. Borrower shall keep GhD Prap-
<br />erty ir, goad repair and shall not permit or commit waste, impairment, yr deteriaratian of the Property and shall
<br />wmply g-ith file j~rovisioits of atiy lease, ii this .Iortgage is an a iessehoid. Ii this Mortgage is on a condominium
<br />unit, Borrower shall perform all cf Banawer's obligations wader the declaration of condominium or master deed,
<br />the by-laws and regulations of the condominium project attd constituent documents.
<br />7. Paatectioa of Leader': Severity. If Borrower fails to periorm the covenants and agreements contained in
<br />this iortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the Prop-
<br />erty, including, but not limited to, enunent datuain. insolvency, Cade enforcernemt., ar arrangements or proceed-
<br />ings involving a bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may make such
<br />appearsnees, disbut~e such swats and tape such action as is necessary to protect Lender's interest, including, but
<br />not-limited tea, disbursement of reasonable attorney's fees and entry upon the Property to make-e repairs. Any
<br />amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall became additiousI indebt-
<br />edness of Burrower seeutsd bg '*_tti.~ Mortgage: Ltrrless Bor, over and Lender agree to other -terms of gaymemt, streh
<br />amounts shall be payagie upon notice from Lander to Borrower requesting payment thereof, and shall. bear later-
<br />- eat from the-date of disbursement at the rate stated in the NotD unless payment of interest at such rate would bD
<br />contrary to applicable law, in which event such amounts stzail bear interest at the highest rate permissible by
<br />applicable laws itiathing containc€# in this paragraph i shale require Lender to-incur -any- expense or do any net
<br />hst~uatder.
<br />' $. Cori. Lender rosy make ar eaasD to fee madD reasanahic entries unan-and, inspjctions of the P:'cp-
<br />e_rty,,providetl -chat l.Dnder shalt eive Borrower rotirc- i:riar to ::ny sails inspection specitying reasonable cause
<br />tlrere:pr reiatDd to Lrnder';.interDSt in the Prapexty.
<br />• S. Candes¢uiaticn. The }iriiceeds of any award ar c}ains for damaghs,:direct or eonsequentiai, in eonneetiaa
<br />teitl: any candeinriation or c>iti,er ta;~ng ai the ProperGir, ar part thereof.;-or-for eanyeyanee im-lien af-oondemmar
<br />- txnn, af•? r,P, 3 _ ~ ~,;.a ~ ,all r,~ p„~.a. *,~ L-...._d.: - _ -
<br />_°_ ~ W ter. -
<br />Ic: the . _.., of ..:oi:.l ta3.irg of the Proaezty, the}irou~eds-sizall be applied to the swims secured by this- I~+Si}..
<br />~- ~gagc, ;;pith the e±..;c -, ii an_s>, bald rv B~,*rot~ar. In the<-vent_fif a~parriat.taking~of the-Property, unless°~BorroYr*'er
<br />and ].ender athei-wise a~,ree in ~xrith,g, +}acre shall br a}iphed to£he sums ses,ured- by this Mortgage rsuclt propor=
<br />tion ,: thz prcn;eris as is equal to that praportivn wtuaFt the a}nount of-the sums secured by th+s Mertg$ge imme-
<br />distely prior to fife date o; `eking beers to Abe fair retarko± valire.of tlta:Prizperty immtely prior Eo the date of
<br />taking, with the tuaiance of the proceeds void to 13arroxer.
<br />If tl;e Property is abandoned hp Borrower or it >after notice: by I:emder to Borrower that-the condemnor oflors
<br />to make an award or settle a claim for darria}~es, 1?orroner fails to respond to Lendertvithin 30 days. of the date
<br />of such notice,. Lender is authrri,ea to collect and apply tht laraceeds at Lender's eption Dither. to restoration or
<br />repair of rho Proper ~ yr to tiro Burns securetl'.by this ~lartgage,.
<br />Una s Le„der end $orra~er othernse agree in ivizting,;any sueh'appliiation of proceeds to principal shall
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