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If tinder paragraph F& hereof the Proper'ty` is sold or flee Property- is otherwise acquired lay Lender. Lender
<br />shall apply, na later than inamediacely prior to the. sale of e-he Yropert3• or its ucqui::if ion by Le,~der, :uty funds
<br />held by Lender at the time of application as a credit a~,ai;tst the suns secured hg this l•Iortgage.
<br />3. App?iccttion of Paryments. Limes:: al>plicablc Isw provides otherwise, all payments received by Lender
<br />under the Iti'ote-and paragraphs I and 2 hereof shat! Ire applied by Lender first in payment of amotmfs payable to
<br />Lender by Borrower under paragraph 2 hereof, thou to interest laay~ble on fire ;-tote and on Future Advances, if
<br />any, and oxen-to tha.principal of, the iVote and to the Irincipal of-Ituture Advances, if any.
<br />4. Clz¢rq®s: $.ians. Borrower shall pay all faxes, assessments and other charges, fines and impositions attrib-
<br />utable to CI=_e Property wltieh anay attain a ;zriority aver this -`tfartgage, end ground ren±,s, if any; at bender's
<br />option in-the manner jxrov3ded under-paragrmph 2 hereo€ or lay Borrnv:er tnalang paymen%, when due, directly to
<br />'the payee tbQreixf. Horzaa*er siimll pramptly furnish to Lendor all notices of aznatrnt+ due under t15is paragraph,
<br />arttl in the event Bornzver shall nxake payment directly, Borrower shall prompt!}- furnish to Lender receipts evi-
<br />deneiag such pa}~nents. I3arrovrer shall pramptly discharge any lien whielr 3tas priority ovor this ~3ortgsge; pro-
<br />vided, that Borrower shall-riot be regtjired to discharge any such {fen so Long as Borrower slxalt agree in ivritiuag to
<br />~~ the ~isyFmentof the ohGgatioxi secured by such-tier. in a manner acceptable to Lender, or shall in good faith- contest
<br />~ sash lice by> or defend enfarcenrent of suoh Betz in;-legal lireesedings tvltielx operate to prevent the- es€orcentent of
<br />~'.,. the lien or forfeiture of rho Property or any part thereof.-
<br />3. Iicaard Irscaffitee. $Drrawer shall keels the improvements now existing or herea€ter erected on the Piap-
<br />eery insetted against lass b3 fire, hazards inalttded vrithin the tern: "amended coverage", -and retch atlxer hazards as
<br />Lent3erixiay ret#ttire and in such amaunfs and for suck, periods as Lender may require; provided;-that Lender shall.
<br />not require that the ameitnt of such coverage exceed that amount of coverage required to pay the sutras secttred'by
<br />~ ` this ~Sotlgage.
<br />.The insurance carrier providing the insurance shalt be chosen by Harrower subject to approval by Lender;
<br />°' prav~ided, that si:cla approval shall nflt las unreasonably withheld All pretiums on insurance Po"tieies shall tae paid
<br />at Leader's option in the manner provided under paragraph 2 Itereef or lay Horrower making payment, when due,
<br />directly to the insttranee carrier.
<br />I'n the event any policy is not reriewed on or before-ten days of ifs eepiration,-the bender, tg protect
<br />its interest, mxY procure insurance on the improvements, pay the premiums and such sum shall betroaue
<br />immediately due and .payable with interest at the rate set forth in said note unfit paid and .shall be
<br />secured. by this Mortgage. ]Failure by Borrower to comply may,. at option of Lender, constitute a default
<br />under the terms of-this-Mortgage.
<br />A,II insurance policies and renewals thereof shalt he in form acceptable to Lender and shall include a standard
<br />mortgage clause in favor of and in forth acceptable to Lender. Lender shin!! have the right to hold the.pviicies and
<br />renewals thereof, find Borrower shall promptly furnish to Lender aII renewal notices and alt receipts of-,paid-pre-
<br />miums. In the event: of loss, Borrower shell give prompt notice to the insurance carrier and Lender, and,Lender
<br />may make proof of loss if net made prompty by Borrower:
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceed; shalt he applied to restoration-or
<br />repair of the Property damaged, provided such restoration or repair i= economically feasible and the security of
<br />this iLtartgage is not thereby impaired. If such restoration or relrair is not economically feasible or if the security
<br />of dais Aortgage would be impaired, the insurance proceeds shall lza appli:=d tea the suu-as secured 6y this Mortgage,
<br />with the excess; if any, paid to Borrower.If the Pmpe^ty is abanclaned by Borrower or ii Harrower failsta respond
<br />s~ ?;etxdx within 36 days after potter by Lender to Borrower that rho insurance carrier offer tiz settle a- clai.n far
<br />insttrance benefits, Lender is authorized to eolIect and apply- else insurance preeeeds at Lender's option either to
<br />restoration ar repair of the Property or to the sums secured bF this Torgage.
<br />Unless Under and °,rrower otherwise agree in writing, say such application of proceeds to principal shall
<br />not extend orpastpone the due date of-the tnonthly installments referred to in paragraphs I and 2 hereof ar change
<br />the amount of such installments.
<br />3f under paragraph IS hereof the Property is acquired by Lender, aII right,-title and interest of Borrnwer in
<br />and to-any nsuranee polities and in and to the proceeds thereof eta the extent of the -sums secured by this-Mort-
<br />gage immediately prior to such sate or acquisition) resulting front damage to the Property-prior io the-sale or
<br />aaquisition shall pass to Lender. •
<br />~. Prearrvc~tiors aacf t~~tsrto;t~ of Fzupatiy; Leaaeholda: Coadcratisium~s. $otzawer shall keep the Prop-
<br />erty in goad repair and shall pat permit ar commit waste, impairment, or deterioration of the Property and she#1
<br />comply with the previsions of any lease, it this \fortgsge is on s leasehold. If this Mortgage is on a condominium
<br />unit, Barra^°~r slxalI perform ell cf ;3arrawer's abligmtiaas under t.e declar~tia:-, of candotninsunx or master deed,
<br />Lhe lay-laws and regulations of the eondaminium prcject and eonsiitrxent. documents.
<br />7, lrat~--t`.o~io#I.~dsr'a'~.,~-a~i=y. If Bortow°~r finite to pcrfv,: the covenants and agroements nantsut~i in
<br />this +4ortgagz; or if any action or pr?u;eesling is con:meuced ;x•hiait ntatarialty af#ects Lender's interest in the $rop-
<br />ertg, including, but not limited to, eminent domain. insotvencr, c€zde enforcement, ar arrangements or proceed-
<br />ings involving s bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may make such
<br />appearances, dxsburae such sums and take such action ss is necessary to protect Lender's interest, including, but
<br />pat limited t,tr, disbvt-.ement of re~anable attorney's fees and entry upon the Property to make repairs. Any
<br />amounts disbursers by Lender pursuant to this paragraph 7, with interest thereon, shall become additional indebt
<br />sdness of Borrower secumd by this Mortgage. Unless Borrower and Lender agree is ether terms of gaymettt, such
<br />amounts shalt Ire payable upon notice from Lender to Borrower requesting payment thereof, and shelf bear inter-
<br />- eat fmm the date of disbursement a the rate staled in the °:ote unless paytnent of interest at races rAte wetald be
<br />contrary to applieahle few, in which evenf such amounts ~~xall trear intent at the highest rate ~r~issible by
<br />applicable law. ?~Iothina sont$ined in this paragraj.!< 7 shall require Lender to incur any expense or da a-nY net
<br />hereunder.
<br />~. Lender may make ar cause to Ire made masonable entries upon and. inspections of tfie Pitrg-
<br />~•ty, .,rnvia~t thAo- i.Ynde= e 1; e ..e Be~cwer noire 1 ;or to ear ~xt h SasE:Getian ~iaeeify'tx~ reasonable cau~
<br />tlsfor x~lrted tp Londe'a-interest'tit-the Property.
<br />~. r~:y.,. Tl~ pteeds e§ any award or eiaim for damages, ~?irect or eorrsegt~ntisl, in ca;.rri~tian
<br />with any c~ndetnvatian orotlxer tatting o€ the Property, or part tlxereaf, or for canveyaneesn l-'yeti of aondemna-
<br />ti3n, alx. h8s"c*by sgneu t~uci sFirili ue vaici to ruder.
<br />T.n ~ rent of a tdtal ta'~ans of ti,e Property, the proes.ed.. shall lac, applied to t5e ruins sec- red 6y this Mort-
<br />- g~:with tree excess, if any.- paid to .Bnrrotver. In i.lae event of a.partiah¢,aaking of the Property, unless $orrowei•
<br />ai Lerotixer'wise ogre=. in writing, There si;xil he applied to`tlae spins secured bY'this'.4iartgage snob prsrpor--
<br />tactn of tfte firaCeeLIE ss is equal to that proportion tti•hi~h the amount of the.sums secured by this ~Sorygage imme-
<br />thstely~ prior ta'tlie date o[ raking bear„ to floe fair :izarket xreli_te of tlte_Property imt`gedia~ly prier to the date-of -
<br />,- `tskina, with rife balaneeai~ the proceeds paid to $mrowcr.
<br />if rife PmF*ert e :~as:dars,± by HorroR-er or i€ 2ftar rctice fiiy Leader to $ort"ower that the eandemnar offers
<br />#~ make inn av:erd or setae a claim far damages, I3orrae•er fails to respond to-header-cv3thin 3Q-daps of eke-date
<br />of each .notice, Lender is authariteci to calles± ant', apl,ly the proceeds at Lender's option oitlxer to restoration or
<br />repair of ttteProperty ar tg,theauttsa.eecured by this ~I:r_rgaga-
<br />Ii~alesir I,rxadee and 3orrower at}terwise agree'in writing,,any such agpticatian of proceeds :o principal shat[
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