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<br />If snider paragraph f& hereaf the Prolerty is said m• the Praperty is otherwise acquired isp Lender, Lender
<br />shall apply, no later than immediately prior to the sale of fhe Yrapcrt}~ or its acquisition by Lender, any Funds
<br />held by Lender at the tune of application ass a credit. againsi the susus secured by this iVtortgage.
<br />9. Appliccttian of Payments. Unless applicable la.w provides otherwise, all payments received by Lender
<br />under the-Note snit paragraphs 1 and 2 hereof dial} be applied by Lender first in payment of ansaunts payable to
<br />Fender by Barrnwer under pariigraplt 2 hereof, -tGess tp- rote}~st ,>aysble op t-he Nata rend ou future Advances, if
<br />any, and then to the principal of the Vote and to-the principal of Future Advances, if any.
<br />d. Charges; X.iens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attrib-
<br />utable to the Property which may attain apriority-over tlsis i4iartgage, and ground rents, if any, at Lender's
<br />option m the rrar,ner liroc~ided -s>-sder paragraph 2 beretsf ar by Harrower ma'aing payment, when due, directly to
<br />~ the payee thereof: Borrower shall promntit furnish to Lender all-notices of amaunts due under tfiis paragraph,
<br />}~ and in the event Borrower shat] ,Hake payment- directly, -Harrower shall pzontptly furnish to Lender receipts evi-
<br />CXs donning ssxeh payments. Borrower snail promptly discharge any lien which has priority aver this 1ortgage; pro-
<br />I.~ vided, thatBurrowsr shall not be required to discharge any-such lien sa long ss Borrower-shall agree in writing to
<br />v tbo payment of the obligation secured by such Tien in :s manner acceptable to Zander, or shall in good #aith'caatest
<br />~ sunk lien by, o; defend enforcement of sncls lien in, legs[ proceedings which operate to prevent the enforcement of
<br />the lien or-fcrfeiture of the Property or any part thereof:
<br />5. Idtxzax3tnsurrmce. Borrower shall keep file isujtrovements now existing or hereafter created an the Prnp-
<br />~ arty' insisred against loss by fire, hazards included within. the term "extended coverage", sled such other hazards as
<br />Leaileitiiiay require-and in such amaunts and far sue],.-periods as Lender ma}~ require; provided, that Lender shall
<br />net rgquire that-the amount of such coverage exceed that asriaunt of coverage required to pay the sums secured'by
<br />this lYIortgage:
<br />The insurance carrier providing the insurance shall be chosen by Borrower suhject to approval by Lender;
<br />provided, that such approval shall not be unreasonably withheld. All premiums on inauraitee policies shall: be paid
<br />at Lender's option itt the manner provided under paragraph 2 hereof ar by Borrower making payment, when due,
<br />directly to the insurance carrier.
<br />In -the event.Any policy is not renewed oa nr before ten days of its expiration, the Fender;. to pra#,eet
<br />its interest, may procure insurance on the improvements, gay the premiutiss and: such sum shall become
<br />immediately due and payable with interest at the rate .set Earth in said rte " until -paid and shall be
<br />secured by this il+lortgage. Failure by Borrower to eotnpIy may, at apiion of Lender,- eanstitnte a default
<br />under the terms of this Mortgage.
<br />All insurance policies-and renewals thereof shall he in form accep*_able to Lender and shall inelu+3e a standard'
<br />mortgage clause in favor of and in form acceptable to Lender. Lender shall-have flee-right to Bald Ehe galicies and
<br />renewals thereof, and Borrower shall promptly furnish to Lender aIi renewal notices anti all receipts of paid"-pre='
<br />miums, In the event of foss, Borrower shall give prompt notice t-0 the insurance carrier and Lendim; and Ir..nder
<br />may make proof of toss if not made promptly try Borrower.
<br />Unless Lender and Borrower otherwise agree in.writing, insurance proceeds shall ba applied tcs restoration of
<br />repair of the Property damaged, provided such restoration or repair is eeanamically feasible and the security of
<br />this E3ortgage is not thereby impaired. if such restoration or repair is not economically feasible or if the-security
<br />of this Mortgage would be impaired, the insurance l;mceeds shall Ire applied to the sums secured by this ;4ortgage;
<br />with the excess, if .any, paid to Borrower If the Property is abandoned by Harrower or if Harrower fails-to yes°^~d
<br />tp Lender within 30 da*rE after notice by Lender to Borrower that the insurance carrier offers to settle a claim for
<br />insurance benefits, Lender is authorized to collect and apply tl;e insurance proceeds at Lender's aptinn.either to:
<br />rc: ~ri~taon ur repair of tiE PTaparty or t6 the sums seeurad by tits 3ionga~.
<br />Unless Lender and Borrower athernise agree in writing, any such application of proceeds to principal shall
<br />not extend tu• pasipaae the dice data ttf the monthly installments referred to in paragraphs i and 2 hereof or change
<br />the amount of such instathnents.
<br />If under paragraph i$ hereaf the Prtipeity is aequirt:d by Lender, all right, title sad- interest of Borrower its
<br />and to any insurance policies And in and to the proceeds thereof (ta ]fie extent of the-sums secstred by this IVioxt-
<br />gags intmediatety -prior to 'ssiclt sale cr acquisition t resulting from damage to the Praperty prior to the sale or
<br />acquisition shall pass to Lender:
<br />S. Ptssesvatian and Maiee of Praperty; Leasehalda; Candominiuma. Borrower shall keep the Prop-
<br />erty in good repair and shall not permit or commit waste, impairment, or deierioration of the Property and shs11
<br />amply with the pravvions of any lease, if this Aiortgage is or. a leasehold. If this farGgage is an a candamiaium
<br />+utit, Borrower shall perform all of Borrower's ahligatians under the declaration of condominium or master deed,
<br />the by-laws and regniations of the condominium project and constituent documents.
<br />9. Pcateetian of lvadet`s Security. If Borrower fails to perform the covenants and agreements contained in
<br />this liortgage, or if suy action or proceeding is commenced which materially affect, Lender's interest in the Prop-
<br />erty, including, but sot limited tn, eminent domain, insolvency, Bode enforcement., ar arrangements or proceed-
<br />ings invniviag a bankrupt or dxcedent, then Lender at Lender's option, upon notice to Borrower, may make suali
<br />appearances, disburse such sums and take such action as is necessary to protect Lender's interest, including; but"
<br />pat limited to, disburseaieat of reasonable attorney's fees and entry upon the Property- to make epains. Any
<br />amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall became additional indeli~a-
<br />edne~ of Borrower scoured by this Aiartgagt_ Unless Borrower and Lender agree #o other terms of psyuient, such ".
<br />amounts slsaIl Se payable upon notice from Lender to Borrower requesting payment thereo€, and shall-bear "niter=
<br />eat from the date of disbursement at the rate stated in the iv'ote unless payment of ititeiest at such rate wouldhe. "
<br />eo*trary tis;applieable- law, in which avant such amounts shall bear interest at the highest rate. perrxe~si~. by
<br />apptica'ule taw. Nothing contained in this paragraph ?shall require Lender to incur any expense ar do any: set "
<br />hereunder.
<br />8. laapecKieu. I,diider may inaKe or cause to !te incite reasonable entries upon and inspections. of-else Prop-
<br />arty, provided that Lender shall give Borrower poll*e 1?rior to any such inspection specifying lesson„tile cause
<br />therefor related ttx iender'sinterest "sue the FrFip.orty.
<br />c, Ctrtrhaan3tion. 'Else 1>raaccds Qf suy awatrl-as,cl€;im far daraa~g;-dlrort ar:ron~G~l, in tsaii*~eetion
<br />tirith any condeniaatiott or otdier taking of tIre Ftoier4y, ar gore":thereof, tir fur conveyance in-lieu pf etindemna-
<br />lior.; arP_ itr:`.°,by Essigned and shall ba psitr Cr. Lendcs.
<br />In the event of a total takir~ cf tibe Property, the proceeds sliali he applied to the sums secured by this -mart-
<br />gaga; with the assess, if_any, paid to Borrower. In the event of a partial tnr.~'hg of the Psagerty, utrlesa=$orruwe;~
<br />~„~? ? A^d.r nt•, ~ ~° t . retina, .iic., °l.a,i l.c aYplicd .., tla aunts secured by this lla.•tga~x such prepay
<br />lion of fete prxeede as is equal to that proportion which the amount of the Ranee assured by this \iattlago imme-
<br />dintely prior to tea date pf taking beasts to the fair u:arket valuE at tl:e Property Immediately prior to t3se date of
<br />takng, the lialaitce of the proeeet3s paid to Harrower,
<br />If else I?ioperty is a(asadoned Irk Ls~rrower or if aEier notice by I.enrier w flormw•er that tt,e condomnor offers
<br />malts anAward c?r Bettie a etairu for dnntages, Borroxer fails to respos;d to Lender witt,in ~3 days of the date
<br />of such polies, Lenderia authorized-ta coklect and apply the jtroceede at- Lender's pption either t•4 restni•ation or
<br />repair of Vie-Praperty or w the sum secured. by this 3? crrtgage;
<br />Iinless Lender and Borrowot• otherwise agree is: writing, any si:cli- application of proceeds to principal shall
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