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If under paragraph 18 hereof x-ho Property is sold yr the Property is otherwise aequirerl by Lender, Lender
<br />shall apply, no later than immediately prior to tiu Salo of the Property or its acquisition by Lender. ;ury funds
<br />held by Lender at the time of application as a credit against the sours securcrl by this Mortgage.
<br />" 3. Applieadan of Payments. Unless applicable law provides otherwise, all payrt=eats received lry header
<br />_ under the Note and p?aragraplrs I and 2 hereof"sltali be applied by Lender first iu payment of aniotmts payable to
<br />Loader try Borrower under paragraph, 27rereaf, tires, to inters t payable: on the Note and tin Future Advances, if
<br />any, and then to the principal of the,Note and tti the prmcflzal of Futma Advances, if any:..
<br />_ 4. Ghcu3asc liens. -~orroiver shall }5sy all taxes, assessments and other charges; Fines and impositions attrib-
<br />utalale to the Property which .may attain apriority -over this Mortgage, -and ,ground. rents, if ary, at Lender's
<br />optima in rtes manner provided: xiuder paragraph .ry herei;f or by Bxirrawer lacking payinerit, -when due, directly to
<br />the payee tharao€. Banower shall' promptly iurarish to 3;ender all notices of amounts due under- this paragraph,
<br />aad,in the event Harrower shall make payment directly, I3orror3~er:siutll pmniptly furnish to Lender receipts evi-
<br />deuciag such payanents. Borrower shall ponipily iiisaliarge any lien. which=has priority over this mortgage; pro-
<br />vided;t3~at Borrower shaiT.nvt be `required to disr:la$rge any suefr lien sa tong as Harrower shall agre¢ in writing to
<br />~ the pay°meat of the obligation sec3arecl by sued Nett in a=manner aecaptsble to Lender; or shall in gaud faith contest
<br />~ -such Tien by, or defend enforeemerit of sue#i-lien in, Iegsl proceedings wtrich tsperate to preveirt the enforcement of
<br />~ the lies ur forfeiture of th® Property ar any-part tlraraof.
<br />~ 5. Flazard Isauranee. Borrower steal? keep the iiitpravements now eitisting ar hereafter erected oa-the Pmp-
<br />~ city insured against loos by sire, hazards ineitiderl ivitliin the.term "extended coverage", and such other hazards as
<br />Lendez may require and in such amounts and far such jrer7ods as Lender may require; provided, that Lender shall,
<br />act require that the amount of such aaverage-exceed that amount of coverage required to pay the sums s4eured'by
<br />~ this Mortgage,
<br />-The insurance carrier providing the insurance shall be chosen. by Borrower subject to approval by Lender;
<br />provided, that such approvalshall sat by unreasonably withheld. All premiums on insurance pvlieies shalt- be-paid
<br />at Lender's option.irr the matmer provided- under paragraph 2 hereof or by Borrower making payment, when due,
<br />directly tv the insurariee carrier.-
<br />In the. event any-policy is not renewed. on oz before ten days of its expiration, the Lender, to protect
<br />its interest, may procure insurance on the improvements, pay the premiums and such sum shall become
<br />immediately due and payable with interest at the rate set Earth in said sate until paid -and. shall- be
<br />secured by this- Mortgage: Failure by :3orrcwer fo comply may, at option of Lender, constitute. a default
<br />under the -terms of -this- Mortgage;
<br />All irurance policies and. renewals thereof shall be in iornr acceptable to Lender and shaII include a standard
<br />mortgage clause in favor of and in form acceptable to I.erder. Lender shall have_ the right to ho?ci the: ptrlieies and
<br />renewals thereof, and-Borrower shall promptly furnish tv Lender ail renews' notices sad s}l ceeeipts of paid pre-
<br />miums. In the event of Loss, Borrower shall give: prompt notice to the insurance carrier and 7.ender, sncl .Loader
<br />may make proof of foss if sot made promptly Iry-Barrawar_
<br />_ Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration-as
<br />_ repair of the Propertp damaged, provided such restoration pr repair is zeonomicslly feasible and fha security- of "
<br />this :Mortgage is not thereby impaired. If such restoration or repair is not ecanonrically feasible or if the, seeuti;g
<br />- of the Mortgage would be impaired, the insurance proceeds shat be applied to the sums secured by this "Riortgage;
<br />with the excess, if any, paid to Borrower. if the Property is abandoned by Harrower or if Borrower fails to rr=^4nd "
<br />w Leader within 3fI days after notice by Lender to Basrower That the insurance oarrier offers to settle s claim fiat
<br />i~.aurance'aeaefits, Leader is authorized to collect and apply the insurance proceeds at Lender`s a,: flea sitirer tii.
<br />r,,,cf ._tign yr re~Lr vt Ihg PmpPrty or Lo the, sutau gerrirad 4 y thin 1lart~aga
<br />Unless Lender and Borrower athernise agree in writing, any such application of proceeds to principal shall-
<br />notextend or postpone the due date of the rnonthiy nrstallments referred fain paragraphs 1 and 2 heresif or ahenge '.
<br />the aurount of such instaIlmeats.
<br />If traderpatagraph 113 hereof the Pralaerty is acquired by Lender, alt right, title and interest a€ Harrower %n
<br />and to any insurance policies and in and to the greeds thereof [to the e+rtent of the sums secured by this It~lort-=
<br />gage immediately prior to such sale- or acquisition) resulting from damage t.o the Property prior to the -sate or
<br />acquisition shall pass to Lender.
<br />6. Preservation end Ft~ance of Friroperly; ieasehalds; Condomiaiurns. Borrower-shall keep the Prap-
<br />,tp in good repair and shall not permit or commit waste, impairment, or deterioration of the Pr©gerty and.sliall
<br />comply with the provisions of any lease, if this Mortgage is on a i~sehold. If this lortgage is on a crondominium
<br />unit, Borrower shall gerfotm all of Borrower's obligations under the declaration of condominium or master deed,
<br />the by-laws and regulations of the cnndominium projeci and constituent documents.
<br />9. Prs#ae. of L,§crder'e aeorr~~4p If Har-lacier fails to perform the eovenaats and agreements contained in
<br />this vlortgage, at if any action ar praeeedurg is commenced which materially a¢ects Lender's interest in the Prop-
<br />erty} iaelaiag, but not limited to, eminent domain, insalrency, code errforeement, ar atraxrgcemenis or proceed-
<br />lags involviirg a bankrupt or decedent, then Lender at Lender's option, upon notice to $arrower, may. naa'se such"
<br />_ appearances, disburse such sums and take such action as is necessary to protect Lender's intereat,ineluding, but
<br />not limited ~, disbursement of reasonable attorney's fees and-entry upon th8 Property,m, make repairs: Any
<br />amount siisburaed by Lender pursuant to this paragraph 7, ;with interest thereon, shall become additiuaai indebt,
<br />edness of Borrower secured by this tortgage. Unless Borrower and Lender agree to other terms of=payment, such:
<br />amausrts shalt be payable upon notice from Lender to Harrower requesting payment thereof, and shall }rear inter-
<br />e~ from the date of disbursement at the rate stated in the tiTat£ unless payment of interest at sneh rate waukl be
<br />_ contrary to applicable law, in which event such amo3nis shall bear interest at the highest rate permissible by
<br />spglicalrte law. 'M1Tothing contained in this paragraph 7 steal} require lender to incur any. expense or do any 8ct
<br />hereunder.
<br />~. man. Leader :nay r?aalre ar ca.~~e to lie made reasonable"entries upon and inspections of she Yt+ap-_
<br />ertp; provided first Lender shalt give Borrower notice prior to any such inspection specifying reasonable cause-
<br />tlttfl_ sfor relst#ed to Leader's *_n~rest in the Property.
<br />S. The proceeds of aay* award or claim for dsatages, direct or consecjuentie[, in camreotion
<br />- with. arty ea~iemnatiarr>*.or other taking ctf: thn Property, or l~rart thereof,- or for cent eyance in lieu of eonder~na-
<br />- , are hereby assigned and shall be paid to Lender:
<br />Ia t~reeveat of a fetal taking of the-Property. tltg_l)roceeds-shall lie applied to the sums secured by this A4ort-
<br />~e; with the excess, if auy: paid to Borro~; er. In the euont of a partial taking of the Property, unless So*rowet
<br />st+d Lender athernise agtsee iii writirc, there eltall lk~ agnlshit to clie siuns =eorrred by this 3ortgage such proper-
<br />tisan of tea proceeds as is equal to that prnpat•tion which the amaunc of the sums ses:trred hg this i~fortgage imrne-
<br />distsly prior to the date of takitag hearsto tlic fair market value of the Property i~rtmediatcly prior tc the date of
<br />- + taking. with the bafanrr of the proceeds paler to Harrower.
<br />If the Property is abs,ndoaed by Bonovicer or if aster notice by Lea:der-to l3orrowerilrat the enndeuinor risers
<br />to-make rxa award or seitle a claim far damages, Borrower fails so respond to Lender within 3f3 days of the=date-
<br />af fiucn r,uiic.:; Lender is tautitzui~ed to eofiect and ap}aty the proceeds at Lender's option eit?rer to restoration ur
<br />repair of the Property.oi• 1,o fire sums secure cl by ties \lort}*age:
<br />Unless Lander. and-Barrriweraiherivise agree-in Svritirig: any such=application of proceeds to principal shall
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