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<br />3-,
<br />' If under parsgrapli ?8 tiereoi the Proterty is Bald or the Property is otherwise acquired by Tender, Lender
<br />shall apply, na rater than irnmadiatety briar to sic sale of the Yraperty or its acquisition 1}v bender, uny Funds
<br />' held by Lender at the time of application :as a credit against the sums secured irr Htis :~tartgaga:.
<br />3. Applie+~xtian of Paycneats. Unless applicable laµ• provides athercvise, all payments rareived by Lender
<br />under the Note and paragraphs 1 and 2 irerebf shalt be applied is}~ Lender. first in payment of amounts payable to
<br />_ - Lender by i3orrower under paragraph 2 hereof, then to interest laayahle on: the ?kote and 'on Future Advances, if
<br />cry, and-then to theprincipri at' the date anrj to,the itrincipal of F'ikture Advaur~s, if any.
<br />4. Ckurgear3aeaes. Borrower error! pay all farces, assessments and rzther charges, fines and impositions attrih-
<br />utable to the Property wliiah may attain s priority: aver this 3lortgaga, and ground rents, if any, at bender's
<br />option in the.manner;pmvided-zraiderparagraph ~ lfereaf ar Iay Borrower makuzg payment, when due, direatls to
<br />the payer-tl~f. -~aheccar shs,l F,i~r~.zy fu~~ti to Lar~r all netie2s of aziioun~ -cute finder tlZis paragraph;
<br />and in the event florrovrerslzail make payment directi~; Borrower shall promptly furnish to Lender ieceipts evi-
<br />ele'rieingstrah -payments; Harrower shall promptly disalzaige any lien wyrich has prierity-ever this Zlartgage;-pra-
<br />vided,that B+irmwer shall not lac required to discharge any such lien so tong as Borrower shall agree irE vrritirig to
<br />thepayment of-the obligation scoured by such Lien s x manner acceptable to Lender, or shall in good faith aontrst
<br />£`; suehliep by, or.defend enfpreement of scab lien in, legal proceedings which operate to pracerit the enfarcernent of
<br />CX the hen: or fnrfeitazro=of the Property or any part thereof.
<br />~ 5:'flazead'lnsurunse. Borrower atzall keep the itnpmvcments now existing or hereafter erected on the Prop-
<br />. C: i orty insuredagairtsttoss by fire, tisaerd§ inalr~deii witlein the term "extended aoserage", a:td such other hazsrdp as
<br />Lender may require and in such amounts apd for snort periods as Lender`mayrequire;-provided; that. Leader shall
<br />v~ not require that the amount of such. coverage exceed that amount of caveiage required to pay the sums seaured'by
<br />flue lklortgage
<br />The insurance carrier piri-riding ±he insurance shalt lac chosen by $orrowar subject to approval by Lender;
<br />provided, that such approval. shad not. be unreasonably withheld. AIi premiums on insurance policies shall be paid.
<br />at Lender's option in the manner provided under paragraph 2 liereaf or by Borrower making payment, when due,
<br />direatiy # kke in~e_rnnrp ~AtR'IPS_
<br />Ia -the event any policy is not renewed an or before ten days of its expiration, the Leader, to protect
<br />its interest, may procure insurance on the improvements, pay the premiums and such sum shall become
<br />immediately-due and payable-with interest at the rate sat forth in said note until paid and shall be
<br />secured by this Mortgage. Failzrre by Borrower to eorrply may, at option of Lender, constitarte a default
<br />under-the terms of this-~IOrtgage>
<br />All insurance policies and: renewals thereof shall be in faun aocept$bte to lender and shaltrnciude a standard-
<br />- mortgage clause in favor of-arid in form acceptable t~ Lender. Lander shall have the right to bald the policies-and
<br />renewals. tlrereaf,,and Borrower shall promptly furnish to Lender all renewal notices and alt receipts of-paid pre-
<br />- micros. In the event of loss, Borrower shad give prompt notice to the insurance carrier and Lender, and. Leader
<br />may make.proai of loss if not made promptly by Borrazver.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceed. shall he applied W restoration or
<br />repair of the Property damaged; provided such restoration or repair is econorir;caity feasible and the secztrity of
<br />this i4lortgage is natthereby impaired. If such restoration ar repair is not eaanomicatly feasible or if-the seczirtLx
<br />of this ~••#ortgage would be impaired, the insurance proceeds shall ire applied tq the sums secured hy,this 141ortgage;
<br />avitlr the excess; if arty, paid to Barrower,'If the Property is a6andan~ by Borrower ar if Borrower fad-ta tz:.st~ziil
<br />tra Lender within ~r :._ys after notice lty Lender to Harrower that the insurance carrier offers to settle: s claim €or
<br />insurance benefits, Leniier is-authorized to eoileat and apply the insurance proceeds at Lender's-ojriion either to
<br />restoration or repair of the Property or to the sums scoured Ia}- this lfartgage.
<br />Unless Loader and- Borrower otherwise agree in writing, any such application of proceeds to principal shall
<br />oat exteeid orpostgane the dire dates af'the manthty installments referred. to in paragraphs land-2 hereof or ahsage
<br />theamaugt of such>installments:
<br />if under pa~grsph l$-hereof the ,Property is acquired by Lender, alt right, title and- interest of ~lorrower.im
<br />and to any instrrnace policies and in and to the proceeds thereof tto the extent of the sua:s scoured. by this :avlozt-
<br />gage.imntediately prior to kuch sale or acquisstioni revuiting from damage to the Property prior to the sale or
<br />a.-•quisition ah;iil pass to Lender.
<br />& Preaervafion road A3rantetsnnse of Property; Leaseholds; ~oadorniniuws. Borrower shall keep the Prnp-
<br />arty in good ropair and shall oat per*nit ar commit waste, impairment, or deterioration of the Property and:-shall
<br />comply with the provisions a# any lease, if this \lortgage is an a leasehold. If this Ylarigage is on a aondominizzrrr
<br />unit, Borrower shall perform all of Borrower's abiigations under the declaration of condominium or master deed,
<br />the 6y-laws and regvlatians of Lhe condominium nrajeet and eonstituant documents.
<br />7. Pze#eclioa.o€ I endez'a;3ectulty. if Bo_~rawar faits to perform the covenants and agreemetrts contiRirzed in
<br />t}zis ~+foitgage; ar ii any soften or proaeeding_is commenced which mxteriaily affects Lender's interact in the- Prop-
<br />esty; ineIudingr but oat Iimited ta, eminent domain; insaheney, code anfar. meat, or arrangements- ur proceed-
<br />lags involving a bankrupt or decedent, than-Lender at Lender's option, upon notice tra Borrower, may;rna}ce s!toli
<br />appearances, disburse such sums and take such action as is neaossary to protect Lender's interest,. inciudingi rant
<br />oat-lixnited'to, disbursement of reasonalale attorney's foes and entry upon the Property to crake --repairs: -6ny
<br />ameant~s disbursed by Lender pursuant to this.paragraph i, with interest thereonrahaIt became aduitioiial L~+lebtr.
<br />edriess of 8arrower scoured by tizis 3Sortgage. Unless Bozro~var and Lender agree to other terms of papmsnt, szieh
<br />arnounte shall ire payable upon r=otae frazn Lender to Borrower requesting payment thezssof, and shall dze~•: itzter-
<br />€mm tie date of disbursement at the rate stated iri fhe Note unless payment of interest ~t such rate wouidbe
<br />a~iatrary to ~ppliaatile Iaw, in which event such amounts shall-bear interest at the hig'nest-.rata permissilale by
<br />appllcabte law. ;vTothing cantaine.-1 in this paragraph :shad require Lender to incur any expense or-fin cry oat
<br />h~r2uncler: - -
<br />8. +~:, Lender map-make or aau_~e to he trtada raasonahle entries. upon and iiispecfions of the Prop-
<br />- e~Y, Fn>z'ided That Lender stroll give Borramer natirr_ prior 'tea any such inspcztion specifying reasanabte cause
<br />i,I;erefor reisf'edtsrlRntlci''s interest in the t'raperty.
<br />;~ be pa-+x~s o. rata awaed ~r cretin-fr~r dx;trsg~, dlix'.ct or t:omequentisi, an aonirrecfirian
<br />with any cordcnrsnatiorior tttirer tzki~g of the 3?rope:Rty, or iyart ti;ereof; br tar conveyance in tieu:of-candemua-
<br />- lion, are hereb}• resigned andsilsll lac paid ta.Lender:
<br />In the event of a total fa~kurgof the Property,-the proeeecls she!] lie applied to the sums aecJred_hy this ~oSt-
<br />- gage, with the excess, it any, paid to Borrower. In the event of a .partial raking of the Pra{iertp, caress Bt#'autire_r=
<br />cola' L>;rra,rr oilierwise agree~in writing, thare_siralitie. appiie~tto fhesums secured hythis ~lortgsge such }aropur-- _
<br />flan of the proceeds as is alual to that proportion whie}: rho amount of the sum: secured by this ~4ortgage irnate-
<br />.diately prior fo+,ha date of taking bears to the flair urarket value of the 1?ropart,• irnniediately prior to-the date~s+f
<br />taking, wzth the balxnae ui the prac~aeds paid >.o Berrow•er.
<br />If the Protwrty is abancianesl by BorroSre* o s` after notice by Lender to Barrostar that-the condoumor cars
<br />- - ka iratEe an aWB~ Or r3ettte a alai:n for darna~'~,BarTOwer Ia115 io resj;Gn%.~ Lender'w'ittzin 3"Ti <lA,~~'S a€he'di~
<br />of scab notice. Lender is sutltariaed to rutleet and appir file praeeetli; nt Lender's option either to rAstioratian ar
<br />repair of thePzrpQrty ur_totbe sums scoured by this .lfmtgiige.
<br />Unl~as Ls*zder°and Barra>.srs-,sathssrn•ise agree in ~~ritiz:g, any snarl application of pmoeeds to principal-shall
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