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if under paragraph l$ hereof the Propert• is sold ar the 1'raperty is otherwise acquired 6y Lender, Lender
<br />skull apply, no later than immediately prior to tho ;ale of the Property or it, acquisition i;y T.ender, any Funds
<br />field by Lender at the t-ime oI application as a credit. against the sum. secumd by this 3iortgahe.
<br />3. Application of Payments. Unless appiicablc l:an- provides atherwl=e, rill payments receit•ed by Lender
<br />unzler the Nate and paragraphs 1 and 2 hereof shelf lie applied be Lender first in 1;aytnent of amounts payable to
<br />Lender by $onower under paragraph 2 i;az•enf, their to interest payaizle on the \ate and on Future Advances, if
<br />any, and then to theprincipaI of the i~Tats and to Ghe-principal of Future Adranees, if any.
<br />+l. Charges; Ziens. Harrower shalt-pay all taxes, assessments and att3er charges, fines and impositions attrib-
<br />utable to the Property-which may attain a priority over this 1~Iortgage, ani! graui3d rents, if any, at bender's
<br />option in the manner provided wZder.p aragraph 2 kereof ar liy 13orrewer ;Hokin„ payment, when dal, directly tri
<br />the payee.therea€. Harrower shall promptfy_fi3rni§IS to Lender aft notices of aSnounts due finder-this paragraph,
<br />and in the event ,Borrower shall make paymefSt directly, Borrower shaA pramptiy furnish to Lender receipts evi-
<br />dencing suck- pagments::BRrr_ower shall proniptiy discharge any lien which has priority aver this :tgortgage; pro-
<br />uldecl; that Boi~.; war shall-.not bii required to diseiiargc any such hen so long as Borrower shall agree in writing to
<br />tke paymei3t of tke obligation secured by such lien in a mmanner acceptance to Lsndr:r, ar sha}I in growl faitk_ eonteat
<br />such Lien by, fir defend:enforcement of such tien in, legal proceedings which operate. t.o prevent the enforcement of
<br />the Iien ar forfeiture of the Property or any !reef thereof.
<br />S. I~aaard 7nsurmtce. Borrower shall keep the improvements now existing or hereafter erected on tke Pr~p-
<br />erty insured against foss ny fti'e; hazards included within the term "extended coverage", and suck other hazards as
<br />Lender may ret{i3are and nsuck amounts and for such periods as Lender ma,• require: provided, that bender shall
<br />nt3t<require tkat the amount of such coverage exceed that amount of coverage required to pay the. slims seciired'by
<br />tkia MOS'tgage.
<br />The insurance carrier providing the insurance shall lie chosen by Burrower subject to approval- ky Lender;
<br />provided, that such app3uval shall not be unreasonably withheld. All premiums on insurance policies s(Sall ne paid
<br />at Lender's option in the manner provided under paragraph 2 hereof or by Borro«°ar Snaking payment, when due,
<br />directly to the instrance carrier.
<br />In the event any policy is not renewed on or before ten days of its espiratian, the Lender, to protect
<br />its interest, may procure insurance an the improvements, pay the premiums and suck sum shall Become
<br />immediately due and payable with interest at the rate set fartk in said note until paid and shelf he
<br />secured by this Mortgage. Failure by Borrower to comply may, at aptian of Ler3der, constitute a default
<br />under the terms of this Mortgage..
<br />Ali insurance patici~ and renewals thereof shall be in forSn acceptalite to Lender and shall include a standard
<br />mortgage clause in favor of and in farm aceeptahie to Lender. Lender sha!1 t3sve rife right to hold the paheies and
<br />renewals thereof, and Borrower shall promptly ft3rriish is Lender ail renewal notices and all receipts of paid pre-
<br />miums. In the event of loss, Borrower shall give prwnpt notice to the insurance carrier and Lender; and. header r
<br />may rnalse proof of loss if not made promptly by Borrower. ~{
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or
<br />repair of tke Property damaged, provided such restoration or repair is econon3ically feasible and tke security of I$
<br />this ?tortgage is not thereby impaired. If suck restantion or repair is not eeonomica4y feasible or if the security" €'
<br />of tkis Afartgage would be impaired, the insurance proceeds shall be applied to the sums secured by this i4fartgage, .
<br />with- tke excess, if any, Paid to Borrower. It the Property is abandoned by Harmw~r or if Bo*rower fails to rpgpt+t?r!
<br />to Lender tf-ithtn ;ld days after notice ky"Lender to Borrower that the insurance carrier offers to settle a cIaiai :ar
<br />irisuranee benefits, Lender is authorized to collect :arid apply the insurance proceeds at Lender's aptian -ciitr tD
<br />restaratioa or repair of the Property ar to the ssts3s s8C3irtti by This \iortgaga.
<br />Unless Lender cud Borrower otherwise agree in writing, ary such application of proceeds to priricipai shall _
<br />Hair extend ar pas•tpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change
<br />tke amount of suck instalknents.
<br />'
<br />If under paragraph 18 hereof the Property is acquired by Le33der, all right,-title and- interest of Harrower iii,- °
<br />and to any insurance policies and in and to the proceeds tl3ereof {to tl3e extent of the sums secured-by this-l4#ort-
<br />gage im3nediateIypriar to suck sale ar acquisitioni resulting from damage to the Fraperty prior to tke sale ssr
<br />acquisition shall pass to Lender.
<br />6. Presezvatioa sad Mmatenaaee of Property; Leaseliolda: Ccadaininiuats. Borrower shall keep the Prop- ti-
<br />eery in good repair and shall not permit or commit waste, impairment, or deterioration of the Property and skaU
<br />comply with the provisions of any lease, if this i4fortgage is ou a leasei3afd. If this Mortgage is on a condeininium
<br />unit, Borxwer shall perform all of Borrower's obligan:;ns under the declaration of condominium or master deed,
<br />tke by-laws and regulations of the condominium project and constituent documents. iF
<br />?• Proteeti~t of Leader s Security. If Borrower fairs tv perform the covenants and agreements contained in
<br />this ;4ortgage, or if any action er proceeding is com3nenced which materially affects Lender's interest in the Prop- -
<br />orty, including, irut not limited to, eminent domain, insolvency, code enforcement, or arrangements or pr~ceed-
<br />'
<br />s option, upon notice t+i Boroewer, may make sue6
<br />ings involving a bankrupt or decedent; then Lender at Lender
<br />appearances, disburse suck sums and take -such action as is necessary to protect Lender's interest, including, but
<br />~at.lirnited to; disnursement of reasonable attorney's fees and entry upon the Prnperty to snake-repairs. _'?sny
<br />amounts disbw-seer by Lender pursuant to this paragraph 7, with intermit thereon, akail beeame additiansl indent=
<br />edacea of $errower sec-,zred by this 1~Iartgage. Ur3less Borrower and Lender agree to other terms of pad anent, sus3t
<br />amoiitit€s skaIl be payable upon notice Pram Lender to Borrower requesting payuient thereof,, and shalt- bear inter-
<br />est from tkc date of disbtz3sement at the rate stated in the 1Vate unless payment of interest at.aiich ratE.watikl-be
<br />cant~i?y to applicable law, m wh3eh-avant such amflunts shall near Snterest at tke krgkest gate. perniisstnle ny
<br />appl3cante law. ?'ratking Contained in this paragraph 7 shall require Lender to Sncttr any expense ar da env act
<br />hei,BUnder.
<br />8. °i0i;. Lender may-make fir cause to hi; made reasonable en233es upon and inapectiona of tke Prop-
<br />art}•, provided that Tender shall give Harrower notice prior to any such inspection specifying reasonable cause
<br />t•Ita~eforrelsted to Lendex's;rest in tke Property
<br />' a
<br />^. CG-"n@.'%t:D~~.
<br />a.. ~ .wo",...;....i-'~ ~h2 yiv..L ~S "f .iffy aw$rd ar "i+°iIi37 far da;"~i.°gE$, d:~ ar':4 FS,:y ,C„~ 1
<br />with nn~ eonde3ni+.atian or other t~lemg of the Properly, ar part tl3erexif, or'3or eanvtvance in ken of epnciemna- -
<br />lion, are i ar,,hv ess3gued ana snalk-tie paid ta-T~eritler. .
<br />In 6ha Pvenf. of a total takit3gof tl3e_Property; the proceeds s};all be applied fo tl3e 8ti3rt9 secured by tliiaMOrt '
<br />gage, with the excess, if any, paid f~ Bar,~ots'er. In the evenE of a Martial ta~ir3g ot`>the Property, unities=$orro~set'
<br />and fender otiie3:vise agree in writing, There affair he applied to t.lie wins serureri icy this ?lortgage srsah propd3~-
<br />.lion of h© proceeds as i equsi tD that proportion which rite a3nouut of the suns secured ky this ~Iorbga~ ironic-=
<br />diate!y prior to tl;e.date of taking bests to the fair market ^alue of the Property i3nmcr9iately prior fo tke tlsfs of
<br />taking, with ~e ba}ance of ttie proesens paid to Borrower, _
<br />If-the I'ro;?erGpia? abamlenerl hy~ KDrrower Dr_i? rafter notice by I.ent_er En 5arroefe[ that fire condenteor airs -
<br />t0:6'?at='i Fait ~aw3r~5Y S°t_IC 3 Cla3*nfDr iiaR;agC3,BDYrawCr fa116 LV respttnd'tO LEildei!-within 3U;~days of the date'
<br />Df {3L'Ch nUt3Ce~ ji.'.pdPY 15 attC}tD77Le(i tU F,alleCt And apply the IlrOCCedS }it~LCndez?a apLlan-'e3tk$r'tu reabaratlan=ar
<br />repsirof tke Property onto t1leaumsseeured by ~Sis \lartgage.
<br />Unless Le3tdor and Borrower rtl;cra•ige agree in writing, spy soak app&astian of proceeds to principal shelf
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