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If under paragraph I8 hereof the Property is sold or the. Yroperty is otherwise acquired by Lender. Lender
<br />shall apply, na later than irnmediately prior to the sale of the Property or its acquisition by Lender, any funds
<br />held ity Lender at the time of application as a credit against the suns secured by this Llortgage.
<br />3. Fapplication of Fagm~nts. I7ntess apl>licabPc. iMw tcrovides otherwise, all payments received by Lender
<br />ui3der the iVote and paragraphs i and 2 hereof shalt he a{tpiierf by Lender first in payment of amounts payable to
<br />Lender h}• Harrower under-paragraph 2 hereof, Liiento interest payable on the ?Vote. and nn Future Advances, if
<br />any, and then to the principal of the emote and to the j~rincipal ai Future Advances, if env.
<br />d. Ghgtrges; Iaens. Borrower shall pay,all trixes, assessinenfs and other charges, fines and impositions attrib-
<br />ut#tble to the Property which. may attain a--priority_avr:r Phis i~Iortga~e: and geaund rents, if any, at Lender's
<br />f,..,1 3ptiva iE~ tl;a ~-raa. pro~idt~ tirt;ar paaagrafsh ~ I~i°ee r,- t3~ I~orrower ctrtt~iag ~raynient, a+h~n due, directfy to
<br />~ the payee thereo€ :$ormwer shall promptly .tarrueti to J cn~ier all notieES of amounts due under this paragraph,
<br />and in t}ie eYentJ3ormwer shall make pay~irer drrectr} l~r}rrower sisall promptly furnisU to Leader-receipts evi-
<br />~ deneangsueh' payments.-$ormwer shall pran,pt' icei~argu any' lien which has-priority over this 14lortgage; l?ro-
<br />~ vided, drat l3orrowsr shalt not be xequirecl to 1 charge anti such lieri so fang as $orrower shall agree in tcriEing to
<br />~ the payment of the ahligation secured by sueic teen rs ai manner acceptable to Lender, ar shall in good faith contest
<br />Buell lien by, or defend enforcement of such lien in, legal i~roecedings which operate to prevent the enforcement of
<br />the }ten or forfeiture of the Property ar anp-part thereof.
<br />t20 "5: Eitrzard Iasauamce. Borrower shalt keep tl3e improvements nasv existing or hereafter erected on -the Pimp-
<br />- t`" arty' insured agafnat Posy by fire, hazards inehided ivithiii the term "extended. coverage", and such other hazards ss
<br />Lender may require-and in such amounts and for such periods as ;.,ender may require; provided, that-Lender shalt
<br />nzit require that-the amount of sash coverage exceed that amount of coverage required to pay the sums secured'by
<br />this )tiartgage,.
<br />The insurance carrier providing the insurance-shall he chosen by Horrower subject to approval by Leader;
<br />provided,; that such approval shall not be unreasonably withheld. All premiums on insurance- policies shalLbe paid
<br />at Leader`s option in the manner provided. under paragraphs 2 hereof or by Borrower making payment, when .due,
<br />directly 4ao the insurance carrier.
<br />3n the event any policy is not renewed on or before ten days of its eapiratfon, the Lender, to protect
<br />its iaiter~t, may procure insurance on the improvements, pay the greiniums aad such sum shall lieconse
<br />inrmediately due and payable with interest at the rate-set forth tai said Hate uatil paid and shad. be
<br />secured by this ivlartg~ tgc. '::lure by Borrower to comply may, at optirsn of Lender, constitute a default
<br />'rider the t@r2r18 of tf3i! ~ Mortgage.
<br />All insurance policies and renewals thereof sha}i be in four. acceptable to Lender and shall include a starciarcI-
<br />mortgage clause in favor of and in form acceptable to Lender. Lender shall -hays the- right to hold the policies and
<br />renewals thereof, and $armwer shalt promptly furnish to Lender-ail renewal notices and alt receipts of. Paid-pre--
<br />micros. In the event of loss, Hormwer shall give prompt notice to t_.he insurance carrier and Lender, and Lender
<br />-may make-proof of Ions if not made promptly by Borrower.
<br />f3niess Lender and Harrower otherwise agree ir, writing, insurance proceeds shall be applied io restoiatitsn or
<br />repair of the Property damaged, provided such restoration or repair is eeoaomically feasible-and the security.oi
<br />this Mortgage is not thereby impaired. If such restoration or repair is Hai ecanomicalty feasible or if the security
<br />of this ~4ortgage worild be impaired, the insurance p.~oceeds shall tre applied to the Burns seemed Iiy tI?is l~ort~a~e:
<br />with the excess, if any, paid to Borrower: If the Property is abandoned by Borrower or if Borrower-fails to r~pana
<br />tar Lends; within 3fl days accer notice by Lender to Borrower that the insurance carrier ofl'ers to settle s:claim- for
<br />insurance benefits, Lender is authorized to collect and apple the insurance piaceeds at Lender's option eithei• #R
<br />restoration or repair of the Property ar to the sums secured by this alortgage.
<br />Unless bender and Borrower otherwise agree in writing, any sash app&catlon of pmceeda to principal shall
<br />ate extend ar p~tpone-the due date of the monthly installments referred to in paragraphs 7 and 2 hereof or change
<br />- the. amount of such installments.
<br />If under paragraph 18 hereof the Property is acquired by Lender, alt-right, title and interest of Borrower in
<br />and. to any insurance polieier and in and to the proceeds thereof ! to the extent of the sums seEUred by This 14loit-
<br />gaga imnrediately p€ier to sseh sale or aequisltionj resulting from damage to the Property prior tcs the sale or
<br />acquisition shalt pass to Lender.
<br />6. Preearvatioa cad Nf~ntsnmsce of Prtsfmrty; I.eaaeholds; Condominiums. Borrower shall keep the Prop-
<br />arty in good repot and shall not permit or commit waste, impsirraent, nr deieriaration of the Property and shall
<br />comply with the prorisians of any lease, if this llartgsge is on a leasehaid. If this Mortgage is on s eondaminium
<br />chit, lor:~wer stall perform alt of Borrower's obligations under the declaration of couderniaiu:n ar mas'er decd,
<br />L#v fiy=laws and re~ ations of the condominium project and constituent detumerts_
<br />Piotactiaa~ Lendei s Security. if Borrower #aiis to perform the covenants and agreements can:°r•led in
<br />ihie ,tifortgage, or i€ any action or proceeding is commenced whielr materially affects Lender's interest in the Prrop-
<br />erty, iacltufing, but Hat limited to, eminent domain, insolvency, Cade enforcement, or arrangements or paviceed-
<br />tags involving a bankrupt or decanent, then Lender at Lender's option, upon notice to Borraarer, may make such
<br />ap~tnces, d~tsurse such survs acrd take such a:,tion as is neeesssry to protect Lender's interest, including, but
<br />net limited ts, disbursemeat of rP.a~rnable attorney's fees and entry- upon the Property to snake rspaira: Any.
<br />amounts disbursed by Landes pursuant to this paragraph 7, with interest thereon. shalt become additianai indeht-
<br />edsseas of Borrower secured by this iartgage. Unless $orrower and Lender agree to otter tarns of payment, such
<br />amounts shall be payable upon notice from Lender to Horroxer requestSng payment thereof, and ishalP bear inter
<br />eat from the date of disfiu_=semznt at the rate stated in ti:e :4ote unl~ paynsent ref intes~at st such rate would be:
<br />contrary to applicable law, in which event such amounts shall bear interest at the ~ rate pcnaisaible fiy
<br />applicable laiv. ;Vothirsg contained in tlvs paragraph r shalt require Lsatder to in~tr any erpe or do-.any,-set.
<br />hertsder.
<br />8. Ia~ec4at: Lender mzy -make ur cause io he wade reswnable entries up9n and i _af the gip-
<br />errs, pmvideii' that -Lender shall give Borrower notice prier to acv surly irispeetion speeifYissg a`pssaamble esirse
<br />therefor related to LettiPer'$ inf~r~t in the Prri~erty. ,
<br />9e ~oszdemaafiia>?: The p-orieeds of stay awhid ac daista far dames direct or eonsegcs~t~i, iw, option
<br />with any eanden?natan qr other takir~ of tote Pralrerty, or part thereof,: or for CanveyanEe in Iteu of cam#enms-'
<br />txin; rsv hereby assigned and shall be paid to Lender,
<br />In lire e~~ert of :: total taking of the Property, ttce !?mcPcrls sl'rsPllie atzp[ied to the surer eeeuaed by-this a~LArtr :.
<br />gage, witty the excess, if any, paid to Borran•er. In the event of a paE~r! taking of tl:e PsvilSerty;'unlesa Borrower
<br />acid 7.~ender atiterwiae agree in wrong, t?sere s;iall be applied to the suiu= secured 6y this ~Lortgage such propor-
<br />lion of thaproceeds as is equal to lust propnrtion which the amount of the sums secured by ts'ris lfortgeRe imme- ~_
<br />aiatRly prio. to the date: of taking bears to the fair market value of the Fxopert;~ imricedi:iteh prior to the da#,e of
<br />irking, with.rhs balance of ttse proceeds pniri tv l3ormuer.
<br />If the t roperty iii abandaeed by $orrower _ar if after notice by Lender to Borrower that the condemnor afFerr,
<br />to msice an toward ar Bettie x claim for damages, Borrower fails to respond to 3.ender within 3Q days of ti+e:dste
<br />2i sushuatice,.Lpnder isautharizad to eoliest and ~appty rite proceeds at Lender's ppiisan aitirer to reatorstiu'n or
<br />rape,ir of the Propaity ar to tL•e susne eei;~sred b} ti;ie ~loNcgage.
<br />TShiess J~:edei~ acd-Burrower otl!er:vise even us wrong; anf sueis:,apPlieation of proceeds ttr principal shall-
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