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<br />If under paragraph IS hereof the Prolzarty is sold ar the Property is otherwise acquired by Lender, Lender
<br />shall apply, rza later than irnmediaiely price fa the sale of the Prnprrty ar its acquisition izy lender, any Funds
<br />held by Lender at the tune of application as a creflit against t}tc sums secured by this 'Mortgage.
<br />'~?~' 3. Xpp}zaation of Payments. Lnless applicable laic pavvides atltenvise, a,l] payments- received by Lender
<br />l~ under the Note and Iaaragraplzs 1 and 2 Iterieof shzill he alKstieti key Lender first in payment of arnaunts payable to
<br />~i Lender by Borrower under paragrapiz 2 hereof, thenta interest payable eta £he itiote and on Future ~kdvanees, if
<br />Td any, and then to the principal ot" the i`lote and to flee principal. of Future 9dvance --, if any.
<br />CS 4. CkstrSee: Meas. Borrower slaslT pay al] taxes, asses~taients and nther.charges, fines and impositions atGrib-
<br />;~ utsf3le to the Property whfch may attain a priority aver this- llorttgage; arid- ground rents, it' any, at Lender's
<br />option in the mange; provided under paragraph 2 hereof or by_33vrrower_-rii$king payment,- when-due, directly to
<br />i t~-pay the-°~f, l~°•ra :2r-shs=l prcrsr:tly urniah tti Lendor-alI ;tetser_.=~,f axnountn<dire under this-Paragrapfi>
<br />oCi- and in the ererzt Harrower shall make payment dtreetly, Barraccer .[,u71, larumptly furnish to Lender receipts evi-
<br />T`~1 dancing ,ach.pavments, Borrower: shall protaptiy disetarge any. Lien ~+•ltieh has-priority= over this: Vlartgage; Peer--- ~'
<br />vidzt?, Chet IiotTOwer shall not be required to diseitsrge any stroll-lien sn long as Harrower shall agree in writing to
<br />ihr_ p:tyna,,ntef the ohligataon :.eeured-by such Iien in a manner atceptsble t3 Lender; ar shall in goad faith ctrntest
<br />such lien hy: or defend enforcement of -such- lien in, legal proceedings wlaiela aiaerste to preveni -the enfareernent of
<br />the lien ar forfeitirre of-the Prapertr or any Bart thereof.
<br />Sr fl~azurd Iasureatee. Haarrower shall- keep the iziprovemerits now- existing or hereafter ereci;ed oa the Prop-
<br />eery insured against loss by free, hazards ineIuded within the term "extended coverage"; end such other hazards us 7i
<br />Lander may t'egnire snit m sneh amounts ani far suelt periods as Lender may require, provided, that Lender shall -
<br />npt requirEt.tzat the amount of such coverage-exceed filet amount of coverage required Go pay the some seeured'hy-
<br />`' than Mortgagee
<br />. 'd'he insurance carrier providing the insurance shall be clansen by Borrower subject-to approval by LenEler;
<br />provided, that-such approval shall not: be unreasonably withheld. ~tll premirmrs an insurance policies shall be paid _ ~_
<br />at Lender's option in the manner provided under paragraph 2 hereof or by Borrower making payment, when diie,
<br />directly to the-insurance carrier.
<br />In the eveart any. policy, is-not renewed en or before- ten days of its expiration, flee Lender; to protect
<br />its interest, tray procure insurance on-the improvements, pay the gretniums and such stun shall become t
<br />imr~diately due- and payable with interest at the-rate set -Earth in said Bate until. -paid slid: shal'it be
<br />secured by this Mortgage. Pailnre by Borrower to comply rnay, at option of Lender, coastitttte a default '
<br />under the terrris of:this Mortgage.
<br />RU-insurance policies cad renewalsthereof ~ha}l he in-farm aceeptalrle to Lender-and obeli include s standa~
<br />aortgage clause in favor of and in form acceptable io Lender. Lender shall hero tl:e right to hold the paiietes -and-
<br />re;rewals thereof, and Borrower shall promptly furnish-to Lender all renewal notices and all receipfs of paid pre- -
<br />miurns. Irt the event of lass,-Harrower shall give prompt notice to the. insurance carrier and Lender,.anil Lender
<br />may make proof of Iris if not made promptly ley Horrawer.
<br />Unless Tender and Borrower otherwise agree in writing, insurance proceeds shaII be applied to restoration or
<br />repair of the Property damaged, provided such restoration or repair is econamieaily feasible and the security of
<br />this';l~iortgage i$ not thereby impaired. If -such restoration ar repair is not economically feasible or if fire security -
<br />of this} ~iartgaga-would ba impaired, fire trisnrance proceeds stall Iia applied: tc the -sums secured" by tltia i~ort;;:.a~,
<br />castle th~ex, if-any; maid to Parrowea•.-lf the Property is abandoned by Barrativet or if larrower fails to resptrrzd
<br />to7~;zdtrwithin 30 days after notice by Lender to Borrower tlaat.tha insurance carrier offers to se.*tle a claim for
<br />insuraacebenefrts Lendea• is authorized to toiieet and apply the: insurance-proceeds at I:endar's apti?i?her to
<br />restoration or repair of the Property or to the sums secured by this 3lartgage.
<br />IInle~ Letuler end Borrower otherwise ogles in writing, any such application of proceeds to principal'shall
<br />net mttenu ar postpone Gha dzie date of the rnbnthly installments referred tci in paragraphs I and 2 Hereof ar,ehauge
<br />theaztiount of such itrstalimeats.
<br />If utider'psragraph 1& hereof the Property is acquired by Lender, all right, tiffs and. interest of Borrower=iii-
<br />aErd ttiany ixtsuiSnee polities-and ifl end to the proceeds thereof 4to the eA~nt of the sums secured by this Alert-
<br />gage -immediately prier to such sale or acquisition t resulting -from damage to the Property prior. to the sale or
<br />aequi€** shall pass to L-endor.
<br />5. Ptesarvraz~on-aiui M ' of Prapert~*: Leaanfinlds: Condominiuazs. Borrower shall keep-the Prop-
<br />erGy in gaud repair and shall not-permit or commit w: ate, impairment, or deterioration of tine Property end shall
<br />comply with the provisions of anq lease, if this ~fartgsg~ is on a leasehold. If this Mortgage is an a eondoatiinitua
<br />uniC, Botrocver shall perform all of Borrower's abligstions under the declaration of condominium ar master deed,
<br />the by-leers itztd-regulations of the c~ndo_minium project and constituent. daruments.
<br />7, Ikotgsfi+,ts of I~ssder s purity. If Ptarrower fails is per#arm the cavanants and sgraements cantaimed in
<br />this Lfor#~age, ar if any action or proceeding is commenced which materially affects Lender's interes#. in the Pr~p-
<br />erty, including, but not IimitC~st to, emiaent domain; insolvency; code- enforcement,. or arrangements ar proceed
<br />inga involving a bankrupt or decedent, than Lander- at Lender's option, upon notice to Borrower, inay matte such
<br />appearances, dislturse such sums and take such action as is necessary to protect Lender's- interest, iuehrding, but
<br />trod tatnited ta, d~lturaenrtnt of -rsNsonsble attorney's. fees and entry upon the Property: tci taake rep~ira. Atiy
<br />~rortnte disbursed by Lender pursuant tti this paragraph T, frith interest. thereon; shall become- aaiditional indelrtr
<br />edr of l~otrerwer seenred_hy this Mortgage. Unless Borrower and Lender agree to other tetsns of ,,aynietrE, srtch
<br />amormts shall he psyaliie-uI?oa notice from Lender to Stirrawer requesting payment thereof',-and shall besx inter: _, .
<br />ast from 2lte date of diehursement st the rate stated in fire Nate unless payvierit of interest at such rate would- be
<br />cotttrxr~t to applicable taw.; in evhich avant sueii amounts shall boar interest at tire-.highest rate perazrissibie by
<br />applicable law, ;lrrtlaitg cantaineci iza dais paragraph 7 shall require Lender to incur any expense or do any act
<br />1~•eztader..
<br />8. Tatt3aeeiivn. lender ms}• make or eau.-e to he made reasonable entries upon anti insliertions of the :Prop-
<br />- arty, provided rhos Lender .hall give Borrower rrat~CC,laar7or En _any suety iatsptetton specifying ressoaalzle cause
<br />tluerefar related is Lender's inierzet in the Propertjr.
<br />8. isaadarnuaiioa. .1'he araceadr. of any award oe cIsitn f~tr dar_ direct or cansequetitial; in rennection
<br />with aEiy ao::deernation cr• othe^ taking of the Property, ur hart tlzereof~ or far conveyance in Betz of condetnna-
<br />lion, sae Hereby a_csigned and shall be paid to Leader -
<br />in the event of ,~ fatal taking of the Property, they proems-whall [,e applied to ttse sums secu_*ed h}° this. Mort-
<br />. gage, arith the eeceis, it any, paid to $orrower. in the xvent of a nattier taking of the Property, unle~ Borro~ir
<br />and T,endor otherwise agreena writing, there s}loll be xpplier; to the auma secured by this \4ortgage strah ptopar-
<br />tiori d: the grai-cede as is equal to that pmpartian which the ama;mi of khe scans secured by this 1>,tortgage imme-
<br />diataly E ~'r6f to fire date of taing bears to tlzc fair matitz~t value of t!te Property immediately prior to the date of
<br />taking; ?-ith tlie ~,alance of the praeeenm paid tp Borratrer.
<br />If = Yri:;,arty is sia;idune~i by ~orraaser ar if afiar notice tr{ I.emier to Borrower Ghat the eandentnor effete
<br />to m~k:- a++ n~~~ar+i ar-seine a claim for damages, Borrower :ails to refipond to Lender wit~tin 30 da;s of the dots
<br />04 sucii nutice; i.enciet is authorred to collect and aplily the ixuceeds at l,aitder?li option.eitlx±rto restasation or
<br />repair of the Property or tea the errors secured. by flare Mortgage. -
<br />tisless Lender and 13arrratXer otdieezTriac egret ur ~rrittr~, arty shah: applxcatfan of praeeeils to principal shall
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