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If under paragraph 18 hereof the Yropert}• is sok! or the Property is athenvise acquired by Lender. Lender
<br />shall apply, no later Haan isnmediataly prior to iLre sale of the Propcrtt• or its acquisition by Lender, any Frmds
<br />held by Lender at tdre time of application as a credit against thr. sums secured be Chia Mortgage.
<br />3. ~gpliecction of Fagmeats. Unless al.pLieabie Iarc prYavides otherwise, all payments received by Lender
<br />under't_he iVOte and paragraphs-1 and 2 hereof haCl he aplriied by Lender fist is payurent of amounts payable to
<br />~ Lender lxy Harrower under paragraph 2 Itnreaf, then to interest payable ©n the ?Tote and on Puiure Advances, if
<br />~ any, and Then to ttre grsncipal of the Natr: and to the_prineipat of li'uture Aclvsnees, i€ any;
<br />~ 4: Ghargsasc;Lieas. Borrowerehall par: utt taxes; assessmen~ and other charges, fines and impositions attrila-
<br />~, utsble to the Prc?perty,wlich may aY•t~sin a i?riority dyer this ~Iartgage; and groursd .rents,- if app; at Lender`s
<br />,~ option-in the mAUner provided under is-.clog .rph = herer~i o• by Brrmtser rrraking;aayiient,, when dz~e, directly to
<br />,~ the pisyee thereof; Borrower shall prtalrsrsi,~ iurnrsh'tn i.eudar all`notices €sf smounis-due under° itris'paragraph;
<br />and in the event $orrowershall makc_;ra}~ment dtrectfi~ . Horrower shall promptly-furnish tg Lender receipts evi-
<br />deresrg ,uchlaay'~tPS .~. Bor'.-ewer shKlf nrnurli#.y drsclrs.rge any-hart which tras priority o;~r €his Mcutgage; pr©- -
<br />i tided, tl;aL Iiarrgwe ~}fall riot be required to discharge aixy such -lien sa tong as I3orrmver shad agree in .iciitiag Yxr
<br />the paynrecrr. of the apligacion seczared hl ,.felt lien itr a manner a.rceptable tea ~-ender, or shaft in gciod fault- confect
<br />s>€ch lien 6y, or defend enforcement. of such 9ien ir€, legal' proecEdings which operate to-prevent: the eti€tsreement of
<br />the lienor forfeiture of-the Property or any }iart:t.irereo€,
<br />3: I3aatircllsiaurmtae. Borrower shslL keep the i:npravemenis norv:existing or hereafter elected an the Prop-
<br />ertyinsuredagainst-loss. by fire; hazards included githin the term "extended coverage", axrd such -other hazards as
<br />Lenderinay requite acid in sactr amounts and for suei± periods :~ L enctei may requito;.gmvided-that Lender shalt.
<br />z not require that.the amount of such coverage exesed. ttrat amount of coverage required: to pay the soma secured "by
<br />tLsis 1tiEurtgage.
<br />The insurance carrier providing the,igsurarree shah Tae chosen by Borrower subject-ta approval by Lender;
<br />provided, that such approval shall not be unreasonsbty withheld. Ali premiutns an insurance policies shall be paid
<br />at Lender's option in the manner pro~zded under paragraph 2 hereof ar tiyBorrower making payment, when due,
<br />directt~ ~-the insurance carrier.
<br />' In the-event any policy is not renewed pan or before ten days of its €xpiration, -the );..ender, to protect
<br />i`a interest, may procure insurance on the improvements, pay the premiums and such .sum shaII become
<br />immediately--due and payable with interest at the rate set -forth in said- Hato until paid .and shall- be
<br />secured by this itSartgage Failure by Borrower tea comply may, at option of Lender, eanstitute a default
<br />under the terms of this Mortgage.
<br />nIi insurance policies-and r•€newats thereof shall tae in farm s~erwsble ice Lender ar.d shalt include s s`~trdard
<br />mortgage clause in-favor of and in farm acceptable to Lender. Lender shall have the right to hard the-policies-cud
<br />renewals thereof;: and Horrower shalt promptly furnish to Lender all renewal notices and all i`2ecipts of.gsid_pre-
<br />miu~s. In the event of lass, Horrower shall give prompt notice to the insurance carrier and Lender, arid-Lender
<br />majr make graof of loss if not made promptly ity Borrower.
<br />Unless 7.ender and-Harrower otherwise agree in writing, insurance proceeds shall 6e applied- to restoratiou.or
<br />repair of €he Property damaged; }:-avided such restoration or repair is economically feasible and- the securit;= of
<br />this i4forEgsge is not thereby impaired. If such restoration nr repair is not economically feasible or if the security
<br />of this Mortgage would be impait~ed, the insurance }araceeds shalt hr- applied to the sums secured by this Mort,
<br />with the excess, if any; ld:~ to Harrower. if the Property is abandoned Lzy Borrower or if $orrawer faits to respond
<br />to Lender within aft days after notice by Lender to Borrower that the insurance carrier caft'ers to settle a claim far -.
<br />sn~?*a±+r~ bQ*+efits, Lends-r ~ author to ¢olleot and. apply the insurac~e nr€aeeeds at Caroler's option ~itlrar t~ _
<br />restoration or regair of the Property or to the sums secured by this 1lartgage.
<br />Uarteas Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall
<br />not extend ar pastpoae the due date of the monthly instaLltrients referred to in garagraghs l and ~ hereof or change-
<br />th_ a su[rourit of such in$taliments.
<br />If under-paragraph I8 hereof the Property is acquired- by Lender, alt right, titre and interest of Borrower in
<br />and. to any insurance policies and in-and Ya the proceeds thereof {to the extent of the-sums secured by this Ivlort-
<br />gagc:_immediately prior to such sale or acquisitioni resulting from damage to the Property prior to tdre sale or
<br />sequisitian shall pose to Lender. _
<br />$: Preservetioa cad Maintaaance of Pr©pezty: Leaseholds: Ccndamiai~. Borrower stroll keep the L'mp-
<br />arty in goad repair and shall not permit ar commit wa.te, impairment, or deterioratSan of the Property xwd shall
<br />caimply with-the provisions of any tease; if this _l2ortgage is on a leasehold. If this Mortgage is on a condominium
<br />unit, Harrower shalt perform all of Borrower's obligations under the dec:aration of condominium er master deed,
<br />the lay-law's-and regtttatians of the condominium project and constituent- documents.
<br />?. Proteci%an afr Lender's Security: If Borrower fails to perform the covenants acrd sgreemerits contained Sn
<br />this Mortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the Prop-
<br />arty, Including; foot not Limited to, eminent domain, insolvency, cads enforcement, or arratzgements.or proceed--
<br />. inga involving a bankrupt or decedeat, then Lender at Lender's option, upon notice to BormFUer, may make sue4
<br />appearances, disburse such sums and take such action as is necessary to protect Lender's inter,at, isialudiugr but
<br />Writ Iiritit~d to, disbursement of reaser;able attorney's fees and entry upon th8 Property to- make repairs: ctny
<br />afriouats disbursed by Lender pursuant to this. paragraphs 7, with interest thereon, etrall become. additional indibtc
<br />sdnesa of Horrower secured by this l~Iortgage. Unless Harrower and Lender agree to other terms crf pay mew; such
<br />amounts shall lee payable upon notice front Lender to Harrower requesting Payment thereof, and shall-bear inter-
<br />. eel fzom the date of dsbuiseernent at the rate stated in the Ivtate unless. payment of ifrtetvst at such ratz would bg
<br />contrary Ga, app}ieable law, in which-event such amounts shall bear interest at the highest-rata permissible b3`
<br />applicable taw. Nothing contained in friar parxlgrapls 7 shall require Lender to incur 8ny expense or do -any act
<br />: Iteder:
<br />$: Initlon. Lender nay make or cerise to tie made'reasonsble entries upon- and inspections of the Frag•-:
<br />ertyr pT'ovded that Lender:shaft gii•e Borrusrer naYiee prior- iv -any such inspection: apeeifying reasonable cause.-
<br />therefm• related to LQrder's interest in the I'moerty.
<br />'I. Cosidemnutica. The praerzcls of any arvsrd or claim for darriages, dirnet yr cansequentaaJ, in eenneetian
<br />p,irh Yry c¢nd~r~ttiar_ o,• o*her ierng o'. hr P*eperty, er Tzar? ttr~reof, m~ for coni~e}•anee in_- lieu of candeanna-
<br />tics, are hereby czss9gned and shall 1>e paid to Lender. ~ -
<br />In the event of a total taking of the Property, the groceeds sh W ii I,e applied to the sums secured by this D4ort-
<br />~, n•;tl, +he ~ _ ;r A -• pAid fo u_rn;~ver: I» ttie a•,Pr_tof r= pe~;si taking of-the ~rogertyYunle~~arrorver
<br />ar,3 Lender otheaar.e agree in a~ritang, there shall he applied to the soars sccureri ley 1hs'e Mortgage such pmpor-
<br />tion of the urocaeds ss is equal io thatpraportion which. flu atnoust of the sums secured by this '-t3artgage imme-
<br />diatetyprior to the hate of taking bears to i:hc fair saSrket. slue of .the Property immediately prior to the -date o€
<br />talril~g, +'?i«h the Lalarc8 of LhE proceeds paid to Borraw~er:
<br />If th, Propertgds <~tiandoned by Borrower ar it alter notice lry Lender to Borrnrver thAt the-condemrrar nffeaz;
<br />to make ctrl asvxtd nr settle a eiairr for dsaxiages, Borrower ia9e to rr~pond to tender --~eit6i€c 3€f~iays of the data -
<br />af such na*.,iee; I.errder is suthorixed o collect ant aplily- the T;roveeds uL Lender's option either-.tar restore#ion or
<br />regair of the Property or to the susna secured by thi.4 `Iostgage.
<br />Unless I;~nder and 7~orrcwer othern ire agree fir n~riting, aay such application of pmeeeds to principal shalt
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