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<br />If render paragraph 18 hereof the Property is sold or the Property is otherwise acquired by Lcndee, Lender
<br />char! apply, no Inter titan immediately prior La the Hato, of the Property or its acquisition by Lander, rang Funds
<br />held by Lender at 'the time of application as a credit agztinst the sums secured by this Zlortgage.
<br />3. Appi6eotian of Payments, Unless applicable Inav provides otitercvisc, elf payruents received By Lender
<br />under the'_~ote and paragraphs l and 2 hereof shall he applied 1>v I.ende~ tirsC in nayatent of amounts payable to
<br />Lender By Borrower under paragragla 2-hereof, tltetr to interest payable an the :tiFOte and ran Future Advances, if
<br />any, attd then to the principal of the-Nate near to the principal of l3'uture Advan~~es, if a y.
<br />~: urarccgesz aims. Horroaver shall pay'at! taxes,-assessments and other charges, fines a=-ad impositions attril-
<br />ut_able to } he Fmge_rty ,~+rlateh ~y _z~a.in a ,I?*.or.ty aver +h s-~.~rtg~ , sect grvurd rats, if -any: at Lender's
<br />eptian in :.he ms-artar gz~vided under paragraph 2 hereof or by Bormwer making Iraymeni, when due; directly to
<br />the payee thereof: Barroxver shall pra•mp!;ly"#uriiih to bender alI notices of amounts due under this paragraph,
<br />p~ and in the event Borraxver chair make payrgent directly, Borrower shall promptly furnish to Lex3deC receipts evi-
<br />~ denejng such payments. Borrower shall promptly discharge any lien which-has priority over tBhs lfartgage; gra-
<br />~ vide.€l;-that Borrower shall not Be required to cliseharge any such lien so long as Borrower shall agree in writing to
<br />~ the payment of the oBligation secured by-such Tien inn manner- acceptable to Lender, or shall in-gaol faith contest
<br />,~ such Lien By, or defend eaforeemant of-such Benin, Legal praceedircgs which operate to prevent the enforcement of
<br />~ the-lien nr forfeiture of.tiie I'raperty or an}• hart thereof.
<br />`5 'Hd I~taramse: Borrower shall kedl} rite improvements taow zx-fisting ar hereafter erected ag ihP Prop-
<br />~ erty insured against lixss by fire; hazards included within the term "extended coverage", and such other hazards as
<br />g Lender may requim and in such amouxats-and f,r curl per=ads as Ir,nder n:ay rcq;:irz: z,ravided, tf;at Lendez s,'xati
<br />not rtgture that the amount of-such coverage exceed that atnouni of coverage required to fray the-sums secured'by
<br />titre ~Iorsgage.
<br />i'he insurance carrier providing the insurance shall Ire chosen by Borrower subject to approval by Lender;
<br />provided, that such approval shall not be unreasonably withheld. All premiums an insurance paiieies shaft Be paid
<br />at bender's option in the manner provided under paragraph ?hereof or By Borrower making- paytiiert, when due,
<br />directly to the insurance carrier.
<br />In the event any policy is not renewed on or before ten days of its expiration,. the-.Lender, to protect
<br />its interest, may procure insurance on the imgmvementa, Fay the premiums and such sum shall becoate
<br />immediately due and payable vs~ith interest at the rate set forth in said note until paid and shaIl be
<br />secured by this tb4ortgage.-failure by Borrower to comply may, at option of Lender, constitute a default
<br />under the terms of this Martgags.
<br />A31 insurance policies snit renewals thereof sI ,3II be in forbx acceptable fo Lender and shall ine}ude a standard
<br />anortgage clause in favor of and in form acceptable to Lender. Lender shall have-the right to Itald tBe policies and
<br />renewals thereof, and Borrower sltalI promptly -furnisl to-bender all renewal notices and aH receipts of paid pre-
<br />miums. In the event of loss, Borrower shall give prompt notice to the insurance. carrier and Lender, sad Lender
<br />may make.proof of-toss if not made promptly By Borrower.
<br />Lxnle~ Lender-and Borrower otherwise agree in writing, insurance proceeds shall Be applied to restoration or
<br />repair of the Property damaged; provided such restoration or repair is economically feasible and the security of
<br />this.~ortgageis eattlieraby inxpaired. If sueB restoration or repair is- not ecottomicslly ieasibie or if the s~uriey
<br />of this Islartgage would i,c .axpaired, the insurance proceeds sltal3 !se applied to the sums secured by thvt ltlartgage,
<br />with the execs, if-any., paid tr Borrower. If the Proper-v is abandoned by Borrower or if Harrower fails to respond
<br />ral,ettderwichin :If3 days after notice by Lender to Barrawer titatttte insurance carrier offers to settle a claim for
<br />insurance Benefits, Lender is authorized to collect and apply the insurance pxreueeci, at Lender's option either to
<br />restoration or repair of the Property or to file sums secured By this 3iortgage.
<br />Uiitess Lender and Borrower otherwise agree fir. writing, any such application of proceeds to principak shall
<br />nab extend ar postpaae-the due date of the maxttliiy installments referred to in paragraphs Z and 2 hereof or change
<br />rite amount of such installments.
<br />If-under paragraph IS hereof rite Property is acgttir-ed by Lender, ell right, title and interest of Borrower in
<br />and to any insurance palieies sad in and to.the proee~ts tixereaf ;t€t tine extent of iBe suu.s secured by this t~fbrl=-
<br />gaga immediaiefy prior to such sale or Acquisition) resuhing from damage to the Property prior. to tltesale tr
<br />acquisition shall pass to Lender.
<br />t3: Peeaerv€alion ~d tenmtce of PmperEy; %easeholds; Cotadominiums. Borrower shalt keep-the Prop-
<br />erty in good repair and shall not permit or commit waste, impairment, or detertorstian of the Property and-shall
<br />comply with the provisions of any lease, if this Jlortgage is on a I_?a_~ehald. If this ~rlartgage is cn a rondotniaittrr
<br />unit, Borrower shall perform ell of Borrower's oBligations under the declaration of condominium or master deed,
<br />the by-laws and regulations of the..ondominium project and constituent documents,
<br />7. ProEecticiu of Lander s Security. If Borrower fails io perform the covenants and agreements contained in
<br />this Mortgage, or if sny.aEtion or gmeeeding is commenced which materially affects Lender's int?rest in the Prop-
<br />erty, including, But. nor Iittuted ta, eminent domain, insoh•eney, code enforcement, or arrangements ar proceed-
<br />ings iraval;rag a -Bankrupt or decedent, their Lender at l,ende*', option,. upon notice to ~irocver, inay make suelt
<br />appearances, disburse saclx sums and take such action as is necessary to protect Lender's interest, including, -bet
<br />eat ilrrtitzd to; drsbnrsctttent.o£ reasanaBie attorney's fees. and entry upon the Property to make repairs. Any.
<br />arttuunts disbursed 8y-Fader pursuaut_to this paragraph 7, with interest thereon, shall Become additional indebt-
<br />edness of Borrower secured By this Rlortgage. Unless Harrower and Lender agree tc) other terms of payment, such
<br />ansountx shall Be pagaBte upon natieafcom-Lender to Barrawer requesting payment thereof, and shall bear inter» -
<br />e~, from the date of disBursemeet at the rate stated in the Note unless payment of interest ai-such rat,z ~vauld be
<br />ctt:*ttrsrs to apglicaBla I&~p; in wttiela event suclx amounts chair Bear interest at the -highest- rate permissible Isg
<br />applicable Ian: 1?othing con'~inect.in-this pat~ara;.It 7 shall re:luire Lender to incur-any expense or do any act
<br />hereunder.
<br />`$~ -Iaspmc3iesn. I~zndet tray taiake ar canoe to Be made reaaonaBIc entries upon and inspeetians of-the Yrop-
<br />erty, prodded that Lender-s1iall dive Barrawer-notice prior to any-such i~ispsetion speeifysng reasonshle csi~e
<br />t6er'efar relaterlt.o Lender < interest is the Property.
<br />~.' ianaeu>a-retina The proceeds of iany aevard or claim- for damages, dir!sGt or conseyuehfial, in cpainection
<br />with city, condemnation or other taking-af the Property, gr part thereof, ar.for ea?tveysnee in lieu of .cataderoxta-
<br />tisn, are hereby assigned and shall 1>z paid Lo.Lexider.
<br />In the event o? e total. taking of ehe Property, the Itioceeds shall kte applied to the sums secured By this ~iart-
<br />~age,with the excess, if acy, paid to $orrawer. In the bveat of a.partial tiag of the Propert}~, urrle3s $orrower
<br />Qnd"Lender otherwise agree. in wriiiag, thew shall be applied to the suns ~ettrxd by this Mortgage such ptropor-
<br />- tiara ci ~ha pretaeeds as is equR~bto thac nroportian which tl;e amount of the sulzzs~ured h}~ tti3s &iortgage imme-
<br />dtstel=,• prior to he :at-_ of tshiaK ors to the fair rnaricet value of -tire YtoperGy immediately ptiar to tBe dateaf
<br />tsrsrr.&, u't+.h t~ balat;c~vf tbe proceeds paid to Borrower.
<br />If ttte Pro~t~Lyjs aBandon2rf by $orrawcr or i# after notice try Lender ta.$orrower that the condemnor offers
<br />to make an award or settle a claittt for damages, Iorrower fails to.res};one to Leader warbler 3~ days of-the date
<br />of suela nv>:lce, Lcuuis:,; ;rv authorized to collect anrt apply the--praret~ ac l;,ender's option either to rstoration or
<br />repair of the Property ttr tae rite strrata_secrmeai bra this ~forGgRge.
<br />Cl~less Iamderand Borower.atherarise agree in wr'itiaag, any-siictt-appiieatiorx of proceeds-ta princigst shall
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