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If under paragraph 1$ hereof the Property is sold or tixe Property is otherwise acquired try bender, Lender
<br /> shall apply, no later tbaan immediately prior to the solo o€ tltc Prapa•ty or its acquisition by Tender, any T'unds
<br /> held by Lender at the tnnc of application as a credit against- the sums xecured by tabs Mortgage,
<br /> 3. Application o! Payments. Unless ap;iiicable lacy provides otherwise, all payments re,^,eivcd by Lender
<br /> udder th2lvTote and paragraphs 1 and 2 hereof st,ajl be a{ipheci lry I.endar first in-payment of amounts paysble to
<br /> flsndet by Bcrrawer-under paragraph :? Hereof, then to interest {sayatla art thn Note axzd on Future Advances, if
<br /> any, and then to the lirineipal of the I+iota anii fa the principal of Pasture Advances, tf':any,
<br /> ~. ~hargssISe~. Borrower si,alt pay sJ1 taxes, assessinents sod other charges, flees and impositions attrib-
<br /> utsbie,ta the Property which may attain s prznrity over fbis tifartgage; and grautid rents, if any., at Lender's
<br /> Ol;1iu„ i.i urcinzsccnerprscrrtded under jrsraiKr:s},~~ Z ,ieruaf ar b3.-asarrovfier rrtak~ng yiagtuenc, ivnen one, cireauty to
<br /> tlfe naves fatereof. $arracver shall toromptlyfu~;u~li to r~rxder all notioes of amounts dna rider this paragraph;
<br /> and ir. +he cvent.Borraiver shall make psy;neui ~ r yeti}•, Barra;Yer shall promptly. furnish to-Lander rzseipts cvi- `
<br />~ deacingsuah gajmeatts. Borrower shall promptly discharge any lieu which has priority over this Mortgage; pio-
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<br />'~ sided, tixat Borrawerslialt not be requimd to"di_chaigc easy suelr lien so
<br />long as $orrower shalE agree in writing to ,
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<br />~ bite pagreieut of th€: ob[igatian secured by such fie;, in a manner sceapta6le tc 3Jander.gr €#xalt in good-faith contest
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<br />' suoh-lien by, ordefand 8nforcement o
<br />~ricL lieu n~, Iegat ;'rroceedings which operate to prevent the enforcement o€
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<br />~ the Heir orforf~tture of the Property ar an,~ frost thereof.
<br />'""' $. Fwd Tiisvrmsee: Borrower !fall keep tlxa itiiprovetnents now existing ar hereafter erected on the Prop-
<br /> zrGy insured against-loss h~: fire, haaaid5 inelu_ded wifhiif the tergn "exteadad coverage", and stick other hezards as
<br />t~ Lander may rec}uire :and iri snrt< <fmvu=~t~ ease{ for such periods as Lender xuay regnlre; provided; that Lerisler shell w
<br />~ not resguire t~atta,e amount: of suck cos crag, exceed that, snwunt of coverage required fo pay the sums se©tued`by ~
<br /> this Mortgage. -,'
<br /> The instzrancE carrier providing-the insurance shall be chosen by Borrower subject to approval by Lender; l=
<br /> provided; thatauoh approval snail net be unreasonably withheld. AlI premiums on insurance policies shall'be-Paid
<br /> at Lender's option in tlxe mannerpravided u>xder paragra;iH 2 hereof or Hy Borrower making payment; when dne,
<br /> directly to the insurance carrier.
<br /> -lat. the event any„policy is astir renewed ann or .before-ten days of its expiration, the Lendea, tq protect
<br />- its interest;,.may procure insurant~ an the improvements, -pay -the premiums and such sum shad-become
<br /> iuatnediately due-and payable with interest at .the rate .set. forth in said note unt51 paid- and shall:. be ':
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<br /> secured by this Mortgage. Failure by Borrower to comply may, at option of Lender, constitute- a default `
<br /> under the terms of this Mortgage.
<br /> ill inanranee policies-and renewals thereof shall be in farm acceptable to bender and sliali incitide a standard.
<br /> mortgage clause in favor of and.in iarni acceptable to Lender. Lander shall have the right to h+sid the poticie~ aiid:
<br /> renewals thereof, and Borrower shall promptly furnish fo Lender all renewal natacas and all reeeipfs of paid pre-
<br /> miums. In the event of Ions, Harrower shall give prompt notice to the insurance carrier and Lender; and. Lender
<br /> maymake proof-af loss if not made promptly 6q Borrower.
<br /> Unless Lender and Borrower otherwise agree in writing, insurance proceeds shell ba-applied to restorataan:or ,
<br /> repair of the Property damaged, provided such reskaratior. or xEpair is ecanomiesIly feasible and-the security of
<br /> this sYlaatgage is not theretry impaired. If such restoration or sepsis is not economically feasible or i# the seeuz.~L,
<br /> of tlxis h3artgage r:outd = - --npaired, the insurance praezeds snail ba applir~l to tltesums secured by-this ~artgagE;
<br /> with the excess; i€ any, paid to Borrower. If the Property is abandoned by Borranrer or if Borrotvec fails'tti respirod
<br /> to Lender within 3tl slays sfter native by Lender to $orrower that khe insurance carrier offam to settle a .laim for
<br /> i-laurnuee laenefits, Lender is authorized to collect and apply the insursnce proce~ls at Leader's option either to
<br />- reBtiH'a.EiaA 4r-repair 82 the Property Or Ca t13e Sirm3 secured by this Slaa#gaga_ - - -
<br /> Unless. Lender and Borrower otherwise agree in writing, any such application of proceeds to prinoipal shall
<br /> rto~ extend or postpone-the due date of the monthly installments referred €e in paragraphs 1 and ~ hereof or change
<br /> the saaotiAt of such inskaIimen#s,
<br /> ii ;andzr ps~ragraph -2$ hereof-the Property is acquired by bender, s1I right; tit3e-and interest of $orrovvet in
<br /> and trt-any iasursncepalicies and in and to the praee°ds thereof (#o khe exfent of the ~.rms secured by fhis 3JLort-
<br />-y
<br />gsge;immctiiafely priorko.-such Sala or aequisitioni resulting from damage to the Property prior to tie ale or.
<br /> aegtuaition shall pass a_~nder.-- --
<br /> 8: 'YreoeztraSoa and MMaiaateaQUCe of Property; Lsasehalds; Coado>ainiums. Borrower shall keep the Prof-
<br /> -arty in-good repair and shall rot, permit or commit waste, impairment, or deteriaratian of the Property end shall
<br /> eoan~ly ri<ith-the provisi©ns of any lease, if this Mortgage is au s Iea.IIehold. Ii this ivlartgage is on a condominium
<br /> uuit,_Borrawer slaalI perform ell of Borrower's obligations under khe dectaratiou of condominium eir master deed,
<br /> the b~!-laws arid. regulations of the condominium project and constituent documents.
<br /> 7. Protecifsn of IeeAder's Security. Sf Borrower fails to ;rarform the covenants and agreetnents contsi~ in
<br /> this ilfortgage, or if any action ar proceeding is commenced which materislly affects Tender's interest in rho Prop-
<br /> arty, including;=lent not }united ta, eminent domain, itxsolvancy, coda enforcement; or arrangetnents of pmtx~ed-
<br /> lases involving a bankrupt ar decedent, t"non Lender at Lender's option; upon native to $orrower, may suaka such
<br /> appearances, disbvraa such sums and trsl;z suoh aotian as is necessary is protect Lender's interest, incltxling; but
<br /> :li-ait~d tar dastaur~mant o: rec..=asst+le xttrrrnEy's fzes and entry -upon the Praparty,to. make-mias__~riv -
<br /> amount~ disbursed by I.ezxder pursuant ko this paragraph T, avitli interest thereon, shall.beaome additionalzui6bt-
<br /> edp~s of Borrower seeursd.by this Mortgage: Unless Borrower and Lander: agree. to other terms- of paYrntnt~ -each
<br /> sn;au~its-shall }~ payable uptsn notice from Lender to TSarrGwer requestmg payment thereof, and shall.bear inter-
<br />. est from the date of disbutscment at khe rate stated in the Nata unless payment of interest at suoh rate wavld be
<br /> aoatEra~ m applicable Iaw, in which event such amounts shall bear interest at the biglaest-:rate permissible b,-
<br /> apgliashie law. \othing eonkained in this paragraph ?shalt require Lender to incur am expense or do any set
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<br />8. Lender mag,malte
<br />r
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<br />ca
<br />ttse to tra tnadc reasangbla ,~rifries upon and in~spectious of the ProP-
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<br />$,, ~~-'t3'SL ~.#'rt€1Ca`-snall.ve ~OrrS9CCL.2H34kCa. prof tts_.enc Skinh lnnpeatFUn speClly;ng rP,aSGn&bte l:altSe
<br /> tc#€~ sgtsted tat 3~zi?er's€ inter: ins tl~ property.
<br />- ~. The pxdc>~ds of aziy acuaFtl or claim ±or damages, direot or consequential, in eonn2etion
<br /> with shy candeznristiGn or oth4m'takuxg of-the Prrniert~~, or part thereof, or for convFyanre in lieu o1 condQmna-
<br /> tan, tu'e perw.try sssixtxed and Shall #te field to Lender.
<br /> fn the event o. s rata{ taking of t'.ie Property, tt:e }}abeeeds aha11 be apyrlied to the sums secured by this tSort-
<br /> gegr, tsith the ~cx~s. if say, paid ko Borxmver. Fn the event of a partisl taking of the Property, unless $orrower
<br /> xatd Len2ar otherwise spree rn writing, there slxsll fie.ap{shed to the sows secured by this Blortgapa suoh propor-
<br /> t.~n cf the praxis as is egt:sl tir flier proportion which.the ai>;onob of tlxe soma >acurFd by this ibfortgage imme-
<br /> dastelypri~rta the data-of faking bears to tae fair cnxrket value of rife Property immediately prior to the date of
<br /> taking, witlitdbe believe of the proceeds paid to 8crriewer:
<br /> of the _-n'p~ty i; a.bsndcned by Bor:aner yr i€ nft::r -i..tiee by I,er_der tc; Harrower that tite.candemAOr o$ers>
<br /> ::> sonic sn Rxard er settle a claim fcr dsmsges; I3o,rawar iaiia'to ,~?ripoted to I,eAder within ~# days of Che ciste
<br /> of sndt notice. L+~rder ie autl3oricec9 fG cotiact anfT ap}xly 1;e troceeds at I,endar's_~ttiun either `w cestoratioh or
<br /> lepais of toe Property or to khe nuns secured by ibis 31m•tgage,
<br /> 2inleae Lender and BorrG;va other«ise agree in,writing, any sash application of praaeeds to principal shall
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