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If under paragraph 18 hereof the Yroperh~ is sotd or the Property is otherwise acquired by Lender, Lender
<br />shall apply, na later than immediately briar to tl,c sale of the I'ropcrty ar its acquisition by Lender, any Funds
<br />held lry bender at the time of application as sa credit. against the sums secured by tf:is Mortgage.
<br />3. f•Sgpsiccctiaa of Payments. Unless apphcanle IaR~ provides athervise, al{ payments received by Lender
<br />wader the Note and paragraphs 1 and 2 I:ereof shall be aiwplied by Lender first, i» payment of amounts payable to
<br />Lender try Hortower-under paragraph 2 hereof; thcsr to"interest pay>alilc o+_t rite Mote soil an Future Advances, if
<br />~ ai3y, and then't-0 the principal of the 1Vote and to the print>pal of Fnture "Advan~es;sf any.
<br />wti 4: Chai•gessT.oeas. Harrower shall pay all taxes, assessments and other charges, fines and inipasitions attrib-
<br />*~ arable to the Property cwhidh r!aay attain a priority over clris 14artga~e, and ground mats, if any, at Lender's
<br />-o~rtian in rice manner nmvided under paragraph ~ hereof or try ~4rroiver making payment, when-due, directly to
<br />tl->z pryee ter ~,~, .a*~ ~h°:: p.~,atly ,urtaisl= to r der all :~atl€€s of nmcunts duw :~dpr this garagrayh,
<br />.;.~ an€#in-the everrt $ocrostier shall make p-xymeni direetty, Harrower shall promptly furnish to Lender reBeipts evi-
<br />deneingsuch_ptiyments.~orrower Khali promptly. discharge-any Tien cvht_clt has. priirrity Deer this Mortgagee: eta-
<br />video, that Horrower shall not be required to discharge any such lien so long as "$arrawer shall agree in writing era -
<br />tbvoayment of the olrligatian secured. try suelr lien in a meaner asceptalrle to Lender; or snail hz gaud fa3tl! tai;f
<br />such lien t'y, or"defend enforcement of `such lien-in, legal praeeedings wlricl-i operate to prevent the en€orcement of
<br />_.^E the lien or forfeiture of the Property ar any part thereof.
<br />5. Y•Iazardlxtsurcmce. Harrower-shall-keep the nrprovements now existing or hereafter erected on the Prop-
<br />erty insured against loss ny fire, hazards inr,Iuded within the term "extended-coverage", and such other hazards as-
<br />I eeader rosy r~uitire rod in such amounts and- for such period. as Lender may require; provided, that Lender shall:
<br />~. not require that the atriount of-such eaverage exceed that amount of coverage required to pay. tha slims secus~l'by
<br />eels Manage.
<br />Tire insurance carrier providing the insurance shall be chosen Icy Borrower suM;teet to sppresval by bender;
<br />provided, trier such approval shall not be unreasonably withheld. All prEaniums on insuranBe policies shalt be paid
<br />at Lender`s option vi the manner provided under paragraph 2 hereof ar by Borrower making payment, when due;:
<br />directly to the insurance carrier.
<br />In the event any policy is not renewed an or before ten days of i#s expiration, the bender,, tQ pzptect
<br />its interest, may procure insurance an Lhe improvements, pay the premiums and such sum shall become
<br />immediat€ly due and payable with interest at the rate set forth in said Hate uatil paid- and shalt be
<br />secured Icy this MortgagE. Failure by $ormwer to comply may, at option of Lender, constitute a default
<br />under the terms a€ this Mortgage.
<br />AIl insurance policies and renewals thereof shall be in Conn acceptable to bender and shall include a s#andard
<br />rortgage clause in favor of and in form acceptable to Lender. Lender shaIi have the right to hold- the policies and
<br />renewals thereof, and Borrower shalt promptly furnish is Lender all renewal notices and all receipts cf-paid- pre-
<br />rrriurr~,. In eta event of lass, Borrower shall give prompt notice to the insurance carrier and Lender, ahd Lender
<br />may rooks proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or _
<br />repair of the Property damaged, provided such restoration ar repaints economically feasible and the securrty of
<br />t_l:is lfortgea`+e is not thereby impaired. If such restoration or repair is nvt econamicailj- feasible ar if the security
<br />of eels 3ortgage would be impaired, the insurance proceeds shall be applied io the sums secured. by this ~fi?::b ~°e,
<br />with the excess, if an'r-. Held tg Borrower. If rice Property issbandoned by Harrower or if Harrower failto rESpoitd
<br />to £,ender within 34) days -after nctiee by Lender to Borrower that the insurance Barrier offers to settle s claim far
<br />insurancQ IM?nefi#s; Lender is authorized io ~lleet and apply the insuranBe proceeds at Lenders--option Either to -
<br />restaration ar repair of the Property or to the sums secured iy this ~iiartgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to prinoipal shall
<br />not extxnd or postpone the-due date of the mantnly instatlnients-e€ei'red to in paragraphs l and 2 hereof or change
<br />tlrE amount of such- installments..
<br />If under paragraph IS hereof the Property is acquired by Lender. alI right, title and interest of Borrower.. in
<br />and to any. insuranBe paliaie4 and. in and to the proceeds thereof f to the extent of the sums secured by this Mort-
<br />gage immediately .prior to such sale or acquisition resulting from damage to the Property prior to the sale or
<br />acquisition shall pass is bender.
<br />&. Preservation sad Maiuteaemee of Property; Leirseholds: Candcariniuma Borrower shall keep the Prop-
<br />erty in goad repair and shall Hat permit or commit Evaste, impairment, or deterioration of the Property and stall
<br />conrpfy with the provisions of any lease, if this ~tartgage is o*: a leasehold. I# this Mortgage is on s condominium
<br />unit, Borrower shall gerfarnz all of Borrower's obligations under the declaration of condominium or master deed,
<br />ihE by-laws and'regulatians of the condominium projeBt and constituent documents.
<br />?. Pratecticrn of Lender's Security. If Borrower fsiis to parfornt the covenants and agreements Bontatned in
<br />this Afortgage, arif any sedan or proceeding is Bam.nencex! which materially affects Lender's interest in the Prap-
<br />~ty; including, but not limited to, eminent domain, insolvency, code enforcement, or arrangemert4a ar proBeed-
<br />ings inval~rirtg a bankrupt or decedent, teen Lender at Lender's option, upon notice to Borrower, rosy nee suEll
<br />appearances,-disburse such sums and take such action as is necessary to protect Lender's interest, including, but
<br />not'tirnit+exl tie; disbursement of reasonable attorney's fete and entry upon the Property to mske,rnpairs: Any-
<br />-. amounts di~hursed oy Lender pursuant to-this paragraph 7, with interest *.hereon, shall beroms additiousi:inttt-
<br />edn of Borrower secured br' this ~ilortgage. Unless Harrower and Lender agree to other terms of paynzEnt, such- "
<br />amiriintsshall he payable upon nctiee from Lender to Borrower requesting payment thereof; anal shalt hear-Ater-
<br />ea6 s't'eirri the date of disbursement at the rate stated .n the Note unless payment of interest at suBh mate would Ore
<br />eentrarg to applicable ltsw, in which event such araouttts shall hear interest st the highest rate potmi~sible by
<br />applicable law. ~atlring contained in this parao aph i snail require Lender to incur any exrDense or do any $,ct
<br />hereunder..
<br />$. Lespeestier~ Lender may ma#e or cattle to Fro made reasonable entries" upon and ins2ertians o€ the Prop-
<br />seep, provided that Fender shall g~ve,.$arro~wer notice Itiriot• to any-suelr inspection specifying reasonable canes
<br />t#aerefor rend-th Y~ndEi`"s:ntarin the.Property.
<br />-~. ~Sade;#i~. a proBEeds of.aay award or"claim €or damages, direct ~r aoiisaquential; in Bonuectiom -
<br />.,., ,
<br />Mi~ :sae c_-~ = ~~.tiLr.:•- tbs. talons, of tliz Property, or• hart th€teof, or for e©,nzeya:ue ht'lieu 5f eonla-
<br />#,iast;;ar~ hereby assigned andshall-be paid #is Lender.
<br />In the event of a tarsi taking of ih~ FtoTselty, the proceeds shall-~ applfed`!a the sums secured by #his Mort-
<br />gas{", .~.• ` #].e a ar, , ~,,:d to uafrr,,.ar: In the want of s par`=&l tak,ag of t},e 1'ropeity, unless $t3trawer
<br />and Leatder otherxis;r~ agte~ in writing. th~,re-$halt ba applied to t$e sums secumd liy this blortgsge s>:ech piopor-
<br />tiun o:'' the pme.>eds ss is equal to that propoitiofi tivbit~t the aistaiint of the errors securest by this Mortgage imrae--
<br />diaely prior to the :late of ta'sing be:Er ±a rite-fair market value of the Property immediately priortu ?,ire date of
<br />taking, ~-itl: rise 1?alance of the proceeds pain isa Borro~vsr
<br />If tl< Prate; tv.;,s ahando,7ed by B'armc%er t:r if afters twtice Icy Leidrx tv'BorrowEr that the. condemnor offers
<br />to make an Huard ar settle a clsirrr for damages, Bon•awer_ fails to respond to Lender witlriri 3i) days of -the date
<br />of such iiatice, LendaP°is-authorised to 4'S3lleet arir# apply rile pirreceeds'at Lender's option either to restoration or
<br />repair of the Property- oT to the sums seetrred;hy. this Mortgage: -
<br />IT;il~ Lander and Horrower otherwiseagree iu writing, any such application of proceeds to principal shall
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