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. If under paragraph IR aereol the Yroperts i= sold ar the Pronert}• is aiherwi<e arquirad i,,, 1.on,lcr, [ ~~ ;der
<br />=hall s.n{alp, na later th:u: i:n:aacdiatelr prior co the laic z,f the t'rr,paa•t}• „r u_. ;t~~rtuistion i,t i.. =~:t+- ,z ,~a~.-i>
<br />1!eld by 1_entrer aP-the tinia of spa h~.~t-z, _; -a a Credit r,z".rm:-t thr ~;un= ~tcnrai hr thl~, Alnrt~•~st•,
<br />3. Agpiie~#issn of za3rmen#s. i;nlsrs- ca!alrlicab!c la;c prawi~les ather~~ise, all pavru,~nt~ reeria,,1 h} ,...E.
<br />loader the date and l:art~graphs 1 and 2 hcrenf shall be applie,.l ley Li~ndcr first in pati•naent of ;ernount- p;a>~a.,e° t,~
<br />Lender by Barro;vor under paragraph '? l:ereaf, than to inicrest l,.avablc an ih<• ~atai and on ruhare :1~lvrncc~s. ii
<br />an}~, and then to tlae principal of the ~ots• and to Um principal of h`ui,urc Advaures, if ;my.
<br />~l. G`harc-{es; %.iexss. Harrower shah lacy all taxes, as.yessmenCS and other charges, :zees and impositions attrib-
<br />nt~tble to t?:e Property which may attain a priority aver this ti3ortgage, and ground rents, if any, at Lenae.*`s
<br />1=~: optian in tlae zaaanner ~arovided under paragraph 2 hereof or by Bm•roccer making payment, whet due, directly to
<br />the payee #Iaereaf, i3orrawe,r shall prnafat?y furnish to Lender all notice, of amounts due under ±lais paragraph,
<br />:^~ iaa the event Harrower shall make paynaetai di€eefiy, F3orro>a~cr shall laranapt.lg lurnisla to Lender receipts cvi-
<br />dcncingsueia payments. Borraa~er shah l5rona;atl;; disch;rrgeaa:y !ice which has priority over this }Ioiigage; gra-
<br />O videtl, that Borrower shall not be required to discharge any such lien so long as Borrower shall agree in €rriting to
<br />~g the payment of the obligation seeuretl by such lieaa in a mantaer acceptable #o Lander, or shall in woad faith contest
<br />{ Such lien isy, ar defend enforcement of such-lien in; legal traceeztings wlaieh operate to prevertt the onfarcement of
<br />~ the lien or forfeiture of tea Property or any part t!aereaf.
<br />~' S. Fiazrrrd insurance. Harrower shall keep the improvements now existing ar hereafter erected on the Prop-
<br />ertyinsured against loss by fire, hazards included within the Carr , :'ext?rded coverage"; and such other hazards as
<br />Lender may require and in stieh amounts sa;d for such periods as Lender may require; provided, that Lender shall
<br />not rewire That the amount of such coverage exceed tiaat amount of coverage required to lacy the sums secured'lsy
<br />t this Itiortgage.
<br />The instarancc carrier praviriing the insurance shall be chcsen h}- Borro~•er sulajeetto approval b}• Lender;
<br />provided, that such approve! shah not be unreasonably withheld. iii premiums an insurance policies steal! be paid
<br />at Lender's optian in the manner provided under paragraph 2 !:creel or bs• Borro~a'er making par•ment, rovhen due;
<br />directly to the insurance cagier.
<br />In the event any policy is not renewed an or before ten slays of its expire#ion, the Lender, #€r protect
<br />its interest, may procure insurance on the improvements, pay the premiums and such sum shall hecotne
<br />immediately due and payable wdth interest at the rate set far<h in said Hate until paid and shah ba
<br />secured by this I+~iortgage. Failure by Barmwer to comply may, at option of bender, constitute a default
<br />under the terms of #his iViartgage.
<br />All insurance policies and ranewais t-hereof steal: be in form acceptable to Lender and =bait include :e standard
<br />znartgage cla.zse in ='avar of and in form acceptable to Lender. lender shalt have ttze right. to hold the policies and
<br />renewals thereof, and Harrower shall pranap±lv famish to Lender all renewal notices and alt reeeipis of paid pre-
<br />miums. In the event of loss, Harrower shall give prompt notice io the insuranec carrier and T,ende=-, and bender
<br />may make proof of loss if not mace promptly isy Borrower.
<br />Unless Lender and i;arrawer ailrer:vise a;ree in writing, incur:}nee pracee<ls shall hz applied to restoration or
<br />repair of the Property damaged, provided such restoratior. or repair it econoznicatty feasible and the security of
<br />this :oSartgage is Hai there4ac impaired. If such rester=stoop or repair it not ac•c;:osnically feasible or if the security
<br />of this 3lartgage would be impaired, the insurance proceeds shat i,~ applied i~ tl=e sums secured by this I4lortgage,
<br />with the excess, if any, paid to Barrocver. If the Property i abat;~.;aned to}• Borrucv~r or if Borrower fails to respond
<br />to Lender within 34 days after notice by Lender to Borrower tact the ins,;rsuee carrier offers to settle a ~ -'^z for
<br />in>uranea berstits. Tender is a=.zthariz-ed to collect and appi;• t?aE: insurance proceeds at Lender's optian either #ia
<br />res'~aration or repair of the Property ar to the sums secured by this ~IarY2agc.
<br />Unless Lend^° and B^ ,. ° athe ~ ogre iu ,.~itiug. ^}: ;plicatian cf l,r.,c~ds principal shall
<br />Hat extend or postpone the due date of the monthh• insa!hnents referred #o in paragraphs 1 and 2 hereof or ohenge
<br />the a>;eotnnt of such installments.
<br />If under paragraph i& here~felze Property is acquirred by Lender, ail rig!at; title and interest of Harrower in
<br />and to Rev insurance policies and in and #o tine proceeds tiaereaf tta the extent of the sums secured by this ;Effort-
<br />- gage immediately prior to such sale ar acquisitions resaliirg from damage to tlae Property prior tD the sale or
<br />- aeCttii5ltlan snail paSS to Lender.
<br />6. Erasers a#ion and iESaba#anance of Praperiy; Leaseholds; Condominiums. Harrower shall keep the Prop-
<br />- arty in goad repair and shall not permit ar commit waste, izngainaaent.. or deterioration of the Property and shall
<br />comply with tine provisions of any lease, if this Zlaregage is eta a !easelaold. if this _liortgaga is on a condominium
<br />=t Barron°er s ...i pe,iarm a!1 oT Barrc;~°er's aT*l:g done ~°rlsr the ds.•lara..ien of aandominiura ar zr;~ter deed,
<br />the by-!awe and regulations of the condominium pro}act ancl,constituent documents.
<br />3. era#ec#ian of bender"s Seauritg. I Harrower fails to perform the covenants and agreements contained in
<br />this itifart-gage; or if any action ar proceeding is commenced which materially aft`ects Lender's interest in the P:og-
<br />arty, including, but not limited to, aaaineni domain, ineoicency, rode enforcement, or arrangements or proceed-
<br />ings involving a bankrupt ar decedent, then Lender at 1.erder•s option, upon notice €o Borrower, anay make such
<br />appearances, disburse such sums and take such action a ,s necessary is protect Lender's interest, including, but
<br />not limi-led ta, dis'ursement of reasonable attorney's fees and entry upon the Property to make repairs. Any
<br />azrotu.#s disbursed by Leader pursuant ±o *.his paragraph ?, with interPSt thereon; shall became additional indeht-
<br />edness of Harrower aerured lay this Iartgage. LrnIess Borrower aaad Lender agree to other terms of payment, such
<br />amounts shall be payable ulaon notice from Lender to Borrower requesting payment thereof, and shall bear iatPr-
<br />estfrom the date of disbursement 4t the rate stated in the Nate unless parvment of interest at such rate would be
<br />contrary to applicable law; in which event such amounts shall bear interest at the highest rate permigsible by
<br />applicable iaw.:;lathing contained in dais paragraph i shall require Lender to incur- apr- expense or do any set
<br />~ :under:
<br />°~, ~~,-#ian. Larder may m-a'<:a ar cause to !«• made reasanatale entries upon and inspections of the Pmp-
<br />erty, provided that Lender shall gic•e Borrower notice prior to any such inspection specifying reasonable cause
<br />therefor related t€i Lender's interest iI3 tine Property.
<br />3. Go;~ederrasst#son. 'The proceeds of any award ar claim. far datr::ages, direct or consequential, in eonnsetion
<br />wi#h any condemnation ar other taking of tine Praperti, ar part ttaeaeof, or for eonvevsnce in lieu of condemna-
<br />tion, are hereby assigned and shall he paid to Leiader.
<br />ijr the went o£ a tale: taking of the I'mperty, the prxoeds siaall be applied to the sums secured by this I4iort-
<br />gage, with the cocoas; if any, paid to Borrower: In the event of a partial taking of the Property; unless Borrower
<br />azid T.erid~r otherwise agree iri writing; Mere-.shall be aplaliecl to sae sums secured by this yiortgage such proper-
<br />tiara of the p°aiads'us is etTiaal to tSasf proportion which the. amauat of -the sums secured Iay this riiortgago imme-
<br />~.iiately prior to tlae-date ta# taking bears to fire fair sazarkot ~alssa of tlse I?raperty immediately prior to the date of
<br />taking, with f h<: i>a lartae of t~ha proceeds paid Eca Borroter.
<br />If-.fire r>~o-,c;•t~ is aliazidaned bu B€~rrow-er or_if after notice Iay Lender tea -Borrower that the coedemnor offers
<br />t^ na ke _ :: ~::.~.1 ar settle -a alai v €ar tlan:Rg~, ~^rrgk~r isils to respond to L°ndsr within 34 days of the dates
<br />of suoh notir; Fades is cut o:i;<pt~'-tc .ccillect srd-=ppIy the proceed:: at I..ender's optian either to restoration or
<br />repair of the £?ropezvy or tothe sums secured by this _liartgage.
<br />Unless Lender and Borrower othanvise agree in writing, any such application of proceeds to principal shall
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