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If under paragraph i8 hereof the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later than immediately prior to fhc sale of the Property or its acquisition by Lender, any funds
<br />held by Lender at the time of application as a credit against the sums secured h}• this tilortgage.
<br />3. Ap}~Scction of Payments. Unless applicable lnw provides otherwise, all payments received by Lender
<br />T' under the Note and paragraphs 1 and 2 hereof shalt be applied b}- Lender first. in payment. of amounts payable to
<br />~ Lender by Borrower under paragraph 2 hereof, then to interest payable ou the \ote and on Futw•c ~dcances, it
<br />~ any, sad thea to the principal of the dote sad to the principal of Future :ldsattees, ii any.
<br />~"'4 4. Gharges; Liens. Borrower shall par all taxes, assessments and other charges, tines and impositions attrib-
<br />*~ utable #o the Property which may attain a priority oser this ~fortguGe, and ground rents, if arty, at. Lender's
<br />.~ option in the manner provided under paragraph 2 hereof or by Borrower making payment, when due, directly to
<br />the payee thereof. Borrower shall promptly furnish to Lender all notices vi amounts due under this paragraph,
<br />~ snd in the event Borrower shat] make payment directly, Borrower shall promptly iurnish to Lender receipts evi-
<br />n denting such payments. $nrrower shall protnlxh• discharge auy lien which has priority over this _Lortgage; pro-
<br />vided, thai Borrower shall not, be recuired to discharge any such lien so Long as Borrower shall agree in writing to
<br />the payment of the obligatian secured by such lien in ;t manner acceptable to Lender. or shall in good faith contest.
<br />each Lien by, or defend enforcement. of such lien in, Iega1 proceedings trhich operate to present the enforcement of
<br />the lien or forfeiture of the Property or any- part thereof.
<br />S. Hamrd Insuraace. $orroaer shall keep the improvements now existing or hereafter erected on the Prop-
<br />erty insured against loss by fire,hassrdsincluded within the term "extended coverage", snd such other hazards as
<br />Lender may require : nd in such atnauttts and for such periods as Lender nta}- require; provided, that Lender shall
<br />= pat require that the amount of such coverage exceed that amount of coverage required to pat the sums secut-ed'by
<br />this LlorCgage.
<br />The insurance carrier providing rite insursuce shall be chosen by Borrower subject to approval by Lender;
<br />provided, that such approvsl shall not be un:easonab}y with}teld- ill premiums on insurance policies shall be paid
<br />at Leader; option in the manner provided under paragraph 2 hereof or by Borrower msking payment., when due,
<br />directly to the insurance carrier.
<br />In the event any policy is not reaewed on or before ten days of its expiration, the Lender, to protect
<br />its interes#, may procure insurance on the improvements, pay the premiums and such sum shall become
<br />immediately due and payable with interest. at the rate set forth in said note until paid and shall be
<br />secared by this 'Mortgage. Failttre by Borrower to comply may, at option of Lender, constitute a default
<br />t€-d : t;~ t~ ~ of the a"=~-:~.
<br />All insurance policies snd mnewajs thereai shall 1>i> in inrm acceptable to bender snd shall include a standard
<br />nwttgage ciau.:e in iavar of snd in torn arrr;.taltle to Len+.ier. ].ender shall hsve xhe right to hold rite policies and
<br />rtstevrals thereof, and Borztatrer shall promptly iurnish to Lender all renewal notices and sll receipts of psid pre-
<br />miums. In the event of lass, Borrower shsll give prompt nonce to the itasuranee tamer and bender, and Lender
<br />may Inake proof of lass ii not made promptlc by Bnrrower-
<br />LTltless Lender snd Borrower otherwise spree in writing, insurance ptveeeds shat} be app}led to restoration or
<br />relasir of the Propel2y damsged, provided such restoration or repair is eeanonsirally feasible snd the security of
<br />title Mortgage is not thereby impaired. If such restoration ar reps_r is pox eranonucaliy ieasitale or if the security
<br />of this \dortgage would be impaired, the insurance lroceeds site]} ?,~> applied to zhe runts secured by this \iort.gage,
<br />x~ the e=eess, if any, paid to Borrower. li rite' Propeny is al,andane+: in- Barrowcr or ii Borrower fails to respond
<br />to Lender within 3t3 days after notice i;y Lender to Borroter that the rnsursnce carrier offers to set#le a claim for
<br />inwra~rtce benefits, Lewder is authorised to colect and apply the insursttm proceeds at Lenders nption either to
<br />ressWratian or z=epsir of the Property or to the sums secured by tisic Mortgage.
<br />Utiless Lender and Borrnvrer othez•aise agree in writing, any sue], application ai proec>zds to principal shall
<br />sot a or paatpoae the due date of the trontlth- installmenxs referred to in ltsragraplts I anti 2 hereof or change
<br />tree itataint of stint installinentc
<br />If tttxttr paragraph i8 hereof the Property is acquired lay Lender. all tight, title snd interest of Borrower in
<br />sad tta ray itLattrance polices and is and to the proceeds thereof ~ to rite e:-tent ni thr sttrtls secured by this Afort-
<br />gaga immediately prior to sorb ale or acquisitinn+ tr~u}tin, inapt ,iattia~ to the Property prior to rite sale or
<br />shall pass to Lender.
<br />& P:ae~oa and M ad Property: J~aeho3da: Gomdaramiums l;c~•rnwer shall keep the Prap-
<br />erty itt good rtpair sad shall nor pertnit or c•amtnit waste. impaimzenx, ar der, rioratie:: of the Property and shall
<br />ootmply sith the prttritaons of spy :~~, ii tlti= \lartgage is au s iea_;eha}d- Ii this 'tlcrgsge is on a condominium
<br />unit, $orrower shall p-rforn; s}i of Barroac-ers ob}rgatior:, under tUe derlat~tinn of condominium or master deed,
<br />ihG }ay-]axes and rcgulatiens of t?te condomiltimtt l~rojrt•t and cnrstituent do:un;ents.
<br />?. IPt~tion aA Lmrier's S~euritp. If Borteawrr fails t,? I:erion_**: the ;vrensttt_; and at-regiments contained in
<br />this almtg~+e, or ai art;- at2ian or pxacerding ::- een;n.;ence.•t wiut-=; :a,sterislly- atiet-tr 7_eatdzr's intetpst in the Prop-
<br />e~tg, itseltatirsg, but *wt limiter! io, emineat domatr.. tn.aireuc-y, t•ndr ,-riamer_arnt. nr srrangetaent:; or pructred-
<br />~ ~rolv~ieg a ~ or deaadeax, tiaea Lender at 1-endt•r's option, ul~n I1oIICe an Borrower, may make such
<br />*, distttar~ sutdt -outs atsd faire sac s:iinn as i= nn;•~an- to pmtect larder's interest, iaeltlding, but
<br />saE '.~. dia~tnt iii zrs~;r atty's f .... ~:r_,• ::} rite Pry uy io tnakr Any
<br />tlist+altsad ],ic- Lewder t to this u,. xr-
<br />pttlsatsn iiatttgraplt ~ . A>u, intcl+est thereon. spa-tl l.=ecrDitte additional indebt-
<br />odaaasod $ortostrerseeuttetl by ibis Dlortgage_ L7nless Borm~rer and Lrtxter agree to other terTtts of payment, such
<br />aims ttlzs~ll 1sr pad>ablr apon Ix+#~ce f~ Liu ua Bttrra>rer t~utsting pasa~rx t!>erenf, and shall bear inter-
<br />est dram the due of dist:r.'~exnaen# at tl~ rate stated i€ tlae tinir ttnir~ paynsetxt ni intetrest at such rate ~rould be
<br />otry ic+ a}~iicable law, in wilt eyeui ': atmaunis shall r utarrett s=. is3e higlt~i rate petmi~ible by
<br />a~tgle lax-_ 1iot~ulg ecuatai+d is t3ti€ }taragral,}} ; s1xAi? ~-t>.z;n I.es:dt`r *.a arras sat• erpertse ,~r do any art
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<br />~. Irtipeelioe. Lsstiiier may make or metre tc lx mn+ia Irsreutxt,lc> entries upon arai inspections of the Pmp-
<br />~a d~ t~.t Ltd all tic,-rrvsc~ iva~ ;~r-tar to aria =are: tnr7ter~tttntt :K~erif;ittg reattanabie eatt~
<br />titttts$ar tdatttd ot- s >o im t~ Prapratt .
<br />~ ~drt~aa. '1'."he ~ ~ stay errata] w. rlaitzt for dsnaagxs. dit~ect or roawequtuslisl, in oonnertion
<br />ttr~lt ~} ar talr~ cet the Properly. nr t~rirt tltrrrof, nr foe rvx:seyanre in Iieu of caande~inrta-
<br />~. ae 6~Im astogned astd ahal! be prrd ira Ltsstder.
<br />IA t+fie treat a~ a taAa~ tag of the Pt.Y: rift ld~ rlisll ;~ applied to t}rf .um e;~ured by this 1;ert-
<br />pge,'r,tilhf3its#~iei~:, pad to $orre~rrez. In tlae eeerM of a partial taking of the Property, unless $orrorvet
<br />all 3.e~er of ~ ~ rhrre rdtall bt: applied to the sums seettt'ed by this Mortgage suelt prolwr-
<br />tiwt ~ the srs # aQaai to that n rrhieh rite atnotint o3 the stunw seeut+ed by this Mortgage imme-
<br />t$ #ht due cd br~rs to trite lair tttardcet ~•alue of lire Pro~rty itnmeatiattly prior tta the date of
<br />taltog, ari~l~e I< al ~+e graemds peal tts Harmer.
<br />3i rile t'sty,fa lry ~ or if after na#ice by bender w Borrower that the condemner oiferts
<br />bt+fea3ae s~ steed i~ ~~ a t dtrc ~r $orrarrer fails tit re`,porud tit ].ender within 30 days of the date
<br />ne>~w its i. ' fo_o..~~,~ -~ T ;:~~ ~~ ; a~,.dzrd h :~ptizm cith2r tv i~etva~stia~ yr
<br />tepid ed the ~ to #a' ate ~ this 1Sorfgage. _•. _ _
<br />LTtdrae Ixr and flora cxhtrsiaa agree in tvl3tiag, any such application of proceeds to principal shall
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