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<br />If tinder paragrapi; 1S hereof fhe Property is sold m- the Property is othertoise acquired by Lender, Lender
<br />shall apply, no later than innnediately prior to the -sale of rho Property or its ucquisiiion by Lender. anc Funds
<br />lxeld by Lender at the lime of application as a rrerlit against the sums secured h.• this Aiortgage.
<br />3. Appficatian of Payments. Unless spplicablc late provides atherwise, all paymanfs received by Lender
<br />under the Note and parngraphs 1 and'2 hereof shall he applied by Lender first in payment of amounts payable to
<br />Lender by Borrower under paragraph 2 Itercof, then to interest payable on the Aotc ;and on Future dtlvances, if
<br />any, and than to the principal of 'the Noic mxi is the principal of huture Arh~anccs. if any.
<br />9. Charges; Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attrib-
<br />utable to the Property tclxich msy attain a priority over ibis \Iortgsge. and ground rents. it sny, at Lender's
<br />option in the manner provided under paragraph 2 hereof or b}• Borrower rocking payment, when due, directly to
<br />r..i the payee thereof. Borrower shall promptly ;'urnish to Lender all notices of amounts due wider this paragraph,
<br />~ and in the event Borrower sltsll make paymet,t directly, Barroa-er slutl! pratuptiy iurnisl: to bender receipts evi-
<br />~ denting such payments. Borrower shall promptly discharge any lien which has ; riority over this \iortgage; pro-
<br />~ vided, that Borrower shall not be required to discharge any such lien so imxg as Borrower shall agree in writing to
<br />~ the payment of the obligation secured by such lien in a manner acceptable to Lender, or ,hall in good faith contest
<br />such lien by, or defend enforcement of such lien in, legal proceedings tchich operate to prevent the enforcement of
<br />the lien or forfeiture of the Property m- sny part thereof.
<br />~ 5. hazard Insut~ce. Borrower shall keep the improvements Wort- existing er hzreafter erected a,~ the Prvp-
<br />f~ erty insured against loss by fire, hazards included within the teen "extended coversge", and such other hazards as
<br />Lender may require and in such amounts and for such periods as Lender nux~- require: provided. that. Lender shall
<br />' not require that the amount of such coverage exceed that. amount ot` coverage required to pay the sums secured'by
<br />this Mortgage.
<br />The insurance carrier providing the insurance shall be chosen he Borrower ,object to spprovai by Lender:
<br />provided, that such approvsl shall not be unreasonably withheld. all premiums mx insurance policies shall be paid
<br />at Lender's option ir, the manner provided under paragraph 2 hereof or hr Borrower making payment, when due.
<br />direr#dJ 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 />itg insr__r~st may procure insurance otn the im_ pr_ovements; na__y the nremit>~tn s and such sum shall hecnm~
<br />immediately due and payable with interest at the rate set forth in said note until paid and shall be
<br />secured by this Mortgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br />under the terms of this 11•Sortgage.
<br />Ail insuuance policies snd renewals thereof shall be in form acceptable to Lender and ~hsll include s standard
<br />mortgage clause in favor of snd in farm acceptable to Lender- Lender shall bare the right to hold the policies and
<br />renewals Thereof, and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid prz-
<br />miurr.G- In the event of loss, Borrower shsll giro prompt notice io the insurance carrier snd Lender, and Lender
<br />may make proof of loss ii not made promptly by- Borrotcar.
<br />Unless Lender and Borrow•zr othenrise agree ir• writing, insurance proceeds shsli be spplied to restoration or
<br />repair of the Property damaged- provided snrl; restoration or repair is ecomm~icalic feasible and the security of
<br />this \irtgage is not. thereby impaired. Ii such res*_orstion or repsir is not eronamically icasible or ii the security
<br />of this \iortgage would be impaired, the insurance ;troceeds ;hall i,e applied to tl:c swiss secured by- this Mortgage,
<br />with the extass, if any. paid to Harrower. If the Yropany is sbandore~i in• Borrower or ii Borrower fails to respond
<br />to bender within 30 days after notice by Lender to Borrower that the insurance carrier offers to settle a claim for
<br />insurance benefits, Lender is authorized to collect and apply the insurance proceeds at Lender's option either to
<br />restoration or repair of the Property or to the sunv secured by this \Iorgaga-
<br />Tinless Lender and Borrower othzrnise agree in writing, sny such spplirstior. ai pracezds to principal shall
<br />not extend. arpost-pone the €tue date of the tnonthlr instsihnents referred to ir. narsgrsph. 1 srd 2 hereof or change
<br />the amount ai such installments.
<br />If Hader paragraph 18 hereof the Yropenr is acquired br Lender, s':: right, title and interest of Harrower in
<br />and to any insurance policies and in sn.i to the pr»reeds tl.ereoi ; to tl:r extra: ai ti:~• =tu:ts securi~; be this ~iort-
<br />gage immediately prior to curb sale or sccluisitcar., resulting from rlan;aee to t!,.. Yrol~*ty prior to the ssle or
<br />3i~tiiaicd}n aiaaii Bass is Lender.
<br />6. Fresenaffaa and Maintea~ce of Property: Leaseholds; Coadominiums. Harrower ;hall keep the Prop-
<br />erty in good repair anc shall not permit or commit wsste. impainuen*.. or deteriorstion of the Froperty and shall
<br />comply with the pmrisions of sny lzssz. ii this \lartgsge is u:: a iessehai . If ,his liongage is ou s condominium
<br />unit, Borrower shall periarm all of Bor-awer'; ubiigatiatxs under rive dee;an;tian ui candomiuium or master deed,
<br />the b}=1aw•s and regulations ai the cordonxiniu:n prairc*.:,r,.l constituent documents.
<br />7. Pzoleetioa of Leadei s Security. if Borrower tat;- to perfor-n the covet,ant, at;d a};rezments contained in
<br />this liorigage, or if sny action or proceriing is yon:*.natsee,i whirl: t=.tstzrialiy affects Lender's interest ir. ihz Prop-
<br />erty, including, but cot limited to. eminent datnatr.. insolvency, ccxic• enforcement. or arrangements or procezd-
<br />ings inrolcing s bankrupt or decedent, then Lender at l.zrder s option. upon notice to Borrower, assay make such
<br />appearant~, dibur5a such sums and take such sctiar, as :t neceuan• to protect Lenders interest, including, but
<br />cat limited to, disbtarsemani ai reawnsvlc stttm.ev'- leas and entrc :±nott the Yraper<: to mskz repairs. Any
<br />amountediabursed lxy Lenderpursusnt to this l,szagrspi; ;. teitlt irtarest therzur,, shsll become sdditiunsl it:dabt-
<br />rdr3e3s of Harrower serurad ='y this ~iartgage. L'niess Barrow rr sec l.er=der agree to other terms of payment, such
<br />amounts shall 6e payablz upon notice irnzu Lender to f3arrau-er requeszing payment thereof.. and shall ixear inter-
<br />a~ irotn the da#e of dish :rsernent at rite raze st€ted it, tics Note unless payment of interest st such rate waulci be
<br />etsrstrary to applicable law•, in whith ai•znt such anta.tnts shall }.,ear imeresi st the highzsx rate permissible 6c
<br />applicsble law•. Nathi;sg tasntainni i~, ~..,. l,srsg,ap'.. : -_,...,i rrruitr L?nder to rotor sny expense or da any art
<br />~-
<br />& lender mss make ur cause to lx• made reasanshli~ cntnes upon and irxspertions of the Prop-
<br />erty, provided that Lender shall giro Barraw-er notice l.rtor to :tny- -uric iuslx+ctian sl,eciiying raasonahle cause
<br />thenim• rtlated to Lender's iattxeat in the Praperty-
<br />9. Cmdkm. The pr*_+!~?s of env swa.,,i a. elairn far daragas, direct ur carxsequeniial, in connection
<br />witls arsg condemnation or otlxer taking of the Propeny, or hart thereof. or for coat ayance in lieu of rondenxna-
<br />arc 1sseliy assigatd and shall be paid is Lender-
<br />In test event of s total taking of the I'ropertr, thz l,roeettiis shall be applied to the sums secured ny this Mort-
<br />gsge, wish the , if any, paid to Sorraw•er. In the event of a partial taking of the Property, unless Borrower
<br />snd I.iw>isr-,othr~s~irise agree in tsrititsg, there shall be applied to the sums secured by this \Iot•tgage such prapor-
<br />tapa ~' trite proteeds as is equal w tlxai prapoPian which the amount of the sums secured by this Mortgage imme-
<br />~ist~elp pnar• to the date of taking bears to the fair market value of the Property immediately prior to the date of
<br />tam ~ the haleaee of the proceeds paid to Borrower.
<br />If the Pcaperiy is soandoned'vy Borrowtr or ii -after mace be Lender to Harrower that the condemnor offers
<br />to malts as award ar setUe a claim far damages, Borraw•er Earls tc tspond to Landis within 30 days of the date
<br />of such aat,iea, Lender is authorized to collect sad apply the proceed- at Lender's option either to restoration or
<br />repsir of tkse Property ar to the soma secured by t.ltis Mortgage.
<br />Unless Lender and Borrower atherwise agree in tc=citing, any such application of proceeds to principal shall
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