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If under psrsgrayit IS hereof the Property is sold or ti7e Property is othencise acquired by I ruder, Lender
<br />_ shall apply, no late: than immedistelti• prior to thr sale of the Yropert~• or its acyui,ition h~- Lender, any Fund.
<br />held by Lender at. the time of a}?plication as a crcilit against the sums secured hr this \~Iortgsga.
<br />3. Agplication of E'aymeats. IInlesa ayplicahle L•rn~ provides otherwise, all pacments received by Lender
<br />i under the'_Qoie and paragraphs I and ?hereof =hall he ;Ipplied },y Lender first in ps}•ment of amounts payable to
<br />Lender by Borrower under l,aragral~tit '2 hereof. tit,tt to interest ;~a}-able on the Aote and on Fuhnr aclvsnees. i{
<br />sny_ aatd then to the principsi of ilt2 \ote an<l i~* the- ;,riucipal of 1'uturc~ :1tl+:tnees, it am•.
<br />~ 4. Charges; Liens. Borrower st•~a1] pay ail taxes. assessments and otl;cr charges. tires and impositions attrib-
<br />r '~° utsble to the Property ++•hiclt m3)- attsvt s ;~r;aril}- over this Mortgage. anti ground rents, if an}-, st Lender's
<br />"~ option in the planner pra+ided tinnier paragr:tn:: ' !tcreof ar by Borraa'cr making payment. when due, directly to
<br />~ ~' the payee thereof. Borran•er shall promptly furnish to Lender all notice'; of at7tou^ts due under [his paragraph,
<br />~ and in the event $orrew2r =hall snake ttayn7ert ,lireeh-. 13orro+rer shrill prompth furnish tc Lender receipt`s eri-
<br />~ denting such psrnaenis. Borrower shall yrom, :;c discu:Irge env lien +chieh has •n~ioritc over this \[ortgage: pro-
<br />>`rided, that $orrower shall pat 6e requimd to di-cita7ke an}• such lien so iann as Born,wer shalt agree in tG-ritinl to
<br />~ rase payment of the obligation secured in- sue h lien in ;, msm7er acceptable to Lender. or sl:aH in good faint canted
<br />~ such lien by, or defend enforcement at each iii^n i .. leeal ;~roceedines +rhicl: operate to present the enforcement of
<br />I the lien or forfeiture ai the Propert}' m anc }>srt •thereof.
<br />SE£ RIDr~R 3. Aazaad Ina-crrance. ~ '' ' _
<br />_ . ,_ .. .t
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<br />- The insurance carrier ;+m+iding the tnsura?:ce stall ix i beset: h} Harrower :object to apnrocal by Lender:
<br />provided chat such spprovsi shaft not b2 ut:ressansbiy +:ithl7eld.:~1 premiums on insurance poiicic~ shall be paid
<br />st Lender's option i!. Iite tnsnner }, nn idr~: ,]elder ;•ar3,rat,ls ? hzreaf or l,y Harrower snaking payment. when due,
<br />direetl}• to the insurance carrier.
<br />in the event anc policy is not reneged on or before ten days of 'Its expiration, the Lender, to protect
<br />its interest, may procure insurance on the improvements, pay the premiums and such sum shall become
<br />imrnedia[ely due and payable a-ith interest st the rate set Earth in said note until pat.'. and shall be
<br />soured b}• this \fartgage. Failure by $orrager to compl}• may, at option of Lender, constitute a default
<br />under the term, of thi_c ?iforigage.
<br />All:nssrsr,<°e;+oiicie; snd renrmss t3tc•ret=f ~i:all br in ion:; ;u•rrht3I+1; to Li~r„lc!• ar-,i s]t:til in:ludc : startziar,!
<br />inert-cage elsast~ . fs+'or of ant: ita fora :act•r;~tuhk^ to Lender. l.endrr :half hs+~r rho right to bold the }xtlici2s and
<br />renecvsL- ih2rctii, snd Bortl~wer shall nrompth• furnish u7 I-emirr all renc+ral ~o~ts.^ sn.3 all receipts of paid pre-
<br />miutus. In the 2+-ent of Soy-- ~'orro++'er strait n ce pr~?tn:~t notice to then insurance carrier and 1:2nder, and Lender
<br />tnay make praoi of ess ii not Insde gr?m} tlr in- Borrower.
<br />Lnles Lender snd Borrower otn2rn•ise agree ir, :+riting, insurance !,mceeds shall b2 applied to rt~toration or
<br />Iepair o: the Propet-tc dsnlsged.:•:vcide;l =tic:: rt;to-3*.ion or n-t,air ;- ri,~nutnitally ieasib}e amt thi• st~aurity of
<br />this \3or#gage is trot. thereby im^sird. if =.ch r~;t,-:<:on or rel,:str ;; not e o?tot;7icaily feasible or ii the serurit*,
<br />of this ifnrtga~ nauld be ;mpairzd. the mat?rsuct~ l,roeec~is sl7ali ? ~i- appiiid ?u the sums secured by this .`.Iortgage.
<br />with the exCeS,. ii anti-. paid to Borratver. Ii rice Pro;+eny is ai,an~3,-~:: ~i i,y Barronzr nr ii Barroa-er tsi}s to re,pond
<br />toLendet wtt:un;i{r dace after settee be 1_rm]2r to Baztmser that u7e insurance canter affen to ~~ttle s claim for
<br />insttts[:ce t~enehts. J-ender rs sutttarzcd to settee? snd ap}ply tht insurance }troreeils st Lender's aption either to
<br />restaratian ar zepsir of the Pro}+eny or to the suu7, st•cureti t,y ti:i- \Iorgsgr
<br />Unless Lender anti Borrower ath2rn':se sgrer it; +ariting, s!:v st;,•i: s},l~ii<at;,n of yroi•eeds to principal shall
<br />ao[ attend or ~-tpont rite dur date of the marai,i}• maaihnents reier:rti to pt paragraph; l and `? hettoi ar change
<br />:.Ile amount of xttr±; ins[silmerts.
<br />If under paragrsp~:: IT hem7f the Yronenv is acquirc~i by Lender. s.i right. title .,n;l :,.tercet of $orrawer in
<br />snd to ~sy tom- _*ar:,,•e ;F iett± a+-.d tt, s?:_ ?o the-; _~r~er-.?s •t<rrtroi ,*.u *.iir rx=.ent c~i ;?~r s:ttn- -rcun><i b; ihi Jlari-
<br />grge ~~ttnr-~tstzI ;,rte: t -ucl: ,s!•• c,r at•ct:.sit;o!.. rY•~uitir:g ire!:, ,iar.:gi• t_ ;i:r I'ro;tem' +.:r!ar to the sale ar
<br />n~rcit2Lixllt{tr; EtilL t151-~ ti:. 1-f'nde7.
<br />6 Palioa +md Ma>a2mmnce of Property; Leaseholds: Condanuaitams. Bitrra.+er >hull keey the Prap-
<br />crtr zn C'i.Jd reRa;.* rF t;v FnY: l:ai SKrit:it i. ~Fn7r777; It a:t 2, tmpa7rn72nt. or vet ct]nr3t,t):; Oi the Prap?I[c and .},nil
<br />rl: a ~< ._. , _>a ~. ;ea.~e -. ,.,.. ,_ :essr:,ot,i I i ;..-. :io~tgsne an a tondominipm
<br />unit, I3u.-::>arr-.ism ;ter;o:rn: zi ai $+;r ~~.+~r- o#,?isat~~n- :. _t> the u>cisratic~z: o; anaontinium er master deed.,
<br />for i.r-xwa at_d >rguiath!s o. tix~ candanuntun: t=na}rrt st,d xarstlt uenz tiac~,IDr'ats.
<br />7. Pro[eetieat of I,anrkia Security. 1; Borrourr ?sit- tt, l+rr;t,r_t: the r~,tcr,ant~ :a:i :ti;rermznts contained in
<br />_.~ ~lort~g2, c,r ii ar<; actin?7 or probing is tontnePnri-a scl:isr,. r:yteresllr ade,•t_ Linder s intemst in the ProP-
<br />rrty, snctuding. i=tit t,c=t itnlttrd to. r:ttlttent dittt,an_. nt.~,I+rn.c, r~dr rniarrrt;.rt:t..tr 3rraugetnent> or praeced-
<br />tngs inva?cing s ?a-ut~r;~p+, or deepder.,. then L<•tscer a: 7_rlt;ier'. a}.tton. upo:t nctsre to Bcrrt~a•er. tnsy make such
<br />appearances, dwc; ursr such suttts and take such sctian :ts is t;eci-tart' to pretest l.e!ti2r's interest. including, but
<br />~t limited ta, dtsiotuxttient ~f r~cc'.nabir :attsrney s ;zrs snd entn utaan tl:e Property to utaSe repairs. any
<br />atE diestlr ;>i 3 lc L~der ,„:ursuant -o this ; sra~~rsy-. , writ= tntet~st therectn..hsil uoc+omr additional ineebi-
<br />edne;~ o= Borraa-ea secured t=} leis _llorgsg2. I`nless BLrrott'er sad 1.2stder agree to other terms of payment, such
<br />asnattntb shall be payable upon naiice tram Lender to $arrv:~>Lrr r2cuesting paynie_•t thereof, and shall bear inter-
<br />~ fs~, the datz of tiisbulsrment at ire rate stated i.. *.Ste \ate unless Ixtya,er,t of interest st such rate mould be
<br />coata•ary w applicable laic', in ghici7 crept such amounts si7si! tear intrre:'t st the highest rate permissible by
<br />sppli~ble law- ~atl7 rig rantainc~i in this ;+srs~ tint, :shah rilulri- l_t•ndrr to near any expense ar do sit}- net
<br />I:atrander.
<br />$. ~ Leltder may mae*= or cause to Ix madi• rea:onsbh• c•ntrie_ upon and ir'.spectiom ai the Prop-
<br />ert.y, provides that ?.ender shall Clvr Barraa-er notice l,t-itar IU am ,url: inspertit~n -;teriiring res~onahlc reuse
<br />t~*_f~ re_tai~ to?~+der'- i<~tte[~t i ,b~ ~^:prrty.
<br />3 Cade The praeeeds ai any sx•an•i er ~^isint for ianucges, direct +>r consequential, in connection
<br />witl[ aAp e~,de[tanaiian or ether taking of the P:•a}retry. ar }-cart Il:rreaf, or for eont•eS°snce in lieu of condemna-
<br />ti~, are 6+ereby assigned and s}.sil be paid to Lender.
<br />In the event of a [oral taking of tr,e 1'rapertt-. the prmeex]s shall l~ applic~ to the sums secured 6t' this Mort-
<br />gage, ? 61se tu,, i,f soy, paid to ~,rraaer- Irr the event of a partial taking of the Property, unless Borrower
<br />~ Lrrsdrr ~e a in 'Ming, tli Mall ire applied to t he solos seetlr2d by this _lia[tgagr zuch prnpor-
<br />t$oa of flu pruceeda as is equal to that prnporzion which the amount of the sums secured by this Mortgage imme-
<br />distelg P~+r to the date tgf trkiag lrmtrs to the fair market value of the Prapem• immediately prior to the date of
<br />takteg, frith t~ lislaaoe of i~ ptageeds paid to Borrutk er-
<br />If the Prapertp ~ abandoeed by $urrtrwer or ii slier naiice be Lender to Borrower that the condemnor offers
<br />to make an s>a¢ard or nettle a claim for damages, $orrower fails to respor;d to Lender within 30 days of the date
<br />of suck pe'ace` Iz.-tder is authorized io collect snd apply the }sroceeds st Lender's aption either to restoration or
<br />repair of the Prnperty ar io [he aura`s aeturet3 by this iortgage.
<br />-arsie,as i.ender and $artrrwar otherwise agree in writing, any such application of proceeds to principal st;etl
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