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If under paragraph 1S hereof the Property is sold or the Property is otherwise acquired bw• i.cnder. Lender
<br />shall apply, no later than imnlediateh• prior to the sate of the Property ar its ace}uisition tn• Lender, any Funds
<br />held by Lender st the time of appliru-fan a=_ a credit against the sums secured b~~ thi, l~Iortga~o-
<br />3. Application of Payments. Unless applicable Ixw provides otherwise, al] payntt:nts receiw•ed by Lender
<br />under the Note and paragrapher i and 2 hereoY shall ho applied by tender ricer in payment of amounts payable to
<br />Lender by $orrower under paragraph 2 hereof, than to interest paca!!Ie on the Note and al Fntwr .1d:•ances, if
<br />any, snd then to the principal of the Note and to the principal of Future A:h:tnecs. if any.
<br />4. Charges: Liens. Borrower shall psc aII taxes, assessments and other charges, fines snd impositions attrib-
<br />utable to the Propertc e-hich may aitsin x priority over this Mortgage, :lnd ground rents, it any, at Londer's
<br />option in the manner provided under paragraph 2 hereof or by Borrower making paynlrnt, when due, directly to
<br />the payee thereof. Borrower shall nrontptiy turr.isi: to I,ettder all notices of amounts due under this paragraph,
<br />and in the e.°ent Borrower shs!I make pa~-:uent clirec*. h-. Borrower shall promptly furnish [o Tender receipts evi-
<br />~,.,.j deacing such payments. Borrotw-er sha!1 promptly disrl.arge any lien which lies priority- aver this Mortgage; pro-
<br />xi..' vided; that. Barrower shay. rat be re<luire~l to disri,urge any such lien sa long as 13arrawer shall agree in writing to
<br />+~ khe payment of the obligation secured be such lira, in :, manner acceptahie to Lender. or chap in good faith contest
<br />M such lien bp, or defend enforcement of such lien in. legal proceedings which operate to preweut the enforcement of
<br />~ the lien or forfeiture of the Yroperq• or :un• ;,art t hereof.
<br />~ 5. flazazd tasuraaee. Borrower silali keep t ix~ :rnhrorrtnents now axisting ar ]tereafter erected on the Prop-
<br />ertc insured against loss by ^ ~. hazards inc3tlded widrin the term ..extended coverage '.:tmi such othe! hazards as
<br />Lendermsy require amt itl s?lei: smourtts s::d far such periods as f,endcr may require: nrocidcd, that Lender shall
<br />~ not require that the anuxmt of suci? cowersCe execs:] tier[ amour; of coverage required to ;ts}- the sums secured-by
<br />this liorigsge.
<br />The insursr.ee esrrier j~roviding ti:e irtsurat:re shat': be chose][ br Borrower subject to approval be Lender:
<br />p:evided• that sucl: spprow-s1 shalt net be =1t:reasars}.~h- withheld. all premiume on insurance policies shall be paid
<br />at Lender's option ir, the manner prowideci order ~!ars~raph '? 1tetYai ar in- Borrower slaking psynlent, when due,
<br />directfr to the insurance esrrier.
<br />In the event any policy is not renewed on ar before ten days of its expiration, the Lender, to protect
<br />it-. intermit, mat- procure insurar.:e on the improvements, psc the premiums and such sum shall become
<br />immediateh~ due and parable with interest at the rnte set forth in said note aril] paid and shall be
<br />secured by this Aiartgage- Failure by Barrower to comph~ may, at option of Lender, constitute a default
<br />under the terms of this 4iartgage-
<br />:1i1 insurance policies snd rener, ul~ tl:err::~f >.....- . ,~ in torn; :u`eepta!>le to Lender and shall include s standarii
<br />mongage clause in favor o? and in Torn, ae,`entank to 1_rm.ie`r I-.~u:irr shall have the rtght to hold the policies snd
<br />reneat•ais thereat, anti Barrower sl.sii pri!rut~?:~ itirn:si: [o Le;;:ier all rc=nests! natie~: and ail receipts of paid pre-
<br />lniti*ns_ In the event of loss. $orlvwwer s.._..; gr:: •~rottac=. ro:icr ?u ti:e insurance carrier and Lender, snd Lender
<br />.LSAaf make prC01 0] loss 11 riDt n7aa2 plolnpt:1- taw-~Barraurr.
<br />i;nlgss Lender snd Barrower o*l:er^.vise :: roc :n :j riz;..g, ir.~ural:cr }proceed; shall be applied to restoration or
<br />zapsi of the Propertc damaged. pr.,tidcd >. -..c~;torati:n or rt•g,s:r is rconi„ni.sli, iissibte an,i the secun-tr of
<br />this Mortgage is rat therebr itr,pair«d- I- sn~~ c~~c~tor_,`:r:: or rep:=ir is not ecomm~icsih feasible ar ii t3,e security
<br />of this Mortgage wyoald Le irlpsired. ;ice astrrs;:rr nmcreus ,i.a3) i=c applirc ?o the sums secured b}• this \Sortgage,
<br />with the escce:, ii any. paid za Bar; c•;, ~r l i t •.r Pro;" . t ~ .. -,hsrti.~nr+f ]n Barrv,wer or it Barrower fai3s to respond
<br />to Under w-itain 30 does after na?:cr by i-ender to Ror:owe* that rile ins?rrar:ce esrrier oi;et~ to settle s claim for
<br />inaw-ance benefits. Lender is sutherlsrii to cd3cct sn.i apple rite insurance r*oceeds at Lender'. option either to
<br />re5.or?tion ar repair o- t}:e Pra}.erty ur ti, rite >unls secured !.w- ti,is Marcgsge.
<br />1'iniess Lender and Borrower otherwise agree rr: writing. srly sucl: spnlisation of },racenis to principal shall
<br />not extend or postpone the due date of the alanti:;y mstatlntents rrferrc+} to i^ parsgrsphs 3 and Y hereof or change
<br />the amour* of such instsllmenta.
<br />Ii under paragraph IS hereof the Property is sequireci by Lerdrr, .iii riaL+t, title snd inzerest vi Borrower in
<br />and xo arc it 4rance t3a}ivies s*1• to al„i t,- *,l:e ;?rorrr•LSS ti?erri?f stn t3:c- extent vi the su€ns =ceu2~d bw• thi- ~iort-
<br />gsge ir~tnc-diatel}• prior to ,uc safe or we;ul=,tion ~ r>u!tin_ itY,u: dsn;xge ?~~ ti:e Prot,ert. • rior to the Sala or
<br />srquifitian shall pass to Lender.
<br />6. Preservation sad Maiaisaanee of Property: Leasehoida Coadominit>,ms. Borrower =hail keep the Prop-
<br />ettg ixa good repair and shall not pz^mat or commit .caste :n,patrme nt. or :err.^,aration of the Yraperty and shall
<br />:err~ply with tl:e troy,~im~: of an~• 3esse. ii tt:s ]lortgaEe := i,t. _t 'c~*et:[u± I: ti:is \iangsge i, __• a candeminium
<br />unit, Bormcrer saa31 perfa_rn? all of $orrower s ~~ atlilLi_ ~ :.der t-_. de::arsuo-_. of rc„_..±mni;?furl or lna-zee Seed.
<br />the by-]stars snd regulstior~; of rite eandominlur.: ;:-ro;:-,t ss:: tors=_=rlcr.; :io,~~me^ts.
<br />T. PtoteChOa Of LaadeI S Seeunty. !: Barrt!n'rr :slip ?O I•rriarr.: the rowr;;snt< at„i agreements contained in
<br />tats lforrgage. or ii soy action or }~rocrrcain>; is icn,n::,nee:; :w}:;ci.:+.,s;erayiio a~trrt- Letder's interest in the Prap-
<br />ezty, including, but rat limited to rnlinrtr, .!omen:. .,_ ,. ..ra:r ;oar t•njarz`r'rnrnt. or nrrangemrnts ar prv=eed-
<br />inge in. olving a bankrupt or decedent. taen Lender .,t Let:.lrr~> o,:t3on_ upcar. notitc to Borraner, tray make such
<br />appearan,cs, dbut~e such sum and take suci: actin!::,- :< :a-resssry t-o protect Lender's interest, including, but
<br />not.lirnittd w, dbtusrrtert ai rases^iti,ii ~tt~rl;es•'> ;zr, sr,~: ertn u]?an rise Pra}yen} tt, make repairs. inx•
<br />d 3 d± t,s„d~ - - - .i. _ rt_~ ,I ame sd.ttiorsl .ndebt-
<br />a,:~•snts IF `nt".,° 'w- ~. * 1T1 . ..... ... .... .sgra'y`.• .. ., , .., ... _. . .rivn. _ lal Jr?:
<br />~in~oi $armxersecu;ri In• -.•~4\Itrtysgr-L-ni~= Bar-,t,uier snd`la~tdrr ogre-c to other terms ai payment, such
<br />am~aats shs3} be paysbte upaz, :.aUre ;rorl Ler.==+er to Borrower "ryuf'=ring payment thereof. and shall bear inter-
<br />est from rr'le date of d;•sburser.:e^,t st tl,r rate state: ? , t:te \ate unless Itayn=rrt of intel•~t at such rate would be
<br />cantrars to appltrab;e law, in whirr event suer: anlaunt= steal; !-mar interest st the higile<t rate permissible he
<br />applir-able s~s•. \~+thi=, ecnzsirh-! i....._ l-sragrs*.', ....,... .,: I_-.]:der -r, :near any exLansF er do any act
<br />hereunder. ~ -
<br />8. I~etioa. Lender ciao}- tcs's.r or eau-t to ix tna<le ressvcai!ir rt,rrir- upon an:{ itsp~,tion< ai ti,r Pr~p-
<br />erty, Uravi.,'ed that Lc-ndzr -i:s11 give Borrowve-* ni,?;.r ~+nar t„ :,~,v ,., !: tn,l.r,-•t=.rr. -t~ertf~s::;; rrasenai,le eau=e
<br />therefor related to Lender': rnterest ra ti,e Proncnc
<br />9. Caademaatioa. The prtxeeds ai am• swami ar ; Iaim for ,Sxmages. dire=^ ar consequential, in connection
<br />wcivh any cadenutatiori ar tither taklr~g o t,e Pro}x=rt}•. or }pan ti:.•rz-i!i, ur for xar;veyance in lieu of c•ondernnu-
<br />Lion, are hereby assigned and shall be paid to Lender,
<br />In the ere~nt of a rata] [slang ai t};e Propene. the ]rroeredis ;half '!e applied to rise -urns cured l.!y this Mort-
<br />gage, with the eaves:, if any- paid to Barrawver. In the event of a partial taking vi the Property, unless Borrower
<br />aitd i:eader otlte_t•svise agr~ _n w-ri*.Wg, ..err -i,u!1 }u- ~;,;,!~~:? ,o rlt~ , ulu. 4ecu.w-I I+c •>,:. \ia^tgage _..ch pr~por-
<br />tion of the proceeds as i. equal to that pmpanian which ti,~e atnount of the sums .-enured by thi: \lortgage rznme-
<br />diately prsoz to the date of taking bears to the fair market raiuc ai the Prolx•rt}' immtiiiatelc prior to the date of
<br />taking, with the balance of the proceeds paid io $orrower.
<br />If the Property is abandoned bx $orraa-er or rf after natice~ t!y Ler:der to $orrower t}:at the condemnor offers
<br />w make au award or settle a claim for iiatuagea, Barrower iail~ tq res+ond to Lender within 30 days of the date
<br />of 4ueh riotiee, Lender is authorizer! to ,-•oltert and ap}!tv ti,e }7rc,'crJ> zu L<nrirr'= option c•itht•r w resuxatior! nr
<br />repair of the Property or to the euuv eecurnf br this Mrercgage-
<br />utn;~ x~= ;:t.d uarrzw~ vt'„tz'-wt~ age r=, nnisng, any' auv}s appltcattan of proceeds io i,rin:~lr,3i .siiali
<br />w
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