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If under paragraph IS hereof the Property is sole! or the Property- is otherwise acquired by Lender, :.ender
<br />shall apply, no later than immediately prim to th+t .,ale: of the Property ur it, sequisitior: by Lender, any- Iltnds
<br />held by Lender at the time of app]ication as u c•rerlit against the sums secureri by this \{arga};r_
<br />3. application of Payments. Unless aplslicahle lain provides otherwise, ull payments received by bender
<br />under the ?Vote snd paragraphs 1 and 2 hereof shall he applied by Lender first in payment of antounts payable to
<br />Lender by Borrower under paragraph 2 hereof, then to interest payable on the Vote and on Future Acitances, it
<br />any, and then to t-he principal of the \ate and to thf: principal of huturc 3~ttancr. if any-.
<br />4. Charges; Ltens. Borrower shall gay all tuxes, assessments and ether charges, fines and impositions at-triir-
<br />utable to the Property which may attain a prioriiy aver ibis Mortgage, and ground rents. if au}-, at Lender's
<br />option in the manner provided under- paragraph '? hereof or by Borrower making payment, when due, directly to
<br />the payee thereof. Borrower shall prompt)}• furnish to Lender al( notices of amounts due under this paragraph.
<br />~ and int-he event. Borroter shall make payment direcNc, Porrower shall promptly furnish to Len;Ior rece°ipts evi-
<br />~ denting such payments. Borrower shah pmmptiy- discharge ant iicn which has prim~ih- over this \lortgsge: pro-
<br />~± vided, that Borrower shall net he required to discharge any sucl: lien so long av Borroter shall agree in writing to
<br />M the payment of the obligation secured by such lien in a manner acceptable to Lender, or shall in good faith contest
<br />such lien by, or defend enforcement ai such iicn in, legal l;roeeedin~s which operate to pret•enf the enforcement of
<br />~ the lien or forfeiture of the Property or any part t hereof.
<br />5. Hazard Insurance. Borrmver shall keep the. fray+rovements now c•xistiug or hereafter erected on the Prop-
<br />E ertg- insured ng!einst loss by fire, hszards included within the term "extended coverage", and such other hazard; as
<br />~ Lender may requix snd in such an5ounts and for anti: periods as I_cnder may regnira provided, that Lender shall
<br />~ not require that the amount of such coverage exceed that amaunt of ~•average required to pay the sums secuted'by
<br />this 1lortgage.
<br />The insurance carrier providing the insurance shall he chosen be Borrower subject to spproral by Lender:
<br />provided, that such approval shall not be unreasonsbh• tcithheld.:111 premiums im insurance palicics shalt be }said
<br />at Lender's apiior. in the manner provided under paragraph ° hereof or I~n• Borrower making payment. a-hen due,
<br />directly 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 />its interest, may procure insurance on the improvements, pay the premium. and snip sum shall become
<br />immediately due and payable with interest at the rate set forth in said rote until paid and shalt be
<br />-,fired h+, th.~ Mortgage P'aitu.e t,. ~, ,., ~~. t „ '
<br />^rraw•er ' :tp y -° _•, at apt;an of Leader, eanstitute a default
<br />under the terms of this '1lortgage-
<br />all insurance policies and renen•als thereof s!;sli h,~ in form acc,~ptahle to Lender and shall include a standard
<br />mortgage clause in favor of and in form scceptsble to Lender. Lemier shall h;ice the right to hold the 1+oticies snd
<br />renewals thercaf, and Borrower shall promptly furnish to Lender all rene••:al notices and ntl receipts of paid pre-
<br />miums. In the scent of loss, Borrower steal: gi•re prompt notice to ti:e insurance carrier and Lender, and Lender
<br />may make prom of Ions ii rat made promptly hr Borrower.
<br />Unless Lender and Bormw•er at};ens-ise spree in isnting.:asurance proceeds shall he applied to restoration or
<br />repair of the Property damaged. providc~9 such restorrion or n•}~air is cconumicaily feasible snd the security of
<br />this Mortgage is no*_ thereby impaired_ Ii such rector:=tion. or repair is net cromm~ically feasible or if the _ecurity
<br />of this ~Iartgage would be impaired. the insurance !sroceeis si:ail !•e apl~iied to the ,trots securemi ln• this iortgage.
<br />with the excess, i*" ar,y paid to Borrower_ Ii the Pripet ~y is ahandmmd by Borroccer or ii Harrower fail, to respond
<br />to Lender within 3fl data after t;oiice Iiy Lender to Borrower that the ins.raree carrier oft'ers to Bettie a claim for
<br />insurance benefits. Lender is authorized to called and apply rite insurance praceeds st Lender's option either to
<br />restoration or repair of the Propem- or to the sums secured by this \langage.
<br />Unless Lender and Borrawer etnencise agree in writing, suv sui•!: app?icauaa of proceeds to principal shalt
<br />net erttend or postpone the due date of the momhly instailmenrs referred to in l;aragraphs 1 and ? hereaf or change
<br />the amaunt of such installments.
<br />U under paragraph ifi hereof the Property is acquired by Len:ier.:ui right, titlt: a'?d interest of $onower in
<br />and to any insurance policies •snd in and to the proceeds ther~i ~ to c:+- estcnt of the sum< secured by this Jfort-
<br />gage immediatety prier to suet; sale or acgm-itian~ rc. uitin•~ irony dart:g~~ to tlu° Property prior to the sale or
<br />aeouisition shall pees to Leader.
<br />t>. Preservation aid Maintenance of Property; Leaseholds; Condominiums. Rorrow-er shall keep rho Prop-
<br />erty in good repair and shall not permi! ar camnit seats. irtpairn~nt. yr d2terioratien of the Propem' and shall
<br />comply with the pravision~ of am• lease. if this Mortgage is on a ieascl:o'.~1. Ii t°,is ~Iorigage is an a condominium
<br />unit, $orrower shall perfam: all of Borrawt•{s ahligstion, t:m3er fife deciaratiar, of condominium ar master deed,
<br />the by-laws and regulations of the condontirium l,roject snd constituen+. document;.
<br />?. Profedioaol hendeis Security. If Borrower isi!s ro perfecta the rovenst:u and agreements ecntained in
<br />this _lortgage, ar if any action or proceeding is comtrterce:i w hicL tnaterislly sriccts Lender's interest in the Prop-
<br />erty, including, but net limited to, eminent domu:r,. it;soi•;=•ncy. ~oiic +niorcrtncnt. ar :,rrangrtnent; or nraceed-
<br />ings involving a bankrupt or decedent, then Lender at Ixnder's optian. upo:. notice to Borrower, rnav make such
<br />apgearsnces, dibur*e sueit sums and take sucl: aetian ss :~ racer-scar:- zo p7:ntcct Lender', interest. including, but
<br />nett m,~*~ to, disbusement of reasanable attarney's iee• and carry- ttpo;, tl:e Prop=.rt*: to make repait*. Any
<br />amotmLs disbursed by Lender }::r=usnt to this F3rsgraph 7, tcitle interest thereon. ;pal: becar3ae additional indebt-
<br />edness o! Borrower secumri by tflic Mortgage. Unless Borrower and lender agree to other terttts of payment, such
<br />amounts shall be payable upon notice fram Lender to Borrower requewting pacmert thereof. and shall bear inter-
<br />est from the date of disbursement at. the cafe. s±ated in the \otr unless pavmetrt of intere<t at such rate would 6e
<br />cauttary to agplieabte taw, in which event such amaunts shall tear it,ter~t st the highs<t rate permissible by
<br />apglieabte law•. \othing irontained in this paragraph i steal? rcr}uirc Lt•nder to incur any extrerse ar do any art
<br />t;ereunder-
<br />~. Inspection. Lender .na}• make ar truce to br made rea-onahh ~-ntries ulwn and in.prction- of the Prop-
<br />°'*Y, prorid°a that Lender shall gis-e Barrow°er notice prior ra any ~ut•it in~l>eeticsn ~perifyinL; reasonable cause
<br />therefor related to Lender's interest in the Propertc.
<br />!. Coademaatiory The proceeds of any award or claim for damages, direct or consequential, in connection,
<br />with any t~ndemnatian or other taking of the Prape°rty, or parr tlrrreof, or for canvevanee in lieu of rondemmi-
<br />tion, are hereby ac-igned and shall be paid to bender.
<br />In file event o! a Local taking of the Property, the proecr•d- ;hull !M al:plied to the sums secured by :,his Sfort-
<br />gagt, with the excess, if any, paid to $orrorver. In the event of a partial taking of the Property, unless Borrawer
<br />and Lender otherwise agree in writing, there shall be aplrlied to the sutras see.utrd by Lhis Mortgage such propor-
<br />tion of the graceeds as is bqual to that proportion which the amount of the sums secured by this bfortgage imme-
<br />diately prior to the date of taking bears to the fair market value of t!re Propertc :mmediateiy prior to the dale of
<br />taking, with the balance of the procec s paid to Borrower.
<br />I! the Proget•ty is abandoned by Borrower or if after notice by bender to Borrower that the condemnor offers
<br />to make an award or settle a claim for damages, $orrnw•er €ails to respond to Lender within 30 days ai :he date
<br />of such notice, Lender is authorised to callect and aoph• the Irrocuec~s a± t nnder's option either to restoratian ar
<br />repair of the Property or to the sums secured by this \lottga ;e.
<br />Unless Lender and Borrower otherwise agree in writing, any such apolieation of proceeds to principal shall
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