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<br />If under paragraph ]8 hereof the Properi}- is soil or the Property is othencise acquired by Tender. I•ender
<br />. =hall appl}-, no later than iunnediatcly prior to the sale of the Yro~,crt} or fir acquisition Irc Lender. any Fends
<br />held by Lender st- the time of application as a credit attainst the sum: eecured h}- this l[ortgage.
<br />3. Application of Payments. Unless ap}?linable law provide, otherwise, all payment.=. received be Lender
<br />under the Noie snd puragraplis 7 and 2 hereof shall he applied Ly Leader first in paenler,t i,f amounts p;7yab!e to
<br />Lender by Borrower under patagraph 2 hereof. then to interest },a}'able en Nu Note ana on Fuhirc _~dv: races, if
<br />- soy, and tben io the principal of the Note and to the principal ai Furure :Adt~anecs, ii a21v.
<br />4. Charges; Iaeas, Borrower shall pas all tales, assessments and other charges, fines and impositions attrih-
<br />uiable to the Property +vhich may attsin a priority over this \Iortgagc. and ground rents, if env, at Lender's
<br />option in the manner p.*ocided under paragraph 3 f;ereoi or b\- Berro++-er making pacmeni, n•hen due, !ireetly to
<br />the posse thereof. Borrower silsll nront}rti} furnish to Lender a]( notices of sn2ounts due artier this paragraph;
<br />snd ir, the scent Borrower shall make F;I\-nlcat- direet!y, Borra;cer shall prmnpth- furnish to Lender eceipts evi-
<br />deneing such psyntents. Borrower shall protnpth• dischsrge auc lira which has prioriq~ over this \Te rtgage; pro-
<br />vided, that Borrower shall not be required to discharge any such lien so Ieng as Borrower shall agree i 1 writing to
<br />- the ga;°ment of The obligation secured IJy suc}i ]fen ill a manner seeeptsble to Lender, or sbal( in good ia;t`.; ~~ntest
<br />such lien by, ar defend enfarcement ai sac2:i lien h.- level proceedingz ,chic6 opertte Ta prevent the entarcement of
<br />the lien or forfeiture of tits Propem~ or anc Hart t!)ercei.
<br />5. Hazard Insurance, Borrower shat; kee;, the iul,v-ove2nents no,e cxistin or hereatter erected on the Prop-
<br />~ erty insured sganst loss by ere. Itsza*_ds illoluded :within the teen) '`extended cocezage• ,and sash abler hazards as
<br />~t Lender may require and in shell smour,ts anc or sne!t };eriods a~ I-ender may requirre: provided, that Lender shall
<br />not require that the smount of suci7 co. snags :-weed :...., amount of roreracr n~quired m pay the sums secured'by
<br />~ this \Iertgsge.
<br />{~ The iesarancx csrrier I?raviding the i2~urn)::<• :hs;l i•c cllosc:l !,.~ Borrnver suk,;ecT So spprovsl by Lender;
<br />~ provided, that such approval shall eat F.e ttnreasrnsiily withheld. AL nremiunls o2t insurance policies shall be paid
<br />r at Lender's op€4en in the Instmer procidet; t;rarer ;,ars,r.Il,i, ^ I,ercoi or h\~ Borrower mskinc ps\-menT, when due,
<br />i directfy to the insunlnce cazrier- -
<br />~ In the event any policy- is not renewed on or before ten dacs of its expiration, the Linder, to protect
<br />~ its interest, mac procure insurance on the impmcemen[s, pa}- the uremiums and such sum shall become
<br />immediately due and payable +rith interest at the rare set forth in said Hate until paid and shall be
<br />secul+ed by tltii= Jlortgage. Failure by Barrawer io comply may, at aption of Lender, constitute a default
<br />under the terms of this 'ilortgage-
<br />~li insurame palieies snd rer:ewaL t,.i-r.-ni >, ;,L be in form srcr},fable to Lcmlet .Ind <#,aii iveiude a standard
<br />Snan~ge clause is isv'or o. and in icon aeeepshle to Lvnder. Lender >hsl hsce rho ti';ht to hold the policies and
<br />mnevrals thereof, snd Bormtcer shall prompt;}- iunlish to Lencirr all renewsl t;otices and all receipts ai paid pre-
<br />miutns. In the event of foss. Borlvirer ;hail b'i-•2 prompt novice to Si:e )nsursrce csrrier and Lender, sod Lender
<br />znay make prcai ai loss ii not male proala?iv i>y Borrower.
<br />I.-n;-255 L2.?`~;~' anL BE3rr'OU-Cr U':i:C'I-R't3Y a~. E-P i : [+-r'_i li:~, 111~t11•:IliCC y`-rc~t'eFQn ;n81i !32 3p}J 11Pt1 IQ ICSi OI-a€IOn Or
<br />Iepfllr al tIle PrOpert\' 1tamS~e 7. ~~`it\]di•v sae2: rPSTaritl6^, ttr reFa1T ). rl'i P.OS:l;eaii\' .r~lnfe :it:Q the cCCtlflt\' aI
<br />this \iatf ;cot tl_ereb}- =~*r,sirrd. I± suc!::rstorttio.: m- repair is , eco•:on:ii: -
<br />Sa~'--- •- r tot I;;r ie'a5itrie or it the security
<br />of t~is Zloltgage \eauld be it2lnaimi.:l:e_in.,lrsnce proer-~~s silai! i,e anp:i ~ to tI•r suu2s seeurY,i by Tliis \longsge,
<br />n-itb the z'zcea, ii env, psid to Borro:T et Ii the Yrapel'ty is sbsndored by Born,wer ar ii Barn?wer fails to r~pand
<br />to Leader within 3D days liter notice by Lender to Borraeer that th. insurance csrrier offers to settle s claim for
<br />insurance benefits, I-er•der Is autborirY~_ to collect and sppiy the irsurtnce praceeds at Lender's ol:rtior: either to
<br />re5toratitu7 cr repsir of rile PrilFerty or to tie sums secured by tht> \longsge.
<br />Unless Leerier an,i Borrower othernise spree in trriting, any suc1: appii.s*.ial; ci proceeds to principal shall
<br />eat Mead or pastpon2 the due date of the trcnthly it:stsiintents reiertei to it: asraeraphs I snd ° hereof or change
<br />the smount of such =_nstsllme.-/~.
<br />)•i under rarsarapl: 13 hereof ti,c Y:t:Frzty is scqulred irv Let;de:.:c:'- Figi;t. titir ana imYrest ai Borrower in
<br />and tt+az,y IP,_ltaIICe tv`,lirir_ xnd u. an,1 to. isle pr s,rrs ti;rrri+ •to t... exiera c. t` t!•s surli bra:[net= b\ phis lior-
<br />gage ~^3II'IedtatE'1}- prlar TO •L'C!. sa:~ ~- _-•. ~:;2-..)Qt. .s. ~.. _ 'R", .. a'.IiY~:E' .. ._-c PrJ[*ert \'
<br />scaq;7iatian shall pass i L e { or tc= the :lie ar
<br />fl Hue..
<br />& i~ervafioa and ASaiatea~lce of Properly: Loasa6alds; Caadaminiums. Bortawer =hail keee the Prop-
<br />2741 In is-•,tYJ£; IY'-`•333F a!:v Chi: n0? i,2S^i2; l.' :.IDI:1'-: .i'~:te. )'_ dal^.:)P':t. cl: '; ;2:1t: !'a??it:: tt. ii;P FN~2rty 8nd eI`al
<br />coiripiy nit the pzavisians of any ieas~=. ii thL- \lor.gsgr 1~ r. s irssc•_.:,:::. Ii T.1)SS liartgage is ail a ecndominium
<br />I:nit, Bozmx2r ccsll periarm sit a Borrower _ of„tgsvot:: tr,der t ie.is^:?ion of ce niiet:ririu:u ar :,ter deed.
<br />tl>:2 by-iaWS 8IIC 3Y'.g'11at10ii: OI t:le iOt:C CA)Ir:lna 2'~N;Pft ante ~arts[1TtieI)r iji>'";1;nYn:?.
<br />9. Pzoleetion of Leader's Secarity. If Berme rr flits to },eriorln the cove::srt- sou agreements contained in
<br />till _llartgage- ar ii sac sctirnl or prilecedirlg Is .onltnrn.\~ whiz:: tnstcrisll\ st cct- I,r ,tier's interest in the Prop-
<br />ertc, iarlud;tlg. cut :,o*, tmited to. eaunent uc-72!air:. ~z-nzy. gait rniorernli2,t. ~,r arrsngen)ents ar preeeed-
<br />ings in-alcing a i,snkruFt ar deeedrnT, tile;: Lender st-3 ~=nder'= ont2on. uFan ;railer to. Barroci~.r. n,ev ulske such
<br />spPest-snt~. disburse s,.~.. lutes and t.-eke v..; action :;_ , I;e,•r=;sn io l,m: ~ ct Lender-s i:.tere5t. iacludiag, but
<br />not iirai~,R73 ta, d25btt1'serucu*, ai ma_Kanab,`r s*.;arner: ize_ :;Ilu r•?try wren: the' Pm}env to make repsir_-. any
<br />atat;TUrta>di.~ar.-:c~i by LRn,:er },~lr=usnt ;o this },srsgrsp: ~. uiti; interesT tiiereor:. still; i,rcotnc sdditional _ndebt-
<br />edr.~ ui ~zr sr~:ir2ci ,~ °.-_.- yiongspz. 'L'n;zsr B•ar;,:•wer and I.rnder agree to ether ternls of I:s}-meet, such
<br />smounts s¢aL' be psyabi= ul,o€: noTlce ir;,n: i.rr,•jrr SJ Be*^o~.\er requesting paymenT themoi• and shall bear inter-
<br />~ from the .;ate of till-t,ur_~e~ent at they rstr u,sted in t..r \ete unless payment of interest at such rate would ht
<br />coalraly to apFl7cah;e fait. in w,licl: ea•en? our: arnaua?; shsl? bear iutet•est at file I)ighzst rate pertniasible by
<br />applicable Iavc. \othing ca.taanr.: '±: t!1?- :,srgra;,;: Shsil require Lrnde,- to ;near arc expers2 or do anc act
<br />#tcre®da-
<br />d. Iaspeetian. Lender :*:sy n/s'sr or ,-au-e ;o !,r made rYasonah!c x=ntri~ u}roe sn+i inspertioas of the Prop-
<br />rrty, nrzarided that LerdYr stall dove Borrax-Yr r:atice },Floe Sa ;u,\ -ur1.: in,pecTmr. ~i~eciiyirl~ reasonable eausr
<br />t27es+r#ar zg3nted tD Lend2z's antQrec-t in trK' Pct},erty.
<br />~ Cmde~a~t. The proceeds of any award or claim for damsge., direct ar consequential, in eanneetion
<br />any eta=;~,.,>t{j~ ar oti7er takinz i,i the }*rozirnt. or },arz ti,ere-oi. nr for cuutir+anrr Sn lieu ai can,iemna-
<br />ga~, are hereby ax:gued and shall be paid tc Leader-
<br />In th€ scoot ~u€ s tt~I tsL-ing of the Pro}:vttr. the ~~roc-cK,i..hsll 6r spplird to the suns ,e. aced be the \lort-
<br />gage, trith =.he eseese, if arty, psid t:a Banaxer- in the even[ of a },artisl txKing of the Property. unless BarraR•er
<br />and Lemier otlseruise agree in n-ntir;g,therr slu7ll trY applied to the sinus secured br ibis. \lar+,gage ouch llrapor-
<br />t~ ~ the pt'oeeads as is equal to that pt~artaon rchiell the smount a*' the sums aecurFVl be this Mortgage imme-
<br />' ty ptitx• to Mlle dale of taking 2xt;are to €i3e Pais /uarket . clan ai tale Prapenti° immediately prior to the date of
<br />taking, trio halaaee of the proeseds fusid to Bnrrox-2r-
<br />If tdx Property is abandoned 1 Borraxer ar if niter notice by Lender to BorroTrcr tilai the condenmor offers
<br />to make sn airard or ~tt1e a olefin for dalllag~. $ormner ia:i= to respond io Lender withi^ i0 tiers ai tine date
<br />of lush Mice, Lenderv- authorised to coh`ett assd spplc the proceeds st I.crder i option, either to restoration or
<br />repair of ills Property or to the sums secured by tlsis _llorigagc.
<br />Unless Lender and Borrower ath2rwise agree ir. writing, auy such application of proceed.<, to principal Shall
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