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<br />If under paragraph iS hereoi tL•c Propert}• is sold or rlw I'ropert}~ is othere-ise acquired 6}~ Lerdcr. fender
<br />lira]] apply, no later than iuuuediatcly prior to rho stlc of the Propene or ih scr}ui~itiou 6t Lcndrr.:my Funds
<br />held by Lender nt the time of application as a credit against ;he sours secured ht thi. MortRUhr.
<br />3. AppHeation of Pagments. Unless applicable Ian protides otherwise, al payux•n;s reccited it}- Lender
<br />underfhe?vate and paragraph, 1 and 2 hereof shalt be upplie,l h}- ].ender firer in pacn.enc of ;uuuunts parable to
<br />Lender by Borrower under parsgrapir 2 ltereof, then to inttrest parable ou the Ante soul on Putmr Advances, if
<br />sure, and then to the principal at the Aote and to the prinripa; of }]duce adv;ux•c=, ii any.
<br />9, Charges; Liens. Borrower shall par ail taxes, asses`usn=s and other charges, lines and impositions attrib-
<br />utable to the Property which may attain s 1',riority ater this AIartgage, and grauud rents, ii any, at Lender's
<br />~ option in the manner provided under paragraph '? ?iereui or he Borrowc' making payment. when duce directly to
<br />~ rho payee Thereof. Borrower shall promptly furnish io header all natices of amounts due under this paragraph,
<br />snd in the event Borrower shall make psvmert direct?}~, Bun~orve; shall proml~:tl}' Ru~ni-h m Lcoder receipts eti-
<br />~% denting such payments. Borrower shall prompth- discharge ant lien which has priority over this Mortgage; pro-
<br />tided, that Borrower shall not be required to disc!rargc any such Lien so long as Harrower shall agree in writing to
<br />~ the payment of the obligation secured by such lieu in a manner acceptable to Lender, or shall in good faith contest
<br />such lien by, or defend enforcement of such lien In. legal proceedings which aperate to pretest the enforcement of
<br />t-he lien or forfeiture of the Property m ar,}- pan t irereot.
<br />~ 5. Hazed Iasuz~ee. Borrower shall keep the in:protements wow existing m- hereafter erected on the Prop-
<br />eriy insured sgaiust loss bti° fire, hazards included within the term "extended coverage", and such otL•er hazards as
<br />Lender mac require and in such au=owes and Tar such periads as Lender rosy require: protided• that Lender shall
<br />sat require that. the amount of such coverage exceed [irat amaur,t ai coverage reynired to pa}' the sums secured'by
<br />this \iortgsge.
<br />The insurance carrier providing the insursrree .rail Le chosen ht Horrowrr subiec•t to apnrotal be Lender:
<br />urovided, that such spprot-sl s?rsli not be uttreasonsbl}' n ithheld. 311 premiums en insurance policies ~6a11 be paid
<br />si Lender's option itr the manner t~rotided carrier psrsgral>ir 2 hereaf ar he Borrower ;uakiug ,~a} nrert, when due.
<br />directfv to the insurance carrier.
<br />In the event ant policy is not renewed on or before ten days of its expiration, the Lender. to protect
<br />its intermit, mat procure insurance on the improvement,, pay the premiums and such sum shall become
<br />~ Ae~ act r i Sa, sale' uai, 'y'aiia o ~
<br />itnmeaiaieiy a'ue snu' payable Mier isztr rat ar the ; .~ faith °~d 'il t rid _hall
<br />seivred by this Mortgage. Failure by Borrower to comply may, ateoption of Lender, constitute a default
<br />under the terms of this 'llortzage.
<br />3L insurance . alici~ and renewals therrai sitaL i„~ in faun scceutable to I_e:r,ier and =hall include :r st:uulani
<br />mangage clause in istor of ant in iarrr acceptable to Lender- Lender slrst3 pare *, ire right to hold the pa@cies and
<br />renen•ais thereof, and Borrowc; spa?1 gromptir ;s-*_tish to Lender s1i renewal. natic~s and all receipts of paid pte-
<br />;niums. In the erenr of lass. Borrawer alraii ate rrampt notice t ~ rive h'surance carrier :.rid Lender. snd Lender
<br />mar make grooi of loss ii rat made gromgti}' b}' Harrower.
<br />limes Lender snd Harrower at'rerwise spree i.. within. msursr:re l~ro,eeds sl?sl be applied to restoration or
<br />repair a the Frapen}• damaged, pratider. sue-:: nsiorarotr or ny*rir i- econouri~al;t icssii,ie ;roil the securitt of
<br />th Alorgage is sat thereb} imusimi if sue:: reeror:aio;:: _ rev sir is n ..,~...icall} ieasib'.e or ii the security
<br />' the srsurat:ce ;~ro~~~°r,:> >iss:i L st'gr~ici ~o *~r<~sums secured i,y this \lorf a e.
<br />of this \iongage n-auid Lc imuairea, g g
<br />with the excess. if snc- raid to Barrawes~_ If ~. ~, Pro, rrtc i_ ebandaned he Borran er or ii Borrower lays to respand
<br />w bender within 3tt days liter notice in i.rr.,irr :o Borrower ti±at the tnsrrsnce ~srrter criers to settle a claim far
<br />insurance heae$ti. Lender i~ authorized to co':icct snd apple ti;r incurs:rte pra.eeds at Lenders optio._ either to
<br />restoration ar repair of the Property or to tiro scans secured Lr thi> \langage.
<br />Unles Lender snd Borrawer atitencrse acrt~- v; writing, auc loci: aaplicatiet: of prodds to principal shall
<br />not extend ar nck.pone the due date of the manthly i _stahr:rents referred to in l,srsgraphs I snd °hereoi or chsat;e
<br />the amount of surd installments.
<br />Ii t>nder;aaragra.,h 1S :rem~f *. ._ Yropenv i. -r~ur;•etl bt Lrrder- a., rigl.t. title snd interest of $orrawer in
<br />~,d w auc msurancr pa?fries snd in an a to the proeer!is tSrerroi ~ to th.~ es[ent - luny ~°or,r,,i b~' the 11on-
<br />gage irt.mi-distt:}' l~~rior to suet; ssk~ ar :.caul=iue,^^, ~ re>..;itin_ 'von, ,?sruai;r to ti;.,r.Yrop:rt>.- ~ ...r to the sale or
<br />at~uisition shah pass to Lewder.
<br />6. Freservatioa trod Mamteaance of Property: Leaseholds: Coadomini;'n+= Harrower =hall keep the Prop-
<br />ert~` in goo,i re} -.r --. ; =a : 7'~ ._,. - ,_ » 3_.z - - ._... viet~rioratia:r ~. the P-cr.ert3• snd shat;
<br />comply with rise pra~iians ~oi ny lee.: ^t s~~hort_ _ .. ..: .es~ ..-_ Ii .i:is llor_ae' is on a condominium
<br />unit, Barraa'er sira':1 periarrt sli ai Borroatr,_ oi~li<su:n.`.nder *... .r~;arcort o: rondontinium ar master deed.
<br />the by-laws snd regulatians of ~ .e cosdonumwr; nn~~r. ~~„i ~ ~.,_,itur:r•. dacunxrt-
<br />7. Protection of Leader's Seeuriiy. li Harrow e: ist;- to lvric~nr. t!ie rot~•nsn;> st:d s_rrements cartxined in
<br />this Alongage, az 4i any anion or,~rxerdiag !s conin,enc; i n iu, is rsieric,iic s;tect Lc-rder s interest in the Prop-
<br />erly, including, Tut r,ot ht*mt2•d to, rnvnent donsiu. u:.>o,rrrue} ••-ode ;-nimrem~•nt. or srrangemenr or proceed-
<br />ings incelving s bankrupt or accedes;, then 1_2~nder :s; ]-r.^, jcr s of:t;oir, u.,uc: notice to Harrower. may make such
<br />sppeazttnrer, disburse sue'.: =:1inr snd take such levier. a .. assn' to•pro[ec=. lender's interest, including, but
<br />not limited ta, d;=buraetvent of :eacarat~lr sttorrey'> ~-• anderr.=.~' upon the Prapere,' fo urske repairs. Any
<br />an'xiunt€disba~.: br Lender cur=,~~nt 'e *.hi= t+sra,r_it:lc :. ,tit'+.: interest there.,;,, shah Lecen,c sddi=_iotial indebt-
<br />ednessaf Ba.-roarer azcnred br thi- }lortgnge. I"nle~ T.3~^vnet s x: I_r~nder agrze to other terms of payment, such
<br />amounts shah )x papabie oyes notice fr,r.: Linder is Sarrawer requesting payment thereat. at:d shall bear inter-
<br />est iron the date of disburem~n*, st t're rate _tste~i _n rise \ote can?ems payment of interest at such rate would be
<br />eontsary ter applicable ?su, in which event anti: smcunts shall bear interest st the highest rate permisibte by
<br />arpaile ,sw. \stlrins ontained in tht< -.rages};Ir shat. re;lwrt• bender to incur any expersc or da ant act
<br />herelIDder.
<br />& lncpaetioa Lender rose make or rsusr t~ 1. ;na,ic reasorah?e entries u;>an ar,;i inpeetian= ai the Prop-
<br />a-tp, pivvided that Lender ::ail glee Borrawer ::car,c ; r;;:a •u a;rt . ur•1: ttrsl,ertinr, ~;,ecii3'ing res<anahle cause
<br />tfterefor related to Lender'; inter;;n in the Praprn}-.
<br />$. ~":;~. Tle pr~2e+:,s o swam ar .lain; ice- da;uage;.ire:.t ar c.;r,setiuentis?, ir. cannectiar.
<br />aaith cent randcnnnatiov ar otlser tatting oi~ti-,e Pralx•n}'. or ?a~n thrr:writ ar for cat,tiec~ince in lieu of condemna-
<br />raon, are hexbe ass.gned snd ?}:alt be paid to Under.
<br />Ice the event of a total taking ai the Propertc, ttrc proce~t- -ball l,r applies to the sums secured bti• this '1#art-
<br />gage, with the elec.-i,, i2 env, paid to Borrexe;- In ti;e event of a psniai taking of the Pralx•rty. urries~ Borrower
<br />sad Lent?<er otlterw•iee agn:e in writing, there slrail be agplierl to tine sums secured in• this Martgage such propar-
<br />tioa of the proreells am is equal to that proportion u-Iricla tl,e atuount of the sums secured by this Mortgage imme-
<br />distely pricer to the dart L+I taking bears to the fair vier>et value of thc• Property immediate]}• prior to the date of
<br />tslring, arith the balattce of the proceed=paid to Borrawer-
<br />if the Ptope-i~ is abandoned by Borrower or ii after notice br 1_ender tr, .Borrower that the condemnor offers
<br />to make an sward ar settle a claim for damages, $otrower Tails ; o resuond to Lender within 30 days of the date
<br />of €uth notice, Leader is authorized to trol3ect and apph• the proceeds st Lender's ogtian either to .*estaration or
<br />zepsu of the Property or fo the gums , er-,reed by tlty _llarigage.
<br />Unless Linder and Borrvwez otherwise agree in writing, any such applicatian of proceed- to principal shall
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