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<br />If under paragraph 18 hereof the Yreperty is =old or the Yroperh' is otherwise acquired ht' Leader. I-ender
<br />shall apply, no later than inuucdiateh- prior to the sale of the Propert}- m~ its aoquisitiun by- Lender. any Funds
<br />held by Lender st. the time of application as a credit against rho ~uws x•cunvl be this A-Im-tgago.
<br />3. Application of Fayments. Unless appiirthlc law prot-ides othertrisc. all payments received by Lender
<br />under the Vote and paragraphs 1 and 2 hereof steal ho applieri by Lcnrirr fu~at in pacntent of amounts payable to
<br />Lender by Borrower under paragraph 2 hereof, then to inn=rest psyahlr on the Soto and un Future advances, if
<br />any, sad then to the priroipai of th, Vote and to the principal of Future Adt'arcos; it sn_r-.
<br />4. Charges: Liens. Borrower shall pay all tales, assessments and other charges, fines and impositions attrib-
<br />utsble to the Property which mac attain a priorih• over Hits \Im'tgage. and ground rents. it any, at Lender's
<br />option in the manner provided under paragt:•tph °_ hereof ar be Borrower making payment. tehen due, directly to
<br />the psyee thereof. Barrower shsll promptly furnish to Lender all notices of amounts due nnder this paragraph,
<br />and in the event Borrower shad mske payment directly. 13orroxer shall prompt)}• furnish to Lender receipts et•i-
<br />t`- denting such payments. Barrower shall promptly discharge anti- ;ten which has priority over this Mortgage; pro-
<br />~ vided, that Borrower shall not be required to discharg+~ any such Lieu so long as Borrower shsll agree in writing to
<br />r« the payment of the obligation secured by such lien in s manner acceprilrle to Lender, ar ahsll in good faith contest
<br />~ such lien 6y, ar defend enforcement of such lien in, legsi proceedings winch aperaie to pret-ent the enforcement of
<br />~, the lien or forfeit-are of the Propert}• or sat- par=, thcreoi-
<br />~ 5. Hazard Insurance. Borrower s}:aii 's-eep ti;c iio raven:enis uox existir~* or i:ereafter erected on the Prop-
<br />erty insured sgaivst lox: by fire, itazsrds included witlrit: the term "extended coverage". and such other hazards as
<br />Lender msr require and in such amauas and for aurit periods as Lcuder may rrquim; prof iticd. that Lender shall
<br />~ not require that the amotnn of such covcut,c rxrce:i ti;at amount o: ~ overage required to pay the sums seaured'by
<br />this ~Iortgsge.
<br />The insurance carrier prnt•tr'ing the m< roe:r-_° stilt) be chosen I,v Barrower subject to spproval by Lender:
<br />provided, thst suet; spprovsi =hail not he a::reasonat„y withheld. III premiums mr insurance poiieies shalt be paid
<br />st Lender's aptior= in th; maarer provnled +:nrier _~araerapu '? ];erect ar by Bornncer mskipg pa}'tnent,.when due,
<br />directly t the insurance carrier.
<br />Ia the event any polity is not renewed an ar before ten days of its expiration, the Lender, to protect
<br />its intermit, may procure insurance on the improvements, pay the premiums and such sum shall become
<br />immediatelc due sad pa}-ante with interest at the rate set forth in said note until paid and shall be
<br />secured by this Mortgage. Failure by Borrower m comply mac, at option of Lender, constitute a default
<br />under the terms of this Mortgage.
<br />III in~uranre policies sad renewals r.-~-+~ ... -.. r ir. form acceptable to Lender sad steal! include a sun:.ianl
<br />mortgage clause yr fsvor of sad :.. loan at :; +~abia to Lender- Lerdrr shs}I hat-c the right to Maid the policies and
<br />renewals therea#, sad Borrower shaft nromptie icrosit to Lender nil revetcal native: and alt receipts of psid pre-
<br />miurm. In fife event ai ion. Bartuwer s;sli gitr ;prompt petite to the insurance carrier sad Lender, and Lender
<br />may make praoi of ion= ii act msde aratnptly ny Barrower.
<br />7Jnles; Lender and Borraxer t:tlrernisc a~r~e in wruin,, msurar;ce proceeds stsii be spplied to restoration or
<br />repair ai the Propem- dsntaged. provided s rtsuiratio:: or repair is econo!niralh- frasiF.le and the serurit}• of
<br />this \iartgage L pat tl':ereht inrpaircd. Ii su'^i, restoration .; re}fair is not e,•on~-mirslit feasible ar ii the seturitti•
<br />e? €hs \iurtgage tceuld be imnaiml, t::e :sa;~ttre pracee.'s slay=. he sppiiai [o the sump securt>d by th[s \fottgage.
<br />with the excel, ii say, Paid to Borrows.. If zits Yronerty :s shandonr try Borrower or if Borrax er tails tc respond
<br />to Lender x-ithin 30 darn liter notice bt- Lender to Bonoxer that [Ice irsursrce csrrier offers to settle a claim for
<br />instrance cenetits, Lender is suthorized w collect sad apply nc~ insurance pre. zeds st Lender's epziorr either to
<br />r~-toration or repair of the Ptv}xrty or [a fire =ants secured by this \iortgage.
<br />Unisex Lender sad Barrower ati:ern'ise sgree ir. writing. say such anplicsuor. of }?rnceeds to principal shall
<br />not:xtend or postpone the due date of the vroutfrh- instsiln?ents referred to in paragraphs 1 and 2 hereof or change
<br />the amount of such in-=tallrnent.
<br />If tinder paragt-sph 3g hetea# rtes Ympertr is acquired b}- Lender, sl rigi;t. title sari interest of Barrower in
<br />and to snr inst:ranre }u~liries sad iv a..d to the nrixYC-t•s tl.ereei +to thr extent of the sums =rct:rtd bti- thi; Slort-
<br />gagt immediately prior to such sale or sc~uisition ~ resu}ting fmm dsmaee to the Prapenc ; - or to the ssle or
<br />sequisitan shah piss to Lender.
<br />G Presezvatioa end 1!dlmnteaance of Property: Leaseholds: Condominiums. Barraxer shall keep the Prrop-
<br />in gone tepsir ar;d sns;i n }+ermit or camsit caste, imrsirrne;tt. ar deteriorstior: of the Propem• and shalt
<br />o~tpiy with rite protdsiens of ley lease. ii thr_ Martgsge rs ov s iea;ei:vii}. Ii this Mongage is on a condominium
<br />unit, Btsrrowershail t.zriorar sli of $nrraxer's ot?]tgstto.:s under the derisrstior. of condominium or mater deed.
<br />she by-laws and regulations ci t ~e tondonnniwtr l~raleet srad ranszitu~m document..
<br />7. Proleedonof Laadeis Security. If Borrower fui'!s to perionv the covensnts sou sgn_uterts cavtsined in
<br />ibis Mortgage, or ii avv sttion ar nrateeding ; :smart-nct;l xhit•i, :unterislh' sri<•ct- trader s iutemst i-^. t::^.e Prop-
<br />erty, including, but rat limitca ta, emirs^*, dot::a:::. t - olt~•n,}. ~oa~ s•nforremr~r?. r~r : range:uents ar }?roceed-
<br />ings int~olring a baak-r°,ipt ar decedent. ther. Lender s;~]-ender s option. upon notrre to Bcrrax'er. nrsr make such
<br />appearance`s, disburse sup.', swvs and takr cur!: sc:ian :e- :- necessary to prefect I_ev~ier's interest. including. but
<br />not I;mited to; dr_<ln:rsetrtrvt ai trs_~vst~lz s*.tarner-> :ez< sari en*, n- upat: tlrt Yro},ertt- to :Hake repairs. 4ny
<br />sIDO.tnia disbursed by Lender pur±uartt to ti:rs psrsgs•s}rl:: , n-itL interest thereon. sh~li +eto:ne additions) indebt-
<br />#~rc3a of Borrower secured be =-i;.- ?Iartgage. i'ni~ Barrower sad i_ender agree to at'rer tern>< of payment, such
<br />amotmts shall be payable upact notice freer L-vie- to Borr~xer requesting parrnent thrrroi. and shall bear inter-
<br />esi L*om the date ai disbt:rsemznt st the rate ststed in fire \ate unic~s paymem of in-erect st sfeh rate would be
<br />contrary w appii>ble lax-. ir, which scent suer: amannt~ shsli }>zar ;merest st the highest :-ate permissible by
<br />applicable law. \atlting contsinad m t!:is t+sragrspi; : _ha! rer,uin• 1_~rder to incur env expense o* do any act
<br />izeretmder.
<br />8. Irrspeetiam- Lender mss funks ar cause ro }x tnxrfc ressonshic ±r;tries utaon sn. irs}+cetiars of the Pmp-
<br />eny ptvrided that Ixndrr shall give Borrower natrrr },nor try ar. ~uci; inspection •,,ecifrine reasonable esvse
<br />therefor:rlated to Lender's imerea in the Property.
<br />9. C.andeamafioa- fibs proceed; of lnr sward or claim tar damages. direct ar consequential, in connection
<br />wzi,b any cmndemvation ar atirer taking of the Property. or part thereat. at• for canyeysrsce rn lieu of condemnu-
<br />tion, are hereby assigned and shat, be paid to Leader.
<br />In ~ event of a total takicgaf the P-r,perty, the praceixi- shat Ire appiirvd to the sung secured by this \Iart-
<br />gage, with the a=txss, if any, paid to Borrax-er. Iv the crept of a partial taking of the Property, unless Borrower
<br />cad Lender' otherwise agree in writing, there sbsll be applied to the suers secured by t!tis \Iartgage .ueh prapor-
<br />S;Eton of the proceeds a is equal w that pmporiion which fire smaunt of the sums secu.+•ed be this Mortgage imme-
<br />diately prior to tiff date of taking besr to cite #air market rains ai the Yrapem• immedia*_eiy prier to the date of
<br />talong, with ia~ balancx of the groeeeds paid to Borrower-
<br />If the Property is aliandornd be riariower or i# sfter notice };}• Lender to Borrower that the condemnor offers
<br />to make aH sward or settle a ^.lainx tar damages, Borrower fart- to cos}road to Lender within 30 days of the date
<br />of such Holies, Lender is autlrtniaed to collect and apply Lire proceeds sx Ixnder'~ option either- to restoration or
<br />ra~ir of fire Property or to the soma secured by this Mattgage.
<br />Unite Leader a~ Barrower othern-ise agree in writing, any such application of proceeds to principal steal!
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