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If under paragraph 18 hereof the Property is sold or Hie Property is otherwise acquired b}, Lender, LencLer
<br />shall apply; no later tllau immediately L)riar to tiu,~ sale; of the Yropertp or it> aequisitian k;y Lender, any Funds
<br />bald by Lender at the time o£ application as a emdit atgainat the rmna -ccured }n- this 11art,gag~e.
<br />3. ~ppLicatian of I?aytnents. Unless applicable fair provicics otherwise, all payrrent.s received by Lender
<br />°~r° under the ti'ot:e and paragraphs 1 and 2 hereof shall be applied by Lender first- in paymeni of amounts payable to
<br />Lender by Borrower under paragraph 2 hereof, then to interest payablr an the Tote and ar. Future Advances, if
<br />any, and then to the principal of the Rote snd to the principal of Futurr_ 3dvanees, if any.
<br />d. Charges; Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attrib-
<br />arable to the Property which may attain a priority over this \torigage, and ground rents, if any, at Lender's
<br />option in the manner provided under paragraph '2 hereof or by Borrower making payment, when due, directly to
<br />the payee thereof. Borrower snail promptly furnish to Lender alI notices of anraun±s due under this paragraph,
<br />snd in the event Borrower shall make payment directly, Burrutver shall l)ramptly €urrtislt to Lender receipts evi-
<br />~ denting such payments. Borrower shall promptly discharge :ray Nett which has priority aver 'this 3tartgage; pro-
<br />' vided, that Borrower shall not be required to discharge any such lien so long as Borrower shat! agree in writing to
<br />the payment of the obligation secured by such lien in ;t manner acceptable to I ender. or shall in good faith contest
<br />such hen bs-, or de€snd enforcement. of such lien in, legal proceedings which operate to prevent the enforcement of
<br />the hen or forfeiture of the Propert}• or any part thereof.
<br />5. Haasrd Insurance. Borrower shall keep the improvements ^otc existing or hereafter erected on the Prop-
<br />erty insured against loss by fire, hazards included wit?tin the term "extended coverage", ;md such other hazards as
<br />Lender may require anti in such amounts and for such periods as Lender may require: provided, that Lender shall
<br />not require flint. the amount. of such coverage exceed that :unomtt of coverage. required i.o pay the amps secured by
<br />this '.Mortgage.
<br />Ttrn ;. ..ante carrier providing iho iosurance shall be chosen by Borrower subject to approval by Lender;
<br />provided, that such approval shall nut be unressanably withheld. All premiums on insurance policies shall be paid
<br />at Lender's option in the manner }provided under paragraph 2 hereof or by Barrotver making payment, when due,
<br />directly to the insurance carrier.
<br />In the event any pokey is not renewed on or before ten days of its expiration, the Lender, to protect
<br />iks interi t, may procure insurance on the improvements, pay the premiums and such sum shall be~cme
<br />immediately due and payable with interest at the rate set forth in said note until paid and shall be
<br />secured by this Mortgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br />under the terms of this Mortgage.
<br />All insurance {.rohcie anti renewal: thereof anal! be in form acceptable to Lender and shall include a standard
<br />nrartgage i•it;tl-e in fa~ar al snd in form :lice})taltk to Lender. I.encier shalt hac-e the right to hol+i the }ralicies and
<br />renewals thereof, and Borrower shall promptly furnish to Lender alt renewal polices and all receipts of paid pre-
<br />miums. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender, and Lender
<br />may make proof of loss if not made promptly 'uy $orruwer.
<br />Unless Lender and Harrower otltertvise agree in writing, insurance Ixoceeds shall be applied to restoration or
<br />repair of the Property damagtd, provided such restoration ot• repair is economically feasible snd the eecurit}' of
<br />this Alot•tgage is not. thereby impaired. If such restoration m• repair is trvt economically feasible or if the security
<br />of this Jiartgage would be unpaired, the instuance proceeds shall 1)e spl.tlied to the aunts secured by this :Aortgage,
<br />with the excess, if any, paid to Borrower. It the Property is abandoned by Borrower or it" Barrow•er faits to respond
<br />to bender within 30 days after notice by Lender to Borrower that the utsurance carrier offers to settle a ctnim for
<br />insurance benefits, Lender is authorized to collect anti apply the insurance proceeds tit Lender's option sinter to
<br />restoration or repair of the Property or to the stone secured b} this \lortgsge.
<br />Unless Icuder and Borrower otltenvise agree in writing, anv such application of prnce~ts t~ ptrineipvel shall
<br />not extend or postpone the due date of the monthly urstathuents referred to in paragraphs I and 2 hereof or change
<br />th4 :.mount of su~lt insalTments.
<br />r€ un~?e. ~,.nh Ig hA,~uf th.~ Prup~~., i` ac ;aired by t ~nder.:til right; title and int~*est ^_s Harrower in
<br />paF;g.~r.. -
<br />affd to any utsuranee palieic~ snd in anal to tfte prexe~ls thereof fro the extent of the sums serm'e~l by this !€ort-
<br />gage imurc~Iiacely pt•iw• to such sale or srquisitionl resulting leant dsntage to the Property prior to the sale ar
<br />csei,{uig-iticn shall pass t~ L~n.icr-
<br />1^ ¢~-~ =on d ~~t~~~~ ~ °rr~r'y ~°sa~halda== Y~dor~=tom, u~,rr.?n=- _I_z'1 kip •Itr Izr~r-
<br />erty u, trood rcr)atr alts shall not permit or calmnit t+:tstC, inlpsirn)ent, or dell^riuratlolt of the Property and shall
<br />cotnpiy with the prayisons ai arty easi~, ii thi- :«arigagt• t~ un a ~t aac hold if this Mortgage i+ art a cvnditminium
<br />unit, t3^rra:yer alt..!! ,.i..ortn afi ~t Barrow•.r°. .~Irli~atr3..: ....+.ii. ?it_ 7__lar~tus.rt L•t tit.t.totnittitzn, ar n-:asir<r +1~i3,
<br />ttre by-laws and regulation, of the condominlnm projec[ and cursttuaatnt ductlrnunt~.
<br />?. Protection of Lender's Security. It Barrowrr fail. to pertarn) the eua-enants and agreements contained in
<br />this Mortgage, or ii' any action or proceeding is commenced which materially atfeets I.endcr's intetest in the Prap-
<br />et#~y, inchulurg, }rut. not lunitect to, csltinctkt danrntt, uu~aivrrtry, ctxic rnfarceme~nt. ar arrangements or proer~l-
<br />utgs involving a bankrupt ar decedealt, then Lenc#e: at i.ender`s option, upon not ire to Borrower, may make such
<br />appearances, .lisburs+• tacit sums unit take such action u~ ]s nrce~ssury to protect Lender's interest, ureluding, htrt
<br />oat limitad to, diribur~elncne of reasantble attorney`s tin'Fero and cnte}• upon the Property to urakr repairs. Any
<br />antount_a disbursed b}• Lender pursuant to tE:is paragr.np}s :. with irterest thereatt. shall becama additional indebt-
<br />edness of Borrower secured by thi-s ~Iurtgage. I?nlcss Borrower ;old Lender agree to other terms of t+at•ment, such
<br />atrlounta ehpli 6c payable upon ltatice t'ronl Lender to i3urntwer requesting payment dterenf, and sha} hear inter-
<br />ra~G from the dot+; of disbursentuut a6 the cute ~statt~t ur the Aote unless puynrent ui iutvrest at sui•tt r;tt<~ :curaliP be
<br />contrary to appliealrle la>;•, itt tvhieh event such antatmts shall near innter~st of the highest rat« pe.. .sil)lc° b}•
<br />applicable law. `±othin}; cantsinard in this paragrapl: i shall regmre- l.endr~r to incur any rxpensc itr da any act
<br />htteuuder.
<br />8. Irtapect#on. I.eudt~t uv4}• ))lake ur +•ause tt) its rundc reasontiltly rntrie- appal anti irlslx=ctiolts at' tPte Prolt-
<br />.;vrv _,+,rdea rr . t c'ndE l,fll e- - I4t tr.,u _ t-~r,t.e 's ~iix• rc! - ,tc{, --. _ pf.tit, ,i -€,.-- - ~o.,sl.l=, ~auz.,
<br />t1....-tor r~tate*.d t~ L ettt:ttr i =:terr:~t in the Pro t
<br />9. C~deatian. i'lrc prac~eds of any a+aaeii ctr claim far <Cautage<, tliree•t ur cvasequcntial, in rcuu,eetiun
<br />with any eondrimnation or other ticking of the Pral)eetp, or part thert~of. ur for canvey+tncc ut hen c)f condemna-
<br />tion, are hereL,v trssigned attd shall be paid to Lxndcr.
<br />In the ovc;nt of a total ttxking of the Property, the proceeds shall i,e apptirti t.o the stints secured tty this Mart-
<br />--gage, +eith theext~s, if any, paitl to Borrower. In thr et~rre ai a partial faking of the Prol=ere}°, ttnlc~ts $arnrwer
<br />and Fender atlterwiae agree in writing, there shall be applieii to the swrr;, secuted by thi ~IartgnKe such propor-
<br />tion of the proceeds as is equal to drat proportion which the amount of the gums si~eured by t119 Mortgage imme-
<br />diately i)rior to the date of taking bears to the fair market valae of Che Property immediately prior to the date of
<br />taking, with the balance of lire pro¢eNds paid to I3orrawer.
<br />If the Property is al7ancloned try L3arraec°er oe if after notice by L.encier to Borrower Thai the conriemnor ot`t`ers
<br />to make air award or settle a claim for damages, Borrower €ails to respond to Lentler within 30 days of the date
<br />of such rtatiee, bender is autltorixecl to t-ofleet and apply the prooeeds at Lender's ogttion cikhe:r tc restoration or
<br />repair of the Property or to the sums seruted bt this \Iortgege.
<br />Llnl~*?s I,,nde_r and BCtrrLtWer otkora+•isa agree ic, evri~n;, arry suol, appiicatiort of preseeds to ,eriu^ipal shall
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