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it under parargraph 18 hereof the ProperTV is spld or the F'reperty is ethers€i~e aognir€~d is~- Le~ndea~; Leader
<br />shca aIf!pi}'- re~o la~t~er than irr+mediatety prior to the Sark of thr Pra,~erty ar its acquis5tion by Lender. ;+rsy Funds
<br />he}d by Lend-air ats the tune of spplicarion as a credit agair+;,t the surn~ ~ecurerl 1>r thir ]f,ortg,2rge.
<br />3. Application at Payments. Unless applicable (aws provSdes othersvisc, all pa;}•ment:9 received by Lendee
<br />~ under the Grote and paragraphs 1 and 2 hereof shall l~,c aP9}lied by I,endcr first in }Iaymant of anrrrun[s pany¢~€ble to
<br />Lender by Borrower under paragraph 2 hereof, then to inicrest payable on the \ote and an Future Advances, ii
<br />any, and then to s}te principal of the Note and to the principal of Future Advances, if any.
<br />4, Charges; Liens. Borrower shall pay all taxes; assessments and other charges, fines and impositions attrib-
<br />ut;able to the Property which may attain a priority Dyer this ~4ort.gage, and gromtd rents, if any, at Lender's
<br />option in the manner provided under paragraph i hereof or by Borrower making }rayrnent, when due, directly to
<br />the payee thereof. Borrower shall promptly furnish to Lender ail notices of amounts due ender this paragraph,
<br />~ and in the event Borrower shall make payment. directly, Borrower shall promptly furnish to Lender receipts evi-
<br />~ dencing such psymenis. Borrower shall promptly discharge env lien which has priority aver this \Iartgage; pro-
<br />vided, that rorrower shall nof. be required to discharge any such lien so long as Bormwer :.hall agree in writing to
<br />the payment of the obligation secured by such lien in a manner aecept.361e to Lender. or shall in good faith contest
<br />such lien by, or defend enforcement of such lien in, regal proceedings which operate to prevent the enforcement of
<br />the Lien or torfeiture or' the Property or any part thereof.
<br />5, ;i•Iazard Insurance. Borrower shsli keep the improvements now• existing or hereafter erected on the Prop-
<br />erty insured against loss by fire, hazards included svithir. the term "extended coverage". and such other hazards as
<br />Lender may require and in such amounts and for such periods as Lender pray require; provided, that bender shall
<br />' not require that the amount of such coverage exceed that amount of coverage required to pay the sums secured'by
<br />this \Qortgage.
<br />The insurance carrier l,roviding the insurance shall be chosen by Borrower subject to approval by Lender;
<br />provided, that such npprovsi shad not be unressonably withheld. A!i premiums an insurance poiicicx shall be paid
<br />at Lender's option in the manner provided under paragenph 3 hereof m• by Borrower making pnyruent, when tine,
<br />directly to the insurance carrier.
<br />In the event any policy is not renewed on or be#ore ten days of its expiration, the Lender, to protect
<br />its interest, may pmcure insurance an the improvements, pay the premiums and such sum shall becar~re
<br />immediately due and }sayable with interest at the rate set forth in said note anti! paid and shall be
<br />secured by this '<Tottgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br />under the terms of this A•fortgage.
<br />All insurance policies snci reuew•als thereof s}rsl! he in !sent acceptahlc to I,rudcr and shall include a standard
<br />u,vi oga - `.I`. ,,= ..i f°, ~f n,.., F•• ., a~ Yt,t°t.I~ [ar.ti~. 1 , ~ du a;all hn•~ the uht. tr. Ir~ld th_~ fell.. -nd
<br />rarrawaln thereof, ancilBorrow•er hall~prompth tutnislu to Ixnder ail~renewalMnotices+and all receipts of paid pre-
<br />miums. In the event. of loss, Borrower shall glee pmutpt notice to the insuramce carrier and Lender, and Lender
<br />may rnakc pmot of toss iF eat made prompth• by Barrow•cr.
<br />Unless Lender and Borrower otherwise sgrec ir, writing. insurance proceeds shall b€r applied to restoration ar
<br />repair of fhe Property dsmxge<i, provided such restoration or repair is economic;rih- fensib}e and the secvrit}• of
<br />this Mortgage is not *.hereby impaired. It such resttrratton or mpair act ecunomica}h' feasible or if the security
<br />of this lfortgage would be impaired, the insurarce lroceeds shalt be applied to the sums secured by this 113ortgage,
<br />with the axeess, if any, paid to Borrower. If the YropeTKy i5 abandoned by Borrower or it Borrower faits to respond
<br />to Lender within 3t) days altar notice by Lender to Bormwer that t}rc insurance carrier ot'ie-rs to settle a claim for
<br />rnsurancc benefits Le^.der is suihorized to cel}ect snci apply the msoratrr€• pr€xeeds at Lender's option wither to
<br />restgration or repair of the Property or to the sums secured by tl+is ~longage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall
<br />not extend or postpone the due lake of the monthh• installments referred to in paragraphs i and 2 hereto[ ar change
<br />the amount of such installments.
<br />If under paragraph 1$ hereof the Property is acqurred br° Fxnder, ail ri~+ht, title and interest of Borrower in
<br />and to any insurance }tobcies and to surf to the pr€xeeds [lrr-rcaf tta [h€• extrrrt of ttt€ sums secured by ttris ~tart-
<br />gaga ire:tsrdixtely prior to such sale or srquisitioni reulting front damagۥ to the Property prior to the sale or
<br />ac-<,t,,s;Aititrz ri brit paw ~u =~d~ r.
<br />a. P'=~as,~aw~.;r ~,t~ a; P;~:tx: ?,>°_hclda; C~ae3>:nu:;it~s. Ilarrew•€r vise:: k~$es the Ya~rp-
<br />e3~y i:t ~ ,- ` repair slid _hall ;rot .rcrtnit +?; crlt4rtrrit waste; i.vpsi.*mrrrt• or .+etrriuraticu of Is:a Yro;:°rty snci ahgl
<br />-a .,,.., ... ~ ,f,
<br />,.ot.i=;;~ :.,~., ,,,e p...._ _ _ - - - -._rlre ~ -and~;~airi~r
<br />.,.}.s *r.-.F..._.~cg ~!; r! _ _ -F:: ~Ii '_'f ~-2' rr~as~~r'_ s i lt~xt~ ~_t-• ~ -:- •1r S- ~st ,_ 1 ~ s4e +~-~ rzt~et~s~ c~~3:
<br />the by-laws slid rrgU~iatrOns of the COrrdamllnnID IrtU]eel and t'QlltitltU€;Ut dievti+en{5.
<br />7. PratacGoxs of Lander'a Seeuriry. If Barrawer fails to }+erForttt [he covcnsnts and at;r~ments eontaznad iu
<br />this llortge; ur it any action ar proceeding is commenced which utnTerially affects Lender's itttereat in the Prop-
<br />atty, including, but not limited to; ominanc doruain, inrolsency, talc cnfarceTrrent. ur atnrrrgements or pmueed-
<br />inga involving as bankrupt ur decedent, then Lender at Lcndrr•s option, upon notice t€: Borrower. may rusks such
<br />appearances, disburse such sums sad take sarli actiar. as is necessary to prated Lender`s internat. including, but
<br />nqt limited tv, drsburaernent of reasonable attorney's lees sad entn• neon the I'ro}arrty to rnakc rapaire. Any
<br />aarounts diabur~d by Lender pursuant to this paragraph ~, wah interest thereon, shad i~c;,ame additT«-seal inde6t-
<br />~ectna.=.a of Barrawer secured i,y thin 1Svrtgage. Unirss f3orrawr:r rnri I,€+nder agree to other tertr, of }>av-+e,ruz, Kush
<br />amounts shrill he payable upon notice !rant Lrnder ro i3arroaer requesting payment thareof, and sirs}l Dear mter-
<br />ant !corn tl+e date of diairuraemeni rrt the rate atakad in the ~otv unless payment of interest at such rate would try
<br />cmrtra,; to applicable law, ir: wirieh €rvrnt xuclr arnuunts shall bear iuterest at the trigheat rate parmisaihtc by
<br />applicaGlc law. ~otit;ng coniurrcd ua this paeagrafrEt 2 ><bati require Lct+dcr to incur env ><xpenar or do any out
<br />haraunder.
<br />8. Irrrpfctian, Lender nrav make or €•ausr to be reads e€•a:+nuabte entries upon an€i impactions of the Prap-
<br />arty, provided that [>vndrt shall give Borrow-rt notirtr prier to xn~• such iualeertion s}treifyin}; rc~a~nabtr cause
<br />thorafor relate€i t.a lender's interest in rise Property.
<br />g. G~,dsrt=.~s. `f'ire F.r~rrd:, aE anY award nr alaitn frr ,nrag;,a, clirtt ar :onRacluar*,ial, ire eor:::t~tiar,
<br />wittr any coudeaunatigrr or ether taking of the Yrolrcrty, nr par•T ThenoI, ar ftrr cunveyancc in lieu of rr?ndemaa-
<br />tign, era har+eby assigned and shall lac paid to Lender.
<br />in the aaenG aC a total taking tat the Yraperty, the }rrixce€is shall be applied to the auras se€•unrd by this i-Iart-
<br />ga~e, with the axc~i~ ~, paler to Bgrmwet. lit the avctrt of a partial taking; of th€• 1'rirtx•rty. ranlea>3 Borrower
<br />and Lrnder atdretwise agr~ in writing, tlrtrre shall b€ aIr}rli~t to the saran a~crurc'ct }= ~ thin Li+irtgag€i ~ueh pr•ulztir-
<br />tioa c>f the proceeds as is equal to t'cat proportion which the amount of the sores srcueacf by this Mortgage imure-
<br />' diatety prior to the data of taking hears to i.he fair market. value of the Property iumr€kliateh• prior to tlu data of
<br />taking, with the balance of the praceacis paid tp Bormwer•.
<br />Ii tlrp Property- ir; abandgned by $t>rrgwer or if after rrgtise by Lrnder to Bormwer that the conderunor offers
<br />to make an award ar settle a claim for datt7agea, llgrrower fails to reapand to [.ender within 3G clays at Ghe date
<br />of such notice, Lender iz3 authorised lti collect and apply the proeeads at Leader`s caption citlrer to eestaratien or
<br />repair of the Yraperty ar to the sums secured by this Mortgage.
<br />ilnlii~ I,errdFr and Borrgwar 5l`nei~viae a is wriling, any such appiieatign of proceed=? to princi}+ai shall
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