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If ender paragraph 18 hereot the Property- is sold ur the Property is othera~iwe sec}uimd by fender, Lender
<br />shall apply, no later 'than itnmediateh• prior to the sale of the Properfp' or it-< ac!}uisitior, by Lender. ;utv Funds
<br />held by l,enaler at the time of application as a credit. against the ;ume =ccured !;p ihi~ Alortgrge.
<br />3. Application of Payments. Unless applicable lair Itroviaes otherwise, all payments receive,.l by Lender
<br />under the Nate and paragraphs I antl 2 hereof shall he applied by Lender tie=t in laaytnert. of amount:; payable to
<br />Lender by Borrower under paragraph 2 hereof, then to interest payable mt the 3'ute and an Futum Ach~ances, if
<br />any, and than fo t-he principal of the emote and to tltc principal of Future ~rlvances, if ant.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments and oilier charges, fines and impositions attrib-
<br />® utable to the Property :which may attain a priority over this \lortgagc, and ground rents, it 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 shall promptly furnish to Lender all notices of amounts due under this paragraph,
<br />:,t`g and in the event Borrower shall make payment directly, Borrower shall promptly Tarnish to Lender receipts evi-
<br />© denting sueh payment-s. Borrower shall promptly discharge anS- lien which has priority over this Mortgage; pro-
<br />vided, tha, Borrower shall not be required to discharge any such lien so long as Borrower shall agree in writing to
<br />E the payment of the obligation secured by such lien in a manner acceptable to Lender, or shall in good faith contest
<br />( such lien by, or defend enforcement of such lien ir., legal proceedings w•hicl: operate to prevent the enforcement of
<br />~ the lien or forfeiture of the Property m• any part thereof.
<br />n 5. Hazard Insurance. Borrower shall keep ti:e intnroventents now existing or hereafter erected on the Prop-
<br />erty insured against loss by fire, hazards included witirit; the term "extended toveraga", and sucl: other hazards as
<br />Lender may require and in such amounts acrd for such periods as Lender may require: provided, that Lender shalt
<br />not require that the amount of sueh coverage exceed that amount of coverage required to pay the sums secured'by
<br />this Mortgage.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender;
<br />provided, that such approval shall not be unreasonably :r•ithheld. All premiums on insurance policies shall be paid
<br />at Lender's option in the manner provided under paragraph 2 hereof or by Borrower making payment, when due,
<br />directly to the insurance carrier.
<br />In the event any policy is not renewed on or before ten days of its expiration, the Lender, to protect
<br />its interes#, may procure insurance on the improvements, pay the premiums and such. sum shall beta =;e
<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 ternxs of this Mortgage.
<br />All insurance policies and renewals thereof shall be in torn acceptable to Lender and shall include a standard
<br />t,,.,rtT,~_g.~ .•t,~,a,P _ _ raver of , nd in form actep~able to Le*~dn I,es:d~ shall 1, .. cite right t^ (told .h, pa14 _ .,=n<l
<br />renewals thereof •and Borrower shall promptly furnish to Lender ell„rcnewalNnotices 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 />msy make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing. insur•?trwe praceeds shall he applied to restoration or
<br />repair of the Property damaged, provided sueh restoration or repair is economically tcasible and ilia security of
<br />this Mortgage is not thereby impaired. If such restoration or repair is not economically feasible or if tits s~turity
<br />of this Mortgage would be impaired, the insurance proceeds shall ht appfitd io the sum; stcureti by this Aortgage,
<br />with the excess, if any ,paid to Borrower. If the Proper*_y is abaruloned by Borrower c,..f Borrower fails to respond
<br />to Lender within 30 days after notice by Lender to Borrower that the insurance carrier offers to settle a claim for
<br />insurance benefits, Lender is authorized to collect and apply the iusur:xnce proceeds at Lender's option either to
<br />restoration or repair of the Propert}• or to the sums secured be this \lortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application ui proceeds to principal shall
<br />not extend or postpone the que date of the monthly installments referred to in paragraphs 1 and 2 hereof nr change
<br />the atnauni of sueh installments.
<br />If under paragraph IS hereof the Yrnpert}° is acquired ray Lender, all right, title and interest of Barruw•er in
<br />and to arty hrzsurance pahcies and in sort to rho proceeds *,l:ereuf tto the extent of 21u= <uurs securcai t;v this Marty
<br />gag® immc-disiely I~irior tv riueh sa{r• or acc}uisitionl msu!ting from damagt~ to thu Propcirty prior to the sale or
<br />acquisition shall pas<: to Ls~nder.
<br />g. Preservation and R+Iaintenaace of Property: Leaseholds: Coadaminiums. Itarrawer sltslt keep ttte Pre=>-
<br />trty in good repair and shat; not perrrtit or commit waste. iml?airnrent• or dea•rioratiun of the Yro_}terry and shall
<br />cv xply kilt the pro•; is.ars of leas:°, i..:.~,~ ::sortgsge :s u;t x !:~asehnlti. If this ortgage is oet a enndntriniurrt
<br />unit, isorrowe sltstl rerfo:.n ai; nP i3nrrnwc s obligtr ,ry :;rxier ti:c dt,~arat±un of condominium ar master deed,
<br />the by-law, and reguiationa of t!te cnudominium pruiect anti oonstitueut docurnentw.
<br />?. Protection of Lender'3 Security. Ii Borrower tnil.~ to pcriunn the covenants anti agreements contained in
<br />this 1lnrtgage, nr it any action or proceeding is rctmu:cnced c:4:ich :uaterialh- atl•ects Lender's interest in the Prop-
<br />erty, including, but not tintite,i tn. eminent ~ionrxiu, tusohency, cckir cnforcentent, ur arrcwgentents or proceed-
<br />ings involving :~ bankrupt ar decedent, then Lender at Leuder•s option, upon notice to Borrower, may tuakc antic
<br />appearances, disburse such autos and take such action as :~ necessary to protect l~endet•a int.erest, including, but
<br />not hmiterl t.c, disbursement nt reasar,abl;-• a#toruey', ; - . acrd entry upon tht Yrnperty to niaitu eep~rs. Anti
<br />arrrnut+ts disbttr~c~tl by Lander pursuant to chi. paragraph :.::•ith interest thereon, shall hecamr: addieional indcbt-
<br />edness of I3arrower secured by this Mortgage. Unless Borrower and {.ender agree io other ternxs .,f paytneni, such
<br />amounts steal! be pryable upon notice tram Lender to Borrower requesting payment thereni, and shall bear inter-
<br />est from thv date of disbursement at the rate skated in the Nate unless lxayrrtrnt of intemsi at such rate would be
<br />oontrary to applicable la:v, in which e:°ent such remounts shall bear interest at the higixtst rata pennissible by
<br />applicable law. ~othirig captained in this paragraph 'shall require Lender to incur any expense or do any act
<br />herzunder.
<br />8. Inspectioa. Lender inav make or cause to he made reasonable ontries upon sod inspectinne of the Prop-
<br />arf~= ~•:i~l~-~! fit; t 3-;=nd~r =1;uli -~ BUri".i n`ti . ,a a.t rir i ,t,i1- .ra. c rir cizar r iti=ti it
<br />- a> i`r.,. giv. .- , . .:~ : i }`tog rt.~,nna'x eattsc
<br />t ten=~$or rcl.°3Led Lo Lertdrr'a intcr~si in the irnperty .
<br />3. Condeausatioa, The proceeds of any aee•ard nr claim Par damages, direct nr consequential, in connection
<br />with atxY tondetnnation or other kakiag at ilia Yr•aperty, or part thereo€, ar ter conveyane•e in lieu of condemna-
<br />tion, are hereby assigned and shat! be paid to Lender.
<br />In the: event of a total taking of the Property, tiu~ }unece-ds shall he applied Co the stuns secured by this Mort-
<br />gage, with the excess, if any, paid to Borrower. In the event of a partial taking of the Yropertp, unless Borrower
<br />and Lander otherwise agreetn writing, there shall be applied to the aunts secured by this Mortgage such propor-
<br />tine of the praceeds as is equal w thai prapnrt.ion which the amount of the sums secured by this Mortgage imme-
<br />diately prior to the date of taking bears to the fair market value of the Yrnperty immediately prior to the date of
<br />taking, with the balance of the praceeds paid to Borrower.
<br />If the Property is abandoned by Borrower or if after notice by Lender to Borrower that. the tondenuror offers
<br />to make an award ar settle a claim for danxages, Harrower fails to respond to Lender within 30 days of the date
<br />of such notice, Lender is authorized ttt collect. and apply the proceed: at Lender', option either to restoration or
<br />repair of the Property or to the sums secured by this \lortgage.
<br />Unless Lerxder atxd Borrower otherwise agree in writing, any sorb application of praceeds to principal shall
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