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If under paragraph 78 hereof the Property is ~ Id cu~ rht~., F'rolterte is, athertnre arrgmred by bender, Lender
<br />~r~Pialt apl~tly, no later than immediately prior to the s~rlc of rhr I'ropclty iu• it er.gtlisitiau 6y Lender.:iny F'uncl:;
<br />}'reld be I,enrie~r ai; the time of a}tplication as .n rrt,°dla !tgainodt the sums ;scorer! lr~~ tale ~Iorigage.
<br />9. ,dkggGcatian of Payments. Ltrtlc~ 1-Illtlicalalt~ lore ptovtde~ others Iwc, all payment. receteeci by I,.ender
<br />tander'thr~s Note and Irnragraphs I and'2 l~rcrtof s81a11 he aprltlitri trV Lcndtr hest In payment at antaunts payslble to
<br />T.,e~nder by Borrower under paragraph 'Z hereof. tkleut to fate=rest ltayabh• on the A'ote and on F"uture ~}<Ivances_, if
<br />any, and t-hen to the principal of the ~otc and to the principal of Future Advances, if anv.
<br />4, Charges; Liens. Borrower shall pa}• all taxes, assessments and other charges, fines and impositions attrih-
<br />utttebie to the Property which tnay attain a lriority over this Mortgage, and ground rents, ii any, at Lender's
<br />option in the manner pravided under ltarsgraph 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 tinder this paragraph,
<br />and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evf-
<br />dencing such payments. Borrower shall promptly discharge any lien which has priority over this Mortgage; pra-
<br />vided, thst Harrower shall not be required to discharge any such lien so long as Borrower shall agree in writing to
<br />the payment of the obligataon secured by such lien iu 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 operate to prevent. the enforcement of
<br />~ the lien or forfeiture of the Property or any hart thereof.
<br />5. Hazard Insurance. Borrower shat! keep the improvements now existing or hereafter erected on the Prop-
<br />erty insured against. loss Ity fire, ltaznrds included within the term `extended coverage", and such other hazards as
<br />Lender :nay require and in such amounts and for such i~eriods as Lender may require: provided, that Lender shall
<br />not require that the amount of such coverage exceed that atnount of coverage required tt; pay the sums secured'by
<br />this .+tor6gage.
<br />The insurance carrier providing the insurance shall ba chosen b}• Borrower subject to approval by Lender;
<br />provided, that such approval shall not be unreasonably withheld. all premiums on insurance policies shall be paid
<br />at Lender's option iu the manner provided under paragraph 2 hereof or by Barrower 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 interest, may procure insurance on the improvements, pay the premiums and such sum shall became
<br />immediately due and payable with interest at the rate set Earth in said note until paid and shah be
<br />secured by this Aortgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br />under the terms of this Mortgage.
<br />911 insurance policies anti renewals thereof shall he in focal acceptable to l.en~icr zmd _=hsll incltldc a starz3attl
<br />mortgage clause in favor of and in form acceptable to Lender. ],ender shall hate the right to hold the policies and
<br />renewals tttereot, and Borrower shsli promptly furnish to Lender all renewal notices and all receipts of psid pre-
<br />miums. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender, and Lender
<br />may make praat ai loss if not made promptly by Borrower.
<br />balers Lender and Borrower otherwise agree in writing, insm:znce proceeds shall he applied to restoration or
<br />repair of the Property damaged, provided such rtauratimt or repair is eeunomically feasible and the security of
<br />this _lortgage is not thereby impaired. Ii such restoration or repair is not economically feasible or if the security
<br />of this Mortgage would be impaired, the insurance proceeds shall he applied to t}le stuns scours,] by this 3ortgage,
<br />with the excess, it anr•, paid to Borrower. If the Property is abandoned h}- Borrower or if Borrower fails to remand
<br />to Lender within 30 days after not-ice by Lender to Borrower that the insurance carrier offers to settle a claim for
<br />insurance benefits, Lender is authorized to collect anti spply tlm insurance proceeds ai Lender's option either to
<br />restoration or repair of the Property or to the runts secured by this Jiortgaga.
<br />unless L ender anti Borrower otherwise agree in writing, any such application of proceeds to principal shall
<br />not exiend or postpone the due date of the utanthiy installments referred io iu paragraphs 1 and ? hereo2 or change
<br />the amount et such installments.
<br />Ii under }taraga°aph Is ltereat the i'raperty is acquired lay Lende!•, all right, title and interest of Eiorm~•er in
<br />and sn}- i :sttrancc 1wll~i~ .rtd Iri ul :~ :lte proceeds titeraaf t tc the eaterlt of the sums aerured ilv tl:i.:clari-
<br />gage :inn?ediately prior to sorb salt• or aequisitiani resniting Tram damage to tht~ Property prior to rite sale or
<br />acquisition shall pas- to Lender.
<br />~ ~ietsurvation and b+ftantoaanee of Progeny: Leaschaldst Condomiaiuma. Barrower shall keep the Prap-
<br />8ku{r' }li gocd rr /lllr :itld +llalf fiat. trer'li"±IE aC t•__,,,r•t~r ~y• *- t. ° nt ¢'ti'PSv. at:iiiE iif i}iE P[vfii°r -y 2ittt~ 51ia13
<br />- I i e 3 1 fir - #
<br />ot. ... e , ~istolts o ... 4~s; , ;: .._ u. s ,s E ~„t - t t
<br />r nnl !h r} irn~ F ., r, 1 ~: i _ +1 :41 r_Y ~. ar.£„3 _ - .-.• -.C^.d#}.n.P,iil a:
<br />unit, Barrawt.r shaill perform sll of Borraeacr, obhgacraus under th- dt I3.~tt:e±~, of want+a ,n,,,,,, .;r ntast~r dam-;,
<br />the by-laws and regulations of zits condontiniutn proe~•t and causutttent dacumeats.
<br />7. Pratedion of Leadei s Security. ti Borrower isils ri perform the covenant. and agrec:rnants contained ir,-
<br />this :tortgage, or it any action or prareetling is c~nnntenceci whirls nlatceialk~~ afl•ects Lender's interest ir. the Yron-
<br />arty, including, but not limited ta, eminent Boman,. ,u.oin-ucy, rude eniareeuumt. or arrangements or proc~ed-
<br />ings involving a bankrupt or decedent. then Lcntier at Leader's option, upon notice to Horntwer, may make such
<br />appearaneea, disburse such Burns and take such action as n ucrr.~sar}• zo protect Lender's interest, ntcluding, but
<br />not limited t.o, disbursement of reasonab[c attorney's fee,. and enrn• upon tht: Property to :Hake eepairs, Any
<br />amounts disbursed by Lender pursuant to this paragraph 7. frith interest thereon, shalt become sdo,`itianai intiebt-
<br />edness of Borrower secured b}• ibis 1lartgage. Unless Borrmvcr and Lender agree to other terms of lrayrnent, such
<br />amounts shall be payable upon notice iron Lender to Borrower requesting payment thereot, and shall bear inter-
<br />sst from the date of disbut-ezuent at the rate stated in the Aote unlev payment of interest at sorb rate would be
<br />contrary to applicable lnw•= in which event such lunou!~.tx shall heap interest at the highest rate peri~issihle by
<br />appliasl;le law. ,lathing captained in ibis parstgrtpil . simii require header to incur any expense or do any act
<br />hereunder.
<br />g. Itageetion. i.ender may make or eauze to hr made reasanshle entries upon and Inspections of the Prop-
<br />erty, pravided ihat Lender shall give Barraw•er nonce t:riitr en gun sn,•h utsttection -liecifrin~ resssonable cause
<br />therefor related to Lender's interest in the Property.
<br />Coader~.ctiea. The proceeds of anv swan{ or el:iirtt for damages. direct or cousequerttiai, in conneetian
<br />tt°itlt atny condemnataou or other taking of the Prapcrty, or part thcrcot, or tar canvepance in Lieu of c~ndemna-
<br />t5an, era hereby asssguad and shall be paid to Lender.
<br />In the scent of a total taking of the Property, the proc•eetls shall 6e upp}icd txs the .oafs secured h}° this 3iort-
<br />guga, with the exeesg, it any, paid to Barmwea•. Iu the scent ai a I,artiat taking of the Property, unless $arrower
<br />-and Land®r otherwise agree in writing, there shall be applied to the soma aerurcYi 6c this ifartKage such propor-
<br />tiort of the proceeds as is equal to that proportion w•llich the amount of the sums secured by tills. Mortgage imme-
<br />diataly prior is the date of taking !nears to the fair market cable of rile Prapcrty immediatch• prior to the date of
<br />taking, with the balance of the praeaeds paid to Barrower.
<br />If the Property is abandoned by Borrower or if after notice by Lender to Borrower that the eondenutor offers
<br />to make an award or settle a alnico far damages; Borrower faits to respond to Lender within 3U clays of the date
<br />of such notice, Lender is authorised to a~olleet and ap}tlv the prnct~cds at Lender'. opeioa either ut restoration or
<br />repair of the Property ar tv the stuns secured 6}• this }Iartgagc.
<br />ITnless Lender and Burrower otherwise agree in writing, anv such application of proceeds to priuci{tat shall
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