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If under paragraph 1& hereof the Yropertti• is sot;9 or rhr Property is otherwisu~ acquired by Lender. Lender
<br />=halt apply, na lrcter• olatl 4mmediately prior to the sate of the I'rophrt}• or its acgttisitiort by bender, xnv I•tmfts
<br />held by L~ndcr at tl'zc time of application as a crctlit r:gninst tht~;~ sr,uus sorrured 1,~~~ zili_~ Mortgage.
<br />~..~pplir:ation of Pa~rments. Unless applirratbl{~ late providt~^s at}lf~~s~r~aiee, a1; }^~>ay,nG.nts _ece:~iver.I fry Lendeu~
<br />under tkze Note and paragrrtplts 1 and 2 hereof ;hall ~n• .yzplia~d f,}- Lrndc~l first. in l;rcyrneni of amoalnts }}ag~able to
<br />Lender by Borrower under paragraph 2 hercef, then to interest payable orl the ATOfe and nn Future Advances, if
<br />any, and then to :Se principal of tltc Note and to the principal of Future Advances. if any.
<br />4. Charges; Liens. Borrower shall pad- all taxes, assessments and other charges, fines and impositions attrib-
<br />utable to the Property which may attain a priority over this .Mortgage, and ground rents. if any, st bender's
<br />option in the maruzer provided under paragraph 2 hereof or by Borrower makinri payment; when due, directly to
<br />the payee thereof. Borrower shall promptly furnish to Lender all notices of mlzaunts due under this paragraph,
<br />and in the event Borrower shall make payment. directly, Borrower shall promptly furnish to Lender receipts evi-
<br />denstng such payments. Borrower shall pramptly discharge as}~ ]test which has priority over this 3ortgage; pro-
<br />vided, Chat Forrower shall not be required to discharge any such lien so long as Borrower shell agree in writing to
<br />the payment of the obligation secured by such lien in :f manner acceptable to bender, or shell in good faith contest
<br />such lien by, ez defend enforcement of such lien in, legs] proceedings ,chich operate Co prevent the enforcement of
<br />the lien or forfeiture of the Property or any part t hereai.
<br />5. Hazard Insurance. Bon•uwer shall keep the itnprovernents now existing or hereafter erected on the Prop-
<br />erty inst:red against loss by fire; hazsrds included within the term "extended coverage", and such other lzasards as
<br />~ Lender ]nay require and in such umorn.ts and for such periods as Lender may require; providati, that bender shall
<br />` not require that the amount of such coverage. exceed that amount of coverage required to pat- the sums secured'by
<br />this I4lortgage.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subiect to approval by Lender;
<br />provided, that such approval shall not be. uur•easonably withheld. all premiums on insurance policies shalt be paid
<br />at bender`s option in the manner provided under p:uagraph 2 hereof or b}• Borrower making parnxent. 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 becc'„=`
<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 Rortgage.
<br />All insursnec policies and renewals thereof sl,:Jl be in form acceptable to Lei.,icr Auld sltsfl include a standard
<br />tnC3rtgn~e f~lauce in lacer Cif anrf in fQrtll _ree€,llt _ihli. rfl 1 ender. I.endeC ~Ilall Illt t•.• ri?n slat,{ to llnl,~ the „nlt;'te€ anti
<br />renewals fhereaf, and Borrower snail promptly furnish to Lender all renewal notice, and all receipts ai paid pre-
<br />miums. In the event of lass, }3orrower shall glee prompt notice to the insurance currier and bender, end bender
<br />may make proof of loss i{ eat made proruptdy by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurrau•e proceeds ,hall be appliedta restoration or
<br />repair of the Property damaged. providers sorb restoration ur nyurir is _counmualh- fcusihle and the security of
<br />this 1ortgage is not thereby iutpsired. Ii sucle ri'star:ltiou ar repau• is nut rc€nl~mif:4lh' feasible ar ff the sectrity
<br />of this Aortgage would be iulpaired. the iusursnce proceed; shaft he applied to thf• sum> secured by this Mortgage,
<br />with flee excess, if tiny, paid to Borrower. If the Ptoperty is af?sndune{! by Bor:•otvc-: or ii Borrower fails to respond
<br />to Lender within 3tl days after native by Lender to Harrower that the insursnec carrier ofTers to settle a claim for
<br />insurance benefits, Lender is authorised io collect anti apply the insurance proceeds at Lenders option either to
<br />restoration or repair of the Property or to the sum, secured be this Mortgage.
<br />Unless Lender anti Harrower otherwise agree in n•riting. au}• sorb ai;ltlic:uian of pmcrnis to principal shall
<br />not extend or postpone the due date of the monihh• installment. reterred to in paragraphs 1 and ° tlercwi or change
<br />dlr ~ottnt of such installments.
<br />ii under paru~rapit ;o iz:racf t: r .':•~r-ri;' :, __~ -.c>t hc~ i.endcr.:tll sit=ht. title and iretirest of Borrower in
<br />and to any insurance policies ect.d in acd to ozc proceed. o.crcof tto the cstent of the >unr. secured b}' this Mort-
<br />gage uurrzediataly prior to suet: sale or arquisitiou~ resulting tent], duru,ige tt, the Property prior to t-he gale ar
<br />stequisition shall Ixass fa Leru:ee.
<br />g, preservation and Irlaiatenance of Prryp~srty: Leaseholds: Candeminium~ Ito; rower shalt keelz the Prop=
<br />erty in good repair and shall not permit or com:uir waste, iuliu~irtucat, or detcrioratiau of the Property and shall
<br />conzpiy x'itiz cite brat tstcns of my i€is€, . th iiarigsge t~ one t t riaat. I ~~t< tf 3st};<.i;i~ ,: on ;3 ronfiominiutri
<br />uni>, Bo.•rowar shall pee•:ottla sit of ttorrocvcr'. ohtigutiuti. un,ler the deeilt ttiota of caudonritliunl or master fte~a~,
<br />the by-laws and regulations of the condontinnun praject and constiuteut documents,
<br />7. protectign oI Lender's Security. It Borrower tail, to periurtn the covrnautts anti agrf•emeuts contained in
<br />this \turtgage, or if cue action or proceeding is ronunc'nccd winch matoriall} tttl'ccts Lender's interest in t-he Prop-
<br />erty, ins:hrding, but nut limited ta, eminent domtun, uzsoh~eney, nude enQucenu•nt, or :urat+genzents ar proceefl-
<br />ings invalviog a bankrtaot ur decedent, then Leader at Lender's option. upon notirc to Ilitrrawer, may uwke such
<br />appeslrances, dishluse such sows and take such :iccian us is necessar} to pcoh~ct Leader'; mtere5t. including, but
<br />not limited ta, disbursenz:rnt ai reasana6le attorue}-', fees ;ctifi celtry upon tht< Propert,° t€a ]]lake rupars.:cny
<br />amounts disbursed by Lender pursuant to this pacragrailh ~, t~ith interest tht.reon, shalt bccam€° sdfiitionai indebt-
<br />ednesa of Borrower secured by thisltartkage. IJnless Borrower and Lender agree to other term. of pavme=ni, such
<br />amounts shell be payable upon notice from Leader to Borrower rcyucstinp; payment t6creot•, :nr1 s!m!i !:car inter-
<br />est from the dale of disbursement at the rate statefl in the tote unless payment at iucerest at such care wauld he
<br />contrary to applicable law, in which rvant such amounts shall bear interest :u the highest race perrnissibie by
<br />applicable inw. looting oonalined in this pttragrsph 7 shall reauu•e Lender to incur any expense or do any act
<br />hereunder.
<br />d B. Insp®stion. Lender ulay make ar c:utse to be lnadc reasouahlc entries ltpon anti inspections of the Prop-
<br />v3 ir, }sae ,v:ia alien ~. ...-.:},; Ire tia~ritia 1. .tom. ,.i }'i-t t!r .i -t.1Y .tit.. iris}i(' Lt1i;1 ei si'i'itit :t, fF-'r{`t[t:{[i{f' rc`it3e
<br />L(YBTfliUr z'f',lilt~t'•d t€7 I:eader's znt~erzst In the PTG pert\'.
<br />3. Condemnation. Tice proceeds of eut}• .ttvt,rct ue f°lainl for d:uuages, direct ur consequential, in eonncetinn
<br />with any condentnatian ar other taking of the Property, ur part rht•rcaof. m for coltrccance in {left of ruudc•rrula-
<br />tion, tyre hereby assigned and shall be paid to Lender.
<br />In the event. of a total ticking of the Praprrty, Che pracce.ir shall Itc applied to the soma secured by this \lort-
<br />gage, whir the. excess, if any, paid to Borrower. In the el•ent of a partinl taking of the Property, unless Borretwer
<br />and I:onder otherwise agree in writing, there shalt be aplilied to ore sums secured he chi: ~turtgage such propor-
<br />tion of the proceeds as is equal to th .t proportion lahiett the amount at the sums secured by thin 1ortgage imme-
<br />diately prior to the date of taking bears to the fair market valor of the Yro}xtrty inzuu•diazeh lu for to the date of
<br />taking, with the 6alaaoe ui the proceefs paid to 13arrow•er.
<br />If ehe Prapetty is abandoned by Borrower or if after nonce by Lender to Borrawer that [he eondeumor offers
<br />to make err award or Bettie a claim for damages, Borrower tails to r€:apond to I.endce within 30 days of file date'
<br />of such notice, Lender is attthari~ecl to collect and a}spl~• the proreitii- at Lendet's opnun either to restoration or
<br />repair of the Property nr try the sums secured by t-his \lartguge.
<br />tln!eas I .tinder ::r:tt I{ort:awer utl.erw;se agree i.; writing, s,ly ;nett app;iciit.ifiu of }irocecds to },rinclprel shzrii
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