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If under taragraph 18 hereaf the Yropcrtc is aolr;! or the I'roprtrty rs ot.lrerwtne acquired by T enrlr_r. Lender
<br />sFtall ap!,tly, no later them itttrtted:ate.ly- priru to the s.nlc of the Proltert}~ or rt~s aegtt:~tt;an by Lc>ndor. any Funds
<br />held by i.ender at the tune of application as a ereciit ur~gainst i he satyrs secure~,rt by this: l~tartgage.
<br />3. Application of P'ayme~nts Lnlcs al+l~ilicalrlt. lan ptotides othcrtatr., all payuents reeett•er,.1 I,tl,r hesrde.r
<br />under the tiot.e and r,raragratrhs I ,uxf ! ltu^tiof shall hr applia~:ri Icy Len:,trt ha•s#. in ln~tiytnent of amounts lt.~ty€s~1~>Is i:~o
<br />Lander ley Bat.awer under paragral~rh l hereof, th+^t't to interest payable on the ATOte and on Future Ads^anees, if
<br />any, and then to the principal of the \ote and to the principal of Future Advances, iI snv.
<br />4, Charges; Liens. Borrower shall pay all taxes, asscsstnents and other charges, fines and impositions attrib-
<br />tttable to the Property which may attain a priority over this Mortgage, and ground rents, it sny, 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 Ihnder all notices of amounts clue under this paragraph,
<br />and in the event Borrawer shall make payntcnt directly, Borrower shall promptly furnish to Lender receipts evi-
<br />dencing a ,ch payments. Borrower shall promptl}• discharge any lien which has priority over this Mortgage; pro-
<br />~ vided, that Borrower shall not bB required to discharge any seen lien so long as I3orrower shall agree in writing to
<br />the payment of the obligation secured by such lien in rr manner acceptable to Lender, or shall in good faith contest
<br />such lien hy, or defend enforcement of such lien in, legal proceedings which operate to present the enforcement of
<br />the lien or forfeiture of the Property or auc parr 1 hereof.
<br />3. Haxazd Insurance. Borrower shall keep fire imprncentents new existing m• hereafter erected on the Prop-
<br />erty insured against loss by fire, hazards included within the term "extended coverage", and such ether hazards as
<br />Lender may require ;end in such atuatntts n,td for such periods as Lender may require: provided, that Lender shall
<br />i net require That the amount. of such coverage exceed tha* amount of coverage required to pay the sums seeured'by
<br />(~1 this Mortgage.
<br />n The insurance Barrier providing the insutaucc snail be chosen by Borrower subject to spproral by Lender;
<br />provided. that such approval shall not. be unreasonably withheld. all premiums on insurance policies she!! be paid
<br />at Lenders option in the manner provided under paragraph 2 hereof or by Borrower making payment, when due,
<br />directly to the insurance carrier.
<br />In ilte 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 be.^ame
<br />immediately due and payable with interest at the rate set forth in said note until paid and shall be
<br />secured b. this Mortgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br />under the ternts of this Mortgage.
<br />Ail ,nsuranre policies and renewals theeeaf .hall be in ionu acceptable to Lender and shall include a standard
<br />mortgage clause in favor of and in form acceptable to Lender. bender shall have thn right. to ltnicl rite par~.i~.- aid
<br />renewals thereof, :uul Borrower shall prompth• furnish to Lender all renewal notice; and all receipts of paid pre-
<br />miums. In the event of loss, Borrower shalt glee prompt notice to the insurance carrier and Lender, and Lender
<br />stay make proof of hiss ii not made promptly by Borrower.
<br />Unless Lender and Harrower othenrisc agree in writing, in.~uranc,. lnoceeds shall be applied to restoration ar
<br />repair of the Property damaged, provided each re.~taration or repair is ecunomictslly feasible snd the security of
<br />thin \lortgage is net thereby impaired. If such restoration ar repair is not economie,tll}• feasible or if the socurity
<br />of this lortgage would he impaired, the insurance proceeds shall be spplicd to the sums secured by this llfortgage,
<br />with the oxeess, if any, paid to Borrower. ti the Yropern• is abandoned by Bm•rotccr er if Horrower fails to respond
<br />to Lender within 3U days after notice by Lender ro Borrower that the insw•ance carrier offers to settle a claim for
<br />insurance benefits, Lender is authorized to collect and apph• the insurance proceeds at I,endet's option either to
<br />restoration or repair of the Property or to the sofas secured F>y this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall
<br />not extend or postpone the due date of the monthly installments yet"erred to in paragraphs 1 and 2 hereof or change
<br />the amount of such installments.
<br />If under paraaraClt IS hereaf the Property is acquired by Lender, ail right, tine and intemst cf $arrawer iu
<br />and to any insurance I~roficies and in snit to the proceeds thereof +ta the extent of the Kmus secured br this &Iort---
<br />gage imritediataly prior to such sale rte si•quisitior.t resulting 6•am damage to the Property° prior to the sale ar
<br />asquisitiarr ehsll I,a~~ ~a Le°der.
<br />&. I-'rasatvat~~n ~:d Naintenm~ice of Prcperfy: Leasgholda; Cp><sdaminiums. T~ctrrowe r shz:ll ke€l, else Prop-
<br />eruy err ge.~i ei,air rand stiali nrrt pe~nit ar eammit waste, irrpair;uent, or detr•rioratiun aI the I'ro{tert.y and shall
<br />;imp y .. e e .;ions of cry o - \Iortsag~ ;;r .. ,f-.,.x.ik~id. I: ;h:- ~Iortgag€ is an :, eaniiaminiurri
<br />unit, ?3r-rratyer shal4 Iterfarus all at' Borrawer o!?likatton- under the riec!aration of rande.,ttiniunt nr toaster ds'ed.
<br />the' by-iawcs and regulations o! the rontlomiuium prajeet and consntuenr r-Iarum.^uts.
<br />7. Protcetion of Lender's Security. tf 13arrateer lain ro perform the covenants and agreements contained is
<br />this ilcrtgage, or ii any action ar pracerding is cowuu•uced ~shioh materially atlert:= Lrndet• interest In the Prop-
<br />erty, ineh:di»g, but rut limited ta, eminent domatiu. w~olcenry. cndB eufarcenu~nt. or ;rrr:utgentrnts ar proceed-
<br />ings involving a bankrupt en• decedent, then Leudt°r st Lend-Br's option, upon nonce t~ 13orrawc~r, may ttuike sucks
<br />appearance;, disburse such .urns and take such action as i. accessary to protect bender's intcri^st. including, but
<br />not limited tai dishursetatent oI reasonable aitarney'x fee- ::red entry up>an th€ I'rop2rt.y to make repairs. Any
<br />amounts disbursed by Lender pursuanE to this laragraph 7, with interest thercan, shat! baccme additicwat indebt-
<br />edness of %3on•ower secured by this \lortgage. Ilnle s I3orrower and Lender agree to other terms of pwtnent, such
<br />amounts shall be payable upon notice from Leutier co Borrower requesting lrayment thereof, and shall bear inter-
<br />est from the dau+ at" disbursement at t!tc rate staters in t-he Aot~^ unh_ e pa~•ment of interest at such rata wautd be
<br />eantrar=rr to applicable iau•, in which went >uch atnawrts shall bear interest at the highest rate permissible by
<br />apph€able I.ew. tiothing containtai fn this lraragrapl! r' shall rettuirc Lender to incur any expense or do arty act
<br />hereunder.
<br />S• Inspection. bender may tunke or cause to he made rcasanahle entrie> upon and inspections of the Prop-
<br />e its, t>rnvlder} That T endf,r ltnn r , ?St]rynw,,•, +:rf!; . .
<br />thrtwt~rr rvintmt rssT ,a. tom., ~~. the P, - ", ...'iy _.,. ,. .~e=i~-... ., .-r-~~,f yin caainab:E :,au:~:~
<br />~. taandiexnnatian. 'the proceed. of any award ar elaint tar damages, direct or cousegttential, in connection
<br />with any condemnation or other taking, of life Prapcrty, or• hart thcrcol. or for consc~yance in litre of candemna=
<br />lien, rare hereby assigned and shall be ]said to Lender.
<br />In the Brent of a tat-al taking at the Property, the pracceds shall be applied to t6c sums scoured by this tiiort-
<br />gage, with the ~eess, it any, paid to Borrawer, In the event oI a part-ia! taking of thc~ Proptirt.y~, unless Borrower
<br />and Lender otherwise agree ht x•r~r:ittg, ther€ shall be apitiicd to the sums sec urc~ct by thin \lortgage such propor-
<br />tion of the proceeds as is equal to that proportion wltieh the amount of the Bums secured by this Mortgage imme-
<br />' diately prior to the date of taking bears to 'the fair market value of the Property itnutediatcly prior to the date of
<br />takie,g, with rho balance of the proceeds paid to Borrower.
<br />If the Property is abandoned by Borrower or iE after notice be Leader to Borrower that the condemnor offers
<br />to make an award or settle a claim for datuago, Borrower fails ro t•espontl to Lender within 30 days of the date
<br />of such not#ea, Leader is nut#toriaed to collect and apple the pear-Beds at Lcutior's aptiun either to restoration or
<br />repair of the Property or ter the sums secured 6y this \lortgage.
<br />Uttlesa I,ertder and I3orrower otherwise agr.~e in ,x•ritinr, arty such application of lroceeds to principal shall
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