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If under paragraph lfl Hereof the Prapertc Es Gold ur the. Propert} fs otherwise acquired be Lender. Lender
<br />shall apply, na later than irmnediate!y prior to the sa~ile of the Pro{cart}- or its atrluiwikiirn Ere Lernier, env Funds
<br />held try Loader at the lilac of application as ;~~e cr"erdit against the gums ~ci'untd i~~ thi.~ y'Inrigs~egc
<br />9..Aphliaation of Payments. Unless ;aprri~it,ablt Eaty provides atPrt:~rrsis~e, :ell l,i;~~eyn'er,.nts rtreictxi !ry Lender
<br />under the iQote and fraragraphs 1 and 2 hart+of shall hts alrplieti by T.endcr He-t in 9,raymN~z:t erf :an?ounts l:ayablo, to
<br />Lender by Borrower antler paragraph 2 hereof, then to interest payalrie an the Nvte an+'1 or! I^"stare ktivances, if
<br />any, and then to the principal of the dote and to the principal of Future Advance,, ii any.
<br />4. Charges; Liana. Borrower shall pay alt taxes. assessments and other charges, tines and impositions attrib-
<br />utable to the Property which may attain a priority over this Mortgage, and ground rent, if any, at Lender
<br />option in the manner provided under paragraph 2 hereof or 6}• Borrower ma§ing payment, when due. directly to
<br />the payee thereof. Borrower shall prompt-Iy furnish to Lender all notices of amot;nts due under this paragraph,
<br />and in the event Borrower shall make paymeni directly, Bm•rower shall prompt)}' iuruish to Lender receipts evi-
<br />dencing such payments. Borrower shalt promptly discharge tun• lien which has riorit}• over this \iortgage; pro-
<br />vided, that Borrower shall not be required to tiiseharge any such lit:n so Im?g as Borrower shall agree, in writing to
<br />the payment. of the obligation secured by such lien in a manner acceptable to Lender. or <lrall b? goad faith contest
<br />such lien 6y, or defend enforcement of =ac.e lieu ur, legal ,rroccedn?gs which operate to prcvcu the enforcement of
<br />the lien or forfeiture of the Property ar env part ihamof-
<br />5. Hazard Insuraace. Ban•ower shah kee{r the imrrocentents now existing v; hernafter erected on fire Pron-
<br />arty it?sated against. loss lry pre, hazards i;?=cludc•+i w:tltin the trrm 'extended coverage". and such other hazards as
<br />Lender may require and in such amawtis ztrr~ for anal. lrE~ritds as Lender rna} require: provided, that I_endor shalt
<br />;! not require that the amount of suciE coverage exree~.i t i::;t amount of cote--rage required to pav the suns secured'by
<br />9 t4is Mortgage.
<br />~ The insurance carrier providing the rnurance shall Le chaser by Burrower subject to spprocal by Lender;
<br />r
<br />provided, that such approval shall pat ix• uareascna~ic withheld. Ali premiums on insurance politics shall be paid
<br />at Lender's option in the manner proci~ie~' tnrr;er {vuagraph 2 hereof or be Borrower making payr,ie~nt, 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 Irrtrtect
<br />its interest, may procure insurance on the improvements, pay the gremiums and such sum shall h°tr~•tne
<br />immediately due and payable with interest at the rate set forth in said note until paid and shall =+
<br />secured by this Mortgage. Failure by Harrower to comply may, at option of Lender, constitute a default
<br />under the ternts of this b4ortgage.
<br />All instn:tnr•e polir•tes and renewal' thereof small be in loan acceptable to Leu~ier and shall iarhaie a suu?dard
<br />rn~ig~.~e rl°~,°- ~, a.eei ,., ,,,..., o. el: ~t-lu tJ I ~-: d~ Loltt{., sl; .I] hav, r4;~ >•igL,t to hai,i .h.. ~Litit.~ ;_ 1t
<br />renowals thereai ~~and~Borraw~er shalhproruptiv~furnish to Lender all~ronewal notices and all receipts of paid pre-
<br />miums. In the event of loss, Harrower shall give prompt notice to tl•.e insurance carrier sad Lender, and Lender
<br />Tray stroke proof of lass if trot made }rromptly by I3orro?ecr.
<br />Unless Lender and Borrvwcr trthera•i_c uflrt•e in writing, utsur.uttt proceeds shalt be applied to restarativa or
<br />repair of the Yrol>erty dsmagetl, pracideti anal: restoration or repair is economieullc irasiblc and the srcutit}• of
<br />this 3lartgage is pat thereby impaired. I{ such restvrtttiou ur :•c°pair i< not etanvnticslh~ Iettsihle or if the security
<br />of this llartgage would 6c in?paired, the insurance proceeds sb:di be aplrlied to thr• aunts seeureci be this i4tortgage,
<br />with the excess, ii any, paid to Barra?var. I; tlrr Ytro{>erc}° is abandoned by 8orro:cer or ii I3orratver fail. tv rzslmrd
<br />to bender within 30 days after notice by Lender to Borrawee that the insurance tarrior offers to sertte a claim for
<br />insurance trenefita, Lender is authorized tv collect and appl}• thr insurance proceeds at- Tender's option either to
<br />restoration or repair of the Property yr to dre sums secured by this Mortgage.
<br />Unless Lender and Borrower othencise agree in writiuE, say such spplie~at:on tit proceeds to principal shall
<br />not extend or postpone the due date of the monthly installments referred rr iu paragraphs t and 2 herevf or change
<br />rho sn?ount of encl. inst;ilrnent4.
<br />z: .. _.~.._.... _.,....n..e, r~ 4,...,o.,: tL.. V.,,.,..,.r,. :.• n.,.,.,:..0,7 t,.. T<ar.r~., ulI ~~nht t_;r i., o.,<t ;..to~o~r n3 A.,..n.+.a~ in
<br />and tv any ia~:urauee pvlictea rend it: at,.{ err t1TC prveeet.a thereat w thr~ ta.~ t„ of tltc Lams ~ecurcti: by t}ris ?Mort-
<br />gage imnrediatciy prier to such aait• or acyuisilimn resuhin~; from d:uuat;e to rite Property prior to the sale or
<br />acquisition shall puss to Leud;;r.
<br />5. Preservation and I'rlaintananoo of Prapertyt Leaseholds; Condominiums. t;orrawer shall kee~~ the I'rolr
<br />ertv in e:aod retrair and shall not. permit ur commit waste, impartment, ur deterioration of the Property anti shall
<br />comply with the proviszns tit an}° le-:es'c, it ttu. .lartgage is ern t .. tlrai+i. ii thislfvrtgagtr i an a cvntfvmintunt
<br />unit, Baerawer shall pcrfarrrt :ell «f Barrotver'- trlrligatiol?- tt!uier ?nc~= clettarittio!? o! cvndan?iuitm? err n;astcr deed.
<br />the by-law, and regulszt~,:, of the coudvnriniunr project :end consuulenr .locurm•nts.
<br />7. Protection of Lender's Security. if Borrower lolls to pcriorut tiro covenlutts :unl agrrenrents contained in
<br />this \4ortgage~ or if any action or pnreecding is conuuonrerl n•liir~li nueterialh' afrect.~ t.e•nder's interest it, the Peolr-
<br />erty, intludi.;I;, but nut limited to, emeuent donruur, m~ulveucc, rrrde• eniorreu?ent, ur arrturgetncnt, or proceed..
<br />ings involving se bankrulrt or decedent, then bender at 1 tirdcr's opt:ut.. upon pollee Lt, l3urruwt-t•, uray make such
<br />appearances, dlslut~e Hoch sums and take such actrou ;e. i~ ut~crssan~ to ptvuect Leader's uderrst„nclading, but
<br />nut fimited to, disbut•se?pent of reasonable atiorney's tet•, and colt}~ upon the Property to mane repairs. Any
<br />amounts disbursed by L.euder pursuant to this paragraph ;, r~ ieh rntcrest thereon, si?ali btevnre additional Cndebt-
<br />edness of Barrvw°r secured by ±ht Alort.gage. Unless Borrower and Lender agree tv ether ±erms of lr;eyment, such
<br />an?ounta Shull be payable upon notice iron Lender tv Rorrowrr requesting payment thereof; and shall )rear it?ter-
<br />est tram the date. of di.>butsement ;tt the cleft ,rated m the \ote unless payn?ont of interest at siteh rate ?sauld be
<br />coat-racy tv auraitablc late, in wl-licit went such amounts shall brat interest st the alight=st rate prrmissiirlc hl•
<br />applicable law. A'v[hing contained in this paragraph sl?tell retltuse I,cnde.~ a ,plat any expense ar dv any act
<br />hereunder.
<br />8. Inapeetion. Lender alas make or cause to hr m:uie reasonable entries upon and inspections of tle Pmp-
<br />cet y, pre+ided trial Letid~r wall give larrower naneo Errrar to ur str t.?pecttvn spet`iii=ini; rr-asontiblc- i-=iu€r
<br />therefas• related t~? Lender`s interest it? ti?e Prvfrerty.
<br />8. Condemnation. 'I`Ite proceeds of ems award or r•lairn iar damages, direct. or consequt:ntial, in t:onnectivn
<br />ee•ith any eondernrtatia? or other taking of thr Property. nr part thrrty?i, or for r•oat~r~'anr'c in lieu of roudenut;r-
<br />t1on, are hereby assigned anti shall be (raid to Lender.
<br />In the event of a total taking of the Property, the pracecd~ shall be applied to rho sours soured by this liort-
<br />gage, with the excess, if arc, paid to Borrower. h? the eceut of a partial taking t?i the Pruprrty, unless Burrower
<br />and Lender otherwise agree in writing, there shall be turpheil to the sums _~ecured by this ~lvrtgagt Snell prapar-
<br />tion of the proceeds as is equal to that proportion which the amount of the' sums secured ly this \lortgage imme-
<br />diately prior to fire date at taking beats to the lair urarket calac erf the I'rvperty immediately prior to the date of
<br />taking, with the balance of the proceeds paid to Borrower.
<br />Tf the Property is abandont~t! by Borrower or if a€ter notice by Lender to Borrower that the condemnor offers
<br />to make an award or settle a claim for dan?ages, Borrower fails to respond to Lender within 30 days of the. date
<br />of sash notate, Lender is authorised to collect and app)}' the 1?ruceeds at Lender's nation either to ~erstoratimr or
<br />repair of the Prvpeety ar to the €tuns secured by this \lartgage.
<br />Unless i.entier anti Borrower othettvise agree in writing, any such application of lrroteeds iv principal alto))
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