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If unrier paragraph lg I~ereof the Propert,p c sold or the Property is nthcrt)~i.,c ;t~'quired by fender. Lender
<br />shall apply, no later than in'mtediatd}~ prior to the sale of the Yrop;;rty nr its aentui_~ition L~sy' Lensier, r~3nv l^'and<
<br />held by bender at the time of application as a credit again-t tb€> >~mus secured h~' f11i+1 .'vk)rtgage.
<br />3. Application of Payments. Unless atpplicabli 'arc provides othr~rtvisc, ell l~aynGents rer~aaiv2;d 3)}• Len€ler
<br />tinder the Note and paragraphs 1 an€! 3 hcrenf :Mall ht°s applied h~' Ltvtuler f"~~r~C fat pavrnetrt €rf sniotn~at= @>u,~:~ible to
<br />Lender by Borrower under paragraph '2 hereof, then to interest lu€pab!c m~r tltc Hots- and on $•uturc :1;~ivssnces. if
<br />any, and then fo the principal of the Note. and to the principal of Future Ar.yanc•es, if an}•.
<br />~I. Charges; Liens. Borrower shall pay' all taxes, assessments and other charges. fines and impositions attrib-
<br />utable to the Property which may attain a priority-.ot•er this Mortgage, and ground rents, if any, at- Lenders
<br />option in the manner provided under paragraph ? hereof m• by Eorrower• making payment. when due, directly to
<br />the payee thereof. Borrower shall prompt)}• famish to Lender alt notices of amounts due tinder this paragraph,
<br />and in the event Borrower shall make payment directly, Eorrower shall promptly furnish to Lender receipts evi-
<br />deneirs s~ech payments. Borrower shall promptly discharge any lien which has priority over this Mortgage; pro-
<br />vided, that Borrower shall not be required to tlisclrarge any such lieu so long ss Borrower shall agree in writing to
<br />the payment of the ohligatio^ secured by such lien in a manner acceptable to Lender, or shall in good faith contest
<br />such lien by, or defend anforeerrient of such lien in, kgai prove-edings tehich operate to prevent the enforcement of
<br />~" the lien or forfeiture of the Property m• any part t i)ereei.
<br />5. Hazard Insurance. Eorrower sirail keep rice in)l~rovements now existing or hereafter erected on the Prop-
<br />(°~ erty insured against loss by fire, hazards included within the Term `extended coverage", and suds other hazards as
<br />Lender may require and in such anun3nts anti for suds }aeriods as Lender may r€-quire: provided, that Lender shah
<br />Q ' not require that the amount of such coverage exceed that amount of coverage required to pay- the sums secured'by
<br />® this liottgage.
<br />The inarranec ۥarrier providing the insurance shall be chosen by Borrower sui)ject to approval by hender;
<br />~ provided, that such approval shall not he unressor.al}Ir withheld. All premiums mt insurance Iolicies shall be paid
<br />~, at Lender's option in the nusnner provided under haragrthh `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 interest, may procure insurance on tha improvements, pay the premiums and such sum shall becorne
<br />immediately due and payable with interest at the rate set forth in said note until paid and shall be
<br />secured bti• this ?Mortgage. Failure by I3orrow't•r to comply may, at option of Lender, constitute a default
<br />under the terms of this :Mortgage.
<br />All insurance policies and rene;vak thereof shall he in form acceptable to Lender and shall include a standard
<br />3ugrt~aee et.~use in favor rf ?n€3 itr fortu accehcx€hlc ui Lender. I cnrier' shall have the right to Intl) the pc~li€•ieg ,till
<br />renewals t-hereof, and Borrower ,hall prompt h• furnish to Lender all renewal notices and all receipts of paid pre-
<br />miums. Iu the event of lusS, Borrower shall give prmupt notice to the insurance carrier and Lender, and Lender
<br />may make proof of loss ii not matte promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, iusurauru proceeds shall be applied to restor'aCion or
<br />repair of the Property damaged, provided such restm•ation ur repair is uvonumieally feasibly and the secm•ity of
<br />this Mortgage is not thereby impaired. II such restoration or repair is not econu3nieally feasible or if the security
<br />of this Mortgage u•ouid be impaired, the instu•auce proceeds shall he applied to the stuns secured by this Mortgage,
<br />with the excess, ii any, paid to Borrower. li the Property is ahaudone€t by Eorrower ar if Borrower fails to resportl
<br />to Lender within 30 days after notice by Lender to Eorrmver thaw the insurance carrier offers [o settle a claim for
<br />insurance benefits, bender is authorized to collect and apple the insurance proceeds at Lender's option either to
<br />restonttion or repair of the Property or to the sums secure, by this Mortgage.
<br />finless Lender and Borrower otherwise agree in tvrit:ng, any such appiicat.ion of proceeds to principal shalt
<br />not extxnd or postpone the due date of t-he monthly iastalhuents referred to in paragraphs 1 and `~ hereof or change
<br />the amount of such installments.
<br />Ii under uaraerar)h IL"c hereof the Prooerty is acquired 6v Leader, ail riri3t, fit-ic and int~rt•at of Borrower iu
<br />and Corny insurance poheies and in anti to the prnct•cds t{acreof stn the cxte3rt of the -ut.; securt4t by tl3ia Tort=
<br />gage irmediately° prior to such sale ur acquisitions re-ultiut; iruw .iuroagr to th!• Property prig to th,: >aie or
<br />;tL'iln L;,)t2QF1 sia$1'r }?ass t.i) I_E'rlder..
<br />~, Preservatlan and MainCenance o1 Property; Leasehold,; Cc+ndaminiurrra;. i3arrs=w..•r sl± €il iseet) tlrs Pro}?-
<br />eriy in good repair and shall not permit ur commit waste, impairment, or sletr•riorarion of the I'ro}terry and shall
<br />eornp;y with tn. p.€ ....-iou4 €ri .€z i .€.:s€, :i this Mortgage i:: € , a redser.o..~ r: ;,~,. ytort~,at,r i. .,.., condo3niniurn
<br />unit, I3orrowar snarl r:erform all of Borrower'.> obligation, untie. b:- ~ rtrittii:n of _t ~iornrcrrur•) ; . tt;a_=ter deed,
<br />the by-laCVy and regulations of the eondonriuium prgiect and rmrsaurent dacuruenr_~.
<br />7_ Protection of Lender's $ecutity. If F3orrawer faits to perfi)rm tht~ rat°cnssnt. itrni ;tgrx.rnrcnts evattained 3u
<br />this Mortgage, or ii any action or proeee€iing is cournteucea! )chic): uuttrrially atTt•crs i.€•nder•s uuervst ir3 t-he 1'rol*-
<br />orty, including, but.:.ot limited to, ensinent don)au.. 3nsoic,~ury. s'u<1s t°niorrerucut. u; .sr~rarrgeuts•nts ur pracced-
<br />inga involving a bankrupt orr decedent, then Lender at Lender's opuun, upon nohcr to Isurruwcr_ u)av make such
<br />appearances, disburse such sums and take suelr action as t- nerr~sarc to proh>rt Lender',. mtcre•a. including, but
<br />nut lxrti!a€1 to, tlisbur.~enmrt of reasorraL-le artcrney'- i~c•- amt e~;try' npt~3t thr Yrapi<rty iG 3ttait;= repair. Any
<br />amounts thsbursed by Lender purz;uant to this l.iragr:.pkit ~. a)`3tla interesr thereon, shah becourr adti3tirsnal indebt-
<br />edness of Eorrower secured by this Mortgetgc. ilniess Eon•owrr and Lender agar to outer tartu~s .,i ;i;.yr3arnt, such
<br />amounts shall be payable upon notice from Linder to Borrower requesturg puyu)ent thereof. anal =iuai'~ bear inter
<br />est froth the data of disburserttent. at the race ,gate€i in the Aote uull::,~ pavmrnt iii i3tter~t at sat;: race would be
<br />contrary Co applicable Saw, in which event such amount:- shall bear interact at the higi3eat rare permissible by
<br />applicable lacy. Aothing eontantesi in this paragraph 7 ,hail require i.ender to incur any ~xpenae or da any set
<br />hereunder.
<br />@. Inspectioa, Lender may make or canoe to be n)ade reasonable entries upon and itsspc~rtirrtts of the Prtr})-
<br />_'t-Jr tr~yrde=:l i.i' -r . Fr-€- P[:3. ~i. f-s .,E .. ~ , Taal ) .r.iy aaf'li rn-.pi ..3 ~ °~, °ca ;iar.c .~ia~-r
<br />tr`aeici6i• i-ilatcc"I tc3 facnde~r'; mfc~3°est m the I'r`oua3`c~-.
<br />9. Condemnation. The pmreeds ot• tuty~ award or claint for damages, direct or cansequeutial, iu connection
<br />with any eondemnatian or other taking of the Property, €re part thereof, or far etmyeyance in lu•u of e~ndvtmra=
<br />lion, aro hereby assigueef and shall be paid to Lander.
<br />In tt38 event of a total taking of the Property, the Ireoceeds shrsll he applied to thr suuu li,~ruresi by this Jlort-
<br />gage, wi;,h the excess. if any, paid to Borrower. In the et°eut of a partial takinu of the Property. mdess Borrower
<br />and Lender athercvise agree in writtng, there shall her applied to the sours secured by ibis Ata•tga};a such propor-
<br />tion of the proceeds as is equal Co that proportion which the amount of the sums secured in• this Mortgage imme-
<br />• diately prior to the date of taking bears to the fair market value of the Property imntediatcly prior to the date of
<br />Caking, with the balance of the proceeds paid to Eorrower.
<br />If the Property is abandoned by Rorrocver m• if after notice by Lender to Eorrower that. the condemnor offers
<br />Co snake an award or settle a ciains for dautages, Borrower fails to respond to Lensier within 3(? days of the. date
<br />of such notice, Lender is authorized to eollee6 and aplrly the proceeds it Lender:+ option either to restoration or
<br />repair of the I'ropcrty or to Che sums secured by this Mortgage.
<br />ilnle~s T.en.lgr and 1?orrown,• o:hertviss agt~ ir: w•ritir:b, ant sue}: appliaatio;; of procee:da s,o priruipal shall
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