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If ender paragraph IS 'rtcreof the Property is sold or the Property is other, wise ;,taquirirr'1 Ly Lender, bender
<br />shall apply, no later than immmediately prior tea the sale of fife Property or its acquisition by Lender, ally Funds
<br />l'teld by Lender at the time of apllication as a credit. against the :;tuns secured by tins A~Irn•tgage.
<br />3. HpplicatoA of Pay~m~ents. Unless applicable !acv providees atherw•ise, atI] payment's ,~ceivc~d by bender
<br />under the Note a;nd paragra}ohs I and 2 harGaf ~s}~~tacli !te applied by Lender first in paytnrrat txf amounts payak>le to
<br />Lender by Borrower under paragraph 2 hereof, then to interest. payable mt the Note and on Future Advances, if
<br />any, and then to t-he principal of the Noie and to the principal of Future Advances, if env.
<br />4. Charges: Liens. Borrower shall pay al l taxes, assessments and other charges, fines at.d impositions attrib-
<br />utable to the Property which may attain a priority over this il4ortgage, and ground cents, it any, at Lender's
<br />option in the me>>ner provided under !taragraph 2 hereof or by Borrower making payment, when due, directly to
<br />the payee thereof. Borrower shall promptly furnish to Lender al! notices of amounts due under this paragraph,
<br />and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evi-
<br />dencing such payments. Bon•ower shall prom}sly discharge env lien which has priority over this Mortgage; pro-
<br />vided, that Borrower shall not be required to discharge any such lien so long as Borrower steal! agree in writing to
<br />the payment, of the obligation 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 />?,j~ the lien or °:,rfeiture of the Property or any part thereof.
<br />5. Hazard Insurance. Borrower ,half keep the improvements note existing or hereafter erected on the Prop-
<br />~ ert.y insured against loss by fire, hazards included within the term "extended coverage". and such other hazards as
<br />'.ender may require and in such .unounts and for such periods as Lender may require; provided, that Lender shall
<br />not require that the amount of such coverage exceed that amount ai coverage required to pay the sums secured'by
<br />~ this Afortgage.
<br />f\ The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender;
<br />provided, that. such apptroval shall not be unreasonably withheld. All premiums on insurance policies shalt be paid
<br />at Lender's option in the manner provided under paragraph 2 hereof or by Borrower making payment, wher, due,
<br />directly to the insurance carrier.
<br />Ir-. `; e ° °°t r~.~ ~~ no# renewed on or before ten da s of its ex iration, the Lender, to rotect
<br />its interest, may procure insurance on the itriprovements, pay the premiums and such sum shaii become
<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 Martgage.
<br />A}! insurance policies and renewals thereof shall 6e in form acceptable to Lender and shall inehtde tt standard
<br />tnaivg-a~e clause in favor of alto in farm ac~r:rl,tnh!e to Lender. Lender she}I has°c the right to bald the policies and
<br />renewals thereat, and Borrower shall promptly turni=h to Lender all renewal notice, and all receipts aI paid pre-
<br />miuns. In the event of losc_•, Br,rrower shall give prompt notice to the insurance carrier and Leader, and bender
<br />may ,flake proof of loss if eat matte promptly by Borrower
<br />Unless Lender and Harrower otherrvtse agree ir. writing, insurance lroceeds shall be applied to restorat.ian or
<br />repair of the Property damaged; provided such mstoration or repair is oConatuicsily feasible an<i the security of
<br />this Mortgage is not tirorehy impaieed. ti such t~ tar:,tion ar repair is nat. economically feasible ar if the security
<br />of Chia .lortgage would be impaired, the insm•anre }rror~eeds shall be app6ii:d to the arms secured by this ?tfoRgage,
<br />with the excess, if any, paid to Barrow°er. If the Property is ahanrloned I,y Borrower or if Borrower faits to respond
<br />tc Lender within 30 days after nonce by Lender to Bcrrower chat the ntsurance currier offers to settle a claim for
<br />insurance benefiis, Lender is authorized to collect and apph• the insur:utce prviceeds at Lender's option either to
<br />restoration or repair of the Property or to the sums secured by d,is Mortgage.
<br />finless Lender and Borrower otherwise ogre, in writing, any such application of proceeds to principal shall
<br />.,.+r atirs+o,i ur nastpmte rho due date of the monthly iustaliments referred to in !,taragraphs 1 and 2 hereof ar change
<br />tie atuount. nt such in~tsllmeuts.
<br />It under t_,aratrap!a 18 hereat the Yeapcrty is ;required by I.cndc., a!1 right, title and interest of I3ormwer in
<br />and to t:ny a:=erattce paiuiec and in and to *.be proeeerL thereat tta the extent of the aunts sue-u red by this Mort=
<br />gage nnmediutei}` i,rior trt aucit sale or acquisitiour eesulting iron, duu,age ro the Property pric'rr to the gale ar
<br />aaxluisiiian ;teal! l,xs3 t~ I.entier.
<br />~. PreservatiOA and MaiAteAaACe at PiOP4!'t,(: LdaB!•1141d8: CondOrgia3YIT7$. H[,rraweP .shall keep the Prap-
<br />erty in good rel,ntir and shaii eat permit or commit waste, impair,nent, ire deteriotatiou of lire Property +tnd shall
<br />cotnpiy pith tl:c prat°isia?es of ant• ieaso, if this Mortgage i:- on a ieaseiea!tl. if this Mortgage is on a conrtominium
<br />unit, Bort-c,wer shall pertorm al! aI Borrowers al~!igations under rite declaration of eondauxinium or masfer deed,
<br />Ghe by-law. oriel regulations of the rond~ntinnuu project awI constituent documents.
<br />9. Protection of Lender's Security. It Rorrow~r-r fail, to poriorni rho rovontutts and ngreemuttts contained in
<br />this.llortgagc, a• it any action or !;rocecding r commoner.{ which w;ucrialh' affects Lender`s interest in the Yrap-
<br />erty, ini~ladiug, but- not limited to, emineett dou~aut, ut.uhcuec. crate cnturrenu~nt. ur arraugenumta ar proceed-
<br />ings involving a bankrupt or decedent, then Lender ut I•cnder's option, upon native to Borrorvee. may make such
<br />appearances, disburse such Bunts and take such action a ,s ucressary to protect Lender', interest, including, tent
<br />eat limited tq dis!,,utvement of reasot:ahle attorney's fei•s and entry ul:on the Property to make repairs. Ar,y
<br />amounts iliebursad by Lender pursuant to this paragra}rl, F, with interest thoeean, sliatl become additional indebtc
<br />adness of Harrower secured by Qris Mortgage. Unless Borrower and Lender agree to other Berms at payment, such
<br />amounts shall be payable upon notice frmu Lender to Borrower requesting paymeni thereat, and shall ileac inter-
<br />est fron', the date of disbut~ement at the rate stated in the Act-e unless !tayment of interost at such rate would be
<br />contrary to applicable law, in which event such amounts shaii bear interest. at t-he highest rate p~rmissib!e by
<br />applicable lure. Nothing contained in this paragraph ^ shat! require Lender to incur any expense ar do any set
<br />hereunder.
<br />$. InapecHon. Lender may make ar r•auee to hr merle reasaun6le onh•ies upon and inspections of the Prop-
<br />erty, provided that Lender she!! give I3arrawer entire t,riur to ,tny sue•!a ie,~S?t'eti{?ta :!=r~ify;,t~ rem„t;at,ie cause
<br />thHrafer rotated to Lander' t*erest. ,^. tl:e Property. - -
<br />S. Candemnatian. The proceeds at any award or claim for datiaaxes, direct m• cousequctttial, in c-annection
<br />with ales condemnation ar other taking of the Property, ur part thereof, ar fear conveyance in lino of candetnna-
<br />tian, are hereby asagned and shaii he paid to Lender.
<br />In the event of a total taking of the 1'roprrty, the l,racceds shall be applied to the sums secured by this Mort-
<br />gage, with the excess, if any, paid eo Borrower. Li the event. of a partial taking ei the Property, unlea5 Borrower
<br />and Lender otherrvisc agree in writing, there shall be applied to rite soots secunxi 6y this \IartGage such propor-
<br />•tion of the proceeds as is equal to that. proportion which the amount of the sums secured by this \fortgagc imme-
<br />dietely prior to the date of taking beau to rho fair market value of the Yropeny immediately prior to the date of
<br />taking, with the balance of the proceeds paid to Borrower.
<br />If the Property is abandoned 6y Borrower or i£ after notice by Lender to Borracer thai. the condemnor offers
<br />to make su award or settle a claim for damages, Borrower fails to respond to !.ender within '';Q days cat the date
<br />of ouch notice, bender is authorised to collect anri apply the proccetla at Lender's option either ur restorat-ion or
<br />ra~sir of the Property or to the sums secured by this Mortgage.
<br />IIn}css bender anti Barrmver otherwise agree nt writing, any such application of proceeds io principal shall
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