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<br />If under pttragraph 'F8 hereof the 1'roptttti to saki or the t~'ropert}• t of-nenvi c acgttitv~~ ny Lenrict, Lender
<br />shall ap!'tly, rtu later than imutcdiately prior to he sa,kt ut the Pro}rent}• of tt~ rzc<pnsuian bt Lerr+Jer..eny T'trntls
<br />held by bender at the time of apphcatiart as a creaiiC :+p„uin,t situ. srtrns securrad l,l.- this \Qortgagt~.
<br />3. Applscation of Payments. Unless a}t}tlicta}ria 3,tw prorides otherwise.; a31 payme~ntw roceive^d by Tarncler
<br />tinder the Rote and paragraphs I and 2 irercof shalt he applied by Lcndcr fiat in payment of amonnts payable to
<br />Lender by Borrower under paragraph 2 hereof, then to intercat. payable on the S°ote and on Future Advances, if
<br />any, and then. io the principal of the \ote anti to the principa( of I•uturi~ Advances, if any.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments and other charges, fines and impositions attrib-
<br />utable to the Property which may attain ;~ priority over this lortgage, anti ground rents, ii any, at Lender's
<br />option in the ,Wanner provided under paragraph 2 hereof or by Borrarver making payment, when due, directly to
<br />the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph,
<br />snd in the event Borrower shall make payment. directly, Bat•rotwer shall prornptiy furnish to Lender receipts evi-
<br />dencing s~.rch payments. Barrower shall promptly discbarge any lien which has priority over this Mortgage; pro-
<br />' ~ vided, that, Barrower shall not he require,.! to discharge any such lien so long as Borrower shall agree in writing to
<br />the payment of the oLiligatio^ secured by such lien in a manner acceptable to Lender, or shall in good faith contest
<br />~ such lieu by, or defend enforcement of such lieu in, legal proceedings which operate to prevent the en#orcement of
<br />' ~ the lien ur forfeiture of the Yroperty or any part thcreo;.
<br />S. Hazard Insurance. Borrower shall keep the nrrlu•aweurents uotw existing or hereafter erected on the Prop-
<br />~~ crty insured sgainst loss by fire, hazards included within the term "extended coverage", and such other hazards as
<br />~ Lender may require and in such amounts :nevi fur sucl: periods as lender may require: provided, that Lender shall
<br />not require that the amount of such coverage exceed that amount of coverage required to pay the sums secured'by
<br />n this Mortgage.
<br />1'he insuranne carrier providing the ntsurauce shall be chosen by Barrower subject to approval by Lender;
<br />provided, that such rpproval shall not be unreasonably withheld. All premiums on insurance policies shall be paid
<br />at Lender's option in the manner provided under paragraph '? hereof or by Borrower making payment, when due,
<br />direet}y to the insurance carrier,
<br />_ In the event any policy is not renewed on or befoae ten days of its expiratian, the bender, to protect
<br />its interest, may procure insurance on the improvements, pay the premiums and such sum shall become
<br />immediately due and payable with interest at the role set forth in said note until paid and shall be
<br />secured by this ?vtortgage. Failure by $orrower to comgly may, at option of Lender, constitute a default
<br />ender the terror of this 14lurtgage.
<br />_ All insuranne policies and renewals thereof shall be in form aceeprabte to Lender and shall include a Stan*iard
<br />mortgago clause in i:tvor of and in form acceptable to Lender. lender shall hsve the right to hold the policies and
<br />renewals :::envoi, and Borrower shall promptly furnish to Lender all renewal notices and ail receipts of paid pre-
<br />miums. Lr the event of loss, 13orrotvvr shall givo l,routpt notice ro flee insurance carrier and Lender, and Lender
<br />may make proof of loss if not made promptly l,~ Borrower.
<br />Unless Lender and Borrower otherwise agree in twritinp„ insurance proceeds stroll be applied to restoration or
<br />repair of the Property damaged. pruwhlecl suc!t rouaration ar repair is ccunomically feasible and the: security of
<br />this Mortgage is not thereby impaired. If sorb restoration m• eepair is not economically feasible or if the security
<br />of this Mortgage would be impaired, the insurance proceeds shall hr ap}riled to the sums secured by this Mortgage,
<br />with the excess, if any, paid to Borrower. li the Yropert}• is ahandone._' by Barrower or it Borrower fails to respond
<br />to Lender within 30 da~•s after notice b}- Lender is Horrau-er that the insurance carrier offers [a settle a claim for
<br />insurance benefits, Leader is authorized to collect and apph~ the insurance proceeds at Lender's option either to
<br />restoration or repair of the Property or to the sums secured by ibis \Tottgage.
<br />[finless Lender anct Borrower otherwise ogres in writing, any such application of proceeds to principa} shall
<br />not extend or postpone the due date of the monthh• iustalhuents referred to in pat:ggraphs 1 snd 2 heteoi or change
<br />the amount at such mstaliment=--,
<br />If under paragrapb I8 hereof the Yroperty ss ac:t}uired by Lender, atll right, title and interest of Barruaer in
<br />= and to any in*urance policiest unfit! in and to the proceeds there+of do the extent ut the sums sectrreci by this \iort-
<br />gage infuse±>diatcl_y prior to _ucle sale ar acv}utnitiont a•esultinn lento datuage to the Pru}art-y }roar to the sale ar
<br />acquisition, shall pass to Louder.
<br />6. Presertratiorr r~td Maintenance of Property; Leaseh4lda; Gandaminiuma, Barrower shall kee}a the Prop-
<br />erty in good repair and xha;t stet pertntt ar canuuit waste, inrpairuert, ar deteriaratiorr of th._= Property and shall
<br />_ comply with the uruvisions of any !ease, ti thi; Mortgage is on a leucholti. If this Mortgage is an a rondc~minitun
<br />unit, Borrower shall perform ail of Borracver s ohiigations under the deelaratian of cundatninittm ar master deed,
<br />the 6y-laws and eeguiattons el the cmidom;niunr }!roject and constituent dacunrents,
<br />7. Ihotection o! Lender's Security. ]f Borrower fails to pcrt•ornt the covenants :end agrecnrents contained in
<br />this \Iurtgage, or ii any action or proceeding is conuucneed which nrateriallc afTects l,encler's interest fir. the Prop-
<br />• erty, including, but nut limited to, eminent doutaitt, insolvency, code enforcement, or arrangements ar proceed-
<br />ings invoh•ing r+ bankrupt or decedent, then Lender at I.cndcr's oF,~ion, upon rroticc to Borratver, Wray n;ake retch
<br />appearances, dis!>urse such swrrs and take such artier :+s i, necessar}• to protect Lender's interest-, including, but
<br />not limited tt>, disbursement of eeasonable attorney`s tees and entry a}ran Hte Yroperty to mako repairs. Any
<br />amounts disbursed b.• i.ender pursuant to this paragraph 7. with interest thereon, .stall F+eeome additional indebt,
<br />edness of Borrower secured by this ~Iortgag<~. thtless Borrower and Lcndcr agree to other tarots of payment, such
<br />amounts shall he payable upon notice from Tender to Borrower requesting payment thereof, and shall hear inter-
<br />est from the date of disbursement at the rate stated in the tote unless payment of interest at such rate would be
<br />contrary to appiicablat law, ;n which event such amounts shell bear interest at- care highest rate permissible by
<br />applicable law. lathing contained in this paragraph i shall t•cquinr Lender to incur any expanse or do any act
<br />hereunder.
<br />8. Inspection. Lender may make m• cause to he made rr:rsonahle cronies al?on and htspectfans of fire Pro}z-
<br />crtY> Provided tbut T.endcr !~ita[I givo Borrower norirc itriar ro :toy such ins!>eet-ion <l,ecifying reasonttitie cau,+e
<br />thsrefar related tr: Leader's interest in t+te Property.
<br />9. Coademnarion. The proceeds of any award or claim for dtunages, direct or corset}uential, itr connection
<br />with any eauderetnt+tion ar other taking of the Property, or tutrt thereof, ar far conveyance in lieu of condemn-
<br />Lion, are hereby t+ssigned and shall he paid to Lender.
<br />In the event. of a total taking of the 1'ropcrty, the proceeds shalt be applied to t-hc sums eecurnd Icy this Alort-
<br />_ gage, with 'tire ~xccss, if any, paid to Barrae•er. In the event of a partial taking of the Property, unless Borrower
<br />and Lender otite.rwise agree in writing, there shall 6e applied to chc sums secured he this ~[ortgage such propor-
<br />tion of the proceeds as is epttal to that proportion which the amount of the runts secured by this Mortgage imme-
<br />diately prior to the date of taking bears to the fair market value of the Property immediately prior to the date of
<br />taking, with the balance of the proceeds paid to Borrower.
<br />If the Property is ahandom.d by Borrower or if after notice by Lender to Borrower brat the condemnor offers
<br />to make an award ar settle a elaitri fm• damages, Barran•er faits to respond to Lender within 3t) days of the date
<br />of such notice, Tender is authorised to aalleet and apple the proceeds aft Lender's option either to restoration or
<br />repair of the Property or to tPte sums secured by this Mortgage.
<br />Unl:;s Lender and Borrower athartvise agree fir writing, airy such application of proceeds to principal shall
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