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If under paragraph 18 hereof t~hc Props;•Gy :n sold or the Propeit~• gs ~s,~r~'t°~ru+iaa: actlCti,red Fh~ I,ende~r I~,.rm9er
<br />+hall apply, no later bran immediat,elyln•iort;<i thtt dsla of tlr'ri Yropr*rtc orb tt, arrl,taip;tttun,;9!;y' L;c,~,der. art~y'1'rn~ic3s
<br />held b}• Lender alt-the tune of .ap}~ilieatimt'ad a r,redii~ atgatti~r r~l'nesum~ ~ea'uf~t.{ ht ~th~is \IovP'ga;;e
<br />3. Application of Payments. Unless applicable late provides othern'ise. all pacmeuts re_eeivcd by Lender
<br />under the emote and paragraphs 1 and 2 hereof shall 6e applied by Lender first in payment of amounts payabla fn
<br />Lender by Borrower under paragraph 2 hereof, thou to interest payable on the A~ote and on Fuhtm Aelvances. if
<br />any, and then to the principal of the \rote and to the principal of P'utura :ldcancae. ii anv.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments ;urd other charges, fine, and imlaositions attrib-
<br />utable to the Property which may attain a priority over this Mortgage. and ground rents, if say°, 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. Burrower shalt promptly furnish to 7,ender all notices of amounts due ender this paragraph,
<br />and in the event Borrower shwa make payment directly, Borrower slndl promptly furnish to bender receipts evi~
<br />~1. denting such payments. Borrower shall promptly discharge any lien which has I~rriorih• over this \-[otgage; pro-
<br />Ta vided, that. Borrower shall not 6e requiter.{ to discharge an}• such lien so long as lim•rower shall agree in writing to
<br />(~ the payment of the obligation secured by such lien in a manner arc•epr.:hle to Lander. or shall in good faith contest
<br />~ such lien by, or defend enforcement of such lieu in, legal proceedings which operate to prevent the enforcement of
<br />~ the lien or forfeiture of the Property or any part [hcreot.
<br />t~ 5. Hazard Insurance. Borrower shall keep the improvements now exi=tin; or Irereaiter erected on the Prop-
<br />erty inured against loss by fire, hazards included [[-{thin the term "extended coverage", and such other hazards as
<br />~ Lender ma}~ require and in sack amounts and for suet{ periods a> Lender uuty require: provided, that Lender shall
<br />h ' not require that the amount of such coverage exceed that amount of coverage required to pay the sums secured'by
<br />this ~Iw'tgage.
<br />The insurance carritu• providing the insurance shall be chosen b}• Borrower sabiect to approval by Lender;
<br />provided, that such approval shall not he unreasouablc withhahl.:111 premiums on insurance policies shall be paid
<br />at Lender's option in the manner provided under paragt.vph '? hereof or he Bm-rotrer 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 the improvements, pay the premiums and such sum shall 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 Mortgage.
<br />.Vi insurance poiir•.ies and renewals thereof shat{ Vac in term acceptairie to Lender ani.l shall include a standard
<br />mort-gage clause in favor ut amt in form acceptable to hen~hrr. Lender shall have the right to hold the policies and
<br />renewals thereof, and Borrower shall promptly iuntis`h to Lender alt renewal notices and all receipts of paid pre-
<br />' miums. In the event of loss, Borrower shall give prompt notice to the insurance carrier and {,ender, anti Lender
<br />may make proof of loss if not made prompth• by Borrower.
<br />Unless Lender and Borroter o[herwise agree in writing, insurance proceers_hall be applied to restoration or
<br />repair of the Property damaged, provided such restoration or repair is ecunonrcatlh feasible and the security of
<br />this Mortgage is rot thereby impaired. Tf such restoration or repair is not economically Icasible or i[ the security
<br />of this Mortgage would be impaired, the insurance proceeds shall he applied to the sums secured by this .Mortgage,
<br />with the excess, it any, uaid to Borrower. If the Property is ahamloned 6y Borrower or it $orrower fails to respond
<br />to Lender within 30 days after notice by Lender to Borrower flint- she insurance carries otTers to settle a claim for
<br />insurance benefits, Lender is authorized to collect ;uui apl:h• thr~ insurance proceeds at I,endcr's option either to
<br />restoration or repair of the Property or to the sums secured by this \lortgage.
<br />Unless Lender and Borrower othern•is~ agree in writing, any such applicntien ui proceeds to principal shall
<br />not extend or postpone the due date of the monthly installments referred to in paragraphs l sod 2 hereof or change
<br />the amount. of such installments.
<br />If under psragrapl Iii hereot the Property is. acquired I;y Lender. a}I right, tit}e and interest of Borrower in
<br />and to any insurance policies and iu amt to the proceed. theraoi rte the extent of the awns secured b~- thi:= 3[ort-
<br />bag~ immedintelti• prior to snob sale or acquisitiuui resulting ittirm damage to tlo~ Property prior to the Sale or
<br />acquisition shall pas, is Lender.
<br />6. Preservation a:xd Maintenance of Property; Leaseholds: Condominiums. Burrower s1talI keep the Prop-
<br />erty in goad repair and shall not pcnntt or commit rvuste, impairment, ur detanora~iorr of the Prrperty and sltsll
<br />comply wtth rite provisions of any ic~c, ii this Murigu~;r i, vu :~ '.., ,. ~ „ ., ,,.::1c::i::i:r^,
<br />-unit, Borrower shall perform at1l of Borrower`s ohhgatiuta under the derisration of condorniniutn ur master deed,
<br />the by-laws and regulations of the rondominiuui project and constituent document:.
<br />7. Protection of Lenders Security. If Bot•nnecr fail. to parfurut the covenant's uur,l agreenxnts euntained in
<br />this \lortgage, or if soy settee or prucectbng is cununeuce,i trhiclr nnucrially affects Lender`s interest in the Prop-
<br />erty, utcluding, lint twt limited to, curinent dunrriu, nrwh~eauy, code c•n(urcann°m, ur arrrurgetnents or proceed,
<br />logs irnnlving a h;tnkntpt, ur decedent, rhea hinder ;u Lender`. option, upon nonce to Borrower, uruy make such
<br />appearances, disburse ouch sums nod take such :u•tiou ns r uera,aary to protect Lrndcr's interest. including, but
<br />not limned tn, drsbursrment of reusonuhle uttornc•yS lets and crtry upon tht~ Pro}rrety to stake relrairs. An~°
<br />amount»s disbursed by Leader pursuant to tl:i> paragraph 7. frith interest thereon, shall heeourr additional indebt-
<br />edness of Bonower secured he this Alortgage Unless Burroter and Lemier agree to other terms of payment, such
<br />amounts shall hr payable upon nonce {ram Lender to Borrower ragttastiug payment thereof, amt shall treat inter-
<br />est from the data uC disburceutern :rt the rate stated iu the \otc unless payment of interest a, such rate would be
<br />contrary to applicable late. ru which eyelet such .uuonota 4ha11 bear interest st the lrigktest rate ~rmissihte by
<br />applicable L•ar. Aatiing contained iu this paragraph ~lmp require Lemler to incur any expe;rse nr do any act
<br />hereunder.
<br />9. Inspection. Lcmtcr may make or cause to ba aunts rcasnnahla antrie,+ upon an+l tnspaerucn: <rt' tltr PMp-
<br />erty, provided ehnt hander shalt give Bm•roti-er notice print nt any ueh in,pertinn specifying reaaonrtblr cause
<br />therefor ra.tated to Lender's interest m the= Property
<br />9. Cot7demnatlon. 'I`he proceeds of any award or claim for damages, direr[ or canarquentiak, iu etrtureetiou
<br />with any eondanmation or other takinb uI the lrroperty, or p:u•t thercui, qr [nr cuuveyanee in hen of conde:n'ut:r
<br />Gion, are hereby assigned and shalt he paid to Lender.
<br />In the event of a total raking of the Property, the proceeds ,hall he applied to the sums secured !ry thin ~Iurt-
<br />gagc, with the excess. it any, paid to Borroter. lu the event of a pnrtiul Faking of the Property, tmlerr Burnrwer
<br />and Lender otherw•i,e agree in t±-riking, there shall 6c applied to the stuns ;seared by this Alortgage such propor-
<br />tion of the proceeds as is equal to that proportion which the tuuouut ui the sums secured Icy this Mortgage inuue-
<br />' diately prior to the date of taking be;tes to the fair markce value of the Propartt hnmedintely prior to the date of
<br />taking, with the balance o~f the }rroceeds paid to Borrower,
<br />If the Property is abandoned try Borrower or ii after notice b}• Lender w Borrower that the condemnor oR•ers
<br />to make :m award or settle a claim for tiau;ages, Borrower fails to respond to Leucier withitr 3Q days of the date
<br />of such ttotiee, Lender is aruthnrized to nollecf and apply the prncecvis at Lender'. option sillier n, rc>torae~ion ur
<br />repair of the Property or to the sums secured 6y this \lortgage.
<br />Unless Louder rani Borrower oGhertvise agree in tariting, any such appIicstion of proceed= to }trine {pal shall
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