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If under ?earagraph 13 }iereot tf~,e Prooazrty i;; so3d or rhr; f't•aperty i:: ether;~.;se acyuireel !'iy Lender, I,znder
<br />s}tall apply, na later t,hati inimetiiat~=ly isriar to the s:rale o[ the I'toVr€=rtti• or tip as+:~rlur'ttion i,} :f.E=ader, strit• Funrlis
<br />held by Lender rat the time of applic;attor as a cr€c!:R, ragait~rct `her ~mns ser•ureri In• thts :t4ortgary*wo.
<br />3. ItpFbcatian at. Payments. LFn.le~ss al>l~roiical,,i€r la=,r l~rrov'i,tlF~s ~ot~nartvisr. all paym~zaa.~ teae,ivcrl ~}ay Lender
<br />under the Vote and paragraphs I and 2 hereof cita}i br applied by Lender first in payment of amounts paysbic• to
<br />Lender by Borrower under paragrsph 2 hereof, t-heu to interest pa}•ablc cn the ATOte and on Future Advances, if
<br />any, and then to the principal of the Note znr} io the principal of Future Advances, if any.
<br />4. Cherges; Liens. Borrower shall pay all taxes, assessments and other charges, f nee and impositions attrib-
<br />utable to the Property which may attain a priority over this Mortgage, and ground rents, if any. at Lender's
<br />option in the manner provided under paragraph 2 hereof cr by Borrower making payment, when due. directh• to
<br />the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this p. ~agraph.
<br />and in the event Borrower shall make payment. directly; Borrower shall prontpt.ly furnish to Lender receipts evi-
<br />denting such payments. Borrower shall promptly discharge any lien which hrrs priority over this Mortgage; pro-
<br />vided, that Borrower shalt not be required to discharge any such lien so long as Borrower shall agree in writing to
<br />the payment of the obligation secured by such lieu in a manner acceptable to I.encter. or stta}I in good faith contact
<br />aach lien by, or defend enfm•cetnent of such lien in, legal proceedings which operate to prevent the enforcement os
<br />the lien or forfeiture of the Property m• any part. thereot•.
<br />5. Hazard Insurance. Borrower shall keep the improvements now existing ar hereafter erected on the Prop-
<br />erty insured against loss by fire, hazards included within the term "extended coverage", and such other hazards as
<br />bender may require and in such :unounts and for such periods as Lender may require; provided. that Lender shall
<br />~ :.ot require that the amount of such coverage exceed that amount of coverage required to pay the sums seaured'by
<br />this i41ot•tgage.
<br />The insurance Barrier }iroviding the insurance shat} be chosen by Barrowei• subject to approval by Lender;
<br />provided, that such approval shall not be unreasonably withheld. All premiums on irsurance pal*.cies shall be paid
<br />at Lender's option in the manner provided under paragraph 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 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 />pIt ;ns„ranvz pal+.vies and rene.,,als thereof shat! tae in term aca~ptable to Lender and s}t al! include a stnarard
<br />mortgage clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and
<br />renewals thereof, and Borrawer shall promptly furnish to Lender all renewal notices and al] receipts of paid pre-
<br />miums. In the <<•znt of lass. Borrower shall give prompt t:otice to the insurance carrier and Lender, and Lender
<br />ma_r• make praaf cf loss if not made promptly by Borrower.
<br />Unless Lender and Borrower othzrtvise agree in writing, insurance proceeds stint! bz applied to restoration or
<br />repair of ±ite Property damaged, provided sac}t restaraiion er repair is economically feasible and tt;€> security of
<br />this Mortgage is not thereby impaired. If such restoration m• repair is not eeanomicall}• feasible or if the security
<br />of this Jortgage would be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage,
<br />with the excess, iI any, paid to Borrower. Ii the Property is abandoned h}• Borrmver or ii Borrower fails to respond
<br />to Lender within ;30 days after notice by Lender to Borrower that the instr spec carrier offers 'ta settle a claim for
<br />insurance benefits, Leader is authorized to collect and spply the insurance proceeds at bender's option either to
<br />restoration or repair of the Property or to Ghe sums secured b}• this Mortgage.
<br />Unless bender and Borrower atherwise agree in writing, an}- such application ut proceeds to principal shall
<br />noG extend ar postpone the due date of ti,~';nonthly installments reie rre<t to in paragraphs I and 2 hereof or ahango
<br />the amount of such installments.
<br />If under paragraph Ili hereof ehe E roperty is acquired by i.ender, ail right.,titlz and interest. of Burrower in
<br />and tc any insurance pa}fries and in and to the prtuaezds thereof tto the extent of the sums secured by this Mart-
<br />gngc irr r a€tii.r-;} i far to i- sa'se r rrlni ,t«in: tc ,i,t,>; tr~_~m diimagc to ilir I-rupert}' prier to the sale or
<br />ac.€ttji~ttS3h hail S}rays iG Lender.
<br />€. r"rsaer~atisn ~d ~"isistrrnanea of Praparty: L~eltoida: Condastrirxitrrtrs. Burrow€=r sha}t keep lie Yraly-
<br />2 ~y 1 : g-~w~ r=pr:rr ~_ ,~a_ :ict. p= ,:-, ~. ~. - ,~~- ;?Ipairrnc'r7i, 4t `}Ct rrarsteuri ai i hi Properi}' auu S~RIi
<br />~:~ -~~
<br />a:a-ttply will: t, t pr~v isi€;rs of -- lease, ;, , =rtKa~ i. «~ t ~asel,e}€}. If this Mortgag~€ is crrr :, ca-ndsnitr-earn
<br />unit, Borrowerfsha!} perform tri} at Borrawe{s ab}igationa tinder the dzelarstion of caudorninium or master deed,
<br />the by-laws end regulatiats of the condominiuru protect end cmtstituzru docuntonts.
<br />7. Protection of Lendei s Security. It Rarraaver fail= io perforru the covenants anei agreements containe€1 rn
<br />this Mortgage, or if any action ar proceeding is earuntenced which materially ,,ifezin Lrndat's interest in the Prop-
<br />erty, including, but not Iimtted to, eaninent ~#ontatta, asairenc}•, rra`!e rntarcetnent. or arraug~ment. ar praceed-
<br />ings iuvnlving u bankru}>t or decedent, then, Lender ut }.ender r o}ition, upon notice t« Burrower, pray ruake suers
<br />appearancz~, disburse suelt sums and take suci. ,rctian a~ t, u+•B€~~ary to protect- I,ettdee's inteeest, including, but
<br />net litniteci to, disbetrsement of reasonable att.orttey's lee. and entr}• vpotr the Property to make repairs. Atay
<br />atnounu~ tlisbutsed by Lender pursuant to this paragraph ; ,with interest thereon, shalt became additions} itrdebtr
<br />ednass of Barrowcr scoured by this \lortgagc. Ctnltrss Borrower and Leader agree. to otht:r ternta of payment, such
<br />aniaunts shalt be payable upon uoticc own, !.,ender to Borrawer requesting paytnout thereof, and shall }.,ear intEr-
<br />€et front the, flat€= of €lishursernrnt at the rat€= stated m thF !ot€ ttrtloss }}aymettt of intzr2st at such rate ti',uld be
<br />eontxary to applicable law, itt which event Ouch atraaunts shall iEear interest at rho Iiighast rt3ts per4.usaiblc 6}•
<br />appli<^able h;w. Nothing eontaiued in Ytais I~aragrap~b ?shall ttiquire lender to incur any expense or da an}° act
<br />hereunder.
<br />C3_ t~+=z~ection Z€tta..r t•t>•v =nar.c t -,__ _v !,: ..Yne1r rr+~,rxta=_ahi.= ~ r:trte a<p.it, ant} trtsp~ >ia~ of .hf. u,-~,,-
<br />arty, }~.r.vided thaw bender h..i} give f#errowet• ~n„r,<.<,~,,.-si<+; to -rt,} =ue•I:.t,~t3rr=tion npecif}~tng rrasonahlt ~zusz
<br />tharefar related to Lender`s interest in the Prop€ rtv.
<br />9. Condemnation. The pmezed; of un}° award ar rlain: for damages, dimet or causequential, in cortneetion
<br />with any t~rdetrmation ar other t-eking €>t t}te Prot~rty, or pact thercrof. ar far eattveyanee in }iztt of r=andemna-
<br />Gion, are herehy assigned and shall he paid to Lender.
<br />In the event of a total tttking of the Property, the proceeds shah be applied to the stinks secured by this :tiort-
<br />gage, with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, unless Bormwer
<br />and Lender otlte>~vise agree in writing, there shall bz applied to the suaus secur•eci by this Jlartgage such propor-
<br />tion of the proceeds as is equal to that proportion which the amount of the sums securz€1 Ity this ~tortgago imme-
<br />'diately prior to the date of taking bears to the fair tuarket valve of the Property immediately prier to the date of
<br />tatting, with the balance of i.he prpzeeds paid to Borrower.
<br />if the Property is abandonedd ay $ormwer ar if :after native b}• I.earder to Borrower thst the condemnor offers
<br />to ruake an award or settle a claiaa far ~!sm;rgrs, Borrawer fails to respond to Lender wit}rip 3t} da}-s of the data
<br />of aach native, Lender is authorised to collect slut apply the }rrceceds .u I Winder's option either to restoratior. ar
<br />repair of the Property ar to the sums :~arati by thisllartgage.
<br />Unless bender and Barrawor otherw}se agree in writing, any such application of proceeds t.a principal shat}
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