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<br />CSS
<br />Tt' t.rtder ct,ragraph lh i,ereo t=,r Yrol{ r ~ , .-ra n rs the I' aprr;,_. t crt reel, e acyu re 1 0}- f,rt,aler I.e Eder
<br />:half apply, no later than imt_ted,ateIy prior to r,lrt^ >,alr~ of the Prcq; rt~_ w,€ tr:~p ai+gur:itiatt b~ Lrr,rlea..au',r~. funrl~s
<br />held f>y Lender at the tirt~rc of apphcatiori a~, crt~~dlSt t,,air:t done u,rts .,r:~nrKri ky±v 'tr~is llnrtgatgc,.
<br />~ Application of Pay,meats Unless rlrplrt.ahlz I trti pt~inRrlr'r othFrst ., stld pawmtant r°eceivr,. by Iaandar
<br />under the °;at.~ and tsaragrapl~is 1 and 2 here nt h tlll NFr r-ip}tt.aa }Hi- bend, r f, sf ut I~ravanent of ,~rtnortzkt~ tr~yable to
<br />Z.endrr by Borrawer tannr<r paragraph ~ iicreaL :rretra .a mt,.t~igst l,atya~i:~lc. can tt~~at Note and on I++"tature ~,r:•anr'es. i$
<br />any. and then to the principal of the Note anti to the princil}ai of Future Atlyanrc=, if any.
<br />~.. 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 over tbis lortgage, and ground rents, if any, at Lender's
<br />option in the manner provided under paragraph 'l hereof or fry Borrawer making payment, when due. directly to
<br />the payee thereof. Borrower shall promptly furnish to Lender all notices o! amounts due under this paragraph,
<br />and in lire event Borrower shall make payment directly, Borrower sltall promptly furnish to Lender receipts evi-
<br />dencing such payments. Borrower shall promptly discharge .my lien which has priority over this Mortgage; pro-
<br />video, tl;at Borrower shall not be required to discbarge any such lien so long as Borrower shaA agree in writing to
<br />the payment of the obligation secured by such lien in n manner acceptable io Lender, or shall in good faith contest
<br />such lien by, or defend enforcement of such lien iu, legal lu•oceedings which operate to prevent the enforcement of
<br />the )fen or forfeiture of the Property m' any part thereof.
<br />5. Hazard Insurance. Borrower shall keep the hnprevements now existing or hereafter erected on the Prop-
<br />erty insured against iris by fire, hazards included within the term `extended coverage". and such other ltazsrds as
<br />Lender may require and in suci, amounts anti for snch periods as I.encfer may require; provided, that Lender shah
<br />not require that the amount of such coverage exceed that amount of coverage required to pay the sums secured'by
<br />ibis tilortgage.
<br />The insurance rattier provid•,ng the insurance shall be chosen by Borrower subject to approval by Lender;
<br />provided, that such approval shalt not be unreasonably withheld. All premiums on insurance policies shall be paid
<br />at Lender's option iu tits manner provided under paragraph 2 hereof or by Borrower making payment, u=hen due,
<br />direetIy 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, rosy 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 'vfortgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br />under the t.errns of this 14Tortgage.
<br />.all insurance policies and renewals thereot shall be in form acceptable io Lender and shall include a standard
<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 Borrower shall promptly furnish to Lender ail renewal notices and all receipts of paid pre-
<br />miums. In the evert of loss, Borrower shall give prompt notice to the insurance carrier and Lender, and Lender
<br />may make proof of loss if not made promptly by* Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shalt be applied to restoration or
<br />repair of the Property damaged, provided such restoration ar repair is economically feasible and the security of
<br />this Mortgage is not thereby unpaired. If such restoration or repair is not economically feasible or if the security
<br />of this 1ortgage would be impaired, the insurance proceeds shall be applied to the sums secured by this i4lortgage,
<br />with the excess, if any, paid to Borrower. If the Yroperty is abandoned by Borrower or i[ Borrower fails to respond
<br />to Lender within 30 days after notice by Lender to Borrower that the insurance carrier offer:: to settle a claim for
<br />insurance benefits; Lender is authorized to collect and apply the insurance proceeds at hander's option either t.o
<br />restoration or repair of the Property or io the sums secured by this Mortgage.
<br />unless Lander and Borrower ot•hervise agree in writing, any such application of proceeds to principal shall
<br />sat extend or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change
<br />the amount of such installments.
<br />If under paragraph TS hereof the Yroperty is acquired by Lender, all right, title and interest of Borrower in
<br />and to any insurance policies and in and to the proceeds thereot (to the axkent of the sums secured by this _liort-
<br />gage immediately prior to such sale or acquisiiionl resulting from dautage is the Property prior to the sale or
<br />acquisition shall pass to Lender.
<br />6. Preservation ~d Maigtenance of Property: Leasehalda; Coadomiaiuma Borrower shall keep the Prap_
<br />arty in goad repair :tad shall nat. permit or commit ta•aste, impairment, or iietariorstion of the Property and shall
<br />comply with the pravisiors a, :try lease, if this Eiertgage is on a leasehold, If this .~lortgaga is art a condominium
<br />unit, Borrawer shall perfanu all of Borrower's obligations undnr ttte elaelarattan of eondatninium or masiar deed,
<br />the by-laws and regulations of the condominium project and constituent documents.
<br />7. Protection of Lendei s Security. If Borrower faits to perform the covenants and agreements contained in
<br />this Mortgage, or it env actimt or proceeding i_c connnenced which materially affects Lender's interest in the Prop-
<br />erty, including, but not limited to, aminenc douutin, insolvency, code enforcement, or arrangements or proceed-
<br />ings involving a bankrupt ar decedent, then Lender at Lender's option, upon notice to Borrawer, may make such
<br />appearances, disburse such stuns tuxl take such action ns is necessary to protect Lender's interest, including, but
<br />not limited to, disbursement of reasonable sttgrney's fees and entry upon the Property to make repairs. .any
<br />amounts disbursed by Lender pursuant to ibis paragraph i, whit interest thereon, shalt become additional indabt-
<br />coneys of Borrower se^ured by this Mortgage. Unless Borrower and bender agree to other terms of payment, such
<br />amounts shflll Le payable upon notice from Linder to BOYro:ver requesting payment thereot, and shall bear int~r-
<br />est from the date of disbursement at the rate stated in the Note unles,~ payment of interest at such rate would be
<br />contrary to applicable law, in which event such antounks shall kaear interest at the highest rato pertnisgible by
<br />applicable lau'. \othing contained in this paragraph r shalt require Lender to incur any expense or da any act
<br />hereunder.
<br />8, Inspection. I.rnder may make or• cause to he made reasonable entries upon and inspections of the Prop-
<br />erty, provided that bender sltall give Barrau-er nnticc lrrior to .uty such insltaction aliecifying reasonable cause
<br />therefor related to Lender's interest in the Property.
<br />9. Condemnatioa. The proceeds of any award or claim tar damages, direct or consequential, in connection
<br />with any condemnation or other taking of the Pralrt+rty. or part thereof, ar for conveyance in lieu of condemna-
<br />tion, are hereby assigned and shall !>c paid to Lender.
<br />In the event of s total taking of the Property, the proceeds shall be applied to the sums secured by this \Iort-
<br />gaga, with 'the excess, if any, paid to Borrawer. In the event of a partial taking of the Yroperty, unless Borrower
<br />and Lender otherwise agree in tivriting, theta shall be applied to the stuns secured by this Mortgage such propor-
<br />tion of the proceeds xs is equal to that proportion which the amount of the sums secured by this 1ortgage 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, Evith the balance of the proceeds paid to Borrower.
<br />If the Frnperty is abandoned by Borrower or if after notice by Lander to Borrower that the condemnor offers
<br />to make alt award ar settle a claim for damages, Borrower faits to iaspond to Lander within 30 days of the date
<br />of such notice, Lender is authorized to collect- and apply the proceeds at Lender's option either to restoration or
<br />repair of the Property or to the sums secured by this \lortgage.
<br />Unle€~ Lander and Borrower otherwise agree in writing, any such application of pm ,;ads to principal shall
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