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If under paragraph 18 hereof the Yronerty is sold or the Propert}• is otherwise acquired b~~ Lender. Lender
<br />shall apply, no later than immediateh• prior to the ,ale of the Propert}• or its acquisitimt by Lender.:m}• Funds
<br />held by Lender at the time of application as a credit against the sums secured be clefs ~~iartgage.
<br />3. RpPUeat:oa of Payments, unless applicable lan prot•ides otherwise, all payments received by Lender
<br />under the :Vote and parageaphs I snd'2 hereof shall he applied hp Leudcr first in payment of amounts parable to
<br />Lander by Borrower under paragraph 2 hereof, then to fattest payable mr the \ote and on Future Advances, it
<br />any, and then to t}ta principal of the fiats a:ad to rite principal of Future _idvanc{ s, if any.
<br />4. Charges: Liens- Borrower shall pad- all taxes. :assessments tut.] other charges, fines and impositions attrib-
<br />utable to the Propert}- which rosy attain a prioritc aver this \Iartgage, and ground rents, if any, at Lender's
<br />~} option in the manner provided under paragraph '? hercaf or by Borrower malting payment, +vhen clue, directly to
<br />+~ the payee thereof. Borrower steal] pramptl} ;'urn!>i. to Lerdcr all nod ices at amounts due tinder this paragraph,
<br />+Zi and in the event Borrower shall melee pat-tnent directi~-, Barraner shad pranrptly furnish to Lender receipts evi-
<br />denting such payments. Borrower shall nromptlr discira;ge au}- lien which has priority Deer this \[ortgage; pra-
<br />vided, that Borrower shall ner_ be regttired to disrhsr~e an\~ suci! :fen so Long as Barrotcar shelf agree in writing to
<br />Q the payment of the obligation secured 6y such lien in a manner acceptable to Lender, or shall iu good faith contest
<br />j suc3a lien by, or defend enforcement of sac]! lien in, cgal procec-dings witiel! operate to peacoat the enforcement of
<br />[ the lien or forfeiture of the Propet#c or nn}• ,tart thereof.
<br />~ 5. Haaard Iusuraaee. Borrower shall ]teen riot !ua;vovements now existing ar hereafter erected on the Prop-
<br />~ arty irsured against lea br fire, lrayards included ;within *.lre tern: '`extet!ded coverage", and such other hasards as.
<br />Leader may tequzre sad in such atnoun;s ant': far =act! ;*eriods as Lender ma}• require: provided, that Leader shall
<br />not require That the amount ai such coverage exceed t h::t stnount of rorerage requiredzo pa}- the sums sectued'by
<br />thu ?+ia2^.g8ge.
<br />The insurance carrier ptvviding the insursuce shah be eirosett h}~ Borrower subject to approval by Lender;
<br />pmtided, that such approtsl shad Hat he unressanabl}- withheld. All premiums on insurance uuiicies shall be paid
<br />st Lender's antfan in the manner provided under ltarsgrsph _ hereof ar by Borrower making payment, when due,
<br />dirertlr to the in_=ttrance carrier.
<br />In the event any ptrlicy is not renewed on or before ten days of its expiration, the Londe,, to protect
<br />it_s interest, rosy pzacure insurance on the improvements, pa}- the premiums and such stem shall become
<br />itnmediateh' due and pa~'gble with interest at the rate -mot Earth in said Hate until paid and shall be
<br />secaared be this Mortgage. Failure by Borrower to comp ; may, at option of Lender, constitute a default
<br />._ s,~.m~
<br />IIi1i]GY" IRC LC3"~ Of 'ihSC :\ ligag,C.
<br />311 insurance palirie; and renewals thee<~~f sh<r11 be in fonu aet~p.able to [.ender anti shall iatcludr a standanl
<br />anartgsge clau_~ in favor of and iu iorna srec~ptaltie to Lender. Lender shall bare the riglu to halt the policies and
<br />tenewsLc ilaetfof, arse Borrower slrali promptly iurnislr to Larder all renewal notice, and ail receipts ai paid pre-
<br />anium:. in the event of lass, Barmwer =hall giver pzvmpt notice to the itsurance carrier and I.erder, and Lender
<br />aaay make proof of loss ii not tnsde promptic ur Harrower.
<br />Bnless Lander and Harrower otherwise agree ir. writing, insurance pmcec~~s shall be applied to restoration ar
<br />rtpa;<r of tlae Prapery dstnaged. prnridevi sur?_ restarszion .;. repair is eronunairaliv feasible :and the sectarity o;
<br />this iiongage is Hat :bombe impaizrd- Ii such rrstora[imt or repair is not ecanamicslly fessitrle or ii the security
<br />rt this >iortgage would ~ imnairni. the i;~su!~n~~c pracee~i. ;l.aL i,s applied to the sums seeureri by rhos Mortgage.
<br />aitla tdat esetsc, ii env, paid to Borrow:z^. ii the Pra;rert~ is a;,sr..loned bc- Barron er ar ii Borrower Exile to respond
<br />utr Lentitr within 3t3 dsyc suer satire hs- I ender to Borrower that the insursnce carrier affety to settle a claim for
<br />inatxxanae beta£lt[.c Lender is authariaed to i-oliee: and apply the insurance proceeds at Ixnder's option either to
<br />te~tatataara az repair ai tlrz Propert}- ar to the stuns secured by this _lIortgage-
<br />Lnlt~s Lender and Barron•er othervta~ agree in xriting. snv such application of prow~~eds to nrincipal shall
<br />not erfend or gw-tpone the 3rs~ date of the uwnthh instalin;ents reiEr-c~ to in paragraph, i and 2 hercaf or change
<br />tlae amount of such installment;..
<br />Ii ua3der I~arazrap}a 1$ hemai the Pxx3pe.ty L set;oared br Lender, all right, title and iaierest of Borroxer in
<br />and to any in-curaar~ no?icies and to sad tc+ *_be l+nx~-~-~3s thereas +ta tl:r extYnt of *. he auras .eeur~ be this ~iort-
<br />imrneciiate;T Iarior to sorb ale or arcuisitiaa ~ resultitr~; from damage to r?ae Pmpen~~ prior to the sale ar
<br />stulatisitiom shall pass to Lender.
<br />5, p:~vdxtiom dead cd Property: Ledasholda: Cdsadomiaittmc. Borrerx•er sisal! keep the Prop-
<br />rsty rn good repair sad shall Hat permit ~r rommi=. waste- impairment, ar deteriaratior: of the Propert~- and shall
<br />eaaaply tcitb the }mrsions ai ear 1~. if t.*ais ~iuztgasa~ :: ou a leasehold- Ii t:,ts liaa-tg-age is an s eondaminium
<br />unit, Ra13'o,!rer shall zus#am, ail of Bor*uwer's oL'_igation: under the derist•atiot: ai eandemiaaum or tnaster deed;
<br />Slat b}-iae•s and mgttlatiatas of the ec+ndam~nium 7vm;xt and constituent dcxun:rnts.
<br />T. Protsetion of Le'a Security- if Barzxswer fa!i: to t~rform ±tte e.avearsrt_: s.:rd agreements rantained in
<br />this:dortgage, ar ii ant- artian ar nxbre2wiang is romn:enrz4i w;ri+.•h ::ratensilti a$ects Lrriter~: !nter+est is the Prop-
<br />ertF. inch, dingy, teat not iitnatxd ta, eminent don;an:, rr oi+e:;,°;~ . ; tki~- rttfo:,~rt:i.~n:. yr yrraarg<sne*nt= or ptvre,?d-
<br />itat*alcing a tc3nl-t^apt err decelisnt, riser, Lender at ixt;der s a}~t.rm;, ,tptsz: natacr to Borrower, may make such
<br />ate, disburss aura.! sums and *ake such actim! a> is nrccsss;'y to pn~txt Lender's interest. including, but
<br />sot limitei ua, disbursetaaest ai h:85atra[x1C attor~y s fees and entry up!7a the Propert}- to :Hake mpaitt>.:~ny
<br />amouata dislrtarstd by Lender putsaaant to this r*ra>~ nl; :. n•itls intere,t t;.^.srean. ahaii ,mcoive additional indebt-
<br />etixxtscs ~• Batxva~er sec~aretl by this liottgage. IInkss Borrox er anti Lender agree to ether ternas of payment, such
<br />aaratwats shall be payable upon nat:ce iron; Linder to Barm>i er requec-ting payment the.*eoi and shall bear inter-
<br />~ Esau floe date of tii_cburserner.*_ at the rats stag ir. the '_\atc unless payment of interest st such rate would be
<br />tanttary txa sr*yalicabie law, in wlaicn event surir anaaus!ts steal; fear intere;-t st tar highest rate pertnia-siblo by
<br />spglirable lave-. '.Cothing rontsino<i ix; this ps.^sgraplr ; _=#!ali r~uirz~ 1_Ynder to incur an}• expense or do any sec
<br />~_
<br />8. L -ender ttsr anake or rsu=~ to i~ ntsi.° rep=ana±lic en.rie- upon arci insl>ntians of the Prop-
<br />et#y, }mvidecl that Ltrnd=r s_hail giro Borrasrer natir~= Friar to aanr -1c1e in-l+ection =;rerifyinr reasonable cause
<br />tit#nr related #n Lender`s intet~t. in the Prapertr_
<br />!. Cmdem;~ox+. '1°tae proceeds of ant award or slain: for damages, direct ar conscqueaatisi, in caaanection
<br />v~ axag of +~*~~ tnkin9 ~ ?i,P pr*_~rtc: nr 1?art tLetsat, ar #er ronvt~-auce in 1_ieu of condsmna-
<br />t~, axe 3- assigned and •.hsll be paid to Lender,
<br />in t3s~ er®i a# a total trsking of the Property, thc~ lrroreeds shall he applied to the Bums sccumd b}• this ~iort-
<br />t~ge, evith edit atmpi, ii say, paid to Bturax•tr. In the event ai s laartial taking of the Propem-. unless Borrower
<br />ands I.vuler atheta~ agrc+E in vrftitag, them elasll be applied to the sums secured br this liar gage such propor-
<br />tidan of Llx prooeeds as is equal to that propnrtioaa ;shish the amount of the sutras necur+ed 6y thin Mortgage imwe-
<br />to flat date of taking bears to the fair uaarket vatue ui the Propettc immediately prior is the date of
<br />~G yield the balance oI tlae groceeda; paid to Borxoa er..
<br />If ~ Prapertp is atasndaned by Borrower or if error naticr try bender to Borrower that tree condemnor offers
<br />to make an avant ar settle s claim =,ar datnages, Harrower fails to respond to Lender within 36 days of the date
<br />a£ saach tao#itre, Lender is atrthari>;ttt io ctrttect and apply the ;st•aecads at Lender` option either to restoration ar
<br />t~tair of tltt Propartg or Go the sums serure;d by tlait Mortgage.
<br />I#raieas Lender and Harrower otherwise agree in writing, any' sash applieatioa of proceeds u principal shall
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