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If under paragraph 13 hereof the Property is acid os the Property is othc:-,vise urquircd b}• Lender, Lender
<br />:hall apply, no later t-ban inunediately prior to the ante of the Prnpcrt}- or it, ;tc:yuisitior. hp Lender. an}° h'unds
<br />held by Lender st the tinm of application ss a credit against the sum= secured by this ?Iortgatrc-
<br />3. Application of Payments. L?nles~ it?>plirthlc lan prox-idrs othcrn-i~c, ,ill payment; recci~ed hx- Lender
<br />under 'the \otE and psrsgral:lts I and '_' hereat rill 'tr applied In- Lender tirsz in payroeut of an;otmr pa}-able to
<br />Lender by Borrower tinder paragraph 2 hereof, tiun to interest payable on the Aah, and on 1• uture advances, if
<br />any, and then to the prineipsi ai rite Aon: and ro Lte principal of Future .1dc;mre~, if snc.
<br />4. Charges; Liens. Borrower sltatl ?,a} all taxes, s~zssmznts :taut other charges. Snc and impositions attrib-
<br />utable to the Property which tray attaitt a priority occ:r this \lort~age. anti ground rents, if ;un•, at Lender's
<br />~ option in the msnner provide;, ut:der paragraph hereof ar be Borrower ttzalting pacment, n•hen :awe, directly to
<br />the pspee theacof- Borrower shall protttntir Atraisi. tc+ Lender all notices c anxrunts due under this paragraph,
<br />snd in the eceni Borrower ;hall msltc nay-utent tiire~tiy-, Borrower shall promptly furnish to Louder receipts evi-
<br />dencing such payments. Barrocrer shall promptix- d.ecLame any loon which has ;=nority over ibis Mortgage; prn-
<br />tided, that Borrower shall not be required to discharge anx• sttcl.:ieu sa long as Herrower shall agree in writing to
<br />'Item}-meat ai the obligor=.ot: secured b}• suc•l: lire: ie : taa::::er acceptable to Lender. or shall in Qoad faith contest
<br />~ such lien b}-, or defend enicreement of sucl. lier• in, legal l,roceedin~s which operate to ln-event the enforcement. of
<br />~ 'the Sien or forfeiture of the Froperty or nay ;;art t i;ereoi.
<br />r` 5. Hazard insurance. $armw•er shall iteep rite i:nzoventents now existir,:; or hereafter erected on the Frop-
<br />ert~ insurzl, against. Lass by hie. hazards included within the fern; `•este;:ded coverage", Ind such other hazard, as
<br />Lender:ns}• require at:d i,. _ tc!: sntourt a,.., for <ucl: ~=riods as Lender may inquire: provided, titrt Lender shall
<br />- noLregttirtithat the amount of such coverage ex:eeci tlvtt smouni of coverage re,~uire:i to pay the stuns secumd'by
<br />'this \fartgage.
<br />T'he insurance. carrier pmvidiug the it;sura::te shall ire chosen 6v Born?wer subicct to approval by Lender;
<br />omvided-that such spprox-sl shall net be unressorat.h withheld..ail premiums an insurance Irclicies shall be paid
<br />st Lender's option ir. *,lte msnner nmvided under pira~r:=l.l: ' hereof or by Borrower malting payment, when due.
<br />directly to the insurance carrier.
<br />In the ex=ent am policti- is not renewed on ar before ten des}-s of its expiration, the I.ettder, to protect
<br />its interevct, tna}- procure insurance an the improvements, pay' the premiums and such sum shall become
<br />itrtn=ediateh' due and payable with internst at the rate set torch in said note tmtil paid and shall be
<br />secured by this ~iari.gsge. Failure by Borrower to comply none, at option of Lender, constitute a default
<br />under the terms of this 't'[ortgsge.
<br />_3$insurtnrc nniicic~ snd .~ncwals therec= ~i.<ti 1 tarns :turn>.1:~t~ t,t l.rt; i=~, an;f ;h:zil inc[ut7e a siamiarrt
<br />rnarttgage clause 9n favor ai ant: in it?rnt arc=~p,ah;e ut I_~ndzr. Len;i;•r shsl; hyt•e tlta right zo Loki the l~lieies and
<br />mnewaL thereof, and $ot-mwer shuU pn~mn;ly iurnts!: ;o Ixrder all renen•ai notices null ail receipts of raid pre-
<br />mit'.n= In the occur ai less. $armner s: mall giro .rwnpt nazire as ti,=• irst;rarce carrier and Lender, snd Lender
<br />taa~ make proof ai lass ii nai made pmmpth• lry Borrower.
<br />IInless Lender snd Borrower otherwise agra ir, w ritius, irsw-arre nracec'dc s%tsii be applied to restoration ar
<br />r+egair ai rate Fniperty damaged, g>_*uxidei sur;: r~~toratior, or re,?air i- cn•anontiraiiy feasible and the security of
<br />this ~foatgsge is not therebg in~psire=i. I= =uei; reszar clan a: repair is r.a econantieaily iessible ar ii the security
<br />of this ~iarzgage u-auld Ire impsirei. the jn:,,rsn~,r pror~ci> si:ali i.c applied to tl:e _unas secured b}' this ~iartgage,
<br />whim tae ezze~. it any. paid to Ba~av-c;- If ttte Fmlreny is aitsndone,i in Bormaer or if Harrower fails to respond
<br />to Lender wititia ~t data liter nazire by l.ezt+?cr to Borrower that the insurance csrriez a~et~ *,a settle a Maim for
<br />irs~**~oz beneIIts. Lender is sutharised tr. collect srd sppi}• the insursnce pmrerds st Lender's optiar. either to
<br />;es2arat5on ar Kpair of the Praperzx- ar to the sum, secured bt chi. _ylongage.
<br />~nle=s Lra+der and Barrxtwer azherwi=z agree in writing. sa~• sucl: snplic•stion of pra..~ds to principal shall
<br />not esiesd ar pnstpoae the due date of the ntontitl}- irstslhuents referr>d to in paragraph. 1 snd '? herYOf or change
<br />the smouni ai such insiallments_
<br />If tnder paragraph ifi hereai the Pmpr-~• is acquired br Lender, ail right, title and interest of $ormuer in
<br />and ttt any in-tarant~ palir;~ snzi in sue to t?te pnjec~•ds tltetYOi tto tht et:rrt a; t!:t~ s:m:s secured 6y this Mort-
<br />gage iaun~iateh- prior to ~ueh salt ar srr~uisitian r zesuhing *.mm ds:rage to tl:e I'ri}>zrt=- prS,rr to tlae sale or
<br />ac*qu;~un sisal' I~ to Lender.
<br />E. aa,3 Mairtteaaace of Property: Leaseholds: Coadaminituns_ Borrower shsi 'seen the Prap-
<br />atty ir; ~: repair and shall not pezmzt ar :amntit waste, impairnsert, 4v ,detrrarstion of the Pn~prrty and shall
<br />eamg}F Stith rite prxzvisiat:s ai snd lea-,t•. ii tom: lior_gsge :> n a 't~asel:ald- li ttii; ~Iortgsge is or; a eandominiant
<br />taxit, $arrctwer shall periarm sL' e; $erreuer's oiiligsttnt:s tinder tl,e drelsrtxian ai candamit»um ar master d~rd,
<br />tl~ ?~y-~ws snd rro+:7atians ai the cn•,,+a_,ini+: _:, t snd ranstitue:tt ~;a<utnc-nts.
<br />1. ~ of I.eadea"s Sacuriig, I± Berresuer-istls co uer?t:n=: th< cax-ettsats snd agreements eantainEd in
<br />this ?3art,gagr, ar ii an3• action ar pracei~ding i= raznt..e7red whirl: rosterially at=c•ts Lt:nder'_ interest in the Pmp-
<br />ertg~, including, but not ixrnited ta, e_uinent doa:stn tnrailcnr}, rigic rntarcemsnt. or srrargemcnts ar prareed-
<br />ings ittvtrl•eing a banl;.rupt or dt~•~tient, then Leuarr st l znds°r's ai?tion, upon notire to Bar-mwer, rosy make such
<br />anppaar..+.~p~,,?isburse sorb sntns and taiۥ -ur!r set_a,: ss is r:e4~xsan to protect Leader, interest, including, but
<br />not limited ta, disbu~^..ient of r+es~artaG'r attarnev'> iiY- snd entry upon the Proper}- to make repairs. Ong
<br />amounts disbursed br L~,der pursuam u+ tins paragraph : ,with interest tlterean. sltali become additional indebi-
<br />edt~ of B4ITRw3r secured b?° chic 1lertgage I'nieti Borrower snd Under sgm-e t<-+ aT her tern3s of psgtnent, such
<br />smountashall be papalale upar, na,__r :rant Lttadrr to Bermw•er rxquestatc ps}znent theseai. snd shall 6es:r inter-
<br />eat from t~ date ai disbursa~ttent s: rite me stxtea in the '_~ate un':ea~ psi-ment ai interest at such rate would be
<br />ta~tt.>sR• to spp!icstle law. +~. r}.,iftt t•vent =t;rl: smouni sl:s": lzsr inte.~t st the highest rate permissible bi
<br />s~icabie lag. listiti~ etsntsiaa< in t}:in >vrtigrsTsh >hsll tt^c?mrF• Lender to incur acv espouse ar des an}• net
<br />h~etmde.
<br />_ & Leaden rosy ~e az r_.~..a ?x• ms<Ie restarzsble ens e upon and i,:spe.tiart.` of the Prop-
<br />er3y grtrr~ded the*. Linder -1:all girt= $arts'xner r:attr,• ;:rrt,r to any -urh instertian specit'ying reasansble cause
<br />thsetior related to Lersde: "s intatrst. zn rase Prtrpertc•.
<br />9. Cam. Ttle pmrt~eds of ::.ny swan; ar elsitn ter danss~ =, dizect or eonxq=,;ential, in ronreetiaa
<br />with lacy aaadeatnativn ar other taking ai tie I'ralrerv. ar ;tart therrof, ar for ccavey[rnre in lieu of condemna-
<br />ta~t; ~ hey ~ ~::d ~sll tn, .~:.a to L~;.~er.
<br />is t~ evert at a total tsl:ixtg of tae Pr'~.en~°, t ,e prarec-c7- .1tal3 I,t- applied tc ibe :ums sccurerl br this \~Iort-
<br />t ~ ttte excess, if and-, paid to I3arrawer- lrs the occur of s partial tsbcing ai the Ptnth~rtr, unle_.s Harrower
<br />sHd Lme4et• ethet9vise agree is p'ri#utg. there sltsll tie applied to rim sums secured by chi: \fot-tgsge such propor-
<br />tdom of I~it proaexxls as is equal to tlast. pretpar,aa u-hir!t the amount ui the sums secured by this Mortgage itnae-
<br />dfasely prior to the date of taking bolas to xl:e fair utarket value of the Property izmnediatel}~ prior to the date of
<br />7P~i the balance Iat t~ ~S1?C;a-!CYj€ ~8.id tt? $!~3A9K?3.
<br />If idle Property im abandoned by Harrower or if actor notice lv Lander to Harrower tha[ the condemnor offers
<br />tr>.taake sat award or aet#ae a claim far?antag~. $ormu-er lards to rest::,anci to lender within 30 days of the date
<br />of sstth notice, icnder is authorizcc to caltect nva3 sp}rl}• the proc•eezt_ az Lenders option either to restoration or
<br />r~e6c of the Pmpesty or to the sums setttr~I ire tiria ~Iangage.
<br />Ln~ Condos snd $arraeeer atlterwise agree in writing, any acted= applicatiar, of proceeds to principal .hall
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