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<br />Zf under paragraph iS hereof the Property is sold o+ the Property is otherwise acquired b}- Lca;der. Lender
<br />shall apply, na later Chao immediately prior to the vela of the Properq or its ucquisitian by Lci~der.:w}~ funds
<br />held 6y Lender at the time of application as a credit against the stuns secured by this ltortgagr_
<br />3. Application of Payments. L!nless applicable late provides athcrwisc., all papments received be Lender
<br />under the tote and paragraphs I and 2 hereof shsii he applied by Lcnde; first in paymcr.t of nuiounts payable to
<br />Lender by Borrower under paragraph 2 hereai, then to interest payable on the tiotc sod na Future :Aclyanees, if
<br />an}'. and then to the principal of the late and to the la-iuc ipal of 'uture :ldcnnces, it any.
<br />4. Charges: Liens. Borrower shall pad- s!I taxes, ascesgmentS and other charges. fines and impositions attrih-
<br />utsble to the Property which may at.tsin a hrxtrity m•cr this \lortgagc, mtci grauud rents, if uny, st Lender's
<br />option in the manner provided under psragcapi: `? h~_reof or h}• Borrower making payment. ;then due. directly to
<br />the gsyee thereof. Borrower shall promptly furuis6 a Lender alI latices of amounts due ender this paragraph,
<br />,.~ snd in the event Borxawer shall make payment airecth, Borrower shall pramptl~• furnish to Lender receipts eri-
<br />,;eneing such pati•menis. Borrower shsii prows;,t1~- ciischsr~~ and- lieu tt-hich has priority ot•cr this \(artgage; pro-
<br />'~ vi4^.d, thatBortrower shall not be rertuimd to <iichar,e arty sue:; lien sa long a, Borrower shah agree in writing to
<br />the payment of the obligation securer, h}• Bach !ie:: in s mamser acceptable to Lender, or shall in good faith contest
<br />such lie.^. by, ar defend eniorcentent. of such lien in. legsi proceedings tt°hich operate to prevent the enForce:nent of
<br />the lien ar foziEiture ai the Prapert}• nr am- ;cart thereof.
<br />5. Hard Insurance. Borraw•er anal! keep the ,nirrot-ements Wort- exssitug ar hereafter erected on the Prop-
<br />~ arty insured against lass by ere, hssards inciuded witisist the term "extended coverage", and such other hazards as
<br />~ Lendertnsc require snd in such amount, and far such Jtericis ;:s Linder snag require; proyid~i• that Lender shalt
<br />not require ihsi Ilse amount of such coverage e~cee:i t?fat :;mount of royeragc rer?aired to pa}• the sums secured'b~
<br />irds ~iar#gage.
<br />The insurance rsrrier yraviding ?lie insurance shelf he chosen f,~ Barrower st;hject to approval h}- Lender:
<br />provided, thsi suds approval sltsli net be mtteasanably twithire(d..all rremiums ort insurance policies shall be paid
<br />st Lenders option in the rtanner prarided tr^.der r :r:;:ir:.pi: 2 iiereoi or h~- Barrow-~r staking pa}•riter;t, when due,
<br />dir!eeity to the insurance rsrrier.
<br />Iu Cite event any policy is not renewed on ar before ten days of its expiration, the Lender, to protect
<br />ats inta~.t, may procure insurance an the improvements, pay the premiums and such sum sttali became
<br />immediately due and payable with interest at the rate set forth in said note until paid and shall be
<br />zectrred try thin 'tiort~a~e. Fa±Itrre by Barrower to oomph' may, at option of Lender, constitute a default
<br />under the terms ai this 'tiortgage.
<br />All i~=urenre ~lirie; snd renewals t]:ereW=f shs'-1 ~ttr in form .,.ccy;:ai,Jc -o Lc-uder :attd sha!1 inciude~ a stztndard
<br />nxtrtea;re clause m favor of snd m for;n sereptahie to Lender. Lx•n.<ti•r ~1ia?i bare the right to kohl the pa!icies sad
<br />rerrea-sis tisereai, snd Barroner s?asii praruptly furnish to Lrncier ali reneccsl ttatices and all receipt: of paid pre-
<br />nzit:^'t- s. Ia the er~nt iii Toss. Borrow-<: ;h:tii tine j~=ont,u neti:c to the i..:.trsr.:c rsrrier and I_rnrier, and Iznder
<br />rnag ^zake proof ai lase if not made pn~ntp*,ly icy Barrower.
<br />Unless Lender snd Barraw•er athercc-ise sgrze in :yrixiaL, ia-ursncr proceeds shelf he applied za restoraiion or
<br />repair of t?ie Property ,istnaac, prayi+ied svci; re-?ersrii3n et reoair is econotuic slh• :craft+ie .;rri the securiti• ai
<br />tliL Riortga.ge is rat tlter=b}' impsirt-•d. If sue.,. _~ tar~tiov: o:' repair ;_ not :~conor.,t.ai'.c iessihie or it the security
<br />of this 'aiartgage would 'oe irnp aired, the insurzr,.•c• 1roreeds s:.sll i~~ applied to the runts ;ecum3 h~• this \-far:gage,
<br />whiz tiszzxcess, if xiny, paid t;, Barrower- l- ,he Pra}?erty is ai>andonec] icy ticrraw-er ar ii Barrower fail: to respond
<br />to Lender wit3rin 3t1 days suer notice by Lancer to Bar,•vw'er that the insurance carrier offer, to settle a claim for
<br />insurance betteiats, Under is authorized to caliect snd strpiy the insurance prvreeds at Lender'; option either to
<br />testQr-atian ar repair of the Praixrty or to tire. sums secured Ly this \longage.
<br />Unle~ Landes and Borrower nthenrise sgrzr in writing, any sue,. spphratiaa of proceeds to principal shall
<br />nos e=iend ar postpone the due date ai the manthiy instaiisnents miermi to in paragtaptts I and ? hereof ar change
<br />the s~tttt. of such instalLroents.
<br />if under psragray!t ifi hereai the Property is required by Lender. s:l right, title and interest of Barrower in
<br />sea: tasnc i~=u:snnt~ nalicic; xnd in sn~: to *?:e pti,cecw;s ih~rroi tto thc• eitent ai the _unt. ~urt~-: b>.• Chi 31ort-
<br />GsSe im+rsa:;a2el}- pries to suck sale ar arquiition! rY;u'tirtg front damage to the Prope .y prior to the sale or
<br />sr~tiivat~n shall pose to Lenucs.
<br />fi. ~ mui Maaae a# Property: Leasrhalda: Coadomiaiums. Borrower shai! keep the Prap-
<br />en3` in good re,~air snd s,~all eat Iszrnait or irommit waste, im,ssirnicnt. or .letenorstiun of =.ho Propem- ..,;d shall
<br />ix~lt'~Ttli t`r.•r ~: vi ;~an5- ai ar~S` iEaSr, _, _ ,. , c;a;_r i; , -- i5 i}i i~ `iari~a~,c' io Jn vnua.Tainr'vtf'i
<br />unit, ~mreaveez sha?I Imo.;ann si of Barn+werfs o!igst::-r;s`rnetr th.: ~ry-israt;an a candantinium ar maw-ter deed.
<br />the ~-htx•s and regu;atian: - the ran::cn:.n-tw:: _ r~ir , .....y. stir ._.., aac::mr..._-
<br />T. PrWectian of Lata3~"a Sec~xrAg. li Borrower fa.i ~• *+ }trrforrs; tltr . ayenanta :snd agreentetits :omaini'xl in
<br />this'~iortgsgc.ar ii any action or ;an'x+m•drng t_ ~ancoet;,•r.i tthri: _;i„rttt•iaiir ane;t; Lender's interest in the Prop-
<br />erty, including, t,ut zsat Iimiteti t:,- s•.:i2nrnt rlcatix?t.. _ -_,t-eery. ~c><ty- ~~niarr.=anw.,t. ur :srrangcments or praceed-
<br />itr~s any-altering s hankra,tt ar de.^~edent, trey±: L_nder at-•Lrrs::tr'> ortiar,, up<;n notice to Barrower, ma}• [uake such
<br />aranca~, diabv:~se mac=: 4:ms snd tslte sus': srttar::s; s nec:san ?o pratr•t Lenders interest, including, but
<br />not lirsiurf t@, disbttr~mrnt of *na(:i< s:t~szt.ev'- ic'ri and <rtr~- uga~n the Propene to make repairs. am
<br />answutta diaburaxi Dy Larder puru4-:t ro ts:is },aragt•s;sl::. with intx:~rsa thetres. snail l?ecantc' sdditianal indebt-
<br />ednrs>3 of Btx~rrer secu.~ iz~` tk~is ,iartgs~• i aleti h'at=i~cr snd Leader agree rn3 other tors; ai payrricnt, such
<br />+~s*<ta.~sl ~ parable unan nettire iron; Lc_:der to Barrower requesting paywent therea=.", and shah bear inter-
<br />ra4 frtma the date ai~disltursecterrt at tlir rate _tated to the tiote ur'ess (:ayment of it:tea•~t at such rate would br
<br />cnatt:ar'v to app3iaata~ lore, in aiaieh event suet:..•:a*aztt~ she?} hear interest at the highest rate pemtiasible by
<br />Viable Iaw. tiatiautg eontsinej in ttss ;tus~rapii ;shah mc}utrc• Lender to incur am expense ar do an}• act
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<br />E. Letxaer rrtay utake or reuse to IFC mane mawnable entries upon any" inspections of the Prop-
<br />ertg, grcavided tltai Leader rha31 y-r B„-rrax•er noti.^c l,rior tartay ;urn in_cpeetion sperifti•ing reasonahie reuse
<br />thers#~• related va 7~ndez'_= irtteroY. in tFie Prctiterty-
<br />S. trmd~atioo. Tote prvreeds of any av~ard ar claim far damages, direct or consequential. in connection
<br />math aztg aundemsataon -or other taking of tht Ptzc(tert.•, er l;ast tl;ereoi, ar for canveyanrr in lieu of ccrndentna-
<br />~+, s~ hereby assigned ash shsii lie paasi to Lender.
<br />in the event of a total taking at the Property, the (:soreetl. shall t,e app?iii to the rums secured by this \iort-
<br />gage, wit~it the eiae8e, B ang, paid za Bazrx+w•er. In Cite event of a partial taking ai the Propeny. unless Borrower
<br />sad I pthssaae agree is aritirtg, ilt~e .hall 6e applied m ?he suns secured by this \iortgage such propor-
<br />tip~ ~ t3at prods as 3s egtmi is that proportina ~thicft '.ue amount of the sums secured he this `.iortgage imme-
<br />daat~y pticT tit the date of taking bears to the fair zuarket o•aiue of the Property immediatels• prior to the date of
<br />t3lciag, tri~a ~ balance ~ t~ procseds paid tit Barrower,
<br />If ~ Prapexf~ is shandoatai by Borrower or if after notice lac Lender to Barrower that the condemnor offers
<br />w make sn award ar acetic s rlaam for datnag~, Bormw•er fails to respond to Lender within 30 days of the date
<br />of wzett notficx, Larder i$ atrthoraeri [o rollert and apply the proreed~ at Lender ~ aptian either to restoration or
<br />tv~air of the Prapertp or to the sums secur~esi be this \iortgage.
<br />Unless Lender and Borrower otheririse agree in writing, any such application of prceeeds to principal shall
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