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<br />If under paragraph IS hereof the Property is sold or the Propert}• is otherwise acquired by Lender, Lender
<br />shalt apply, no later than immediately prier to rite sale of rho Propertt or its scquisition by Lender.:nny Runde
<br />held b}° Lender at the time of application as a credit against the sums secured ht- this J[oregage.
<br />3. kppIication of Payments. E?nle~ spplicablc lau provides o,heru-ise, all pa}-menu rer~iced by Lender
<br />under t-he Note and psragraphs 1 and '2 hereof shall be applied h~ bender tic: t iu ha;-ment of smowtts payable to
<br />Under cy Borrower under psragrs}ah 2 hereof, rhea to interest l,arablr on the Scxe sad ou Fuiurr advances, if
<br />any, and then to the principal of the Notc and to the principal of Put-arc Adt:mrce, if any.
<br />4 Chargesr Liens. Borrower shall }?ay all tsxes, awe:meats :rod other charges. fines and impositions attrib-
<br />utable to the Property which may attain a prim•itp Deer. this \lortgage, and groan, rent:, ii any, st Lender's
<br />,prior in the manner provided under paragraph ° 6rrevf ur isc Borrower making psyrnent, :when due; directly to
<br />F1 the payee Thereof. Borrower s!7ait prontutly Tarnish to Lender all notices of amounts due under this paragraph,
<br />and in the event Borrower shall maize pavntent directly. Borrower shall promptly Curnish to Lender receipts evi-
<br />d~neing such nsyments. Borrower shall promptly discharge anti- lien which has priority over this Mortgage; pro-
<br />viued, that Borrower shall not be regmred to disi~iaarge any such lien so long as Borroter shall agree in writing fo
<br />t1:e payment ai the obligation secured by such lien in a manner acre}aa61e to Lender, or shall in good faith contest
<br />such lien by, or defend enforcement of suelr lien in. legs] hroceedlnes which operate. tv present the enforcement. of
<br />the lien ar forfeiture of the Property or say part t i:ereai.
<br />~' S, i`Iaatsd ]nsurmsce- Harrower shall keen tltx: improtemenis nau existing ar hetrsfter erected on the Pron-
<br />esty insured sgainst loo 6c fire, hszards included within the term --e~tet:ded coverage", and such aiher hazards as
<br />Lender may require and itt such stnounts and tar such }>eriais :ts Lender may require: provided. that Lender shall
<br />net zcquiiti that the amount of such ceterage evened that asour,t of rnversge required to pay the scans secured by
<br />this 3eiortgsge.
<br />The insurance carrier providing the insurance shall be chosen '.» Borrower subject io approxal b}• Lender;
<br />provided, z>^.at such sppracai shall net be tu7re~anabic withheld-Ail nremiuws on insurance policies shall he paid
<br />st Lenders option in the manner provided ruder narsra}sh '? hereof or by Borrower tusking psyntent, when due,
<br />direeidv to the insurance csrrer-
<br />In the event any policy not renewed or. or before ten days of its expiration, the Lender, to protect
<br />its interest, may praivre insurance on the im}xrovements, pay the premiums and such sttm shall become
<br />ituttaediately due and payable u-iih interest at the rate set forth in said pate until paid and shall be
<br />~~~ _hi- the 3G~rtrnne Fsiix~rg by Lixlri'flli'Fr in ~n~mrilt mat,•_ ar npfinn ~f Ir±nda__r, rnn~ciih~te a default
<br />trader thefieamsm of this \iortgage.
<br />ill instrrsnce pahcies and tYnewals thzm,i .... li be it: Tana acccpf;rblc to I-eurier and she}1 intrude a standarl
<br />:nattgage cisuse i3: laver of and frt fvrm acne, table tv Lender- Lendi-r .I~sil hate tl:~• right to bald the ltolicie_ and
<br />tenewa'= thereof, snd Harrower shall promptly Iurnish to Lender ail nnea-al notices and all receipts of paid pre-
<br />miums. In the ct:nt es loss. Barnwer shah gate t:rotn}~t notice to rite insursttee causer and Lender, and Lender
<br />zany tnake proof of low ii not msde prnmptiv by Borrower.
<br />ttalrss Leoder sad Harrower atltern'i_~ spree in writing. i=.tsur•ance proceeds =hall 6e applied to restoration or
<br />repair ai the I'ropztt}- dsmsged, prarided such restar_tiar: ~~. repair is ecananticsliy fcssibie snd the security of
<br />ibis ~iattgage is not thereby is:psimi. Ii such rtistvratian yr repair is net ecottvtnicsilr fessiltle ar ii the security
<br />of ibis Mortgage would he impaired, rite xa=urance } .roceeds sisal] i,c applied to thr cams secured by ibis \IoMgsge,
<br />with the extxss, if ann. paid to Harrower. ii the Yro}>pny is si:smioned by Horror er ur if Bortvwer fails to t~pond
<br />ter Lender uithia 3fi days alter notice by Leader to Born~uer that rite insurance carrier offer: to settle a claim for
<br />insstraneP benefits, Lender is satharired to collect sttd spph- rite insurance pracrnis at Lender', option either to
<br />tsvto~tetion er repair of the Property ar tv the sums secured lr this \iongsge.
<br />IInless L~der and Borrower othencise sgrc • in writing, say such application of }•rrkeeds is principal shall
<br />rat extent or postpoae the due date of the inantltly in>tsllmx rats referred to in psragraplis 1 snd ~ Itereoi or c2range
<br />the atftouat of such installments.
<br />ii under paragraph is bete. f the 7'napenc is acqui-Yd be Lender, all right; title and iniernt of $orrower w
<br />and tn1 any inst;tanre paliries and in sn = to the arx~:s tl;ereaf fro titr=,tent of the :.anal secure i by this iart-
<br />gagr immediately };rior to such salt or uryuisizian ~ resuhing ir;un :iamagc w the Pro}tzt=r prix: w the ~.le or
<br />sequi®i5on sixall pass t4 Leader.
<br />6 Ps+e»r.aiia~a ~rl Mramisnanar of Property; Letaeisolds Cfsndomiaitttas. Harrower shall keep the Prop-
<br />etty in goad tetsir and shall not pettnit or evmmit waste, impsirntent. u'r de~rrioratian ai z.he Property and shall
<br />aom}s%r sritir tic provisions of env lease- if t::is Sfort.:sge is an a iessehaid. ii this iivrtgage is an s condominium
<br />unit, Borrower shall p:rtarna air of Batrawer's obligation. raider zee derlaratian of eandaminium ar master deed,
<br />the ~-laws a:~ tegu:ations of the enndaminiurt },reject snd constituent dacumenta
<br />7. Prrs~ectiaa of Lr's Saeu:ity. Ii Barrauer Tails tv periarm the rnvensnts and agreements caniained in
<br />this ~iarigi-ge, ar ii any artier or c~tocc~x~dne ~ camnterrx~': whirls tnaterralh- affects L~,sder•s interest in the Prap-
<br />erty, including, but rat lin7itxx: ta, en7inent dtutaain. iusaitrnry, codx° rnfarrement, ar arrangements or proceed-
<br />in~ involving a bankrupt ar decedent, then Lender at l.ender'> cptinn, upnu naticr to $u.*rowet, may make such
<br />apprazanecs, disburse sue% sutras and take sue:, setiat. s, i. neee-nary w pnstvx-t Lender's int:eren-t, including, but
<br />roc Iizniieai try, disbursemert of reaoasul< attorne^. '- ` x. snd ertn- upvn tan Pmpeny to make repairs. any
<br />amounts disbaxsad br Lander purst.e..:- to this ~•mragrxp!~ . niti; interest *.hereon. ;17,11 Income additional indebt-
<br />edness of Borrowe* sec :red tss this .i.;rgsge- i'nieas i3o^awer a.,,: Lender agrt-z w eti:er tera7s of payttreni, such
<br />amounts shall he payable upon aot~ce irtti:• Lett~ier to Sorrourr reauastitt; payment t%:ereoi, snd shall bear inter-
<br />est irtffit rite date of disUwsemert at thr rate ststeci it, ttte ~:ote unless psymen=, ai intetvst at such rate a•auld be
<br />tmtrate to applicable Tar. in which event su!^}: amavnts elsl? gear :rterest sz tlx. highest rate permissible 6y
<br />applitsitk law. \otlting evrtsinad ir. this psragranl: ~ aai7 rt,}uim I.en.,der to it:cur any expense or dv any act
<br />he~dtrrdeq.
<br />8. trader rtav t:tsi:e or race tv ire n7s,ir• reas,;nair?c rntrie> upc.n nn~t inspection= of the Prop-
<br />erty, provided that Lender sftail give $otsower notice lxriar to arty -utl; ir,.srertu,^ .peciiring ressanable cause
<br />tbereaar telateci to Lender's interest in the Prapart v
<br />§. Caodasmna#im. The proceeds of say award or claim for damages, direct ar consequential; in connection
<br />'frith sag e+underr..~^tm ar ortlter taking ai the Pra}ie»y, or f=art themai, ar for eanteyanre in lieu of condemna-
<br />iacu, are hereby assigned and shalt tae paid to Lender•-
<br />In t}se event o3 a itstal taking of rice Property, the proceed s1ra11 tx a}>plied to the sum= secured by this yfort-
<br />gage, wii3t tht ; i# any, paid t-0 $ornoa-t r. in the event of a partial taking of the Propert_: , unless Borrower
<br />atxl Lt~dat• ts*~rtr+friae agree in vrxitiag, there s1;a13 be applied to t1tP auras secured by thi_ 3iortgage such propor-
<br />'tits, tai #~ praceeda as ~ rsqual to that proparion a°hieh the anraunt of the sum; eeeured by this Mortgage imme-
<br />diately prior to tae date of takitrg beats to ire fair market valve of the Property immediately prior to the date of
<br />tit<fuf~, tfriLlt_the Iatlassee of 2lre grroc~eais paid Yo Harrower.
<br />I# tie Ptstpetty is aisandamed by $orma•er nr if after notice by Lender to Borrower that the condemnor o6ers
<br />t3s ttrske sit atWS3d ~ setae a claim #or damages, Harrower fails to respond to Leader within 3ff days of the date
<br />a# such ttoiice. Lender is auihotitced to collect and apply the proceed= at Ixnder's option either to restoration or
<br />repair of tine Pmpaty ar io the sums seeure=i by ibis \f acreage.
<br />Uniiaes Lender and Borrower otherwise a~ in writing, any such application of proceeds to principal shalt
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