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<br />If under paragraph 18 hereof the Property is sold oa• the Yronerty is otherwise acquired by 1.cnder. Lender
<br />shall apply, no later than immediately prior to the sale of the Property or ifs acquisition b}• Lcndt~~r, :ury Fm:ds
<br />held by Lender at the lime of application as a credit agai~a:a the sums secured h~ Chi= AIm~tgage.
<br />3. Agplieatioa of Payments. unless applicahk isw provide= otherwise. all FxLymeuts received by Lender
<br />under the Nola and paragraphs 1 and 2 hereoi shad be applied h}~ Lender first in payment of amounts payable to
<br />Lender by Borrower under parsgraphl hereof, then to interest payable an the \ote and nn Future Advances, if
<br />any, snd then to the principal of the Dote and to the principal of Future Advances, it nny.
<br />4. Gharges; Liens Borrotcer shall pay all lases, assessments snd other charges, fines and impositions attri~-
<br />utable io the Property tr-hich may attain a priority over this Mortgage, and grotuu9 rents, it :uty, at Lender's
<br />~~ option in the manner proyiderl under psragraidt 2 hereof or hy- Borroe•cr making payment, when due, directly to
<br />~ the payee thereof. Harrower shall prom}qtly iurnisi; to Lender a1i notices of amounts due under this paragraph,
<br />and in the event Borrotcer shall make payuunt- direct3y. Barrower shall promptly furnish to Lender receipts evi-
<br />deneing such payments. Borrower shall pmmpt3y discharge any lien tchich has priority over Phis \torigage; pro-
<br />„~ vi:~ed, tl:at• Borrower steal; net be required to discharge am• suc!t lien, ao lot:g as Borrotcer shall sg,-ee in tcriting to
<br />Y.he payment of the obligation mcured by- such lien fat :t manner acceptable is Lender, or steals in good faith contest
<br />such lien ly, or defend enforcement ai surl; lien in, legal proceedings tchich operate to prevent the. enforcement of
<br />the lien or forfeiture of the Property or arty i~ art thereof.
<br />5, H~etrd lasur~ce. Botrower s!ta?1 'seep the iwnracements naw~ existing or hemaiter erected on the Prop-
<br />ertr itisumi aesinst loss hr fire, ?;sranis included within the tcma •`eriended coverage", and such other hazards as
<br />Lender mar requtre and in such sntomtts and for such ,>eriarls ss I.rvtder mac mqutre: luovided, that I.endez shall
<br />3 not require that the anwunt of such Coverage c~ceed tl.;,t amount of cave-age required to pay the soma secured'bv
<br />(leis I4iorigsge.
<br />file insurance carrier ;~raviding the :nsarsare s!aa3i be chosen by Barmwer sui~iec>, to spptuval by Lender:
<br />prorided• flat sus}a approval shat! net i,e tmsYasonahh- tviihheld. All premitmv an insurance pelicacs skull be paid
<br />st Lenders optior. ir, ti:e manner pmsided a^;tr ysr,.,:rvtph `> hereoi ar by $arrawer mskinet payment, when due.
<br />directly to the insurance carrier.
<br />>n the event any po&cy i, not renewed or. ar before ten day. of its expiration, the Lender, to protect
<br />its intrrest, may practrre in_eterance an the improeernents, pay the premiums and such sum shall become
<br />immediately due and parable with intet~st at the m#e set [orth in said note until paid and shall be
<br />sec'urod b~• this Slortgage. Faiitttr br Barmwer to comply may, ai option of Lender, con: titute a default
<br />tindrr the terms of fhi+ !liorfgage.
<br />All ir.=ursnee policies and rznewals tbennf sl:.~i in• in ions acceptable to Iznder and shall inchtde a =tandard
<br />taongage rlaust• ir. iavar of snd in farts atreptatu,e to Lender. lender =hall lace the right to bald the paticies and
<br />rrreea•aLt ;hereoi, and Borraaer alas;; promptly furnish to Ixnder all renewal natives and all receipts of paid pre-
<br />mit„^c In the went cf 3oss. Borrau-er •;-.all give !azampt notice to flee insuranre carrier snd Lender, and Lander
<br />aeay make prom of ;aa ii sat made prampth- fay Barmn•er.
<br />T;rti~ Lender and Bornawer o*_I;er~ise sgzc-r :. .cr*--ring. insurance proceeds shall kae applied to ruioration or
<br />repair of Ile Prapersr damsgrd. pmt-idtd sur^ nsta:-stian ar repair is economically feasible snd the security of
<br />the h4ortgsge is sat tlerebv impaired. I' sac's: restozstion r:r repair is not econamica3iy feasible or ii the security
<br />a6 this _iforigsge would be impaired, the rrauraaace prateeds stall be applied fo the sums secured by this \iart;age,
<br />rich ile ex.~s, if any, pail to Barmy°er. I ~3x Pra}krv .: a'uandan~ lay Barmwer ar if Barmtcer fails to t~apond
<br />to Lera3et rithin 3U days sft2r notice by I.cnder to $arrower that the insuranm carrier offers to set*.le s claim for
<br />insausate benefits, Lender is sutlaructi to cal!zrt and apply the insurance pm.eeds st Iander's optior: either io
<br />restotatiaa or repair of tle Propeny ar to floe -ur.:s secured by this \lartgage.
<br />1',al~s bender sud Borrower mleruise agree ir. ,criting, any site? application of prnteerfs io printipal shalt
<br />not rstmd +or posttaone flee due date of the mon2hlc installments referred to in nsragnapls I snd 2 hereof or change
<br />tLe smo2mt of stxl +na#9lttnerfts.
<br />tf i@dt7 parsgrs;el 18 lereof the Ptapert}• is acquired br 1 ender, all right, title snd iatertist of Borrower in
<br />and wane insurante poiaa~ snd in and t.a tlae proceed: thereof +to the eszetat of the Bums st.un~3 br this 1lort-
<br />g~ imrrxediately prior to roll ~tle or srquisttan ~ resulting from datuage to the Propene prier to the sale or
<br />srquit~aat shall pass to Lrm.'er.
<br />S Aw~rsa~m ~ of Property: i.easeholda: Candorainitnns. Barmwer shall keen the Prop-
<br />~'ty is good repair anti shall not pe.=zrtit or rarnmit waste, impairment, ar deteriazstion of the Property and shall
<br />S wi;u tom' }ra.is:~-s :~f a'ir ;asst. i; -l'~ \,~;;;~.,a' ss tin a .rs~Itald. d; t hi= 11crEagr i; ar, s :.an.;an',irittm
<br />unit, Btanorcer ahal', peria*m all of Bozraa•er oUiigatians under the de<^lanttion of condominium ar master deed,
<br />the b~ laws and segu;ati of t~ iYZndaminiurta proaect and canstitueatt daruments.
<br />9. of iwadet'a Saeauity. l i Borrower fsrls to }aeriarn: tle covenant, and agreements contained in
<br />t]eis ~ottga;;e,or if sac astinn ar groxeeding re tamntene~ whstl~ matenalh• atlects lender's interest is the Prop-
<br />etty, inelutiing, i>at not ?imated to, rrr.7itnesLt at*mytt:. m:alreney, ea:3e i•niarrentrnt, ar arrangements or pwcerd-
<br />ittea mvalv~ng a bankrupt or deendesst, flea Lender st I_rnder opiian, a}wn notice to Barmwer, may make such
<br />*•~, disbars such auras and take sutle srtiort as is nr~°easan• to protect Lender ~ intertrGt, indttcling, but
<br />~ limited ia, disbtttraeaeent of reasonable sttarney's fps and entrc upon t3:a* Property to make repairs. Any
<br />amotmte dffiI,ttrtsad bg Leader pursusyt to ibis par•:agrsp}::. with inier+e;t #lerrart, shall letoinc additional indebt-
<br />of Piz sszu2~d fay this ~,;xts{;s~. 1'r,•c:-- Borzau-er and L2rder sb~~ to ether terms of payment, such
<br />am~x shall be parable upon noti;.x fn~m Lender era Barmwer requcsiing payment thereof, and shall bear intes-
<br />e~, trap t~ dale ai disbntsement at the rate tstet in the \ote tmltss psyntent of interest at such rate would be
<br />onatxazy to applicable Inw, in wlich event suelr amount:. shall hear interest at the highest rate permissible by
<br />Isar. \otlitag tontsi~d in th*_= lasrrgraph : sltsl= require Lender to incur any expense or do am act
<br />1>eaer
<br />lal lxader rosy tnale or cause to Ix• made rr~tmnsh3c entries upon and inspections of the Pmp-
<br />erty, pms'ideri tlai Lender ~asli give Borramer rmritr- y+ttia~ Ia any surly in=periian slterifring teasonahte cause
<br />t;aaeft+r relsteii to Larrder's iaterrst in the Pzasfeny°.
<br />!. Gaod~iaao. 1?lae paatx:eds ai am awa*d or claim far damages, direct or consequential, in cotmectian
<br />tatter nay ffi ah~• taking of the Pralr~ertr, ar hart thereof, or for conveyance in lieu of eondemna-
<br />fem, nee )x~p > and shat be paid to Leirdez.
<br />Ta t~ scant of a ttual taking o3 the Property, tle Irroe>"e d;• shall lye applied to ihr• sums :secured by this ?4iort-
<br />s LhG gteeas, if any, paid to Barrow°er. In the event of a partial taking of tine Property, unlesa Borrower
<br />aad'i.®tcr i~ertviae agree in writing. Here slutll he applied to the aunts secured by stela lf. rtgage such pmpor-
<br />~ the }trt+2reetfc ~ ffi agnal to that pregort.ianr w}aicl the atnouat of the slams aecured by this Mortgage imme-
<br />dia~ 't$ the date of taking bears is tle fair nrarkPt value at the Property immediately grior io the date of
<br />rakm$, tgt~t ti3e b8,tR9oe t~ tl~ proceeds earl to Barrow er.
<br />if t~ Pr+y is aged by Harrower or if after notice he Lender to Borrotcer that the condemnor offers
<br />to make as aavacd or settle a e}aim far damage, 1'jOrroe°er fail; to respond to Lender nitiain 30 days of the date
<br />of tatelr mtace, Lerxter is anthoriaed to Collett and apply tle pmccgds at Lender's option either to restoration or
<br />; a[ t3ae Property tat t,o tle sums secured by ibis lfartgsge.
<br />Usleas Lesley snd Borrower othertise agree in tariting, any arch application of proceeds to principal shy!!
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