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<br />If under paragraph !$ hereof the Property is sold o=.• the Property is oihertc-ise acquired by Lender. Lender
<br />sha}1 apply, no later than immediately prior to the sale of the Propertc m its acquisition by Lender- any Funds
<br />held by Lender at the time of application ss a credit against the sung secured 6}- this \lortgase.
<br />3, Application of Payments. IJniess apnlicablr late provides otherwise, all payments received by Lender
<br />under the tiote sod 1?aragrxphs 1 and 2 Hereof shall be applied 6y Lender ftrst in payment of amounts payable to
<br />Lender by Borrower under paragraph 2 hereof, then to interest payable on the Vote sod on Fut-tn•e Advances, if
<br />any, and then to the principal of the \oie sod to the principal of Future Advani es, if am-.
<br />4. Charges; Liens. Borrower shall psc ail taxes, xssessutettts and other charges, fines and imposit-ions attrib-
<br />utable to the Properly which may attain at priority goer this \inrtgsge, and ground rents, it any, at Lenders
<br />option in the manner provided under paragraph `2 lzereof ar by Borrower utsking payment, tt•hen due, directlc to
<br />the payee thereof. Borrower shall promptly furnish to Lender ail notices of snsomzts due under this paragraph,
<br />and in the event Borrower snail make payment ciirccti}~. Borrotcer shall ]xumptly furnish in Lender receipts evi-
<br />dencing such payments. Borrower shall protuptly discharge any lieu tchirh has priority orer this \lortgsge; pro-
<br />vided, that Borrower shall not he requited to disrissrge any sorb lien sa long as Borrower shall agree in writing to
<br />;he gayunent of the obligation secured Uy such lien in a rtanuer xceeptable to Lender, ar shall in Bond faith contest
<br />such lien by, or deferd enfarcenent of szclt lien in, legal i,roceeding~ which o3?ersie to nrecent rite entareemeat of
<br />the lien nr forfeiture of the Properi.}• or am- ]tart thenv?i.
<br />5. I?~ard Iasurrccee. Borrower sl:ali keep rise insnroventerts Wort' existing or ]sereaiter erected on the Prop-
<br />ertc insured against loc b}• &r_, lsazards r;ciudrd within the term '-extended coverage", :uxi such tithe r hazards as
<br />Lender may require and in such amounts and for =ucls 1+eri via ss Leafier n;ac require: proridcd, that Lender shall
<br />trot z-equirethat the amount ai such coverage exceed+. tl:c snx,unt of t~nveragc required to l,sv the sums secured'by
<br />this Aiort~age.
<br />Tae in=uranre carrier providing the itssu-sr~rr ~ s;i be choset; b~ Borrower ath;ect to appmva! by Lender:
<br />provided, that such splazuc-sl shall not be unreaimai?i~ witlsheld. All premiums ms insursnre policies shill be paid
<br />st Lender's option in the ?nst;ner provided zn,~~er ,+ara~,rtpi: ? isereoi or i,y Borrower wakinE paynseni, when due,
<br />directly to the instarance carrier.
<br />In the event any policy is not renewed on or before ten days of its expiration, fhe Lender, to protect
<br />its int.ereste mss procure irr~urance or. the imprnt'ements, pay the premiums and such sum shall become
<br />immediately due and payable with interest at the rate set forth in said note until paid and shall be
<br />secured by 21tis Mortgage- Failure by Borrower to comply may, at option of Lender, cronstitute a default
<br />tinder the xerurs of this jicrtgage-
<br />~li insurance aalicies and xnewais titr:z-ni s!,ali hr in loco, :ze,~rptald;~ to L+nder and sl+.:,li i::clude a siandard
<br />usartgage claua- in iaear of and in font, screl,t:ilar to Lcndec. Lender shall bare vim right to held the policies sod
<br />renecals zhezpoi, sod HorroR-er shall promptly iucrush to Lender all rene,r ai na?ices and all receipt, of paid pre-
<br />miu>s•c In the event of lax, Bartca•er >hsll glee prompt :wrier u: the uzst:rsnrc carrier sod Lender, sod Lender
<br />map make proof of Ina' if uat made promptly by Borrower.
<br />limes, Lender and Born~eer athern•ise agree ;n writin_, us~ursncc ;+n+ cei:3 shall he applied to restoration nr
<br />relau ai zlae Proper?: damsra~:, provided ,uclz rc:toration nr n:pair is ccunnmiealiy leasiltle sod tLe seruritc ni
<br />this a!arsgsge i; oat thetebc in~asimd. ii ~ue'tt rt~tnrarnn or repair is roc ecanomicaliv feasible or if the security
<br />of t1;is \iortsage ;n-auld be unpaired, use itzsuratsre proceecs slssi! i,e appulted to the _ums secured by this ylartgage.
<br />a-itit the e:cea`, ii env. osid to Barmu-er, ii tl;e Prapetzr is abszidoned h}- Borrower or ii Borrne-er fails tc respond
<br />to Lender within 3t; days niter notice by Lender t~, Borrower that the inst.rsnee carrier nhers to settle s claim for
<br />iasstrance bexsei3ts. Lender auttaar*ed to rallcxt sou apply the. insursuce t}rort~is s? i-ender's ~~niio.=: either to
<br />S'C42s1fatiGfl ar repair ai tae Property nr tr. the ,unrs secured br this ~iangsge.
<br />t;rtle~ Lender and Borraaer athern-ise agree in writing. any such spplirsttos: of pmrccvs to principal snail
<br />aot-ettead arpostpone thedtte date ni floe montlsh- znstaliments rei~rmi to it: F+sragrapl:s 1 sod 2 hereof ar change
<br />the amaant of sttch im2aliments.
<br />Yf under graragrapts 18 boreal the Property is acquired b.• Lender. ail rigi.t• title and interest of $arrota•er in
<br />arNl W any insuraaee paliere~ and ir. and to flee proceeds thenof tta ti:a extrm i+t ti:r loins secu~3 by th jiort-
<br />gage imnkdiateli' prior to sorb safe or srquitinn ~ t•e<ulting itLtn osu=ace t,+ the Pro,,ert~ .---for to the sale or
<br />stxluisitann slsall pass to Lcndec_ `
<br />5. Prs~vation and tanaat:e of Property: Leasebolda: Cat:dominittms. Bnmower s'rall keep tine Prop-
<br />er~p ra good repaiz srd shall not permit or cxarnrxit waste, insp~irnseut ttr aetrrioratinn ni the Pmpem- and shall
<br />txamp}p with ±}~ prnvisinn: of sac lease, ii tai \Iongsge is ar: a lesse.oid- li zisis \longsge is i:n s condominitun
<br />unit, $nnva'er shall periorns all ai Barrawcr's nbligatinns under the declaration of cardaminium ar master deed,
<br />t~ lap-la~•e an,: rr~'...I~°.ions 3i ,I;r t.~tndW~ini,..^, 1, j~rt sn,i v,n:tit,sen* docuntenr.-
<br />9. Paoteetiaa ol3w~d~`s Seevrritq. If Borrower fails to }oeriarn+ the cuvetisrntc aind 3-:rei'mrnt eastained in
<br />this lortgage, tar ii sn action nr pro ceding is camn:encz;i ,t•hi,°i: nsa;er;alit' sfFre+s Lender: inter.-~t it the Ptnp-
<br />erry, iachrding, but not limited ta. entinent dama;v;. itssalvrnrc. rndr enforremrat, ar srrsngemcnrts or pt-neeed-
<br />imgs involving a hanknpt ar decedent, then Lender s? I znder'> aptzoas, upon nntit•t• to Harrower, may make suelz
<br />appe,:~anres, disburse suet sums and zske suci. srtiat: s. s= nerassar~ to nnuert Leader's itatere3t, incltxiing, but
<br />not Iimr~ed tv, disbur•3ement of rta~ar_able sttarner's ice. sr-d entry upon rise Pmpeny to make repairs. Anc
<br />asiourtts uebtarsed by Lender pu._uant to this vsragrsph ; ,with tatere;t ti;etean. shall lxrome additional indebt-
<br />edraess taf Bottfa#ver aer=iced by z~..s 'ilargagc. L'nliv; Hurnwrr and I-under agree to other terns ai payment, such
<br />amounts shall tae payable uIti<in natiie irttn; Lea c:er :a B,~rn}ktrr ti-yt~ing payment t1:er>~f, and s.~,ali mar inser-
<br />aat irr~ t~ -,~`,sh~e ci 3isbsu':ent st tl•.n . v=.r st.a=~ in •?5e \et,•~ „- -._ pu~•~nt „i interest at surit rate r•auld be
<br />emttaarp to applirablr law, in wairls Brent such an,iwnts. =lssil bear interest a? the aigaest rate permissible by
<br />apglirshle lac. tiothirag eantsfnivi in this ;raragrspls sirsl ~gtsrre Lender t.; incur env expense ar do any act
<br />~eunder-
<br />L irogrrrtim. Lender rosy make ar fiau.~ to ix• ansdc rea<onslsir t°t~trie upon and inspections ai the Prop-
<br />ertp; prarided first 3.~ssaler sitaii giro rtvnre* natin ;,r-ic9z tcs ani• .ur-?: insl.ertion sl;ecifyinn reasansble cause
<br />ihaetar related to Lender's imtenrst in tae Propertc.
<br />3, Cgedaa. 'I`tae prec~ds ni :top sward or claim for damages. dtreet or canst~ueritiai, in cottneeiion
<br />cith nap eotrdeaumttiisa ~ .nt~r taking of the Pral+zrty, ar par, riser;-isi, far inr tx;rives°anee ir. lieu of condemna-
<br />t8em, aAt besebp axsignFa3 and shall be paid to Lender.
<br />3n the eseat of a ttxa.i taking of rise Property, tae lararett-i> shah 1K appitcvi to t he sums. cured lay this lSort-
<br />,_ whit fire excess, if any, } to $orr+ower_ In the ai°e:;t of a partial taking of the Property, unless Borrower
<br />and i~r at8erwirt Agree ifl rcritang, there shall be ap}aiitri to rite umw secured by Chic yiot-igage such propor-
<br />t~ at the premeds as is equal t© first praporiian a•aieh floe anwuut of the sums xrured by this '_Mortgage imme-
<br />" ttiatety prate to the date of taking bears to tl-,e fair market cauue of the Prnpeay immediately prior to the date of
<br />fairing, vritlt t19e batasoe of the proceeds laaid to Borrower.
<br />If tAe ~ ~ airand by $orroaer oral afar notirx iac° Lender u; Borrower that iae condemnor offers
<br />to make an a~rttrd or settle a maim ttsr dama~, Borrower Isiis to respond to Lender within 30 days of the date
<br />of asetr ndice, Lender is atrtdtoriaed to collect earl apply rise proe~tlc- at Lender's option eitber to restoratior, or
<br />repair of fire Property or to the soma secured lrp this Mortgage.
<br />Unk~ Lender atad Borrower othet~ise agree in writing, any such application of proceeds to principal :hall
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