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<br />If tinder paragraph 18 hereof the Pmpert.y is sold or the Property is otherwise acquired by Lender, Lender
<br />shall sppl~, no later than immediately lirior to the sale of thr. Property or its acquisitior. by Lender, anp Funds
<br />held by Lender at fhe time of application as a credit against flte sums secured by dtis Aortgage.
<br />3: Application of Payments. Unless spplicabic l;tw provides otherwise, all payments received by Lender
<br />under the Note and paragraphs 1 and Y hereof shall he applied h}- bender first in payment of amounts payable to
<br />:.ender by Barrower under paragraph 2 hereof, titer to interest. payable on the Notc and on Future Advances, if
<br />any, and then to the principal of the Note and to the lir}ncipal of Future Advances, if any-.
<br />4 Chmges; Liens. Borrower shall pap all taxes, assessments and other charges, tines and impositions attrib-
<br />utable to the Property which map attain a priority aver this Mortgage, and ground rents, it" any, at Lender's
<br />option in the manner provided under paragraph ?hereof or by Burrower making payment, +vhen due, directly to
<br />the payee thereof- Borrower shall pmmpth- furnisl: to Lender all notices of amounts due under this paragraph.
<br />and in the event Borrower sltali makr. psyn:ent. dirk*.ly; Borrower shall prompt.ip furnish to Lender receipts evi-
<br />~ dancing sueir payments- Barrower shall l~rmptip discl;aree any tier. which has priority over this Mortgage; pro-
<br />vided, that $orrowar shad not br regmred to dischargr any such lien so ]ong ss Borrower shall agree in writing to
<br />the payment of the obligation secured by cueIt lien ut :t manner acceptable to Lender, or shall in good taith contest
<br />such lieu by, or defend enforcement. of such lien in, legal proceedings which operate [o prevent the enforcement of
<br />the lien or forfeiture of the Propertc or am• hart thereof.
<br />~ 5. Hard Insurance. $arrower shah keep the improvements non- existing or hereafter erected on the Prop-
<br />(~ ertr insured against loss by fire, hazards included within 'the term 'extended coverage", and sudt other hazards as
<br />Lender may require and ir, such atuounts and for such periods as Lender msv require; provided, that Lender shall
<br />not require that the amount of such coverage exceed titer smowat of coverage t•equired to pay the sums seeured'by
<br />ihis'_13ortgage-
<br />The insurance carrier providing fire insurance shall be chosen by- Barrower subject to approval by Lender;
<br />provided, that. such approval shall nos be tu:*easouahi}• withheld. X11 premiums on insurance policies shall be paid
<br />at Lender's option in ilia manner provided tr-tder paragraph _~ hereof or lay Borrower making psymeni, when due,
<br />direrU}- to the insurance carver-
<br />In the event nay policy is not renewed on or before tan days of its aspiration, the Lender, to protect
<br />its interest, may procure insurance on the improvements, pay the premiums and such sum shall become
<br />imtediately due and payable with interest at the rate set forth in said note until paid and shall be
<br />sec-aced fay this iiorigage. raiiure b}• i'setroa-er io campiy may, at option of Lander, constitute a default
<br />under the Terms of this A3ortgage-
<br />AIl itr3vranre policies and renewals thereat shall ix in tarn arceptsble. to lender tmi3 shall include s standard
<br />aauitgagt rlattsa in facer of sad in iurtn areeptaL-la to Lrndrr. 1_ender shall have the right to bald the policies and
<br />renewals thereni, and Baravwer _ ?as31 promptly inr-aish to bender all renewal notices and all receipts at paid pre-
<br />m:ao,r,r In the event of loss. Borrower shall ~ ve l;rompt notice to tlar insurance carrier and Lender, and Lender
<br />ttasy make proof of Sass ii rat shade promptly !ar $orrower
<br />IInieas Lender and Borrower otha,-rise a,~ean writing, insurance proceeds shall be applied to restoration or
<br />rY-pair ai the Property datnsged- provided su.h restoration ar repair crananxically ieasiblr and tba security of
<br />t3[is ?Soxt~ge is Hai thereby impaired. Ii such restar:xtian or repair is rat economirslh• feasible or if the security
<br />ai ahis _T+4esigagt would be impaired. tl}r insurancr proceeds sha31 lm applied to the sums secured lap this Mortgage,
<br />with tna ezra~, ii any, paid to Borrower. Ii ilia Propem° is abandoned i,p Borrower or if Borrower fails to respond
<br />ut Leader,R-ithia 3(1 day= sitar native Sy Lender to Barrower that the insurance carrier offers to settle a claim for
<br />iswrraace benefits, Leader is authorized is collect and apply the instrrsnce proec-ads at Lender's option aiiher to
<br />reatarataoa or repair ai the Pr»periy ur to the sums serutrd by this Margage.
<br />Criers; Landes and Borxacrrr avx' ern-ise agree in tcriting, any such appliraiian ai proceeds to principal shall
<br />aid eactend car peoapone tier due datr of #iae tnonthlp installments referred to in paragraph, 1 and `?rereoi nr change
<br />the aanaarat, of such iastalimen#s.
<br />Ii tr~l~ paragtapi: 18 hereof the Property is acquired by Lender, all right, title and interest of $otmwer in
<br />asd fA axe insuran~r politics atad in and to tl,< prareeds the^eof t to the extrnt of the auras srcured be this ~fort-
<br />gaga immediately ,prior to such ::ale ar arquitian z resulting irate dama~ to the Prape:t}- prior to the sale nr
<br />at>q~, aball pass rte Lender.
<br />~ ~ woe ~ ~p~Y~ ~: Cas3cmiaittma. Born~wer shall keep the Prop-
<br />erty m gwd repair -anti shall not permit c,r camtnit u•s>;a, impsirntent, ar drteriarstion of the Property and shall
<br />eomapty tritia the praxssio£t.,= ai any lea<+r, ti tlai liar*~see is ar: s lr:srl,ald. if this linrt.ga3e is an s condominium
<br />uei# ifWatrnrr shall perform all ei $arroR-er ~ alxligstians under ti:: dc~lsratian of ~~andnnxiaium os master deed,
<br />the by-las[~ acrd :rgttlatian> of the eondarntn;une nruject sn~i constiturn: docurarrtu-
<br />7. Fiolectionotlwnder"s Saeurity. If Burn"+wrr fail; to ;,rrfarm tiar t•rvenants and agreements contained in
<br />t3ais ~tut~age, ar ii any action or prat+ezding is c~taarurnced a hie l-: tuste*iaPh• stirct_ I.etader's interest in the Prop-
<br />ar~g, i~}tadieg, lwrt not ltmiied ta, enxinrn*. damsrr,, v:~idvrt:ey. c.xie rniarcrtnrnt, ur arrnngrmrnts or praceed-
<br />itge inymiving a bankrupt or det~adent, then Leader at Lender ~ nnttau, alaor; nacre to $nmawer, may make such
<br />appearanrts, dist+ut•~ sttela sunxs and take surly artier ~, is necessan• to 'protect Lender's interea-t, including, but
<br />not ttad to, disbursement of reasonable attarnep's ice> and ent.n• ulwn =. hr Pmpe^,• to trrske repairs- Any
<br />amts disbassed b}~ Leueier pursusaf to this paragrstal: 7, frith intera?at tirereaa, shall heroine additiottal iadebt-
<br />e cif $turo~ctr sscuzcxi hr dais Moxtgsge. Unl~ Borronrs and Lender agree to ether trims of pagment, such
<br />aaraurtts shall br payable tx~an entice front Lender to $ann[ er :questing psyrrteat ihatnoi, and shall bear inter-
<br />esc frtft9 t}se dale of dishtarsement at ,?:e rate stat~i is the tiace unless payment of interest at such rate would be
<br />~tAarY to .slrplicahla law, in >rriaict: ev~•nt wrh anxaunfs shall hear interest at the Highest rate permissible by
<br />awe law. \nshing c~ntsined in this ratagtslxl± : shall rs~luir.• 1 :~ndrr to incur arty expense ar do any set
<br />'.
<br />~. Landes rssa;~- make nr t~auc`e tea i.c• made reawnahic enzrirt upon and ina~aeciions of iha Prnp-
<br />ergy I.ut+~idatl that Lender shall give Botraa•er notir.- g,rior to env :ur•l, inyaar*.ion =}ac-tifyiag reasonable cerise
<br />tit~ef~ar reia#eti t,ra Leader's interesx is the Pz+operay-
<br />~. ~orx. T9se pis of ens awarxi or rlaina for dan.ages, dirret nr r{snseriuentisl, is [munet.~iian
<br />whit azty etfndeaapaLign or snit'tr taitisg ai the Yrulaertv. or part thetvuf, or for rarn`ey-auce in lieu of candrmna-
<br />, arc ley >~i and shall ha paid tv Lr radar.
<br />In ttrn et=ent, of a tcfal taking of the Property, tHr~ };rxxc~xia` Fhsll lee al~,lical in the sums secured by this Siort-
<br />'a~3h rite or.+ae~, if ant , }acid to $omawer. In tlae rrent ai a lasrtal taking ai the Property, uriless Borrower
<br />and I>a~idK ~°a$see iu trritiag, share idsall be app?ird to the sums secured by thi; \iartgage surtt propor-
<br />tamr ottf9e ptbaeede ~ is equal to that gr+~xirtitan which ilia amount of the .auras srrurad by this ~1otYgagr itnme-
<br />di4t+eiy r is fix date of taking bears to ilia fair anarket value of ilea Property hnrnediatJy ,attar to the dais of
<br />~ proceeds paid to $otrawer.
<br />I# ~~ r6 sl~tdonei! try $atTOtvet• ar if after notice by Lander to Borrower that the condemnor offers
<br />to prake sa ay€atad ar ~stle a rismr #ar ~: Borrower fails to reslwnd to Leader within 80 days of the date
<br />of aneh>t~ea, I~rrder is s fn ralkri and apply the prareeds at Ixtadrr's option tither [o rests,rtttion ar
<br />reps of #abe Prey ~ to the tstregr ~turvxl try tiaic ~liartgage.
<br />fiI Lratda[ and $orrotrar tae rgtee in writing, any such applicaiian of }aroereds to principal shall
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