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<br />If under paragraph IS hereot the Property is sold or the Property is otherwise acquired by Lender, Lender
<br />shall apply, no later that: imntediatel}• prior to the sale ni the Property- or its acquisition by Lender, any Fttnds
<br />held by Lender at the Time of application as a credit against the sums secured by this Jlortgage.
<br />3. AppHeation of Payments Unlec applicable larx- provides otherwise, ail payments received by Lender
<br />-trader the \ote and paragraphs 1 and 2 hereof shall be applied Iry Under first in payment. of amounts payable to
<br />Lender by Borrower under psragrsph ?hereof, Then to interest payable on the \ote and on Future Adeztnces, if
<br />any, and then to the principal of the \ot~ and to the prncipa! ai Future :~dx-anees, iE any-
<br />4. Chtuges: Ziens. Bormwer shall pav alt ts~es, ssseaments and other charges, fines and impositions attrib-
<br />utable to the Property which may attain a priority over this Mortgage, and ground rents, if any, at Lender's
<br />option in the manner provided under psragrsph 2 hereof m• by Borrower making psyment, when due, directly to
<br />the pacee thereo#. Bormwer shall promptly iurnislt to I,erdcr all notices of amounts due under this paragraph,
<br />and in the event Borrower shat! make payment directly. Borrower shall promptly furnish to Lender receipts evi-
<br />dencing such payments. Bormwer shall promptly discharge any lien xc!tic}z has priority Deer this Mortgage; pro-
<br />~ tided, that Bormwer shall not be retluired io discharge ary sttcit lieu so long as Borroner shall agree in writing to
<br />the psyment of the obligation secured by such Beta m ; manner acceptable to Lender, or ;hall in good faith contest
<br />~~ such lien by, or defend enforcement of such lien in` legal l.roccetiings whic}x operate to prevent the enforcement. of
<br />the lien or forfeiture of the Pro}rert_y or any Ixsrt tl;ertti-
<br />5. I€a:arrd Insur~sce. Bormwer shall keel, rite mx!~mcenxents zxoxr esishng ar hereafter greeted on the Prop-
<br />erty insured against los: by fitti, hszsnis included within the term "extended coyernge". and such oiher hazards as
<br />Lender play require snd ir. such amounts and ter sncl: l:crieds as i.ender rosy rcquim: pmx-ided, that Lender shall
<br />not squire that the arxotxnt ai ;ucix eaxersge cxcefvi that amount of cox•erage rcrTuired to pay the sums secztred-by
<br />this Ziorigage.
<br />The insurance carrier providing tJxe insurstx•e shalt be chosen i,y Borrower subject. to appmvsl by Lender;
<br />provided, that such appmtal shall not he unreasmxsh!~ withheld.:\Il premiums an insurance policies shall be paid
<br />si Lender';. option in the manner }troyided andrr ;~sr grtp!: '? itareoi or ht Borrower making payment, when due,
<br />direeth to the insurance carrier.
<br />In the event any policy is not renewed on ar be#ore tan days of its expiration, the Lender, to protect
<br />itc interest, tna~ procure insurance on the improvements, pay the premiums and such sutra shall bernme
<br />immediatsdv due and payable x-ith interest at the rate set #orth in said Hate until paid and shall be
<br />se~vred by this tfortgage. Failum by Borrower io comply Lnar, at option of Lender, constitute a default
<br />~,~ t~ ~ ~ ,~ the ~i~~
<br />All insurance }~liei~ and renewals thereof >I~aI i 1><• Sax iarnx srce•ptal,lc m Lender ;tnd shall include a stsndar°
<br />mortgage elau~ in farar of sstd m form acreJ,tnble to Lender. 1-ender :hall have the right to Staid the policies and
<br />nuewski ttser+eoi, and Bormwer shall pmmptlc iurvish to Lender all rene~xs] notices snd all receipts of paid pre-
<br />m-:.ttms la the crept ai 1av. Borrower slxai] give. prompt. novice to the xnsuratxrc carrier and Lender, and lxnder
<br />rosy matte proof of loss if not made pmrtxptly by Borrower.
<br />Unless Lender snd Borrower otherwise agree in xwriting. itsurance pnxeeds ;hall be applied to restoration ar
<br />repair of the Property damaged, provided such r taratiar. or t-epsir rconanxicalh- feasible and the s~urin• of
<br />L}us'+frntgag~e is pat t_hzrebr impaired. If sucit restoration or repair is ::ot _vanamicaliy feasible ar if the security
<br />of #3sis _lsortgagr would be impaired. the ;nsurana~r proceeds sJ::tll be snpiii i to the sums secured by This Mortgage,
<br />with the r?zcei,, ii any- paid to Box~•ower If The Pmpeny is sbandanec3 by Borrotwer or ii Barroa•er fails to respond
<br />to bender within 30 does after pollee br l-e^der to Borrower that the iasursncr carrier ot3ers to settle s claim for
<br />ixasaasace benefits. Lender is autlto_*tzed tD rallec*, snd apple the izz_euranre prart~ds at l.erder's option, either to
<br />r~tosatian or repair ai tae Pro}sertr ar zo the .urns seruzYrl he this Mangage.
<br />IInless Lender and Harrower otitersvzse agme in writing, sn} sari: application of nmcee~is to principal shag
<br />trot. eztead or posipanc t}te due date of the utantS:iy installments raferreu to in paragrapixs 1 and ^_ hereof or change
<br />tht arainlllL O' Slt[li lri5tallmCATs-
<br />li undo aaragrsplt li; hetrof *.i:e Prapen3- is a~uired by 1-ender, a!I right, title snd intezc•st of Bormn•e- in
<br />atsd ttis ape- ;_^:auranre ;+axheie. snd in anei to the pew-e~~is thrr~i t to t!re e~-tent ,:i the sum> ecur<v bt this '11an-
<br />gage immediately pz3or to sorb sale .,r acqui>itxcxn+ ms Thing inxm dantsge to the Ym}xnv pri,,. ;o the sale ar
<br />sozluitrisaom shall pass zo Lesdi T.
<br />& Pnewreatioa ossd Imsa ~ Propsrrty: I.e®eholds: Condntainiums Borrower shall keep the Prop-
<br />etty to good re}tair and .hall aat permit ar c-omn»t xs>-te, impaztznent. or :3ezeriaratior. of the Pmpertr and stroll
<br />ep~slg,aeitb the prnxisians of any lease, ii this \iorgage is on s 7essehold. if this ylattgage is on s rottdotninium
<br />t~ti;<, ~r shall }ter ft,rut at3 ai Borrower ~ +tbligation u ~;rr live -~•iarat;o of _rtndo.'niri:zezt or master deed.
<br />t$e ty-liars and regnlaxitaxs ai the cnndomirtitnrz project anti av-tnstituent dorusttent~.
<br />T. '~tian d Iwmdar'a Secu[iiy. 13 Borrtwer fails to }xerfamx t he carersanc and agreements contained in
<br />this ?.lotaat,®e, or ii any atvodt or ptocFedirzg is za-uttnxnrra~l which ruateria!iy sfieets Leader ~ interest in xhe Pmp-
<br />ersy, itteltxding, but not Iirnited to, easinent daniain. inwicanrr, rode rnfom•Ltent. or arrangements or proceed-
<br />irrge inval;-sttg a Isattlcrupt or decadent, th~x L+endes at 1~nder•s option, u!~a:; notice to Harrower, rosy make such
<br />appeataaxxs dichurse such ~ttns and take surlt action as is nerrssan to protect Lendei s interest, iurluding, but
<br />pat lirnittd to, disbursement of reasonable attaunee's fell: snd entn- upon th;' Pmpeny to make repairs. Any
<br />ata dialsw-sad by Leader },trrsttsni to this patagrspa ; . tt•itla interest thereon. shall tc~conre additional indebt-
<br />~ Barzors~ sazsred lrr this ilnngage- Lfnless Borrower and i,rnder age to other terms of pay meat, such
<br />araaa$fia ~all3ae psysb?e ;*aon xtotiot• =rant Lender to Stxt•n:wer t+equ~trng ;zatilent themei, and shall bear inxer-
<br />ettt f3® t;~ date of d'rsbtttse~sent at the rate stated in the \ote unless payZttent of interest at such rate would be
<br />away to applitxble Saw, in wti~x ex~rtt each amounts .hall bear inxerert at the highea-t, rate pergni~ible by
<br />awpple ns. \otlting contained in thin psragrsph 7 shalt require Lender to incur any expense or do any act
<br />3 Lt-rasa zrmv tnaac ar can=e to Ix• made rra_~anahic• t-rtries Upoa and inspzrtiatvs of the ProP-
<br />erty, Fmtided that Lender shall gyre $arrnn-er pollee prim to any =uric insptrtion >l,eriiying res.=ona6le cause
<br />tm• rr?ated to Lerrdm•'s ittr~*~t in the Pro}3etgy.
<br />'d. The prot~zds of any- aa-atd os claim for damages, direct or consequential, ire connection
<br />rrtla say tmndetunatarat or attser taxing ai fire Property, nr I,srz titetrof, or for ranveyance is lieu of rondemns-
<br />ti~, sr2 y ~ a~ mall ~ paid is Lert<ier.
<br />In t3ae went ai a total taking of the Pti~rty, tLe praeeedn a!rai! lse applied to she -unto secured by this \lort-
<br />gttge, the exoees, if any. }said to Barron°er, In the event of a },anial taking of the Property, unless Borrower
<br />oral Lander ottsrrai~ agree in arritiag, tLere sJsa11 t,r applied to the runts =ecumd 6y aria \Icrtgage such propor-
<br />tion of the px+amt~tts a-a is ogttal W ilsat proportion which the amount of the sums securctl by ibis \iottgage imnte-
<br />di~tdy pt9or xo the da>x of taking beats to tlse lair xuarlt~ value ai the Pmpeny itmm~liaiely prior w the date of
<br />tadm~, wit?r the kvslarst^e of Ilse prod paid to Barrow°er.
<br />>f tdre Pmpeaty is abaadoaod by Bssr:nrer or ii offer notice br Lender t o Bormwer that the eondentnor oSers
<br />tas malre an a~•ard or seLUe a claim far datrrages, Bormwer fails to respond to tinder within 3U days of the date
<br />of sateh notice, Lender is autlrorizsed to txallecx and apply the izroereris az Lendei s option either to restoration or
<br />r~tair of the Property or w the sums secured by this ifo^tgage.
<br />i7nle~ Lender and $orrower ottsemise agree in writitrg, any angle application of proceeds to principal sha{1
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