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If antler paragraph IP hereof thr• Property is .old nr rhr• Property ,• otberwt~+• :u•quired by Lender. [.ender
<br />shall apply, no later than inunediatcl}• pnor to Ihc• sttl<~ of the R~uperty yr its uc+;utnnion by 1,~=ndor. ;u,v Funds
<br />Geld by Lender nt the time of applirnt.ion as a credit uguiu>t the ~.um> >e+~un•d ht thr ~7ortgago-
<br />3. Application of Payments. Unless applirtblc Imc 1+rcivides othenrtu•, all payment-. rereict'd by Lender
<br />under the tiote and paragraphs 1 and 7 hereof shall he applirrl by Lender first in paynu•nc of amounts payable to
<br />Lender by Borrower under paragrapb 2 hereof, then to interest payable on the .`sole ;uul on Future .4dvances, ,[
<br />'". any, and then to the principal of the A'otc and to the principal of Future Adrances. ti au}-.
<br />~=i.! 4. Charges; Liens. Borrower shall pay all taxes. assessments anti other charges, tines ar.d impositions attrib-
<br />~~ arable to the Property which may attain a priorit}~ aver this 1ortgage, and ground rents. ii soy, at Lender's
<br />option in the manner provided under paragraph 2 hereof or by Rorrotver oinking payment. when due, directly to
<br />~' the payee thereof. Borrower shall promptly tm•nislo- to ].ender all noticea ai amounts due under this paragraph,
<br />and in the event Borrower shall make payment directly. Borrower stroll promptly furuisl, to Lender receipts evi-
<br />/~ denting such payments. Borrower shall prompt]}- discharge any- lien n-hir_h has prim•icv over this Mortgage; pro-
<br />vided, that Borrower shall not be required to discharge any sorb lien sa long as Borrower shat! agree in Tvriting to
<br />~ the payment of the obligation secured by such lien ut a manner acceptable to Lender. m~ shah in good faith contest
<br />such lien by, or defend enforcement of ouch lien in, legal proceeding., which operate to prevent- the enforcement. of
<br />the lien or forfeiture of the Property or ant part thereof.
<br />SEE RIDER 5. Hazard Insurance.
<br />4tese~ls-es
<br />'>'/Cnder'fHRy"'Tef, .. ..;a,,,r fi...• T ,...,]... ~l..,ll
<br />this'-~Iert~ega
<br />The insurance carrier providing the insurance ;hall be chosen by Borrower subject, to approval by Lender;
<br />provided, that such approval shall not ire unreasonably wiihheld. All premiums on insurance policies shall be paid
<br />at Lender's opiion in the manner provided under paragrapb 3 hereof m- l,y Borrower making payment, when due,
<br />directly to the insurance carrier.
<br />In the event any policy is not renewed on or before ten days of its expiration, the Lender, to protect
<br />its interest, may procure insuranc on the improvements, 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 this Mortgage- Failure by Borrower to comply may, at option of Lender, constitute a default
<br />under the terms of this 'Mortgage.
<br />Ali insurance policies and renewals thereof shall he in form acceptable to Louder and shall include s standard
<br />mortgage clause ir, favor of and in form acceptable to Lendet_ Lender shall have the right to hold the po]icies and
<br />renewals titereoi, and Borrower ;hall promptly furnish to Lender ;ill renewal notices and all receipts of paid pre-
<br />miums. In the event of loss, Borrower shall give prompt notuc to the insurance carrier and Lender, and Lender
<br />may make proof vi loss if not made prompt.iy fry Borrower.
<br />Unless Lender and Borrower otherwise agree in writing. u;>uranec proceeds shall 6e applied to restoration or
<br />repair ai the Property damaged, provided such restoration ar repair is econumic'all' feasible and the security of
<br />this 1$artgage is not thereby unpaired. If such realm-anon ur repair is not economically feasible or if the security
<br />of this Mortgage would be impaired, the ;esurance proceeds :hall hr applied to the sums secured t>y this iortgage,
<br />with the eYCess, ii any, paid to Bon•owcr ii fire Property a abandoned by Bvr.*ower or ii Borrower fails to respond
<br />to Lender within 30 days alter notice ii} Leader ur Borrower tLst the insurance carrier offers to sortie a claim for
<br />insurance bonefits, Lender is authorized to collect anti apple cite insurance preceetis at Lenders vption either io
<br />restoration or repair of the Properuv yr to the sums secured fn- this Mortgage.
<br />Unless Lender and Borrower otherwise agree m writing, avy such appiicatmn vi proceeds to principal shall
<br />not extend or postpone the due date of the ntontbl}- installments referred to in paragraphs i and '2 hereof or change
<br />the amount of such installments.
<br />If under paragraph 18 hereof the Yropen}- is acquired l,y Lender. ail righi, title and interest of $orrower in
<br />and to any insurance potictes and m and tv the proceeds rherevi ttv the eaten*. of the sums requred by this `Iort-
<br />gage immediateh• pnor to >uch safe or acquisrcron, resulting from damage tv :ire Property pnvr to the sale or
<br />acquisition shall pass to Lender.
<br />6. Preservation and Maintenance o{ Property: Leaseholds; Condominiums. Borrower shall keep the Prop-
<br />erty to gvod repair and shall na[ permit or rvmmit waste. impairment. ut deterivratimr of the Property and shall
<br />cotuph• with the prorisians of env :ease, :f thi, AIvrtgsge tr uu a leasehold. Ii dtis _lortgage is on a condominium
<br />Liarrvxar s:,all periarttt all vi Borra:ver's vbligativns under the decisratton ai con+,iontinium or master deed,
<br />ute~by-laws and reguianons of the condamintunr praleM and constituent documents.
<br />7. Protection of Lendei s Security. Ii Borrower fails to pcrfonn the covenants and agreements contained in
<br />this \iortga~, or tf aav settan or proceeding is commenced which matenally ai:eata I_rnder's interest, in the Prop-
<br />©r4~y°, including, but nut limited to, etttiaent dontant, sn~olvenec. code rnioreemcat. or arrutgements or proceed-
<br />ings 'rnvalving a bankrupt or decedent, then Lender at !.cadet's option, upon noucc to Borrower, tray make such
<br />appearances, disburse suet; sums at:d take such action as is ne+r~ssrv tit Pratt-ct 1-en+.ier•s interest, including, but
<br />not ]flailed tv, dtsbussemrttt of reasonable stavcacy's teems and eutn upon the Property to make repairs. Any
<br />amounts d:abursed 6v Lender pursuant to this parlsgeap%+ ;. Leith interest therea;, shall i,ecamo additions) indebt-
<br />edness of Borrower,ec•urrd b}= th[. ~lortgngc- Unless Borrower and L,-nder agree to outer terms of uay meat, such
<br />amounts shall ire payable upon neteec front Lender to Borrower reczuenting p:teutent tiu,reof. and shall bear inter-
<br />eat form the date of chsirurscment at rise rate ~t;ued ;_, the tivtr wtle~ },a}uncut v; interest at such rate would be
<br />contrary is applicable la;c, tt~ whtci; e•tent svci~ :rmout;ts shai? hrst~ =atere~t at ilii• i+igbest rate permissible 6y
<br />3pplieable lax'. Aocltirng rvnZ u.wi to rtu> .~ugt;,pc• >i+al~~ .._,I+~,.~. I,.~;tdz~r =~ ~ .cur asy cxpeuse or do any act
<br />hereunder.
<br />$. Inepecti~ Lender n+sy ntak yr .. - t,=a - , , i i ,, ~ ,al u'_. c,.:cst+ .u;u t° -acct fan _ vi the Prop-
<br />erty, provided that Lender ~ltatl gtve But,,,wrr r.,r,+c -nto- ,c .+,,; -t, 1. u,:;H~ene•+ -=_ut+-ttrg ;+.,vonable cause
<br />therefor related to Lender': interest ur ti,c Pre,(=rrty
<br />9. Condemnation. The pracercls of .nay :,wtu~es or ,~isun rot ~leu,ages, dtrcrt ur conneyueutiai, nt connection
<br />,2
<br />with nay condenmaiiotr or vthax takntg c the Yru[,et[}. u, fort *i~rrs~oi..,r fur r„n~~,~c„t,++~ !u 3ust of cundomtr:a-
<br />tion, are hereby assigned :sari -abaft be paid to Lrn,i<u.
<br />In the eveati ui a total takutg of fir- Yrnp<•rt}, t[:~~ ; ~=c,~e,i- -t,ail :, ~ _l;,pix-d r~ :i,e -t,uu~ ~_ coati by thte A1ort~
<br />gage, wtii, the exce~:, ti any. i+aui tv Borr.,+;~er. In ti„ cunt ~-.., {=amen] t:rku,g ~,; na Yruprriv, unic•n, Borrower
<br />and Lender athetyviac agree to ;young, t.l,crc~ shall be al,plt+-+i ,+, rl~+• -u;,t~ .r+vr,~.l t,r t!n- 11m-tga}ce >urh propor-
<br />tian of the praceatis as is equal to that l,ropcr4vu whu•b liar amount ut the .an,> -,r;rt,l fry Uus 1lartgagc inrtne-
<br />diateIy prior to the [late of taking burrs to the ,•aer ntari.c•t +alu~~ a~ thr I'.ruprr}~ ,4Lnu~chutciv pnor to th,~ riot+• of
<br />taking, with the laaiance of file }rrocaed;, paid to Btn-mwer.
<br />If the Property i5 abandvnrtii b~ I3utrvwcr c;r ti aitrr t,ottcr in, 1rt~,,,:r+ to Bocrue.+~r that tt,c r;,t.,icuurur offer:
<br />tp make an ae-»rd ar bettle,a clatna :.,r daetutge>~, }far:octinr is+t- ,,, -~I,ora to i.rutl~~r ;.plus, 3ti .tav~ ui rite ,fate
<br />of such notice, Lender is authorized tc r•allcet su+l al~pic rh<~ ),ru,~ct~d- ... ,,<„~.c, ~;,t„n, ,i;,rr ,,, .+.uxannn ,v
<br />repair of tlta Property ur to the rotas sr,.cun•d 'rr}~ tine Mort ga;~c~_
<br />l)nless Lender and Buv'vu'er vd+ern'tsc a~gree~ v: ,t rtttng. utty~ sac:: npplacxttut~ u; I~rorr+u, !., t~;~tnr;u,, .i~al,
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