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<br />If under Pangrapts :7 hereof the Property is soitl or the Property :s otherwiu acquired by Lender, Lender obeli apply, no
<br />later than imniegialely prior [o the sale of the Property or its acquisition by Leander, any FurMS F.eid by Lender at the time of
<br />application as a credit against the sums secretl by this Mortgage.
<br />). Apptiplion of Payments. Unless appliceble law provides otherwise, aft paYnsents received by Lender under itu Nofe arW
<br />ragnPhs 1 and 2 Mreof shad t>e applied by Lerider first in Payment a! amwnts payable b Lmifer by Borrower under paragraph
<br />I hereof, then to interest payable on the Note, and then to the principal o! the Pbtq.
<br />Charges; Liens. Borrower shall Pri elf taxes, assessments and oiler chargpa, flries arW impositions atlribufabie to Ilse
<br />Property which may attain a priority aver W a Mortgage, at t.mders option in the manner provftled tender Paragraph ]hereof
<br />ar by Borrower making payment, when due, directly to the payee ttsereot. Borrawmr shall promptly furnish fo Lentler all rotices
<br />of amounts due under this Paragraph and, in the everrt Borrower shall make payment tlirealp, Borrower shall promptly {umish
<br />to lender receipts evidencing such payments. Borrower shall promptly discharw env lien which has priority over this Mortgage;
<br />provided that the Borrower shall not ba required to tlisdsarge any such Jim so long as Borrower shall agree in writing
<br />to the paytteenl Of the obifgation se antl by such Jim in cmptable to l.entlar, or shall in good fetch contest
<br />such lien by, r defend enforcement of such lien in legal proreetlmgs which operate to prevent the enforcement of the
<br />Ii¢n or forfeiture of the Property o any part therco/.
<br />5. Nazard Ins Borrower shall keep the improvements now existing or hereaRer erected an the Property insured
<br />against less by firer hazards inctutlxd within the term °extentlxtl roverage", antl such other hazards as lender may require and
<br />uch amounts and far such periods as Lender may raqui re; provided that Lender shall not regal re that the attivunt Df such
<br />c rage ezceetl [hat amount of coverage requiretl to pay the s ed by this Mortgage.
<br />ov The insurance carrier providing th! in shall be chgsens by Burro r subject to approval by lender; provided, that
<br />uch approval shall not be unreasonably wllhheld. All premiums on insurance policies shall be paid by Borrower making pay-
<br />ment, when due, directly to the insurance carrier.
<br />All insurarim policies antl renewals lhermf shall be in form acceptable to Lender antl shall Include a standard mortgagee clauu
<br />n tau of antl in far ceptahle to Lentler. Lender shall have the right tv hold the policies and r ewals thereof, antl Borrower
<br />shall promptly furnish to Lender all re oral notices, the polices antl any r orals thereof and all r eipts of paid premiums.
<br />In the even! of loss. Borrower shall give prompt nobca to the insurance carr er antl Lender, antl Lender may make proof of loss
<br />if not made promptly by Borrower.
<br />In the event of a loss, the amounts collected shall be payable to th< Lentler and at the option a( the Lender may be used in any
<br />¢ of the following ways' (i) applietl upon the Indebtedness securetl hereby whether such Indebtedness be matured
<br />matured; IS) sod to fulfill any of the covenants metal netl herein as the lender may determine: (a) used to replace or
<br />esmre the Property to a condition satisfactory to Lender; Or (e) release flues a [o [he Borrower. Such application of proeezds
<br />[o the Indebtedness shall no[ extend or postpone the tlue dale of the monthly installments re/erred to in Paragraph 1 hereof or
<br />change the amount of such installments. It antler Paragraph t7 hereof the Property is acquiretl by Lentler, all right, iltle antl
<br />interest of Borrower in antl to any in a policies antl in and to the proceeds thereof r salting Frain damage to the Property
<br />prior to the sale yr acqui si[ion shall pass to Lender to the extent of the sum secured by [his Mortgage Immediately prior co such
<br />sate or acquisition.
<br />6. Pre vation and Maintman<e of Property. Bor shall keep the Property in good repair and shall not permit or
<br />commit waste, i r tlelerioration of the Property antl shall c mpiy with any restrictions affecting the Property.
<br />7. Protechonroof rLender s Sec ri:y. If Borrower fails to perform tM c ants antl agreements contained in Nis Mortgage, o
<br />if any action or proceeding is cod which materially affects lender's interest in the Property. nclutling but not Ilmitetl lo, r
<br />ant domain, i solvency, ode enforcement, o angements or proceedings involving a bankrupt or decedent, then Lentler,
<br />at lender's optiann upon notice to Borrower, may make such appearances, disburse such s antl take such action as is
<br />ary to protect Lender's interest, including but no[ limited to, tlisbursemenl of r noble attorney's fees and entry upon
<br />:tie Property to make repairs. Any a. uncs disbursetl by lender pursuant to this Paragraph ]with interest thereon shall become
<br />additional Indebtedness of Borrower ecuretl by this Mortgage to the ascent permitted by applicable law. Unless Bor and
<br />Lender agree to other to of payment, such amounts shall tx payable upon notice from Lender to Borrower req'ueating payment
<br />thereof, and snap liar merest from tM date of disbursement at the rate of t0$ unless payment of interest at such r ould be
<br />..ontrary to applicable law, i which a pet such a uncs shall bear interest at the highest nIe per Bible by applicable law.
<br />Nothing c inetl in this Paragraph 1 shad require Lender to it any expense or do any act her cinder.
<br />d. Inipectinn. Lender may make or c e [o be matle r noble entrees upon and inxpecions of the Property.
<br />9. Condom Bor ogre s that all ¢ aids heretofore or herealler made by any public or qua i-public auttwrlly to
<br />the pre eel dnd sits baxquetti arsngra of the Pivperty covered by this Mortgage by virtue of an exercise of the right of eminent
<br />tlaowin by 5 aulttority, in :utling any a aril for a faking O! this. puss ivhl of a s to a public way, Or for any
<br />change of gra cf z atfxtirta said Pigpen a hereGy assigned to the Lender, led the Lander at hs vRhon is her«y
<br />author :ad, tlirectetl and empowerctl t0 col left and r e the pro ends of any such a and o arils from the authorities making
<br />the soma end iv y.v rgpzr r-a:Gts and acquritane othzrafara, and may, at the Lmro is el <ctiad, u uch proceeds in ne
<br />e of the tallow ng ways c` 117 apply tea same yr any part thereof upon the Indebttdness srcuretl h<rnbY• whether such o
<br />indebtzdness then be maturetl or unmalurea; 12; u ¢ the same ar any part thereof to fulfill any of the covanen[s contained herein
<br />s the Lender may determine, 131 a .he s any part thereof to replace or restore the Property to a Onddion satisfactory
<br />to the Lentler; or 141 release the a e to the Bvrorower; and tlx Borrower hereby c ants antl agrees to and with the Linder.
<br />upon request by the LerMer, Io make, a cute. and deliver any and all a-signments and other inatruttienta sufhclent f r the purpose
<br />o(a signing all such awartls tv the Lentler free, clear, antl discharged of any and all ei mbrancns of any kintl or nature whatso-
<br />The aRPli<alio of such proceeds to the Indebtedness shall not ezlend or postpone the due dale of the mpnlhly installments
<br />referred to in Paragraph 1 hereof or change Ilia a ant of such installments.
<br />10. Burro r Not Released. Extension o! the time for payment yr mWil'icalion o vr'tization u( the s uretl by ihia
<br />Mortgage granletl by Lender to Borrower or to any s s interest of Borrower shall no/ operate to rei aser i any manner,
<br />the liability of the original Borrower and Borrowar'sus es r i est. Lender shall not be required to commence proceedings
<br />against such successor, to refuse to or to extend lime for payment. r rt ollrerwise W nxrdi/y amerizatign vt rho sums secured by lhix
<br />Mortgage by re on o! any demantl matle by fix original Borrower or tlorrowar's successors in Interest.
<br />il. Forataaaaance by Lentler Not a Waiver. Any Ioretxarancn by Lender ine ing any right or remedy her under
<br />otharw{sn afforded by applicable law, shall net be a of or pnclutln the a ul any riyhl or remedy her under Thx
<br />prvcuremeni of insurance yr the payment of faxes o other liens er charges by L eider shall not be a waiver of Lender's right to
<br />a celevale tree maturity df the In.~btedrxsa sncuredrby this Morlgage.
<br />c 17. Remetlies Cumulallva. All r metlips provitlnd in this Mortyage n distinct and c nulalivn to any other right or remedy
<br />under this Mprlgaga o afforded by law equity, and may lx a Bed concurrently, intlepentlenlly, u only.
<br />I d. Suc and Assigns itdund~ Joint antl Bevgral Liability' Captions. The c ants and agree mfs herein conlainetf
<br />shall bind and ihp rights her under shall in a to the aspeclive s antl a signs ofttLender and 9orower. All c ants
<br />and agreements a( Borrower shall be joint antl sevenlr Tha captions and heatlings of the Paragraphs 0l this Mortgage a for
<br />tksvpmenca only antl are no[ to be usetl to Ini¢ryret or define the prnvi sloes hereof. in fix event the ownership of the Properly
<br />any part Iherevt becomes vested In a person ntlxr than iha Borrower, the Lentler may deal With such successor or successors
<br />in interest with reference Ip this Mortgage and the Indebtedness hereby secured In the same maneer an with the Borrower without
<br />- any nranher viBahrig ar ffiscfiarging itx Bc: rower's lability Iterauntler nr upon the Indaht¢drross hereby sxurrxd, aiN In iha
<br />nlternalive. pt the option of the lender, Lender cony declare that iM unpaid babnca of the Indeblednasx is immediately due antl
<br />Parable.
<br />)e. Noticm. Any not{cv from Lender to Borrower provided fdr In this Mortgage shall be by evict/lad mail m Borrower at ifw
<br />Property address slated below or at such adtlross as Borrower may designate to Lender by tern fled marl to Lender's address,
<br />e cept (or any notice giv n to Borrower in the manner era riksed by applicahla law as provided in Paragraph I] of this Mortyage.
<br />x I6. Uniform Morec2a_ge; Gov rning Law; geverabililv.s This form of Morlgage ombinas uniform covenants for ~a~lon+l u e
<br />antl non-uniform cvvenenla with limitttl variations by juristli coon to consh lute a um form security instrument <overiny real a
<br />property. This Mortgage shall be govertwtl by the law of the jurisdicliott in which ihn Vrapnrty is leafed. in tlx avant that any
<br />provision or tlause a! this Mortgage or ttx Nole conflicts with applicable law, such conflict shall nut affect other provisions u/
<br />this Mortgage or the Note which can be givers effect without the conflicting provision, antl to this end the provisions ul this
<br />Morlgage arW Iha Nola are declaretl to lse severable.
<br />16. Borrower Cam. Borrower shall be furnished a conformed copy of this Mortgage a1 the time of ezxs:uuon or otter
<br />recorgauan hernol. a
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