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<br /> I2 u�der I�aragaaph 18 l�ertof t.Fne } ioperty is sald or t }ie Nrn{aerc�� is <�tiiern�ise acquiTr.ci b�> l,c:nder. I_endet
<br /> sl�all i�.pplX•; no la�:er thsn ianzrieetiute43� }�rior to nc� �,:-� 1c uf tl�e. f?¢��erty ��r xc � .,eqi� f�iciuti by I ,etxcier. cm�� �'imds
<br /> �„ lield bv Lender at ttxe time oi a�}alicatimi as :i crecizt a;;;�in�t. tlie �uifi; ,rcurcci i»• thi:, 1Torc�ngi�_
<br /> �'" 3. APPlicution of Fayxneats Li>le�s ,sFarlics�bla i:uv �,rovi:des �il3ertra::c. :ill pa}•�rient� recei�•cd k�y' I.eader
<br /> � : nndeithe �`ate aiz<3 �>vrn�r�p3�s 1 and `�4�� heraof �hi� ?1 Jac ct7���i�ei3 � i>y I,erl�ier iiaai 'rn g�yineni,- a7f aincianEs -}a:�,yabl�. �to �
<br /> �"�'` Lender by E3nTro�ver under ps�ra�raph 2 lt�moi, t:igeit t,u itrtere.�i ��t�v.ible c�n t3�e \okca asic! nn Futurx� Acivc�nces; ii
<br /> ; �- �n}*, aaari ihexi tn t�ie ��rincip� i, ai tlae Note. mnd :to tJie jiri�iciri.�l c>f I'uture ;�:dua�ices. ii qtn,y:
<br /> `�- ` 9. Charges: Lieas. 8orro�r�er s}aalt ;»� all ts�xe�. tc,se��mcnt.s uui.t otker claar�,ns , fines �nei insnasitiona atLrit�-
<br /> � utubie xo the Pm�serty :�vhicls may ;sttsin a ��riorat} overtli�5 lfortga�e. ,�:ad nr�uiir� r�nts, ii ai3v,- si E.ender's
<br /> � � option .in ttxe znuT3ner ��rvvidei3<su�der ��sra.grupl� 'i ?iGreni or t�t 13orro�cer irsaking ,�:ayiaaei3t; when �ue, directl�> to
<br /> t.he payee fhereuf: B�rro�ti�er �haii �rbiv�atly 'furni�l� so I;endcr :�ati notices oi a�noiinEs rlue uncier tl�is pars�sxtph;
<br /> ,, and in thcs event Barrocrer stnail anake �a�anenG directl}� , Iiorro�cer �3�,^eli 7aroa�ipf.lS� i'urnsst� tc� I.eiader receipts evi-
<br /> deneing such pa���ents: Bnrraw:er s}tsli l�.rom��tiy ,disrtinr�e iiit�* Pien ti��hich lxv, }�riUritc ovcr tfiis \TorG�a�e ; pro-
<br /> � r vifled, Lhai; Borrower shs11 itot Ue requireri to disr.SyNr�e anp such iicn so Ivn� iis iiurro�ver shalf sgrce in s��rstin� 2a
<br /> Che payment of the obligatiou securecY laj> 4uch lien in a m�x�ner ;eacept,nt�le i:n I,cuder, or �hnll in �onci faith contesi .
<br /> r 3ueh lien by, or defend enforcement of suc'=i lie�: i�i , leg:il lirr�t;eedings n*}iici: aperste, to Farevent r.he en£orcement of
<br /> f,he Sien or farfeit,ure of the Prapertr= or .:nv j�si�t fi�eraof.
<br /> S. Eiaacad Iasur�mco. Sorro��•er shall kee�z t3�e itnj�rqE�en�ents noat� existiu�; or l�ereafter crected on the Prop- '
<br /> erty insureda�aiiist loss by lire; tcaaards iracluried avitl�iti the teri�z "exteiideci e�vernge". :ind such oti�ci• hazat^ds �s.
<br /> ' T.ander may re�uare and in sizc}t ziuiounts �:xid for seic}� �icriods <as T,ender mnt- require ; ��rovided; that I.ender ahall
<br /> ,; not:sequire .tlisL the-�mount a€ such caverage exceed tl�at anzount: oi ev��er�ige requireci to pn}- the sums secured 'ba
<br /> � : ti}is 34lartgagz. . ,
<br /> ?'he insurnnce c�rrier }�raviding z,lic insurarice si� all Ge ciiosen Uy E3orro�cer sul�jecc i.o sppmuad by I,endes;
<br /> provided; that, such <��prava] sliall noi be unrea3sona�ly withhei3. <�11 premiurns on insurance policies �kiull be p.nid
<br /> � at Le�ider's optiosi iii the i��anz�er prorided uiider ,:aragn�pli '2 ?�creof or by }3orrozcer iuskin� pa���nent, ci�hen dixe,
<br /> ` " directly to the insurance carrier.
<br /> In the event any policy is not renewed on or before ten days of its eapiration, the Lender, to protect
<br /> its interest, m�y procure insurance on the improvements;, pay the premiunvs and such aum shs31 beeome
<br /> immediately due and pa}*abie wdth inferest at the rate set #orth ui said nnte tmtil paid and shall be
<br /> secured by this MorY,gnge_ Failure b�s Bormwer to comply rnay, at nption of Lender, constitute a default
<br /> � under the temis of this Martgage:
<br /> �Ai1� insursance policies �ntf � ren�wais t�hei•eoi Givatl t�o in fc�ni� acec����ta1�le� tQ T:endes ena sh��1 include a standz�rd � �
<br /> '; enurtgage clause in iaeor of und in iorm sccept.u3�le i� Lenii<zr. l.ender :t3a31 tia�•c ti3e ri�tit, io l�o1c� tlre policies e�nd
<br /> renewmis thereaf, us�d Borrawer a}issli prompcly iurnish to I.en��er ail re��ewaI notices und all receipls of �»id prc-
<br /> ' rniums. In t�e event of loss, Borrax��er sh.� il gi��e }3rocnpt notire tv the insui•aiiue carrier and Leiidet, und Lender
<br /> ' �nay i�ake proof oi loss if not. made prona�atiy by I3orrou•er.
<br /> Un]ess Lender and I3orroc�•er other�vise a�rer in n�ritinc, iresui•ai�ce ��roceeds shall be sEaF�lied t:o resEur�tion or
<br /> repair of il�e Pa•operty damug�d , provided st�cl� re�torakiuit oe• i•epair i= e�:utiocuicnil}� fcai�ible anu the sticuri��� a4
<br /> Chis llortgage is noi therebc iiiipaired. It such restoi•:iiiun or rep:ir is noi economficai!}- feaisil�le or if lhe security
<br /> of this �iortgage svould l�e itnpaired, ihe iiFsurance }.�roceetis �l�:xll c>e ag�ptieci to the sums secured by this 14ortgage,
<br /> svith the excess; ii any�, p3id ia l3onoc�•er. If tlin, Pro�aerty is ;� l�a:idoned i>r� B�rrorvr.r or ii Borra��� er izils to respond
<br /> to Len@es witliin 30 �ays :�fter uoiice by I,ender io Barrowes• t3rat chr. iissurance carrier afters to setile a claim for
<br /> insurance }�enefits, Lender is authorized ca co]leci ai�ci apply ihe insurance procecds tit Lender's option eibher t.o
<br /> restoration or repair oC i.iie Properil or to the sunis secured br tli�s \Iort�;sge,
<br /> Tlnless Lender s�nd Bormcver otiYertvise agree in ���riting, ai��- such application of proceeds to principal shall
<br /> not eattQnd or postpone tlze due date oi the 3noniliiy instullrnents referred to in purugr�phs i and '2 23ereof or ohange
<br /> the aznountof such instaillmenis.
<br /> ` Zf under para�raph 1S hereof t13e Yroperty is aequired l�y Lender, a17 riglii, tiG3e and interesC of Bormwer in
<br /> and E,o sny insurnnee polioies utid in and to t:iie }araceeds ihereof tto tl�e e�tei�t ui che 5u3iis secure� b}• this 1lort-
<br /> gnge immedi�,tely �arior to suc-lt :ate or ucquisitioii 1 resulting fa•��m dtim:ige zo ihe k'roperty prioc to t11e stile or
<br /> acquisition shall pass to Lendes.
<br /> 6. Pzeaerva3ioa �d Mmatenaace of Pzoperty: Leaseholds; Condominiums, 73orrawer shall keep the Prop-
<br /> erty in good repair and s}�rsil not permit ar commii waste, impair�nent, or deteriorativn c�t the Propertl• und shali
<br /> comply with il�e provisions �f ana• le�se, if ilai; �Iortgage Ss on s leasehuld . Ii t.his lfor[gage i� oii a condorniniun�
<br /> unii, $orro�ver chall ��erforn� all oi Borro��er's oialigution� uaider th� declarut:ivsi ai cundoininii�n� ar master <3aed,
<br /> ihe by-lsws snd reguiuiions of tlie condonuniucn pr�ject snd const.ituent riocuments.
<br /> ?. Protac#ioa of Lendei s Security. I i Borro��er isiils to periorm i��e c��veniuits sn3 agreements coutaizied in
<br /> 6his �iortgage, or ii aay action ar procecding is commenced tivl�icli �naterialiv affects i,ender'; interesi in the Prop-
<br /> erty, ineluding; I�ut not limited io, einineni donjuiei, insoh•ena�•, rode eniorcem�nt , c�r ;;rr,�ugenienis or }�roceed-
<br /> inga involving a bankrupt or ciecedenc, ilien T,e;nder nt Leczder's o�tion , npon Tiotice to Borrotver, nYav inake suci�
<br /> ap��earances, ciisourse aucii sucns snd i,ake suc32 acuion :is i� necessary io proiect Lender's int.er�st, ineluding; but
<br /> not lim±ted to, disbu�emeni of re3sonabl�. attnrney 's iee� and e.3�try� upon the 1'rogerty io snal.e. repairs. �nF
<br /> aznounts disbursed by Lender }aursusni to t3iis paragraE�h 7 , cviili interest ihereun; sha31 ;:ecocne �dciitionai indebt-
<br /> ....�...+«_ .. R a��ww . �am.irar3 }si i�.hic \.l'nrt.troo 7T _ I.n..- j.2 .... :� ].(,'3uG . �bTCC. T.Q OU�.1C'S tEI'11�5 O{ . �)8}'IT1CIIt� SUC�1� � �. . .
<br /> � nmounts sliall be payabSe u��an notice fro�ii I �nder to F3orru�jer reyiiest�n� �.�3��ment iiiereof, anc� s1aa11 bear inter-
<br /> est frum the ciate of disburser.�ei�t at the raL.c stai.ed i�a the \ot:e unless p�iyrneni. of interest est such rste weul� be
<br />� contran� tn �n;�lic4??le l�c�•, iii wh'sch e�•ent. sucli nnaoui�ts sticeil lsesr intere.t sf tf2e hi�he�� rute �ern�issible by
<br /> npplicable law. Voti3ing coniaazuri in ihis i�aragra��l� 7 sha13 requirc I.ecicier io incur a�iy exF>euse or do anp act
<br /> hereunden
<br /> 8. Tuspectioa. I.ei�der 3ns�• �i3ake or cause to tx m.uii; ecn�onutalr ciirrie5 u�ron an�z insF>ection� oS tl�e Prop-
<br /> erty, pr�n>i�9ed tlaar I.endes s3ra1! give 13orrn�rer naticc: �,ric�: * o :::��• ,ac 3� iri.;�ecLion cpc.c.if��ing reasoi�able c.Eiuse
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<br /> . C J, C.8�2i. .iO .a:uliu4i. � li1�i:I�eL 11i i.tle i't'JjJt'-1'i:\'. . .
<br /> 9• Condamaatioa, Tlre proceeds of anti^ sr�-arci or clairn ior <isiiis�es, dire�t or consequex�tial , in cuiinectiaxi
<br /> �rith aay condettination os other takin� ai the 'Pro�>erCy, oc Zaart zlie�rof, or ior ct�:i�•e��u,nce i:a lieu of rixidenanx-
<br /> f.ion, aire het1ehy assig�ies� �nci s2:uIl hc paid t:o I.ender_
<br /> a In t}�e ei�eat: nf a totgl t�king of zlie l'ragerty, z3ie I�rocecd, ,3�a11 !>c 3���1ie1 ic� iixe �ury�s secured by this �4fort- k , �,
<br /> gage, wii.}i tl�e eaces„ if nn}•, pz�id tU Barra4��er. Iz� tl�e evei�t of a �,�artinl taikin� oi the Yropercy, iinle�.� I3orrovver � � ° ""
<br /> , ��u .��
<br /> and Lender otl�erzeise a�ree in ^a•i•icmg, t3tere al�sil t�r. applied io ti±e au�t�s �ecured h�* this �Iortgage �uch 9>ropor- „ w�^
<br /> tion of the �iroceeds xs is equa! io that propor[io�7 x•}�iclz tlte at3i�unt of ti�e sums secured b}� t}iie _llortga�e imrna- �'� '
<br /> di$tely prior to tl�e date oi tal:ing heai� to ti�e f�ir =narket value ai tl�e Pro�aert�� immedistel,y prior to ihe dste of ``, ,�,
<br /> � taking, witl� the i�alsn+re:of the �roceecis }aaid to Borrasver. ; ' " "
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<br /> If tlne Psoperty is abstnc3on�d 6y Borrovicer or ii :tfter notice U�- Lea�der Lo $orru�v�r iiiu�, the condemnor o�crs
<br /> . . �r� wad�s t,u xw�iYi ut� �e�tie xa esaim avr us�sns�, liorra���er iasts tn recpq�ci t.c� l.en�(er �viiLin 80 da��s of t)De d�te
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<br /> of sa4;i ..o:,i;.�,, L�.1�t i, aucuua-ineu iu coiir.�t, ariri s}�pay tiir }�ro4eecis az Lei�der's o�ytian citlrer to restoruiion or
<br /> � . ' repair of the Propert,c or to t:ne suins seeurec� b}� ilLis Z1oiKga�,*e.
<br /> LTnless Lender �,xid Borrosver otherxvise agree icx �ti•riting, any suc}i :applieaiion of proceeds to principal skiull
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