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<br /> If uuder paragraph ] 8 hereof the Yrol�ertv is ,old or the Yroperty is oClier�cise scquii•ed 17}� I .c�nder, I.ender •
<br /> ykiall '-apNl}�, z�o-1a#,er,tllan immediatelv prior ta t.iie sa]c of i,ht� Properi�• or its acquisiY,ion hE� T .endcr , :� ny 7?unds
<br /> � I�eld by Lender itt tlie time of lip��licatioii u� u rredit a�uinst tiic sulti, ��cure�i b� this �lort.�a�ge.
<br /> � 3. AppliGation of P'aymenta TJnless spplictsbtc la�r� �arot•ides c�thcr���isu _ill }.i:t� �nents received t�y I,ender
<br /> � under the rlote' uncl parsgrsspLs 1 axxci 2 l�ereof shall hc i�����lietl I�y T.ender fi�•�t in F�.nynicut c�f iti7�aoiint� �iayable tiu
<br /> Lender by }3orrower ucider pnr�gruplr 2 l�ereof, tiseii to inferest j�� yxxl�lea ai tlic \nta ecrici on Future ,e�c3vsnces, if
<br /> � uny, und Ghen 'to khe 3�rine2pal o£ the \ote anct to th�� �»•incS; r,rl oE I�`uture A�It sr�4es, if any.
<br /> ; . 4� 9. Gharges; Liens. $orrower slialt,�iay a11 taxes, �.ssessmeuts isnd other c.h�r�es, fiiies and icnpositions nttrif�-
<br /> ,�'� � utubl�< to the T'roperty which rna�• a.tte�in u priority ovcr itiis �Torcgu�e; 3nd ground rent:.s; if sny, aG Lender's
<br /> 1 1 J'\ pption ita . tt�e ananner proti*ided ui�der ��ara�rapla `L 3icreuf or b�� Bnrro�eer m�,king j�syn�eut, when �lqe; directly to
<br /> , = ' 1� the g�yee 'thei�eof. Borrot��ar stis7l �>3vamrtly furxtisl� �o I.encier aI1 noGiees o£ nnaoiants due under ihis paragiaph ,
<br /> and in the eveiit Borro�s:er s2�rsll , inake jjaymenG dir+ecLly; I3orra�vei� shatl proniptly turnisl� t.o l,ender receipts evi-
<br /> . e
<br /> ` `. '� dencang auclt �>a.yments. .Barirosver s1�a11 ��roLzi�>tly discliar�e any lien �tiHich ha,s priority ouer this 1lortgage ; pro-
<br /> vicled; tha6 k3ozrower shsll not l�e required to 3iseFiarge �iiti. such lieix so long ss Borro�rc:r s}aaIl agree izti n•riting to'
<br /> '� the payment of il�e oUligataon secure�i bysucli lier� in iti rni�nner :tcceptable to Leiider; or shail in good #aitli conteet
<br /> b., " - sueh lien by, or clefend enforceraent of such liet� iti, lesai ��rocee8iitgs �vl3icl� o{�er:ate to preverat i.he enfareement of
<br /> �' , tha'lien or forfesture of tl�e Yio�erbyoz• any part thei•eaf. ,` , '
<br /> S. "Hazard Iasurance. Borro�s•er shull keep t.11e iniprnvemeuts nc���� existing or I�ereatGer crected on tlie Frop-
<br /> erty insured ag�,inat loss by fire, l�nzt�rds included withxn Ghe te, m ``escenaed cu��erage", .anci such ' othvr l�uzurds as
<br /> ` Lender may zequire and in sucl� e�inouaits and for sueli 1>erioc�. aa Leuder mny- i•r.quire ; provicleei , that Linder sha3l '
<br /> noL require tlzat Lhe umount af such coverage excee�3 tliat ainaunt ofi co�^erage required to pay tlze sums secured'by
<br /> this Martgage.
<br /> ` . ,. 'Fhe ir�stuance carrier - provi�iiug ilie insiirauce shall iae chosen bv Borro�ver su6jec,t to approvnl by Lender;
<br /> ;; � provided, tha �, such spprova,I .sliall noL be unreasoiiably �a�ithheld. :111 prexniums on insurance p�licies shall bi� paid
<br /> , � at Lender`s apGion in the inanuer provided under para�rapls 2 hereof or hy I3orrower �nukiiig puynaent, svhen due,
<br /> directly to tlie insurn,nce carrier.
<br /> " In the event any ' policy is not renewed on or before ten days of its exgiration, the Lender, to protect
<br /> X , its interest, may procuze insurance on the improvements, pay the pre�a�iums and such sum shall become
<br /> immediately due and payable with interest at the rate set forth in said note until paid and shall he
<br /> :� ' secured by this Affortgage. Failure by Borrower ta comply niay, ut option of Lender, ronstitute a default
<br /> ` " '` under the terms bf this Mortgage.
<br /> _�Il insurssnce }�olicics �nd rene�vals iliereof stixll be in lor�u uccepiahle to Lencier .�nd shrill incIude a standnnl
<br /> mqrtgage clause in tuvor of and iii form accepi.at�le io Lender. l.ender shall liave tkie ri�iat tn l�old t}�e t�olicies nnd
<br /> renewals thereof; rsnd Borrower shall proniptly furnish to I.ender :�11 renewAl not.ices �r�d all receipts of E�sid pre-
<br /> �: miums. In the event of loss, Bormn�er sl�all give prompi notice to the insurance cssrrier and T,uuder, nnd Lender
<br /> mag make pr�of of loss if not Tn�de pzomptdy by 33orro�ver.
<br /> s Unless Lender und Borrower otherwise agree Sn �vriting, insura�ice proceeds shali be a�>plieci tu restarstion or
<br /> £ repair of #he Piwperty damuged; pro�-ided such restoration or mpuii• is tconoinic:�liy feasible and the security of
<br /> this'Mortgage 'is uot #,hereby impaired. If such restor.titiou or rep�ir is not econoniicallp {et�sible or if the security
<br /> of this \lortgage }vould k�e iinp�ired, the insurance }�roceeds shiit i�e apE�lied to t3�c suuis secured by tl�is �'Iot�tgage,
<br /> with tlie excess; if a�ny, paid to Borrower: If tl�e Yroperty is alaandoned by Iiorruwer ar if }3orrower fails Lo respond
<br /> to Len3er witl�in 30 days uiter notice by Lender io $orro�ver that the insurauce currier o1i'eis to seCtle a. clsini for
<br /> insurance benefits, I.ender is ttuthorized to colleci and apply t.h�, insur�nce proceeds �t Lender's o��tion either to
<br /> restorr�tion or repair of the Property or to tlie sums secured by tliis ilfortga�e.
<br /> Unless Leuder and T3orrower otheinvise xgree in �vritin�, an�• sucli application of procceds to prineipal si��ll
<br /> not extend orpostpone the due da.te of the mouthly instalhnents referred to in p��rngre�phs 1 and 2 hereof or change
<br /> t v the amnunt of such iustallments:
<br /> '; If uiider paragraph 18 hereof tlie Property is acquired 6y I.endcr, all right, title and interest of Borrower in
<br /> �� ' And to any insurunce policies and in and to ttie proceeds tl�ereof {to i,l�e extent, af the sutns secuxecl b,y this hlort-
<br /> " � gage inameciistely prior to sucl� sale or acquisztian ) resultiiig from ci� msgc to the Pra��ert}• ��z•ior to t13e sale oc•
<br /> � acquisition shall pass to Lender.
<br /> e! 6. Preservation cad Mmaten�ce of Property; Leaseholda; Condomix�iums. I3orrower shall keep the Prop-
<br /> erty in good repair and shnil not permit ur commit tvsste, impairmeni, or deterioration of Lhe Property snd shall
<br /> � " comply k�ith the prca��isions of uny lease, if this \3ortgage is on a le.isehold . If this \lortgage is on ;� condominium
<br /> unit, $orrower sh�ll perform nli of Borrower's obli�;ations under the declai•ation of caidaminium m� master deed ,
<br /> F Ghe by-luws and regulations of tl�e condoirriniu:xi projeci and constitueni dacucnents.
<br /> 7. Protection af Leadez's Security. Tf }3orrower faits to perForm tl�e covenanis atid zigreements coutained in
<br /> this ti�ortgage, or if any action or proceeding is canmienced �vhich u�at.eriallv affects Lender'e interest in the Prop-
<br /> erty, including, but nut liinited io; enainent doniaici , iii.ulvency, code. e:�force2zient , or arrun�ements or proceed-
<br /> ings i�t�olving a bani:rugt ar decedeLt, L;eii Lender at I_ende;'s optinn , upon notice to E3orrocrer, tnav make such
<br /> appearances, disburse sucl� surns xnd take such action as is necessary fo protect I,ender's ic�terest, including, but
<br /> ,: ` not: liznited to, disbursement of reQsonable attorney's fees and entry upon the 2'roperty to make repairs. Any
<br /> -' ^ amounts disbursed b�� Lender pursusnt to tliis paragrnpii 7 , �vith interest thereon , s}�alt become addit.ional indebt-
<br /> ; eciness ofBorrower secured I�S* this 1lortgage. Unless Borrower �tni9 I.ecider agree to other tern�s of payment; such
<br /> °,` ' : ' nmaunts shall 6e pAyable upon notice froni Lender to Borrower requesting paS�ment, thereof and shall Uear inter-
<br /> � est from the date of disbursement ut the rate stated in tI�e Note unless paqment c�f iirterest ut such rate would be
<br /> ' cqntrary to applicable law, in cvhich event, such �Tnounts sl�all bear interest At tl�e highest rute perixiissible by
<br /> app�iea�ble lt�w. \Totl7ing contained in this ��arugra��L 7 sl'�nll require Lender to incur uny expense or do any sct
<br /> .v�~ 8. Inspec3iaa Lender may �n$ke or cau�e to hf �na�ic res�eonrtblc �iifries uf�en and irs��ectaons of the Prop-
<br />� . Cl'�3'� Fro�'::�,�.G� . tE:Af T..::C'�.el . ��1Qii� yli'� . a�OI'CJRi'.i` iiJil( ��. j �i'iJ� iJ :Lii�' .11�. il lI1nFJ�l'. t1iiU ajlC4ii1'lil� tCkL��.'Ui1iLUle VLiU�t;
<br /> ' therefor related to Lender's interestin the Prope.rt��.
<br /> " � ` 9. Cbndeatnation„ The proceects of uny -a�vard vr clainz for dzt�nages, direct or cocisequential; in connection
<br /> ' �vith sny� eondemnation or other txking of the F?roperGy , ol• ��art tliercof, or fc>r cnu�•ey�nce ii� lieu of. con�emnu-
<br /> '� s tion, are herebv assigneci and shall be paid to Lender. '
<br /> , e In tbe event of a total taking oC the Yraperty, t.he proceec3� siisil t:e ��pplied to t.l�e si�ms secured by this Mort- � � • „�r .� ;
<br /> # ; gage, �+yith tlie excess, if any, �sid to Borroaver. In t:lie e��ent of ta }�artaal taking of the Yro�erty , uzale�s I3orrower ":
<br /> , s' nnd.Lesider oth'e��rise agr�e in �rritis��, tGere shall b� a��plied to tl3e au�3xs cerured by � l�is ti'tor6guge auch nropor- � ?�'�� �
<br /> e+ � tian of the �roceeds As is :equal to tl� at proportion �vhich tlie smowit of the sums secured fay this 1�ortgage imme- ;��y, �¢
<br /> � diately prior to tii�e daCfl qf takin�; besis to the fair ii�urket. value ot tlee Yroperty iinn3ediately prior to the date oi � w :
<br /> *' , , taking, tvitkt"the balbnce ut the prviceeds paid to Boi•rotit�er. ��� ;
<br /> 2� the_E�rup�:,i'ty ia akw�n.iutieu uv Burxvwer ur �i nitei� ieut.yce uy i.enuer i.o i'sorru�ver that tlae condcunnor otters �
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<br /> ; �. tcs �3r�.:.e an,.,.S1.:;'d or 5Ctw1e �1 eiau�l ic,r �a�i�a�gaa, Z;uii �w��r� l.s�lo� {•u i�eayuxiu .i,u ��:t.euuar wichaii �U� ciays ot tiue clate � �, ;:' �,
<br /> of siteli :notice, T,�nc3er is ;authorize�i to eollect � nci appl�� ti�e p3�eee3s at Lender's opti�n ciLher Lo restoration ar
<br /> �Aairof the �'rop(srt� or to the eums secured by t?us \Jori_gage-
<br /> i3nleae Lender and ]3orrower nGhanvi�P s�gree :n \9M{liy�� An,y W�tch a;>rlicatien rf pracced� ta �:ii:cipa� sh�l'.
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