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<br /> �� If under �ara ra h 1R here , _ „ i �
<br /> � g p of the �'ro��erty is solci or ihe Yroperty i, o 'thercvise :�cquired 6y I,ender, I:.end�r
<br /> � sh�31 ap��y, no later- thun � iinznediuLr.lv� �arior� to� �tlt4 �a�le c�i �tkie Pro�iert�• c�r ikx acc�isicition I:i}' ] .cnde�r, ririti- I'unc9s � � �
<br /> °'V � � liefd by I.ender at the [ime of np��licaLion as s creeiit aguinsi tlie swn� c ru � c�d by th5s �lortgn��. �
<br /> °!".fi 3, Application of Paymer_ts. LTnius� u�7plicahlc law ��rovidca othc� �� �;e xl] E7a��me.s�ts reccived by I.ender
<br /> � under tihe I�Tote mnc� paxagrapl�s 1. and '2 hcrcof sl�a ll bu a�>��lic <t I�y i,e:n�3� i tu•s# in psyment oi :ixnounts �� �yable to
<br /> Q . Lender- by 33arcower under paragra�tt 2 hereof. t}ien t<� int.erest payaGle on tlic :v�ote and on i'uture Adv;�nces, if
<br /> � �-� a��y, and then to ti�e principal of ilie itiTote an<i to 'thr princi��al o£ I�iiture Ad4 snce� , it cinq.
<br /> � 4. Charges: Lieas. Borrotiver sf�al4 psv 1 !1 tazes, assessnzents stn�i vtl�er charges, kine_4 and impositions uttrilr
<br /> f,,,,, utable .to the 1'roperty which mmy sttain .� priority over t13i� _lS�rtgage, aii�i ground rents, if ar�y, at Lender's
<br /> � ' �, option in the manner provided und�r p�i'+�g�'a�h 2 liercot or iay I3orron er making payment; schexi dur., 'directly' to
<br /> + the payee thereof. $orro�ver �hall promptly furnisli to I.ender all- notiaes of stnounts due uncler �his paragraph ,
<br /> ,� ; , and in .the euetit Borrower sl�all isiake pa,yiuent directly,' J3�rro�cer eliull promptly furnisli to Lender receipts evi-
<br /> clencing suclz payments. Borrawcr sh�tll �irom�3tly discltarge any lien which h�n prioritq over tliis 1'Toztgage ; pro-
<br /> 9� vided,.tl�at $orr.otuer sh�til iiot k�e 'required to rliscli�rae an,y sucti lien so Jong ss Borrnwer 5hall agree an �vriting to
<br /> t,he puymenL of il�e obligatior: secured b}r such lien in :ti 3nanner :tccepiiible to I.cuder, or shall in �ood fuith contest
<br /> such iien by, or defend enforcemenf, of sueh liun iir, legal praceeding; +vlzic}r operatrt: to pre�•ent: the enforcement of
<br /> { the lien or forfeiture 'of the Froperty or anv pa�rt tl�ereof. '
<br /> S. Hazard Iasuranee. Bbrrower sl�all kee}a ti�e iruprovements no�c existing or }ieresfter erected on fhe Prop-
<br /> � s ert5 insured sgsinst loss Uy frre, hazards iiicluded within the term "estended covernge", szid sucli �tl�er h�eznrds sss
<br /> ` s I�e:;der :ntuyr¢quire and ' i�� suc[� aruouctes tand for sucii periods as Lcaicler iuu}� require ; provided , th�t Leiider shal}
<br /> � - ' not requira that the �imaunt of auch cu��erage exceed Cl�ai aurouni: e�f c���eruge requireci to pay the sums secared 'by
<br /> `+ ' this D3qrtgnge.
<br /> The insurance carrier proe�iding itie insurs�ice shntl 6e cl�osen b,y I3orrowcr sctt�jecG to appravst bc� E,ender;
<br /> provided , tliat such ,ap�roval shall not be uureasonsUlv �vithheld. All premiums on insurxnce pulicies sl��ll Ue puid
<br /> , . � ' at Lender's option in the manner provided under �iart�grnplx 2 hereof or i>y Borro�ver maki�'�g payinent, �m�X�en due,
<br /> " directly #o the insurance carraer.
<br /> In the event any policy is not renewed on or hefore ten days of its expiration, the Lender, to protect
<br /> its interest, may procure insurance on the improvements, pay the premiuras and such sum shall became
<br /> immediately due and payAble with interest at the rate set fort.h in said note until paid nnd shall Ue
<br /> ; secured k�y this 114ortgage. Failure by Borrower to comply may, at option of Lcnder, constitute a defautt
<br /> ; under the terms of this A2artga�e.
<br /> � ; � �All insurancc �olicies au�i � rene�vats Yliereof slanll be ir� forin accept.at��le t,o Lender end� shnII include � a sf.andard �
<br /> it�oitgage clause ir� fayor of a.nd in forin ucceptsbic in Lendei•. Lendei• sl�nll l�ss�•c t}ie right t,o liol(i the policies artd
<br /> renewals thereoi, and $orrower shall promptly furnish to Lender alI reneti�:ll uotices und al] receipts of paid pre-
<br /> rniums. In t3ie eveirt of loss, Borrower shxll givc prom�>t notice. to i he iusurance cyrricr and Lender, und I.ender
<br /> may make proof of loss if not made promptly by Iiorrower.
<br /> Unless. Lender and Borrower otlier���ise n�;ree in writing , insurance }aroceecls shall bu u}�piied to restorution or
<br /> repair of the Property dama.ged, provideci such restoration or re��air is economically fcasible :uid ihe security of
<br /> this A4ortgage is not tiiereby impaired. Ii sucki resta•ation or repair i: not ecoiiumieally feusiUle ar if tlie security
<br /> of this 1'fortgage tivould }�e impaired , ilie insurance proceeds shall be :ip}> lied to il�c suins se.cured by tl�is Aiortgsge ,
<br /> with the excess, if anq, paid to I3orro�eex•. If the Yiropert}� is al.�ancloned }:»� I3orrower or il F3arro�t�er fails to cespond
<br /> { ' to Lender �viihin 3Q days after notice by Lender to Borro�ver i lu�t the insurance carrier oYTers 'to seitle a elaim for
<br /> insurnnce benefits, Lender is a,uthorized to colleet �nd appl�� ihe insura3nce proceeds �t Lenler's option either to
<br /> ' r>storatian or repair of the Property or to tlie suxns secured in tliis \Iortgage.
<br /> ? Unless Lender and T3orrower oCherwise agi•ee in writin�, any such npplicatioxx ot proceeds to principal shal!
<br /> , not extend or postpone the due date of i,he monthly installinents referred to in p:�ragrnplis 1 i3nd 2 hereof or change
<br /> the amount of such installments. '
<br /> " If under psragraph 18 hereof the Yropert,y is aoyciired b,y I..ender, all riglit, title aind inierest. of I3orrower 9n
<br /> and to anv insurance policies and in and to the groceeds thereol ( to the exient of the suni� secured by this ?blort-
<br /> ;' gage imiuediately prior to ,uch sa�le or acyuisition ) resulting from dauiagu to t,he i'ropert�- prior to the �ale or
<br /> � ' :�equisition shall pass io Lender.
<br /> 6: Preservation mid Mmateaance of Property: Leaseholds; Condomiaiums. 13orrower sliall kee�> t2�e Prop-
<br /> erty in �ood repair 3nd shali not permit or commit �vaste, iinpairrnent , or �.ieierioration oi i,he Yroperty :� nd shall
<br /> , comply with the provisions of :xny leuse, if this Alurtgage is uu a leusehold . If this \Zortsage i� on s condominium
<br /> unit, Borrower sl�all pertorm �Il oi Borrower's obligaiions under the decl.iraiion of ca��ominium ar master deed ,
<br /> t•he by-laws and regulntions o{ tlie condominiu�u projeci anci constituent documents.
<br /> 7. -Pc,olectioa oi Lendei s Secur'xiy, If Borrower inils to perform the covenants and agreeinents cont.ained in
<br /> this �TorCgage, ar if any �ction ur proceeding is coran�enced �vhich mx�teriuliyxffects T:en�ler's inierest in the Yrop-
<br /> erty, .including, l�ut i�et lin�ite.d to, enzinent, c3onissin , insol�•.en�;y, code enfurc�ttient. , �r arrangecnents �r 1�roceed-
<br /> inga involving � bankiupt or decedent, klien Lend4r at T.ender's opt 'iun , upou noti��e to I3orrower, inay make such
<br /> ; appearsnces, disburse such sums nnd t.ake �vch �+ction as ae n� ce�swry� ia ,:c�icct �len�ler's in*eres*, inc!udix�g, hut
<br /> not limited to, disbursement of rerssonable attornc�• '� lecs .ind entry upoit ihe Propert.y to inake repair:;. Any
<br /> amounts disbursed by Lender Y�ursuanb ta this paragraph 7 , �vitl� intcresi thereon , shall becoine sdditioaal indebt-
<br /> edness of Borrower secured by this �lortgage. Unless Borro�ver ancl Lender agree to otliei• terms of .payment, such
<br /> amoun#s shali be payable upon notice from Lender to Borro�ser requesLing psymenc• thereof, aud sliall bear inter-
<br /> eat Irom the date of disbursemeni xt tiie rate staced in the Note unless j�a,ymeni ui interest ut such rate would be
<br /> contrary to applicable la��� , in �vhich event. such amounts rk� all bear intemsi :it the highest rate permissible by
<br /> upplicable law. 1Totl�ic3g confainc�c9 in this ��sragr�ph 7 shall irc�uire I.ender to incur any expense or do nny .�c�
<br /> ` hereunder.
<br /> ", 8. Inspecfioa. I�eiider may inake or c�use iu bc uiude rensonablc entries upon :ine9 inspections oP the Frop-
<br /> estY, provided thxit Lender shall give 13orro«•ei• n�tice ��rior co :u�y �ueh in�peni,ion ���ecifyine* res,onai�le cause
<br />�. � , ��:8T8f:i� i"Ci3;�:.c: . til I.di.i':c;a a :Le::'i:s iil �iiti; �' ��Ci:.\'.
<br /> 9. Condemaation. The procceds of any �x�vtird or clnim for dnrn�3ges , direcc ar cousequenti�� ; in �rn�nectSun '
<br /> w�ith sny condemnxtion or other t�kiz�g uf tl�e Yroperf.,y , ar ��art tliernof, or for coin�e��ance in lieu of conclenn�a-
<br /> � tion, are hereby assigned und slinll be paid to Len�3er.
<br /> . In the everxt of � totai t.aking of the .1'ropea•ty , cl�e }�roceeds �linli be :tl�pli��� i ti� ihe Sum� securec9 bv this :�Iort-
<br /> " - gage, wiLh the excess, if aia,y ; �aaid to Sorro�vez•. In tlze e��eut of u. f>:�rti�l taking of the Propertp, unless Bormwer j ' "
<br /> ,w°� ,
<br /> and Lender otherwise agree in writing, ti�ere st�all be applied zo tl�c suans secured isy chis Dlortgage suc;t� propor- � ,;� �„m
<br /> � � tion of the proeeedE as is equal to that pro��riic�n which tk�e u7�iuunc of tlie sums aecured by this btortgage imme- ' �� ,
<br /> � diatel3y prior fa the date of takitag bea,rs to the f�.ir naazket i�aluc uf tkie Yroyert.y, iinmiadiately }�rior to the clate oi sg , .
<br /> taking, with the batance:of t�ie proceeds }asid #o Borrower. ��.:`
<br /> , : ; I£ the Pz'o.perty is :abanduned b�• Borrower or if after notice by Lender fo Borrower tl�at the oandeiirnor offer: � -
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<br /> , to :nuKa a;i awsru 4r s�eccIe x cisiui xui- uxi�in�e�, T>ot•ruNtir xuiia tu ��cF.uuu i,� Le,,�x�r s� iii,u, 3u u,.�n �: iLe 3ata
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<br /> + . . W� &l1U�i l3V�la:Cy..Z+C4Ur1'�. iR �3iLL.G11VY'lwC4l {v .i:V11V4i .hiail U}I�i'a} � i.iat fiY�iBuQi�e Ai�� l.c:�::�i.i'�� i/j.i���il G:i�.�l�:. LJ I'CSi� fs'::1:,i0ii US' '
<br /> repair af the Property or ta the suu�s aecured by tliis �io;•tgage.
<br /> U'nless Lender and Bprrower otl�er�vise s�ree in «�ritin�, any such application of proceeds to priucipal shal!
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