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<br /> If underyaaragraph 18 hereo( khe Property is sold ar tlie Yropert�� is otl�er�i•ise :ii�quimd by I,encier, Lender
<br /> shsll up�l5', no luter ttian iaumediately prior to thc sule oS ti�e Pi•ot�erty or iis acquisitiot� by l:.encier, anv Funds
<br /> ]ieid by Lender ac tl�e tirne of ap��lieation as a etec�it agains[ xl�e sums seaured h�� this �Iorie;ag;e.
<br /> t^r� 3. Apglication of Payusents, linless appiical�lc lair �>ruvides c�tE�crtivise, alt payments received Uy I,ender _
<br /> e7e un�?er the iv`ote and t�aragrapl�s 1 and 2 fiereuf slcull bc .ipjilic:ti 17�� T.cat3er first in pa,yment o( atnounts pavable to
<br /> �;i T.enrler by Borrower under ��rtre�rapli ?, liereof, tLen to interc:si l�a}�ab1e ti�n tlic 1Totc anct on f�'uture elctvances, if
<br /> �:, any, and fl�en to the Principal oi thcd Note a�d eo flie princiiaal of F`uture rLc���sizees , if t�ny_
<br /> �;; 4. Chargess Liens. $orrower sh:�Il ��uy alt taxe:, assessmeriis and ot-her charges, fir.es and impositions attrib-
<br /> r,�—; utabte to the Property� zv}xich may r�ttain a priority over tliis 31or# gnge, and grozmd rents; if any, ai Z,ender's
<br /> � # option in ttte n�anner prow�ided under'paragrarah 2 hereoi ar t>y 13arro�vef �uakin� Yasyinent; �vhen r1ue, tiirectly to
<br /> � the payee thereaf. `Borroiver shnIl pro�nptly furnistt to I,ender alt notir,es of :�moiints due uinder tl�is paragraph,
<br /> ssnd in the event Borrower s}iall make ��aynzent c3irectly , I3arra�ver slx:ill � �rarnptly ; ��rnisii ko Lencier receipts evi-
<br /> � dencing such payn�enfs: Borrower sha,li prain��t.ly diseharge :�ny lien which lias priority over thi� �Iortga�e ; pro-
<br /> vided, that Borrower slsalF not ue required tio disciztix•ge aa�y suah lien so long ns 13orro�c�er sliall agree iu `ti�riting to
<br /> Ghe paymeni of t3�e c�bligati�n secured uy sue3i lien in c� iz7anaer aeceptable to T.encier, or sliall in good faitll contest
<br /> � such lien uy„or-defend enforceinent of �uch lien in , legai �>roceedinfis �vhiclr o}ier� te to prevent, the eniorcement pf
<br /> the lien or forfeiture of the Yroperty orany p�rt tl�ereof .
<br /> 5. Hazard Insuzaace. Borroiser shail keep tl�e imiarovements nau• eaisiing or l�ereuiter ereeCeci an t23e Prop-
<br /> ert�: insured againat loss Ly fire; hazards 'included �vithin the term "exiended coversge", arid suel� oil�er hazard; as
<br /> Lender inay require and in such ai��aurits unci tor suclt ��ei•iods :is Lenc3er mny- require ; pro�•i�]ed , ihut Lendcr shail
<br /> not require tht�t t}ie amount of sur,ti coverage esce.ed Ih�t smount oi coversge required io 4�a}� t.he sums seeured 'by
<br /> this Mort�age.
<br /> The iz3suranee c:arriee• ;>rovir3ing ttze it�surauce shali t�n chosen k��• Borroa�ei• scxbjeci to appravaf by Leader;
<br /> provided, that such sp��roval shall Tiot be uureasonablp ���ithlield . :1I1 premiums on insurunce policies shxll Ue �sid
<br /> at Lender's oniion in ihe inaniier proaided under pziragrapli 2 liereof or by Borrocver rnal:ing {�syment; tivhen due,
<br /> directly to the insurance carrier.
<br /> 7n Lhe event any poiicy is not renewad on or before ten days of its expiration, t2ie Lender, to protect
<br /> its interest, may procure insurance on the improvements, pAy the premiums and such sum shall become
<br /> immediatelv due and payable with interest at the rate set forth in said note untii paid and shall be
<br /> secured by this Mortgage. FaiIure by Borrower to comply may, at option of Lender, constitute a default
<br /> under the terms of this Mortgage.
<br /> All in=urance policies and ren�cc�als tlicreaf shxll be in form accepti�ble to l.ender and shall inciude a staudarei
<br /> morcgage clause in tavor oi snd iii iorm acceptable to I,encler. l.ender sh¢Il huve the right io Lolcl the policies snd
<br /> renevvals thereoi, uud Borrower s}3a11 ;�romptly furnish to Lender alt renewul notices �nd all receipts oi- psid ��re-
<br /> miums. Fn tlie ecent of loss, 13orrower shall dive �grompt notice tu rhe insurance carrier and Lender, and Lender
<br /> inay make prooi of loss if noi ma.de promprtly by 13orro�;�er.
<br /> Unless Lender and Borrow�r otherwise agrce in wrizixig, ansurance p:•oceecis shall be upplied to restoration car
<br /> i•epa`ir of the Properiy dazna�ed, provided sucki re�toration ur re{->uir i, econoinicxxily feasible and the securiti ot
<br /> this ZZortgage i� not therebv impaired. If such restoration or repair is not ecnnamically te� sib3e or if the security
<br /> of tl�.is 11ort�uge would be impaired , il�e insurance proceeds Shall I ,e ap}31ied to ihe sums seeurec3 Ly ihie �iertgsgs,
<br /> tivith the excess . if any; paid to 13oi•ruw�er. tf che I'roperty is ak�sndoned hy I3ori•on�er or ii Borroncer iaiis to respond
<br /> to Lender within 30 days aiter notice by Lender to Borrower thai the insuraz:ce csrrier offers te� setile � cPaim for
<br /> insurance uenefits, Lender is nuthoriaed to collec� and apply the insuratice proceeds at J.ender's op 'tion either to
<br /> restoration or repsir of tlie Property or to the sums secured ��� tliis \Iortgage.
<br /> Unless Lender and }3orrower otherwise 3grer, in „�riiing, an�• suci� apr�licaiion of proceecis to principal Eliall
<br /> ❑ot e�end or posipone the aue daie oP tlie month3y is�stutlinents res'erred to in paragraphs 1 anc� 2 hereoi or cliange
<br /> the amount oi such instailments.
<br /> If under par�sgrnFrh 18 hereof the Yropert}• is acquirecl by I.ender, al ! right, title and interest of $orrawer in
<br /> and to uny insurnnc.e palicies and in and to the proceeds thei•eoi ( to ti�c extent of the surns secureti hti• ihis \1orG-
<br /> ggge immediately prior io �ucli sale or acqui�ition ) resi2ltin�; irosu daiun�;e to che ProF'.�ert�� prior to tlie �ale or
<br /> s aequisition sha11 pass to Lender.
<br /> S. Preservatiqn cmd Mcantea�ce of Property; Leaseholds; Condominiums. Y3orro�¢er sha31 keep the Prop- '
<br /> � erty in good repair and shall not permit or cumnait waste, impairmeni, or deterioration oi the Properir and shull
<br /> ' comply with tihe nrovisions oi r, n�� !ease, if this � Iorig2ge is un a leaseholci. If this liort,�age i� on s condoininium
<br /> unit, Eorrower shull �>eriorm alI of Borrower's obtigations uncier the, declaration of condaminium or master deed ,
<br /> the by-iaws siid re�ulaiions of t.he condominium proiect :k.zd const,iiuent doctunent�.
<br /> 7. Protection af Lender's Sacurity. If Bprrncier 1 ,ijlc in norfnr:p rhn �� � �«„ �" a;;� ��PL'8TY1(CiLS G6AL37IlBf� ITl
<br /> tl�is \Sortgage; or if any t�etion or proceeding is con�menced which m�ieriuIh� affects Lender's interest in the I'rop-
<br /> erty, including; but not liinited to, eminent docnain, insolvency, code euiorcement., or arrangements or F3roceed-
<br /> ings 9nvalving r� bunkrupt or dec:edent, ikien Lender ai I.ender 's option , u�ao�i notice io Borrawer, irxay make such
<br /> appesrauces, clisLurse sucii sums snd take such uction a� is » ece�ssry to proi.ecc Lender's in 'terest, inciudzng, but
<br /> not ? imited to, disburseanent oi reasonable sitorney's fees sz:d entr�• upon the Propert}- to make renuirs. �nv
<br /> atnounts disbursed bp Lender pursuani to this paragri�pla i , ivit!i incei•est, t:hereon , sizall kaecome add 'ational indebtr
<br /> edness ot 13orrower secured 'ny ihis lfortgage. Unless Fiorro�rex• and I.ende.r aeree to other terms of psyment, such �
<br /> � r��naunts sh�ll be pavable u�on noiice irom Lender [ o Borruw-er reyuesiing pat-ment 'thereoz, and shalt bear inter-
<br /> est fzom fhedate of disbursement at. the rate staf,ed in ihe \Toie untess psynient of interest ai such rate would be
<br /> cont:zary to app]icable 1a�v, in whicli event such amounts shall bear interest ai the highest rate permissible by
<br /> uppiicable 3aw. lothing r.oncained in tl�is paragrapl� 7 sh:ill rcquire I.encier to incur any� expense or do any aci
<br /> hereunder.
<br /> 8. Inspection. Lender tx�ay anake or cuuse co he macic tessonablc enfries upor� rznd inspections oi ihe Prop-
<br /> erUv, l.+rovided �3�st Lender shul ] giwe Rorroccer aoti�o i +ric�� + o sira. �u��i� i�spe��rcS�n ��eoiYvin � resr,ons6le cailae � � � �
<br /> +�e�Ara: ^e!sfed !n I_cadrr's i^.:crost � � Y?:c Y.oNertr.
<br /> 9. Condemmation. The proceeds of uny s�vard or clflim Snr da�nages, direr.t or consequentiai, in connection
<br /> tivith any-condemnation or oiher iaking of tlie I'roF�ert��, or part tlieraui, or fr�r canveyance in lieu of conciemna-
<br /> tion , nre hereh�� sssigned and aU�:ll t�� paid to Lender.
<br /> In t,he event of a total taking of Lhe Ym�>ertg, zhe 17roceeci� sh�ll l,c applied io tlie sums secured by this \4ort- � i , ; �
<br /> gage, with the �Ycess, ii anv , paid to Borr��rer. In zl�e, evr.ni of a partial irtkin�; of ii�e Propert��, unless Borrower '" ��
<br /> and Lender qtherwise a _ree in writin zl�ere shatl l�e :a > >lied to cl�e swx�s secureci by this �lorr, a e such � ..'�'
<br /> � K g, 11 € 8 I�ropor- r • ,s
<br /> tion of the proceeds as is eyual to ihat propurcion �chich tl�e amount of the suins secured by this lfortgage imme- '
<br /> ' � diately prior io the date of zaking besrs [o t.l�e iair �uarket raine oi the. Yropert}- imrnediately prior io ihe dafz oi ' � ' =
<br /> taking, with the fialance of tlie praceeds ;jaid to I3o3�rower. � , �j '°
<br /> :Cf the Yropert.y is aba�a�oned 6y $orro�+�er oe• ii .iiCer nocice b�• Lender to Borron�er t1�at the cond�nZnor offers
<br /> p�. taa. aw.i�w.C .�.L :.ti�'.'a.S� GT. Sci.tlf,� . ii i:jFi111� iUT'� UiilLb}�+t.a� �. �itlfiUWi,1' lhlia lU 1'L'S'}.3UI1C1 liU . 1�CIl(1CP \YlilllIl :iu oays oi tne date � .
<br /> M��� C:. ".:.C:1 .Ct1+-..^-.� T.S::1CiC:S� i5 .ili`..�14ii2iu ��U ::O]1GGa. � i32iii :14�t'+�� �+��% � }�«li;dCrJa A.L i�.cut1CP�� u}lilUll e1G11eT' iU J't;SbOT13L10II OT "
<br /> repsi.r o# t1�e Property or to the suins .secured b� this _liortgage. �
<br /> Unless Lender snd Borx•ower ntherx��ise agree in tivriting, any such spplication oC proceede to prin�i3�a1 shall
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