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<br /> � µ` - I# utader paragrapli Ib hereo# thc Proper6y is solt( o:• the i'rr�percp is other�vise r�cqi�ired b}� Le�ider. I.ender ' ' �
<br /> sliull appl��, no l�ter t.han-iinmediaiely- prinr tb thr 5.rlc . ot tl�r YroF�crty or its acquisit.ion bti� T.encter, :xnv I'unds
<br /> held by I.ender at the time of api>lication zs u credit aq.�izi�t tl�e sui� is �ccum�i h�• e }ai, \•lurt,}��igc.
<br /> , 3. Application o! Payments. Unles, a�>>[�iicable ]zL�a pia� i�ies otherwis�, ull ��nvii3ents received by Lencler
<br /> � under theNoEe � and� ra3cagraplis�-1 :�nd 2 i��reof shtill ix� qi�al�lied 1>�- I.ender first; in peayinezzf. crof apYonatt�s payssble- �t�o �
<br /> eF;>� Lender by Borrower under pnragra�yh 2 liereof, tllen to .int,�rest � 3:syable on tli� \ote attid on Futue•e Ac3vances, if
<br /> .r,.; �ny, axxcl tkien t,o the t>rineipal of tlie i��ote and to the ��rincipat �f b:uturc Acl� ances; if any.
<br /> ��. ; 4: Charges; Liens. l3orro�ver sl�ssli }:�uy ali ku.�es, assessnisnC� r�nd otlaer char�;es, .finc5 aaxl irnpositious nttrib-
<br /> , �� �„ ut�b3e to the Property which may uttsin a }�riority over tl �is � Ioa•t�uge; zincl �round rents; if :iny, at Lendar's
<br /> �; optiaxi; in the manner provided under ��aragraph ? hereof or h,y Borro�ver ii7aking r�ttiyment, n•hen due, directly to
<br /> � the pflyee thereof. Borrotiver :hull promtitly furnisli to Lencier zll notices af uniom�ks ciue under tt�is g;nragra�h;
<br /> � and in the �vent Borrq�ver shall innke p�ayn�eeut directly; �iorroticer �ha11 i�romptly iurnish to L��rxder receipts evi-
<br /> � deucing such F�ayments; I3orro�ver shnll �irpmpcl,y discharge �u�� ticii which !:as ]11'IOTILV OY'S'.3' t}ll� Jlort�age; pro-
<br /> py� vided,;tl�atliorrower shaJl not be required to discltiar�;e any suclr iien so long as 33arrower shalt agree in rvriting to
<br /> the payment of:the obligatioil seeured i�y suci� lien in a �nsnner acceptabie i o Lender; or s}iall ici good f�.ith contest
<br /> " suchlien #�y, or defeasd enforcetnent of sucli iicil in , le�;a! � �rticecd'an�s �vhir.,li oper.ttc to ��i•c��ent the entorcament of
<br /> tlie lien or forfeiture of the Property or any ;�t�rt i,herenf.
<br /> 5. Haz�trd lnsuranee. 1?arrotver � [�atl lceeg ti�i; improvemeirts no��• exietiug ur h�reafter ereeced on the Prop-
<br /> crty insiireci against loss by fire, hazarrls included �vithin %he term "extended coz er:zge", �tud such aGher h�.xards as
<br /> I.ender iizag require aiid in such .mmoun 'ts acid f�r sucli periods ns Lciider �na,y reyuire ; F>rorided , tliat Len3er shall
<br /> noE require'thstt i;he amouni of sucli coverage esr.eed t(iut amnuni oE co�•er:ige, requireci to ��ay tl�e sums secured '6,y
<br /> this �Tortgage:
<br /> The insurance carrier �.�roviding Clie insui•ance shall be ctiose,ri 6�• Burrower subject to upproval by Lender;
<br /> provided, that such ;approva,l shnil not tae unreasonably Fvithheld. _1l1 premiuczas on insurance policie:, sliall be paid
<br /> ut Lender's option in tl�e ixl�nfier provided undec t>aragraph 2 lierebf or by Borrower ms�king paymenG, u�hen c3ue,
<br /> directly totlie insurancc carrier.
<br /> t In the event any policy is not renewed on or before ten da,ys nf its expiration, the Lender, to protect
<br /> ; its interest, may procure insarance on the improvements, pay the premiums and such sum shall become
<br /> immediately due and payable with intere�t at the rnte seL forth in saSd note until puid and shall be
<br /> secured by tlus Mortgage. Failure by Borrower to comply may, at option of I.ender, constitute a default
<br /> under the terrns of this Mortgage.
<br /> All insuranee policies �.nd renewnl, thereoi slizill be in forrn ac:ceptable tu Lcudc�r ar�d shatl include a stundard
<br /> inort,gage clau�e in £aF�ar o{ and is� forin :�ccept�:Lle to Lender. Lender sha11 ha�•e the rig}�t to hcald f,tie nolicies und
<br /> renew:als thereof, and Iiorra�+•ea� shsti p:ozn�tly furnish t� l.ender a:l rce,e�s�al s�otices ai�<i ail reccipt� of paici prc-
<br /> miums. In the event of loss, 13orro�i�er shtill gi�•e prompt n�tice io t.he insurance cnrrier and Lender, and i.ender
<br /> may make �roof of loss if not made prompt.ly by I3orro�ver.
<br /> Llnless Lender a:nd Borrower atl�erwise agree iii «�riting, inaur:Lnc� ��ruceeds s}isll be applied to seatoration oi•
<br /> repssu of ilie Property i3amaged , pc•or•ided suc:h restoration or repair is cconuinically Ieasib.le niid ttie �ecurit� of
<br /> ` = thie 1'iortgage Ss not tliereby impaired. If such resiorsstion or repair is not economicalt,y fe.�sible or if thc security
<br /> of this �fortgage 4vould be impaired , the insurnnce ��roceeds shal{ !�e applied to the su�ns secured by this Mortga�e,
<br /> �cith the excesa, if any; paid to Barrower. If t.he Yropert}� is ui�ancioned by Borruwer or ii Borrower fails to respond
<br /> to Lerider within 30 duys aiter notice b,y Lender to I3arrower thst the insuranec c:nrrier offera to settle a claim for
<br /> insurance benefits, Lender is authorized to uollect; snd apply� the insurance proceeds ai Lender's opkion either ta
<br /> restoraiion or repair of thc Property or to tize suins secured by tliis \iortga�c.
<br /> Unless Lender and F3orrower other«-ise :tgree in writing, �u}• such applic:�tion of piro�eeds to prSncipal shali
<br /> n�t ea:tend or pnstpone the due date of t.he inonthl,y- instaliments referred to in paragruphs 1 nnd 2 hereof or c2zange
<br /> the amount of such instaitments.
<br /> If under paragraph 1S tiereof the Yropert,y is acquired b,r,• I,ender, all right , title :Lntl interesi ot Borrower im
<br /> �nd to any insurance poticies and in and to ihe, proceeds ti�ereoS tta the eatent of the sums sccurei3 bt� this 1Iort-
<br /> gage imix3edi�tely prior to sueh salr. or acquisibionl resulting from dsmage to ihc F'raperiy prior t� # he sale or
<br /> :tcquisition shall p:�ss to Lender.
<br /> 6. Pzeservatioa cmd Mmnten�ce ef Property; Leaseholds: Candominiums. 13orro�eer shali keep the Prop-
<br /> erty in good repair :�nd shall not permii or commi 't �vuste, im��airment , or deteriorstian of the Nroperty and sf7all
<br /> � compty tivitli the provisions of �ny lease, if t2�is llortgage i� on a lcasehnld . If tf�is \-lorigagc is on :� condominium
<br /> unit, Borrower shall pertorm ali of Iiurrower's obligations uiide�• t}�e deelarritiun of eonciominiuin c�r master deed ,
<br /> tha by-lawa and regulntions of ti�e condominium j;rojee; =ind cor,stituent documents.
<br /> 7. Protectioa of Lendei s Security. If Rorrower fai ls ia perionii Ghe ca��ensnts snd agreements cat�tained in
<br /> this 14ortg�ge, ox if anY aetion or proceeding is conzmenced which rnat.erinlIg affects Lender's interest in the I'rop-
<br /> erty, inciuding, but not limited to, eminent doinain , in;olti�ency , code enfurc4xnent , �r arran�enients or }�roreed-
<br /> ings invalving a bankrupt or decedent, then Lender at Lender', 6jJT•1017 , Ilj)Ori I]PC1GC t0 Borroiver, may make such
<br /> appearances, disl�urse sucki surns and take suc6 actinn as is necessary fo protect Lender's interes 't, iucludin�, but
<br /> nut iirnited to, disUursexnent of ressonable uttorney's iees and entry upon the Propers,y to make repairs. Any
<br /> nmounts disbursed by Lender pursuant to ttiis pnrs��;i•splx 7 , ���itli itlterest i,l�ereon , sh�, tl t�ecome additi�nal indebt-
<br /> edness of Borrower secured by this lfortgc��e. L3nless Borrower 3nci I..ender ss�ree to other t.erms of payment , such
<br /> ucnounts sha11 be �ayaUle upon notice froni I.cuder to Borrower requestin� pa,yment thereoi, uud sl�all be�r inter-
<br /> i eezt from the dste of disbursement u't tk7e ratc st:ated in the Note unless payment of interest xit such x�ste would Ue
<br /> contrary to applicuble luw , in whieh e��ent sucli arnounis slaull l�ear interesC at the highest rate permiesibie by
<br /> iipplicable law�. \'othing contained in this ��arag�apl� 7 shtil ] req��ir� T.erider to incur any expense or do �tny act
<br /> liereunder.
<br /> 8. Iaspection. l,ender may make or cau�e to i>e inacic x•eaGon:iblc entries upon � nd inspectivns of the Prop-
<br /> ert,y , prc��cided ti�at Leiuier shnll give $vrrotiver noticc � * rior to any sucii in�pect,ion ;�rer.iiz�inR r�unonable c�uae
<br /> therefor related to Lender's interest in che Yroperty:
<br /> 9. Condenxnatiou. , 7'heproceeds ot" any ari��rd or claim for danii�ges, direcu or co3�sequential , in connection
<br /> with a.ny contiemnation orother taking of the Yrapert�• , or ��art thcreot, or tor con�•epance in lieu of condemna-
<br /> tion, are hereby assigned snd sht�ll be paid to Ltnder.
<br /> In the etirent of a t.otal #aking of tl�e Ya•oi�erty; the procee.:is sl�ail ba a�pylied ta the nurns sccui•ed by this ��Iurt-
<br /> ; � gage; with' tl�e exeess , i( anti• , y�aid to ]3orrotver. 1n the e�� enC of :t }aaitraf taking �I the Yropert_v , iuzless $�rrower " �' � ' ,k� -�
<br /> aad Lender otl�envise a�ree in �vriting, tl�ere shall ' be spplied to clre swus secured bv tliis 1lortgage such propor- Y��;,`°'
<br /> tion af the pt•ooeeds xxs is equal to that proportiun whach ihe :�mount of the sums secureci uy tl�is i�lortgnge imme- � �
<br /> � diately prior to the date of taking 1>eAis to tlie iair market va(ue of ttie Yropert,y iinmediatei,y prior to �he date of ; ° .
<br /> taking, with the batanee of -the proceecls paid to Barro�vex•. ' � "`
<br /> _ �. If the Yroperty is abandoned bv Borrower or if � fter notice }.rv Lender to Borro�ver that the condemnar offem
<br />� to inake an_an�ard "oi settle a claim for aaniages, Iiorru«•er fails to rest.7ond to Lcnder n�ithin 30 c:ay "s of the datc �� '
<br /> of suci� natiee, Lender is �ut}�orued to r.�llect and � p�>ly the proceeds �t I.ender's opt.iou eitlicr io recL,oratiot� or '�"�'`
<br /> repair of the Property or to the sums secured by tliis liui•tgage,
<br /> li�less Lender � nd Borrower oti�er�vise agree in writing, any such applicntion oi proceeds to priucipal stiall
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