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<br /> � Il .iuider �aragraph 18 i9ereoi thc YroF�ercv is solci o+- ihc �'ro��erty is othe�•ise aaquired bt� T,ender, Lender �
<br /> shat4;aapply, no iater tlian im�nedi3tei,y �trior ia tl�c-salr oi itae Prnfmrts- or its :�cquisitipn t��� l..c�cade.r. arn= Funds
<br /> iield by Lender ut. ihe titne of appDitation <}s a credit u�;ainsk the suiins �ecun�d !�c tS�is :�Iortgage.
<br /> � APPJieation of .P�iqments. Ur�iess . a�il�tieablc lx�r Yara�*icies at}zenvi��., �ll pa�yxn�nta receivcd l�}- Lender
<br /> under €he �`ote �nd riaru�rapl3s 1 an�, 2 f�ereoi sliall i�c; ara;�lie�1 �>y T.e�rder tirai in ��ay iiaent vi ,izx�ounta pa,y�.ble ta
<br /> fe ; Lender by $arritwer unc�er paragra�l� 2 1c�reof, tlnei} co interesf ��a�,�tii�ie on the \ote auii +�n Future <�ci��nnc�s , if
<br /> any, sitd then #•n the nrineip�i af :#h� `�7aGe :�n+�i fo ki2e �7ranci�ut OI Futusc .1dG•ances; if atay .
<br /> � `. �'�l !E, .;CharBes. Lieas. > Horrorver aha11 i�ay ull Laxes, essecsinanf,� ri�nd c�f ,fier ch�e��, fitzes and impoaiLivx�.a atbx�h- ;
<br /> CQ , utaUle :#o the F'roperCy whic3z *nay actz�in a priorit�� �o��er fiais \tor#guge, iznd grounci rei3La;- if sny„ st Lender's
<br /> ` �, C� optiats in tiae -manner prnside+;l uudea• t�aragrs�al� 2 hereof on Isy Bormx+�•er m.ukizx� pu,yinent, �vli�at due, r3ireet,ig: :to
<br /> ' � tu the payee thereof: .Iibxrauer shail: �arnm�aat} furn"ssl� ta T.en�ler al! ' tiotires oi' aaaaou�3is due uncier tiiis �ara�rapla,
<br /> x O. snc3 im :t.�e esent. Borcvat4•er slaall malcc payr�aei�t c3irect3y�, £iorm�v�x� siaall ��ro�uptiy iuini�li !,a I.caidr_r receipCs evi-
<br /> � � cienois�g sucli payments. Borrqwer,sfittil psornptlp disciiarge n:i�� lien �cliich lr�s j91'IOCIC�' nver this tlnrtgageS PTQ-
<br /> � s , � widedz,.�1��tBcurotvershttll noL Ue required to discliar�e anysuc4i lian s� long as Sorrower sh3ll ��r�, it� �yritia� to
<br /> �� ; �, the �ra3*ment, of 3he 4b3igatiou secured Uy- sucli ]ien in :c ina.n�er accenin�ile to I��znder, or �hull in �ood faith contest
<br /> ,., ` q sue� lien bY, 9r detEnd enfozcetnenG af sue3i lien an , le;ul }aroceadiugs �vlzicli n��eratn� to ;arevent the enCorcement of '
<br /> � ' � the iien or 3orfeiture o£ t•tie Property or any s�arc t.iiereot. ,
<br /> ,. ,g 5. Hazard 3asuraace. Borrqwer sl�all ' keeP t:l�e in�;>rovenients no�v e:eistizig or here�fter erected an ttie Pmp- r `
<br /> z ; erty insured agsitjst lass by firt;, liaza.tds inclvfled �vitliin the Eerm "eatended caverss�e", and �ur.li otlier hazands as
<br /> T�ender inay require und in suoh amounts aixd i"or sitcl� �ieriotis us T}eiider izau�- require � prUvix3cii , #hat L;enc�er slsail
<br /> "' ' not requirel,hsit the �mou�t oisucL eorera.�e erceeti tiz:�c amuurat oP;coverage ;rec}uired to �iay the sums .senurecl' by
<br /> r : � � � ; � �
<br /> chis A3sirtgmge.
<br /> ; Th� insurauce carrier providin� Lh� ii�su�snce sh�li be cliosen bg� Bcarrower sul3ject io ap}�ravz�i t�}• Lendes ;
<br /> ` - ��rovided, thss svch apprnvai shall nai be unreaaonably tvithheld. AlC premiums c�n insuranee pali�ies shsll t>e psid
<br /> � ' at Lender's optRon iu t.he inarcner, pravided uncier ��arngrz�pli;2 hcreo£ or !�y Bormwer making p�yment, �vhen due, :
<br /> e directlyjta the insuranec qarrier.
<br /> Iu , tlae event any palicy is not renewed on or k�efore ten days o£ its espiration, the I.ender; to protect
<br /> , ;;- its intsrest, may pmcure insurance on the improvements, gay the prenliurns and such snm shald become
<br /> � imme�iiat�l}= d�e anr3 'payable with interest at the rate set forth in said note until - paid and shall }�e
<br /> � secured by t.3us ivior#gage. Failure by Barrower to comply* may, at optioa of Lender, �ronstitute a default ;
<br /> � un$er ' the terms of this Morigage. '
<br /> � � �1t1' insurarace policies anei renewnIs thereoi shail 6e izz tann aceeptabfe to Lencier and sha1E i:lcitide u stunclsrd
<br /> � y mort�ge elause in fa^crar of and :in forn� �cce��c;ihie to I,encler: I.ender s}�sii' 13ar�; tl�e ri�iat to::hold tlte. pQlicie5 :=nd
<br /> ' renewals thereaf, and :Borxocsei- shall prureiptiy furnish to Len�ier all reneH�nl not.iees ancl alt ' recreipta of psic2 pxe-
<br /> , t ' inintns. in the eceuf oi Ioss,. Barroner .hs�ll give E>rqizipL noLice co tlie in�ura:nce carrier �nd Lender, and T.ender
<br /> � ; inay :;nake pro�a# af ioss if not made pronsptl3� by, Borror;:er.
<br /> [Tnleas L.eurier ant! Bnrrower othe�rvise agrce in �criting, irlsui•aaee 1�roeeecl� shall be. ap�lierl to resGaratinn or
<br /> repair of tfle Yropert; dztmaged: prnvided sucl� restorntiosi or sepaia• is ecorionafc.iliy t"� v,�ii>le ;�nd the �zeuritk of
<br /> ^ . ; this 1lSartgaga ii not LE�ereby� inapaired, If such restar:stinn or regair is a�oi �rc�non�icalip feasil�le or if i�he a�curity
<br /> , of Lhis 3Sortgag+e �vauld L�e impairedr the i:➢sursnce }>roceecis shaIl i�e up��liecl io itxi suLi�s secureu by this 13ortgsge,
<br /> wiLt� tbe.excess; if:xny; paid to.Iiorro�vet: If Llxe l'ropri-cG� is abancioned 13c Borrolve:• or if $orra�c er fa'sIs ta respcind
<br /> � to LendQr: wi�hiii 30 daiys aiier ciotice by Lender to Borra��er th�t tl�e itrsurazice carrier offers ta se�tie a elazu� ior
<br /> r insursnae Iienahta, l.ender is autlioriaed to culleci aixd apply the iusur�;ice proceeds at I.ender's option either to
<br /> �� rest,oration or repair of Ehe Property or Ga the sums secured b}- tliis \Tortga�e.
<br /> q' ` Iin3ess Lendar anci I3orrotver o€her�vise a�ree in ���riiing, any such s}�K�licniiun of proceeds to principa! shall ,
<br /> :` -� not:e3ciend or postpone klie due ciate of t.he avonthly itzstaliments referrec3- t� in paragr�phs 1 at�d 2 tiereof or changc "
<br /> tho aznqunt of sueh inst�liments. '
<br /> ' If uader paragra�li 18 hereo€ tt�e Propertp is aequireci by Lender, ail rigl� 't, titte and interest of $orron-er in
<br /> ,. � ' and ta snp insczrnnee policies un+i iM snd t.o the praceeds s:liereoi ( t:o the e�teni oi tlte sums fiecured b�r this 1�Iort -
<br /> gage:imm�iiaf,elp prior to such rxie or ucquisitioni resu3ting irorn dacn�ge ta [he l'ro�erty �3rior to thc sale or
<br /> = scquiaition shallpa� io Lender:
<br /> , ; &. Preservatian amd Mmateamace of Property; Leaseholds: Caadomiuiums. i�orro«er shalI keep tlie 1'rop-
<br /> � ' p ertq in gaod repair aad shaii not �ermit or cammit �vaste, imp�irtnent, or eteterioration oi t.iae Property and �ha!!
<br /> � comply �vi4�h tl�e Uroyzsions oi uuy lease, iz t,his �Yortgage is on :� leasehol�3. If tYsis \Sortgage is an a condominiupi
<br /> " unit, Borrower �i�all per€orxn ull of 13orrower's obligations under the decisration oi condominiurn or �naster deecl,
<br /> ' " ' � : the by-lavrs �nd regu.laGions oi ihe condominiuni ��roject and consti 'tuenL docu�nenis.
<br /> � 7. Protecii,on ot Lender's Security. If Sorrower faiIs to a�erioriu i.he covenants anci agreements containerl in
<br /> this l�iortgage, or iC sny action nr proceed"ang is cosnmenceci whir,h inateri�3lti- affer,ts i.ender's interest in the Prop-
<br /> erty, inoluding; l�ut not Jisnited to, eniinent �ioinain, insvlyency , coc�e et� forcen�rnt, ur srraugernents or pracee3-
<br /> iugs involving s ,banl:rupt or decedent; then I�rider :tit a:eizder's �ption, u;�nn nozicQ to I3orrower, rnay make such
<br /> ,, ' , ` uppe�ranres, disburse sua}i sums and #ake sucli action As is necessary to }irntect I:ender's inierest, including, �ut
<br /> not>liuuted :to, diahursement of reasonak�le tittorney's fees and cntry upan r.he 1'ro��ei-�y t,a make repairs. Aay
<br /> ur
<br /> . , amounts di�bursed by I.ender pursusrit tu t.liis purngrupii 7, �eiili inierr:sc oliereuix, alixll �ecomo additioual indebt,
<br /> n' , edness af Box7»wer s�cureci b,y this lfort�ge. Uulessa .Bosrotxer aud I,ezider agme to other ienns of paymenG; aueh
<br /> � amoun�s shstll #ae �syal�le upon natice fcam liender to ,13orrowea requestia� �>ayrnent ti�ereoi, �nd shail besr int.er
<br /> oe� fram t2�e dmte of disbursemeus ac the rate stated iu ihe \ote unl�ss ysymenc of interest at sucii rate �vnuid 1�e
<br /> -contrary to applie:tble lax+, in �vhiati event suclr amouc�ts sk�aIl bear interest, at the taighest rate permiesible by
<br /> y uppliesble laa�. \othing contained in tltis ��ar�t�r�ph 7 s3ra11 d•equire Lender to inci�r any expense or du snv act
<br /> ' ` ' hereutidez ;
<br /> S.; Iaapeetiam. Lender an�tti� make or cau�e to I>r inazle a�easor�t� blc entries upan and inspectiona af the Prop-
<br /> erty, grox•ided tt�at Lendcar _17a11 gice Boaron�er 'i�orice ��rior to :ln�- ;:uc•1z , inspectipn .;�eeifyin� reasonnble r�vse
<br /> tlierefor radaGeci to I.xnder's interer,t in tlie Prnpercv,
<br /> � S.. ' Coad�maatiaa. . -T}ie proceeds of any awsrci or cfuim far danas�s, dirert or. causeyuentia2� nn canneotion
<br /> � with .tany- condemna#,io� ;or oLher taking bf c3ie I'rotxrty, orliart Yhereoi, or 1br cont•eysncc� in iicu of r,andeuina-
<br /> r„ ° _ t9on,.ax+� hereby aseigneci-and Fliail ise paid Lo I,ender.
<br /> �,,, ; - : Irrx' the e�ent of a total t.akin� of tlze Prop�rtv; the �iroceedv, sirall l�e ax�plied to tire �usns, secured by this �ort- �.
<br /> gage, �uit.tx t�e �cess, if any, ��aid to Borroti�er. In:the e��ent of a i�arGial �aking of the Yro�ert�, unless 13orrower �.
<br /> ' aud Lender aChern�ise a$a�� in xvriLing, tl�ere �1ia11 Ge ap�aliecl to tlie su�� secured bg� this \lortgage sueli propor- "
<br /> + � tion �# t.heproeeeds us is'equ�l to,that proportion ul�ich tlie ainnunt of the sum� secured t>y t,his \iarLgage imme- y;* � "
<br /> i � � ' diatelg prior # �Che dste of tni:ing bears to, the fair �narket value uf ihe ProperLy i:nu�etlisteli� priur to thc dat,e .of �.1 ��F ,�
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<br /> � •,: ���tthe.�ro z'GY�uCeb� Lhe rviceeds paxd to Bor,rawer_ ' : �`�'
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<br /> � µ ; pe ' audoaed: by Barrower or if z3f#ex notice k�� I..ender to Borrocver that;the ca�demnoz nfters ';;���
<br /> , ka �'natse �r. a��zd or '< t#le a et�iir f�rr d�znage�. Iiarrow�wr igiiQ tn rp��+ond #n t .pr.der �;i#hin :3f4 dsyg �f the dafe 'n�' ,`
<br /> e
<br /> : of puedi �tc�t�i+�e;• �.evide�- i� xx�bhorisec� ia res7�a�t nnr3-,nut�iv t}'�r- ��rocarx�s �t Lencle:•'s oyttun s.iilier 6c� raztaraciotx or '� ` �
<br />�+." repair of t6a Pmperty or �u t2�e suaus �ocuz^�d by fliis _llortgage. ��', ,.,.
<br /> €#ialess I,endei and Barrower': otllenai�e r�gnee in wricu�g, any such application ;o£ gmceeds to psincipal skasU
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