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<br /> � If utide�r � r�r:a�ra��1� 18 f� ereuf ti�i� E'rol+r-rty i, �.�!�? .�r ti �r F�' ropertp i � otiu.�ru� a�cs ac�rExi :cr� ! fn• f .ender. l .ende,r � �
<br /> �;hmll aPP�'l, np ts� t�. r Ehun i:nmediat,ai}• 7�rior to thcr .�.tic oi thv �Propi�rty r� r �t .. uryur�ltion h}, 1 . • ider . :in}� !��' w:dr
<br /> Prel<i by Lend4•r st. € he timc of applic:stian as :� crec !:t aF„ainst ti �� • siuu> �<•ceirciE h� � i � in �t� �re�;u���
<br /> 3. Applicatica of Paym,cnts. LTnies:; �. ��pEirabic L.0 �vnvides utt�envi�c. .� : ! F � ,�yzi� c�nte nreei��e�l by >T.cnder
<br /> under the NoLe unr#: pnrugraplis I ri�d 2 h���c�f ,Lail � �c a�i��liu! F:� Lrniter fir.;t m � �ae.yu�ent ��i nniounts puyrttsle tu
<br /> � Lender bp Borioµer under paragrup�i 2 liercof , t6eu � u izitci � wt �i.iyahlu on � 6< '�okr zn� i u ;; : ,:t,ezre Advunces, if � � �
<br /> nny, and then t�r ti��q } �rinCipat uP i,he l�olc unct to the prinripal c�f i'uti�r� Ad � �ncrw _ it' a«y . -- �
<br /> � 4. Chargps: I.iens. 13orrower sh:Ll: pay al l taxes, assessinents and crtlrer char�<,=, fines anr] imposition5 attrib-
<br /> �p utshle to the Prop�erty whir.h may zxtE�in :: ,>rioritv over thi, Ziortgage, and gm�r:n�l rents, iP :nuy, nt Lender's
<br /> ; �` Cp option in the rnannei provided under p,sar�graph 2 hereof or by s3orrocver ivaking paymerit, when due, directly to
<br /> [ �j the puyee ihereof. �orrower s!zall prompti.y fuzniah to Lendcr all nahice� af amourstie due cinder tl�is paragru�h ,
<br /> Q and in the event Borruwer sliail maka �isy:n�ent direcily , I3orrotii er eha11 i�rromptly f *arnish to i.�nder receipts cri-
<br /> � deneing such payrn-ents. Iiorrower eliall promptly discharge nny lien �vhich ud� {�r;uri�y uver t}iis \;ortgage ; pro-
<br /> vided, thnt Borrower snait not be re�uirecl io ciisclrarge ¢4nv suck lien so Iong as Borrow•er st�alt agree in writing to
<br /> � the payment of the obligation sEcured by sucl� lie�r in a �narnu a.cceptable to Leuder, m� sliall in �oac! faith cor,teat
<br /> J'� svch lien by, or def+end enforcement oY sucir lien in ; leg�f piocac �; i�igs .viiicn oper.xte so nre��ent the entorceme�t of
<br /> the lien or forfeiture of the Property or a:zu Z�art the;ccf.
<br /> � ,, S: Hazard Insur�ce. F3orro�ver'shall keep 'Ei�e improcecnents now existiz�g or I�creafier erected on the F'rop- ' . "
<br /> , erty insured isguins� loss by fire, hazQrds included tivithin the term "extended cover�;e'; aina :::.�1� ok:l3er liuzrxrds as
<br /> ` Lendermuy reauire nnd in such amotmts anci for sucli 2�eriods as LendF:r inay rcquire ; pro��ided , that Lender shall r; , `
<br /> noti requi;e that the amount of such coverage esceed tt�at amoun� oi coveragc required to pay uhe sams seeured 'by
<br /> this N2ortgage.
<br /> The insu,rance a�crrier ��roviding t3i� insc:rance sl:sIt i>e chosen 6y $orroFwer sut�ject to approval ��y Lender ;
<br /> pr�vided, that sueh approval shsll noi be unreasonabIy withheld _ :�II premiums on i:nsurance polic.ies shall be paid
<br /> ai Lender's option zn the nxanner provided under paragraph Z l�ereuf or by- }3orrocvez- �naking payment, w}cen due,
<br /> directly to the insursnce csrrier.
<br /> In the event any poIicy is not renewed on or before ten da,, s o.' its expiration, the Lerder, to protect
<br /> 4 . its interest, =aay, �rocure insurance on the improver�en�s, pay the premiums and such sum shall become
<br /> immediately due and payable with interest at the rate set forth ' in said note until paid and shall be
<br /> ; ' secured by this i�3ortgage. Failure bu Borrower to comply may, at option of T. �nder, -�onstitute a default
<br /> under the terms af tkis Mortgage.
<br /> �11 insuTance policfles aTid renewals thereof slrall bc in forrn z�ccepi.able to Lender und slrall include s stanilard
<br /> mortgage clause in f:ts�or oi and in fornr accepiaole io Lender. L�nder shall have the right. to Izold the policies and
<br /> { renewals thereof, and Borrower shall promptiy 'fuTnish to Lender �lisenewub notices nnd aII receipts of paid pre-
<br /> . x miums. In the ever�t of 1oss, Borrower �l�al! gi�•e ,>rompt notice io tlie insurancec aarrier aud I.ender, and Leiider
<br /> � may make prooi of loss if not made promptiy by f3orrower.
<br /> � Unless Lender and Borrower other�vise agr�e 3t1 R'17EI716, insurance proceeds shull be applied tu restoration or
<br /> repair of the Property damaged; provided suciz resioration or re��uir is economical3v teasible :ind the securizy of
<br /> y this �tortgage is nat thereby impaired. � f such restoration or repair is not econoinicall}- feasible or if the secvrity '
<br /> J of this ;llortgage would be impaired, tlre "insurance �>roceeds shall be applied to thc ,izms secured by ihis i�forit,gage;
<br /> ; with tha exeess; i: a:�y; paid t� Borrocc�er_ If the 1'roperty is abandoncd b� Borrotvcr or ii Borzcwer f�ils tu zes�ord
<br /> ; tn Lender within 3C� days after notice by- Lender to Borrower th�.t ihe insurance carrier offers to settle a claim for
<br /> � , insurance henefits, I.ender is authorized to ,colieci and apply the insura�nce proceeds at LendeT's �ption either to "
<br /> rwtoration or repaiz� of the Property or �zo the sums secured Uy� tl�is -\Ierigage.
<br /> � ` Unless Lender and Borrower othersn�ise agree in writing, an_y such applicntion oi procee@s io principsl shall
<br /> notextend or postpone the due datc. cf *hu n���^t }�;; installments Feferred tc in parsgraphs 1 and 2 hereof or ckange
<br /> � the amount of such instaliments
<br /> If under parag2aph 1S hereof the Y_•opertp is acquired by I.ender, n11 right; iiil� und interesL of 73orrower �n
<br /> " and to any insurance policies and iii anr to the proceeds thereof (io the extent of tlze sums secured bv this ZSort-
<br /> � ° gage , immediately prior to such sale or ncquisition ) resulting irom claruage to tl�e �'roperEy prim• to the saie or
<br /> acquisitiomshall p�ss to I ,ende�:
<br /> 6. Preserva6ori �d Mmaten�ce of Property: Leasehoids; Condominiums. 13orro�ver shali keep the Prop-
<br /> erty in goodxepair aud shalJ not permit or commit waste, impairmeni, or deteriorai�on oi the Property and shall
<br /> { comply with the provisions of any lease, iI this \lorigage is on a leasehold . If this Siortgage is on a condominium
<br /> � , unit, Borro�ver shall periorm ail of Borro�rer's obligations under the deciaraciai of eondominium or master deed ,
<br /> >`' ' yhe uy-laws and re�u;uticrris vi tlie cuiiuciiiiiniuxn f>rojecr. anri consiiiuent documenes.
<br /> 7: Psotection of Leader's Security. II Borro�s•er fails to perform t.he covenairts and abrcements contained in
<br /> e:
<br /> � this 1lortgage, or ii any action or proceeding is cominenced «•hicta materialiy affects Z.ender°s interest in the P'rop-
<br /> t erty, including, bu� not limited to, e:ninent domain, iusol��ency, code eniorcement, or :zrrangements or proeeed-
<br /> ings involving u bankrupt ar decedent, tl�en Lender at. Lender'; aption , upon notioe �o I3orrawer, inay make such
<br /> appearances, disburse sucii sums and taxe such action as is necessary fo prot.ect i.e�der's inLeresL, including, but
<br /> not limi�erl Lo, disbursement of rensonable a 'ttorney's iees and entry upon the 1'ropert�� to make repair. Any
<br /> amounts disbursed �y Lender pursuant to ihis psragc•aph 7, rvith interest thereon, s}i�ll become additianal inaebt-
<br /> ` edness of Tiorrower �ecured by this llort.gage. iTuless ]3orrower ai�d I.ender agree to ather terms of payment, such
<br /> �mounts shall be payable u�on notiee from Lender to Borrower requesting payment �liereof, and shall bear inter-
<br /> est lrom the date of disbursement at the rate statecf in t,he Note ianless paz•ment of interest at such rate woul�i be
<br /> ` contrary to applica.b�e law, in whicl� event such amounts shall bear inierest at the highest rate permissible by
<br /> app$cable law. \Toehing contained ici this paragraph 7 si�:t11 recguirc 7.ender to incur anv ex�>ense or do any act
<br /> hereunder:
<br /> 8. Iaspection. Lender m3y make or cau�e to he inade rea�ronablc entries upon and in=pections of t:he Pro�-
<br /> ' erty; provided ihat Lender �hall give Borro�cer notirc � �rior to �ny �uoh inspectiors s�'recif��ing reasonttbie esuse
<br /> • . � �ii8i2fOi iZ1:i�Ei�. �.O �+:GS1fI�S i2i�22'CSL iU i�iz �ySO}�i:I'L\'. . . .
<br /> ` 9. Condem=satic�n. The proceeds ai ac�y sin�arci Ot Cl:illtl fo� damages, direct ar r,onsequentisl, in conneetion
<br /> r with ttny condemna�ion or pther taking a1 the Yroperty, a� p:�rt tliereoi, or ior cont eyauce in iir.0 v, ccr„3.^,.-�na-
<br /> . tiun, are herehy � ssigncci and sh:�11 be pai�l Eo I�ender.
<br /> ` In the event of a total taking of tl�e Yroperty, 'tl�e proceed; :Eiali be applied io iiie sunas secured by this l�€ort-
<br /> �� gage; �vith the excess, if rsny, paid to Borroti�•er. In tl�e event of a partiai taking oi thc Prope.rty, unless Borrower .-„�� � „� y
<br /> "- and Lender otllenti•ise agree in �vritmg, t��ere Ehall be apj�lied to Zhe sums secureci bv this �Iortgage such pro�or- ,,� . =.��;�
<br /> ; bioa of tl�e proceeds as is eyual to that p�-opartion wt:ioh ti�e amount of ihe sums secesred by ihis 11nri.gage irt�me- f =.: ,w"
<br /> diately pr3or to Lhe dxt4 of taking bean ao i3�e fair market ��alue of the Yropert3� iinxnediai�ly prior fo the date of '*�` 'y;
<br /> -< �" ' taking,:withti�e:�alsncebf tbe proceeds paid to Borroever. ` ` � '�-
<br /> If the I'roperSy is abandoneci by Borro�e2• or if aiter notice ty Lender io Borroi+-er thai the condemnor o33ers '"� '
<br /> 5 t�o atxa3:e �tu awnni ui� dettle x c;iaim iur wtu�agea, Fiorruu��er iaiis �o aes�»uu w Lenuc� �ti-itnin 3U ciavs, oi the ciate
<br />�� i>f s;1Ch 1ao�it:e, I.cn+.'.�e ia �suillui'izixl to u�iileuL t. uu tc}i�siy Lhr• }�i'u� txs� aL 'a.�iulrr'� u: �6iwi ciiLLr cee i��tarntiiu�� t�r
<br /> repait of the Ptoper�y or ta r.lie sums. ser�ared by tliis \tortgage. , '
<br /> L33iless l,ender zind Borrawer: oiher�v-ise agree in zvriting, anr suc;� aY�licstion csi proceeds to principal s l�ail
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