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<br /> � df utuIer pa,T+i(graplr iB i�rtr�pi the t'rir;�rec�� « a� �Srl i�r ri�e� } 'rcr�+eriv ia or,hensiwc ;a. .�_uirex,i kr •: l .t_ ritler. 1 .�;�2scier �
<br /> ;tial! sr;r�rl}, [i�a N»t��t Gtiwn aritxs+�c3�xLel� ��rt+��ir to tli�� hx.lu ui t1�+- Yrr����•rty or xt, Wc�}ui��� i�n t,4� t .c�u�l��r. �r!��' �'un�d�
<br /> � ifckl t�y l,rn�!�erut 4hc ttttx�e ui up��hcatton a,r �. crtdzt isg;iinat uew nnni+ ,ec•ureKt P,�� rhi. \ Yon �sge.
<br /> 3. Applicalioa o4 F'aym��tts. Usiler�� uF�plieu�rl�� lau � �rur-iritrn i�t}ierwi::c, all �r.�ycxlent,s rec��iti'e�l t�y l.eader
<br /> � ��tuier the �'ote aric� par�(�raplia 1 atici � ht.�r�w�C stfnll i,c� applied a � � ::tsier iirsc in ;,ssyu�c a�t oi a�n�runts p�syat�le � to
<br /> � Lender 4�y E;nrr��.r uncSer ��ar�grApli 'l liere�.>f, � hcii ro intcrra:,+ �,.iy �ttl�� c;n rlic Note :�r�d on ,utun� Ad�•ancuq , if
<br /> � uny, uud Ehen ta tkxe principn! ot the \ote unc{ 'to tl�e prinri� ixi ot F'uturc :� elvances, iE sny.
<br /> . 4. Chasq�s Liens. Borrower sbgll E>ay al, taxes, ssseaamentn �nd +>ther chsrges, hnes and icnpositions attri6-
<br /> r � utahle ta the Property which may nttain ;� ;ariority over this �tortgage, and �;round rents, if sny, a't Lender's
<br /> � ,� opti�ua in the manxt�r provided under paragrs��h- 2 ii��reuf or by fiorrorsar makin�; pnym�,nt, uhen riuc, directl,y to
<br /> the payee thereof. �orrawer �hali pramptly furnish to Lender all notices of acnour.ts c 'r��e under this paragrrrph;
<br /> � ancl in tha �veni Bvrrawer shalf �nake puyrae�tt u;.��.:ay, u�:, .,-,. �.° slial� C>romptiv iurr.ish to Lecider rece'rpfs evi-
<br /> ^ denein� suelx psymenEs, Borrower sliatl promp�tl,y disc��r�rge any lien wi�ich has prioritr- over this _l-Iortgage ; p.ra-:
<br /> � vid�,: that Burrow,er shatt not be required to �.lisct�nr�e any �;uc1x lien s� ]org as Borro�er st�ali a�ree in writing-ta
<br /> F ' the psyusent of the obligstion seeured l�y� sucla Jien in ir �nnnnr, �• acceptuble to Lendei•, or shalt in �ood faith con�est
<br /> `' " �suchlienby, ordei,end enfbrcementoE such li�cn in, .legrsi �>roceeditxes �vhicki operxt�. to prevent the �nfarcemeni. of
<br /> � � the iieu orforfeiture of the Preperty or any tsa�rt thereof. `
<br /> '," 5: Hazard Ins�raaee. Barrower Fhatl keeEr tt�e izxir>roremenis zYocv existinti or liere�:fter erected on the Yrop- `
<br /> erEy insured again.si� lass b� 1ir�, hwaards ineludecl trithin tlie term "exteuded covera�e", :3.ncI such uther hazards as -
<br /> Lender may require �ind iis sueh amounts �nd for such t�!�riods :ss T.ezicler m3y require ; prc�vided; that I,ender sl�ail
<br /> a not require th.ut tihc amnunt of such covcrage �xceed that ttmount of coverage required to pay the sums secttred "by ,
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<br /> tbis ik�Iortgage. ' . . .:
<br /> 'i'he insurar.ce carrier �rovidin� tl�e insur�nce shali be chosen bv Bprralver subjeec to approval by Lcnder;
<br /> rirocided„ thut suclx ap�rovat shal! not i�e unreasonably- cvithtxeld: All premiums on insura.nce policies sli.ili Ue paid
<br /> at Lender'soption in f,he munner provided urz€ter ��aragrapli 2 4�ereof or }iy Borrower n:sKing payment, when due,
<br /> ' " ' directly to the insuranoe carrier� '
<br /> ; In the event any gcalicy is not renewed on or before ten days of ifs expiration, the I.ender, to proteet
<br /> � ; ,y ` its interest, may grocure insurance on the 3mprovements, pay the premiums and such sum shall become
<br /> s;'"s immediately due and paysble with interest at the rate set forth in said note until paid - and shaZl be
<br /> �'. 3 secuzed . by this �l�ortgage. Failure by Borsower Co comply may, at option of Lender, constit:�ie a def�ult
<br /> `<, � � � under the terms�� cr# th'is��Mortgage. �� � � ' ° ��
<br /> ' { All insurnnce policies and renewals thereof sl�all be in form accepiaole #o Lender and sliall include a standsrd '
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<br /> ' ' inortguge clause in #svor of and-in form aeceginble to I:ender: Lendershall have t.he right to liold the �olicies and
<br /> s � : � c rchell � � . . . . } . . . �;� :. .. �.
<br /> ; renewals thereof; a�d Bor_owe. � __ ,arompti�c furnisk-� �o I,enrer a31 rene�vai' i�ot:ces anci atl receipts oi psid..gze- ;
<br />� . � miums: In the ever t of ioss, Borro}ver shull �i��e proinpi notice to kdie insura:tce carrier and S�ender; and Lendar
<br /> ; may make proof of loss ,ii not made prom�tl�- by, Borrower.
<br /> r � TJnlass i.ender and Borrower other�vise a�ree in �vriting, insurssnce proceeds shall be uppiied to restaration or
<br /> ' ; repair of the �'ro�rerty damage3, provided such resioration or repair is eco�oivically Eea.�ible : and the securiiy of
<br /> ; ihis i�iortgage ,ia'ncst thereby in�paired. ICsur,i-x r?str_ r. stion or repaiy is not economic�tfly ieasii�le or if the secux-�ty - ` . ::
<br /> ° of this liortgage would be impaired, tlie insurance ��roceeds shsiS lie applied ia ihe sums secured by this A�Sortgsge, '
<br /> w �vith ihe;excess, if a:ny; paid toBarrower: Ti th�e Yro��ert�* is aba�ncloned b�� Sorrower or if 33orrower fails to respond � ' f:
<br /> � ' s . ko Lender within 30 days after izotice by I.,encler to Borrower that ihe insurance c�rrier offers, to settle. a ,claim :�or `
<br /> -,' ; insurance,.benefits, 3.ender is auihorized ;to caIlect and apply tiie insurance proceeds ut I.ender's apEion either to
<br /> � restorntion orrepai� of ihe Proper6y or tq ihe surns secured b}- this liortgage.- ' `
<br /> y Unless Len�ler snd Borrower otherwise agree in �vrif;ing, any 'such application oC proceeds to principal sixall
<br /> � �-,< not extend or postpane the due drite of the monil�ly instRllsnent� s�eierred to in psragraphs 1 and 2 hereof or charsge
<br /> r � the amount of such instaliments.
<br /> � If under paragrnph 18 hereoi the Yroperty is �icquired �,y Lender, all right, tible and interest of Bono�er in
<br /> t; -, � and:to ;any insurance policies and in anct io tht }�roceeds therear (to clie extent of tlie sura�s secured by this i�Iart-
<br /> �' %; gage .;mmediately �rior ia suctx sxle or acqui�ition ) resulting irom d� muge : i.o thc Yroperty; prior to the sale or " '
<br /> ; " acquisition shall pa.ss to Lender.
<br /> 6. Pzeservatioa rmd 2+�icantenunce ot Pro�serty; Leaseholds: Condominiuu3s. I3orrower shall keep ttie Pmp-
<br /> � erty in good repaiT and ,shall not permiL or cornmit waste, imE�airmenf, or detei•ioration vt che Proper'ty and shsll
<br /> � `� com d tivith 1•l�e rovisions of tin lease if this �Iort �a e is un a le�sehold. If ihis t•Iort a >e is on ss condominium
<br /> a 3 P Y P Y , 6' � �. 6
<br /> ° unit, Borrowei shal� periorm' all of $orrower's obligations imder the declaracioii of condnminium or master deed ,
<br /> ' � the by-iaws and regulations of the condominium praject and constitueni docurnents.
<br /> ` � 7. ' Protection vf Lender's Security. Ii Borrc�v:er i.iils to E�eriorm the covenants and tigreements eoutuined in
<br /> � this i�lortgage, or if anyacLion or proceedin� is comanenced �vhicl�anaGerially affects Len�er's int�erest in the Yrvp-
<br /> �� erty, including, buc not' 7imited -to� emineni da�uain , rn�olvency; code enforcemeni., or ai•rangements ur proceed--
<br /> �.nge involving a bunkrupt or decedent, then L�ender <ic ;.er,der s optio�� , upon notice to 73orrower, rnay make such
<br /> appearances, disburse such sums and take sueli aciion as is necessary to pmt-ect I,ender's interest, including, but
<br /> '�, ,; no6 lim'sted - to; disktursement oi reasonable attorney's fees :ind cntry ujaon i:he Yroper�y to make repairs. Any
<br /> amounts disUursed by Lender pursuaut io 4his liaragruph 7, �vitlY interesE tnereon , shall }secome additional' indebt-
<br /> , ` : edness of Borrower seeured bythis .i�fortgage. �tJnless Sorrawer and Lender agree, to uther ierms of payment, such
<br /> ' ` nmountsshallbe pa.yable upon notice froni Lender to �3oiron•er requescing }�ayiuent thereof, and shall bear inter-
<br /> '. est irom Lhe ciatu of disbursement at ihe rate stated in the b'ote unless payrr3ent of inter�st at su:ch rate would> 3�e
<br /> ', ; contrary to;applica.�le law, in which event, such amounzs s}rali bear anterest at the highest rate permiss3ble bv
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<br /> applicable Iaw, Notiiing -contained in kiiis paragrnp}i 7 �h111 rec�uire Lender , to i±icur 3ny expense or do any act
<br /> r , hereundez.
<br /> ;`: ; B: Iaspectioa. Lender may-. u�ake or ea�e to F�c �nadc reasonshlc entries upon anc� inspecLions of fhe F'rc3��-
<br /> ertv; providod thut Lender sl�all give Borrnw�r notire � n�mrto anr si�cfr in�ix>ct,ion �n�cif��irre reasor�able r.ause:
<br /> :; � ? : iherefor'- related to Lender's interesi in ihe Property.
<br /> �` , ; S_ ' Coadeiaaati,oa. . Tfie proceeds c:f any �iwand aa• clsim fvr dainages, direct or cansequential, in conneetion
<br /> � '. with aag; condeoination or other t,aki..b oi 4he Property, or �>ari tliereoi, or for ronve,yar�ce in lieu of r.ondemrrx-
<br /> tion,;are #�ereby ass5�ned and s1�alli be paid to Lender.
<br /> " ; In the event of s tatai taking of the Yeape�ty, the ; �roceexis s��ai] li� applied to the surns secured hy this ;kIort- � � , ,� ,
<br /> ' gage, titi+ath the ezcess, if sn}•, }�ai�i ta E�i:*v�ser. lu tlac e��exit oF � partisl tal:ing af the Yroperty , unless I3orro�s er _ , � , " „ ;
<br /> r ; + Anci T.tezader ot3iscwise agree in n riting, tl�ere ���ai3 be sp�slieci t� the siuYts cecurad �y ihis '�Iortgage r:uch propr3r� ;:- ' ,� � " '.
<br /> 4 � tiou of the proceeds as is e�qual tq that �aropoi�ion which ti�e ar�xoa�nt of the sums secureci �y this \iortgsge imn�e- '� _
<br /> s � <lia�e33� priorto fhe date of takin� besrs to the fair, market a�alue of ,tlie �'roperk�y iininediat.ely prior tx� the date v[ ;
<br /> tak'sng, wi�h the ba�snac o�>the proceecis paid to Borrower. ���-�
<br /> � � IS t�ae ProXxr� is abandoneri Isv ]3s�rrower or i! aftRr nnticv ��x� I.eer*��r to �inrrower * a,at the ron�#etnn+rr +�ff�rs '" ` °
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<br /> C7, ; = to iz�uite �,n awsad ar e�ttle a elsicu� for daivag+es, $ortx�wrr fails #:0 3�c�ciut�ci d,o Ixneier w•it.hin 3U t3ay�. �f i.he. ds:�
<br />�' oi' suclt riatice, L�ns��er is authnrrp�d to co3lect mnci r�;�piv the }�resceecls :xL Ler�der's upt,ion either to restoration or � . `
<br /> sep��r af Che Prope�y or t�o the sutns secur�xi b`sr t2�is 1Iorsga�e.
<br /> TTn4ese i.ender snd $orxower other+vise ;a�ree in wr�ting, any sueki applicution ot prr�cee�s cc� j�ric3ei��al shall
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