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<br /> - � If under Paragrn�h 18 hereof the Yropert,y is aolal or tfie 1'ropert.y is othercc* i,e acquireci by f.cnder, L.ender y �
<br /> 9hall ;a�p1�, yxalater tlian ima�ed�iately�� (aaiov� to the � saile of tl�e, }'ropert,v or its acc��uisitinn l7y � ,i,en�lec�,� any �� S�`unds� � �
<br /> s l�elct by Lencler wt the time of nppficuEio�z; as a credit n�xinat. tfie swns �ecured hy ti�is �Inrt�.Lge.
<br /> 3. Applicqtioa o! Payme�ts. Unless a��pPicuble fa�t� provide. otherwisc, uli paynient� receiveci hy I.ender
<br /> � � �� `.YJ � � under'the �v'ote �nd �aragrapt�s 1 uncl2 }ae�rEof e�tr:�l�! bc .z��l�lic>d by l.eu¢c:r �first. in - �x�ayinent of rirnountspayat�le � 'tc� � � � �
<br /> 3"'1 Lender by Borrower under peira�ga��li :� hereof, t3iet: ko intereat �.i;iy«�t�le e�n tf�e 4 aGe an<i on :Fitture �AcSvances� iP
<br /> i`" any, azitl tkien to the prineip�sl of the Tiote t� nd Yo thc �:rrnoip�l of Fiiture Advnnces, it uny:
<br /> C� 4. :ChargestLiesas. $orro�ver sliall ptty �lt t�txes, assessments nnct atlie�• char�es, fines and im�rosiEions abtrib-
<br /> O utshle to the Proparty wtzioh inay ntt�a'n �t priorif,y over tf�is Jlortgage, and ground reilts, if uny, ut Lender's
<br /> j � G7 option in the manner pro�ided under ps�ratgraph 2 ' hereqf or by $orrower inakin� payment, lvhen due, directly 'to
<br /> F � . tke payee thereaf. $orrower sfi�ll prom�s�tly fucnish to Lencter n1l notices of ��naunts due under this para�rnph,
<br /> ; -, _'�, and Sn the e��ent $orrower shali .snaka �an.yment diFeatly, I3orrawer sfiaY! ��rom�tl�r fursiish 80 ,T;ender _xeccipts evi-
<br /> `` " k`""+. dencingauch paymessts. ;,$orrower shait �arocn�tly ciiscl�srge'any lien whiclr lias pr. iority over this 1Iartga�e ; pro-
<br /> R ; ' videdythaCBarrower shsil notbe,required•to disclrnrge any siieli lien sa long ns �3orrower sltiail agree an writing tq
<br /> �r, , ; , thepaymen� of- the abligation securec! by sach lien in m m�nner :tcceptul�le ta;Lender, 'or sliall in �ood fi�ith contest '
<br /> " -^ st�eh lien tay, pr defend enforceme»t of such lien in; legnl p�qceedings �vlricli operace to �revent the en€orcemenL 'of ' i' <:
<br /> ; , the lien: or farfeiture, of`the Property or �.ny purt thereo5. ` '
<br /> � ? , 5. Iiazard Insurcnce. $orrorver shall keep tlje improoemenf,s now existing os hereafter erected on the Prop- ' '
<br /> `� < erty insured against lass by fire, hstzarcis ineludeci tivithin the terin "extended coverage", ancl such othes� hazurds as
<br /> "� : '; Lender i7nav require �nd :in such amounts acaci f�r sucl� period� as Lender may require ; �nrovided, that I�endec .shall
<br /> � ; not require ti�at tlie smount of sueh coverzige exceed that amount of coverage,required-to pa�y the sums secured'by
<br /> ; this blorE�age.
<br /> 'Lhe :nsurance carrier providing tlie insurance shall be chosen 1>y Borrower subject to approvai by Lender;
<br /> ; ' , pro4ided , Chatsuch approval shall notbe Lnreasonably withheld: :All premiums on insurance policies s�all 6e paid � - ' ' ' , , .
<br /> '` " at Lender's o tion in tfie manner rovided under nr� ra �li 2 hereof or h 13prro�uer nzakin a ment whem due
<br /> r r� ; _ �� P P P� K } Y K P' Y � , ; ,, •
<br /> � clirectly;to the insurance carrier. ` i '"
<br /> � In` the event any; pqlicy is not renewed on or before ten days of its expiration, the I,ender, to protect
<br /> � its: interest,'r�ay procnre: insurance on the improvements, pay the premiums > and such ; sum shali bQcome � i• , �
<br /> �` ` immediately due an.d 'payable �vith interest at the rate set forth in ' said note until ' paid and shall: be " ' ''
<br /> '' secured by 'this Mortgage. Failure by Borrower to compiy may, at option of Lender; , constitu`Ee a de£ault � ;
<br /> � ander ,the terms o£ this Mortgage. ' <
<br /> � r111 insurance polieies and renewals tf3ereoi ::hall be in iorm accepcsble to Lender tind shall-include a standard ,
<br /> mortgage ciause in favor of and in iorm a.eceptabTe to Lender. I.ender shall hd��c the rigl�t io hold fhe polieies and �. '
<br /> F�,.�
<br /> r renewals thereof; snd Borrower shall prompWy furnish to Lender all renewal notices and aIt receipts of paicf pre-
<br /> 4 miums: In the event af 'loss, Borrotiver, sh�ll give prompt notice to the insurance carrier and I,ender, and Lender
<br /> msy ms:;a prouf of Is>s� if not made pzoc-�p�ly k�y Lorrcwer.
<br /> .. , + ' Unless Lender and Borrowar of,herwise agree in �s�riting; ineurapce proceeds sE�alt t�e applied to restoration or ;; , ,'j
<br /> '- ' : repair of the Properiydamaged; provided sueh restor:�tion or repair is economically feusible and Lhe security of ' +
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<br /> � .- this 14ortgage is not thereby impaired. If such restorntion or. repair is not economicully feasi6le or if the security
<br /> of this �iortgage wau3d be impuired,tlie i�surance }�roceeds s(tall lie applied to i}ie sums secured 6y this ,bSortgage,
<br /> < cyith.tlie excess; .if 3ny; p�id to 'Borrower. Sf the I'roF�ei�ty isabandoned b}� Borro�ver oi if Boiro�ver faiis`to 'r.espond
<br /> to Lender witl�in 30 rlays aiter noGice by I:ender io Borrolver thnt the insurunce c�.rrier offers to -settle a claim for , �
<br /> ' insurance benefits, ,Lender is authoriae3 ,to collee$ a,nd apgly ihe insurance proceecls at Lender's option either .to
<br /> ' restorabion or repair of the ProperGy or io the sums secured,by this llortguge: ' , %
<br /> ' x Unless Lender szict $orx•ower- otherwise agree in �vriting; any such application oE proceeds to principal shail �
<br /> + - not extend or postpazie the due date ofthe monthly installmenis referred to in }aaragraphs 2 und 2 hereof or chenge
<br /> Lhe amount,of suoh insta2lmenis.
<br /> ` '> If under paragraph 18 hereof the Yroperty is acquired-Gy Lender, all 'right, title and interest of , Borrawer ,in '
<br /> ' ; and,tcYany insurance policiesand in and Eo the proceeds ihereoi 1to tiie esieni of ilie sums secured by: ti�is iVlort-
<br /> �" gage;immediaLel rior to such sale or ac uisition) reculk,in ironr d�ma e- to e}re Rro ert
<br /> y p q g g p y prior to the sale or
<br /> - + acquisition shall pass to Lender. �
<br /> " ; . 2 6.'' Preservation �sd Mmnten�sce of Pzoperty; Leaseholds: Coadominiums. I3orro�v�r shnll keep ' the Prop-
<br /> ; erty in gaod ' repair and shall not permit cr commit waste, impa.irment, or deteriorsEion of the I'roperty nnd shall '
<br /> ' " ' cpmply with the provisions oi uny lease; i# this \Iortgage is on s leaeehold . If this -Ylortgage is on a condominium
<br /> unit, 13orrower-eha11 perform a11 of Sorrosver's obligations under the declaration oi condominium or �aster deed,
<br /> £ theby=laws and regnlations of the cmidorninium f�rojeci and consiituent documenis.
<br /> ' ' 7. Pro3ection of Lender's Security. If Borrower fnils to perform the covenants and ubreements oontained in
<br /> j ` this iVIortgage; or if any accion or groceed"ang is conimenced }vhich materially affewts Lender's interest in the Piop-
<br /> erty, including„but notlimited to; eminent doinain; 'rnsolvency, code ei;forceme�2t, or arrangemenis or proceed-
<br /> �' ' ' inge involvinga baz�lcrupt or decedent, then Lender at I:ender's option , upvn notice to Borrower, may make such
<br /> appearanees, disburse such suins and take vucl� :�etion as is necessary to pmtect Lender's interest, ineluding, but
<br /> , , � not limited to; clisbursement oi reasonats3e attorney's 1'ees and en 'try ut�on the E'roperty to make repairs. Any
<br /> " ; ' :�mqunts disbursed; h�- Lender gursuant io this F�aragrapN 7, v✓iitS interest ihereon, shall become additiunal in3ebt-
<br /> edness of Borrower secured by this \4ortgage: UnIess Borrower and Lender ssgree to other terms of psyment; such
<br /> � , amounts ahall be pay�ble upon notice frorii I.ender Co Borrower reques�ing payment tl�erepf; and shail bear iuter-
<br /> est from the date of c#isbursement at the rnte staied in the I�Tote unless ��ayment o£ interest at such raie would be
<br /> ' eontrary to applicabl:e lan�, in which everit such atnounts c}�all bear interes4 at the highest rate permissible by
<br /> A, applicable ]aw, Nothing contained in fhis �>aragranh 7 shlil rec�uire Lender to incm� any expense or do uny, act
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<br /> ;, �ereunder.
<br /> ; $. Iaspection. Lender mav niake or esuse to l�c mudc x•ea�onablc eiitriec upan aud inspections . caf the Prop-
<br /> " '` ertY, �t't3videei thnt: Lender s1ia11 give Ba3�rower ni�iire i�rior tc� am� cta<•fi inst�ect,'roii .r �e�ifyine reasona6le cause
<br /> t�herefor relsted -to Lex3der's intemst in tlie Propei�iy=.
<br /> 9. Gonderanation. . The proceeds of any a�var�3 0� ctaim ior damuges, direci or consequeutial, in ccnnectian
<br /> z with atty eondemnaticrn or other taking of the Property, G�r part tliereo#, or for cc>n��e��ance ia lieu �f condemna-
<br /> q:�r �ion„ar� hereby assigned ,and shall t:e paid to Lender,. �
<br /> In the event of a �otal taking of the F"xoperCy, the �iroceeds shall be sppiied to the sums secured by this ;1Zort-
<br /> � gage, x•ikh th�e excesc;, if;:an�y�, paici to Barsw�ti•er. In the e�;e�aC of z� purtiul taking oi the Pro�aerty, unless 13arrawer ,�i ��°
<br /> snd Leasler otherwise a�ree in �vritin�, t}iere sljalT 'be a���iied to t ►ie suLns secureci Uv t.his ?�iortgage ��ch propor- °� k` ` �
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<br /> i� � cion of the �roceeds ras is equal to Lhst prespprtion wluch tl�e ainounc of the sums secured by tk�is Mortgage ianme- , " �, °
<br /> � tiiately prisr t� tlye .d�.te vf takit�g bears tt� the fair ii;arket va2u� of tiae ,Yro�er�y in�medistely prior to the date of �.
<br /> tak9tt�� with �he �ala�e +�f the ,proceeds paid to BtaxTosr�er. ,. , ;.
<br /> t ' , I[ Ehe �ro�rerty i� aha�ac�or�eei by $ora^�vrer n„ e£ � ftQr �otic� by- Le�•?e• to $os�rati4er tl:at t�e con3�naor a�'ers .�, `
<br /> . . . : ,�< , ,.
<br /> �. ' co at�ake am nwsad or ^Rettle a eDxim fc+r r�rsinagrr,, 3i�arrowPr ix� i� Ir+ re�n�rr�i tri I.en<ier within 30 dn}�s of ihe date � '
<br /> :' ` � of �tto# :atra�ice, Lender is ':authorir.ed to c+��leeG araci �,�ply tlre }3taoeeeds at I,cnder's oPtion either to restoration or "'' '
<br /> - rep,silc af #�h� 1'ropert� or Lo the suxns sec�x+€:d. by Liais llort-gage. '��
<br /> tTcfees Lendes xtt�ci Bqrrower oL}aen�:ise agrs�e irs wribing, any such z�pp�i�s#;iozz o# proceeds to pria�eipal shall
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