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<br /> � � If ui�Mcs' pad►yqTst{�ki 18 F�esca4 tt�c: E'rop�=rt�v �� xcil� i or t3te Pres��s•rcy t�+ x�ttix�r�e� i,r .,� � . # ilin•u s_� 1• L. �s� twr. Lr�a�z��r �
<br /> �P�iali a�rply�F no later tlratt i�umxdiately pnor cc� the 3:xlc oi ch�r Yru�„�r-t�• or Ir •� :,,vq �n�,us�an l�w� t ,��iutrr. .s � ry h"�u�•fi�
<br /> tield. by I.rzmc!¢r ut thc t�irr�e at �pplicazioct a� u +•rc*ciic u�uhza� t i �4 ,�u� �o �c<� ur�.:rt ��c rtiG, 11art�,n;,�r .
<br /> 3. 1lypiicaNRu1 0! P4ya�ata. Urtte��s +tip�alucnblc ln�t � u•�tivi�i+�a; vchat�vi.�~r. u11 ��.x} tr�cnte re�rcivrd t�g i .erul�r
<br /> � under the :lwvte und �araqra(��us� l :ind 2 hereot ali,s�.11 Ir�� �pptieci by I ,<�i� �lcr tirrt ica pu��in�-nt oi nuiour� t ;; p:�iyabte xea
<br /> I.ender by $ortower undrr )tarstgraplt '2 liereai, t.t3en tt� intercat � r.�,y�al>lc on tl�e \ote: urxc3 ��n F ucurc Arlvancee, tt
<br /> any, and th�n to the principal of the. liote and to the �>rinci �7al ot' Futvrc Ail�•�ncc+, ii xLny.
<br /> 4. Chatgast Lieas. $ocro�3ves stia!! pay ali t:�xes, assess+�nent� ;�ia4� oGher cF�arges, tines nnd impositions sttrib-
<br /> utatale to ttsc ProperLy svhieh anuy attaia n priasity over tt�is �fort�nge, und Ground rents, if nny, ut Lender"aa
<br /> r � option in the mannea provided under naragra��h '� hereof or Izv Borrowe�• makin� paynient, when due, directly ta
<br /> �p the payee t�sereof_ Borro�ver slauli pramptly (urnisli t� 7.ender ail notice.� af amounts due. under this paragraph .
<br /> j�. and in the e�vent Borrower shaY:1 enuke �aynaent direcGly, I3orrow•er sh311 ��romptty iurnis}i to I.en�er receipts evi-
<br /> ` �j den¢ing aucia `payments. Botrower shx�}l f�romptly diseFsarge any iien whieh ha� prinrity avcr this lYortgage ; pro-
<br /> � r-,_,�- vided, that Barrower shall not Ive required to discl�arge any sucir lien so long as Borrower slinll agree in writing to
<br /> � - r�- the payment of the otaligatian securecf bp �ucl� lie�t itc ii mAnner acce�]tz� Ule to I.encfer, or �hall in gaod faith contest
<br /> such lien by , or defend enforcernent af such lien in; legal ��roceedings �vliieh oper:�ie to pr�vent thc enFo:cement of
<br /> � the ]ien or forfeiture of the Praperty or �,ny part tl�creor".
<br /> '. �„y 5. Haxard lasuzaaee. I3osxa�ver sllsll keelti the improvements nocv e?cist:ing or liereaftei• erected on tYie Prop-
<br /> ; erty insured ngainst 2ass;by fire ; hnzards ineluded �vithin tlie terni "exiended coveru�e", and sucU ather l�azt�zds us
<br /> � Lender may require sncl `in suc13 i�mounts aiid For suctr Iieriocls as Lencler ma�• require ; prc�ti�ided . that Lender shal.l
<br /> not require thai the �mount of saeh coverage exceed tha.t ainount of caverage required to pny the sums secured 'hy
<br /> this lUlortgage. :
<br /> `ihe msvrance carrier l�roviding the insurunce sht�Il be chnsen by- Borrorver subject to approval by Lender �
<br /> provided, th,�,t sucP� spProvai s2�all: nat be unreasonably zcithheld. All premiums on insurance policies shaFf be j�aid
<br /> ' nt Lender's oC�tion in the manner provided uncler Fa�tragraph 2 hereof o�� I�y Iiorrower mal:ing pay�Trent; n•hen due,
<br /> x direetly to the insurance carrier_ ;
<br /> � J. % _
<br /> , , In the event any policy is not renewed on or- before ten days of its expirntion, the Lender, �o protect , ; ' '
<br /> ',,, r its interest, may procure insurance on the impxovements; pay the premiums` and such sum shall become
<br /> , � ' immediatelg due and payable with interest at the rate set forth in said note until paid and shall- be
<br /> � .. � secured by this Mortgage. Failure by Borrower , to comply may, at option of Lender, constitute a deFault
<br /> :i. , ' under the terms of this Mortgage. `
<br /> ` �. � All ins�'ance policies and renewals thereof shall lie in form :icceptnblc to Lenderttne3 shull include a st:endard >
<br /> ; .;� mortgage aIause in f}ivor of and in form aoce2�ta}�Ie to Lendec. I.ender sLall h�.ve the i•iglic tc�,iiold the policies und.
<br /> � renewals thereof, and Barrower slzall promptly fnrnish to Lencler all renewal notices und all ' receipts - of paid pre-
<br /> ', {( miums, In G�e event of loss, Boi•rower shall give prompt notice to the insuranee currier and Lender, and Lender
<br /> . J may .mnke proof of loss if not mude promptly by 13orrower.
<br /> : � Unleas �ender a.nd Borrower otherivise agree iu writing, insurance prqceeds shnll be .�pplied to Testoration or
<br /> repair of the Ptbperty damuged, prodided such restoration or rep:iir is econamically fessible end tdie security of
<br /> . , `� this :l+Tortgage is nottliereby ampaired. If sucL restartition or repair is not economically iensible or if the security
<br /> ; of this \�Iortgage would be imp�ired, the insurnnce }�roceeds sl�all lic npplied to iI�e sums secured by this 1Vlortguge,
<br /> , � with the exeess; it an�; pt�id to BoTrower: If the Yroperty is abnndoned i�5= 13orro�ver or if Borro�ver fails to respond
<br /> ,,:,, f _ to Lender �ssthin 30 days after :nobice by Lender to Borrower that the insur�,nce csrrier offers to settle a claim for ' r
<br /> �t. . . � , insurance benefits, I�ander 'is authorized ,2o collect ancl apply the insurance proceeds ,ut Lenderis option either ta
<br /> " ' ; restoration.or repair af„ the Pro�erGy or to the sun�s secured Uy tl�is .\Lort.gage.
<br /> Unless �ender and Borroticerotherxvise agree in �vriting; any such application of proceeds to principal shall
<br /> � not extend oT postpone'the due date of the monthiy installrnents referred to in para�raphs 1 and 3 hereof or change
<br /> the amount bf suck instAllments.
<br /> ,� k If under paragraph 18 hereoi the Yroperty is acquired by Ilender, t�ll riglit, title and interest of Borrower in
<br /> f � ; and to any iaisuzance polieies and in and io the proceed�, t.liereof (to tlze ectent of the sumssecured by this S�Iort-
<br /> gage immed"aaCely prior to such sale or acquisition) resuiting f�rorri da.mage to t13e Yroperty prior to -the sale or
<br /> � acquiaition s�all pass .to Lender.
<br /> - � � � � � 6i'�� Presarvatioa� �dMcantenancerofPropexty:� Leaseholds; �ConcEominiums. � 13orrowershailkeeptheProp- � � �
<br /> ` ' { erty in good re�aizi and shall not perinit or commit �vasie, impairment � or deterioration oz the Property and shsll .
<br /> , � ' comply with tlxe provisions of nny lease, ii this �Iort,gage is on � leasehold. If this �lortga.ge is on a condominium
<br /> unit, Borrow-er sliall perform all of iiorrower s obiigations under the declaration of condominium or masier deed ,
<br /> ^:; ; the by-lnws snd regulations oi the condominium i�roject and eonstituent documenis.
<br /> � 7. ProtacGon.of Lender's Security. If Aorroiver ilils to perPorm the covenants :�nd sgreements contained in
<br /> ° � tiiis YIortgage; or if an,y action -or Proceeding is cornmenced �vhieh �uaterially nffects Lender's interest in t6e Prop-
<br /> " ,' s erty, .includia�g,; but not ]imitecE to, .eminent dom:}in; insol�•ency, code enforcemeni, or urr�n�ements or �roeeed -
<br /> � . ings inyoiving a bankrupt or decQdent, then Lenc3ei at I,ender s option ; upon iioticc to $ orroscer, may make such
<br /> � appesrancesr disUurse sucli suirss and take sucli acti�n zs is iiEcessary to pi•otect, Lenc3er 's interest; including, but
<br /> . ,` not Iimited #�o,: disbursen�ent; oi reasonat�ie attorney 's fees snd entry upon the 1'roperty to make repairs. Any
<br /> tr, 3 , ssmounts disbursed by Lender pursuar_t to this paragrap}i 7 , witli inter�st thereon , shal] become additional indebt,-
<br /> ` ` edness of Bnrrower secured by this 1lottgage. Unless Borrowei• and Lea�del• agree to otl�er tenns o{ payment, such
<br /> ` aniounta sha.dl bepaya}ale upon notice from I.ender to Sorrower reques�ing payment thereof, nnd shall bear inter-
<br /> ' � - est from tlte date of disbursement ut the rate stated in the Note unless pavment oi interest ut sucli rate svould be
<br /> ; ,? contrary to spplieable law, in tivhich event such �mounts shaIl bear zi�terest at the highest rate permissible by
<br /> ' � applicabte law. \Totlii�r� contained in tl�i� p�ragrapU 7 �l�all require I ender to incur uny expense or do any act
<br /> � '' - hereusider.
<br /> , � 8. Inspeection, _ Lender �nay anuke or rsu�e to I �c inacic reason�.ble° enta•ie; upon xnci inspections oC fhe L'rop-
<br /> erty, pm��id�d that' I.ender �1� �.]l give Sarroa�cr no� ir� � ��•ier to am• s3ieh ir.�f��,cti�,n s,•�".;f;�4.:; xcas<:r.<:'.,le caii�e _
<br /> x ' therefor rela�ced to Lender's' interest in "the Property•
<br /> „! ; 9. Conc3emnalion.. , ; The g�oeeeds of any a�vard or clainx for <�anrages, direct or consequentiai, in canneotion
<br /> � with ttny cox�edemnation'or other takinq oi the Yropertv , ar part thcrrcof, or for couver�ancu in lic:u of condemnu- -
<br /> " " : tion, sre heret�y assig�sdand st�.all be paid to Lend�e�:
<br /> ; Tn the e^�ent of s total takirig oF the Yroperty,, tlae l�rocecd� shul! 1>c applied t� tlie suxns secured by this lioit-
<br /> % a e with G�ae exo�.,s, if av �ici to BoY•rc��ver. In. tl�e event ui a urti.a! tukin oi tlie I'ro >ert uc�less Borrower '�� µ ' ` �
<br /> v : .� � � r+ . �. , �� � . . . � . � � � yr ' � � � ��', r� '� +. �4; ,
<br /> , . ,; ` ant� T.endor otherwise agree in rn�riting, tiiere shail Ue a}i�>lied to tl�e sums secured by tliis \lortg:ige such propor- , - +�
<br /> „' tion pf;tt�a p3'naee�s as is equai. i,o ihst pro�ortion �+�iiich tlie acnount. of tlye sunis secured �y Lhis DZoitgage imme-
<br /> � �1 diately prior tv the date o£ taki�g bears io ti�e fair u3srket ��alue oi tl�c>: Property immediaiely prior to the date ot ^�%�^y;}
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<br /> ' �'= " - takiag, with.'^�he;bslaxa,ee of �he �roceeds p:a�id to Bas�ro�ver. ��";
<br /> , If,:tlte P�roP�`tT is at�ar.dnz33�d 'a;; Po:mn�er cr . :f af:�r ;,atice b}- Le:�der to Borron�er tY�at the condemr.or .offers �- "
<br /> � = xo ma�e mn aW�fiti er aet-tle a ^?�ir� fc�r d4�n��;es;`�orror�•er f±�iis to rea;or.d to L.euc?er tirit±�in 3U daps of tlie dnte " '
<br /> of su�h notir�e, I.ender is auCi3o�ised t�o eoTlect and +t�s�>ly t•i3e y�roceeds at Ler�der's opiion citixer io reetorat,ion or
<br /> repsis oS the .Yroperty vr t�o tke nsuine secur�+ b�• �tliis \to�-kgxge.
<br /> '[�nleas Z..eudes asid Iioresvrreer �thsnvi�e aqree iri �s^ritin�, snv suc'3f applicaiion of proceeds io princix>sl shall
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