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<br /> � �.1lbfll�t �,?iN2'6��ipk4 � 7�1 �itlry�lY flix° [�fA:)�Ie� [ft' 1* •� r {�� ue' tto�� 1 '1 �,$���I'ib' 1 *; ��'Ctis•fV� t^v :e.._i�illl'�.`tt �v � .i� q�.Tttf. � .�IIc3Ht' �
<br /> ni��,�.1! stErpty , �wi�tctck�ssrs �i��m��aicntr.iti�� +��nor t�r � t.�r �,.Alr�° ��k � h�• !'r�a� �w�� ty .ar it - n� yriy =• �r �on iEv I ,��ndar, cnw,� Fan�1�
<br /> Ix�ir� by L.�:n<!�^rmtiG tbr ctrt� o! a(rp�lxs�ttxaan am u rrcx# it �y�utt�:+f r3�c� h�ti;araw .r� airA�sl i,�� rh � � `�.lurt �„u�+c. �
<br /> �. ltppliCat�iona# Pe�ya��nls, 1 ' nle�, u��j�lir,�lrl� :• I :w« � �nrc ��l� • utfii�rwx�i• . ufl � ,:,vxiientn i <.c�e�iti�e�l t,}� I.encier
<br /> unti°.er tho A'oG� �nd ��ura�rapt�a 2 tlzid `l Lcoreai r�hui! f�.e e�i� �� �lia�i b�� l .t:�nc3er ikrsr, in pny� n�� ent uF uaitoiantr �7u±rable ta
<br /> l..ersdet Gy $t�a�rows�r urxivr ;�ura�rupiz 2 li�rer�f. cheu xo irrteri+�t p:xy�.xbYe an c6c+ ?v`�t.�• aaui �u F'c�ture Ariv:aneen, if � � �
<br /> � uny, wn� then trr the pr�nr. ipai ol tt�c \otc nxut ta ti�c- �inn� i��nl til' F'uturr :1+ l � nn�^ar, � t nn,y.
<br /> � 4. Charg�s:. Lieas. E3vtr�ower shal[ pav aU t^rxm . u,�a�>rnente; .nd utk�cr char{���s . 2i �es nrxl im�ositions nttrib-
<br /> � utable to the Yroperty which mrsy attain �� prionty nver rin4 \lc�r�r ��sgc , and grour�ct rents , ii any, ut �,ender's
<br /> �t aption in tho m�.nner Provided under �i.2ragra��h 2 ficreof or i��• Iiorxon er niukin� ptaymeut, icYzen clue, directly to
<br /> _ � � the payee thezecrf. Borruwer shu€] �ramptiy furnish � o I,encier all n+aL'tcrr* oi tsiuountx due under khis paragraph,
<br /> � a� in the event BoTrower st�all make }>�ynient clireczly , 13orrower s��all �,rornptiv turn3s}� to I,ender recei�ts evi-
<br /> dex►.cing eUch pa,rarments. I3orrower shall promptl,y �liscliarge an�• licn �ci»rh tz�s priority— over this \tort�nge ; pro-
<br /> � - vided, that.Bozrowershs.tl not:be required to disc6s�r�E nny sucPa lie�rs so lo:�g ns l3orrow�r sha}l a�ree in w�iting to -
<br /> � the psyment nf t,3�e pbligativn seeured I�y sucli lien in zx in�nner accepi�F�lc to I.ender, or :�huU in gaod fnith contest <
<br /> sueblien by, orde€end enfascementof such lien in , le�ai proceeding.y sviiiei� o�c�raie to �revent, the enforce��ent of
<br /> ,` , the 3ien or forfei�ure of the Property nr any r�art tl�ereor:
<br /> S. Hamrct Insvraace. $orro�rer sixnll kee�i tLe i �n}�rovenzents i3 utiv esisiing or her�after ereote� on tti.:e Prap-
<br /> y^ '' erty ,'insured ngai�nst loss by fire, hazar:3 included witt�in the tenn ''extended covernge", und such other haaards as
<br /> Lendeirnay' ret�iairean�t in such aniounts und for ,ur,lz peric�ds as C.enrter ma}� require ; I3rovicled ; ;thnt LencLer sha11
<br /> ' not requira that �he omount uf suclz coyerage exceed t�iat am�unt oz ruverrsge requireci t� 7�ay the surns see�red'by ' _
<br /> , ttais ibiortgage. ;
<br /> The insuran�e enrries �rovidin� ci�e insuraz�ee sl_all be �hosen t>y� $�rrolvir suh� e�t to �pproval by 3.ender;
<br /> provided, Ghat such ap}�rova,l s}�a13 not be iinreasonsLlv withlzeld : 1�11 premiums on insur�rice policies shall be paid
<br /> at I.ender's option iri the ixasnner }�rovide�l onder pur�graYli 2 liereoi or by Borrn:ver m �king psyment, zvi=_en- due,
<br /> Y directiy to ihe insurance 'carrier. ' '
<br /> * In Ghe eveat any pali.cy is not renewed on or before ten days of its expiration, the Lender, to protect
<br /> its i�terest, ' ma� piocure i�surance on t�e improvements, pay the premiums`an� such sum shall become
<br /> : iminediately due and payable'with irtterest at the rate set forth in said note vntil paid and shall be r. � `'
<br /> secured by this Mortgagec Faiiure by Borrower to comp]y, may, at option of Lender, constitute a defaalt
<br /> ' und€r the terms of this Pviortgage.
<br /> � All insurane� policies and renewnls ihereot �hatl bc in iorin acceptxble ta I.ender ar��l ch�ll include a s�anciar�l
<br /> ' �norf,gage clause 3n fa4or of and 'in form nccept� ble to I,ender. Lend�r shall liave the ri�3�t to lioId Ehe policies and
<br /> ,f ; renewals thereof� and Borrower shull promptly furnisi�i to Lexider all renew�t iiotices ar€d 'all receiats �€ peaid p��_
<br /> y .' �'tt:��. in �:�e c•F e.^.t c: .a�, $crrower aiii�_l give pror+�pi notice to ti�e insurance carrie� and Lender; und Lender
<br /> , • : mag make proof of loss if no6 made promptly by Borrow�er.
<br /> , � Unless I,ender and Bors�o�ver oihertiF ise ugree in ccriting; insuranee proceeds s1ia1F bf: applied to.restoration or
<br /> � repair_u( tlxe Prc�peiGy durL-�ged� �?L.i4i ieit ,n.;7i .rc�to�iitiozi oi� rej�air i� ceoriomicmili}� fa:ssible and {he rec�acity of ' _ . :
<br /> + this l�ortgsge' is nottl�erebv irnpaired. Ii such restor�tiai or repair is not economic�tilly feasible or if the security .'.
<br /> } of tfiis l�lortgage �vo�ild $e im�aairedy tlie insurance �raceecSs sl�all lie a.pplieei io the aurns secured by this 1�fortgage,
<br /> wit}� the,excess, ii any, paid to Barrower. I£ tlie Yropesty is aY�andoned by Borrawer or i£ Bocro�ver. fails to �espond -
<br /> � ' to Leadenwithin 30:days afcer iiatice by Lender to I3orrower that ih� insurnnce carrier offers f,a settle>a cLaim for
<br /> ; ' ; insirxsnee benefito, T,ender is authorized to collect and apply ,tkie insiirance proceeds : at Lender's option esther to ' �-
<br /> � " � �estoration or repair o€the Propertv or to the sums secured by this ti�Iortgage. '
<br /> r t3nless I.ender �nd Borzacver othen�-ise sgree in �vriiii�g, a.ngsu�:L ;tpjrlicatyon o: prcee2ds �a prineip�l sfial:
<br /> `, not extend or posetpone the due dafe of the �nonikily instalIments referred to ia paragraph.s 1 -and 2 hereof or change
<br /> " ; the smount of sueh installments. -
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<br /> If under par�graph;:18 hereoi the :Yroperty is acquired uy ' Lender; �li righi, title snd interest of Borrower in
<br /> ' " and to any insursncepolicies and in nnd to the proceeds il�ereof fta tl�e extent of the s�ms secured by this 'blort- ' '
<br /> gage ,immediatelS: prior to snch �ale or aequisition) resuliing irom darnage to tl�c I'ro�er'ty prior to the sale or
<br /> " , � :icquisition sha11 pass ta Lenden >
<br /> ,� , � 6. Preservat3on �md M�nienaaca of Propedy: Leaseholds, Coadomiaiums. 13arrower shall keep the Pro�-
<br /> "` ' " er6y in good repa_ir and Ehall not permif, or cornmit tivaste, impairment, ar detcriorntiori of the Propertv artd sl�sll
<br /> � comxtiv with tlie �rovisions of �ny lease; if ihis �Iorigage is oii a teaseiioid _ If tiiis 1lortgage ;s aa a condo�iinium
<br /> _; � unit, Borrower.sl3all perform s11 of Borroiver's obligations unuer the declai•a 'tion of coneiucninium ur tira�tc.r deed,
<br /> � n the by-laws and �egulations ot tlie condon�inium �>roject and constitueni dacuments.
<br /> $ ` 7. ProtectioaolLender's Secuziig_ Ii Borrower fails zo perforiia the oo�enunts and agreemexits eontained in
<br /> , .. � ` this yFortgage, or if any action or faroceeding is commeneed whicL mr�ieriully affects Lentler's interest in the Prop-
<br /> , . . _
<br /> ; erty,. ineluding; 1>ut �iot, li:nited to, erninent doniuin, ansolvency, code er�forceinenb, oi• �zrrangeinents or p�oceec�-
<br /> * ings invoIving a i�ankrupt'or decedent, then Lender ac Lender's option , upoti noiice to Borrower, may rnatse such
<br /> ` ` uppesrances, clisk3ur§e sucli sums and take such acticr_ sLs is necessary ta F�rotect Lerde�'s interest, includi�g, but
<br /> �" 7 not :3imited to, d�sbursemeni of reasonable attorney's tees and entx�✓ upon the Yroperty to make repairs. Any
<br /> amounis.disbursed Ly Lender parsuant io this paragr:ipl� 7 , witlz inte�est tl�ereon, shall €�ecotne additionat 3ndebt-.
<br /> ; edness:of Borrow�er seeured by tGis 1lortgage, Un]ess Borrower and I.endes agree io othar terms of paymer�t, such
<br /> . . ; . ; . . � oMn �1� l. IIS.., ..... 1.1 .. ._�. _ . . . _ r� _ . � .. . -. . . . _ � . � - , �. . � . . ' � —
<br /> � � � .....,,,�..... .,.,....: .,... y.+�W.+.u � uyQia ii 'v�ii:c .iii�iii LC11l1C/� �V yuaYivWci- . .rl;yu�i�lll� . }JtiyIRGI1GLIlC3COI�.. £1IIQ . SL1&11�.�L'8E' .lAtCi'- � .
<br /> �� , � ' esb fiom the date of disburseinent at the aate stated in the Note unless �aymeni of interesti at such rate would be
<br /> conGaaryto appli-cablelaw, ir� which ` eventsuch nmaunts shall bear interest at the hi�liest rate peTmissiUte by
<br /> agp23esbie 1aw:` A:otliing contuined in ti�is p�aragraph ? sh�ll requirc I,ender to icicur uny expense or do any sof,
<br /> - hereainder.
<br /> ' 8: Inspecfion. Lender anay �nake or eau�e #o he mn<le i•eaeoual> dr eiitxies upon and inspections of the Prop-
<br /> :. ertY,, prouided ih �E I,encier sl�all` gi4�e Bnrro��er no� icc ; �rioa� iu an�• �ucb in�per.tion str�cif,yii�� i•eusun�,l�le cause
<br /> ,' , i theretor rels#,ecl tr� I�ender'a intere�t. in t hc. p, n„���r.._
<br /> C:
<br /> '9. Coademmation: The proceeds of unv awara or clai3rr t'or ciarnn,ges, direct a• ca�sequential, in conneetion
<br /> rvith xny conde�nmaLion ar other Gaking' of the `Yroper�ey. m• ��art tl�ereoi, oi• ior convey�nce in ?i�.z of condemna-
<br /> • tion,: :are hereby assigned and sha11 be paid to I.endei•.
<br /> In the evenE Qf a total taking of the I'coperty; the prviceeds sl�all I�c applied to the s�ns secured by tlzis Mort-
<br /> � gage, with the ex�esb, if a;ny , paid to Borro�ver. In xhe everit. of a paziial taking oi the Propert,y , unless Borrower ,,,� ,� ' -
<br /> � � and Ze�lder okher'+vis� r�gree in �s�riting, ttaere sI�all Ut �pj>lie<i co the auins �ecured i�y t.lu� �Iori�age sucn �ropor- , � �'w,���
<br /> � tion �of Ehe �+xocee�is as as equal to iliat pro}�ortian tivl�ieh tlie €�raount of the sums securec� by ti�is 14axtge�e �mme- °' ,�, ;,,� '
<br /> ' �+ dint�ly pra�� to tF3e �ate cf taking bexis to zhe tair ivarke#.. value oi ti�e Prppertv i�nme�isateiy prior to the c3ate of �'�� � ,
<br /> . tski,mmg, wrth the b�atanee o£ tl�s praceeds paid ce Borrow-er. �� .
<br /> ;° ' 3i t}�e Prqpet�.y. i& al�snd�na+ed "by Borroti�er or if af�er notice by Lender to Borro���er �liat the condemnor offess o�"''.
<br /> to �ke an awsar� or settl+� � ctair+� for �i<sttr+ag��, Bcarrnu,Qr ;se±ls L� �ixan:i to T_.enc!er w:tfsin 3Q d�;,�s. of tl,e date a�"
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<br /> < ' o£ s�s;htjot�ice, �ni3er iez .n���,iavrize.cl ti� <+calleM ai�[� af+e �iy t3�� l�rsire�ic � t T ,eitr{Pr'. o��cic� �it�7er *. o rect�ra�ion az ': . .
<br /> repa�r of the Rrope�rty nr ta t,he suins sacvseci b3+ tl�is :�Lortgage.
<br /> �Tmless I,end�r snd. Bon�wer +uther�vase agrae in �criting, any suc� applieation of paoceeds to �rineipal sliail
<br /> w,� •.,.�.,
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