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<br /> � if under �Taragrctph It's hereoi ttie Yrc>i�E�rt}- i, :nld or n ; e� 1'rop��rey Ss oi �;r�ti�i��� ,�cc� tiired hv 3.en�ier. Lendcr �
<br /> shnll aPplY , ao 7ater tlu�n �in��madisuly prior to 1L�� ,ssh of thc .Yro� ,erc�� �>r i � .• :tit.-qui�� cioa k��� I ,f,ru�9er. :cny F �nxls � ��
<br /> Ite1d by La[t��iGr ait. the titu� oi :x}�piicutii�n as a crcdit sK:iin�t rl�.� su�ua �ccttrai F>y thi» :�I �rcg�thi�. �
<br /> 3. Application of Pmymeata i7c� len• r�g.�plical,lc lau �snividea otircrw �se , :� ?1 p:�yiriente rccei ��ccl tar• I.en�er
<br /> ttnder 8,he 14ote � anci �:�urs�stpfa� 1 :�nd '2 hereck�f �linil ika a�'�pht�ti � in- I .ericSor tirst in pnytn�e�t c�i aulount�s Er.�tiublc to �
<br /> � I.enda�� �l�y E{ors�parer unciez� ��uaragraF��l� 2 hereof, tli�*ii ro interess ps�c:�hle c�rx elqet ;aToY�aa sn< f Qxr Fut�i�zs�r :#rivnsmc��, iP
<br /> any, a;�d then to il�e princi�at of the ,tioti� ar�r( ta the �acinci��nL oi 1�`utaire Adv:�rr�rs, ii an}=.
<br /> 4, Charqrs: L'zens. Borrower sl�;sll ��a,y �I! taa:es , <xssessTuents and c�ther chzrAe; , tin�s and icngaosatians �tttrib-
<br /> utpbte to the Yroperty wtsich m�y .�ttairi a �triority a�•cr r1ii� --linrt ��ge, anri �;suun�i rents, if an,y, nr, Lender's
<br /> optiou iti the manner i�rc�videc! uncier �anr1gr�.ph 2 hereof or tzy- 13arro�3•er iruil:m� �iay�czze:it, when c3ue, direet,iy to
<br /> ' '' � � � Ghe payco tl�ereof. B'orrotic��• �shal! pratn���tly �urniFt� to� Leuder� ali not,ices irf amouc�ts clue�� �anil�r � E�l7is ��rs�raph, �
<br /> �nd in : the evenL }3ormwer shali �ziake paym�nt tiirect,ly, I3orrozrcr �huil proiuptl�* iurnish to t,enci+er xeceipts avi-
<br /> deneingsu�lz payrnents. Bvrrower .shall prom3it2ydischqrge aize: lien which l�tis �x.riority over this `lfort,gage ; pro-
<br /> vided, thatBorrozvershail notbe mquired to �iiseh3r�:;e ztny �.air�i ficir so long as ti� .�rrn�ver sl�al! n�rec in tvriting to
<br /> thepapn�ent af tl�e'obliga�inn secureci by suelz lieii in :z ii2anner �tcecF>tatrle to T:exxc3er; or shnit in good fnith contest
<br /> suohlien bv, ar defend eniurcement of sucl� In�n iu . Ir. aal proeet�rling� �vhich ope�•i� .#e io prevent ttre enforeement of
<br /> � .the Iieri or forfeiture of th� Property or r�tr,r- iaart tliereof:
<br /> ., � 5. Hazard Insuranee. I3arro�cver s}iull k�eep tixe iinF�roceiu�nis non• e:�istirig or Yicientter ereetec{ on tlie Prop-
<br /> ; crty insurea agsinst lass I��� fire, lia�ardsincl�ded �c-ithin ille z.erm "'extended covesage '; :.nd such oclu�i }zuuards as
<br /> Lender may rec{uire nnei iiz such amaunt:s +1nci for sucia pex•iod� •.a�.� Lender nia,r' req=-�ire ; }�rovided, that Lender shall
<br /> not rec�uire thss,t t}ic u�nouixt oi sucli co�erag� axcr.ed thWt ;�moiint aP coti-wrxige i•equired to �asy the sums secured 'by
<br /> '; this'Mortgage:
<br /> Ttae insurance anrrier providin� tiie i�xsi� rnnce shalt be c�hose.n i�y 23arro.ser sui�jcc 't to approcat bp I,ersder;
<br /> E�rovided,: th3Csneli approc=sl sh�li nat be unreasonably �cithiield. :111 premiums on_ insuranec polici�s sU�ll be pssid
<br /> st Lender's og�,ion in the inanner provided uiaiier psr�3grapli 2 I�ereoi` or bz• ]3nrrosrex• mul:ing pii}-tr=ent, �vUen duc,
<br /> 3irectiv to the insurance c3rrier.
<br /> ia the event , any palicy is not renewad on or before t�en days of its espir�tion, tho :Lender, to protect
<br /> ; its interest, may procure insurance on the improvements, puy� the premiums and such sum shxll become
<br /> ' ` immec�iately due and payuble with interest at the rate set forth ' in said �ote until paid nnd shall be
<br /> ; i secured bV this ?�4ortgage. Fsilure Uy Borrower to comply mny, at option of Lender, consfatute a default
<br /> , under the terms of this �4ortgage.
<br /> Ail insurance uoliczes �nd rene�vxlt thereoi �hu � l ��e -in forti: +iccc��i:�l�le to Lt.rb�ii�r nn�i shall inct ude a sttindncd
<br /> a irxort.gr�ge clause in i¢svor af and in ioriu iicce��table to Lender. L.en<iea• slmll l�n��e Ehe riglit .to hol� the �olicies ancl
<br /> renecs�als thereof, andBorr. ower siiall proriipt� y furnisir to Leci3er sfl renewal notiuis iinc? all reeeipr'ts, of paid pre-
<br /> miums.. iri the event of los-s, I3orro�rer shali �ice proznpt uocic� to tne insurance carrier and Lend�r; and Lender
<br /> znay make groof of' loss ii not made . promptl;r by Borro�eer.
<br /> E7ziless Lender and Borron•er ot:her�vise a_�ree in wrii.ing. in�unznec prnceed� � hull Ue applieci to restorntion oc
<br /> repazr oI tl�e Propert}� darnnged , providecl sueli restoratimi or ;:. epair i= econo�uicnll�� ie:isiUle snd ilie security ot
<br /> this S-iairtgage is z�dt tliereby impt�ired. Tf suaa� restorration or r��mir is nut econoinically fensiUle or if tlie security
<br /> of this \fortgagc ivould be impnired , the insur�nce p�roceeds shstl I �c applicd to t:l�� sams secured by this tilortgage;
<br /> with-the excess, if :�ny, p�id to Borrowcr. Lf ttse f'ropex•ty is at�andoned I�y I3oi•roiver �r if Borrower �ails td respond
<br /> ,; to Lender wit.h9n 30 days after notiae b}• Lenc�er ta Borroti�•er ttzat clie insurance e�rrier otlers to se�tle u claim for .
<br /> ineurance benefits, I..ender is uuthorized to collect and apEil�- G��c insur�nce }iroceeds nt Lender's option eitl�er to
<br /> � resEoration.or repuir of tk�e Yro�,erty or to th� s4nns secured by this \lortgage.
<br /> � iTaless Lender nnd }3orrow�er otEierwise :�.gree aii �vriCinK , a� ny sucli aF�plication of proceeds io principai sl�sll
<br /> �- ' not e.eraend or posipone the due dzite oi tl�c inoz�thl}• installments reierred to in laaragraphs 1 �nd ? liereof or ohange
<br /> the amount of such installx�ents;
<br /> ' 3f under parag�uph lb hereaf tl�e Yroperrty is acr3uired t�,y I,encier, all right; �itic �nd interest o£ Borro�ver in
<br /> � und to any insurance poIicies sind in and to tF�e proceeci, there�� ( tu fl�c esieuc. ot tlie sun3s seourec� bv this �Iort-
<br /> gage .iuuneciiately: }�rior ta such sale or .�equzsiiian l resultinc; � rom d :�xnFnge to ti�o Yr�perty priar t� thc sale or;
<br /> ncquisi�tion shall psss to Lender._
<br /> 6. Preservation mid Mcdntenan�ce of Property; Leaseholds; Condominiums. L' orroti;�er shuIl 1;eep the 1'rop-
<br /> � erty in good regair and ahaii not parrnii or commit ti�•asie, imF���.irtnent; or det:erioantion of ihe Yroperty and shull
<br /> '� comply ��ith the pro��isions of un}- lelse, ii tl��s �lort�:�ge is an �i leasekiold. If thi= Alorigsge is on a coudominium
<br /> � ;, unit; 8orrower shalt periorm �11 of Borrower's a�ligations undc r �he declaration e�f condominium or master deed,
<br /> � the }�y—laws and regulacions oi ihe condomini.nn projecc anci cansiituent documec3ts.
<br /> t 7. Protectioa of I.ender's Socurity. Ii 13orrower iails to jrerform the, covenas�Ls nnd agreemen�s conL�,ined in
<br /> � this �Iortgage; or iF any seiion or proceeding zs couimeiiced which mstiterially a�C�ects Lender's interest in tlie Prop-
<br /> ' .{ erty, including; bui not 1in�i 'ted to; einineni do��r,�in , instil��eneL�, cude euiorcerne�l, oi• az•rniigemersts or proceed-
<br /> } ings inyoIving a Uankrupi qr decedeut, iheu Len�er st I .ouder'= opLion , u}>ai noti-ce 'to 33r�rroi��er, i�Ay muke snch
<br /> appearxnces, disburse sucia euii�., and take sir.=li ncLion as is i,ece�snrti� to iirotect I,euder's int.eresi, including, but
<br /> ntit liznited to, clisbursena�nt oi re�so»ai�le attorney 's .Cees anc� entry upon ihe 1'rnper't.y to makc rensirs. An,y
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<br /> amoun�s disbursed by Lender pursuanc to ihis parageaph 7, �vit.:i interesi i.hereorz , slisii become adciitional ii�debtc
<br /> edness -of Borrower �ecure+� b�• il�is 31ori.gage. Unless Bon•o���er �nd Lender flgree -#o ot,her tenns of p�yment, such
<br /> �tmaunis sUall be payable zapon notice ?rom I::.nder t,o Bc+ra•n�ver reque;iarag J�ayrzit-ut. t,hereof, :ind sj�a11 L�ar inter-
<br /> est frozu tiie date o# disburseinent si tlie rate st�Led in the �ote� unless �>:xymenc c�f interest u6 suc�i rKtti �vauld Ue
<br /> contrary #a �pplicable ]a«-, in which event e ��ch amounts �lyn13 bear ir�terest at tlie highest rate �ernaissibie by
<br /> applicttUle iasv: \?otliin�; contained in this p:�aagrupl� 7 sl�:ilt re:quire I.r,nder ta incur an3• ex4�ense or do sny aei
<br /> a ; hareunder.
<br /> , 8: Inspectiom I.ender ma�� � _;aise vr cause lu lie madu :r�soi�iiblc� eiatries u��mi acad inspcctions of rhe Prop-
<br /> erty; �� rovided tl�at Lenc�ea Ehnll give F3m•xro�s-er noti��c } �rior [ c� ;im� ,uc3i ine��eic:ion �� >ecifa�iiiR i•ejsoiiable eause
<br /> tl:ere£e� relat.e� Co Lende* � n:tcrest i:: i.1:c Yra�crty.
<br /> 9: Coademnation. 'I'!ie proceeds of at�tr aevnrd ar �I�tiim i�r dsmages, direcc oa� consequentiai , in connection
<br /> F ' with, .any .coudeannaGion :or other taicing ai ihe Yro{�eri,}- , or j�3r-t f Lemoi , vr �or �s�u.•c,yunce in lieu of condemn�-
<br /> �' tion, xrehereb�� r�ssi�necl �nd st�nll be paid ta I ender.
<br /> iii t,he event oi a toisl isking of the Ym}�ert1�, the � �roceec3s �hall t�ti applied tc� the tiuins s��rurec b�• t.his \�iort-
<br /> ` �aga, ti�-it,hthe exc�se� ii an3�;: paid to Borro�cerr; In the ea-ent of n ��arYial taking vf t:hc YroE��rLv ; ta�less Iiorrower ^��.! ° ',
<br /> Yxyd .Lender oti3em-ise agree in wrizing, cherc �hall be s���>liec# to tt�e suius secureci. by t;iais �lort�ag� ,ucii }�rapur- . � h t �
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<br /> tiun: t�f tlie proceeds as is equal to G4Yaz {�ropos-�ior� whtcti the tsnt�unt �i t.he sums �ecure�i by ihis �ti-ortga$e imme- ' ;� ,
<br /> ;; � diatelY pripr ta tlis �9at,e ni iaking beart; to td�e fair �u�s,rket; vaiu� of tlie 1?ro��eri.v �mrn��iatelv prior Lo the daice of ,�"^ :
<br /> takiag„ with �fie halanoe af t.lxe �rooeeds �ixid t.b F3orro:ver. ' � `
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<br /> � I£ '�h8 Pm�rerLy �s abaadoned h�* I3orrowe�• ori[ after notice by I.eiader to Bar-To«�a e ctzat d}ie c.c�aideitF �or affcrs �+ e ry�
<br /> „ � � . iA IC1:iZLt3 s'ET>, :�GKSiI'(� pY DULLIE: LL .4181tli iGt�:ti�LL11i2Lf�l:S�. �Ull"Lvi �i Iwai� �u 1ta�iUT.� IU a t,a.'i�t..l rll '.l�iii a0 U.i. `,fa UI Li�C 48.t,�.
<br /> of sz�c°.:� �o�i�c, JT..cndca• is :�ztii�rizad ta r.oli+:�t und ,x�„�.� it�c ,?^ececi'_ �t Lc..dr. _ c:,t..,.. . :ihci .... r._;..iWt.na ar
<br /> repsir s�f the �?zapertyor ta the suins secureii }Yr�� iliic \ir�rtgage, -
<br /> LJnless I.euder and $v-rrnwea• vt�hers�l�e a�ree in tvriting, a�y sucln a�plicatiaa� ot proceeds t� ;�rineipaI si�:�ll
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