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<br /> � � lf undes ��aru�a7iprl'i t !i l��ere4t ihr�� Yr�s� ,crt �- i� ,nir3 car t + o�� I `ro{ rr�rr,y �, � �ti� ��nci..�a :���yai� rcd kn� ( .a•r�3er. I.ender �
<br /> �-t��zaiE r�{>ply . ncs la[�r tErun i���uu'dl«tt,c:3y pr�4�r so r lur raGie �rf il�e �+ Nruq.��rtv or i1 . u��, ��tiviC �ote k� V Lcu� irr . :ui}' F�und�.
<br /> iq,�ld by I.encier st ilr2 ti�n� of rr�pplie�.tion �:� r� er�dFi us:uinnt r � ir suK� �- :+rrW �r�-�l Irc i ! � i. Aturt�;ei;;�,r.
<br /> 9. ApplicoAon oE Paymentti 'C?nlea * :a��pl �catrit• tu�c t �r��vid�:� atlicn�� �se . .�ll �-, s��'iuue�f.� rr�c�siv�•ci by I .ender
<br /> uuder tkie �ote anc! �ysarugra�rl�� I un�3 2 hccr���f �4rxt1 hi.: u�,plae� �� I�y L��rid�•r Iirst in p:xynfeu� o [ ��n�aunzra payable to �
<br /> � L.�ndes by Borrower under �rarAgra{aE�x 2 li«�rc�l � clien t� intarrr-4t i�awnk>lu un clu; Aocr, an�l on I•"ukure Advancea . if �
<br /> uny, and then to thr ��cinci�Zal ot thr. \otc sricl to [4ie �irincqr.�.l af Future Ae:l �•:inc+ce . i( unv,
<br /> +i. Charqes: Liarnac. Borrawer stnall pur• a1t Laxes , xsa�eewrtz-eiY4e cind okhcr chnrge, . firie5 and impositions nttrib-
<br /> ur�We to Lhe Fropezt,y which may n.ttain a� priority aver thi� �lortgrs�;c, and qro�znd rer:ts , it sny, t3.t I,ender's
<br /> � ap�tion in the manncr �rovided under paragraph 2 hcreoi or li�y F3orruwer in�kin;; �>xiymen�, �vhen due , directly t�
<br /> thae payee thereof. $arrawee shull promptly furc�isIi to l.en�iec al ( notices c>f nmotiats duc- t;nder this paragraph ,
<br /> aad ,in the event Borrawer shall makc pnyrnent ciirect3y , �3orrot�•er yliall prn�n}�tl,y fwnish to' I.ender receipts evi-
<br /> < d�cing such payment:a. Borrawer shsll prornptly discl}arge ary licn �v hich €�ius priaritp oc-er this :ltortgage ; pra-
<br /> �, i viderl, thatBorrow•er a��ali not bc reqeaired to <li�eliarge any such lieci so long as l3orrowei• s }��.If agree in �uriting to .
<br /> thepayment of tho obligation aecurer! by auch liezi ir� n munner nccc�t:ible ta Lencier, or s6�11 in good fsith contest
<br /> ' t such lien by, pr defend enforcen�eni oi suol� lien iai, legal procecding5 titihic,h oper:ate r;o pre�:-ent the enfarcement of
<br /> " theliea or forfeiture of tkre Property or M1ny F�nrt thereof:
<br /> � > ` 5. Hazard Insuraace. Aorro�ves shall keep the improve�nant� nox�� exisving or }iereafter erected on tf�e Prop- "
<br /> 5 erty insured s�gainst lass by fire, hnznrds includecL within the t�nn "extended coverage", ssnd such otl�er ha.znrds as
<br /> � L�nder may require and in such iunounis anci far Sueh periods �s I:encier muy rec�uire ; ��iro�-ided, that Let�der shali
<br /> " ; nv� require that the amount of such coverage exceecl that �smo�nt of coverag� reyuired to p.�,y Che sums aecured'by
<br /> .i tkus Mortgage:
<br /> +� The insurance carrier pro*riding t[ie insurauce shat! bc c[�osen by I3or�•o�vcr suhject to approvuf - by Lender,
<br /> " {�roVided, that such approvt�l shall noE' be unreasonabl,y withhe�d: All premiuzns on insw�nn�e �olicies sF2�til be paid
<br /> � + at ],ender's option in ttie manner provided under paragraph 2 ��ereot or by $orrocver malci�g paymen�, �vhen due,
<br /> � , , di�ect3y to the insuranee carrier. '
<br /> ` I� the :event any. policy is not renewed on or before �en days of its expiration, -the Lender, to protect
<br /> ; � its interest, may procare insurance on the improvements, pay the premiums and such sum shali become
<br /> iin;nediately due and payabte with interest at the rate set forth in said note un�il paid and shall be
<br /> secured hy thie Mortgage. Failure by BoTrower ta comply may, at op�ion of Lender, constitute a default
<br /> � ' umder `the terms of ttiis Mortgage.
<br /> All insuiance polieies and renew�n:ls thereof sE�all he in fori�� 'acceptable io Lendcr �nd shall include a� stnndard
<br /> � naortga�e clause in iavor of,apd in form ar,ceptable io Lender. I.eiider �l�a}l k�nvc the right zo hold the golicies nnd
<br /> � , � renewals thereof, �tind Borrower shnit promptly iiarni,h to Lender nll renewa3 notices und all receipfs af paid pre-
<br /> :� ' � ` iniurus. In the event of loss, Borrower �l�nll giee proin�i notic-e to che insursncc carrier and I.ender, �nd Lender
<br /> 3 may- make proof of lvas if not made promptly b� Borrower.
<br /> � Unless Lender an� Borraw er oth2rwi;e agree ia �vriting, ix�aurnn�e pr�ceeils sl�all be a��plied to re�to.ation or
<br /> j repair;of the Property damaged; provided such resioration or repnii is er.orfomically- feasi�le ttind ihe security. of �
<br /> `, < <} ' t}:�s tlZortg3ge is not t!zereby impaire�. If sucl� restor�t,ion m• r�pair is not economicsliy feasible or if 't?ie secnrity
<br /> " ) of this 112ortgage woulcl Ue impaired; tlie insurance proceeds sl�all bc ap�lied to the sums se�ured tiythis A4ortgage;
<br /> � wiih the excess, if any; paid to Borro�caer. If tlie Yropertp is abamtidoned by I3arrower or if Borrower iuils to iespond
<br /> � to I,ender withim 30 days after nutiee by l.,ender to Borrotiver t��nt the insurance carrier offers to settle a claim for
<br /> � iusurance benefits, Lender is authorized to collect and appl}• ihe insurunee nroceeds At Lender's option either to
<br /> ` restoration orrepair of theProperty or to ttie surns secured by- this \iortgage.
<br /> ; � Unless Lender snd �orrower otherwise agree in n•ritiug, anysuch appt3ention of proceeds to principal shal!
<br /> : � not extend or postpone the due dnte o€ the inonthly installments re[erred to irs paragraphs I and 2 l�ereos or change
<br /> , � ° tlze amount af such installmentsi
<br />� ', '-` ; Tf under,psrs�r�p?n 18 hereof the YToperty is acquired b,y Le�ider. ' nll riaht, title and �nterest of P>orrower in
<br /> � and to-any insurance policies and in and to t11e psroceeds thereot (to tlic exte�t of the suins- secure� by this 141ort-
<br /> "; ` gage immediately prica to suelr snle ar - acquisi6ion) resultin{; irom damage, ta tlie I'ropert,y E�rior to the sule or
<br /> f aoquisition shali pass to Lender.
<br /> � 6. Preservation �ad Mmntenaaee oI Propez3y; Leaseholc�.v; Condomininms. Borrow�er .haIl keep the Prop-
<br /> er�y in good repair anc.i shalL not permit or commit zvaste, imp�irtueni, or d�terioration of the Property nnd shall
<br /> ;' ,� coznply with t-he provis�ons of any lease, if this \fortgage is on n Jeasehold . If this Zfort�age is on a condominium
<br /> + ;; 'a, ' unat,:Borrower shull perform all of Borrower's obligations und.er the declaraiion of eondominium or master deed ,
<br /> * ` ;, "' tlze t�y-laws and reguls.iions of the condominium project and c�nstituent uocumenis.
<br /> ^ 7. ,Protection of Leader s Security. lf Borrower fails to perform ihe ccrvenaints snd a.greements contained in
<br /> � " this 17ortgage, or if any action or �roeeeding is commeneed whsch materially affecGs Lender's interest in the Prop-
<br /> 4 erty, including, but not limited to; eca�inent domain , insohen�y, code enforeement, or arr�n�ements or proceed-
<br /> ingsrinvolving a bankrupt or decedenc, then Lenc3er at Lender'� option , upon. notice to f3orrower, may make sueh
<br /> ' appearanees, disburse sucli sums nnd iAke sucli acti�n as is n�cessnry to protect Lender's interest, inciUding, but
<br /> � rio� limited _�o, disbursement o€ reasc�nable attorney's fee; an�� cntry upon t}�e Yro��erty to make repairs. Any
<br /> i _ arraounts disbursed 6y I.ender pursuani to this pasagrap}i 7, ���i�h interest thereon, shall becon�e additional indebt-
<br /> �ci�ese ofBorrower sec:ared by this li�rtgage. Un�ess Bo:rower �nd I.ender a.gree to ather i.�erms of payrnent, sucki
<br /> ar�ounfs shall be payable upon notice fronz Lender to Borrov.•ea reqeesting p�yment �tiereo3', and shull bear inter-
<br /> est irom the date of disbursement at t;he rate stated in the Not�e unless p;�yment of inierest at such rate would be
<br /> co�trary,to applicable law; in whicl� evenL such unounts sha�l bear interesi at the highest rnte permiesible by
<br /> ` applicabie, daw. \Tpthin� contained in it�is parugrapli 7 shall r.equire Lender to incur any expense or do any act
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<br /> � heseunder.
<br /> ` . '€ 8. Iasp�ciion. . I,e��der ms.y make or cause io he inride i•e�souable ciitries upvn snd ir.�spectio:is oi ttie Prop-
<br />� ', er+��; grocided that Le�der sh�.21 give $orroti�•er notice �n�ior to �zi�,r st�rh insperttion specis`}�ing ressonable csuse
<br />�'' i .. � . :��3�8:�: 2'S..a..S.�'� �LO 1..@::'SaT ,�,' 2IICf:="@Si� �S: Lhu VrLru:•rsr, . . . . .
<br />� . } 9. Condemaauoa_ . Tlie ��roceeds of any un-ard or claim �or da�nages, direct or consequential, in aonnection
<br /> wi� sny condemnatior or other takic�g of ciie Frv��ert}y, or jaa=t thereof; er *or cenvYyxnr,e irz ]ieu of eonde:nna-
<br /> tioai, are heret�y assigEieri and shsl4 be paid t� Leu�er.
<br /> ,. ".' In the e�:ent of a total taking of the Property, the �7roceeds shall 11e applicd to t:he sums secured by ihis Mort- '
<br /> ; ga,ge, tivith the excess, if anv, �>a,id tn $orro�ver.' In tl �e event of n partial tukin� oi the Pro�ert}• , unles= Borrower " ,� ' " ' " �
<br /> �, snd Leiider otherwise agree in writin�, there sl�xil ba ap�ilied tti tlie suans seeured bt- this �tortgaga such propor- '�,��'
<br /> tio� of the �rroceeds as "ss equsl to that proportion which the an�ount of the sums secured bar this A1�rtgage imme- '
<br /> f �i dis.telyprior to the date of taking bea3rs 2o tl�e fai3 ivarl:et valise o[ tl�e Yroperty iinmediat�ly }�rior ta G:�c dat� of .�� . .
<br /> � tatcing„witfi� the balattae of, the :proo�s paid to Borrower. s�.�'
<br /> If tha Property as sbaudone� by Borruwer or if <titsr -�otice t�y Lender to Sorro�ver tha.i tlie condemnor offers �' . . .
<br /> to nin�Ce sn s�rard or seitte a claim fax daniages; 3iorros��ex� iai1� co respond to Lencier a-ir,n3n SU days o3 the dnte
<br /> ; oi nuc� n�r�ice, Z.ender se nutnorizeci to euilect anci a}���iy ihe ps•ocencis ac Ler�der's uptiun �ici�ei• io resUoracion or
<br /> - repmiru# the PraperLy v� to the sums seeurr,d by tlxie 1lortgaqr, .
<br /> TJaless I.�eaider and BorroweT other�vise agree in writing, a��y such application oi proceeds to principsl shall
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