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<br /> � �' II undec �saragraph 1 $ I�ittrt.of the fyroperty ��; sold or tl�ie Prop�rt,v i< <�thcrwi�� � ua'� uired 6y L�_nder, I.ender . � �
<br /> ahall apply, no latcr ttiun immeciintely �irior tu tl � e srilu oi thc Proficrtp oi it.� acqui� ition by f .cnrinr, rurv �'und +
<br /> � lield by �Lcnder nt the timc ot apf�>liea�iori a� .i r�rc;ciii nguin�t tlic ��:rr» sccurect hp thi� _t9�ortKage. �
<br /> 3. Applls-ation of Payments_ Unit�s applic:a,bte Inw r�rovi� le�s utherwi�e� , all p.�ymGnfs received by L�nder
<br /> � �under the NoC.e��and nttr-agrapli� 1 :ind `t �heraof :�h:�dl� he apptiec! by 7,eucicr hrst in pEiycr�erit of umounts payable to �
<br /> Lender 6y Borrpwer under poragranh 2 hereof, their to interest p:xy-:iblr_ on ihe Notc a.nd on Puturr. Advnnees, if
<br /> Any, and then to the prineipal of the Note and io tire principal of I�ut�xre Advance, ei. nny.
<br /> C� 4. Charga�s; Liens_ Borrower �hal! pav al! ta,�e�, e�sessmentn �. r�d other cl�;�rgcr,, tines nnd impositions aGtrih-
<br /> Z'"- utable to the Property which may ntt�.in xa priorSLy over tl�is 11ort.gnge, and ground rent�, if at�q, at Lender's
<br /> �' C�t option in the naanner provided under }�arngrstrrtr 2 hereof ar { �y F3orro�ver making pxyrnent, when ctue, ciirect3y to
<br /> f,1,i the payee ther�of. Borrower z�half prompt.ty turuis}i to 7.ender all t�otices of amoimt.s due under this para�rnph,
<br /> f',r,7' and in the everst Borrower slialI znako ' E�aynient directly , Borrawer sliitll iararnptl,y furnish to I.ender<receipts evi-
<br /> Q dencin� such paymeznts. ]3brrower shull promptly ciischurge any 1zetY which hai xirioriG� over tl�is ��lortgage ; - pra
<br /> t � , vided� that 73orrower shaIl not be require�t to discYxsrge nn,y su�h liern so long as ISorrower shatl ugree in writir3g to
<br /> � � thepayment. of tlie abligation secured by such lien in a mnnnerneceptable ta Lender, or shnil in goo�i faith conteat
<br /> i � such lien by,_Qr defead enfnrcement of sucl� lien in , le�ni proceedinga �vl�icti oiier:�te to �revent the er�forcement of
<br /> � the liea or forfeiture of tlie Pro�>erty pr uny part tlzereof.
<br /> " : 5. Hazazd 7nsuraace. $arrowershall keep ttzc itnprovemm�ts nocv esisting oi� liereafter ei•ected on t,he P"rop-
<br /> ; ecty insured against loss by fire, hazardsincluded cvithin the terrn "extended eoverage"r anci such ottiei• }iazarda as
<br /> T,ender xnay reguirc and in such arnounts ssiid for sucli 'pei•iods us I.e�nder may reryuire ; provided ; thut Lender shall
<br /> ' nob requice. tt�ztt thearnoant oEsuch r,overa�e exceec3 tLZt umount of co�rerage'required to pny the sums secured 'by ,
<br /> " '` th3s Mortgage� _
<br /> � The insuru�oe carrier providing :the insurance sl�all ` be chosen by $orrower -sutiject to spproval 6y Leczder; '
<br /> provideci, that svch approval shnll notbe unreusonaUly withheld . Alt premiums on. insurance policies shall : be paid
<br /> ; nt Lender's option iii tt�e inanner provided unde�• pa,ragrapli 2 ]iereof or by Borro�ver rnaking paymenti; tvhen due,
<br /> � directIy tp'the insurunee carrierr
<br /> In the ev�nt any policy is not renewed on or before ten days of its expiration; the Lender, to protect
<br /> its intereFt, may pracure insurance on the improvements, pay the premiums and` such sum shall becorne
<br /> immecliately due and payable with interest at the rate set forth in said note until paid and shall be
<br /> secured by this Mortgage. Failure Uy $orrower to comply may, at option of Lender, constitute a default -
<br /> under the 'terms of -this MoTtgage.
<br /> All ineurAnce poiicies and renewa]s tliereof sh�ill I�c in ioi•in nr,cc:ptuble to' I.ender s�,rx<l shall inclu�le a stanclurd
<br /> ,' mortgage clause in fu.voroPand in form acceptable fo Lender. Lender shull have thr, rigi�t to hold the' }iolicies and
<br /> ` renewals tlieraoi; a�id Borrower sh3ll promptly furnish to Lender all renewal noticr,s and ull receipts of paid pre-
<br /> � : miums. Imthe event of loss, I3orrower shall give prompt noiice to t.l-ic insurance currier nnd I.ender, and rLender
<br /> may , make;prooz aF, loss if not mac3e promptly by $oi•rowei:
<br /> Unless Lender and Borrower otiierwise agree in �vriting; insui•ancc proceeds shull be nE�plied to restoration or '
<br /> � . repair of the Property clamaged, provided sucli resioration or repair is econouiically r"�asil�le nnd Uic securitv �i
<br /> this -Liortgage is not inereby impairnd. 1i such restor�ition or repair is uot economically tessii�le or if the secvsity '�
<br /> �f this \Zortgag� wouS� be impaire��'., i'.�e ;tisurance Fsroceeds shall Le :s���ztieu to the sun:s seeu:zed uy ihis �Iortg,age, '
<br /> y;, , witli the exeess, iLany, paicl to Borro�wer_ If the Yro�crty is ai>andoned Iay Borrocver or :i Borrot+�er fails to sespond -
<br /> s to Lender within 30 daysafter notice k�y Lender to }3orrower ihdt tha i��surance cnrrier offerc to settle �. ;clairn for
<br /> �� insurance benefcts, I:ender is authorized to collect a.iid apply the insurnnce pi•oceeds at I,ender's option either to
<br /> restoration or repair of the l'roperty or to the sums secured by this � Im•tgage.
<br /> Unless Lender and Borrotver otherwise agree in writing, any such ai��piication of proceeds to principal` s3�s11
<br /> ' not'e�ctend or postpone the 'due dnte of the uionthly anstallments raferred to in paragraphs 1 aiid 2 hereof or change
<br /> 3 the amountof sucti installments. '-
<br /> If under parngruph 18 hereof the Property is acquired by- Lender, ap right, title and interest bf Borrower in
<br /> and to any insuranee policies aiid ia� and to thc p��oceeds fliereoi (io tlie extent of the sun�s seeured by this b•fort- .
<br /> gage immediateiy prior tio such saic or �aequisitiou � resulting from auinu�;e to the Yroperty j�riar t-0 the sale or
<br /> � `, � acquisition shall pass to Lender,
<br /> 6. Preserva3ion and Mmntencu�ce of Property,- Leaseholds; Condominiums. Borrower shssll keep the Prop- '
<br /> erty in �opd repsir and shall not permit or commit tvaste, iinpairmeni, or cleterioration of the I'roperty and sfiall
<br /> � comply with tIie provisions of acyy lense, if this \1orEgage is on u leasahold. If this blortgage is on a condominium
<br /> � ; unit, Borrower siiall ,perform �Il of Iiorro�ver's obligntions under t}�e decluzatiun of conc3ominium or master deed ;
<br /> tGe by-iaws and regul3tions of the sondominiuru project and constituent documents.
<br /> , 7. Psotection of Lendei s 5eev.=ity. If Borrowrer fails io pertorn� the eovenants and :tgreements contained in
<br /> this i\Zortgage; or if any sciion or proceeding is comr7�enced which m:�terially aifectsI.ender's interest in the Prop-
<br /> erty, includin�, bnt not limited 'to; eminent• domuin , in;olvency, code enSorcement, or arrangements or proceed-
<br /> ings invoiving a bankrupt or decedent, then Lender nt I,endei's o}ition, upbn notice to Sorrower, may make such
<br /> appearances, dist�urse such suis�s �nd take such actir�n axs is necessary- to pmtect Lender 's interest, including, but
<br /> not limited to, c� isbursement of ressonable attorney 's fees anrl entrg- u�on the Yroperty to make repairs. Any
<br /> amounts disuursc.d by I.endei• pursuani to this paragi.zpli 7, tivitli iniex-est thereori , shall F�eeonie additional indebt-
<br /> edness of Borrawer secured by this llortgage. Unless Borro�ver �od I.ender agree to other terms of pa,yrnent, such
<br /> � amounts ahall .be j>ayable upon noticc from I.ender io Borro�;•er requesting pnyment tliereof, snd st�all bear icit�er-
<br /> � est from tl�e date of disbursement ax t1�e rute stated in the _Rote unless �iayment af interest at sucl� rate wouid be
<br /> contrary to appi3cable law, in �vhieh event sucl� acriouiits shal] be�r interest a 't the highest rate pennissible by
<br /> applicable law. 1'�'othing contained in this paragrap} � 7 sh� ll require I�encler to incur �ny expense or do nny act
<br /> hereunder.
<br /> • 8. inspectioa. I.ender rnay inake ar cause to }re 311R({C reaconai7lc entrie�: upo�r an{i inspecbions of the Pre�n_
<br /> ertY, provided t}� al Lender shall �ive Aorron•e�• notire �uior = c� ��i, ,.y . ucl � ias�rect,ioii ,r �r. ciiving reaeunai�le ca{ase
<br /> , therefor relate:: ;,:= I,en�.cr'� sniereaG in r,i�e t'rc,,sett� . �
<br /> .�.,, r+OTSd6 u+"�i�DG� �. IiiC� ]`iTOC2EC�5 Of �.1ri5 s1'v8I'G'�. OC C�R: Iit 1C11' 4i3 "'..id'�. ^cS�: L'aYcC�: 0: �C CC�ii^ciiuiwi� ITi uviiAEuozai� . .
<br /> rc�th any eos�r3�+���itio� �r otl;er t��iag ef tl.c !'i•opc .G , c=• part tl�e, �-c,f, o�� f�r com•ev3rce. in lie:u of candemn:ti- �
<br /> tion, are hereb�* t�ssigned anci shalI I�epaid to Len�ei
<br /> In the e�Fenf, �f a kotal talcing of the E'roperty, ttzt �irooecc�c ,hnl! lre �a��plie�i t« t,l�e �� an�c scc"red b;� t!xis _v£o�i- . I
<br /> pxge, witk�.the+;excess, if any , paid io Borrozver. ln ttxe event vf n partinl tnking oi thc t-ro�7r.rty , unless 3a•r��w:er � ` ' �^
<br /> ' and i„�ttder, otherwise agree in writ's�g, there slrali be ap��lied to the sums secured by tlxzs AfoiN:gage such propor- s 3,. . , � �`� "
<br /> �' tio� vf the proaeeds as is equt�l to tlrxt proportion which the amount of the sunis secured b,y this �liortgage irarrse- ,�N" :'
<br /> distsly grior ta i�ae dat� aF taking beats to tl3e fair uxarkeL value oi ttae Yro��ei�t,y irnmediatelp prior to tiie date of ` �t��
<br /> takiug, with the;3�lanee of the proce+eds p�id to Bvrro��er. -L�" p
<br /> If thi�'Pro�enty is avandon�ed by Borrow ex• or if fx.iter i�otice by Les�der io Borrower t}iat tf�e condemnar offers -��
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<br /> �. : f�u iur�ic� +�.q aSNard �r secti3e a clairn 3or c;ama�es; t3�rrowFr 1':�iis ta res�oi�d to l�endcr titi-ii3iin 30 d�ps of the datc , '
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<br /> '� uf eucli ,ati,6i�e, :I,�v�uer i� au�liorized tio coliect and s�a��ly tne ��mceecls a�t Lender'a optior citl3er T.� restoratiun or `
<br /> � ' repair of �the Prop�erty ar t,o the suins sc�urec� 63 tLis :! Sortgage.
<br /> r Unlees i,and�r and- }3orrower rst,�envise agree in �vritiag, any sue� a,�plication of proeee�is to principal sl�all
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