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<br /> I€ under jrar�t,grs�ph IS }iereof zh� Prc�perrty i� soici E�r the i'roperey is othcrwi�e rw<�µiire�d b�: Lenc�er, I.enc3er
<br /> ,halI apply, no laier tlr:tri imrnediutely ��rior to the M:xlc ot tlic Yrai�cre�- or its :tce;iii�ition t, v:r f;cmdec•, :iny F�tr+c3s
<br /> heldby Fxncier at ttte tinie of nppticaGiou as a- crc�iit a�;��inst tlic si.uns �ecrurcd bW� rhis \1nrr����e. � �
<br /> 3. Applic¢tioa of Paymenta. L7nles� nF���licablc l:�.tir provir.ie, othenvi»e, <<il payment� receiceri by Lend,er
<br /> uaider theNote and paragrmpits 1 nnr3 2 1�ereo€ sU�ll br ai�� �lird hy I.enctcrr first in pEti,ymrnt os atnounts pnyable zo
<br /> Lend�r t�y Borrowor urrder, para�rapl� 2 Lereof, tlien t:o Snterest 1 >«Lvable c+n tf3r. tiqtc an�l ar� Futurc �,clvancea , if
<br /> any; axid then to t}re princiF��l of the I��ote an�i to t,lie �>rivai��zl a£ I'uture rlric�nce,, ii any.
<br /> 4. , Ch�ges: f.i�as., . F3orrowershall }�ay atI ta.xes,.assessments and oiher chs�rges, firics and imposibionsattrib-
<br /> ' � utsble.: to, the Property w�tich muy attsiri a prraority ov£r t,his _l'f.ortgage, anci gr�u�id renC:: ; i[ �ny, mt Lender's
<br /> � optian �a Q6e maunes providecl under pa�i:�gruph �' hereoi or Iry I3orrower anaking iauy�ment, s��lien due; directly rto
<br /> ; � the p�yee thereaf_ Rorrower shull pramjytly furnist� to I�oncter all° notices of amounts due under Elzis paragraph,
<br /> ` aa�d in the event Borran>er shalt inal:c �uyment directip, I3orrower stii�ll {a�raxciptly iurni�li tca I.enaer receipts evi-
<br /> a�
<br /> ; � ` denpin� sueh paynients. =$orrowec s}2�I1 �>romptly discfrarge nny lien whieh i�ns prioritv over this ltortgage ; pro-
<br /> ,�'� � � - vided: ttaat Ddrrower aha11 not`be rec{uired to dischar�{e any suekd lien so lang-tj.s 13orrower sh�1l agree in writing xo
<br /> ,� � '� � the paymea6 a£ the 6bligAtion secureci hy such Iien iri :�. �rsanner xcc.e}�table #o Lc,nder; or s1�all in goo�i faith contest
<br /> such lien by, or 3stend enfarcement of suol� lien in , leg�I �iToceedings wliic� operaEe to �arero•rnt the enEorcement af
<br /> `: � . the lien ar forfeiture oF 'tihe Property or ttiny ��art iiiereof _ ' '
<br /> � � $� 5. "Fiazard Iasur�sce. Bonaw er shall keep tlie iiu�rovements nou� existing or Y�e.reafter erected on the Prap-
<br /> , '� es-ty insured againsE loss by fire; hazards inciuded �r•ithin tlie term ' `extended covezage", und suc3i othei� tiazards as
<br /> -. ; � Lendes may reqtxire nnd in suclr nuiounts nncl tor such �7ei�iods us T.ender map require ; provi�sed , thaE Ler�der ahall
<br /> � . ' i not reguire ttiat>the an2ount afsuch caeerage exceed tliat a�matmt bf r,overage required to ;}�ay- the s}3ms secured.' by
<br /> r .� � � � ; :
<br /> t '. this ?S3s�rtgttge. ;
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<br /> , .� - Tlae in�uruncecanzer providiug tLe insurance sh�Ii be chosen 6y i3csrr��ver subject to spprovnl !�y Lendea ; ,
<br /> �` S '` provided, that sucfrappzoval s1�alLnoi be unreasonably �sithheld� All premiums on insurunce �olicies sirallbe paid -
<br /> � st Lender's o�atian in the m�snner x�rovided imdei• paragraph ? ]iereof or by- Borrower making payment, tivhen ' due,
<br /> � ! ' directI� to the fvsurance earrier.
<br /> ', ; In the event any policy is not renewed on or before ten days of its eacpiration, ttie Lender, ta prot+ect
<br /> � " ' �' its interest, may procure insurance on tihe improvem�nts, pay #he premiums and suc� sum shall becorne
<br /> ; ; immediately' due and "payable wi�h interest at the rste set forth in said note until paid and shall be '
<br /> �y = } ' secured by this �lortgage: Failure by Burrower to +eomply may, at opiion of Lender, constitute a �lefault '
<br /> ; ` under the terms of thie �4ortgage_ '
<br /> i �11 insurance policies and renewals thereof ali:� fl be in iorm accentttb]e to I.ender zln<I slia+: ll include a standard
<br /> ;- � ` ' iiiortgage clause in favor af und`in form acce�table to Lendee•. I.�ender sha2i l�ave t1Se riehb io _ liold 'the policies and
<br /> , , ; , renewals thereot, snd I3orrawer sha11 ��romptly furnisli Lo i.ender �i1 renetval n�tices and ati receipts oi pai�l; pre-
<br /> i ` miums> In the event oi loss, Sorro�ver shall �iue promp� notiee to tl�e insurance essrrier anci I.ender, and Lenc3er
<br /> i caay ivake proof f loss if not made promptly Ly Borroever.
<br /> �` ' S .TT � T �__ .l _ l .T .
<br /> V�IIGDA L4'i1LLC1' i1ltll o�Y1 �N'Ci' v��ixCtw�3S6. i3f;2'P,C. ltl Nl'ILllle� ll1SllI'l:.T1L'C.�. �:7SGCeCC�S S�1811. �12 3�j3 �1�(� � tU SCSLOTAt10R - 02 �
<br />�: o repair: oi the PcaFerty damaged; pros•ided such restorai�on or repair is ceonatnic:alig ieusik�le nnd the security of >
<br /> thie ti�ortgage is iaof, tliereby impaired. if suclr resioraticrn or repair is not economicsily fe�sible or if the security
<br /> ; ' i - of this lEortgage would l�e impaired ; :il�e insurance groce�ds slrall be. app.ied to the sums secured by this - il4ortgage, .
<br /> � ' with the excess, if strry, paid ta Borrower. If the l?rope:-t,y is abnndoned bv Borron•er or ii' Borrower iaiis to tespond
<br /> s . to Lender wittain 30 d�ys afGer noiice by Lende.r io Borrod�er t1�at ilre insurance c�.rrier offexs to settie ' a claim for
<br /> ;, ; insursnce benefits, Lender is su 'thorixed to �ollect- and 3.pp1y f.lie insurance proceeds at Leneier's option . either �to
<br /> ,
<br /> i, . '� . . :L5t^T�t10RUI. SP-nd.11'. O� :t�lt: pY4J)L'.ifV - 01' .f0 t}Ip �`!2;Lu Af:rl;ri't� �))'. +.lii: .\[QL'Lai�af. � . . . . .. '�..�
<br /> " .i Uriless iencier and . Eiorro�yer osl�envise sgree iii �vriting, anv sucti a�3plieation of E�roceeds to principal slisll
<br /> � not extend or postpona: the due date of the monilily instailments referred to in paragraphs 1 and 2 hereof or change
<br /> ; the amount of sueh instslimen�s:
<br /> ;, ; If underparagraph :l6 hereof the Yroperi•}* is acquired Uy� I:ender; �:ai i•igl�t, title anft ins,eresG of Borrower :in
<br /> ^ ^,' , i a�d to :arny insuranec policies �nd in and to the }�roceed� tliereoi (io tUc extent oi the sums secured Uy this blort-
<br /> E � ; ; gage;.immediately prior to such sale r�r acquisit.ion ) resulting irum durrzage to t:lie Yropert5- prior to ihe sale : or
<br /> acquisition shali g�ass to Lender:
<br /> ; 6. Presezvation and Mmntenance of Progerty, Leaseholds; Condominiums. I3orrower shall keep the Prop-
<br /> �. " �rty in gaod rep�ir and shall not perrnii or conlmic waste, impninnent, or deterioraiion oi the Property and shail
<br /> , comply with the provisions oi any iease, Si this \Iortgage is on a leasetiold_ ti this \lortgage ss on a condominiusn
<br /> ; unit, Boraower shralt perform all of Sorrower's obligntions under the declaraiion of condomir_ium or master deed,
<br /> t�:eby-laws ai3d regulntions of [he candominium ��rojec� and cansiiiuent c'socuinents:
<br /> ? �. Pzotectioa of Lender's Security. If Borrower isals to perform t6e covenants and agreements contained in
<br /> ; Lhis l�Iortgage, or ii any ,aciion or proceeding is commenced whicli ai�ateriaily aflects Lender's interest in the Pro�-
<br /> erLy„ ix3cluding, but not. limited i.a, eniinent doTnain, in�ah•ency . code eniorcement, or ni•rangenienis or proceed-
<br /> ings znvolving a bankrupG or decede�i; then Lender ai, Lender's opiiou . up�n notiee. to Borro�ver; may make such
<br /> `. appearances, di�burse sucli sums ainc3 i.ake such iiciion u= is necessary to protect Lender's inieresC, including, but
<br /> " ., y not limited :to., dis�urseuzent of reasona�le .a#wra�ey's f�es aii�l eciiry uT�on the Prnperty to ix�aice re�sirs. Auy
<br /> azraounts dis�urseri bV Lender pursuanlr. to i.his paragra�l� 7 , �viil� interest thereoaz , s12a11 Uecom�e additional iudeb�-
<br /> - . edness of Borrowersecured by this tiSortgage. Unless Barrower ax�c3 Lender agree to ot}ier ierrns of paymer.t, suc�
<br /> ` amounts st�all be payable upon notice from Lencier to Borro�i-er requestix�� }�ayment i:hereof, �nd sl�all bear inter- '
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<br /> � ; est fsorn the aate oP disburserneni at the ratc stated in ttae \ofs uniess paj.-ment of inieresG a� such rate would Ise
<br /> G oantrary :to applics6le lativ, zn �vhicl�. event =uch amounis si�all bear interest at t.l�e highest rate permissible )sy
<br /> �, ": a�plieaktle la�r. ?.�othing contained ir, tHis para�raph 7 sl�ail requirc I.encier �o incuc any ex77ense or do any act
<br /> �. hereunc3er.
<br /> 8. Inspectiora. l.encier ir�ay mal�e or cau=e to he inade rearonat�lc entrie� uj:�on snd ix�spections of thc Prop-
<br /> . eray. -�rorided chmt Lender sli�ll gi�^e Borrotser nociar. � �ria� to .in}• su<•li inspecr4ion specii}-�n� reasonuble c�use
<br /> � < iher�for relatsd to I�endez's interest an the Propert,y.
<br /> 4. Condea�auiian.. The proceeds of> an�: ativn,.rd nr elsim for c� amages, direc 'x or consequeniisl, in connecLicy�
<br /> w� "ath �zay conden3nation or other taking flS the I'rof�eriv . m� parc zl�ereo[. c:r for 'eon�-eyanee in lieu oi c�ondenin�-
<br /> - iion,-az�e hereUy assigsieci and shaU be paid to Lender.
<br /> R � In the event o# a total ttckin� at xhe Yro7zerty, tl�e ��roceeds �lxaJl lm apaplied t:o the sums aecureci b�• tlxis �iort- - . -;»�
<br /> gage, �iti� the exe�ess, ii an�•, ��aid ta I3orroerer. Iu tl�e e�-ent uf s psrtial t�king of the Yra�?e_*�t}�, uuless Borrower # �
<br /> a�zd I.�c�d�er other�ise agree in wriLing, t3��re �1�a13 be aj>g�lieel to t1�e suinr �ecured 6� thi, �icartgaga sucli Nropor- �`, �
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<br /> Lian oT � roc,�et3.s as is ual Co Llx�t ro rsion wi�ich alie ar3�ounL ot tlxe sums secured by� z.his :1SorL a e i�nme- ." '" " "
<br /> p et: ecl I� 4w B g a S�F� , '
<br /> '�„ disteiy prior t�a il�e date of tsking b�ais i� the s'xir ix�arkc:� .�xlue c�i tdie Yrc3perci• immediatcl�- prior io i}ie date o�f �,�``'�, ,
<br /> b a
<br /> Ls�iug,. wat,ti.the :l�a3ar�ce. of ihe proceec3s {�aid to $orrower_ ':�� ,`
<br />� Ti �tlte I'raper�w is abandotiecl b4 �orrofi+er or ii after nouce bs� I.ender ta liorrviver tl�st tk�e ce�a�earsaor offen ��'
<br /> ;,o mal:+cs stn ttuard or �c:Ltle a clauu f�r tiunut�es; l3an-ou�.er fails tu i•esponc-� ia T.ender w�ithin 30 �3ays oi Lf�e daLe
<br /> of saeh` swi:c�, 7sesad�r i5 autt3oriu.�i � coldeet a�id �3�l�Iti- tFxe �jroceede ai E.ender', o�tion eit�er to reeioration o�
<br /> t� ... ry `
<br />� a�epair tsf t,he.Pro�esrty or to the sums secured by tltis _llaregage.
<br />� ....
<br /> T�r.xese i.ender and Barrasuer oG2a�envise sgree 5n w�sci:ing, any sucii ap�rIicatiian oi proce�ds w principai shazi
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