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<br /> gf under parn(;sapk� IR lie.reot t,lre i'ro�7ertr' is sold or iPar Prc�;aert,y iy otiier�vise e�� vc; uireci by� Lencier. 1.ender
<br /> ,iissll npply, rnn later tit::�n itumer3iutely t�ri�r to thc s:ile �f ttu• }'rc�;�crr}- ��r it � a�-rui� ition t�: T,etxier . any� Funcls
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<br /> � Ircld ��y I.eniter at tk'ie tin�c i�£ alaplt�e�tiox� ..� is crc�drt :>�,ainnt tlio siian, he� eured t�ti- thi� 1�torr �!��a �
<br /> � 3. Applieadon ot Paymeats. ilnless u��plioahl�^ laitiz ��r���•i�ie� uther�vi�c. :� tl pivinents � reaeraved k��- I.ender
<br /> audesthe :Qo€p rsnd pa�grap���: l t�nci2 her� of sl�ull bc ssj�plied 1>� I.endcr t3rMC iix � pyycnent oF� nnaount�s � ��inpabIc � t.o � �
<br /> � T.end�r by Borrower uruler paragr�4�h 2 I4ereqf, ttiei� co intt:rt•st � �:�yni.ilc• nz� tl�c 1'otc an�l. e�n '[�utuxe Ac-fvances, it
<br /> uny, �nd theg to the pra.neipal �ai the i�ote sincl ta t}ic }srinciraal of I+uture =1d«:x�c, e., i �E' fltay.� � � � � �
<br /> ' +�. Charges; Liea�. - I3orrower shal! pa�,• nll tsixes, assh:ssiuents .�ud att�c.r chaz�g4s, fxiiea szad irnposiCidns attrib-
<br /> � utabi� to Ghe I'roperty� which msy settstin a priorify civer t �ii, �Iortgage; anci �round rents, xf rEny , �,t Lender's
<br /> � optia� in tho ma.nner psnvided cii�dor �aaxagxuTr}i 2 tiereof or b}r 33orran-er aai�kin� pa,r-nient, tvhen duc� direotiv to
<br /> � the ��lyee thereof: Borrower ;sliall promptiv fiirciisi� t,+a I.�ncier aIl natices ot sir�aunts due i�nder this YJAI'AgFDpI1 �
<br /> � �.,,,, und "t� tlie everrL Borrocx�er skzall.anake l>ayra�enG c3irect3y, I3orrotir•er sliall 3iron7ptiv : iurxiisii tv Leuder receipts evi- '
<br /> ', � denei�g sucli .pr�yments_ Borrpwer slaall ��romptly disclzarge �ciy� lic�n tvizich hay nrioriLy over this \fort �age ; pro-
<br /> ' � vide�; that £3orrower s1�11 n�t be required to �3isclaarge atsy sucit liea� so lan� as f3arrownr shi+.11 a�ree- in rvriting to
<br /> . � Q Ehe pzaynyent �of the obligatian secureci Ly scscit :liera in .� Y�i3nner ncccptahle ta Leneler, or slinll in gaod fnith contest
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<br /> ? Eneh �ieu �y, �r defend �nfo;ceirzn#, of �itch liEn in, ie�al r�ruceedin�a ivhicfx opera.te to pre�°ecat the -eia#orcement of
<br /> S � the liyen ar forfeiture of' �he Yropeity or unv part tl�ereoi.
<br /> ; � r..� S. Hazard inaurmice. Sanow�eT stiall kcej� 'tilie iiizprovements no�c existii�� c�r hereafter erected on the l'rop-
<br /> � 1'\ er�y i�sured against toss by fixe, hazards included within the terni "exten�ieci coverage'', anc9 s�ich oih�r �u�zurds ss
<br /> , f I.ender may require anc� in such amouiits ar_ti for suclx perioeis as Lendcr inap rer�uirc : �arovided, that Lender shelt
<br /> }` nnt require ttzut the amount of such co��era�e exceed thst aniount, of coverc�ge reqz�ired to pay the sums secured `by
<br /> r. �'' t.his �rlort�,*sge�.
<br /> '�'he ins�rsnce currier ��roviding tlie inauraiiae shall be chosen bti• Burrower stibject to approvai isy Leniier;
<br /> . . � �aro��ided, tHut-sucl� a�p�oval shall noi- be uzireasonabiy �vithheldr Al1 premiums on insnrnnce nolicies sl�ali pe paid
<br /> ;. 4 at Le�nder's option in i:h� munner provided ander paragraph 2 hereoi or b,y- I3orres�c�ev makin� pnyment, �vhen due,
<br /> s disec�ly to the insurance carrier. ' ,
<br /> ,��', Y �n the event any policy is nat renewed on or before ten dnys of its e�,-piration, the Lender, to protect •
<br /> ' ;` its im�erest, rna:,y procure insurance on the improvements; �ay the premiuzras nnd sucl� sum shall-Uecome
<br /> ,� immediately' due and �ayable with interest at the rate set forth in said note until paid and shall be '
<br /> secured by t�his Mortgage. Failure Uy $orrower to coinplu ,ma,y, at option of Lender, constitut� a default
<br /> { under the teims of ttLis MorEgage_
<br /> � �!I insurance poticies and rene�va'ts tliereot si�ail i>e it� ior�ii :�cce�acubie i.o I_ezacicr auei s'cica.li ir�ciucir. a �tu�+iia�r.i
<br /> t mort�age clause in favax of and in form accepiable t.o Lender. I.enc3er sliall havc Lhe right to hold iht policies nnd �
<br /> renevcals thereof, nnd Sorrower skn�Il promptly furnish ta Leiider al] renenrnl notiees and sll receiFiis oi paid :pre-
<br /> j �ninms. In the even;, of loss, I3orrower sli�i � �i��e grena��t n�Ti�e, t..� rhe insurnnce ' carrier ana Len�ler; and Lander
<br /> may :anake psooi ot loss if not made promptl,v by F3orro�4�m
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<br /> ; ��nley..= L-ender 2nd Rorroryer other�vise ngree ia wriifing msursnce pruceeds sl�al! Ue ap�ilied to res�aratian ar '
<br /> repais• of tlie Prnpert�, �urnaae�3 ; pro��Sded such restor:� tion or i•ept� ir is econuiiiic�iilj f�s�iblt: ttnd tl;e scauri�y of ' a
<br /> ' this lilorEgags'is not thereby in�paired. Ii such restoi:� tion or repain is not econurnicnu}� icas`sble or ii ii�e securit,y- ':�
<br /> of thgs tilort�ge .«�ould Le inipaired , 'the in�urs�ice ��roceeds -hn31 t�e xz�pticci to t13 e smrzs secured 1>y this 1l-Ioctgage, ,
<br /> 1 '� ivith �he excess; itany; paici to Borrower: IT the Property is ab� ndoned b�cl3orrotik en or if Borrocver fails to respond
<br /> to Lender within.30 days alter notice b,y . Lender to F3orro�ver Ll�s't ihe iasurance c;;rriet• otTers to settle a clnim far
<br /> � , � - insur�nce benefits, Lender is authorized fo collect. sad apply; ihc insurance }�roceeds at Lender's aption either to
<br /> i' restoratian or repuir oi f,heProperty ur to Ghe sums secvrerl k�y tliis �Iorigage.
<br /> ' €Tnless Lender anci I3otrower otherwise agree in �vrici�ig, ain- sucli application oi proceeds to F�rincipal siiall
<br /> � noi e�ctend or postpone �lie due dnte of the �xaontfily inst.iflments reierred to in ��rsgruplis l and 2liereaf or change-
<br /> ; the a�nount of such installments:
<br /> a : Yf under psrngrapts 18 hereof the Nropert,y is acquired b�• Lender, �,Il right , tit,le and interest, , o£ Borrower in
<br /> `� und ;�o any insurauroe polieies-und in und ia the proceeds ihereof tio tl�c estenc oi ihc �ums secured b�• this M1Sort-
<br /> � gage ; immedistely prior 6o sucl� sale qr .acquisi[.ion ) i•esul(ing irorn datnage to tFie Paoperty �rrior t.o st�e sale or
<br /> : � ucqui�itioz� shall puss to Lender.
<br /> " a 6. Presezvation �d Mmatenance o3 Property; Leaseholds: Condominiuxns_ 13crrower sl�nll keep t1:e Prop-
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<br /> ^.` i erty 3n goodsepair arid sliall not permit or commit waste, irnpairineiit, or deterioratiuii of tlie Yroperi�- nnd shsll !
<br /> , eomply with tlre �irovistans oi any lease, ii this Alort�age is on n ieasel�old . Tf t}iis llortgage is mi a condominium
<br /> ; unit, Borrower shnll perform alt oi Borrocver'� obiigations under i.lie decl�arntion of condoininium or master deed,
<br /> % Gheby-Ian�a and re�uiaz�ioas oi tk�e condominium proieci .and constituent doeuineaits,
<br /> y e"r. ,Protection a! Lg�dets Security. Ii 13orrower ta;�is to E�erTorm tkre covenants and sgrieanents contalued in
<br /> � tliis �'fortgage, or ii anS action ox proceeding is cocnmenced which z�nterially af'fects Lender's interest in the Ptap-
<br /> i erty, includin�, IiuG n�t limited to, eminent, doivain, ir3,olceucy, Gode enforaenie�n}; or m�rr�ngements or,prveeed-
<br /> u ings inSqlving a �rinkrispG or decedeni, then Lender �i- I.ender's o{:rtion, u�wn notice to Borrower; mz�:y +make such
<br /> � appearaitces, �lisliurse s�eti sums a�id take such act•io�z as is iier.esssr�� to �n•otect- Lendes's irztemst, inc�uding, but
<br /> ; � not• f�mited ta�, disliursement oi reasvnnLle ntLorpiey�'s tces and exitrr� upor� the Yropert,y to ms.ke re�airs. Anv
<br /> AIDOI311t5� C11SUU15CU d3 � LCAQQBI' . lll5Uail�. l',V t.iil; � i:a15 fu- it i, :�'iii. .:: '�C CS:.�.. ..;EI'E:S:: 1�, 11 . }��Cnri��, »4�{jt.jnnn�� lt2�je�1t;- �
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<br /> edness oi �orrower sec�red Ly,:.�is \-Iortgage. Unless 13urruwcr auci I.Enc3er ugree to oGher terms of payment, suclr
<br /> �, amo�nts shaii be payatsle u�on notice from Lender to Borro�ver rec�uesting paym�nt tl�ereof; antl shall bear inter
<br /> � est from the date oi dis�ursement ai tl�e rate stated in the \ote �iFiless paymeni ot iiiterest at suel� rate wou3d be
<br /> eontrary to spplicable law, in whiah evenL such :�muLfnts s':i�ll }aeur interest st t3ie 3�ighest. rate peria3issible by :
<br /> ; appli�abte law. \Toti�ia� contuined in iliis ��qrt�gra:I�h i slrnfl require Lender to 3nciir :in,y expense or do any acL
<br /> i l�ereunder.
<br /> 8. Ynspection. Le3��{er i�a:zy uzake or esuse ta he fna�i� rea�on:tble en± ries u;�on � nci e.i�pection. of the Prop-
<br /> i erk.y: pravided tl�at Lender �i�slt give Borroi��er notice � n�ior ter ar� �� �ucla inspe�.tir.�n �pecif.r3��� reasor.xkalr, c;ivae
<br /> there�or reiateed to-Lemi•er's intesest in the Propert.y.
<br /> = 9. Cpnd+emnatioa. Tlie proceeds of a.ny aw.qcd or clnim �or ria�muges; direct w• cunsequential, in vonnection
<br /> • with �ny e�ndenmaG'xon or oihea• takin�; oi the Y*•opert:�•, or purt xiiereoi, ar iur come.yance in lieu of conde.u�iia-
<br /> i • tian; :xre here�y ass�geic�ci ai�d shall }�e �uid # o Lcuder.
<br /> • �n the e�.•ettL of a total taking oi the Yraperty , tl�e 4�r�cGed� si�xvll t�e ai>�alicu t-a� nc� sun�s ��;ureal ��y i6is 1l�rt- ,
<br /> = gager >vith the exce�s, if uny. �raid t.o IIorrau•c:r. In the event oi a }+arta:il t,3king tif the Pro�» rty, uitl<�ss 13orrower ""'�� " �" "E
<br /> anri �uncieT othenvisP a.gt�.�e in wriGing, t.lisre sl�all be a.����lieci to tdze suins secure.�3 by ii�is �Iortga.�e suc.l� prapor- � � �
<br /> � tion s�S tl�e }�roceeds r�s acs equal to tkiat pro�or�io�a w hi �� t.l�e ss�niount of kl�e :uiun secured by xhis 11ort�age imtne- _'"' w�
<br /> diate�y priflr io ihe date of {aking bears to zl�e fair marlt� # �-aiur •�f the Pi�cpc :�' iea�u;zdiai�::� �+ri�r to t.lie date of ; ��'�
<br /> ' � ` taki�, wik� t�e.�anlar�c�e of the l +rocee�is paicl to 13orrow•sr. `� ,
<br /> + �f the Propertv is sbandonec3 Lay Borrcrsvea• or i£ iift�r na�ice I�v Lender to Bca=roa•er t.}iat, the condenmor o8'ers " � `.'
<br /> �.o apake an sat�ard or set�le u claim for d:�rnnges, Borrou�er i sils to res�,onc3 to L�nder «•it!3ii. 30 dvy s of thc date "" `
<br /> `.� of su+ch ttotic+�, Lender zs aui2�orizeci #o: cbl2ecG ttrid a}��a3y ilre ��roee��ds at I.�ender '. opi.ioi; eit:i�er co rescorat�iozi c�r �
<br /> re�si'zoS #�e �'roperiy osto 'the sutns Eecur� t�,y Uri. \iortK�gi. ""
<br /> ' : �7nTe�s T .ender and 13or��ver vt�er�vise, agree ai� �v�it.in�, suy suol� v#��licati+c�n of proce�ds t.o ��rinc:ipal chr� 11
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