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<br /> !f �inder paragraph I2� 6ereof th� kro{rerty is sulrl or the Property is o[ h�rci�ise cicquired =.�y f ,ender. Lender
<br /> .hull uprply, no later thun immedistely ��rior tq tha aalc nt elie 1'ropert:p or its ar.qui�it.ion I�4• Z .ender. anv k'unc35
<br /> held by I.ender at the time of rpplicatioet :�� :s credie a�ainat rf�� ,u�n. �e:curcrt r�p chi.� liorigage.
<br /> 3. tzlpplicaiian oE Pa�xnents, tTnless a��pticuhlc les«• �7ro�-ider otiiinvi�c . � il paymeiits received l�y Lender
<br /> � � usadertbe Note s+n�3 �arugraplia 1 ta.nc3 2 hcreo�� rsf�all� hc a��pliex9 � F�y 1,exu3cer flrei ir� � p�yxnent, ���i ;� sne�nnts paya�ble t�
<br /> I.ender by Borrower under pura�grszplt, 2 l�erevi, thr�ar to interest p;�yuble on t1i� ��1ote; .-anci on FiiLure �slvances, it
<br /> auy, and then to t.he principal of �he iVote an+ri to the ��rinci��sl -oE I�ut,ure :lrl �•c-�nocs; ii an,y.
<br /> 4. Chargos; Lies�. $�rrower slzall pny a,tl taxes, assrssmer �ts nacf ottier cl_arges, fines nnrl impasitions attrit-e -
<br /> � utable i:o the :P7a�erty whach mnyr �ett�in s g�riority over tliis .ltortgage; and ground rent.s, ia any, at Lende�s
<br /> optian fan the rnsnner prarided -under par3�rrm�.ih ;2 �ereaf or 17y �orro�cer ivakiz�g pa.yxzient; whRn due, directly t�o
<br /> the payee thereof. Borrawer shkll promptly £urnisit to 7;endar �Il i�at'sees of xmounLs dU� un�} er tliis px�ragrapf�,
<br /> � ,;, C7'a and in t31e event $orrower shall tnake payn�ent directlg; Aorro��:er shall rarum{sL13* furnisia to I.enc�er receipts evi-
<br /> ` �- denoing sttch payments: Bo�rrower sk�all-jarotnf�tly diseltarge axay lien whicli has Erriarity over this \Iortg3ge , pm-
<br /> , ¢ "',�' 7 vi�ied, t$1sE� I3oran�ver sha11 not be required ta r3isclinrge , 3ny suclz lien so ion� as I3orrocver slinll �gree in writing tn
<br /> �2 thapayia�ent af the obli�sGiyon secureci Uy sucix lien in .z rnr.�.aer a.ccepGable to; .T.enderr or rfia,ll in gooci faith contest " '
<br /> � ' ' �+ �ueh liez� by, or defend enfc�rrcenlent of sucli li�n in, legttl ��roceec3ings ati•hneh ot,er� te io prevent. L he enforcement o2 " "
<br /> � ' � ' the'lien ar forfeitnre of the Property or any ��aG•t thereof.
<br /> ��;f ; � S.' I3azard Fiisurance. Borzower shnll keep tlie ixnprovemeaitsl�ow existin� or hareaiter erected on tl�e Prop- ' t
<br /> � T"v, erGy ins�red sgainst loss by fire; ?.�.zartl3 inc:u�ed �vithir. t}re ter� "extended cos�esuge", and suctn otlier I�a2ards a�
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<br /> '<< � ' Lender may require and in sueh amounts anfl ior stceh pei�iocls a� I�ender may' require ; pr�vi<tecl , tt�at I.ender sl�a�l
<br /> i ; nat requ3re ttsat the amtiunt. of such aoverage �xceea that Amoun�t of eoverage, re cruirecl io pny th e sums secured`bg ` '
<br /> ,. , r chis Mortgsge.
<br /> r � � , The insurance carrier �roviding i[ie insurance shaii be cfiosen by Borrower suhjeet to z�pprovai by Lender ;
<br /> � providec3:, thatsuch approv�l shsilnot be ui2reasona.blV wif,hlield _ .�Il premiums on insurance poticies slaaiI be paid
<br /> ' � st Lender's option in tlie m:3nner provided under ��aragraph 2 hc.rcot' or �y Bor=osver nzaking ps.yment, when due , -
<br /> ' � _ directly io the insurance carrier: ;
<br /> � : ;� In �he event any poiScy is not renewed on or beEore te� days of its expiration, the Lender, to protect `
<br /> � ' its inter�s�, may procure ansurance on the 4mprovem�nts, pay the premitr.ins an8 such sUm shall becn�e '
<br /> E '{ immeiii�te3y due and pay�ble with interest at the rate set forth in 'said note until paid and shall be
<br /> ; � secured by this D�ortga$e. Failure by Borrower to comply may, at option of Lender, co�stitute a defai�t "
<br /> , -,� ' under ' tL�e terms of this I�'lortgage.
<br /> > ; t AII 3nsurance policies a.i�d renecs�als therea,f s3iai ! be in fortu �oceptable to I.�nder nnd shall anclnde s standard
<br />,� , ? mort�a�+e clause in favor of and in form accepiakrle to Lender. I.ender stial) have the rigl�t to t�o3a the poiicies and ;
<br />�� ';; reuewaLs. tPaereof, and liorroµer shall prornptiv fvrnish to Lender �11 renewal notices and sll receipts of paickpre-
<br />�' .; ' 1Tllll1]]&:. � �I7 f)70��evC71t,. �n1 � �Ogc� J�. QZIOS'VEr cji�yil a_yG � kin�J:13*�i .iIOtSCC 10 f��1P. SL7Sli1'Sii1C=C . CRTCIPT' .R11C�� �.BII(.�CT. �ST�G��:L2:!'{9S ' .. . .
<br /> � may ina3ze prooi of loss if noG m�,de promptiv Uy Borrow�er - ' ± `: �'�
<br /> � fi Unl+ess Lender and Borro�ver Qther�aise a�ree in �c-x•iting, ins�r�nce }iroeeeds sl�all 5e appliec3 to rea4oratian o� � "
<br /> „j repair of the Property damsged; }�roa�ideci sLcli restoraiion or rapair i� economic�lly ie�sible a�d 'tt�e seeurity o.�
<br /> ` , this liortgage, is not ihere6y impr�ired: If suc}� restoration or re�.uiris noi economicsslly feasible or if tlie security
<br /> 7�.', � a, this iSsartgage aau2d be i=npai.^ed, ihrittaur�cncc �,roceeds st�ail be app;;ed �u t3ie �unis secured liy tl�is liorigage ,
<br /> ; ; with the exeess; if sny, puid to Borrok•er. If t}ie 1'ropecty is abandoneii !�}- I3orro�sver or ii Boero��-er faiis io �espona
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<br /> °' { to Lend�s cvithiq 3Q days af#er notice b�� Lender io Borrower tl�a.i'thc ii�surance carrier offers to settle 'za claim for
<br /> 1 insurance benefits, Leni�er is authorized to collect :and apply ihc insurance praceeds at Lender's option either .to
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<br /> resGoration or repair of the 3'roperty or to ihe .ucns secured b} t�iis \Iortgnge: ; '
<br /> � Unless Lender and Borrower atiienvise agree in ��ritin�, sisy such applicAt,ion of proceeds to principal shall
<br /> not ex£end or postpone the ctue date oi the monihl,y insonllments referred io in p��.ragraphs 1 and 2 17ereof or changa
<br /> '� ;� ths nttio�n� of such installments.
<br /> ^ If usider pnragraph 28 �ereoi c3ie Propex�tv is acquired by i.render, a11 rigliG , 'title and interest of Borrower in '
<br /> �;1 and to any insuranee polieies and in and t,o ih� proceeds thereoi (to ttxe esteat of ihe su2ns eecu3ed by this Nlort-
<br /> ;° '� gage im�nediately �srior to sueh sate or cicquisition) re,�i,ilting from damage to #he Propert,y prior to the sale or
<br /> �) acquisition shall pa.ss to Leader. ;
<br /> 6. Pzeservation �d Nlmnten�ce of Property; Leaseholds; Condominiums. Borrower sha,ll keep E,he Prop-
<br /> � , � erty in' g�od repair and shall not permit or cozaimit �vaste , impai�ment , or deterioratioii oi the P°roperiy und shsli
<br /> :� � ` comply vcit3� the provisions oi any lease, if this �iortgage is on a leasehat<l. If ti� is Morcgage is on a coudominium
<br /> unit, Borrower shall perforrn a11 of Borrower s ob]igations uncler tiie declaraiion of condominiuul or master, deed �
<br /> � ihe by,lavrs and re�ulations of the condoininfllun ��roject and con�tituent documents.
<br /> i ; 9. Protection oi Lender's Security. Ii Borrower faiis to perPorm the covenants and agreemeuts contsined in
<br /> :, � a this \Qorc.gage, or ii any action or proceeding is comcnenced �vhac}z uaaterially affec 'ts T.ender's interest in the PTop-
<br /> : , � erty, ineiu�ing; bui noc limated to, eminent domain , insolvency ; code ersforcement, or ai•rangecnents or proceed-
<br /> d ings invo3ving a bankrupt or decedent, then Lender n[ I.ender's option, upon nozice to I3orro�ver, may make such
<br /> r; . � appeara�ces, disburse .uclx sums and take s�c"ti action us is necessary to prot,ees, Lender's interest, including; but
<br /> y not limii�ed ta, c3iebursement of reasonable att,or��ev's fees and �enLr,y upon tti� Froperty to �uske repairs. Any
<br /> ;�� "� amounts itisbursed by Lender pursusnt to tliis �nragrapli 7, with interest thereon, shall �reoome acdditional indebt-
<br /> , � ednesa ,of Borrower secured i�y thfls =llartgage. IJnless Borro�ti�er and Lender agree tq other terms oE payment, such
<br /> . amounts sh�lI be psyable upoc� notice fram Lender to Borrower rpequesting payrrsent 'thereof, snd shsli bear inter-
<br /> ' > :; est from #he ciate oi disbursement at i��e rate s�ated in ihe Note clnless payment of interest at sizcl� rate would be
<br /> contra�y: to applicable ]aw, in �rhich event• suc4 nmounts shall z�eai• inierest aL che higliest rat,e perinissible by
<br /> „ '� applicable �aw. ,.'^,Totliing coi: zained ia this paragrapF� 7 shall 7•eq $aire Lender to incur any� expense or do any �ci
<br /> = 3 hereunde�. .
<br /> 8.' Iuspection. Lender may� make or cau�c; fo l�c tnadc t•ea��nable. eniries �pon snci inspections oi ihe Prop-
<br /> " erty, prq�.*ic�ed 'that Lendez �ha�l gi1-e Borro�•er noticc ��i•im• i' r� �snz• sur43 ins��ection ���ecifring reasonable cause
<br /> t�eref�r z�lateii t+a I.etu3er's i�terest iai i}ie Pro}feiiy.
<br /> ' 9. CoaadeaqaaEicn. Th,e proceeds of anp arvarc? or ctaim for daniages, �ireci or consequentaal , in connection
<br /> t� ,i � with any condemnatiou;or a�her taking of the 1'roperty , or parc # li�reof, or for -cunve�ra,nce in laeu of candemna-
<br /> 3 tion, are hereby assigned anc�. shald be paid Co Leu�er. .
<br /> � � In t�e avent of a total t� king ,of t1:e Property, tl:c >>rocced� sl�a11 lie a;�plic�c3 tu ihe sums secured by ihis A1ort-
<br /> .,' a gage, avi#� t.1ie eucess, if eay_ paid to BorroNer. 1� tl�e �veaii, of a �iartiql iaking of t}ie Prop�r�� , unless $orrower '"�.`� ` ,�-°� '
<br /> snd �.en�er ot�eacvise a ree �n wr9iin tl�ere aiaall t>e a rlieri t� che suins secured bN }hic_ 11oi�t 7"" '` ""2r�
<br /> B �, 3�7 �,a�e sucIi propor- �1ik �
<br /> + Ginn pf t�h.E pmceeds as is ec}ual t�o ttist proportion �vhich clxe xtno�nt of the sums sec,u�ed 6y 1u;� 1Sortgz�e ixnme- }
<br /> , � diat.ely prioa to ttie +3ate o# taliing bears to tlie �air �uari:ei �•alue of �lie 1'ro�erttiF i�nmedasteiy }�rior io the date o# ���
<br /> : t,ak�n6� ts�"s#1i th,e balanee of ttse pracees3s }�sid to Borrowef�, „���`�
<br /> � ; I£ tha� �tqpezt� is aband�ned Ei}* Borron•ea• or if after notice b�� Lender to Bo?rro�aQr ihat the c:ondecunor offers
<br /> i� zueike.r�u �awttru sar �etc]e s ciaicu sor tiaausg�s; Iiosmv��er iaus c�o respond to i�itder within 30 -dnys at the date
<br /> ; ; vi astch ii;..+t$r:e,. l.eu<1ct ie a�e.'vt�rissd w ���iler,t mn�a a�pi_y� a.iie prc�c-��s �t i ,ender's oµt�oxs eit,iier �v restoration or
<br /> ; repair of the I'swperty nrto t�e �u�ns secui�ed by tlris 3lorigage: >fi
<br /> Unl� �,erader aud Borro�er oC�ernise agz-�e in writing, any such applicati�zi of praceedc i:o principai shsiI
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