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<br /> � � 1f ¢nder ��Aragra�s}� t8 Pie°reof tii<� F'ru�ert }• ii �l<i ur tr,c F.'�.opert�i• I�T �tl �ercv�x,:• ucqeiir.•d b4�� I .crad� r. I.r£�eier �
<br /> ,>hul! aPPaY , no tater Uian immediuualy ��ai�zr ta tlGc• salc ��i � iu� Propk�rcw� �ar it � ��cq4: i.,�sion i,y tn•r„ 3er . :� 7}>' l� und�
<br /> t�eld by Lender at Che tirue ut �ppGc+ntion as u c:rc�iet �ngain>t cLe_, suula .rcurrt^.ct hy- � i,:� 11or� �,sx;;a �
<br /> 3. Applications o! Pay�aeails. IInle�s aE,{�licah-Ir 3ar1 prii�.-ictes otYzerwia�, ;.Il }7ay-mE>�ris r�x•r=i �.�eci M�y I.ender
<br /> � under' the Note an<i gara�raplzs !� find 2 h�ereo( shtail f�c npydied ��y Larnder tirsk ir� puya7ent c>I :�n�uunts Er�yable to �
<br /> Lender by Borrower under ���ragru�sB 2 f�ereof, chen to intcrest ��aiy:st�ie on ttm \�t.c :s.n�f ora Future Advs�nces, if
<br /> any, ax�t� then to the principal of: ttse Not.e �nd to the ��rinei��aF of 1•'ucurc Aclv;uices , if nny.
<br /> � 4, Chasg4s; Lie.ns. Bnrrolver sii:�lt ganv ait taxes, assessmerit� nnd othrr r.hnrges, fines and impositions attrib-
<br /> � ut�ble ; to the Praperty �vhich may attxi� .a priorit+✓ over this -hiortgage, anci �ruun�i reiits, if any, at Lender's
<br /> � � optioa' in the 'mar�er proiideci ttnder irar�gra��3i 2 !aereof or I�y Borro�veT tr�alcing paynEaent, cvhen due, directly to
<br /> � � the payee thereo€_ Borrawcr Si�it11 i�rom}��Gly furnish to I.encicr all notices af �iriounts clue under t,�is paragt+�nh „
<br /> � � ' and ia the event Borrower sha2l ��o,ke payment clirecGiy, Borra�ver shatl promptly i�r�isfi ta Lender aeceipts evi-
<br /> ` i � �enoing such payrnexsts.,Borrosxer shAll I>ron�paly d "sscttarge un� lien which iius priar"xt3�, aver Chis i4lortgsge ; pro-
<br /> videsi, t�hst33ormwor shn1F not be requirec3 to discl�ttr�e anyy suc�a l'sen so lon� i�.s E3orrnwer sliail agre•e in writing. ta
<br /> , ; •; the paytnent af ttte obligaz,ion secured by sueh iiem in n xuunner :aeceptablc za� Lender, or stxall in goaci faith contest
<br /> r , .} hr such I's�en by, or de#snd enfareesnent of suei� lien in; legal ��roceediizgs iv7iSeF. r�}reraie t� �re��ent the �n�orcement of
<br /> � V j ^+ the lien ar forfoiture ot the Property or sr�y part tt3ereof,
<br /> w � � 5, FIazard Ixasuraace. $orrower �ha�ll keep tite itta�iravemea�Cs now exi_=t�ng or hereafter erectec3 on the Prap-
<br /> ,' erty insured against ioss by fire, hazards i�c3uded �vithin the terrn "e:ct,endec3 coverage", and such ottier hazards as
<br /> � Lender may xequire anc3 in suc� amaunts �n�l for si�c§i periods a3 Lender �nas� require ; provided , Ghmt Lender shsll
<br /> � not require that the a�nount o£ such coversge exceed �ihat amauni o.i coverage raquireri 4o nay the s-�s�ns seeureri '�y
<br /> , „i this M+nrkgnge. ,
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<br /> � The ins¢ranee carrier providing the �nsurance s�a31 i>e chosen Gy Borron er subjeet to appraval by Lettc�er :
<br /> psovidedr �l�sat sueh approval shaFl not be :anrea.sonabiy withheld _ Al] premiurns on insursnce polir,ies sbat2 be gaid
<br /> K � � st Lender's option in tlie mannQr provide� under psragraplt 3 liereot ar !iy Borrower inaking payment, �;�hen due,
<br /> : � directlp to the insuranee carrier_
<br /> � •� ` In the event any palicy is not rer�ewed on ai before t�n days o# iEs expiration, the Lender, to pratect �
<br /> ; i#s interest, may procure insurance on the-improvements, pay the prernium.s anci such sum sLiall becaFne
<br /> imme�3iately due and payable with interest at the rate set forth in said note until paid and shall ' be "
<br /> � � secured by this 1`+�Iortgage. Failure by Borrower to comply may, at option of Lender, constituie a default , � -'
<br /> , under the terms of this Morigage. r
<br /> � AI] insurance policies and renewals tl2ereof shalI be in forn� �cceptable ta I,ender :�zad shall incle�de a stanttard
<br /> 3 � n�ortga.ga cleuse in favor of anc3 in [pra� accet�table to I.ender. Lender sha11 13ave the right to holrl t13e policies and
<br /> ? � � ranewsla thereof, and Borro�cer shnil -pror_�ptly 'furnisfi to Lender a11 renew�I notices and all xeceipts of psid .pre-
<br /> � € miur�s� In tlie event o{ loss, $c�rrower shall gi��e pra:npt notice to the insurance carrier and Lender, and I,ender , ',
<br /> � :��y y,a's-o Yrcof v= I�sS ;: ac� �adc pra:r��ly i.;y, B .ro�ser. '
<br /> Uz�less Lender and Borrower other�vise agrze in svriting, in��aiance proceec3s shal2 be apl�Iied to restoration or `
<br /> � repair af the. Piopercy damaged; provide� such restorscion or ren�ir is er,onomu:�lly feasihle and t3ie se�uitg of ;
<br /> �- '� ' Lhis �T�origage is �ot tliereby impaired. If such restor�+lion or re�air is no[ 'economicaity- feasible or �f Lhe securiiy ;: `
<br /> oi ihis 1Iortgage svould be impaiced, ti�e irasurance proceeds si3r�li Le app3ied t-0 the sums secuc�ed Uy zhis hSortgage, �. ' '
<br /> � cvith the excess; if any; psid Eo Fsorrower. if ttie Yro}�eriv is abandoned by Borrower or i� Borrow�er is;ils to respond
<br /> � � to Lender with4n Sfl dAys aiter not�ce by F.ender to Borroiver Lhai ihe insuranca carrier offers to settle a clsim for �
<br /> '� inaurance bene&ts, Lender is authorized , ta collect 'azd apply the insur3nce -proceeds a.� Lender's option either :to
<br /> . � resWration or repa"sr of t,he Pao�erty or to the sums =ecured b3- t3�is \IortgAge. ,
<br /> p Unless Lender and }3orro�u er ot�ercvise agree in writing, anysuc}i application of proceeds to principal shsll
<br /> i -i not extend or postpone the due date of the monthly insiallments z-eferred to irs I>aragrantas 1 nnd 2 hereof or chRnge
<br /> , $ Ghe smaount of sueh installments. '
<br /> , ; ; If under paragra�h 1$ hereof the �'roperty is acquii•cu by Lender, all riglft, title v�d interest ai ;Borro�ver:=in
<br /> � �3 and to an3 insurance poIicies t�nd in and tv the �roceeds tl7ereof Ito ihe exteni of the suiiis secured by this blort-
<br /> � gsge unin�diately prior to suche sale or arquisit.ionl resultin� froui damage io the Yresperty prior io the sale or
<br /> `` acquisitian shuil pass #o,Lender_
<br /> 6. ` Prase:vation �dMmntencmca at Broperty; LeaseSolds; Condominiums, F3orrawcr shall keep the Prap-
<br /> ;I erty in good repair and shall noi permit or commif: n>aste, impaia-ment; or deierioratiora of ths Property and shs11
<br /> ` `' ` comply witli ilie proti-isions of any lease, i€ this 1lorigage is on a leasehold. Ii this 14ortgage is on a condominium
<br /> , ` � unit, Borrower shatl, perionm r�ll of Borrower's obligaiions �mder the declara�ion oi condominium or �eneter deed ,.
<br /> x . 1 the by-iaws and regulatious oi �lie condominiun� proj ect anci constituent docu�nenis.
<br /> � 7. Protection of I.eader's Security. Ei $orrower fails to perform the covenants and agree���ents eontmined an
<br /> � tnis \iortgage, or if any actiun or ;noceedi�g is commenced whic3a muterially af£eccs Lender's inieresc: in the Prop-
<br /> j erty, including, Lui not iimited to; eminent don�:�in , in�ott-enc��, 'code ecifvrceint:ixt, or arrangemenis or proceeci-
<br /> , . y ings involving s bsnkrapt or deeedeni, then Lendes ab Lender's option , upoii notice ta Borro�er; may make such
<br /> -; � appearauees, disburse : suclt surns a�id take such act,ion a� i� vecesssry io protect Lende�'s int.erest, including;: but
<br /> # not timited t�o; di�bursement of reasanable stt�rney 's fee= and eniry� upon ihe Yroperiy- to make repairs. Any
<br /> amounts disl�ursed by Lender p�rsuant to �l�as �ara�ra�rh i; witi� inieresi t}iereon; shall 3�ecome additional indebt-
<br /> ' - ; edness ot Borrower secured tay this �Iortga.ga. Unless �orrorver aa�d ].,ender agree to other terms ot payment, such
<br /> amouafi.a �hald bepaysble upon anotice frairs Lende�• 4o Borrawer requesting pgyrnent theseoi, �nd shs�.11 hear inter-
<br /> �- est frotn t2�e date o£ disbarsemez�t at ihe rste stnted in the �Vote unless payuieni oi interest at. such rate would be
<br /> � caatrsr3r to apglicable law; in �+hich even# such amounts shall l��ear inieresi, at t:he highest rate permissible bti•
<br /> � applicsble facc: �Tothing cant:�ir�ed in ttais psragra�al� 7 shnil reqaiire Lender to incur any e.zpense car do any act
<br /> r hereuncier_
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<br /> � &_ Inspectioa. LenE3er ina3� xr�ake or -cassee zo i�� me�ic� rea�onabLe entries upon sn�i inspi:ct;ions oi 6he Prop -
<br /> erty, prc7vided that; L�encier �t�a� l give $ar-�o�rr notic-t� }nior to �an�• su<•i � in�pectiou �}?ecitpin� reasonab3e cau4e
<br /> tY:erefar re:aie� to Lcr.sier's interest in_ t}te Praper.y�.
<br /> ' 9. Gaad,eau►ation. The proeeeds of an� u�vard or clsim ior cia�rxages, c"sirect or r.onsequential , �.n eonneetion
<br /> ` with an�z cc�nrlem�ion or ot}aer takin� oi the Prapen�� , or part cl�ereaf; or ="or can�•eys nce in lieu oi eondernQa-
<br /> tion, are hereP��� ac�igned �nd .2��11 t�e ;�aid t:o Lender.
<br /> " Itz �he e�•ent of a iotal takicsg o( r }�F y�pert�, ihe � iroceed� sl_u1f he cipplze<i to tLc: �usn.= secured b`� t.his :"vlort- '
<br /> � avzth tlie :excess; af an�-
<br /> gage, , }>uad to Bmrr,cr��•er, in tLe ecent oi a partial takinK oi the ProperLy , unl+ess Boraower """�� " � ' � �,
<br /> � and I.e[adet os.heru-i.,e agree ig wriimg, t.fae=c �hr�ll be ap��lied to z.he suins secucx;d by thas '_llosigage suclt propor- ' ,� ' ' �'
<br /> ` tion of tl�e prtueeds as is -equal ca tl�at �>ru�ortioaa �vhicl� tlie nrnuuni af the suu�.s secureci bx• inis 1lartgage imme- "� " � -
<br /> i diatel3+ prior to tli� cisYe of takir�g k�ears to the fair nars.rke� c�alue nG ttie Prope:aYv ipninecii.aielv 33rior taj tlie da#e oi ;�` �'`
<br /> i� taldn8, s+ai#3� t�e ba�ancke ot ttre �>3oceeds pai+ci to F3orrowcr_ "*" ,
<br /> � ' ' d£ �se Fza�pert3T is abanc�onesi by £3ortc�we� or ii aYter notice 1a}� Lender to Barron�er chat ti�e con�eusnor offers N�\� ' •
<br /> , �c nsa�:e Araaav�rd ,r,r �;tt;e u .:Iairv fc�i � ta�i��,a. . iuxauw. r iai.� : w � ea{,un� iu i.emcier wsc�iin 3U tiavs �i c.ne daa:e
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<br /> '.,. .: � Q+ Sll4�::'t- L1w1` CE.'e:.�.CIlti"�..CP .3S . ali:.}3131`.SG(j idJ :L'.ui:-�i`�� �il�: il}]�Jij �}if� .},�la,.a�i;C�e .tai� I.cituel' a u�ai:JVEI C341t�Y.[ lU 7'G�GUfti.L1011 UI' .'
<br /> repair of the Prapeaiy flr #,p the saiix�s secured by taiis >i ort.gage.
<br /> Uniiess I,ender and &orrocre�r c�tl�enz�is�e agree in wriiing, any such application of proeeeas co ;�rincipsl �1is11
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