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<br /> � If under ��arAgra�h 1 $ tiereof tha Yropeet,y �a �li� ur tt�e Prca��ertv iv oLhet�-wisr acc� uir�d kiv I .e�ider, l.ender �
<br /> � � sha�l appky, no Luter Lhan immediately �3rior co thir e�ulc c�i thc Prp�'�rrt,y c�r it.� :acqul�icion t �y L��uder . ciug !^'unris �
<br /> lielci �y I.<:ncier at the timr, af �ppliration as u crectic n�;ainsr. the �tuns �rciire�f i,v thi� 1�Iui•t�;a;;e.
<br /> 3. AppHeation of Pay:uenia. Unless apPlicnbEc ]a�r {� roeiilr.s nthun�ri�c, 4ill puym�.nts recei�•ed by l.ender
<br /> under .tl�e Note ri,iid ��uragrapl�s l and 2 Y-zcreof shall irc a����fied �>y 1.enc14r firsc in pnyinent cai uruounts payable ta
<br /> Lender by Borrower under flaragraph 2 liereo[, then ta intcrest � l�xynblc on tl�e Note an�l aei I�ukure Acivances, if
<br /> any , and then to the i>rincip�sl ot the "_Vote nn<I ta tl� e �vrincipnl ot r uture ;1ct��arzcea, ii any.
<br /> `' � 4. Charges� Liens. BoFrower al�alI pav all taxe5, aesessment� an� other ch:3.rges, fines snd im}�osit"xvns attrib -
<br /> r ° � C17 atat�,le fo the PropetGy which may att.�an a prioritv ovex fi3 �is J€nrt�a�c; attd �rauirc3 rents, if atiy, ri.i Lender's
<br /> ,`� O�� opti«on in the manner irrovided under I�z�rngraph 2 heveof or by 7;c�rrawer n�akin� Fr,syment, when due, direcGly to
<br /> C�? the payee thereo[. Borrower shal! prornptly furnislE to I,enc3er aifi notices of nnc�ounts eiue aander tttis paragrAph ,
<br /> ;... y � �nd in :the event 8otrower �htill cnake �aytnent direactly, �3orrcncer slinil X�r�n�pt3y -furniah io Lenc�er receipts evi-
<br /> Y � , G .denoing suah p&yments. ;Borrower '�hal1 g7roml�tly di�clrarge an,y 1 'aen which has $n•iorzty over this J3ortgage ; pro-
<br /> vided,, tihat BorroFver shall not be rec4uired to discliur�;e any such laeta so Inng �s �3orrax�er shall;a�;ree in rrriting to
<br /> � '� � the paymen� af the ol�ligatioz� secured �y suclz lien in r� ananiaer acceF�tnl>!e to,I;ender; or s}ial� in good faath contest
<br /> fi `� � sucla lien by, or cle€end enforcement of sucli lien in� legal nrocee�iirsgs- which operate to �revent the ento<cement 'of
<br /> ,� T''o the 3ien or forfeiture of the Yroperty or any part tiirereof. .
<br /> , 5. Hazard insuc�ee. Iiorrower sYxsll keep t(ie improvements:now existing oc hereafter ereeted on " the Prop-
<br /> ;�.,� _ ert}� insured against loss 5y fxre, ha2ards iocluded rvithin the term "e�tended coverage", and such ntf2ee` �iuzards as
<br /> ,';J Len�der may req..:ire and in such amounts und for sticii periods ns Lender muyrec�uire; provided; thnt Lznder shall
<br /> ; , :'� not require that the aznount of such cove:age exceed thnt a3nouni of co�era�e rec-�uired to pau the sums secured 'by °,
<br /> ;i this 1l�Iortgage. ;
<br /> � "` The izisuramce carrier psoviding tl�e insuratrce shalt �e etiosesi by Barrotiver subject to approv�,t izy Lender;
<br /> � � provided, tiiat such approvai shall not be unreasonably withheld. .311 premiums on insur�.nce policies shall Ue paid
<br /> � at Lender's option in the manner providet3 under I>arngrapl� 2 hereof or b,v T�orro�rer makin�i payment, �vhen due, ; ; `
<br /> x'� � directly to the iusurunce cerrier.
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<br /> '` In the event any ,policy ,is not renewed on or before ten days of its espiration, ttze Lender, to protect
<br /> � ° - its interest, ma�r procuze insurance on: the improvernents; pay-, the premiurns and such sum shall become
<br /> e � 4 im�rsediafi.ety dn�e and payable with interest at the iate set €orth in said note untii paid and shali be
<br /> ,,.� secuxed by this Mortgage. Failnre by Borrower to ` comply may, at option of Lender> constitute a default
<br /> ,;,, � under the terms of this Mortgage.
<br /> All insuranee policies and renewuls chereof shalt be �n fozm acceptuble Eo Lancier .�nd shall .include a standar� ;
<br /> � mor�gage ciause- ir. fuvor o; snd,in iar� acceptn�;e to Lender. I.er�<ier si�at ! l�a3ve tiae riglit to l�al�i the ;�olicies sr.d `, , � , ;
<br />�� � renewals thereof:; and Borrower shall promptly 2urnish to T:etider alt rene�val notices ar.d �l? receipts of paid pre-
<br />�., . „ miu�s: in the e��ent of loss, Borrowc. s�all give prompt naticu to tiiu iusurssnce currier and Lender, .and Lender
<br /> � ' may make proof of loss iF not made promptly bc Borrower.
<br /> ` ,.� Unless Lenc�er nnd $orro�uer othen� ise a�ree in writing; insurance proceeds shall be np�lied to res�oration or � '
<br /> ;. � ' rep�ir ot the ProperGy damaged� piovided such restoration or repair i: ecoriomically feasiL- �e xnd the securiiy_of
<br /> :, :� this bfotigage is not tliereby impaired. Ix` such resEoraitiou or repuir is not economicuIl,r' feasible or if the security , +'r��
<br /> ` � of ttais '14ortgage would be iRipaired, the insurance }>roceeds slinll 1�a appiied 'to ifsc,sums secured by this �lfortgage, .
<br /> u� '„� witl= the excess, if any, paSd to $orrowei•. If the Yroperty is aUandoned 6y Borrower or if Borroa�er faiis to respond
<br /> to S�ender within 3Q days after nocice bg Lender to Borrower th:�i the insurnnce carrier offers to setGle a claim for
<br /> , ; � ;ns�ance benefits, Lender is authorized to collect sz�d apply tl�e insurance ,}zroceeds at Lender's optian either ta
<br /> b restoration orrepair of the Property or to ihe sums secured by tliis �Iortgage. ,
<br /> � Unless Lencier and Borrower other�visa agree in writing, nny such application of proceeds to prineipul shail
<br /> # J � not rae�nu or �iostpone the due data of tke ir,onthlz• iastallinents re.erred ta in pasu�raghs : � . ' _ � ar chan�e
<br /> ....'1G� . � 7inryaF .. ' . .
<br /> � the smount oS su;eh instailments. : ; .
<br /> 4 j , r If under paragr�tph -18 hereof the Yroperty is acquired by Lender, nll , righi, title and interest oi Sorror�-er-in `
<br /> $ ' ¢ :snd to any insurance policies ttnd in and to the prooeeds tiiereof (to the estent csf the sums secured by this 3�Sort-
<br /> - . = gagerimmediately }�rior to , sucli sale or acquisition ) resutting irorn damage io �he Yroperty prior to the sale or
<br /> ` `' � ncquieition shall pass to Lender.
<br /> ' q 6r Presezvmtion cmd Mmnfen�ce o[ Pzoperty; Zeaseholds: Condominiums. Borrawer shall keep the Prop-
<br /> � erty in good repair and sha1F not permit or commit waste, in�pairrnent, or deterioration ot the Yroperty and ahstl
<br /> � rn�a�)y with the yrovisions of �nylease, if this \1or 'tgage is on a leasehold. If tt7is hlortga�e is on a condominium
<br /> i nnit, Pqrrower s�inilperform all of Borrower's obligations under "c he declaration of condominium or master deed ,
<br /> �-, ; the b,y-laws and regulations of tlie condominium project anc3 cons�itueni documents.
<br /> '` z 7,' Fr�Yaction oE 'Leader's Security. If Borrower fails to pexf�rrn the coveriants and agreements contaiaed in
<br /> � a this ��ortgage„os ii tiny ac 'tian or proeeeding i� coinn�enced ivl�ich inateriullg affecGs Lender's interest ia the Prop-
<br /> ' �' erGy, inuluding; but not limited to, eminent douiaSn _ insol�•ency; c�de enforcen;ent, or xrrarigements os proceed-
<br /> � � ings inxoiving a bankrupt or decedent, tnen Lender a6 Lender's option, upon notice to Borrorver, may rnake ' such
<br /> � .^ � < appearances, dis�urse sucli avms and ta�:e sucli actioii as is nece�sar,y� io protect Lender's ii3teresL, iilcluding, but
<br /> not limited Lo,.,r3isbursement of reasonable ailorney's Pees and e�trp upon th� Yroperty tn make repairs. Any
<br /> ' ' amo unfis c3ieUurs�d by Zender pursuant tn tliis paragrn�h 7, �vitl� 93�terest thereota, s]iail becazne additional indehw-
<br /> � :•, � . � . 2C�Re'SS'.:Of �6T:G� .i 2i'. SCCUiCii .�..}', w�.`�.5. '��C.^:gwge: 7Ji:te�..s �Borro�:�er.�s::yt .T.ez{jnr �uprc� tp. pf.finp .f.P?'1T15 Of �AV7I1P.11t� SllC}1 � .
<br /> � k amo�nls shall be payable upon notice from Lender to Borroc�•er requesting x>ayment thereof, nnd shall bear inter-
<br /> `' = est €zorn the date of disbursementa4 tAe rate stated in '1� - 1\ ote unlass j>aymenv of interest z3t such sate would be
<br /> � cont,�ary tc applicaf?le law; in �shioh e �^t :i: �^=ae::ts s?:all �sa• interest aL tlte hig}iesi rate permissible by
<br /> `�� applicabls law: �othing contained in t.liis paragrapla 7 s13a1t require I.ender tc� ineur an,y ex�aense or do any act T
<br /> � ,". .� hereazndea ` '
<br /> s� , 8. Inspectio�. Lender rnay inake or riuse tv ix inade a•easonanlc eniries capon rsnc3 ins;�ections oi' tlae Prop-
<br /> „ ' " erty, Prpvided t?�at Ler.der =hal1 give Bvrron^et• notsce � �:-ior to a=��• �i3c�h insPe�tion �>>ecif�ing rcason�lale cause
<br /> x ; fheraEor relat�[ t,ce L�x�iler's ir�terest iu tl» Yro�xerty.
<br /> ,, , ,� 9. Cond�mzsqtion, Th� �raceeds o� any a�ti•arcl or cisi2n tor dair��ges, dix•est or consecZuential, in eonnection
<br /> A , " . ; with any. aondemnation ar othei� taking c�f the Yrop�rty, or iruri tlaereof, or for com�eyxnce in lieu of condemna-
<br /> , tiatt, are k�ereby 2essignecl and shall be osid to Lecader_ ,
<br /> In tihe event of a totisl taking of Lhe �'roperty, fhe ��rpceeds nl��.1! i>e applied t o the suins secured by ihis ;VSort-
<br /> ` gage, witt� t�he.exoess, if any, ��aid Lo Borrocver. Ii� tlae event of a �arfiai taking ot the Prog�rty, un3ess BorroRcer , � " ��.x .-
<br /> &nd T�enBsr ot,heawise agrae in �r•rit.ing, tt�ere El�all be a�plied to f-Eac suris secured by tliis :^��ortgage such propor- � " "� _ :
<br /> x � _ tion =of the prooeQds as ib -equasi ra ihat gsroportion which tlae aniount a( the suzns securec3 by tliis l3ortgsge imme-
<br /> �°� > disLelp prsor t� t�e tlate oS tsking,:bears �o t•!�e fair r�acarket �•alue �# tlie Yroperi�s iumsediatei�, pripr to t1�e date oI ;2� .
<br /> > _� - Yakia6, with tl�e batanee of t.}ae proceeds }zz�id tca Borresirea�. -�,'��:
<br /> i If the .Pznpesty is abnncl,�ned by $oXxvwer ar if �iter �osicc lsvr Lecacler to I3rsrroaver r,hat the condemnor offers �'��°
<br /> ; Lo asnks f� swax�[I mr sett3e a. claun ivr r�ae�ag�s, Bo�iotiver ixi�a t� i'Cs�nu tU I�uuer wi�t�i� 30 navr� �a tiia uate a .
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<br /> Q = � of t�t�ufi �jui,i,c�, I�eit+lei• is uuc.�vrixx�rd tu caeillecL avcl za���,Iv i}a� Euvuceuia rAL L�:ud�r 'a upnivai eiciiCr Lu xr,,tair�ct.iuL oi
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<br /> repasr of the Pmperty or to ttse suxns see�e�l byr tlais �1ort:�ge. ''
<br /> I7mless Leuder and Bori�wer athes�se agree in writing, any sus;h agplicafa�on of proceeds to principal shall
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