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<br /> � � � If under (�a�a�rmpl^r Iti h�reof th� F'roq�ercy is sul�! A:�r rhir Pro� �art �- is utEyer�� i::c .�c� �uirud by I .�•rzGie-r, Lander �
<br /> shall s►pP�Y , n� lut�er clu�n imrncK�iat�ly I+riur ta t i�� �wlc• ut clie t'ro{�� rry �rr ir . „�r� } iii,rtie,n tn- I .c�u!<<r , :� si}' k�'� � n<!h
<br /> iiel�i by La�t$er Gt the tSme � �f rrpp�l[�sztion r� ss cr�eGt u�,:�inxc flru nuu�. �:ecurr�i b}• r hi; � f �,rcq:i�r. . �
<br /> 3. Appiscaliots of P+aym�ats. L' nleFa u�:��licnhle In�c � aravid�c. r�t4�erwi:+i•, :�II p:�ymt•nts receiveGi tsy I,�n�ler
<br /> under the Note ntul r�ctragrupl� 1 upr# 2 lrereof alaa�ll bix a���fliecl b}� Lrurier fint in ��uymenc c>f :ttnmtntc� �xayabfe to
<br /> Lender k�y 33orrower under puragragls 2 hercot , t.iien tv interrest � rayab2e ori ti�c tiatc and on T�.iturr. Advunces, if
<br /> nny, asx3 thesi tn the priricipal of the �Vptc anc3 to the prinri��;�l of Futtit�•e Aclva�ces, it' �ny.
<br /> � 4. � Chargos; Lioas. Borrowerslealt�� puy ail taxea, usar>ssmentas s�nci other chnr�es, fines und impositions uttrib- �
<br /> utable to the Property which may attain a priority c�ver tLis �I�rt�a.�e, and �roumi rents, if any, at Lender's
<br /> �, � C"12 optiomin the manner prc>vided under ��aragraph 2 hcreof or by I3orro��-er mukin� �ayment, when due, directiy to
<br /> C�2 the .payee thereof. Borrowei• aha11 promptly furcaisli to Lendcr all notices of an�ounts due nnder t8is paragraph,
<br /> O . : ztnd in;#he even6Sorrower shatl make paynaent c3irectly, Barrower shali I�ron3ptly furnish i.o 1.ender receipts evi-
<br /> C� dencing such payments. $ocrower shall �rocnp6ly^^ disalznrge . any lien which has priority over this �Iortgage , pro-
<br /> Q vided; thut ITorrower shs31 not be req�ired to ciisc3iarge any sucli lien sa long as Borrower shat3 ngree in wiiting ta
<br /> � : � ti�e pgymeat a�f the obligation secured �y sueh lieE� in a Yn:inner acceF�tsbYe to Lender; or shall izr good faith contest
<br /> ' ' � ' suchlien bq, ar, defend enforcement of suclr licx� in; legal proceeclings wtxiet� o�erat,e ' to prcvent thc enforcement of
<br /> � ("� the lien or forfeiture of tEae Property ar any part thcreof. ' '
<br /> ` � 5. >Hazard `Inauzanc�. Borrawer shall keep thc iinprovements no�c� existinq pr kiereafter erected on the Prop-
<br /> �'' ert in5ured a einet loeg b fire hazards ineluded within the tex•m "estendeii cover "
<br /> y : k Y > age , ttind suclx other hai�xrds as
<br /> ; ". Lender,may require-and in such amourits nnd far such j>eriods as Lender may require ; pro�•ided; that Lender shall ' ` ,: ,
<br /> = not require tizut-tl�e amount of such covernge exceed tdiai �inqunt nt" r,overagc requireii to pay the sums secuied'by
<br /> this Mortgage, `,
<br /> `` The insuasnce cnrrier r�roviding i��e insurance shnll be chosem by Borro�r�er subject to ar�provaC by Lender ;
<br /> provided, thac such appraval shall not be unreasonably wiihheld. All premiums on insurttnce policies shali be paid
<br /> ' ' at Lencler's option in ttie znanner provided under 3�uragrapli 2 1}ei•eof or by 13orrocver mnking payment, when due,
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<br /> � - - directly to the insurance csxrrier:
<br /> In the event any policy is not ienewed on or before ten days of ita expiration, the Lender, to protect
<br /> , . , its interest, rnay procure insurance on the improvements, pay the premiums and such sum shaIi become -
<br /> immetliately due and payable with interest at the rate set forth in said note until ;�uid 'and shall ' be
<br /> ` � � � . '` , . '�: .
<br /> ' seeured by ;thie Mortgage. Failure by Banower to comnlv may, at option o£ Lender, c�nstitute' a defaal� ;
<br /> +. � under ' the terms of this ,Mortgage. f: ; '
<br /> `' �. All insurance policies and renewals,thereof slzall be in fornr .ticcepG� ble to I.ender and shalF inciude a �tsndard
<br /> ' " � xnortgage clause in favor of and in forrn scceptrabie to Lender. Lender shalI have the ri�ht to liold the policics and
<br /> � s renewals thereoi, and Borrower shn11 pi�omptly firrnisli to Lender ali renewaf iYoticn�s aii�l all receipts`of paid`pre-
<br /> � miums. Tn the event of loss, Borrower shall gi�•e pranpt notice to the insurance carrier and Lender, and Lender
<br /> "r rnaq make proof of loss if not made p�ocnptly by 73orrower.
<br /> A-'� Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall k�e applied to restorution .or �
<br /> �:"- q repair of the ='roperty darnaged, provided such resior�,tion or rejir�ir is economically fessible sind the aecurity of
<br /> ` ; this ibiortgage is not thereby< impaired_ If such restoriition or repair is not eeonomically fcasibYe or if the security
<br /> � w ` of this :NIortgage would be impssired, the insurance proceeds stiull bc apptied to the sums secured by this 1Vtortgage, � �
<br /> with the excess, if any, paid to Borrorver. If the Yroperty is abandoned hy- $m�i•o�ver or if Borrocver fails to respond
<br /> �o Lender wit�in 30 duys after notice by l,ender to Borrower that.the insurance carrier offers`to settle a, vlwim ior
<br /> inaurance oenefii.s, Lender is uuthorized to colIect and apply tho- insurmnae proceeds at Lendex's option either to
<br /> � restoration or repair of the Property or to the surus secured by this llortgage;
<br /> � Unless Lender and Borro�ver othesrvisc a�ree in writing, an,v such applicfltion of proceeds to princiQal ehall
<br /> ' not extend or postpone the due date of the monthlr,- installinents referred to in paragraphs l and 2 hereof or chsnge
<br /> � ' the amount of such installrnents.' - . : ' '
<br /> , � If under parttgraph ,l8 hereof the Property is acquired by Lender, sif i�ight, title n,nd interest of Borrower `in
<br /> � and to any insurance poiicies itnu in and to the proceeds tl�ereof (to the extent uf the sume secvred by thas 14orL-
<br /> ; gage immediately prior io such sale or acquisition) result.ing fri�m damage (.o tlxe Property priorito the sa]e or
<br /> i acquisition shall pass to Lender. : :
<br /> �� � 6. Presesvation cmd Nlmn4enance of Propezty: Leaseho�ds; Condominiums. Borrower st�ull keep the Prop-
<br /> � ' .s erty in good repair and shall not permiti or co[nmit wnste, ixnpairment, or deterioratior� of the 1'roperty and shall
<br /> �; .� comply with the �rovisions of any lease, if this \iortgage is pn a leaseliold. If ttris liortgage is on u condominium
<br /> � � unit, Borrower shull perform all of Borrower's o6ligations under ttie declaration of condominium or master deed,
<br /> bhe by-laws and regulations of; 'the condominium �> roject at�d cansCituent documents_
<br /> � , € 7. 'Protection of Lendei s Security� If Borrocver fails to perform the covenants antl agreernents eontained in
<br /> t �r j this ylortgage, or iC uny action- or proceeding is cor�menced whicli uiaterially uffeets I�encler's interest 'in the Prop-
<br /> , � erty, includin�, but notlirnited to, eminent doinaiu , insolverxcy, code enforcei7ient, or arrangements oz proceed- �
<br /> � ings invoIving a bnnkrupi or decedent; zl�en Lender at f.ender's opiion; upon notice �'o Borrower, may make such
<br /> � j appearances, r2ist�urse sucin suYns and take sucli aetioii us ie �iecessary io protect Lender's interest, includ 'ang, but
<br /> ; not limited to, diabursement of reasonaUle atton-�ey's fees ai�d entiy u�ot� the F'r��>ert,y to rnake repaixs. Any �
<br /> $ amounts disbu3sed hy Lender parsuant to this paragraph 7 , �vitli interest tliereor� , sliall 6ecome udditional indebt-
<br /> ednees of Borrorver secured by this Nlortguge. Unless Borrotiver and Lender agree to vther ternis of payment; such �
<br /> ; 'amounf,s shall be payable upon noLice from Lender to Borrower requesting pnyment thereof, and shall bcs.r inter-
<br /> ' ` � ` esL from the drite of disbursement at the i•ate stuted in tlie V ote uniess payment of interest at such rate would be
<br /> � contrary. to applicable law, in cyk:ich e�ent such amounts shall bear interest at the highest rate permiasible by
<br /> �' q ' applicabfe ln .v_ Nothing ,containecl in t �liS �)3T8gTH-j1I7 7 shn11 requirc I,ender to ipcur uny expense or do any aet
<br /> � c � tcereunder.
<br />� � 8. Iaspect;on. Lender may �noke or cuiiee to be made reasonable entries, upon and inspections of the Prop-
<br /> i ertY> prc�vided tixat Lepder shull give Borron�er not �cc iu�ior io =u�}> sui.} a inspection apecifvin� reasonabte cause
<br /> therefor relatect to Lender's interest in tlie Yroperty.
<br />� ; 9. Cottdemuatioa The procecda of uny award or claim ior ciamuges, direct or consequential, in connection
<br /> �; ' ; with any:eond�innation or ather taking of' the Pro�crty , or {iart thereof , or t'or cpnc-epsnce in �ieu of condexnna-
<br /> g rr ? tinn, are;hereby assigzied arsd shsll k�e paid to Lencler. �
<br /> , Iu the ever�t of a totai iaking oi the 1'ropercv, �he proceeds sl�all be applied to ihe sums sec�red by Lhis Mort- M �
<br /> ' ' � gage, with the. excess, if any, p¢id f,o Ba�rr�a�er. Iii ilac evenf ai a partial �aking ol t�c Property, utrless Borrower � ��
<br /> � .,
<br /> �i � aud �.en,s3er et�erwise agree in lvrit,ing, e.here <1�s11 �e ap��t'tc�i iu t,he. su�ns eecured ta� t.his A'lortgage such �ropor- + � ,
<br /> �' �$ � tion of tlle proe.eeds as is equal to that proportion vvhicli tlie an�ount of tlie sums secured by this Mortgage imme- �' Y
<br /> , diately prior �o t�e date of taking bears ta tlie fair .znnrket vslue of ilie Property ixnx�ediatetti� prior to the date of ^�,� g ,
<br /> ,U � ' ta3cing, w'ith +tl3� I�ttlance o# �he proceeds �sad tn Borzbwer. �N�
<br /> If 6he. ProperEy is aba�doned by $usrower or ir after notiee !�y Lender ta Bvrro�s*er t,h�t the mn�efnnca� c�ffere �=" ` ``
<br /> '� t.a makC �n a^fvrsrd ox seEt3e n ,c3aim for da:�iages, i3 orro�i�er ta'sls io resporicl tu Lene�e� withiu 3a davs ut t}ae date ` "��
<br /> , , , ;.
<br />� ' c of suc4 r�ozice, �.ender is aut}xoriaed ta +e:ol�eeL n[zci ap��lp the }aroneeds aL S,ender's option either to resGoration or
<br /> re�ait� of the Px+[»perty or to the sums seaasred by t3ji� \lortgage.
<br /> Unlsss L�e�+cies� and Borrower othercvise agree i� writ•ing, any such appIication oi pibceeds to prineipal sl�all
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