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<br /> � If under ��arrsgFaph t8 heseaf nc� Property i� xolei e�r rhe Yroperty is otiier�c ��e :u�yuired hy I .�an�ler. i .rnder �
<br /> ahall npp2y, no irstertfiutx immediatelv prior to tl�c �.Llr, oi tlic Yro� �erty or ic� acquc�iti�>n bp J .���i�i+>r. nr� y F'4itxd+:
<br /> hele� k�y Lender ut t�G tin�e of ap�liratic�n �a a eredit a�.�uinnt thc surns �ccuree�. hy � iii� ;� I�ortga�e.
<br /> < � � 3. APplieatioa :bE� PaYi►'eeaits: �Unless .�i�pli��stiblc In.w ��rn�ide� otlienvi�e, ali payi7xentn rereiv�.d by I.ender
<br /> under the Note and puragraplrs l and '2 hereof shall he� uppficd I ,y- ;I.end��r firsi in p:rymer_i o( amuuats p.iy�ble to
<br /> I.ender by_Iiorrowe�^ underFsaragrppli 2 liereof, tl�en t� interest ��:�yahle �n tF�e note ancl on �uture Advanees , if
<br /> R any, aud then to th� ��zincipsl nf ,the Note and to the principfll af t'uture .�dvnnr.es , it any.
<br /> � � 4, Cl3arqes; Lierns. Borrower sl�nil I3ay a1) taxes , xssessments and other eharges , fine.� and impositions attrib-
<br /> f atpble to the Prapetrty which may attain tt priority vv�r tt�is VIortgngc, ancl ground rents, if 3ny, at Lender's
<br /> �,1 � : option in the mann�r �eavided uncier parttigraph '2 Lereof or by I3orro�ver inuking payinent, when dur„ directly to
<br /> �$ � khe payee. therepf. Borrower s!-iatl promptiy furnisli tca 7�ent3ec• alt notices of ttrnourrts d�xe under tftis ptsragraph,
<br /> �nd in th�e event Bo�ro�ver sha#.l anake pavrnent ciirectYy, I3orrotiser sl�u}i prornptly furniska to E,ender receipts evi-
<br /> ` ,• ,, �` ` dencings�ch E�syzs�e.nts: I3arrpv�vershatl r�romptl,y t�iacEi�rge any lien tivhich hae priqrity over this �lortgaqe , pro-
<br /> ' 's `� Vided, thattBorro�e� al�alt not iae requireci to discliarge tsny sucir laen so long as Baxrower stiall agree in writing to
<br /> ' .� � tho pay�.�:�nt of tJie ablig�tion saecitreci by such lien in .a manner acceptuble to Y�encler, or skrutl in good faitk conteat
<br /> se
<br /> � '%+ � sueh lien by, or defes�d enforeen�ent of suoh lien in, leg�il �ii�oceeciin�s �vhich o�ernte to prevent the enforcement``of
<br /> � T'`► ' tho liea',ar forfeitiur� of t6e Praperty or a.ny ��art tl�ereof. '
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<br /> � �• 5. Hczz¢rd �nsuz�uace. Barrower shn}i keep tlie iirirrrovements now existing or hereafter erecfed on the Prop-
<br /> ;' ; ert�� insured against lossby fire, haza,rds included �vithin tlie term "extended coverage", and such ottier hnzards ' as
<br /> ' `; Lender' inay require and iii sucf� i�mounts a.nd far such �ie,riods as Lender m:iv require ; provitled, that Lender sha11
<br /> v ` aot require that the amount oF such coverage exceed that nmouni of cove.rage required to �ay the sums secured ' by
<br /> ' } . ., . . ��'l1S �OTtg'd�C. . , . . . � . . . . . . . . .. . � : , '. , '.
<br /> The isisqrance earrier pro�riding Gl�e insurauce shaii be chosen I�y Borrowei� sut�jecti to approval by Lender;
<br /> � � provide�, �l�at suc�� �:pprovr�! sha11 not be iinreusonablY withheld. _3ll premiums oii insurance policies stiall be paid
<br /> ` •a nt Lender's option in the mamier provicied tmder p:�ra�rapl� 2 hereof or lay Borro�ver making payment, when due,
<br /> � direetly to the insur�.nce carr'xer_
<br /> _a
<br /> ; `y ; Im t�e event a.ny policy is not xenewed on or before ten days of its expiration,-the Lender, to protect
<br /> 9 its interest, may procure insurance on the improvernents, pay the premiums and such sum shall becorne
<br /> ? immediately due and payable with interesti at the rate set forth is said note until paid and shall be '
<br /> � secured . tsy this Mortgage_ FaiIure by Bonower ta comply may; at option o€ Lender, conStitute a default � r
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<br /> � under the terms of this Mortgage. ,
<br /> � All`insurance policics' and renewals thereof shall Ue in form acceptaUle to Lender and shn1J incLl�c a st� ndard '
<br /> " mortgage clause in favor of and ,in farm acceptable to Lender. Leiider shall lis.ve Llie riglit to liold tlie }aolicies and
<br /> sy renewuls therepf; and Borrower'shnll promptly furnish to Lender �ll rene�val notices and all receigts of paid pz-e-
<br /> „x miums> Ir: the eyEnG of lo�s, Borrower shsil gi��e ' procnpt notice to thc insurancc carrier and Lender, and Lender J 5 '.
<br /> m:; � may: make proof of ioss ii not inade promptly;Uy Borrower. P ^i
<br /> � � ; Unfess Lendex and Borrower otherwise ugree ia. ��•riting, insw-ance proceeds shall be applied to restoratios or
<br /> s+ , ;; repair of the Proper�y �lamaged; provided such restor�tion or repair is cconomicatly feasible and the security of' -
<br /> ; this i4lortguge is not tl�eceby` impaired. 3f such restor:ition oi• re�aar i� not ecoiiuniicn2ly feasible or if tt�e security
<br /> � of this Ntartgage �vonld ` 6e impaired, the insiirance ��roceedsshall I,c a�iplied to the sums secured 6y tYiis ' 14LorEgage,
<br /> ' ' „ �vith the esccess, if any, pnid to Borrower. If the Yroperty is abancloned 13y Borrower or if' Esorrower "ftx=_ie to xespond ,; ;
<br /> � ' toLender within $0 days after nosice by 7.enderto Borro�ver tliat the insurance carrier afs"ers to settie a ciaim for `
<br /> ineurance :benefits, Lender is authorized to collect and app]y, the insurance proceeds at Lender's ' option either to
<br /> restaration or repair of tt�e Property �r to ihe sums seeured by tliis 14ortgage_ ,
<br /> � " �' ZJnless Lender and Borrow er other��•ise agree in tivriiing; any such applieation of proceeds to principal shatl ^
<br /> , ''� not extend or postpone the due daie of the montl�ly instnl )ments referred to in paragraphs 3 atid 2 hereof or change r '
<br /> ;� tho amount of such installments_
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<br /> �,;� If under para�raph, l8 hereof the Yroperty is acquired by Lender, q�ll rig��6, title nnd interesc oi Borrawer <in '
<br /> • ; and to sinv ins�xrunce .policies 'and: in and to the proceeds thereof- (to the esten� of t.he sums accured bV this D�Iort-
<br /> f a e .irnmediatel raor to suckx sale qr :ac uisitzonj resultin • from ciaina c, to ihe Pro ert rior to the sale : or
<br /> ,,.. • � BB 3' P q b � ' P S' P ,
<br /> " � aequieition shall pass to Lender_ ,
<br /> �� 6. �Psasezvation mid M�nt�enance of Property; Leaseholds; Condominiurns. �� I3orrower shall � keep the Prop- �
<br /> � _:� erty in good re�air aaui shall noi permit or coincnit waSLc-; it�;jiairr��eti6, uc cieierioraiion of ttie Property and shs11
<br /> ; ,� k comply with #he provisions of amy lease, if this ltortgage is on s leaseliold: If t]iis l�Iortgage is on � condominium
<br /> unit, Borrawer shall ;�ertorm a13 nf Borrower's obiigaiio�rs uncler tlze declaratiorr of condo=ninium ar ?naster 3ee�d ,
<br /> � "� the by-laws and reg�lations of tlie condominium project and constituent docun�ents.
<br /> � 7. 'Proieeiion af Zendei s Security. If Borrower faiis to perforrn the covenants and agreements contained in
<br /> � f this viartgage, or if any aei�ion or proceeding is commenced tivhich n�aterially a.ffects Lender's interest in the Prop-
<br /> `z � erty, inclading, but noi limiied to; sminent don5siu, insolvency; code enforcement.; or arrungements or proceed-
<br /> ,, � ingsinvoiSringtt ban}3rupt or- decedent; then Leuder at I.ender's orst•ion, upon notice to Borrorver, may , make such
<br /> � nppearane�s, disburse suclx sums and take such uction as is iiecessary to, protect Lender's interest, including, buG
<br /> not timited to, disbv:xsement of seasonable zttorney's fee, and entry upon Lh� Property^ to make repairs. Any
<br /> " "� < arnounfias �i3sburaed Lv Lender pursuant to this paragraph 7, witlr intere5t thereon ; shall become Additi.onat indebt- '
<br /> - � ednesa ofBorrawersecured by tl�is �Zortgage. Unless B3orroucer anc: Lcnder agree to other tenns of payment; sueh
<br /> '' ' ° � umounts s}3allbs payabie upon z�otice irom Lender to i3orrower requ�sting paymettt thereof, and sliall bear irter-
<br /> + ' k est from tk;e dste of disbursement at the rate stated in ihe \ote unless pnyment of znterest at suah raCe would be
<br /> ; ; , 4 contrary tc� ap}�licab�e 2att-, in svhich evenG such amounts shall bear interest at t.he l�ighest rate pe_missible by
<br /> '; npplicable 1ttw. �Tothiii� contained m tl�is �i�ru�raph 7 shall require ]:ender to incur any expense or do any act
<br /> # hereunder_
<br /> , j 8. Inspection. 3.ender mt�z• inake or cause to he t�ndc reasuixable ei�tries upon and 'x��spections of Lhe Prop-
<br /> - = erty, pro*r=i�c-tl fh&t Lerstler shail gi��e Bor;-o�•rr notice ��rier + o _�*1• st:cf� ins;�ection spaa�f3-ing ressc�nable eause
<br /> ilierzior rei.ated i.o 1.,e�der's intei-esi in tl�e Property .
<br /> ` '`' 9. ,Coztdeausa3iom. The roceecis of an � award or clnim for dama es direct or conse uential ir� connection
<br /> P 3 � > 9 .
<br /> � w,'*; . �vith any c+ondauu�ati,on ai ather taking of tl�e YroJ�erty, or ; �art the.rcoi, or for couvevnace iti lieu of condemns-
<br /> ; '. � tion, are 'hereby� assigned and shali be puid to Lender�. ,
<br /> � � � In the event of a to#al taking of the 1?rs>perty, tlte ��roceeds sl�all be applied to the surn� secured b3• this Mort- rv
<br /> . ,; . . gage;:w�L'ir �,h�' excess, if an,y, ��a3a to Borrocser. In "the event of a partial takiag of the Property , unless Borrower , ""�� '" ` � a,
<br /> r , 'pk anil I.er�dez otliextivise a$ree in xx:riting, ther,e si�alt bc ap�>lied to the suins secured by this �fortgage sucli propor- +; `
<br /> F ��_ Linn o#' the .�xocaeds as is equsi �o zhnL praportion whict� tiie xsiiaun# of the s�ims seeured by this AZorigage imme- z� � u ,
<br /> �s� ; �iatelq pir`vejr ta tlie date of iakirsg 3�egrs to clie fair �i�zirl�et value of LPie Pro}�erig iininediatel,y }�rior to the date af '' `y '
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<br /> , � �akiag, rri� t31e �aAscsce oL' �he }��oceeds paid to Horrower. ��,' ,
<br /> � � : If thF 3���ert�* is abandonesl by Borro�er or i# .tfter notice t�}• Lender to 13orrosver that tl�e condemnor offers ' ;,�, :
<br /> , Lo pusksmss.awa� anr aettle u clr�iiu tor �iasu�agr�, fiorro�ver iails w respond to Lender wiLtain 3U davs 'oi ti�e dai.e � ^r
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<br /> . of'pu�It.�u�:toe� I.e�ulGat ia atabia�ri�ea�l ta� ��11,e:wL au�i xEr��iy ti�e pr�c�-�eu: at Leaai%er s opciotx ei�her tu reswration os• ;, , �,
<br /> �epair of tk�e �'raperty- ur ta tlie suins saoured t�y tdsis \iostgage, " ;�„
<br /> � Un1eNs Lender arid Barrow�r 4thenvise agree in u•riting, any sucli spplica#.iou of proceeds to priaicipal sliali
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