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<br /> � � �If itodec���raTagraph 18 hereof ttie Propert_y is r�.�1r3 or tl �c Properep i- oti�� rtc ��e arryusr<-c1 i��� ( � -+�:9er !.�°� �rltr� �
<br /> � ;:tia$i apPIY, rcao ltater [hr� �mmecliately �'�ric:s tc3 the � � fe � s tix f'ra��ettv ��r ct� ., �_ yui4�cwn i��• f,� . .� .~ r. : �+iy h c3nc9+�
<br /> � � � 3xeld� b}F 7.ent��efi at thc t� irnc o[ ap�'alisutioa� :ts, Lt earc;dit ,��:tu�,t tlu .�i� ;s e� Aarc�a t , r , m� Atort �x�qc.
<br /> 3. Appli+cation of Pal!m�nts. linleti, af�r�lir.able l.t��- �Fioc ��ie, othenti i.=c . .L� l pnyc ir�Yts i•ec�•i�•cri fsti� L�..n�ier
<br /> ; �� � � u.a��er tka'e �aie, :s»� ��aragraplts 1 and 2 k'�creof giiall I �c upplied bp ),cs�dcr urst �n �syrnrnt �.ef snwun�.s x>asgut�le C+ r �
<br /> �nder by Borrower unc�cr par3�rApli 2 i�er�of , tiieri to in�erest � �..y�: 1�1e an tlir \ ote and on I'ututt• :�u' vaneea, ii
<br /> , � a,ny, �nd tl�esa t� the prAncinai of the \Tatc a.:�ct to tl�e t ,rinci�nl oi Futurc .arit•�nrc �, it any.
<br /> � � 4. Gharrges. Liea� . Borrow�r sli�ll t�a� nt 1 taxes, �s.4e,yssrncnt� ancl other charges, fines and impositions attrib-
<br /> '' u�table to Lhe Propert�r whic6 msy attain a paiority over tiais kIortgage, and �round renLs , iP any, ut Lender's
<br /> ;,,� � ' 'aFtftzon an t�e nianner Iaro�'sded under paragra�i� 2 tieceo3 or 3�y 13orr+a�r�er rnnkin� nnynaent, :rhen due. ciirect3y to
<br /> ;,, � . ttae psp�ett tlYereof. $orrower sha21 promFitl_y It�,si�isli to Leridcc nl1 notices of sixxoimts due undcr clris Fsatagraph,
<br /> ,;;�' tr.�d. iq ,�:1�e e�entBarrcxswer shali xnal:e ,paynien� diTectly, Borrower :lzgll �rmmpx.ty ;urnish to. I;ender receipts evi-
<br /> ; � d�enving suu�h p�ymen#s. Borrax���' s3talt �xrornr�lr-"disc4iarnc an�- iien wltir.h iius Xsriarity oves this \iort�age; gra-
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<br /> " <'; vfided, �hat $�flrrower shall �sot 6e-re<{u3red .tt> clsseliurge aiiy sue}x lien sn lang as L�+orrower shssll agree in �riting to
<br /> v" . `the.pnymen 't of tlie oblzgssition seeured by such Iien in a. ana�ner z�ecep�able to Len,c3er; or shall ia gaai iai�,h contest
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<br /> � k sueh lien by, qr [le#enci enforcen�ent of suclt 3ien in; le�sl izrocer*clings wltir.h o�ser.e.te tc� prevent Llie enfnrcement of
<br /> , `� thc+ liem or fnrfeiturc of. the Nroperty or any- paat tl�areof. ;
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<br /> � ,� 5. Hazc�d Insur�•-a. Borrovc*er sl�all ':-.eep tl�e iiuprovemenLs n.�w exis#ircg ar hereatter ereeted an the Prop-
<br /> � �;a ezty insLred � geitist loss by fire, hazards ineluc€ed tivitit4iz t�e term "exiended cavea�.ge", and sueh otf�er }snzurds tu
<br /> � ' � I�ende;.mAy reqvire und ii� suctz arnounts a�7r� S�r sucii pei�ior3s ais I.et�der inac re�-�ire ; provic�e�; tl�at Lender shatl
<br /> �j � not require t�at ihe amo�nf, oi sueh ca��erage exceed tlxac a,iiiount of eaversge req€aired io }�av tile sums secured 'hy
<br /> � ihis Moi't�.age.
<br /> :� � Z`he insurance carrier ��roviding tl�e in�ursnce shalf t�e cliosen tsy� Borra�ver su6ject to a�provst uVs,� Lender ;
<br /> ' provided, that such approvssl sha3l:nat be unae�sonabl�- wi€hheld: :+�11 premiums o� insursnce ��olieies shall be paid
<br /> , '�'� ai Lender's a�tion in ikte manner providecl under pairagrap'1� 2 hereof or Uy I3orrazver mmkin� ps,ycneni, svhen due,
<br /> ,� ; directIp:to the insurance carrier. i
<br /> ' In the event any policy is not renewedi on; or before ten days of ifis ex�iration, the Lender, to protect
<br /> ' ? its interest, may procure insurance on the irnprovements, pay the premiums nnd such sum sha31 become
<br /> -? irnmediatelv due and . payabie 'wi�th interest ut the aate sei forth in said note until paid 4::� shall ` '�e
<br /> ; s�cured by this h4ortg�age. Failure by Borrower to comply ma�-, at option of Lender, constitute a default
<br /> , , under the terms of this"_zviortgag�.
<br /> , ,t AlI'insu�ance policies a��c3 rene��uls tliereo€ shsll 13e in torax acceptable t:a Le�c3cr and shall inetude '� standard
<br /> �„ �,r inoztgsge cis.iisein'fat-or oi and in iorm aceeptz�ble to Len�cler. i.ender shalI has�e tiie:right ta liold -the policies and
<br />� � ,�, . . �. •`2i'x2R'1ia �`,aicx'20i���,BT<u��. a�it'3. fiJr'^ci��5}'iai.i� j)iva:2p^r��V fui,::•.$:i t.0 1:��1`3or� 3]1 . . rnMiin�yg�� nn�.iCC'S &1]C,� 31�. �1'CC@3Ut5 02��., ]1&ld pTC' . .
<br /> ; � ; . miuras.:In #�ae event o£ �oss, Bonoca+er shall give promFr �iot�ce to i.i�e insur�nce carrier anr1, Lender, and I.ender ' ;
<br /> < a zasay make proof oi loss if not made promp�ly Uy Borro�ver. - '
<br /> � Unle.s� Lender ¢nd'�ozrower othei�vise; a�eee in writiag, insurane:e ��roceeds shall Ue applied io res�aration =or
<br /> ,1 � ',fi repsir of the Property �amaged. pravided sucrn restoratio3� or mpair is economic�lly iessible :and the security oi
<br /> �°; � t�is \iortga�e is not tlae�eby impaired. if sucli restor�.iior_ or repair ss not econoniically ieasible or i£ tlze securit�*
<br /> ,';.. � trf this �4orEgage �vould be impaired; tlie iusuraa�ce }aracee<is shail i�e :3 p�lie� to the vums secured Uy this �Iartgage, , °
<br /> p ccitl� the excess, it any,, g:Aid to Borro�ser. If the• Yrol3erty i= nl�andoned nyBorro�ser-or ii Borro`}•er iaiIs �o zesponci
<br /> :; ' � ta Lendex wiil�in 3Q �ay� aiter notice by* Lender to Borrower tiiat ihe insurance cnrrier ofiers to settle a. claim for
<br /> � `�� insurauce b�afits, .Lentler is sutho=ized to col3ect und aYsply the insurance proeeeds at I.ender's opLion either to
<br /> Y ; "� r�estoraiion orrepair oi :z�lis Fropertv or to the sums secured b� tliis `r:iortgage. ,
<br /> � Unless Lender and I3orrower othenvise agree in svriting, any such applicntion oi proceeds ta �rineipal shali
<br /> � nx�t extend or jrostgons i�e due daie of the inontlily installrnents i•eferred to in paragraphs 1 and 2 hereof or chenge '
<br /> j � tbe amoun� of sueh instsllments.
<br />� � If under psra�raph i8 hereoi t1�e ProperGy is acquirexl 'oa I,enu�i , a;i r;g;L, tiile a d �r:;eres� oi R�rso4var in
<br />� � sind to any insuranoe pa3ieies nnd in snd t,o zhe �rroeeecis t iiereoi ;to inc ��ct�i}� o = ttie sur� � �::reti by th�s Itiiorc-
<br /> ry � .. �g$ 1R2R7CL728iR�V j.Ji'11+5' tV +'`uiii � 5±si2 . AL aCut37E�t10^..) . ..h,.3:i.�nh i'� nm ✓anmr� on .in rlin �.prnt�prr�....:rr�nr �n f3?n �alp n� `�
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<br /> s aeqvisition sfiall pass io I,ender.
<br /> ; 6. Presezvation �d Mcunten�ce of Psoperty; I.easeholds: Condomauums Borro�ver shn11 keeg the Prop-
<br /> ,� ; ertg in good repair and shall not pers.it or cor�nmii waste; impairment, or �eterioraiion oi tbe Proper%v and shaif
<br /> ,, , :, c+omply wit,Iz flie proti•isic�ns of :sng 3ease; ii this 11ort.gsge is on a leaseholci: If tlias 34ort,guge is oa a condominium
<br /> � � unit, Barmvicer shall .perforni all oi Borrower's obiigatfons under ihe declaration oi condonainium or master deed,
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<br /> , -s ' the by-tav�s andregalatsons of i:he condomini�un projeci anci constitueni documents.
<br /> ,�, . � 7; Proieztion oi Leader's Seeuzity. Ii Borroner iails io perfor� ihe covenanis and agreemen[s caa�tained in
<br /> � f�Tnis \qqrt�a�e, or if any .aetion or �2oeceding is conxmeneeci which inaterislly affects T�encier's interest in the Prop-
<br /> x ° M erty, including, but noi limited ta, eininent dc�main i�:�ai��ency, caae eniorceuicnc, :or arra�geinentc o� }�roeeed-
<br /> ;�, � ings involvin;g a banksupt or decedevt, ti�eix I.�ender �r I.e3idei s of�tion , u�on cxocice to $orrox>er, may n�ake suctr
<br /> ,� ' a�pearances, disburse .sucl� suins and take suc� acf.ion as is i�ecessary io protecL Lender's interesx , incl�ding, but
<br /> � , snot lisnif,ed to, disbursenienC of ressonsble atxorney�'s 'fe�es and entry� upon the ProperGy t�o make repairs. 4ny
<br /> ,� , � a.uiqunts disk�uFsed b_r• 7.ender purs�ant ta il�is psragrapii 7, jritli interest thereon , s4iail beca�ae additiossal indebt-
<br /> "� edness of Bos'rower secuted by this _lfortgag�. �Jnless Borrow�er and Lender agree to other te�ms oi -payrnenl;, sueh
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<br /> � ' ainouscfts shail bc payaka�� uprrn notice from I.e�der to Borro�ver requesLing pa,yment thereoi, and shall bear inter-
<br /> ' ' est from the date of disibursement st t.lie rat+e �-tated in Lhe Note unless payment ai interest �t sueh rate wpuld be
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<br /> eonLrsry to applicab2e Law, in nhich eveni sVclx i�maunfs sha3! 6ear iiitereet sc the highest rate pennissible by
<br /> +� � ' ' sppiicable. la.w: \Totlain� confained in tliis �'saragzapii 7 sf�all require Lender to incur an,y axpense or ao any -act
<br /> fser�under.
<br /> � B. 7,nape�tioa. Leradet znay x�ake oc csu=c to Ire t:�3xlc re��pnaDle entries upon and in�pections of the Prop-
<br /> ;` es^ty, prorzded tliaf Lenaler etxail give Borncru�,Pr u�tice ��a�ior tc� atns- �urla ia,taectio❑ s��ecit�in� ressonahle cause
<br /> � t'xs�retur i�eiat�i to Z�es�d,a;'n 'r�ie:est iu :l;e P,—ap�rLt�.
<br /> ,, , : ` 9. Goad�maaticnm The proceed� oi a �iy n�rard or c3uim ior d3:mages, ciirect or eonseqvential, in connectian
<br /> `�' t urith �y r.�rrxdemnstiou -or otdser 3aking ai tha Yrofacrr.�= . or �7art: tiae�coi, ar for conveyac3ce in lieu oi con�lemnu-
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<br /> r , taQu, are lxereby assig�c� and shall be pand io Lendex.
<br /> In the e�c•ent of a ttssai taicing oS the Yrope3'ty, #lie ��rtrceed� stiRli he a��}�lied �o �he sums secured bg• #•his A4orG-
<br /> � ' gage, u�ath k.t�u, excess, ii any, }>aid to Borro=+�er. In tl�e event of a �a:rtial iakin� ai the Fro�rerty, unless Borrowes � � < � " "�;
<br /> s.nd i.ender c�ther�rise agree tzi �ari&.ing� sl�ese e�af1 3�e ap�3lied La dlbe suxti seeured s�y tisis �3origage suc.h propor- _ � -; �i
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<br /> ' i z.ion o£ �e pruceeds a� is aqual La #.3�at prapc3rG�ian wPii�eL t�e aniounL �of t6e sunze securec3 U5� this \4ongage imme- .` ; m ;
<br /> a� := c�iatrly,priar ia the cia#�e of takir�g beass io c�1te fuir z��u.rkea uatue of tase Yro}aert�zr immediai.sl_y }�riar io ��e daf� of `
<br /> tsking;:aui� ^�he liatesssc;e-of.tl�e }�roceeds �aid to Borroxaer. �z� �E'
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<br /> ; .. : If t�xe'�am�ascty i�s s�sandoaed by �armw=er os i€ aiter. .notice Uv Leader co Borrower Lhai the eonde�nor offers '� �`
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<br /> r_ � . . . . � . . . . fiD 34ltlJi'C 8� 2lWxll'll O!" biFS'Ii43x:LL, r.i�a.�in: ft3Y �1l�,a�YfiRt� *yXtlS. .�4iTlUN�7' }tilab LO Y'±:a}st)13�i l0 �acTii�CI�. R"1L'idl:l .:.(j .�....� S Gu 'L}'iE . �32.[: .,... . „ .
<br /> .� ; ...f muakr3w�.�c, Lculna io �suLL��itu�.3 Lo .:ul'a�L as'.3..r���13' il,., �r:.rac�s at I.en<'.c='s opti�.. e.:!:er :o :�-cstvrsti�n a: '
<br /> nepairofthe PrnperGar ,r� tot,l�e ,�axmsr�eGsttac3 b^ctfiiiE 1s"ortguge. �``
<br /> �s911ess i.eudeu� aud �orrower �etiienviec agre.� .� �vritsng, auy su,eh appliestsaou of proceeds io pr'snei�al sl�sli
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