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<br /> � !f +tpder O�ar�Tm��tx 1 $ iarre�ot t �ir Yra1 ��^rt4- i4 •.slci csr ti�r ('ro�rerty iw othcnvt,e .,G�c� uirc�i i,y T,c�i �er. Lencfer �
<br /> �shal) oppty�, sao ls6rs tM�a� it7���i�a�ixaGely ttirir�r ec> tlrc �,u6er oa` the f�'rca�,c a.t�. ur tt, axcyuE, it � on by Lc•r��der, :rny E'i:rrri�:
<br /> � �eld by �I,er�c3er u6 thc tirzae a( ap��lieuti�ix :aa m � nrdit ;�a;sin,t tii�� ru �,n� serared b��.• thi. � Gc,rrgrsg�•. � �
<br /> � 3. Ay�atiaa o! Paymsnta. L�nlez:+ t���Fr;icnbftr !xx proe�i, fu� othertt-i:e��, sll p.xyt�nen2s re�ceie¢d t�y� I.�nder � � �
<br /> €�ndar the P►'tste and para,�;raplus t �nd 2 hereot �liall f ,c� uj,F7lie�i I,y f .caider fir�t, in �myu�eeit of rzrnounts payablc to
<br /> ,�"„� �;ender by �orrower under �paragrs}adi 2 t�areof_ i[�an ta incerexc � �avu3rlc+ oz� th� '�'ole :t.ad oz� Future r3ciwFinces, it
<br /> � sny, and thca to the prineipal oi the Notc anc{ to the �>rinci��nl oi Fixt,um .3cicances, ii 3ny,
<br /> --y 4. Cha:gea: Lisns. I3orrower slitttl }�uy atl taxes, assesxrnent,q r�n.d oiher chri.rge�, 5nes snd imposit�ians attrib-
<br /> M eitable to the Praperty which may aGtain n priority over thi� �iort�uge. anc� �rntmd rents, if :�ny, at Lender's
<br /> � p option in the manner prawided under �yur��raph 2 here�€ ar iiy }3orrawer Tnakicia payment„ when due, directly to
<br /> � tlie a ee ther+eoi. $orrowe� aha11 rom �tt furiiisi� tcs Le�der att natices of arnounts due under this
<br /> � P Y P F Y par�graph , ,
<br /> snd in the esrent $ormwer shall mske puyment directly, Burro�vcr sh�ll pron'�pt3ti• furni�h io i.endes receipts evi-
<br /> � dCn4ing such p4ymeats. Borrawer ahall prom�itiy disciiarg,e nny lien �rhich has �iriority over this :itortgmge; pra-
<br /> � ; rri8�tl; thst S�orrower shall not t�e required ta dssehttrge any �ucli iien so lon�; a; Borra�ver staalt t��rae it^a writing to
<br /> %: 4�e=psymeat o€, the otaligaation secuze�{ by such i 'xe�7 in zl inanner acceptable to I.endcr; or siin i( in �ood faitf� contest
<br /> � �ueh lien by, ordefeud en#orcemem of such lien in, IegaF �>roceerlings s�vlaich o�rerate to pre�ent the enforcement of
<br /> ��re'lien or forfeiture of tt�e: Pmperty ar nny part thereof.
<br /> 5. Hazard Ins�arunca_ 'Borrower shsit kee� tl�e 'sinparavemenis :»n� existing or liereaft�r erected on the Prop-
<br /> ert3r it;sured 'a�sinst loss by hre, haza.rds included �vithict 't►se term "ex=endecl coverage", �.nd such ather liazi�rds as
<br /> ; ` E�ecider tnay sequise .�nd 'sn sueh ainaunts and fnr such z;esiods us Lencaer may r�c�uire ; prnvadeci, thstt LendGr shall ` ;
<br /> ; " ;; rzot require t}��t the amount-of suah coveraga ex+ceed that �rnomit oi coverage required ta ��cy the sums seoured `by .
<br /> : this`Mortgag�,',
<br /> ,, The insc€ranee esrrier providing tlie insurasiee �hail be ehasen Ucr Borrotiver subject ta' syproval i�y Lendaz;
<br /> ' psor•ided, tliai such approvsl ehaI! nai be unreasonabiy �vithheld. a12 premiums on insurance policies slm.ail be paid.
<br /> ' at Lender's opiion in it�e n�anner �arovide�3 under �aragrspf� 3 l�ereof or by Borron•er makiiig puyment, tchen due,
<br /> " ; ciirectlg ta the insurance esTrier.
<br /> rr `'; In the event any pc�licy is not renewed on or before 'ten days of its espira#ion, the Lender; to pratect
<br /> ,�• ; its interest; rnay procure insurance on the irnprovements, pay the premiums and such sum shall °becam� - ` '
<br /> irnmediately due and payabie wit2� interest at the rate set fort�z in said note until paid and sh�ll b�
<br /> ` ' : secured by this Mortgage: Faiture by Bonawer to cornply may, at ogtion of L,ender, constitut� a defauit
<br /> i - under'the terms af this Mortgage.
<br /> � A!i insurance policie� and rene��snls tl�ereof shall be in aorm accep�ablc : tv Lencter and shatl incluc3e �t stanc�ard
<br /> s � ' iraortgsge clause in favor r�f and in form acce��tai>le to L.ender. Lender shall ltac�e tl�e right tea hold the polioies anci ` . r , `
<br /> �� , 2 renewals theseof, �snd Borzawex sfiall }�romptly iurnish to I.ender sli renc�a-a1 no�ices ancF a3i receipts ' of paid: gre- ` . -
<br /> w ,,,.r rniums. In Ghe event of lo�s; Borron�er s}isll gi��e prompi iYaGic� to th� insucance ci�rrier snd Lender,'snd Lender
<br /> � � rfaay mske grnof oi loss if not made �romptiy l�v Borro�ver. r
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<br /> ,� : ; Uriless I.ender and Barrower otl3er�vise sgree in �criting, insurance proceeds shall be applied ta restoration or ' ; '
<br /> rrdpsir of the Fioperty dazuaged, pro<<ided ,ucli restoration or repair �: econoruically feasib3e and ihe security of
<br /> t�is \4orGgage;is not ihereby icxipaired: If such restorstion or repair is hot �couon�ically feasible or if 'tlie security
<br /> ' o�' t�is "tilortgage wouId be impaired, the insurance proceec�s sluill be at��ilied to the suins secured by this Ariortgage,
<br /> , ; «it�i the excess; if uny; paidto Borrower: Ii the Yro��erty is abandoned hy I3orro�ver or ii .$arrower iails. to cespond
<br /> ` ' t€� Lender witi�in 30 duys sfter notice Uy Lender to BoTroScer that the insurance-barTier a�ers to setile a claim ior
<br /> ineumnee be�efits, Lender is authorized to cullect and :ap�ly i,he insu.rance proceeds at Lezider's optian either to -
<br /> i rest.oration or.repair of the Property or 'ta the sums secure� by tliis liorigage, �
<br /> ° ;$ : Unless Lender and $orrower otbei«•ise agrec in �vriting; any suc�� aF�plicution of proceede to principnl sha32
<br /> , .�� not extend or postpone the due date af tlie monri�ly instaiin�ents referred to in paragrapl�s 1 snd 2 hereoa or change
<br /> '� t�e smount af such installments: ' -
<br /> F ; If uader paragraph 1$ hereof the ProQercy is nequirecF by Lender, all rigIit; tiile and interest of Sorrawer in
<br /> ' f a�d to any :insurance polieies and in snd to tiie F�roceeds il�creof � io tlae extent ai Ehc sums seeured by iliis • ?4iort-
<br /> j g�ge immediaiely priar tca such sale or ncquisition) resulting irom �iamage to ilie I'roperty prior to �4e sale or �
<br /> � ucquisiiion shall pass to Lender.
<br /> ' � 6. Presera.ation and McanLencmce of Propgzty: Leasekiolds: Con�omiaiums_ }3orroticea shail keen t_ha ur�Y �
<br /> �� � � �� �y� i�i �g�ou s�l�air and��snsii noi permit or coinznit «aste, in�ipairanent , ur c�eterioration oi� t�ie �Property= and �shall � ���
<br /> ` � comply with 't3ze pro<<is;ons of anp lease, ii thia �Iorf.gage is on a le:�se�old: If ihi� \iort�age is on a condominium
<br /> £ : u�it, Borrowea shall perionn ali oi Borrovicer's abligationsunder the cLeclaration ot condomsnium or masterdeed ,
<br /> , ' a < tt3e by laws ts�d regulations of ihe condominiun3 projecr. arci cons[.itvent documenis.
<br /> � 7. Protection ot Lendeis Security. If Borrower fz�i1, ta perforxn the covenAz�ts and a�reemenis contained in
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<br /> ' t ihis 1\1ort�age, or if any aetion or proceeding is commenoed Svhich izraieruilly aftects I;ender's interest in the Prop-
<br /> ' `� erty, inaiuding; �ut not limited' to; erninent doinaiu; in�oi�-ency, eode enforcement-, or arrangeme�ts or proceed-
<br /> � �` ings involving a bankrupt or decedent; then L��der at I.endcr's optioa , u�ian nat:ce Go Borrow•er, may anske sueh
<br /> ` ; ' z�ppearances, disLurse sue2a svrns and take suc3i action as is �iecessary to protect I;ender's iziterest; inciuding, but
<br /> „���, not litnif,ed to, aisbursenient oi reasonabie attorney's iees and ent�� unon tfi2. I'rpperty io r.iai:e ,regsairs. An� ,
<br /> ° arnauuts distb�xrsed by Lenrier pursuarit io this �isragrapli 7 , �riti� interest thereon, shaI1 Ueco��e sdditio�al indebt-
<br /> � edness'of Borrawer secureci by this >'Lortgsge: LFniess Borrou�er and I.es�der agree to other tenns of nayrnent, such
<br /> �_ . + arnoup�s shall be paysbte �pon notice fron-� I.enc�er to BorroScer reques�ing parment tl3ereoi, und shall 3aear inter-
<br /> � est from the aate of disbursement at the rate stated in ihe \ote un less payment of i» 'terest st such rate would-be
<br /> � cvntzery to a�aplicable law, in �vhicti event sucP� amoui�is sl�all bear znt.eresi ai the highest rate permissible by
<br /> i appliea.hle laacr.;,n,Tothing eontaineci i�i tl�is pars�grap6 i sl�ii31 a�ec�uire Lender to izmur any espense or c�o any aet
<br /> .5 hereunder_
<br /> ' ' � B, .insPecf=cn. Let�der rna}•: �nske or cause to bc �nadc reason.�ble enfries upon wn�i in�pectioA� of the Prop-
<br /> ' ir . �. � � . . .
<br /> ea-ig , prvs^idt� - tl�nt Lender =1i�.1! give Borrowc7• +�oticr 3 �ric�r ta :irsv �=�c�#i in,t�Pction .necif�.-ing reac�nal�lc cause
<br /> ^, . . th�for retatp�3 to ?�ry�e*'=_- in+s��t in ttie Pro�.��-: . .
<br /> +. , < 9.' Coaci�eainatian. : The proceads of a.n,y z�watYi or ctaim Sor dam�ges, direc� or coc3sea�entia} , in connection
<br /> w�th any con+d+emnation or other i.aking of tiie Yro9�cr'ty: nr part thcrreoi, or for e.nn�•e��snce in lieu of rondemna-
<br /> � tion; are hereb3+:�ssigned and si�all t>e paid to Lender.
<br /> , ; ln the event of a tvta! taking of t#�e Property, the 3irocc�ed+ sliail Lc� applied tio tlie suu�s secured by zi�is _13orb- �, �
<br /> ' gage, wit?x Lhe excet,s, it �n}� , ,�r�id to �urro�rer. Zn the et�enz o[ s Es�rti�l tai�ii:g <�f i;lie Pru}�erty, unless $orrower - ,, � W ,?,�":
<br /> +': � , ssnd Lec�der af.i�envire agFee in uritingrthere 53i�31 be A�}�lieti to thc su�ns hecured by� thi� 1SorC�ge such propor- �?4 �
<br /> � � tze�n ot the grtsceeds as is eyual �,o tha� �aroportion �shich the smou�it af the sums secured 'uy tbis :�iortgsge imme- ` ' '
<br /> , di�tely prio� tac3 #,1�e d�te oi t&king 1�?er� 4o Cl3e fa.sP a3�ar�et ��alue ot !#ae Ymr*erty 'xmrnediatels y�rior to ti�e dat.e oi ' �.� `
<br /> ta.�issg, with t#re:�bala�ace of the }�roceeds paiel co B+orrower. , "� ?_.
<br /> If�eP ' _ . . � ,, n
<br /> % r�eriv a.c abas�doned br €iarr�sa�er �r �f sr.er �,a*afi� ba T�r��der to A*�rr��•er F^at tl:e cnndC��aer o@'ers � .
<br /> ' to m.akean a�-ardor settl� a cls� Sot �3ac�iag�.. I3orrowei ra�l�. to r�es�ond #o I:ea��1Pr s� ic.hir� �D �ievs o* the dste .
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<br /> + :i n� s�h �t.�rY. �..n�ta: ;r:w ,H„_ �-.� .... ..,;:>� :� a� 3 ,. ;,:., ,,. ...,e�:s �t Lender's ortion ei�her to restoration or � .'_
<br /> : re�a�r af �he Psroperk.;y or to the sucns senurttl t�y #.�ais .liortg�ge.
<br /> �1nless Lea�dec axzd 3arrocs°es ot3�,envise a�ree in wriiiug, anv such app}icafaon of prooeeds to �rincaprsi shail
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