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<br /> � � If uader �aragraph 18 hereof the Ysoperty is ;�ol�i or ttie E'roperty is otherwise .�.ec�uired bp Leneier, I.ender ' �
<br /> � � �hr►Il � �)zly, na ]at,�ea tlian immec�iat.cly� {�rior to the c.t�ic of t�he PrUperty rrr' it, acqnisition t�y Tierader, any '3�und�
<br /> lield by Lender ut the time of a�plication us n cre¢it n�ninsc the sinn, SEcured Iry this �toriga�;c.
<br /> 3. ?Applicatioa of -Faymaats, Untess �i����licabtc laK ��roc ider; othea•wise, all paymeni5 re.ceived by Lender
<br /> ' uhder the Nota unrd �raragraplEs l;nncl 2 !'zereof shn.il Yre ttipY�lieri F>y 'I,ender �ixst. in ��ay��ent of amounts puyahle ta
<br /> o Lendez• by $orxower under para�rupl� 2 Eiereof, tEaeix to iraterest �itsyitl�lc on tt�e NoCc anei on FuLiirc Advanaes, �f
<br /> k Q� , ariy, smd then t� t�ie principa.l of:the iVqte �nd to t.he princi��nl of Ptrturc Advursccss, ii any. '
<br /> � (^ij ' 4. ..:Charges; Lieae. ; BPrrower slisll- pay n1I taxe�, nssessrnex�ts nnci otiier chnr�es; fines nncl impositions attrib-
<br /> ' ° e--! ut�.ble to the PFoperty whieh muy uttm'xYi a priuxit3> over G }xis �Tortgage, und �rounc3 rents, if any, at Lender's ,
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<br /> " � C*'J ` pptiuzr in ttre m�nster providee2 under ryArt�gruPl� -2 ,hereaf oi^ #>y Bc�rrower izinkinb �saysnent, �uhen duc, clireatly:to J,
<br /> "" p : the pai:yee ttrereof_ Borro'wer sl�all promptly furnisix to :Lender mll notices of umoctntis cTue Under this parsgraph,
<br /> „'j ;' ,� 8#td in :the event SprFower shall make payment directly, E3orrovcqrshall promptly furnisli to L,ender receipts evi-
<br /> ;, .N� ' � :; dencing such payrnents. 'Borrawer shall Fii•omptly dischi�rge any lien �vhich tias priority over this :l�ortgage ; pro- ' '
<br /> t{;� il°�r vided,",th&t Borr,owser, shall not be:recyuired to discliarge an}= sucl� lie�r so long -as Barrower eF�nli agree in writing Lo '
<br /> z, � k � the pay�uent crf the obligntion socureci k�y suoh lien in .1 mttnner acceptuble t�;Lender, or shnli in �ood faith contest
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<br /> �,x ;; ; such lien .by,.ar :de£end anYorcem6nt oF suclt l�eu iT� ; ] egaT �araceedings wliich oparate to prevent` the entorcement°of � y
<br /> ; ,� ' the lien or forfeittrre af the Pzopert3� or � ny part tliereof. ' ; � ': '
<br /> y„j ;, ; 5, Hazarct Insur�ce.'- Borrower sitsll keep tlie impro��ementsnow existing or hereafter erected on the Prop- � ?
<br /> 4 '` g , erGy "insured against loss,by fire, hazards ineluded �vitl�in tfie terrn "extended coverage", ond such otlrer haza�ds as
<br /> ; � Lender m&y require and in sucli �mounts anct for suct� periods a� Lender may require; provideci, blattt Lender shnll
<br /> ;; not reguire that the amount t�f suclt covera,ge exceed tliat amount of covernge required to pay the sums' secured'by '
<br /> this Mortgage.
<br />��� '"� Tne insurance c�rrier }.rvviuhig C�.c ;n,ursn�a s�atl be chasen �y Borrower subject to agproval by l,�nder ;
<br /> � '� ` �nrU�+id�ed, that sucis approval shall nat be unreasona'�ly withhel�. All prs�is�s en ins�3r�encP policies shafl be paid ' '
<br /> �} n� at Lender's option in the manner provided under parsgrnph 2 tiereof or by I3orrower rnaking pQyrnent, when due,
<br /> s,. � HirectIy to the insuranee;carrier. >,
<br /> ' $ In the event any policy is -not renewed on or before ten days of its expiratson, the Y.e�der, ta piotect �
<br /> x ? ' its interest, may procure insurance on the imprcvements, pay the premiums and such surn shall become �
<br /> ' � ' ' immediately due and.:payable with interest at the rate ' set forth in ' said note untiI paid and shall be '
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<br /> p ; ,j secured by thia Mortgage. Failure by ,Borrower to comply may, at option oF Lender, : constitute a default �
<br /> �i . � under the ternis af this Mortgage. ` �
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<br /> ,� ( A13 insurun�e policies and Tenewals thcreof sh�ll be in form acceptable to T.ender'and shall include` a stand8rd ;
<br /> � cnartg3go elause' ir. fsvo:'of ar� %n f�rr.z scceptaii�e to Len.dea•. L-eracler sh�ll linve the rigl�t to l�old the poticies nnd �.
<br />� renewals tl�ereof, rt.nd .Borrower 'stialt promptl,y furnish to Lender all renewal notices and all xeceipts of paid I�re- ; a .;�
<br /> ; miums- Tn the event of; loss, $orrower slaali give prompt notice to the insurance carrier and : Lender; and Lender 3 ,;
<br /> ` may make prooY oi loss i[ not mude promptly Uy Borrower_ 7� .
<br /> ` Unless Lender and .Borrower otherNise agree in writing, insurance proceeds shall Le npplied io restoration or �
<br /> � "• � repair af the Property damaged, provided such restoration or repair is economicallg #easible and the seeurity of .
<br /> `, ? 1 - this i�lortgage is not therebyin�paired� If such :restorltion or re��air isnot economicaliy fcasible or if the seourity ' '
<br /> M ^� of bhis 114ortgage would t�e impaired, the insurance ��roceeds shail be up��Iied to tYie sutns secured bg this Mortgage,
<br /> „� with tHe exeess, if any, paid ta Borrower: If the Yroperty is a,bat;<loned Uy I3oi•roK•er or Sf IIorrower fails to respond ^
<br /> ` � to Lender within 3O days after notice by I:ender to Borro�ver tlist the insurnnce earrier offers to setLle a claim for `
<br /> , ;, � , inewance benefits, Lender is :authorized .to collect- and apply tlac `insurance proceedss at- Lender's option eit�er to � ' :' , . ;
<br /> � restora.xion or repair of the ProperGy or tothe suins secured i�y Lliis i\Iortg3.ge. � ,:
<br /> U�less Lender and Borrowei� othenvise ngree in writing, as�v such application of proceeds to principal shail
<br /> : ' not extend or postpone the due date of the monthiy instalftnents referred ta in paragraphs 1 and 2 hereof or change
<br />� - � thq uui�unt t,f ;sue� inst&1lments. ' �
<br /> � If under paragraph 18 hereof the Froperty is acyuired by €.ender, sll xiglit, title and interest of Borrower in ; r
<br /> and ta :any insurance policies and in and to tlte proceeds thereof (to the extent uf the sums secured by this �Iort-
<br /> � a ? gage ir�mediaf,ely �rior to sucli sale or acquisition ) resultiri� from eiaina�citu tlie Propei�ty prior to the sale: or
<br /> S ' �,equisition xhall pass to Lendex. - r ' '
<br /> ' � 6. Preservation cmd Mmatenance of Property: Z.easehalds, �ondozniaiums. Borrower snai� kee� ti�e Prop-
<br /> erty in good repRir and shall not permit or commit �vaste, im��nirment, or deterioration of the Property and shall ' '. ,
<br /> _ � `-. � compl}* with the provisions of any lesse; if this lfortgnge is on a leZsehold. If this 1lortgage is on a condominium : - j .
<br /> ` > � , : unit; Borrower shall perfornr all of Borrower's obligations under the declaratiou of condominium or master deed,
<br /> x the by-laws abd regulntions of the condorninium project t�nd co�scituent docwnents.
<br /> '3 7. Yroteetian of Lender s Security. If I3orrower fails to perform the coven�nts and agreements contained in `
<br /> ; � a this Vlottgage, or ii uny ac6ion or proceedin� is comn�enced �uhieh mu 'cerially affecGs Lender's interest in tha �'rop-
<br /> � ' ; � erty, inoluding, ;Uut not limited to, eminent, domain , insolti•ency:, code enfarcenient, or arrangements or proceed-
<br /> 3 . ittgs invoiving a bankrnpt or i�ecedent, then Lender at I.ender's option, upon notice ta Borrower, inuy make snch
<br /> appearances; dis6ursesucl� surns itnd take sucl� iictioii as is neofssar}� to probect Lender's itrteres�, including, but
<br /> �, + noG limited to, ' disbursement of reasonable attorne,v's fees and entry upa� the Property to maice . regairs_ Any
<br /> . j amounts diebursed by Lender pursuant to this paragruph .7, wit.h ic�terest ttiereon ; sha13 t�ecome additionai ixadebt-
<br /> '' . , edness:of Borrower secured by this 14ortga�e, Unless Borroiver aud Lender agree to ot3�er terms oi payment, sach
<br /> � , � � ��� �� � � amoun�a shall� be p�y$�1e upou notice fram Lender to Borrower requestix�g ��ayment ttaereof; �nd shall� �bear inter-
<br /> � est from the dabe of disbursement at the rate stated "an the I�of,e unless payznent of int;erest at such �ate would be ` '
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<br /> ; j cantrasy to applicabie law, in wliicl� event such ainoimts sl�slI bear interest ni the �igl�est rste perrnissible by
<br /> ' spplicable law_ �Tothing contained in ttiis �,Rr�graplz 7 sha11 i•ecauire I..endea� to incur nny expense or rlo ary act,
<br /> � � hereund�r.
<br /> � - n ; 8. Inspection. Lozider triay make or cau�e to lu madc reasona�lc 4>ntrieh u��on and inspections, oi the Prop-
<br /> , , � . � . � E2'f.�'� p'.."Ol�l(�CCl .�?'�la't I.CI_f�C: 3F?-'al� �'2S'f,! �G�7'TG�15'E'T ROt ? CC ��l't())' f0 ;l?t\' �12C�1 3I1�1?CCt10?) .�J�E'C1fVltlo TE';fSOT7Af?� P CRUgE � � � � . .
<br /> ; ' Gherefar rsiated to I.ender's interest in the Pro}aert,y.
<br /> � 9. Coademaation . The proeeeds of uny au�ard or claim for damages, direct or eonsequential, in connection
<br /> � ' ` � with fir3y condeznnration or other taking of the Property, or }�ar€ thereof , or for convevtLnce in lieu o£ candemnn-
<br /> +� ' tion, ar+e here6y.assigned snd s7na11 lre paid to Lender. '
<br /> M fn . the event; g� a total takin� of the Property, the �iroceeds :slinll lie applied to tl�e �ums secured i�y this '_'�Sort-
<br /> ` gage, with tlqe excess, ii xny, gaid ta nnrrower. Iir tiie: event ot" .a �artial trLkiug uf tli� Property, unless Borrower .- �'� Y � "`,
<br /> �, � and Lea�der oLherurise agree in writing, tlaere shall be applied ta tt�e swns securecl by zhis A3ortg�.ge such propoT- �s' ,. �
<br /> � x tion of. .the proceeds as is equa3 to that prnportian whieh tMe anxount nf the sums secured Uy tliis �.4ortgage i�me- �� ,
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<br /> � diatety priar #o the date pf #alting Uears ,to 41�e fair iiiarkei. ��faiue of tLe Prp�erty iinm�iately prior to the date of • � '
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<br /> r, a ' taking, with Lh�e:ba.�ance of the prooeeds psid to Bc�rraaver. 4��3.
<br /> , _ ., � If �he I'so�ert3� 'ss abandoacd b3 $Arrfl�rer nr .it �.fier r.ot;ce 6r I.c:r.der :o Eonoc�•ei t3�st the candemnar �ffers ,, , . ..,
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<br /> , ',^ ,� ; tQ ma3� w� s1+:zd oz seLtic s e1�im :or ti rin�sges, liarro���er fsi!€ to a�es�c�nd tc L�n�+er mithia 30 dsys of the date �
<br />� � 3 of ��. nRtice, �;ex�der is, suthc�rized to ces3lect and a.�ply the ��ix�eeeds at Let�der's opt3on either io restoration or ,�. '
<br /> � repau saf k�i�e Prope�y or to the sums seoit�d Uy tdiis �Iortgage.
<br /> IIncless Lender and Bormm�er otlierxvise aRree :iti writix��; auy suc2t app�licatian of proceuis to principal shaU
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