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<br /> , � I# ttnder rae'tt�raplt 18 liereof ttie F'ropert}- iti sold ctr tl�e YroEaert.}• is ot{icna• la:c• ;icquirc��t by T.ends�r. I,ez�der � �
<br /> < ,1�u11 atPPiY, na tater tl�un ixncnedinteiv }�riur to thr. v,xla ot tl�rr- Prn�,v�ky �sr it� a�r,�ni,i3.ion by- E .��isder. xn}� F'� �ncia
<br /> i�eld by Landec nt �Ghe cime o,f � aPplieation us s� cre�.iit nguior:t the ,uui� srxcuct�d hk• � tyi� :�Tarc�;u�:,c.
<br /> �:. Apptieatiosa oi Paym�nta. IJnless aF�pticukalc I:�u l�r�vide, at}icrsr•i,c, :ti11 pa.rmeczce � eceived b,y I.e;�der
<br /> `� under the Tio,te asnd pAFngrap�aa;1 nnd 2 .I�areQt ujialE Irc app[iccl by I,ancier 1ii�t en payt��ent ot .unununt,Y j�u}rabge tn
<br /> "� � Lendr_r by Bqrtow+er under p�ragruplt 2' .hereaf, iFicrG to interE�t f�uyalale a� tlic \ara asnd on F'uturr. �1d��nnces, iC
<br /> " ` � ra,uy, ��s3 then to tEae princip�i of the �otr unci t� t��¢ �arinr�p3I ot F'uture .Ac}i•;ince�, is any:
<br /> �„ ; 4A, �hargwsr Lsens.;. Bar.e+awer shnik �ny ult t:�.res; a�essm�nts nnd �tizur ehargea, f'snc� and im�asiGians at�rib-
<br /> � ' " utable ta the Prnperty .whicki mny tattain a ��riorit,y over tbi:� 4tortguge, nnJ �raunct rents, if any, at I.ender's
<br /> P apG�ar� in tbo rnunraerr provided t+nder Psrn�rnph � t��reaf or bv C3i>rro�ver xnnkiny� �>za.yra�ent; when due, directly to
<br /> �Y �;A the p�yee thereof. Tiortrnve� sh[�U �ramptl,y fum;dsL� to T,crtdcr nt! notires ,nf nma�an[� cluc under tlria �aragr7aph,
<br /> T
<br /> � twcl.i�i tlxe evenC B+acra�rer slx.�ll �makc p�yn�eia6 aiir�:etly� E3orra�ver sltnlf r�$•nrnptly� tiurraish to L,ander receipta evi-
<br /> �,u� 'y • c�enuing, suqEapayrt%qnts�Barro�v��rshatl ��romptly c�sscl�r�r�c uny liea rxhicf�c:tias azrinx•it�v nverthis bLortgeage ,, �ro» '
<br /> �� � wacEed;� �hat,Borraw�ei ahall nut Uu re<{uirecl io disclir�sgc an.�;� s�ach .lien Sa los�g us I3arrow �;r strnii esgree in wxitir� to
<br /> � „� . � � � '�
<br /> �?'"3 ; E�ie p�yment o�+�4i� nbligwtfo�i ae4aeecE t>y sue}i lierr im n �nttnner ai000��trmGle tn I,cnder; or elYiill in baod fsith oouteat � �
<br /> �� # such lietx -hy, or.deF�nd �n#oraement oi sueli lieia zir, 3egal �>r�c¢edinp,� �c tieot3 n��crakc Co �rrnr�ent t,hc �nforeexnent ot
<br /> '� '� Ghe lien or farfeiture of Ehe Pro�erty ar ssny �attrt tlicreof.
<br /> „ � } 5� Hazard Ina�rance. F3oriawer shall keep tlre iroprovenxents no�v ekistin� ur tiereafCer erested nn the Prpp=
<br /> ,�, ( ; orty:insuretk against luss by fir4, hnznrds included cv3thin the term "extendc=ct cavern.ge", aiia sueh trther liazasrd� as
<br /> "" ` I.end�rxnay roqnire :tind'',9n such umou�ts :tncl for sucil� periads as I:encter rcci�;�• require ; �ro��i�led, bl�at Lenctes �hall '
<br /> '� � not,:Q+quir� thut Gha umounG of such caverage exceect that :�xnoun6 ot caver�t�e requireci t.a puy tho �ums securecl'by
<br /> t � this N;�ortgago. ':
<br /> �"� , � '�he insuranae carrier ��rovidin� the insurs:zca shnll ue clxs�sext bp Borrotiv�r suhj �ct to appr<> vnI I�y Len.cler ;
<br /> � , 't provi�ect, thrst such ap��roval shall not be unrettsonaabl,y w�ithheld: Al] premi-ttms nn insuranae ��oliciey shaii be puid
<br /> ' . 3 at Leader's pptiion in t5e manner provided under pu.ragrni�li 2 taereof or hy T3orrocvei•. tesakin� payix�ent, when : +elue,
<br /> � ` � ' direcELy to the insurance qssrrier. ' '
<br /> � :, � I� the event -any golicy is not re�ewed on �r before ten days of its expiratifln, the Lender, to protect � ,
<br /> � ,, < its inGerest, may �rocure insurnnce on the imprcavements, pay the premiums and such surs� shall :become
<br /> >; irnmediately :due and:payable with 'interest at t3fe raCe set forth in said note until 'paicTi and shaii ba � '.
<br /> -�A =. i :: secured by this IMlartgage. �'ailure by Borrower to comply rnay, at c�ption o£ Lr�der, cans3.itate a default '
<br /> � � ` under the ternis vf this Ntost�age.
<br /> < '. j A31 insuranoe polioies and renewAis- t3icreaf slsali 6e in ' form uac�ptat�lc tn Lend¢r te��i cttull iaiclude a stanr3urd �
<br /> ,: , j ' inortg�ge clause in fnvor of und in fpnn ea,caeptable co Lender. E.ender shalt` liavc t,I�e ri�lit ta' hold �thc ��olicies und � ; " , °
<br /> � rene�v�ls thereof, ax�d }3orro�vershrsll prqmpAty furc�ish to Lender atl rene�c-nl iiotices s3�d nli`reeeipls of {ania< �re- ,
<br /> � iniums, Iu tl�e eveizt of;2oss, B�rrotivea• sti:tll give protnpt notice to the insurance r;arrier und Lender, and Lende�' j �
<br /> ,,
<br /> � ' ` nnay iz�ukc prnof of loss if uot.mude;prornptly : by �orrower. �; s � -
<br /> �,. L��nless Lender, and Borrn�wer otlrer�vise agree i« tvritin�;, inaurance �3raceeds shtsll t:�e applied to restpratiata or
<br /> repair of f,he Property �iamaged, provided stteh restorntion or repnir is eronomiculiy fenai6Ie iind ilie sccuritv of
<br /> ' ✓ , � , tfzis ��'Eortgnge,is nvt ttiereby impaired: If such restorati�n ar repair is not cconomict�ilv tensiblc or. if the security
<br /> ` ,� of this \lortgage would i�e impAired , the insur�nce proeeeds sl�:�ll lac :�ppliec3 Lc� the sun�s seeured by this A4ortgage, . t
<br /> with t€�e eacaess, if a.ny; paid to Borrower; lf t1ie;Yroi�erty is 'abancioned kiy I3orro�ver or it Borrpwer fails to xes�sond ' �
<br /> to Le�sier within 30 days atter uotice by I,ender , to Borroxer CI��t' tt3e insuratn^e ca�rrier ol�ers to s�ttle tt cl�im for ,
<br /> � insura3ace benefits, .I,ender is suthorized Lo colleci �c.nd npply k3�a insurance proceeds at Let�der's option eithea to
<br /> restoration orrepai.r af the Property or. to the sums secured by this �llart�age.
<br /> � Ll�aless Lender aad 'Borro^sver pthenvise n�ree' iri tivriting, a,xq* such a�S�licution oF proceeds to principal s3�all � •
<br /> , < nat exiEend or postpnne the due date of- the inoiatniu 'xnstullinents referrecl to iu p� ra�rap�s l aitd 2 isereof or cl�tsnge `, -
<br /> , � the a�ount of suclx instuliments:: ` �
<br /> S - i ' If under parap'aph .18 hereot" the Yiroperty is acryuired U,y I:ender, eill a�i�l�t, title t�.nci interest uF $orrower in ' ` *
<br /> w . ` �' and ta any insurunee i7olicie.� and in and to tlia prucceds tl�ereaf { to tl2e ex�ent ot the s�tq�s secured b,y this i1�I�ort-
<br /> gage isntnediately �rior to sueli sttic or acqnisition ) restiliing frorn ' ds�nu�ce to ti�e Yroperty _prior to the sale or
<br /> r � acqnis;tion shall gass to Lendex.. r _ ' i ,
<br /> � 6. Preae:va6oa �d Meriatancmee af Proparty: Leaseholds; Condnminiums. Borrow�r shull lceep the 1'rnp-
<br /> < et-ty in good repair and shall not permit or eommit �vaste, impa.irment, or cieteriorntzoiz uf the Prog�erty and s$�sll
<br /> , � coniply with khe provisions of �ny lease, if this llor�suge is on �t lcasehold: If this �Soriguge is azi .a condominzum
<br /> , � unit, Sorrower ckrttl3 �aerfortt� sll of Burrower's obli�ntivns undtr tlie declar:ttimi of condominium ar rnsster deed,
<br /> p ' the by-laws and reg'ulations of the coudozniniuni ��roject and constituent dacwuents.
<br /> � ,; a - 7. Protection a3 Lander s Seouzity: If Borroaver tails to E>erform the covenunts and agreemei�ts contained in
<br /> . ; this li<ortgage; or if sny actioti or ��roceedirig ie coini3ienced �vl�icli mt�teriully affects T,ender's inter�st in the Prot�- '
<br /> * ' � . ; erty, isacluding, Uut �iot limited to,' eminent donx.iin., insoh-e.nc3•, code, ecifcascecuent, or asrrnngeinents or proc�+ed-
<br /> ° " ' ' ings invoiving u bur�kru�t or decedent, tixen Lender ut Leuder'es optian , upou nutice to Iiorroa�er, �a�ny znske ssich
<br /> ' � ` � appearances, disbuz.;e sucli sua�s and taka suc�z sct,ian ais is necess�ry io paotcct Lender's interesC__ iupluding, �ut
<br /> „ + not licmiEcd to; disksursemen� af raasonat�le attornuy'� fees .�nd entry upo�� the Prope�•ty to niakes , rep�izs. �ny
<br /> ,. " � amouia#s disk�ureed b,y Lender �ursu�nt to this �iara�r�t�ti 7 , tivit3a intere�t tt�ereon; shalI become additioxxa! inaebt, .
<br /> 7 ectnesa:-0f I3orrower �eeured by I,liis tiiort�age. Ur�less I3orrower :�nd I.ezzder agree to otlrer teruis ut payment, such
<br /> � < ' ' amouct#s shal) be ptsy�}�le upon uq6ice frorn Lenc�er t�o i3orrower request.ing 7xayrneuC thti.reof;'snd slaaltbear inter- �
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<br /> 1 ` est fTozn the date of dis�ursement at tk�e rate st�ted in tlie �'ote unleas pay��ent of intesesb at suctr rate would Ue
<br /> � canGrary to applicable lr�w, in rvhicli evei�t such �mounts shall bear inter�yG nt the hagliest rate permissibte by
<br /> ° a 23esbJe law: iVothin contti:ined in this �nra ru ��� 7 sl�aU re uirc� I.cridar to ineur �.n ¢x �ense or do an :uct
<br /> ` PP � S i � I � Y f Y
<br /> � .: ., hereun,der. , .
<br /> 'r, d $:, lxaspaetion. LCirdor niay inakG os cause ta }�e ma�ii�� rea�onnJalc e��L:a•ies upan nnxl inspectiacaa of tl�e ,Pr.oW-
<br /> •r ', ; erby . �s��7vided lhnt Lender shall give `13crrrnH�er not iec ��ricjr la itm• .tA�•1r �n�pcctiori .ne<�ifying rn�con:thlc raztsp
<br />�'j '- � therafar relsted to I.endor's intierest in tlte Yropertc^,
<br /> 9. Gondemsiatimn, . The proceeds of itiny t�xoara'[ or clairn for dan�ages, direct or consequential;; in eonnect�on
<br /> � � � with asy oondetaana#.ion or othei• Lakin� of il�e :Yxo�ierLy; or }�art tiiGmaf; or for cond-eyance iu iieii of condemzi��-
<br /> tio�, s�s hereby,assi�iie� and s3aall be paicl Lo I.eadar. �
<br /> ; x , Tn the event ot a total ta.kin� of the Yropeaty,,tlae �aa•occecia bli� ll l�e ap{>licd io t.he �:�:uns aeeurecL by this Mort- `
<br /> gage, ��'ith the exce�a, if an�s, }said lo $o.rru���e:. I3i L� 3f; eve:it of a ��arti�l tu-l;i�ig oi tl�e �'ropert��, n�ilec� I3orrvQrer � � "J�";
<br /> * , � , .. � : . k . ,.
<br /> and ���sler.44Uerwise agree in �vriti:�g, t1�erQ tihail'be applieci t� 6l�e sui�rs s�cured by t43ie ��ort�xg� such �ro�-ror- „ , ,. ; ,
<br /> �F s txszn xitwt�xe prooeeds as is, equal ta that proporLion wl�ida tiie aiuount of the �uma becured by tliis Aiortg�,ge imxzie- `." T 'o-
<br /> � diatelyF prdqr to ihe .�latn ai talr�t� bea�b 'ta� tl�e fair t�arket vslu� of the I'ra�pesLy ixntvc�isiely priur Lo the dste of
<br /> La?ici�g„ t+�3�h the .�aa)snee.;v# t�kae ;prace,esis �z�id to k3orrcawer, � < <
<br /> ' it �he #?rr�x*ety^ iu ,�k�azsc��sr��i by �?vas*o��ez• er i# -�fter uotice �aY �-ender �o Ha:rar��r that tks co�dcmz�or off.�rs_ ;� x';
<br /> �"� ` " . Ao x�aksee tst� awt�a�d vr set,i.1€ � �lwim fc+r rk�.ana�t+e, $�rrau•e3• inilG tc, ret�l+�a�r3 t'o L,etide.' t�=ithin 30 ds: ys of the dYte
<br /> � of sucla watac�, I:eudEer as aut2iuriaeci ta ctailect and s�lily +�lxe pz Ucxedt st T..euder'a �p4ion eitt�er to rc;stvration oz i °�`
<br />� � : regsax�f the.Prca��ei�y or Lv the auu�s seuured by t,3�'ss �lartgage.
<br /> E U�lesa I,enGl�r �►ud Sua�mwkr o6l��r�vise agree in writiag> any such ap{K3ication of �roceeds tci s�rineival s}iatl
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