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<br />���---� �' If i�nder p�ragi�a��h 1 $ C;ereot i.t�e Yxu� �erty is hoid or tiie Proj �erty �s othc+ ici � ;xc�auirrri Ip}� L��ndcr, l.or�det �
<br />�,� shall ary,ply , no luter Llr:an imnaeda.stely priur to tIu� naiVt ��f tlir Iyru� icrt �' oz it .xa�; ui�niim di}- I ,eneier. ;Lny I�'u:acis
<br />���„+c•�'�. � hel�l t�y �T:A��y'der u� t}�e diii�� iif�. .xpl�licat�ior� ss ,i� erc� iit ag:n�mt tk'�i� �unia �t�ciu�r�� 1 hy this \�T �t"t�;a,��, �
<br />�� e � �� 3. Application of Paymenfs. TJFiIr,::s ;i2 >�;�l�r abli� � ir��a� �oioyi�l� . ot�iier � i ��, ;i� ! p:i}•uicnts r•eceiw�i d � I.v £,,eriilei•
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<br /> i �`�,� � � u�iiciert}ae2Joi,etxndj�� iragi��ijx�Y�5l �nci � � I�e�reof � e6ziilue � a��j�lie�I ,i,r� Lc•ri�3,c�rfis ,t. �i�G��p >2��mc•nt,,ufauioeaaat � � tiyd}�ie�.to� � �
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<br /> Y, � i �� � � + � �, � � - . � � i to the ��ir�n�i3r<til �ii I uLui•c� :��Scun���,, . if :iri� • � � � � � � �
<br /> L�nder I> � ��3o� �ow �x under � � r�a Za� �. i 2li uc�l; tlx,u ,im 3ni� . r• C ia a }a)� ari the 'Vc�tE ��iti, o.a 7uheii�.� Arlt .ut�cos �,
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<br /> a�, an�i t,h�r� ko tl�e �� �iinri ��;l of nc, Iv �h ��n+ �
<br /> 4. Chargas; Liexys. Borrower s7� a11 ��ay ull t �xec ; 3S��ss�uetTts in�i ottier rhrirgi � , }in �s a ,il it7�fiusition< :tttrif�-
<br /> "�� � � opt o�n i� klae nPiun'rier��irvv�ded uncler�is» , �ra� ihoc�l er�tif oi� �b� �;' 73o� roo�cr � ;nakir. q:����ayi3innt.�� �vhe�a , izucr �lire � ��clei•, s
<br /> � � y ]loitg ��.,c;, as,d �r�mid � n�z` s , i. a�t�b , �ct L�
<br /> r '�,'� I 1 � I `' , r,tiv to
<br /> I ,Y; the ' �ayee Ghereof. F3orrower sf�all , nroinpt )y- turnrsL tu T.en�ier :ill notices oi airi�a�r�ts r�ire� ui�dei• tl is p� 'ragrar��i ;
<br /> � ';� aa�d ts� 'the evenk �L3�rrcrw¢c sp3��i11 mak�; ��pu}'wa�ei�t riare �Gly; I3orroi�•< � �hal ( �'��ror>>��C1V;� fur�lisYi to 7 erxt4s� recei�?ts u�!�i-; � � � �
<br /> � denoing such payti�ents. ��i•rower sa��s�t l �ron�r� tiy' ii�scL:ir�n arrv licn wlxicli has lirior.ty ov�r this Alnrtga�e ; pru -
<br /> •, ..�.,
<br /> r•ided , tf�at I3orro�ver sliall trat he recruire�i to flisrli ,ir�;n� ans eucl� li��n sc� -lan�; � 3 ]3u� ro�; es• sLuil agaC�e in writ,ir�� ,t,�,
<br /> - - `" ' ttie paynsent oi tl�e (�bligatioti sec� � rerl I�y su�h tic�i in .ti iii;inncr :iccept;� l�lie t � I.r n�i�r, or :t�z11 ii� g�od iaith 'eontest ,
<br /> . ' � such Len; liy, or� defenii r�xif�rcexu�nt aI 5ur,h lic�a in , le�al l �roce�:el,iii�� �,vliir..h ��� �eiu.te t � p�revent tlic eniiirr,erraeni oi'
<br /> � the lien �r forfniture of the Z'ro�erty �r any piirt ilzereof:
<br /> 5. Hazard Insuranc�. I3orr�����i' �hali kc'ep tlu� iiu5�� ovenie,i�t5 i,oii existin�; 'or her�•nftin� r.y��teil un tki�: Frop-
<br /> � � ' � � es•Cy, insurecl; �gain�;t � l���s by 'hrc, htc�urda inr.luc4ecY �vitt�in � t}ic tePtas '`�xtex�deil cove,r,:kgc , aiid �uch �ttaer haz��rd5 as � � � � � �
<br /> � Le�der ma�� �require �a'nd ir� sufl�ki artio'�.ir,ik5 ac�ti 1'or sncl , �ie� ioJ� as I u nri�i• in �y rcr{ taiiF ; pso�tiriac�l tliri�t I,e��der � slat��ld � � �
<br /> %^ notrequire tliat tti� a�naunt of sueli co�•crti�u excee�l El�.ir, ainour. t o . c,�v.e.r:��;e re��.uiic.ci ta: p:ay +h� siiins sc;curea `h,y
<br /> � this :�1�rrk.gage.
<br /> The ins;u:�nce ca.rrier �rrovidir,g tl�r, n,�ucanc°e s}�etili be cl�useai '.>y }3e�. iv�cer s� tl >jcc,t ku ap�irbval l�y Le�'r.der ;
<br /> � �aro'v��ecl , tyiar, sr.sclr r�p�,unval �I�a91 nvt k�e tix�re�a'soraabJ,y' kvit)q�re:d . ht� y�z'emiums �o,r4 Sn��er'a'n�e po1�Sc�ies hiiatt ,�bP� pai�� � . �
<br /> at T:ed�aer's� b'��tia�n in 't�ae x7aunY�eer �g�a�,ovieicd U�ad,r;r i�aragra,,l�� 2 d�e�rqf" or b�� I3ay�i-t�w��r nt;a,�:in� ��rynaeiz� , �wlaen ri'i�r�: ,
<br /> ciixectly to tlia insutunie cstreiei•.
<br /> � Ii� the evznt nny pnlicy is not ren�wed crn �r befi�re teii days �f its expiration, fhe , Lender, to �ro#:e��
<br /> ` its interesL; iraay �arocure insurance on ttic imi�rovements, pay the premiuzirs ancl si�ch sum shall hecamE
<br /> � iminediaEely due and �ayab)e wit}5 interest: at the rat� set torth in s�id ribte until �aic1 and shali be
<br /> b. sFcuaed ►�y� this I�4ort�age, F�iture l�y E3oriower to corriE>ly n�ay, at option of Lenc3er, constitute a �lefaxilt i
<br /> r under the� te.rms of #hi� Mortgag�.
<br /> ' � � � � t111 Snsur'aiico��J�o� icir.. ;� �� eew�e,n^�1,; tli��re'o,t' wt�,yll G��er ic t,t��rni t�hre �t li � �a i�� l'udc�� h wt�in�i :�r'c��� �
<br /> � I u, lc tc� T.eiycl� r :�iiii , a;xil aa
<br /> � pn��rtgf�be� ela�u;e � n� 'favor �1! :tinc� atr �f�i•txa �� �� e� �t��tlilc: Co Le��c��r. f.ei?�ier slaall I, .�ve �t� la�� rigLt 'to 1 � oJtil , tl'��, poiici�s aiae#, � �
<br /> E � ren'ewals tii'�,raof, ni�il�� �IIorruw��er �ha➢ I ,pr��u�4,1'y�� �furn',isja� �to I.rn�:ier� al ! rr�ae�4eu: »i,rkicea ar��c�' ald recei}�P,�s nt� F,mdl� pt�-� � �
<br /> niiai'ina. In ,�t�ie even�t �qi lr��s�, �3orrorvcr �1�3II �i �c p>ranil:it Pio'4ia� �d�o *, }in, S�npur��ur„e �aarrile�r �rrr2 I.�nF3e'a•, �nc3 b,rn$�� �
<br /> mny inake }7cu�f of lus; ie nut• �nacle pxorul�tly l:,y I3oa-r,o�ve�•.
<br /> ' Unless 'L�n�er <snd F3�rro�y�fi.r o! }iez��vi�e :y�rec; ii� �vritiug, in� ur;inc•e prucccc:3, :;l;all be ���ip'. ieci Lo restoratioci ox '
<br /> � re�tiar oF the'F'ra}�erC,�� tdr�nrs�ed , j�rq��i'e�tii� such� restor.k't 'r�un o'}� Y���t� r ta'� ewbuou: icaNa� t �aaif;li^ ari¢1 kLe s�i;4a�'it>' eit"
<br /> � � this ti[ortga�e is not #�l�eret�y� inipaire�i. IC � �,cl� re�coi;rtioi c�i r�p,i � ic r � oti Weeonorrn;c �� lly� ieeis: l�Je ur ii +,he secutiiy
<br /> �f GtSis \Qqrtgage �vuudd Le iq��i�tneci , th� rnsnrai�pe pi°oeea�3e ,h;ilY e�u yo�pJ ;�P ir� �1�,� sutn> s�Fuie<i b�� 'Ehis '�I�'rt�*u�'��;; � � � �
<br /> � evi�ti' the exe;qs�s, if mr�y; , }�a�ct ��tµ Bn� i•o�i��a•. lf t7�N1'ro�7ex°t,y ia .� P>;zi��,o,�ed hW 'I3�,r�v�,l�ek� � <�; if � 'c�Fro��ti�c�r� j�il� fo resp��rad, �
<br /> � to ',L�ender wit,nin 30 � �3aya sfter �i;ociee 'b� Lend�a�- te� ��qrroF��er �tl,itii tlae� in�uran ;c e3i•r�e�� ad�e�r� tci��s,ct�t!� a Claint � fnr � � � �
<br /> x ineurance benefits, ]:endrr is autlwrizeci t�� colier,t and � N���1y tlic ;nsur;ince pioc�eds ,3t I.encler's �}�ii�n eith�r to
<br /> : rect,oration or rep:sir• af the Pi•c�percy �r tu �,��e �un.� ner-ui•e�i b3� tfiis \Iari:ga�e.
<br /> Yinless L���i�ier ai�d Itur��a�i�ee otherwisr agrEc m �•+.•ii�u�;; ai��' , uch aj���licni'ron c� f p�ro�•er:,?s ta �ariucipa;, shal;
<br /> ;�,�. � n,ot �xtepid o4 suli��sta�llme e � dnte of;� t,h� montl�il � ais � llinea�ts i•c�[�•r�;e<1 td in �i�ragr�p}�is� 1 ai .d � li �� �� � � �
<br /> P b � 3 1 t � ere�f or c;hat��e
<br /> � � the �ainoun� nts. � � �
<br /> rIf under 7raragraph 18 l�ereof 4he Yroperty is acquired by I.ender, :tll rigl�t�, titic and interest, of Borrow�er in � �
<br /> ti and to dny i ��surance j�olicie� 3nd in anc{ t�o t.lu:: procee�a> tl�ereof' I, io tlic exicnt of th� snms secmr.d Pn• thia A4ort-
<br /> � guge irmnediately prioi• to such sale or� acqui�itiuiii re:ultirig iro�n �{�iiuzt�c ti� tiie Yropere�� prior i�c� t,he sale or
<br /> ; acquieif,ion shall pass to Lender. �
<br /> y' 6. Preservation �d Mrrintenance of Property; Leaseholds; Condominiums. 13on•ower shall keep the Prop-
<br /> erty in good repair and shall not periniG or cotniuit waste, icupair�nenl , or deierioration oi the Yropert}� snd sha11
<br /> comply wit1� t�he pro��isions of an5• lease, ii this \Iortgage is nn a lea�ehold . If Ehi� ,l�for;g3ge is on a condominium
<br /> unit, Borrower shall perform all oi Borrowei• 's ohligations :� n�ici the declar,xtion of condominiurn or rnaster deed ,
<br /> the by-laws and regalatioTis of thc condominiuiu liroject :ind cwistituent �iocirments.
<br /> � � 7. Pzotectioa of Lendei s Secuzity. If Sorrower ftiils 20 �ierforii� the co� enants and agreemenis eontained in
<br /> ��� � this �1ort�agc, or if any action or procee�ding is com�nenced ���hich niatcriall} afTects I.emier's interest in tl�e Prop-
<br /> erty, includinS, f>ut uot liinitecl to , eminen � domain , in�oh�ency , cude enforcement , ue ;u•ran �ement� or proeeed -
<br /> itlgs involving � bankrupt or deeedent, then Lender si. Lender's o�,>f�ion , upou nutice t�� 13orro�rer, in;ay make sucL
<br /> appearances, disburse sucli suins and ta�ke such action ;is is nece�sriry to prot.eci Lendur's interesc , including, but
<br /> � not limited to, disbursement of c•easoi;ablc altorney ', fecs and eniry upon tdie i'ro}�ert,; i.o make i•epairs. Ai�,y
<br /> ainounts diel�ursed by Lender �iwsu3ni to thi , �aaragraph i , �citi � interest thereon , sh� il become sdditio��al indebt,-
<br /> ' � edness of Borrower secured by this \lurtg� ge. Uizless I�orro�ver and Leuder agree to otlier terxns of payment-, such
<br /> $. amounts shall be payable upon notice Srom Lender to f3on-o«�er reque.ting pa}�ment thereof, :ind shail Uear inter-
<br /> �� eat from ihe dat�e of disbw•semenf, at, the rute stated in the Notc unle;s y>nyiueut oi int�erest� ;3t such rate wovld he �
<br /> � contrary to applical�le Isw , in which event �uch amoi�nts sLall bcaz� ini.ere:t at tlu> highesf rate pennissible by
<br /> �' � � sspplicable law_ Nothiug contained in this � �arssgr.t��li i shnll re�� uirc Lcnder to incur ain�� expiose or do any act
<br /> hereunder.
<br /> M � 8. Inspeetion. Lender �ritty�� make oz c iuee to Le mii�ic rea�on:iC�lr c�ntrie� upon and in�}�ection� of the Pro}a-
<br /> �� erty, ��rovidec�l tl�at I,ender sl�al : �i�•e 73orroc�•er not ; ce � a�ior ii� an� .:u��l�i in= i�ecti<.�n �� iecifyir3 �* ressonahle. causc
<br /> therefor related to Lendec'� intei•esi in tl�e Propert.y .
<br /> 5. Condemnation. 'I�hc nrorec�cjc �f •in�- rrn• � rrq � ,. �t ., , in,. ;� n �. , � � � . _,; �� �;;,� :,t:ui . >c ot;ucot;�n
<br /> with :iny condemnati�n or other tul:ing ot the Yropertv , oi j,rart tlurcof . ur ! oi r•on� c � ar. r�r n� licti of ��on�leziiizs-
<br /> � tion, are hereby assigned and chall he paid to I,ender.
<br /> � In t.he event of ti t �ct�] t ,iking of the :Yroperty, the ��roc � c� l � �h �ill ! �c a � >��lic�l ro tfie� �wns scciired b} tl�is 1�Sori-
<br /> � gage, ���it�h the escess, if an�, }�aid to Borro�cer. In th�� e��e�nt o( � � �:tirtii�l taking of th<• Yropc� tc, unle�_ }3o:ron-er • ,., �
<br /> ° and Lender otherwise agi•ee in �;�riting, there sliall be applied to tl�c surns secured by this �tari,gage such propox•-
<br /> tion uf the procee3s as is equal to tl�:�t. proportion n�hich the amount oi Che sunis sccured by this b2ortgage imme- � �
<br /> � � diately prior to the cia2e of t �lcing bears to tl�e lr�ir msrket ��alue oI tl�e Yropert�� immediat.ely prior to the date of � �
<br /> taking, with the balance of the proceeds puid to Borrou�er.
<br /> If the Property is abandoned by Borrower or if :ifter notice by Lender to Borrower tlxat the condenuior offers �`»
<br /> to make an a�vard or settle a claim for d.xrnages , 13orron�er fails to respoud to Lender �i•ithin 30 davs of 'c 'rie. date �? '
<br /> nf CI� M1�I n„+;,.� r e .<4er � � -
<br />� - : `hor:icd ' o coPc, � unil �4��iiy tLc� ��ruccc�i, zu Leu�ier = opcian either i.o restorat.ton or �
<br /> repair or' the ProPerty or tn che sum� ticcu. �d hti- t.lii. \ forfga*u.
<br /> ' Unless Lender and Boz•rower otherwise agree in writing, any such a,pplicution of proceeds to priucipal sl�all
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