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<br /> g, , � ,` ` deueing . uch � �ny �nuit =. Ruiroirer ch � il �iicmp� l � di�� li :u �,� inc lien � Inch h i-� pi �nrd �� o��er thi� Alurtq:,ge ; pro-
<br />�;�.,�c.r�,:��.�w�: vided, that 13orro�cer shall not be required to disch:u��c an}• su� h lieu �o long ae liorrotver shall agree in writing to
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<br /> `��," ^"�,`cr��, the payment of tLu obligation eccured bp :ucL lir.n in a m;umer acceptable to I.ender, or �hall in �ood faitl� contest
<br /> r. such lien by, or defend enforcen�ent of such lien in , legal proceedings �rhich operate to prevent Uie eutorcement of
<br />��;.
<br />"^z� the iien or iorfeiiure o[ thc Proper6y or uny p:�rl lhcrcoL
<br /> 5, Hazard Insurance. Borrower shall kcep thc impro�•emenls non� existing on c�rcaftcr crected on tiie Pcop-
<br /> ' ert� insured neninst loss by fire, haznrds included within il�c term "extended coverage", :�nd sucL otLer l:azards as
<br /> Lender tnay requirc esnd isi sucli amou:its ail:d tor such 1�erio�ls us I;cr.der mny require ; provided, t!ial Lender eh¢lI
<br /> F not require Lhnt the amount ot euch co��ernge excced U�at amount of coveruge required fo pay tLe sums secured 'by
<br /> i t6is A4ortgage.
<br /> The msurnnce cnrrier providing the iusurauce shnll be chosen by Borrowcr subject to approvul by Leodet;
<br /> provided, kl�nt eucli approva! eLall not be untearonaUly �vithl�eld. All premiums on insurnnr.c policics �I�all bc puid
<br /> . at I.ender's option in t!�c manner provided undcr parngraph 2 hcrco( or by I3orron•cr mnking p�yment, when due,
<br /> directly to the insurance cnrrier.
<br /> Tn the event any policy is not renewed on or hefore ten days of its expirutian, the Lender, to protect
<br /> its interes 't, mny procure insuruncc• on the improveinent�, puy the pre�i�iunis and such sum nhali become �
<br /> immediutely �ue and payable with intcrest at the rate set forth in snid nute uniii paid nnd shuil be
<br /> secured by this Mortgage. Failure Uy Borrower to comply mny, nt option of Lender, conRtitute n default
<br /> under the terms of ihis N:ortgage.
<br /> All insurnncc policies and reucwals therco( ehall be in form acceptable to J.endcr and nhall include a standnrd
<br /> morlgage clnu�e in favor o[ and in form acceptable to I.endee I.ender shall ha�•e thc right tu hold thc policics nnd
<br /> ` renewals thereof, and IIorroticer e}iall prompUy furnish to l.ender all renetivnt noticrs und ull receipts of puid pre-
<br /> miums. In tiic event of loss, Borron�er shall giee proinp6 noticc to iLe insurancc cnrrier snd I.ender, und I.euder
<br /> mny make proot of loas if not made promptty by Borrox�cr.
<br /> Unless Lcnder and Borrotieer othc��eise agrcc in «�riting, insw•:uicc procceds el�all bc upplied to restorntion or
<br /> repuir of the Yroperty dmm�ged , pro�•ided sucL restoration or repair is economicallp fcaeible and the securi�y o[
<br /> � � this \Iortguge is not thereby impnired. If such restorr�tion or repair is not economicatly feusible or if the security
<br /> of this \fortgage «�ould be impaired; thc insurancc procecds shall be applicd to thc sums secured by tl�is 13ortgoge,
<br /> with the excess, ii any, paid to Borrorti�er. If thc Yropert�• is abandmicd by Borron•cr or if Aorrower fuils to respond
<br /> to Lender witLin 30 dnys a(ter noticc by Lendcr to I3orra«•er that thc insurnncc cnrrier offers to eettle n clnim for
<br /> inaurnnce benefits, I,ender is authorized to collect nnd apply ihc insurance proceeds at I.ender's option either to
<br /> restorntion qr repuir of the Property or to thc sums secured bp this \lorigagc.
<br /> Unless Lender und Borrower othencise agrec in ���riting, any such npplicntio�i of proeeeds to principal shul)
<br /> not extend or postponc thc due dntc of thc montlily instatlments reterred to in paragrnphs 1 and 2 hereof or change
<br /> �1... ...........t ..f ���..h :...+� 11..,....�.
<br /> � V �.f under pamgraph 78 hereof thc Yropert}• is acqui:ed by I.endcr, all right, tiUe and interest o[ Borrower in
<br />� and Lo an� ir.su:cncc policies ::nd in a.^.d to t!:e proceeds tl:creof (to tl:c ex!er.t of the sums securc�± b�• tliis \Iort-
<br /> gage immediately prior to Such snlc or lcqui�ition ) resulting from damage to the Property prior to thc salc or
<br /> acquisition ehnll pnes to Lendcr.
<br /> 6. PreservaGon �d Mmatenanco oi Properly; Leasoholds; Condominiums. 13orroticer shall kecp the Prop-
<br /> ' QO er4y in good repnir nnd slinll not pennit or cammif ti��astc, impninnent, or �ietcrioration of thc Properly and ehnll
<br /> CrJ comply «�ith tlic pro��isions of any Icase, ii this \iorlgngc is on a lenschold. If this \Iortgnge is ou a condominium
<br /> CJ unit, Borro�vcr ehall pertorm all of Dorron•crs obligntions undcr the dednrntion o( condominium or mastcr deed,
<br /> CD the by-law•s nnd regulations of the condominium project and conatiluent documents.
<br /> O 7. Proteetion oi Londei s Socurity. If Borrower fails to perform the co�•enants ar.d agreements contuined in
<br /> - O this \fortgnge, or if any action or proceeding is commet�ced c:hich mnlerialh• nfiects I.ender'k interest in the Prop-
<br /> crty, inoluding, but noL limited to, eminent domniu , in,ol�•cnc}•, code enforcement , or arrauigements or proceed-
<br /> t� inea involvine n bankruot or decedent, then Lender nt I.ender's option, upon notice to I3orro�cer, may cnnke such
<br /> � (� nppeernnces, di�Lurse such sums nnd take such action ns is nece�sar}� to protect Lender's interest , including, but
<br /> 1 not limited to, diebursement of rensonnble attorney's fces and enLry upon the Property to cnakc repoirs. Any
<br /> amounts disbursed by Lendcr pursunnt to this parngraph i, �vith inlcrest thcrcon, shall become ndditional indebtc
<br /> edness of IIorrower secured by this �lortgage. Unless Borro���cr and I,ender agrcc to other tenns of puymcnt, such
<br /> amounts shnll bc payable upon noticc from Lendcr to 33orrotiecr requcsting pnyment thcrwf, nnd shatf benr inter-
<br /> estlrom the dute of disbursement nt thc rate stated in the \ote unless pa,yment of interest nt such rate would be
<br /> cont.rury to applicable ]arv, in which cacnt such amounts s6nll bc:tr intezest at thc highest ratc permissible by
<br /> � applicnUle law•. ?ioiLing contninc�i in ihis pnragraph 7 sl�all rcquire Lender to incur anp expense or do nny nci
<br /> lie-eundcr.
<br /> ` B. Inspaetion. Lendcr may mnke or eau�c to I�c m�dc ren�miablc entrics upon and inspections of the Prop-
<br /> erty, provided Uiat Lender �hall give Borro�cer notire prior to anp �urh in�pr.ctiou specifti•ing rea�onabte enuse
<br /> ' 'f" ± therefor related to Lender's intcrest in thc Propert}�.
<br /> i9. Condomnatioa. The proceeds o( uny nrsarct or clnim for damnges, direct or con=eyuential , in connection
<br /> ; ��h an� car,der.:natien e: ctF.:: :a!:ir.e of thc ?'roper,�, �; pa:t thereot, or for com�cyance in licu of condemnn-
<br /> tion, nre hereby assi�cd nnd ehnll be pnid to I,ender.
<br /> �� In the event of n totnl taking of tlic Yroperty, the procccds �hall 6c upplied to thc swn� secured b. thi� Sfort- n _ '�
<br /> ' goge, lcith thr, exeess, it uny, paid lo ]3orro�cer. ln the evenf of a pnrtial taking of the Property, uuless Borroa•er , _ ""�...f"' �'
<br /> � nnd Lendcr acheneisc n�rcc in a•riting, thcrc el�all be npplicd to the eums �ccured by this \tortgngc such propor- ` ev� .
<br /> "' '� tion of the proceeds ns is equal to that praportion �cLich the amount of the sums secw•ed Ly lhis �fortgnge imme- �
<br /> j�,�� � diately prior to the dtile o( tnking benrs to ilic fair markct cfilue of Uie Yropertc immedintelp prior to khe dntc oi �� . :.
<br /> `���p taking, tvith thC hnlancc of thc procecds pnid to I�orrowcr. �
<br /> �es-,� d if th� Property is nl�2ndoned by I3orro,cer or i ( after notice hy I,ender to Barroa•er thnt the condemnor o�ers ��
<br /> '�'<'��;. : to mnkc an awanl or settle a claim for dnmagcs, I3orro�ccr fnils to respond to I.endcr n•itLin 30 dnys ct the dnte !n
<br /> �",; .!`; of such notice, Lender is authorized to collcct and np��lp the procceJ� nt Lender'� option rither to restomtion or
<br /> ';�� ��=� repair of ihe Property or to the smns eecured hy tl�ie \Iort �age.
<br /> • :�.-.�,:
<br />��`",��`r�;�-� L'nless Lender and Borrotiti�er othern•ise egree in �rriting, uny cuch application ot procceds to principal shall
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