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<br /> � � . . _ � . . , . � �, � � � ! ' � u � ,� � i � �: � , r ii - :v ��iui� uinn in� L� �n� l�•r. :uic Pund�
<br /> �� i � � . , � � i �.� � ..� �� . � � : i . l ;, � i� � � : � , :: � i � . u,si � i � i u .� � uin � � � �rum� i L �� ihi� :� Inr� �;:�t��.
<br />� 9 . i�pplicc�(ion o} Paymenfs. [ ' nic� - :y �pii � ;� lii�� ia ,c � n ��ri� j� � oilirrwi�r, ull p;n•iu�nts rrrrivcd bY Leudr,r
<br /> w;d� r � In '� ui � :� mi � �,� rnFr:y,ii� I :uul ': ii� � � ui �hsll ix a�,� � li� � i L}' Lrudrr tii:�t in pa}'ment o( :uuounts pnynblc to
<br />� � l .em � ,,� i,y� 3inrro�rrr nnricr � �;u;i�;�:�pli '� iu� r��ui, ih���� iu iu� errr� � �acai�lr ou tl�e �' oic nu�l un l�ulnre Ad��:uues, if �
<br /> :iny , nnd then to Uie �u�incip:il oi thi� \otc :wd tu iiir � n'ini•ipni uf I�ntnrc Ad�•.�nccs , il �uy.
<br /> � 4. Charges; Lieas. 13orron•er �hnll pn}� all L•ixcs, nsnctsinent , :ind ather chargcs , fines nnd impositions aLlrib-
<br /> utable to the Yropertp r;hicli ma�' athiin a prioritti• avr��• tlii� �Sor!guge, an�i ;;ruw!d r�a�!s, i! au�, at Lender's
<br />„ n �;��. option in thc mauner prnvidcd uudcr p:irngraph 2 hcrco( or 6�� llorro���er mal;iug ��aymcut , tehen duc, directly to
<br /> ar.�• n��� ��:C j)P.�=� 1 {:P."�Q�. r.24::C1�:t :-�:�:� j;:.^.::)jt!�� (:IC:::.`:�: �O J.C.^.(�:.I' 1.�� ::C..C.F, CI SI:iCUP:,^, ::uC iiiniC� iiiii �iR166'Iri�lll�
<br />��.''"�`i and in the event Borro�rcr sh.il ( makc pn}�menl directly, 13orro�rcr shull prumptl�� fur��ieh to ].cnder rcr,eipis evi-
<br /> 4 '�'; C�j denaing sur6 puyments. 13orro�F�r sLnll promptly discliar�c :uiy licn tivhich ha� prioritl• over ti�is \tortguge ; �;ro-
<br /> + C�; vided, thnt 13orroncr shnll not bc required to disch:irgc .un• �ucl. licu w long as I3orroiscr slinll agrec in n•riting to
<br /> , .:
<br /> L, [i�e pnyment ol the obligation secured by such licn in ai mnuncr ncceptable to I.ender, or sLsll in good taith contest
<br /> CL� such lien by, or defeud enforcemcnt of such licu in . lceal inrocecdin�s �vhich oncrate io orc�•enL thr. r.nfor�.�m�„r �{
<br /> : L,; ihe lien or forfciture ot thc Propert}• m� ��np part titicrcof. �
<br /> r; 5. Hazard Insurar.ce. I3orro:rer ::hal1 l;ec�i the improt�e�uents uo�r cxi:liug ur liereu(lcr erected on the Prop-
<br /> � crty insured agninst tocs by fire, I�azards included witLii� the tenn "extended covcragc", und such othcr haznrds ns
<br /> � I.ender �nay require and in such nmounis aud for �uch peri�d� nn Lendcr map mquire ; provided, tLat I.ender ehnit
<br /> not require thut tLe nmount of such coverage exceed that :unomil of coeernge requitr.d to pay the sums secured 'by
<br /> this �4ortgage.
<br /> The insurance carrier pro��iding t6e i�uurance �hull be chosen by� I3orrotieer suLjecl to approeal by Lendcr ;
<br /> proviucd, iiiut eucL upprovul �fixli nu't uc w�ru�wnuiily �citiiiielu. :�il premiums on insuranee nolir.Sc:s tiV�nli hr na;�1
<br /> at Lender's option in thc mam�er pro�•ided under pnrngraph '1 hcreot or by Borro�rcr uu�l:ing payment, x�hen duc,
<br /> direct:y to the insurnnce cnrrier.
<br /> In the event any policy is not renewed on or before ten dnv5 of its expiration, ihe LenJer, io protect '
<br /> its interest, may procure insurance on the improvements, pay ine premiums nnd sudi sum shal! liecome �
<br /> immediately due nnd payablc with interest nt the rate set, torth in said note until puid nnd shall Ue
<br /> secured bv this nfortgage. Failure by Borrower to comply muy, at option of I.endar, constitute a default
<br /> � under the tenns ot thie Murtgage.
<br /> All insuranee policies and reuewals thercot e?�all be iu f9i717 :tCCI'f1f:ll)IC (O LCII(�C[ ;ltll� �hull include a standurrl
<br /> , mortgnge clauee in lavor of nnd iu for�u acecptable to I.ender. I.endeC EIIAII Ilfl�'C !hc right to 6old thc policics and
<br /> renewals thereof, tmd 13orrou�er Ehnll promptly furnish to I.cnder alt renen�nl noticc, aud ull receipts of paid pre-
<br /> miums. In the event oi lose, Borrorver sliall git�e prmnpL notice to tLe insurance carrier and Lender, and I.ender
<br /> ruay make proot of loss if not madc promptly Ly I3orro���cr.
<br /> Lr�i�e6"a I.iTi�ii 8Dd Lcrro�;er othern�ise agrce in ;�TIi]ii�,� IIi5U1:�t}CC �il0cieif� e�lu�� �)C II�7�]�ICU [O TCSlO(A110R OI' �
<br /> repair ot tl�e Property dnmaged , pro�•ided such re�ioration or repair is ecm�omir,�lly ieu�ible and tlie eccurity of '
<br /> this ASortgngc is not thereby impnired. If such restoration a• repair ie not cconomically fcusiblc m• if tt�c security
<br /> of this \fortgnge uould be +mpaired, tLe insurar.ce proceeds sliall be applicd to the swns secured by fhis 1lortgage,
<br /> • with .he excess, if any, paid lo I3orrower. If U;c Yropert}• is �banduned by liorron�er or i( I3otro��•er (ails to respond
<br /> , to Lender «�itLin 30 days a[ter notice by Lcnder to 23orrou•cr that thc insurnnce carricr offcrs to settic a claim for
<br /> ineurnnce benefits, I,ender is authorized to collect and apply� the insur.u�ce proceeds nt Lender's option eifher to
<br /> restorntion or repair of tl�e ProperLy or to the sums secured by this \fortg:igc.
<br /> Unless Lender and 33orron•cr othenri�e ngrce in �sriting, nny sucL application of procceds to principal sLall
<br /> not extend or postpone the duc dnte of the montlilp installments reicrred to in parngrapLs 1 and 2 hereof or chnnge
<br /> the amount of such installments.
<br /> If under pnrngrnpl� ] 8 hcreof thc Yroperty is acquircd by Lender, all right, fi.lc nnd intcrest o! Borrowcr in
<br /> rnd to any insurunce policies and in and fo the procecds thereoi (to thc extent ot t6c nums secured by thi= :1fort-
<br /> gnge immediutely prior to such 4alc or acquieitionl re-ulting from damagc lo tLc Yropert�• prior to tlic �ale or
<br /> acquisition shall pass to Lender.
<br /> 6. Preservalion �md Mainton�ca oi Propedy; Leaseholda; Condominiums. Borroi�•er s6all keep the Prop-
<br /> crty in good repair nnd ehall not. permit ^• �:�mmit tic:�stc, impainnent , or detcrioratiou ot thc Property and sLall
<br /> complp �ciq� the ;.:o� isimie of any lease, ii this �IOi�68�'C 15 UII :l ICiSCIlOIII. I ( tI115 \fortgage is on a co��dominium
<br /> ; unit, Borrower shalf perfonn nll of Borro�ver's obligntion, under tLc declaration ui condominium or mnster decd ,
<br /> the Ly-laa�s and mgulr.tions of ihe condominium project nnd ��onstituent doc�nnent�.
<br /> 7. Protedion oI Lender's Seeurity. I ( I3orroti�•er iails to �:erform thc covenants and agrccrt:ents cont�incd in
<br /> this \fortgage, ur i( nny acfion or procceding is conuocneed �shich mnterially n(iccls Ler. der'� interest in the Prop-
<br /> erty, including, but not limited to, eminent domain , insol �•enc}• , code enforcement, or arrnngements or proceed-
<br /> , ings involving n Uankrunt or decedent, then Lender nt I,ender's option , upon nolice to i3orroticer, may mnke sueL
<br /> appcarunces, disbursc such sums :�nd takc such �ction ns is nece«ary fo prolect Lendcr's intcre;t, including, but
<br /> not limited to, diebursement of rensonnble attorney's fec� and enlr}• upon thC Property tc make repairs. Any
<br /> amounts diEburecd bp Lendcr pursuunt to this p�ragrapli 7, �rith intcrest thcrcon, shall becomc additional indcbt-
<br /> edne:s oi ?3orrowcr secured by this \fortgngc. Unless I3orro�cer nnd f.endcr agrec to otLer tennr of payment, such
<br /> amounts �hall be payable upon noticc Irom I.ender to I3orro�ecr rcyiiesting pu}�ment tl�crcot, and sliall bear inter-
<br /> ; est from the dnte of disbcreement at the rnte statcd in thc ::otc unlc�s p:q�ment of ir,tcrest nt such rate �.ould bc
<br /> , contrnry to applicaUlc ln«•, in �chich crent, such amounts �hnll benr interest at the higlicst rate permissible 6y
<br /> npplicnblc la�c. \'uthing containcd in thi� parugra�;h 7 shall require ].ender to incur nny cxpense or da any act
<br /> hereunder.
<br /> }� ; 8. Inspeetion. I.ender may make ar cuuse to hc wndc rea�nnnble entries upon nnct in�pections of the Prop-
<br /> erLy, pro�•ided thut Lender �I�nll gice I3orro�cer notice ��rim• to sny -u� h inspr.rtion �periirin� rensonable cause
<br /> thcrefor relnted t,� Lender's interest in thc Yroperty.
<br /> � ~ � 9. Condemnation. The proceeds af �ny a«�nrd or rl�im far dnmage;, direct or con=equcntial, in cmmection
<br /> . .� �vith nny condetnuation or other tnking uf the Yropertc, or part thereof, or for con�•r:J;ince in licu ot condemna- �
<br /> , ;�? tion, are herc},y a�signc�l and ahnll bc pnid to I,cndcr. . ; - �y; .
<br /> „3 In the ecent o( n total tnking o( the Pmperty. the proceed� �hall I�e npplied to the =tuns securcd bt• this \fort - ' - . �E�
<br /> �; gnge, «•ith the exce�s, if nn�• , psid to Dorru•s�e:. In tLe crent o( a partia! taking of the Property, unlr.�s Borroa•er � �
<br /> '�` ~ '` und Lendr.r uthenciee agrcc in «�riting, tlicre =h:i11 bc ;q�plicri to tl�c �uiu� tccumd by tfii� \Iortgagc such propar-
<br /> � �? l, tion of tLe proceeds as is equal to that proportion �vhich thc amounl of the �utn< <ccured bp this \furtgngc imme- :�
<br /> ,x�., �
<br /> �.�'�� dintel� prior to thc dntc of taking bcan: to thc fair markef calue uf Uie Yroperiy immedint��h• prior to thc datc of �"
<br /> < • -�M. �
<br /> w� ;'.� taking, �cith fl�e h�lnncc of thc praceeds paid ta Burro�cen �
<br /> ' - if the Prener6e is uLandoned bv Ilorroiccr or ii ait.rr nnt.��.c 6�� i.rndrr tn Hnrrnn•rr thnt Ghn rnndmm�nr n6a�� ' �'� � � � �
<br />�t�t".-;T .. _ . . _ . . . _ _ _. . _ --- , - --- — � �
<br /> r�; to mnke an a�vnn3 or settic u clnim for Jamagc=, Rorrol� ir fnil� to icsuond to Lcndcr « �Unn 30 dnys oi the dnte
<br /> a � •- � of such noticc Ltndcr is ' � � � •�•� •� ���,�,� + �•� � �-�� �•
<br /> �� , authonzed to col:c. ...... _..... . .... .. . ... � r t � + -�_ ,,..� ., i.,,_ . ,, _.._� ___, :-- „-
<br /> , � _. . - --�- - - _;_..... _._.._. _.. . .... ... ...,.,., ,,. —
<br /> repair of the Pruperty or to thc swns secured by this \(or� �;a�e.
<br />�"°�T+� Unlcs; I,ender :a�d T3orru:�•cr otiicrn•isc agrec iu �critiug, uny auch application ot proccede to priucipal ;hall
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