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<br />� ,h:ill s��pl}•, nu I;iti-r iL.� n iuun� ii,t �_ lr � ninr tn ih� nlr ui ilu � I 'rn, � rrr ur n � � ui -ui . � i , � . � � , r : ir: I '� :i . 1 � .•,
<br /> ' � �;
<br />� < ' hcld b}' Lendcr nt thc titni� ul ;n�pii� iiou .�� :� � , � � ti� .�.:iiii .t iii� �nu � ,� � ��� � ir�� I ni th:s � lur� �; � � . ��,'.�"r'
<br />� r � 9. Anplicalion o( Payments. l'nl� .> ap� ,li� ,ib6 Litr pro�:id� otlu r•,r �>�•. .ill p.i�•nn ni� r� n i � � � ! h�� L��ndcr i��8
<br />� 3
<br /> .,�,�_�,: .� uudcr thc Notc and p;ira.Rrspin 1 :uid 2 hrrcof :h.i! I iu. a� �{ �lir� l I ��• l .eu� lcr furt m p:n� uu�nt of ;uuuunt � pa}^�I�ic to �
<br />��� ''' � ' i.ender I �y liorro�cer under � ir.� ri �h 2 6ercai, t6eu to wicmct � � � ui,le un th� Aoti :uni un I'uturr� :1dti:was, ii
<br />� �� �3 � I b � l � �
<br /> ,,,� � , '' :tny , uu�i tlicn to the princip.il of thc lute and lo tlio �iriur�pai uf I 'ulurc A�i� �u� u, if anp.
<br /> ��;». y�� ^n` � 4. Charges: ►.iens. Borrotrer shall puy all taxes, u��r �sments :uid otli�r � 6i� ges, Gne� ::nd impositious �ttrih-
<br />� �+f'�',�" �, ut:�ble to thc Property �chich map afrain ;i priorilt� ot�u t6is \lortgagc, nnd ground renfs , i ! ;w}', at Leudcr'�
<br /> •; ."`" � optior. in tiie munne:' proeided undcr p.iragraph 2 hercot or liy 13orro�rer mnkin�; payment, lrhen due, directly to
<br /> the pnyce thercot. Borro�rcr �hnll proroptly iurui�li to 7,r. n«cr nll nuficcs uf s:uouuts duc uuder this paragrupL , �
<br /> — d" and in thc event T�orron•cr shali make pa}•ir,ent directiy, 13urrotirci a6,ill pruuip� l}• furuish to 1.cnJer tcceipls evi-
<br /> `"' dencing such pay�ncuts. liorrower shall promptly discharge n��y Iten �shicl� has priority occr tlus \lortgagc ; pro- `
<br /> ' �� vided, that 13orrower sLali not bc required to discl�argc any sucli lic�i so long .is S3orron•er shall agree in «�riting to
<br /> _
<br /> `� tLe pnyment ot the obligntinn necured by� such lieu in n manner acceptuble to I.ender, or ehali in good laitl� conteet
<br /> � such lien Ly, or detend enforcement ot sur.L lien in, Icgal �irucer,dings n�hich operate to precent the entorcement of
<br /> � thc lien or forteiture of tLc Property or any pnrt lhcrcof.
<br /> � 5. Hazard Insuraneo. Borro��•er sLall kecp lhc iu�procen�enis nou• exialin� on c�rcaftcr erected on the Prop-
<br /> � h crty insured aguinst loss by firc, hnznrds included �vithin the tcrm "extended coverage", ;lll(3 SUCII OU1C1' I11Lltf({9 ll5
<br /> � I:ender may require :md in such amounts and for such periods us I,ender muy require ; pro��idcd, that Lender shnll
<br /> " not require that the umotmt o[ such co��crnge exceed thnt amount o( coveragc requimd to p�p the scros secured 'by
<br /> this hloiigage.
<br /> The insurance cnrrier providing ihe in�urnnce shall be chosen by Sorrower sulrjecL to approval Uy I.ender,
<br /> �' pro�•ided , that such approval sl�nl: �ot be unreusonably rvithLcld. :Ul premiums on insurance policics sl�all be paid
<br /> s at Lender's option in tlie muuner pro��ided undcr parngra��{� 2 hereol or by �3orro�ver muking payment, �shen duc,
<br /> ; directly to tLe insurnuce carrier.
<br /> In the event anp policp is not r�newed on or �;etore ten days of its expirution, the Lender, to protect _ . .
<br /> ; its interest, muy procure insuraiuz on tlie impro� emrn�s, pay tlie premiums and such sum shall become
<br /> immediately due nnd payable with inierest a; thr ;ate set forth in said note until paid nnd shall be
<br /> secured by this r4ortgage. Failure by Borrow�er to comply muy, at option of Lender, constitute a default
<br /> under the tenns oI this htortgage.
<br /> All insurance policies and renetrals thcrco( �h:Jl be in fonu acceptablc to Lendcr and �hall includc a �tnndard
<br /> irortgagc clausc in :.^.:•cr of nnd in :onn acccpt�blc io Lcndcr. l.endrr s!iall li::��c ! hc rin!�l to liold tl:c po:icirs :md :
<br /> � renervals thereof, and Borrow•cr �h:ill prompUy furnisl� to Lender nll renc�val noticr; :uid :,fl receipts oi paid pre-
<br /> miums. In the e�•ent of loss, Iiorrcwer s6all gi�•e prmnpt uotice to tlic insurnnec carrier and J.ender, and Lender
<br /> ma}• mnkc proot of loss ii not made prompHy by I3orro�scr.
<br /> Unless Lender and Borroti��cr oll�crn�isc agrcc in �eriting, in�uraucc proceeds �hall be npplied to restoration or
<br /> repair of the I'roperty damaged, procided sucli re<tor�tion or repuir is ecouomically feasible and the securily of
<br /> this Dfortgage is not thereby impnired. If =uch restorntion or rcpnir is not economic;illy tensiblc or it the securiLy
<br /> ot this �Iortgnge «•ould Ue impnired , tLe insurnnce proceeds siiall be :ip�>lie�i ro tiir sums eecured by ti�is �for'tgnge,
<br /> with the excess, it any, pnid to 33orrotiticr. If tl�c YroperLy is ahandoeed by ]3orro�rer or if llurro�scr fnils to reepond
<br /> to I,endet within 30 duys nfter notice by Lender to Borro�cer thnt thc insurance carrier oGers to �ettle a elnim for
<br /> :�.......�..... L���ff� T �;..i�,. i� �+�41�nri�n.1 fn nnllnrf n ��il mud�� Ilin i��ci_�rnnrn ��rnrnrdc ZI. Ln�irinr'c ni tjnn nithar tn . . . . . - .
<br /> � restoration or tepair of U�e Property ar to tL� swns <ecurcd Ly this \Iortgnge.
<br /> Ualess Lcnder and I3arro«�cr otiiern•isc agrce in �vriting, :in}� sur,h upplication oi procceds to principal shsll
<br /> not extend or postpone the due datc of the monthip installments rcicrmd to in pnrngrapLs 1 .md 2 hcreoE or chnng�
<br /> the amount oi such installments.
<br /> If under parugrnpL 18 licrcof the Yroperty is :uquired by Lendcr, nll rigi�t, title und intcrest of Borrower in
<br /> nnd to nny in�urnnce policies nnd in :md to the pruceeds thereof � to the extent o[ the sum� �eeured t>y this Alort-
<br /> gnge immediatel}- prior to such salc or acqui=ilionl rc�ultin{; from damagc to tLc PraperL}• prior to thc s�le or
<br /> ncquisition shnll pass fo Lender.
<br /> 6. Preservaiion mid Mmaten�co oi Propedy: Leasoholds; Condominiums. F3orro�vcr shall l:cep the Prop-
<br /> erty in good repair and sh�ll not permit or commit. a�aste, impainnent , or dMerioralion of thc 1'roper6y mid elinll
<br /> ` comply ieith thc provisione of nn}• lensc, if this .lfortgagc is un a lenscliold. If this \fort�;ngc is on a condominium
<br /> unit, IIorrower si�all per(orrn all of 13erro�cer's obligations under the decfnr;iiion of cmidominium or mnster deed ,
<br /> the by-law•s and mgi�lafions ot the condominium project :u�d canstituent docwnents.
<br /> 7. P:otection ot Lender e Socurity. lf I3orroa•cr fails to perform the covenants and ngrcements contained in
<br /> j this Jlortgnge, or if any netion or proceeding is commenced tichich maieriatly nftects l.ender's interest in the Prop-
<br /> erty, including, but not limited to, eminent domuin, inwl��ency , code cnforcement , ur arruugements or proceed-
<br /> ; inge involving n b�nkrupt or decedent, tlicn Lcndcr ni I.endcr:s option, upon no6icc to I3orrox•er, tnay mskc such
<br /> ! nppearnnces, dis6urFe such sums nnd take sucli aclion :�s is necessnq• to protect Lender's interesl, including, Uut
<br /> not limitej to, diaUursement of rensonnblc attorney'� fee� :�nd entrp upon the Properly to makc repnirs. Any
<br /> nmounts d•.sburscd by Lendcr pucsuant ta this paregraph 7, n•ill� i»tcrest lhcrcou , �hali bccomc additionnl indebtc
<br /> eclness of Borrower Fecured by this �lortgnge. Unless T3orroticer and I,cnder agrec to other tem�s o( payment, such
<br /> { nmounfs ahnll bc payable upon nolicc (rom I.endcr to Burroa•cr reyucsting p�yment t}�ercot, and rhall bcnr intcr-
<br /> est from thc datc of disbursement af the rnte stated in the \otc unlces papment of interest at such rnto «•ould Ue
<br /> contrnry to npplicable Ixn�, in which c�'ent such ;tmounis �hall benr interest al the I�ighest rate permiEsible by
<br /> applicnble Intie. t�'othing cantnined in this pnragrnpli 7 sLnll requirc Lender lo incur any expcnse or do any ncL
<br /> hercundcr.
<br /> 8. Inspection. Lender may tualce or cnu=e to 6e tnndc reaeonnble entrica u�ion nnd inspections of the Prop-
<br /> erly, pca��ided tLnt I.ender ahal] gi��e IIorro«•er notic•e ��rior to ;ui�• =urti in=prctinn �pecif}�in� rca�onnble cnus�
<br /> therefor m:nted to Lender'e intcrest in the Property.
<br /> 9. Condemnation. 'PFIC P70CCC(IS O� i1I1V :RYlli(I Of fI91117 fOf fI1I116�,CS, direct or conscqucntial , in connection
<br /> icith anp eundemnntion or other t�kin� of tGe 2'ropert�� , m• part thercof, m� (or rom•e}•nnce in ]icu o[ condemna-
<br /> . ' tion, nre ::ereby assigncrl atid ehull Le pnid to Lender. _ •-� }c� .'.
<br /> , - ^ In the c�•ent of a total takiug of the 2'roperty, the proceed< Fhall be appliMl to the sums secured b}• this Afort- ,� N �
<br /> ` gage, �cit}t the exccts, if am• , pnid to Tiorro«•cr. In the crent o( a partinl t ;�king of thc Yroperty, unless 13orron�cr �
<br /> � .: L nnd Lender othern•ise agrec in «�riting, therc ehnll be applied to thc r;:ms �ecumd by this \Iortgngc euch propor- �
<br /> � lion oE the proceeds �s is equul to that proportion �chieli [lie nmount of th� �mn� �ecured b}� tLis \fortgage imme- �q -
<br /> T �;r„� diately p!'ior to tLc dale o1 taking bears to ! he fair u!urkcl �•aluc o( the Yropert}� immcdiatcl}� prior to the date o[ n
<br />�r�,-+� taking, �vith the balance o( the proceeds paid tu I3orro«'er. �j
<br /> : .,,, <,
<br />.�...�+ T ^k
<br />••� .�-�. . If the Propertv i: r.bandonrd tip Tlono�:er or ii after notic�e bc Lender tn ROTmtenr tl��r. �I�� ,_�.,.I..�_;.;�� ��r�;;
<br /> c!ww
<br /> �*t.}z, j� to make un aticurd or settic u claim for damages, Borrox•er fuils lo respond to I.endcr x•ithin 30 da}•s of thc dntc
<br /> � it. � of eucL notice, T.ender ie uuthorized to colleM� and appl}- tlie procecd� iU I.ender'� option cilher to resforation or
<br /> ,.�
<br />��ti,:-. -,y rensir oi the Yronerly or ta t6c swns sr.cumd 6r tLu \Inrtrn.���. �
<br />�'�:�_:' U;;�esa Lc::d^: :..:;? no. . .. .. _. oN:^. .. ..., _ .., .. :it� .,,...�, , • � • � • � � �.
<br />�i+ ,�.; P.'r.',:L'^ :)ti, : i;j eu :.yj..ii.o�ivii O� i�ivC22i�� �J jiiiiiiijiia cun�� �
<br /> i�i'..r'_J :.jy ��
<br />�.� ' ;,� _ _ �.. ,. � �
<br /> - - Y=_:� -
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