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<br /> � If under paragrYph IS 4ereof the Yroperiy i, sold or the Property is otlierw� iee acyuired I�y I .ender, Lender
<br /> ahall apply, no later tl�an immediutely prior tu tlic e�le ut' tl �c Yro� �e rt}• ur its� acyui�,ition f ,y I .euder . :tny Fwids
<br /> held by Lender at ahe time of application us a credit ugain.t tLe suui. =ec•iur+ f h}• thi. 'vlortgage.
<br /> �, A�fplieatiou of Payaa�nb. Unle�s a��plicahic la�c �ri•ovi�ie� otherwi-:e , all payu�entn recei��ed by I.ender
<br /> under the h'ote snd parsgrspLs 1 and 2 hereof �l�xll I re sy>plied hy J.ender first in �iayment of amounte payable to
<br /> Lender by Borrower under paragrnpl� 2 hereof, then to internst payxbte on the \Tota und on Futum Advances, if
<br /> 8ny, sud ti►� to the Irrincipai of tfie Note and to the principal of Future Acivancce , if any.
<br /> � �. d14e�w Liw. Borrowrtr r.l�sll i�ey a�l tsxes , aeaesetnents aiul other charges , fines and im�Ositions attrib-
<br /> � ut�bl� to W�e Propesty which msy attein a priatity nver tlau Viortgage, and grouaid rents, if any , at Lendet's
<br /> � optios ia the uunnar provided under paragra{�h 2 fureof or by 13orrower �naking f>ayment , when due, directly to
<br /> � the pnyee theneol. Borrower ehall promptly furnish to I.ender all notices ot amoimts due under tl�ia paragrsph,
<br /> � snd ia the eveet Borrower shall inske payment directly , BorroN•er s6a11 prorn}�ily furnisli to I.ender receipts evi-
<br /> O denainy eueli psymmt�. Horrower s4a11 promptly �lischurge �n�• lien which has priority over this 3iortgage ; pro-
<br /> � vided, thst Borrower shsll not be reyuired to di�ccLarge an�� sucl� lien so long a� Horrower sl�all agree in writing to
<br /> , _ the psyment of tMe obligation seeured by euch lien iu :a manner acceptable to I.ender, ur shnl l iu good fsith contest
<br /> ouoh lian i�y, wr defend enforcement of sucl� lien in , legal prceeedingn w{�ich operatc to prevent the entorcement of
<br /> ^ ' the lien or tosieitura of the Property or any �.art thereof.
<br /> ' S�. HazaQd Io�usaoe�. Borrower shall kee� � the improrements now �•xr- ; iug or hereaiter erected on the Prop-
<br /> � erty itfqured sgsinet loes by fire, haxsrds included within the term "e�cten,'�•� ' roverbge", and such ut6er hatsrde as
<br /> I.endermay require and in such amounts anci for such period � ati Lender n ; ;.� rec{uire : provided , that I,ender ehall
<br /> not raquire tl�aL Lhe amount of such coverage exceed ttiut amom�r of coverage myuireci to pay the sume secured 'by
<br /> thia Mort�e.
<br /> 1'he ineurance carrier pmviding the insurauce �hall be chosen t��� Burruwer sul,ject to approval by L.ender ;
<br /> ptovided, that such appmval ehall »ot 6e unreasonsbly withkield. All premiums on insurance policies ei�sll be psid
<br /> at I.ender's option in the manner provided under paragraph 3 hereof or by I3orrower making payment, when due,
<br /> direeWy to the insurance c4mer.
<br /> In the ev�t any policy ic not renewed oa or before ten days of its expiration, the Lender, to �otect
<br /> its iatereet, tnay procure ie►�unnce on the improvements, pey the premiume and such sum ehall become
<br /> iaar►sediately due and payable with intereat at the rate set forth in said note until paid and �hall be
<br /> aecurred by thie M�st�e. Failure by Borrower to comply mey, at option of Lender, constitute a default
<br /> uadee ths t�ra+s of thir Mort�sge.
<br /> Al! ineurance �olieies and renewala tl�ereof Nhall ��e in fonn acce}>table to T.rnder and s4�all include a standerd
<br /> inort�a;e clauee in fsvor of snd in fonn acceptable to I.ender. I.ender ehall have tl�r right to l�old tbe }wlicies and
<br /> renaw�aL thereOf, and Bornower ehall prwnptly furniali to Lender all renewal notices and all reotipts of paid pre-
<br /> miumr. In tlfe event of lose, Borrower s6a11 give pron�pt uotice to the iusurance carrier and Lender, and Lender
<br /> may malce proof of lasc ii not made pron�ptiy by Borrower.
<br /> LJn1eN L+ender and Borrower otherwie5e agree in writing, insurunee Nroceeds shall be appliec{ to rertoreLion ar
<br /> ' repaiT of the Froperty damaged , provided such restoration or repair ia econouiicully Seasible und the eecurity af
<br /> t�6ia Motttye ie not thereby impaired. If sucL restorntiuu ur repair is uot ecunamicxll�� feasible or if the beourity
<br /> of t�ti� 1Moet�e would be impsit�ed, the ineurauce ��roceeds shall Ix: applie�i to the suu�s secured by thir Moet�t�e,
<br /> w�it6 tLe eX�aes, if qt►y, paid to Borrower. If the Yro�aerty is aban�loneci by Borrower or if Borrower isile to �eepond "
<br /> dO Le�dee wif,hia 30 days after notice by Lei3der to Borrower that che insur$nce carrier offers to settle a elaim ftu
<br /> ' iqqst�atu+o beneSta, Leader ie auLhoriaed W collecL an�d ap{�ly the inaurence proceeds nt Lender's option eithet to
<br /> e�edeeatim oa repair of the Property or to the sums secured Ly tLis �Iortga�e.
<br /> CTalw Lender and Borrower ot6erwise agree in writing , anv such spplication oi proceeds to principal �hall
<br /> aot erst�nd ot po�tpot►e the due date of the �nontl►!y iY�stsll�ne�te referred to in paregrsphe 1 snd 2 hereof or els�n�e
<br /> tJM nnourt of �uoh i�talJmeuts-
<br /> ' Ii usdar para�raph 18 hereof the Ymperty ic aoquired by Lender, sll right, tiLle and intereet af Borro�v�r in
<br /> aad t,A apy iosuranae polioiee and ia snd to the prooeed� tl�ereof (to the eztent ot the suma secured by t6is Atort-
<br /> p�e imtaedirltely ptior to eueh csle or aeyuisitionl ree�ulti►�{; fru�n da�uage to tiie Yroperty prior ta the ea�e or
<br /> aequiwtioc sluil pa� to Lewder.
<br /> t Rw�+�ea e�d Mi�l�emro� eE ptep�eiy: Lw6e4ls: Cosde�m�ms. I3orrower shall keep the Pmp-
<br /> ettq itf �ood repur ind slull not pers�it or commit waete , impsimient, or det�rioration o( the Property and ah�l!
<br /> oomply rith the proviaions of any lea�e, if this \fortgage is on a teasehold . If thi� 3iortgrge ie on s coadominium
<br /> usit, Borroret shsll pertor�tn all of Botrower'a obligationa under the declaratiou of condominium or master deed ,
<br /> tbs by-laws snd teQulations of the coudominium ��roject and constituenc documents.
<br /> 7. �qbdtias d Lnd�s's 5�a�uit�. If Sorrower faile to perform the eovenants and u�reements contaiaed in
<br /> thi� Mottp�e, or if any sction or proe�edine is commenced which nisterie!!y sSects I.ender'a intere�t in the Psep-
<br /> �Ey, i�ludiai, but not limited to, eeninent daiuin, innoh•ency, codr entorce�i�rnt , or arrsngements or prooeed-
<br /> ie�t �votvias s baai[eupt or deoedeat, then Lender at I.ender'K option, u{wn notice to Borrower, may m�lce suoh
<br /> ; appMsaaxa, di�twrae Quch eume snd t�lce auch action as is necesssry to prot�t Lender'e inter�t, iacludioo4, but
<br /> � so6 ii�il�d ba, dMbwrreroea�t of re�sane�ble sttoeney 's fees and ee�try upon the Pr�ert,y to make rq�it+s. Any
<br /> i a�eooael� d,j�buerad 6y I.eoder purauant to this para`rspl� 7, wiW� interest thareon , shall beooaie additiooal iadebt-
<br /> �de� o! 84asowee aeeuted by this Mottp�e. Unkss Barrower and I.ender a��ee to e�ther tenn� of psyment, such
<br /> . �me�mb shsN be psyabie upon notioe fran Lender to Borrower requeeting psyment thereof, and shsll bear inter-
<br /> � erE frao the date of di�burresxat at the nte rtated ia tbe I�Sote unless payment ot intee�ert at wch nte w�onki be
<br /> epaEsary f,p applieable Lw, in whieh event euch amounte shsll bear interest at the highest nte permi�sihLe by
<br /> ` �1R3�IIj0 IaN. NOU'!1[Ie CPI1GI1tlCl� in tliie ��ara�raph 7 shnll rnquim [.ender to incur any ezpenae or do sny sct
<br /> t iKwlwd�r.
<br /> ' E. �eliaa. l.ender +nay mske or �ava� to �.c� mn�ic rexaonRhlo �ntries uron an.i inxpeMicm++ of hhe Prep-
<br /> r eetg, provWed tlut I.ender shatl pve Borrosver nntire ��rior to any ezurh ins�etioi+ xpec+fying res�onable eawe
<br /> � lMMnlior e+daR�d to Gesder's �+eN. iw the Propeety.
<br /> �, Ce�iw�NM. The proeeeds of eny aw�snl or c4sien for damages, direct or ooneequentul , in oanseetion
<br /> � � a� o�rrd�a�a� ar ad� t�i� ot tNe i'�r�esty , or �►art thereof, or for coe�•eysnoe in liea e[ oondenms- �
<br /> � aie.. ,ee �«.�� ..�;�a .�.a .a.s� r,� w+e � r�r.
<br /> 3 Ia tLe aveat o[ s tota! tak� ef tlwe P��erty, tl�e pco�eeds et�a11 t�e appiiwi to the eums �ecured by th� Mat-
<br /> a.'s ., - j MM�. wikh tbt eaooe�s, if sa}', gwd to DOirs�ow�'. Ia tJtie event of a pa:tiaf talcing of t3�e Fra�erty, unicas Boerowe: " :S
<br /> +�MI�-�e � a�pMe i� �r�, kl�aee duli he appiied to tbe aunsa oeeuead bv this !ttwtsa�e weh pa�oQ�ee- 'p�`
<br /> „ � ti�a�at �MtlwM�elMBs �as is a4rl 1ie t�t perpneEios �ie4t t1�e amewnt af the rnmc eeeured by tha Moetp{e ienee- � �` ;'�
<br /> y . . t�.+�r p�ia� � tL. a.t. of e.l�i.� 6a�n to cir. r.is a�s�tet valme of t�e PrapertY ��+�Y P� to the �be d
<br /> � tarRi�i„ arl�'�t� Ad tlse � pm,id LD Bn�er.
<br /> y `M1t' '
<br /> .: � #� �"�� b� !lcrsow'et ar if after notiee bT Lender to Se�ower thst t�e condcmnor olfere ` � ,
<br /> w ��°� �'M�e a eMir Mr a.s.IMla. B�essrar ss+�. co �pesd 4o I.enal�r withi�+ 8o aay. af the a.Ee .,. ?�"
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<br /> ' '� rl�,.. ' � �`�Ndrr iR M�IMeIri M �1e1�-ati a��N1�r tie �seseic st i.arde�'s aption eithcr w zestorat+on a� .
<br /> ., al �14r 3�r�ly �r M itn rMrrs ��i i! iYis lta�p�e.
<br /> 'ilU1�iI1M. �AM� �+Id �wMa +MMe�! � i� �i. �! �+ 4�P�+� af peomed� to princiQai ��ll
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