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<br /> If under para�rupL 18 hereof tiir Pro� mrtv in s� d� l or rii�� Pro��crt �� i ; orh� • r�si .�• :� ryuired h�� Lcu�ier . l .ender
<br /> ,hall apply , no lat.er ttuin im�r�eciiately � irior �u rh�� ,slc of tlu� Yru�x�rc �� ur �tr .ir� � ui, � tiun h�� Lcu�ier . :uiv l�uuds
<br /> held by Lender .�t the timc of a} >pli��•a[ion s. a erc� tit a�;ain.t tlie � uu �� -� �vun �� l 1 , �� this \ iutt�;a�;o-
<br /> 3. Application o( Paymente. Unlrs= u� �plioitl , lr L•i�� � uv��i� lo., uthcr�ri��• , all ��ayuicnt , r��cei ��r�l bti• Lender
<br /> underthe Note .tnd paragrupLs 1 und 2 hereoC .li :ill h�� :lp� �lie� l h}• L�•n� i��r lir.t iu � �uy� u�i�nt uf sniounts E�aynble to
<br /> Lender by Borrower under ��airagraph '2 h�reof, thi�u tu int �•re.t � r.i ��shli� un rlu.� '.�o1r uu� l on F�iium Ad�� anc��e , if
<br /> any, and then tu the princi��ial oi t6e !�otc :ind to tl � c �irin �•i � ,:il uf I�uturr A� 1 ��;inri�s , if anv .
<br /> 4. Chargoa; Liens. Aorrower �I�all pu�• ali taxe�, sssc.es�uent , uu�i uthu c6argo lu�c., �nd imposition� attrib-
<br /> � utable to the Property which may utcxin a 4�rioiit� uve� tlii, \tortga�;e , ai.d grouu�i ii•nt . ii auy , ac I.ender's
<br /> � option in the inanner provided under paragraph > }iereoi o� I �y Liorra�vc•r mlkinR puynxnt , �chen ,i�,E� . �isr��ciy to
<br /> o:�n payee thereof. Borrc�wer Fhz311 promptl�� furu�sh to Lencier uli uotiee. of anwuut� du�� under this paragraph ,
<br /> �.v and ;n the event Borrower sliull makc� puyn�enl directly . liorruticiv ..liull � irumptly iucr, ish to I .eu�ler receipts evi-
<br /> � dencing sucl� paymeuts. Borrower el�ull � �rom� nly �li�cliurge :uiy lie•u wl�ich lis:: � u•i�n�in� occr this \ lurtgage ; pro-
<br /> � vided, that Borrower shall not br requimd to diecliurki• .����� ,w•! : lieu �o loug a. 13urro�ccr .hflll agr�•c in writing to
<br /> � the paytnent of the obligat�ion secure� l liy� ;uch lieii iu u ivaruier ncce� �table to Lendrr, or �1itt11 in �;oo�l faith contest
<br /> such lien by , or defend enforceinent oi .ueh lien � n . Irgal � , n,c�•edink� ��� lii �• i, cip��r;ste� to � �re��ent the eniurcement of
<br /> � the lien or forfeitnre uf ttie Yropert�� or un�� � �arc t licreoi.
<br /> � 5. Hazard Iasuzaaee. Borru�cer -1 ,a11 keep tlio iiu � �r� � �-oin�nts nu��� � ai � iiu �� ur lier��stt�� r ��re��ted on the Yrop-
<br /> erty insured against loss hy fire, hazard� includeil ���ithiu th�• term " extende�i <•overage " . ;in�i ;ur1 � �ither hazurds a�
<br /> Lender may requirc and in �uc6 euuouuts an�1 [ur e��oli � ,.. rio� l * u� Lco� ler iiia� rrr�uire : � �ru� i� ie� l . that Lender shall
<br /> not require that the amowit ��t ::uch ��o�a�rii��• cxree�l rLut aniuunt uf ruv�•rvgr rrynire, ] to � >r��• the aucns secured 'b,y
<br /> this Mortgage.
<br /> The insurance currier � �rovi�ling tlie iusurauc�• - 1iu11 br ��I �osru I ��- }iurrux��-r , � ilijr,rt to aE�� , ruval by I:ender :
<br /> provided , thut sucli ap��rovai ehall noc be unreseonttf� h� �vithlield . :111 premiu�ns un insm��uce� � �olicics .6a11 be paid
<br /> at I.ender's option in the �nunner � ,ru�� idrd under � �:ir:�gr:�� � ti _> Iiereof ur tn� Itorrim� cr uiul: iu �; � ,a}�iueut , «�heu due .
<br /> direcWy to the insurance carrier.
<br /> In the event any policy is not renewed on or before ten da��s of its rxpiration, the Lender, to protect
<br /> ite interest, may procure insurance on the improvement.+, pay the premiurns and suc•h tium shall become
<br /> immediately due and payable with uiierest at the ratE tiet forth in said note until paid and Shall be
<br /> secured by this htortgage. Failure b�• Borruwer to cumply ma}• , at aption of I,ender, constitute a default
<br /> under the terms of this Mortgage.
<br /> All innurance po�icie� :�nd renewal, tlicreot �I � ;ill h� � iu iorni :�er��� �� ;ll � l � � t � � L� •url�• r u � ni .L:sl ! in�• ludo ei st3udari�
<br /> murtgage el�use in la�'ur uf aud in iorni :u•ce� �tabl�� t .� L��n� l� r. L� �u� icr .h:tfl Lan th.• ri �;lu tu Lol � { tlic � iolicie, :wd
<br /> renewttlti thereof, :tnd Borro�+�er �la�ll ��roni� �tlti' furn �.li to Lemicr .tll reui•�cyl noticr� un �l all reci•i� �ts of paid pre-
<br /> �niums. In the event uf loss, liurro�cer ,h�il gi ��e � �rompt notico tu � h � � i � i-� u�au�•�� currier an�l Leu�er, and Lender
<br /> may make proof of loss if not ma�le ��roiuE�tly I,}� Borrouer.
<br /> Unless I.ender and Borrower other�ciee ygrce in �critin�; . iu.. uraui�<� � �ruree�i, ,�Visll he ���pliea tu restorxtiun or
<br /> repair of the Yruperty da�naged . pro�•idrd such re.toratiun ur r�qusir i> i�runoiui �•:� II }� fea.,if� le ;u ��l the .ecuritv of'
<br /> this �lortgage is not thereL} iwE,aired . Ii .,ucl � r�•,tor:itiu ❑ ur rcE �uir i. nut �•oun� nii�:tlh' Ic:asiblr or if the security
<br /> of this 1lortgsge would be impaired , the insw•�nee � iroree�ls ,h:�ll I �� � ;i� i� i � ie, l tu cl �� � �uw; secured by this blortgage ,
<br /> wit6 Lhe excess, if anY, Paicl to Borrow•er. II the Propert�� i, ul �au� {unerl i,y 13orro�vi�r ur if 1�3orrower fails to respond
<br /> to Lender within 30 duya ufter not.iee by Lendr, r tu Borro« rr rhut � he insurance carrier ut'1'ers ro .etile a claim for
<br /> ineurance benefits, Lender ie autliori�ed Co collect uud appl�• � I � i• insurunce �nvci�e�Je ut l ,ender's option either to
<br /> restoration or repair of the Pro��erty ur to tl�e �wu� secured f ,}� t lii� Alortgagc•.
<br /> Unless Lender �nd Borrow�er ot.herw� iec sgreo� iu writiug , auy su�• h :a} �plicxtiou u� y�roceede to principal shall
<br /> not extend or postpone the due date of tlie inonthl�� ins[alliuents relermd to iu paragraph, 1 aind 2 hereof or change
<br /> the amount ot such inatallments.
<br /> If under paragraph 18 hereol the Yropert�� is acquired by Lendr,� . :� Il rigl�t , title and interesL ot Borrower in
<br /> and to any insurance policies tind in :�nd to the pro�•er�l, tlirrcut itu tViv .rxl �•ut of tlu• swus �e�•ured b�� thi, D1ort -
<br /> gage immediatel�� �irior to ..uch �alo ur ac� � ui�itiaii m�ultin� iruui � IauiaR�• tu � lic Yro� �ert � � �riur tu the nale or
<br /> ucquisition shall pasr to Lender.
<br /> 6. Ps�ssrvation �d Mmabnaace of Propsrty; I.sasoholds; Condomiaiuxx�. liurro«�er .hal ! keep tlie Yrop-
<br /> etty in good repair and shall not perrnit or oommit �saste, impsinuent , ur � le�tcriorat�on ut the Yroperty and shsl!
<br /> comply with the pro��isions ot any lease, ii thi� \ lur[ gage i- un :i liasehol� l . IC Hi �, �iurtguge is on s condominium
<br /> unit, Borrower sliall perfonu all of Borrower 's ubli�ation� uuder thc deolar;uiuu uf cun� iominium or master deed ,
<br /> the by-Iaws and regulations of tlic condoniiuiuiu � �ru; � rt ;ii << 1 � unetirurnt �iocum�•nt � .
<br /> 7. Protsction o! 7wader's Sseurity. If Horrower iuil� � u � �erform th�� o�ivenants and aRrcenicnts contnined in
<br /> this �lottgage, or if an,y actimi or proceedin�; is con �u � encrd �vhi��li wsteriall�� :�Pf��•t. Lender's interest in t.he Prop-
<br /> erty, including, hut not ] imited ta euiinent dou�:�in . iu .ul � �•uc�• . rrnir �•uiurc�•we�nt . ur :irrauge�iients ur proceed -
<br /> inge involvi�g a bankrupt or decedent , then Lender at l .cu� lcr :� uption , u�>uu nutii��� tu liorrower, niav make 5uch
<br /> appearances, disburee suct� ,wns xnd take such xction as i= ne�•essary to }�rutect l ,ender 'e interest , including, b�t
<br /> not limited to, disbursetnent of reason�ble attorne,y '� iee.� �ud entry upon th� Yroperty t.o uiske repairs. An,y
<br /> amounts diebursed by Lender pursuant to t}iie puragrapl� 7 , �vith interest thereon . �6s11 become addit�ional indebt-
<br /> edneae of Borrower sewred by this \lortgage. Unless BorroN•er � nd I ,ender agree to other terrns of payment , such
<br /> amounts shall be payable upon notice trom Lender to Horruwer reyuesting payment thereof , and shall bear inter-
<br /> eat from the date of diebursement xt the rate stated in the Note unlesE pssyme�ri oi interest ut such rate would be
<br /> conttary ;o spplic�ble 1$w� , in which event .uch umountc s6xll bear interest �tt the l�ighest. rate permise�ible by
<br /> apPlicable law. Nothinq containcxi in thic � �:;rugrapL i shail r��i�uirc I ,ender to inc� r any expense or do any act
<br /> hereunder.
<br /> 8. Lfltp�c6ots. Lender inxy �nak�� ur vau=�• Io I ��� nuui� • r��H�iinahl� • ontri��, ni �„n ,uui in.� ,rclion . „f tl�� Pro�• -
<br /> ertY, Provided that Lender �hall gi��e Horrower noci �•e � n �or iu :�n �• .urli in.� �e�i•tion �� re��ifyin� rFaconahle osuse
<br /> therefor related to Lender's interest in the Propert�•.
<br /> 9. Cond�mnatioaf. The proceedc of uny award or <� lairn tor damage� , direot or con: �rquential , in connection
<br /> with any condemnstion or other taking oi tlie Yro��crty , ur � �art thercof . or tor � •ou��rvanr�� in lieu of' �ondemnn-
<br /> tion, are hereby sesignrd and e;hall be paid to Lender. 4
<br /> In the event of a total tal:ing ol thr Yroperty , the pruei�e� i � .iiall bo ;t� ,� �lie•d tu tl �e .iin�= .e�•ured b�� t,hiw '�7ort -
<br /> ga�e, with the excese , if any , paid to Aorru�rer. lu tl�e event of a partial taking oi the Yro�x•rt}• , unleee Borrowrr s
<br /> und Lender otherwiee agree in writing, there shall be api>licri to tlir �uu„ recunvi by thi. \lurtgage �uch propor- k
<br /> � tion of the pr+oceeds ae is equal to that proportion which t6e amuunt u! the �ums x�•ured by- this '�iortgage imme- ,
<br /> distely prior to the dati of taking bears to the [sir warket �•alue uf tl�e 1'rupert} immediately � �rior tn thr date of ,� '
<br /> tskiag, with the Maian.r �f t hP I�r�Pr.�< ��;ti�! to Ror!rov��c: .
<br /> If the Prnperty iN abandonwi hy kormwrr �,�• if �ii ter nor � r�, b�• I .cn �.ler ! u liorro�rc• t !:at t !�c coi :�ic�i:nar offcr::
<br /> to make an award ot settle a claim for dawages , Borrower iails tu res��ond to l.euder w it6in :ip �la��n u[ the datF
<br /> of ruch notice, I.ender is authorised to collect e�nd a}i� �ly the pr«�c�i� sst Lendrr '� uptiun �•rther io rr�toratiuu or "
<br /> repais of the Property or to the suma secured by U�ie \IortRaRe.
<br /> Unless l.eader and ►iorrower othenvise agree in writing, any suc6 application of proc:eeds to priucipal shall
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