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<br /> If under pt�ragraph 18 hereot th� Yro�xrty i, �uld or rl�e I'ropert �� i., utf�eru�i .�� u�•yuired Iry Lender . Lender �
<br /> .hall uPPlY . uo later tl�xn imrurdiau:ly � �rior to thc ral�� o( tlu� Yr<�� �rrt }� ur it = aryui�ition h�• L.� n� ier . any Funda
<br /> held by Lender at thc time of application as s credic akain�t rlic . uw� �o�•um� l In� thi , A1ortKu�o .
<br /> 3. Applieatioa o! Pay��nts. LJnles upplie�ble Is�� pruvi� le. utherwi..�• , ;� II p:�ynuriits recei� ed by Lender
<br /> under the Note and paragrap6s 1 and '2 hereof al ,xll h�� u� ,� ilied I �y Lcud�•r tir�t in payment uf anwunt� payable to
<br /> Lender by Borrower under l�aragrapli 2 I �ereof , theu tu interest � �uyuble un tlic Vote an�1 an FutuAc Advxnces, if
<br /> any, and then to the principal of th�� Note and to the � �rin�° i��al of F'ulure Ad ��an�•r•• , if any .
<br /> � �. Gharg�ar Li�as. Borrower shall pay all taxes , xssessmentn xnd ut6er c6arges , fines and impositions attrib-
<br /> uWtble to the Property which may attaiu a priority over this �iortg��c , und ground rentn , if any , at Lender's
<br /> option in the manaer provided under paragraph 2 hereof or by Borrower making � �ayment , when due, directly to
<br /> the psyee thereof. Borrower Ehall promptl�� furnisl, to Lendcr all noiices of amounts �iuc �inder this paragraph ,
<br /> and in the event Borrower shall �nake pa,ytnent direclly , Sorru�eer ,hall proru� ith� iurnish t:o Lender receipts evi-
<br /> dencing eucl� payments. Borrower shali promptly discl�arge auy lien which han priority over this �lortgage ; pro-
<br /> vided, that Borrower shall not be required to discharge any� �url � lieu so IOII(7, 3s liorro�yer eiiall agree in writing to
<br /> the payment of the obligation securecl by euch lien in x manner acceptable to Lender, or sliall in gcwci faith conteet
<br /> auch lien by , or defend enforcement of sucti lic:ii in , legal � �rocci�di�i�.= �ti� liicl � ope�ate• to prevent the enforcement of
<br /> the lien or forfeiture of the Yropert.y or su}� � >art thereof.
<br /> "'� 5. Hasard Insuraae�. Rorrower shall keep tlic inyuo�•ement � nu�� exi�tiuR or Lereafter erected on the Prop-
<br /> �� erty insured against loss by fire, l�azards included within the term "extended coverage ", and such otiier {�azxrds as
<br /> � I.ender may require and in �uch amouut, aud fur ,ucli � �erio�l� u� l.ender mu�• reyuire : pro�•ided , that I,ender shsll
<br /> L not require tliut the amount of such co��erage exceed tliat a�nouut of roverage reyuire�i tu pay the eums secured 'by
<br /> �- this Mortgage.
<br /> The insurance carrier providing tl�c iusurancc �hall be chose� i bt' Borru�v��r sut �ject to appro��al by Lender ;
<br /> ^ provided , that sucl� approval shall not be unreasonubly withheld . All premiums on insurance policies ahall be paid
<br /> ^ at Lender's uption in the mauner Enovided un.ier paragruph P I �ereol or by Borro�� er n»kink puyment , when due,
<br /> directly to the insurance carrier.
<br /> In the event any policy is not renewed on or before ten days of its expiration, the Lender, to protect
<br /> its interest, may procure ineurance on the improvementa, pay the premiums and such sum shall become
<br /> imtnediately due and payable with interest at the rate set forth in i;aid note until paid and shall be
<br /> secured by this Mortgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br /> under the tern�s uf thix Mortgage.
<br /> All insurance }wliciee and renewalr tt�ereoi shall he in loriu ac�ci�E�txble to Lru� ier ;ind � h.tll include a �tandard
<br /> inortgage clause in favor of und in fortn acoeptable to I�.ender. I .encier �hall lia��e the right to hold the po�icie� and
<br /> renewals thereof, and Sorrower shall promptlr furnish to Lrudrr :ill renewal notices nnd all receipte of paid pre-
<br /> miums. In the event of loss, Borrower shull bi ��e ��rompt iiotice tu thc� insurance currier snd I.ender, and Lender
<br /> may make proof ot loss if not made promptly Ly Aorrow•er.
<br /> Unlees Lender und Borrower ot6erwise agree iu writiug . in�urau�•c �,roceeds shall be apNlied to restoration or
<br /> repair of the Yroperty damaged , provide�l such restorutiuu or r�q �eir is �conu� ui�;� l1�� fr.�sible and the aecurity of
<br /> this Mottgage is not thereby impaired . It rucl � restor:uiuu or repair is not ecu�wuiicall�• feseible or if tl�e security
<br /> of thie \fortgage would be impaired , tlie i�isuraucr � �ro��er.i, �liull Li• apE � lied tu th�• . u�us secured by this rfortgsge,
<br /> with the excess, if any, paid to Barrower. ! f the Yroperty i, ahan�luned b}• 13otrou�i•r ur if Borrower fails to respond
<br /> W Lender within 30 days after notice by I .rnder to Bon•o� er tLut thc insurauce carrier uflen; to settle a claim for
<br /> inrurance benefits, I.ender is suthorized to collect and appl�� tl�e insurxnce proceeds at l.ender's option either to
<br /> resWcation or repair of the Yroperty ur to tLe sums secured I,}� tlii� \lort,gage.
<br /> Uale�s Lender and Borrower otherwiee agree in writiug, auy sucli application of proceeds to principal shall
<br /> not extend or postpone the due dste of the wonthly in:�talln�ems referred to in paragraphs ] and '2 l�ereof or change
<br /> t6e amouat of such inetallments.
<br /> If under paragraph 18 hereof the Yroperty is acquired l,y Lender, all right , titde and interert of Borrower in
<br /> and toany insurance pulic�eti und m an�i to the �1I'OCPPIjri tl�ereof ita tlu• exteut uf the �um� �cured by this '_�Iort-
<br /> gsee immediately priur co cuch eale or acqui�itiuni re�ultin�: lrutn dauiiiKc to ihc Yroper�y prior to the sale or
<br /> acquioition shall pass to Lender.
<br /> i. Pr�s�rvatioa mtd Mmnnf�e� o! Prop�rty; Iwas�holds; Condominiums. Borrower shall keep the Yrop-
<br /> etty in good repair and shall not permit or cotnmit waste , impairuient , ur ��eterioration of the Yroperty and shall
<br /> comply with the pro�•isions ot any lease , ii thi� \lortgage ia uu a leasekiold . I ( thia '�lortga6e is on a condominium
<br /> unit, Borrower shull perforru all of Borrower'� obligYtion, under tt�e declarxuon uf condominium or master deed,
<br /> the by-laws and regulations ot the condominiuw � �roject unii �•ouetituent documents.
<br /> 7. Proteetiam of I.�ndsi s S�eurity. If Borrower fail� tu perPorm the covenant. and a�;reements contained in
<br /> thie Alortgsge, or if any action or proceeding is conuuenced ���hi<�h � nuteriallv sH'ects Lender 's interest in the Prop-
<br /> erty , including, but not limited to, eminent domaiu , in.ohf�ni•y , code �•ntorcen�eut , ur 3rraugement, or proceed-
<br /> ings involving a bankrupt or decedent , then Lender ut ] xndrr'� option , upon uotice to Borrower, may malce such
<br /> appesrsnces, disburse �cuch swns and take sucfi action as is nece�eary to protect Lender'n interest, including, but
<br /> not limited to, d�sbursemrnt of reasonable attorney 'a iee, and entry upon the Yroperty to make repairs. Any
<br /> sa�ount� diabursed by I,ender pursuant to this parngraph 7 . �vitli interest thercon , shall becon�e additional indebt-
<br /> edneee of Borro�ver eecured by this �iortgage. Unless BorrowPr and l,ender agree to otlier tr. rm� of payment , such
<br /> amonntr shall be payable u}wn notice froen Lender to BorroHer requesting payment thereof , and shall besr inter-
<br /> ert from the date of disbursement at the rate �tated in the Note unless E�avment of interest at such rate would be
<br /> contnry to applicable law , in which event such amoimts siiell bear interest at the 'r;igheat rate permiesible by
<br /> app:icable law . !Vothing rontaine�l in thi� �iaragrapli i �hall rc•quirc Lrnder tu iucur unv expense or do any act
<br /> hereunder.
<br /> !. �Ctioa. Lender mat' wake or oau�r tu ho wu� t.• rea�uuabl� �•ut rie� upun auil in�Nectione uf the Prop-
<br /> erty , provided that I.rnder .hall git�r Rorrowc�r notirr nrior � u :in �' - u �•li in .� u�rtl��n .� ���rifvinL rex.onnf�l� �suc�
<br /> t6erefor related to Lender'e interest in the Propert�� .
<br /> '. Cosd�matiea. Tht proceed�s of yny aµ•arci or cfai�n for cis�nages , direct or consequentisl , in connection
<br /> with any condenmation or other takinQ of the Yro��ertc . or � �art tl �en�cif , or (or ruu �•Fvan�r in lieu of condemna-
<br /> tioa, are hereby assigned and ahall 1>e psid to I.ender.
<br /> In the event of a total taking ot the Pmperty , the �>roceeds sliall bi� applied to thr .u�ns secured hy this :b1ort - . �
<br /> ga�e, with the e�ccess, if any , paid to Borrower. In the eveirt of a � isrtial taking of t.he Yro�x•rty , unless Borrower '' '
<br /> and Leeder other�vise agree in writing, therr sl�all be applied tu tl�e suins secured by thi� \lort�age such propor- ��
<br /> � tion of the prooeeds ss ia equal to that proponion which tl�e aluount oi the eums �;ecured by thir �lortgage imme- rt � ',�
<br /> diately prior to the date of talcin� bears to tLe fair marlcet value o[ tlie Yropert}� immediatelp prior to the date of ,�; '
<br /> tf�, �rith tLe bsdawae of the proceeds paid to Borrower.
<br /> If �e Prq�e�ty is at►sr+�ior!•�! hy Botrow�er �r it ref<e- no� kc h}- !_er.cier ! a Borzczre: tf:at the cor..iciunor offera
<br /> Uf tualte ia rward or eetUP d olaim f�r desmwg� Rorrowrr t� ii� � � �rcj,�>>�{ t �� I :ender within 30 da�•s o1 thc datc
<br /> uf w�ok astiee, Lender ie suth�ed to collect and ap��l�• t6e prooerd� xt L.�»der'� uption eithrr tu rr�toration ur "
<br /> +ep�ir of t�he Property or to the suine seeured by tLis \ tortgsge.
<br /> Uni[ae Lender and Bornoaer othenvise agree in writing, any such application of proceeds co �uiucipal sha11
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