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<br /> If underparagraph 18 hereof thc F'ro� �trrt } i, .old ur � hr Proprrtr i : „� i ��� ���.;.�� :�. �, �, ; ���•, : i„� 1 .����.i��� . i.E���te,�
<br /> shsll apply , no later tluiu iunnediutely � �rior to th�• .al�• oi tho Yroprrt }• ur rt . u�•yui.itinn I �y L��mio-� r. au�� F'undn
<br /> I�eld by Len�ler at the tiiue of ap��licutiou a� a �•rrdit again.t t h�• .• uni.. .�•oum� { h� thi. \lurc �;u�;�� .
<br /> �. AjfplieatioII o! PQyqt�at�. LTnle.y ;t� �� �licablr la�c � iro��ii1 ��, utlier��' irc , ull �uiynicntr receir��d by- Lender
<br /> under the '_Qote und puragraplls 1 :ind 2 her�•o1' shall I �c up� �lic� 1 h�• Leu� i� r tir=t in �iss}• incni uf uuiount . payuble to
<br /> Lender by Borrower under ��aragrupli 2 licreof , theu to intrrest � �x}•:ik �le uu tlic \ote and on Futur<• :�dvanoes , if
<br /> any, anc'. then co the principal ul tl�e tiot�� an�i to the ��riucipail uf Futw•c A�i�• ancea , il' sny .
<br /> �. Charg�s; Li�nr. Borrower sl�all pa�• all tuxes , assessmentn ;tnd otlier chtirgr, , fines and imponitiuns attrib-
<br /> utpble to the PruperEy whicL inay attsin a priority ovcr chi:, �Iortgage , 3u�i grouud re�it, , if u�ry , at Lender's �
<br /> option in the �zianner provided under paragrai�h Y hcreof or I ��� liorrower makin� � r�y�nent , «�hen �Iue , directly to
<br /> the payee chereof. Borrower shall ��romptl�� turnisli ro I,Nn. i�� r all notices of umounts duc under this paragraph ,
<br /> and in the event Borrou�er nhall makc liav�nent direetl}• , 13urro�c�v �liall � uuw� uly iurnish to I,ender receipts evi -
<br /> dencing such p�yments . Borrow•er shall ��romptly di�charge ;Au}� lieu �vhich I�ar � � riurity o�•er this \Lortgage ; pro-
<br /> vided, that Borrower shall nut be require�i to diecLar�;e uu� ,ucli licn so long us Borro�+•er �I �atl agree in writing to
<br /> the payment of khe obligation secured tiy �uch lien in :� muuner nu�•e�ituble to Leniicr, or �hall in good (aith contest
<br /> 11 aueh lien by, or defend enforcement oi .�ucli licu in , legal i � ruceeding, �� I,irt � o� �er;at�• io } �n�� ent the eniorcement of
<br /> � the lien or forfeiture of the Property or uuy ��ssrt t i �creof.
<br /> � S. Hasard Iosuraaco. Borrower = hall kee� � rlu• ini �� ro��einents no�c ��xi�ting or hereaafter erected on the Prop-
<br /> � erty insared agair�st, loss by fire , hazard , inc�luded withiu the term "exkended coverage " . :lnd sucl� utLer hsszards as
<br /> ^�,,,,'r Lender ttiay require and in �uch umouucs and for ,ucl � � ,erio.l� u� Lrnrler ui:iy r��r� , iirc �. liro�� i� le� i , that I.ender shall
<br /> � not require tl�at the amomit uf such co�• erage exeeed tLui au ,o�int oY ��or��rage rryuired �u pay the sums secured 'by
<br /> � this '.�Iortgage.
<br /> ►� The insurance carrier � u•u��iding tlic iu.uruuce shalt i�i• rho;en h� Borru�ser ,ui, ; ec� to a� �� � ro��ai by Lender ;
<br /> 1� provided , that sucL approval shall not V �e wireasonab] }• �cit.hheld . _111 premiuma ui � insurtiner pvlicies �hall be paid
<br /> at Lender's opt �on in the manner ��ro�� i�ir� l un�i �• r � �.u�ugr.� �ili " herei�t or I �}� 13orru�scr �u:�kiug � ,a�� nient , when due ,
<br /> directly to the insurance carrier.
<br /> In the event an,y policy is not rrnewed on or before ten days of its expiration, the Lender, to protect
<br /> its interest, may prtu�ure insurance on the improvements, pay the premium� and Such sam shall become
<br /> immediately due and payable with interest. at the ratr set forth in said note until paicl and Shall be
<br /> �ecured by this Mortgage. Failure by Borrower to comply may, at option of Lrnder, constitute a default
<br /> under the terme of khie Mortgage.
<br /> All in�urnnee polic�ie� xnd CPIIPK'MI� � liereul �lisll I �r in iorni aoei•� �tubl� � ru Lr�i� li •r a � id �hall iui•] u�le u �kandard
<br /> mortgage clauee in i"avor oi and �n 1'onu s�<•e� nabl� tu Leu� ler. Lrnder �iiall hKve t h�• ri�;li� tu hoW the � �olicies .ind
<br /> renewals thereof, and Borrower shall prauptl}� lurnish to Len � icr all renewal notice, un�l ull recei� �t� of paid pre-
<br /> miums. in the eventui loss , 13urrower �hall gi � �• � n•mn��t ��uncr � u tlu� in�urauce currier snd l .ender, and I.ender
<br /> may inake proof of los� ii not iriade pro�uptly 1 �}• liorro�cer .
<br /> Unless Lender and Borroaer otLer�ci�e ugree in �vritiu�; , i � �.ur:iu�•�• � uocce.l� .�hall be upplied tu restm•ation or
<br /> repair of the Yroperty darnuged . �,i•o�� ided �uch re.rur:�tiuu ur ro� � ;iir i � o�•uuuiui�:ilh• ira� ihl�• :tnd the securit}• of
<br /> thie Mortgage is not tl�ereby impaired. If .<uch rr�tor:itiun ur repair i� not ��i�o��uniic;� ll�• fe:tsible or if the seeurity
<br /> of this 1lortgage would be impaired , the ineuraucr � �roceeds .h;sll I �o u� �� ilie� ! to tl�o sums secured by this Mortgage ,
<br /> with the excess , if uny , paid to Borruwer. lf ttie }'ropert �• � � shauduued h}� }3orro�� cr or ii 13urro�cer fails to respond
<br /> to Lender within 30 daye 3fter i�otice f�y Leuder tu liorrow er i l�ut thc iusurxnce carrier ut7er.: to settle a claim for
<br /> insurance benefits, Lender is authorized to cullec� und 3p{il �• thc insurancr proceeds xt Lender's option either to
<br /> restoration or repair of the Yroperty ur to the Sum� secured i,�- � liis \lortgagc.
<br /> Unlees Lender and 13orrower otherwise agree in writiug, sirc sucli s� �E�licatio�� oi' proceeds to principal shsll
<br /> not extend or postpone the due date ot the �nuntl�ly instal6uruts referred to iu pxrsgraphs 1 and '2 l�ereof or change
<br /> the amount of such inetsllments.
<br /> If uader parsgrnph 18 hereoi t6e Yroperty is acquired b�• l,ender . ;ill rigl�t , title eind iiiterest of Borrower in
<br /> and W at�y insurance policies xnd i�i an�l to t6e proceed� tLemof i to tlu� exteut ui th�� siirne secured by tl�is :11ort -
<br /> gsge immedintely prior tu nuch sal�• or ucyuisitio�ii re,uhin�; irwu � iaiva�;e � u tlu� Yropert}' �n•ior to the sale or
<br /> acquisition shall pasa to Lender.
<br /> i. Pru�rration md Mmat�amies ot Prop�tly: Lear�holda; Condominiums. lion•ower .l�ull keep the Prop-
<br /> etty in good repair and shall not � �ertrut or �•otwuit u uste . i � n��ainnent , ur � i��trrioraciou uf the Yroperty and shall
<br /> comply with the ��ro� isions of uny lease , if thi: \ lurtgage �� ��u a loasel,u6i . If thi� \lartgage i, ou u condominium
<br /> unit, Borrower shall perfor�u sll ot Borrow�cr ', obhgation� un� i ��r t he � leclarntiou uY rai ��.iominium ur master deed ,
<br /> the by-laws and regulations of tlir condoniiniwu � � roje��t un� ! � �ouscituent docu ��ienis.
<br /> 7. Ptot�elieea o! I.pider's S�curity. If I3orroaer i�il� r u E �erform t he ��o��en;int , and a�;reements contained in
<br /> 6hiet \lortgsge, or it any aetiou or proeerding in co�uu �enceci u•hi�•h wuterialh� affecln L�•nder's interest in the Prop-
<br /> erty, including, Uut not limiteri to, eminrnt doiu:tin . in.ol � .•no� . rude �•nfurcenicni , ur :u•raugement . or proceed -
<br /> in� involving a bankrupt or decedent , tl�en Lender �t Lcuder '� oE�tion , upou nutic�• tu Borroa�er, uiay make such
<br /> appearanees, disburse sucL swns and take .ucli uction as i. uecersar} tu E�rotect Lender'� interest , including, but
<br /> not limited to, disbursement of reasonablc attorney 'c Pee� ancl c•ntr�� upou thA Yroperty to make repairs. Any
<br /> amountr diebur�ed by Lender pursuant tu this paragraph 7 . �cith interest tl�ereon , �hall beconie additional indebt-
<br /> edness of Borrower secured by this \lortgage. Unless Fiorrower and I .ender agree to other terms of psyment, such
<br /> smounts shall be payable upon notice frorn Lender to Burrower reyuesting pay�nent thereof . and shall bear inter-
<br /> ert froou the date of disbursement at the rate stated in the ?�ote unless payment of interest at such rate would be
<br /> contrsry to applicable law� , in whieh e��ent �u�h amoimts shall bear interest at the highest rate permisaiblc by
<br /> applieable law• . '.Votl�ing contained in tliis � �aragra� �h i sh;ill rcquiro Lender �o incur unp exEiense or do any act
<br /> hes�eunder.
<br /> !. Imp�etien. I.ex�der map make m• ��nu�e to bc u�acic rra.�unnbl�� �•nu•ies u� �on arni ins{�ections of the Prop-
<br /> ertY, P�vided that Lender �hall give Borrower nou���� � u•�or � u ;ui �� •u�� l � in���eetiun .pecifping rea�:anable cauee
<br /> therefor related to Lender's interest in tlie Propert} .
<br /> '. Coad�lfon. The pra+eeda of :my sw'ard or �• Isim for damages , dirert or consequential , in connection
<br /> with any condeninatioa or other tuking ol thr Yroperty , m• part t lu•rcof , or for ��on �•eyttnce in lieu vl condemna-
<br /> tion, are hereby seai�ned and shall I�e paid to I.ender.
<br /> In the event ot a totsl taking of thF Yrof�rMy , the Irr«•eed• �hall I �i� a�,� ,li���i to thi� �wn= �e�• ured t,�� this :bfort -
<br /> g�e, with the exc�ss, if any , paid to Borro���er. In the event of a }�artial tuking of the Yroperty , unless Borrower
<br /> aad I,eader othenuise agree in writing, there shxll be applied to the swns seeurrd by , hi. \fortgage �uch propor- �:
<br /> � tioa of the prooee[ic as is nqual W tUat firo�wrtion which thr au�ount oi the eutlle :secueetl k�y t�lic 1lortgx�e imme- ^�_ '
<br /> diately peiatr to the date of takiag berre to tl�e fair market �•alue of tlie• Yro�:n �� immediately prior to the date of i ° w=
<br /> tRJ[in�, with t6E balance of the proceeds paid to Borrower. °:s�t"� "
<br /> If tdle Prop�eitv i6 sbondoned by Borrower or if after notice b�- I.ender to Borro���er that tl�e condemnor offers
<br /> ui uw3cts wu award ur wtbir x cirau i�� uaw�ex, Bvnuwrr inii. w ree�uu.i w Lender wuiuii 3II US}'A GI tne date
<br /> of i7iCh uoLicC, l.eti.ier ie ruLl�uri�eil tu .:ullr,c. l nu.l nN� �l� ll�r prui���� ai Lw�la-i '�, u��tiuu .•iti �rr w re.� �nntiuu ur �
<br /> rapaie of t6e Proqaeety or to tt�e eums eecured b,y tl�ie \iortgage.
<br /> Uaie�r I.end� and Borrower otherwice aaree in writing, any such application of prceeeds to principai shall
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