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<br /> � If under paragraph 1 $ hereof tlie Yro� �erty i, .ul�i ur th�� Prnpert �� i. oihi•r�� i�i • : iriauiro� i b}� L�• u�ler, Lender
<br /> .hsll uPN�Y, no later than im�nediately prior W tli�• ,:ilc u( tlu� Yro� �.•rtp ur it., ur� iui�itim � I ��• L�•mirr . auv r'w �ds
<br /> I�eld by l.enderut the tirne of applicatiou �s x emdit �i�;� in�t thi• , un,s �ecun •� i I � � tlu� Alor� �;a�;�� . �
<br /> 3. Applieatioa ot Paymsale. Unlesa 8�)� � I1CSIlIP I7�1' � �1'O\'If �P.� uther+ci .�� . ., II ��a� iuc�ut. re��ei � ��d by Lender
<br /> under t,hc Note und t ,aragrapLs 1 and '2 hereof sLall h� � u� r�ilieri b�• L�•nd��r 6r.t iu paywi•nt of :in �ount � payable tu
<br /> Lender by Borrower under � �aragrapL "2 hereof , theu to interest � �s�•uhle on the Aote and un F'utw��� Arivan� es , if
<br /> any, and then to the principal of thE: \'ot.r and tu t6e � �rinei� �ul uf Futw � A � i �:xncc� , it u�iv .
<br /> � d. Chargp: Lisns. Borrower sliall pay ull taxes. aE,�e�sinents .tud ot.lier ch.arges . fiues und i�npositions attrib-
<br /> utable to the Property which may af,tain a priorif�� uver tliis �lortgage , snd grouud reut . , i( a�iy , at Lender'd
<br /> option in the manner provided under paragraph 2 liereof ur hy� FSorro�ser makinR �,ay�nent , when duf� . ilirectiv to
<br /> the payee thereof. Borrower shall promptly furnisL to I.ender all nutice. of rtn�uw� ts � lur under tliis paragrap}i ,
<br /> and in the event Borrower shall make puyn�ent. direotly , Borro�scr �h:ilt � �ro�nptl�� !w•ni�li tu 7.euder recei��ts evi-
<br /> deneing sucl� payrnents. Borrower shall promptly diacl �argi• um� lieu H�hicL La. ; � rioritp ovrr this \lorigage ; pro-
<br /> vided, that Borrower shall not be requireii to dise6arge unt� �u�•1 � licu so long as Iiorrouer ,liall agree in writing to
<br /> the pay[nent of the obtigetion secured by euch lien iu u � uanner :iccc�,tublc to Leu� ler , or �hail i � � guod faith contest
<br /> auchlien by, ordefend enforcement of �uch lieu iu , le�al � ,ruccedingn �chich u�ier:ue tu ��re � ��nt the euforcement o(
<br /> the lien or forfeiture of tP�e Yroperty or an�• ��are f liereof.
<br /> S. HazazdInsuranee. BorroH�er �hsll kee�� tlie iw � u•o� ement , nu�� �•xi�riu�; or I �rreufter i�rec�ted on the YroP-
<br /> crty insured against loss by fire, hazards included witl�in the tern� "exteuded aoverage " . :ind �ur6 utliei• hazarde as
<br /> Lender may require �snd in such uinounc � ami for .ucl � � �erio� i� a= L�•n�ler � uu}� r� yuirc• : � uu�� ide� i , thut Lender ehall
<br /> not require thut the amount of such co��c+rage exeeed iLut awutnu of � �nveru�c reqiiired to ps�� the ,ums secured 'by
<br /> this tilortgsge.
<br /> j�, The insurance carrier � �roviding tlie in.uiaucr >hull hc rlwaei � 4 ,� gorr�,H �• r ,uLicsct w �� �pro��al by l,ender ;
<br /> �j provided , thut sucL approval eliall not t�e uw•easouubly withhel�l . :111 prerniums ou in.uruuce � �olicirs nhall be paid
<br /> £� at Lender's optiou in the ti�r��uier provided uuder � �aragr:�� �li Y liereoi or i ��� liurm�5•��r � uakin�; � �ay �ueu[ . when due,
<br /> � directly to the insursnce carrier.
<br /> `,, In the event any policy is not renewed on or before ten days of its expiration, the Lender, to protect
<br /> ` its intereet, may procure insurance on the improvements, pay the premiume and such sum shall become
<br /> immediately due and payable with interest at the rate u�t forth in said note until paid and �ehall be
<br /> ^ secured by this Mortgage. Failure by Borrower to comply may, at uption of Lender, constitute a default
<br /> ^ under the terms of thie Mortgage.
<br /> All insuranae policies and renewul. thereot .I�all lur in luru � urri•� �tu61c tu Lomi��r :uid .I�ull inc• lude u atan�larci
<br /> mortgage r,lause iu favor of und in fortn ac�e�ndbl�� to Leucl�� r. Li•n�ior ,hull liasec thv ri�;ht tu liold th�� � �olicies :iud
<br /> renewals thereof, anu Borrower shull E�rouip[ ly turni�L to l.e�i� ler all rene�vul uotices uuil sll recripts uf paid pre-
<br /> miutns. In fhe event oP loss, liorro«•er ahulf give � ,irowpi�, iiotice to thc iu5urauce carrier and Lender , $nd l.ender
<br /> rnay mQke proof of loss if not made promptly I �y Borrower.
<br /> Unless Lender ssnd Borrower otherwise ygn•e in �� riting . in..w�aiir�• � u•occc�J, �hall be applied tu mstortttion or
<br /> repair of tlie Property damaged . provided ,urh re�tor;xtiun ur ri•E �sir i� ��c•umnui� :ill}� fea.ible and tl�e securit�- of
<br /> this Mortgage is rwt tl�ereby in�paired . I ( .ueh re,tm:ition ur re� ciir i� uot e�•unuinir,tlh• le:isibl�� or if the securitY
<br /> of thie Alortgage would be impaired , tLe in,ura��ce Enucee�i � �luill I �� ,1 ��� �liu� i w tlir suuis ,ecured by this Mortgage ,
<br /> with the eYeess, if any , paid to Borrower . If tl�r Yro� �erty ic ;il�au�l��ued h�• ]3urrowrr oi• il Borro�+•er fails to respond
<br /> to Lender within 30 days after notice by Lender to liorroµ�er �.huc t he iusurauce currier oft'ers to settle a claim tor
<br /> inaurance benefits, l .ender is uutliorised to collect and apE�h• th�• iusuruuce Nro�•rede at l.ender's option either to
<br /> restoration or repair of tlie Property or to the swn, secured I,}� thi , \lortgagr. .
<br /> Unless Lender and 13orrower otherwise t�gree iu writing, a�n� such upidicatiou ui proceeds to principal shall
<br /> not extend or postpone the due date of the monttilp install�ucnts referred to in paragraphs 1 xnd '2 hereof or change
<br /> the amount of such installments.
<br /> If under paragraph 18 hereof tl�e Yroperty is acyuired b�• Lender, xll riKht, titlr and interest of Borrower in
<br /> end W any insurance policies and in and to the proceeds rl �er��ul itu tLe eztant of thr awur eecured b�� this A�ort-
<br /> gage immedi�tely prior to such salc• ur a�•quiritiour re.iilcinR iivu � daw:igc tu � h�• Yropert�� � �rior to thr sale or
<br /> acquieition shall pasa to I.ender.
<br /> 6. Pr�s�nation �d Mmat�n�►cs o! Prop�rty; LsawLolds; Coadomiaiums. liorrower shall keep the Yrop-
<br /> erty in good repair and Ehall not permi� or comrnit µ :i,te, iu�pair�uen� , or � letrrioruciuu uf th�� Yroperty snd shell
<br /> comply with the pro�•isions of any lease, if tliis \ Iortgage i� ��ii s Icaseho6i . it this \lortgagc is ou ii condominium
<br /> unit, Borrower shall perform all of Borroµ•er's ol �li�acion � urnl��r the �lectal:uiuu ul' cundominiucn or rnaster deed ,
<br /> the by-laws and regulstions of' the eondominiun � � u•uj �•ct and cuustiturni document�.
<br /> 7. Protsetion of Lnder i S�curity. If' Borrower iaii� to { �erlorin the �•uvenxuts at�d ;igreements contained in
<br /> this \4ortgsge, or if any action or proceedin� is comnienced whicli waterisslly afiects l ,ruderb int.erest in the Yrop-
<br /> erty, including, but not limited tu, eminent do�uaiu , iusol �'eu��c , cu�i�� enfore•ement , ur xrrau�ecnen[s or proceed -
<br /> inge involving a bankrupt or decedent , tl�en I,ec�der at I .eud�� r :, o��t �on , upon notice to liorrower, tt�dy make such
<br /> appearances, disburse suoh sums and take suc6 action ;i� i .: ucre�..,ary tu � �rutrct Len�.ier's interest, including, but
<br /> not limited to, diebursement of reasonable attorney '. iee� snd entry upon the Yroperty �o make repairs. Any
<br /> amounts disbursed by Lender pursuant to this � ��ragrspli 7 . ��•iUi interes� thereou , eLall beco�ne additional indebt- V
<br /> ednese of Borrower secured by this �iort-gage. Unless Borrower and Lender agrec to other �ercns ot payment, such V
<br /> amounta ehall be payable upon notice from Lender to AorroH�er rcyuesting }iayment thereof, and shall be�r inter- C
<br /> �t fzom the date of disbursement at the rate stated in thc \ate unless puymenl uf interesf ut such rate would be C
<br /> contrary to applicable law , in which event such amounts sliall bear intereet ut the Lighest rate permiesible by �
<br /> applicable law. Vothing contained in thi � � �aragraph i .hall mquire Lender to incur any expense or do any act �
<br /> hereunder. Q
<br /> i• ImpKtian. I.ender may make or rau�e tu � N' IT18fIC' rea�onablc cntriea upon ami ins��cctionn of the Prop- �
<br /> erty, prot�ided tl�st I.endcr sliat.' git•c 13.�rr��cer uutic� i � uur iu :u � � . uri � � u.� ,e�•twn � � x•cuyiuK rrasonable cause �'p'
<br /> theretor related to Lender'e interest in the Property .
<br /> !. Cmd�atioo. The proceeds of uny awsnl or c• laim for damages , direet or consequential , in connection
<br /> � with any eondemnation or uther taking c�i the Yroperty , ur � �urt � i �.•reol , w� 1'ur �•ou ��evaui•e in lieu ui condemna-
<br /> tion, are hereby aesigned end shall I�e paid to Lender. .
<br /> In the event of s total taking of the Pro��erty , the � �roeeed. .I�xll be ;i��plied to the .um� .eournd h�� thi�; \fort - �
<br /> ga�e, with Lhe excees . if any, paid to Borrower. lu the event of a � �artinl taking ul the Yropert�� , unless Borrower C`, '� A
<br /> � und Lender otherwise ci,gree in writing, ihere sl�sll I�e a�>plie�i to tha- surnn seeurr�l by this \lortguge such propor- ; �
<br /> tion of the nuaeeds as ic �� � �`
<br /> p equsl to thac proportion which the amount ot' the sunls necured by thih \10 imme- � 'J�ri
<br /> d'uteiy prior to the daie of taking bears to tiie fair nwrlret ��alue of' the 1'roE�ertt• iminrdi�tely prior to ttir date of
<br /> tti[itig, with the halance of the proceeds p»id to Borrower.
<br /> If tlie Pru{�erty i� yLru�iw�l L,y B�uruwee ur ii niter notice i�y lxnder to tSormwer that tlie rondetnnor oSers
<br /> t0 wakE an 3watd or settle r claitu fur 1�w��e, Burruwnr itt�ln tu resEwnu co 1.ender wttliw 30 daye of the date +
<br /> of suaeh ttotioe, I,endez is authorised to collect atiii ap��1y tlx jirocee�lr nt l.ender'� upt�un eitlu•r io re.turation or
<br /> tep�ir of the Property or tu the ewne eecured by tl�is \lortgage .
<br /> Unle�e Lnnder snd Aom�wwr othrnviwP *g�. in writing, snl• euch applicatio: : o; procc.;1, :.., 1,, ;u� iE,ui sl�ni;
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