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<br /> If under paragraph 18 hereot thh Yroperty i, �ol�i ur tlif• Pro} �crty� i. uther�cis� s<•quire� l 1 ��- Lcuder. I.ender
<br /> .hall apply, no later thnn immediatelv �irior to tl�o nailc uf rlu� Yro� ��• rty ur it , u�•yui� itiun I ��• Li� udi•r . :ui�� Fuudh
<br /> held by Lender ut the tirne oC ssp� �licsstiou as a rre� lit aKaiu.t rhe s�i � u. .,�rum, i hy � lii� \iurt �s�;�� .
<br /> 3. Applieation of Paym�at�. Unle.n. u� iplicahlr Lu� � �rovide, ot6crwi��• , ull pay �ni•ut. recei��e�l by t,ender
<br /> underthe Note and paragraphs 1 and '. hereof shull ho a� ydi�� 1 I,�� Len� i�•r tirt in � iay �uent of aniount . payable to
<br /> Lender by Borrower under paragrup6 2 liereo( , tl�e❑ to intca•c•,t � �;iyubl�• mi tl ��• \oto snd uu Futun• 9dvances , it
<br /> any, and then to the principal of the Note and to the � ,rin�•i� �x�l of Futw•e A�i ��ani•��� , if sny .
<br /> � 4. Charg�; Li�t�s. Borrower shall pay all taxes , :�ssess�neuts and othcr cLsrges , fines and impositions attrib-
<br /> utable to the Property which may attain u priority over tliis �lortga�e . a��d ground rents , if any , at Lender's
<br /> option in the manner provided under paragraph 2 hereof or I ,�� liorro�cer uiakin�; � iayment , u�hen due, directly to
<br /> the payee thereof. Borrower shall promptly furui�L to l,ender all notices of arnounts �iue under this paragrsph ,
<br /> and in the event Borrower shall make pa,yment airectly , liorroacr �Lull proiupth� iurnisti to I .euder receipts evi-
<br /> dencing sucli paymentc. Borrower a6all promptly discLssrge uuy lien which has � � riority o��er thi. \lurtgage ; pro-
<br /> vided , that Bormwer sF�all not be requimd to discliar�;e any �ueli lieu so long an Borrox�rr ahall agree in writing to
<br /> the psyment of the obligation secured by s�cl � lieu iu :� manner uoceptuble to Li•uder, or �hall in guud faith conte�t
<br /> auch lien by , or defend enforcement oi �uch lieu in , lega! � , rocee�iiny;, �aliii•h ��F �er:�t �• to � ire��ent the entorcement of
<br /> the lien or forfeiture of the Yroperty ar uny � iart thereof.
<br /> 5. Hazorzd Imurmae�. Borrower �hall keep tlio ini� �ro� ��tnents no�r rxisnng ur I �ereafter erected on t}ie Yrop -
<br /> erty insured sgainst ]oss by fire, hazards included within the tertn "extended coverage " , and sucl � otl�er hazxrds a�
<br /> Lender may require and in such 3mounts uiid for sucl � � �erio�l� ;i:: Lender iva� rec�uire ; � � ro��ided , that Lender shail
<br /> not require that the aiuount of sucL coverage exceed t1�a� auiow�i [ oi ro��erugc i�eyuired tu pay the sums aecured ' by
<br /> this Mortgage.
<br /> The insurance carrier providing tliu in ,uryucer shall bc rliosen b}� Borrowur subject to approval by I.ender ;
<br /> provided , thut �uch approval shall not be unreasonably withl�eld . :111 premiums on insurance policie, ahall be paid
<br /> at Lender's vption ni the tnuniier } �rovided wider � �ur�gru� � l � ', hereoi m� I �y f3orrower ivaking � �avment , when due,
<br /> directly to the insurance carrier.
<br /> In the event any policy is not renewed on or before ten days of its e:piration, the Lender, to protect
<br /> its interest, may procure insurance on the improvements, pay the �remiurns and such surn shall become
<br /> immediately due and payable with interest at the ratr set forth in said note until paid and shall be
<br /> secured by this Mortgage. Failure by Borrower to comply may, at option of l.ender, constitute a default
<br /> under the terms of this Mortgage.
<br /> All in5urance � �olicies �nd renewal., tl �ereot uhull b�• in im•� u ac��r� �t :� bli� tu L�•u� li�r nn� l .h>ill iuc• lude :� ,tandard
<br /> mortgage clau.e in 1'avor of z�nd in iorni arc•r� �table tu Len�ier. Lend��r ,iixll hii �•e� tt �c riRl� t ro liold the E�olicies and
<br /> renewals thereof, and Borrow�er shall pron�ptl�� furnisfi to Len �ier al ! renewul noticea und all receiptc of F,isid pre-
<br /> miums. In the event of loss, Borro«�cr �t �all gi�•e � n•ompc noticr to � ho iu.uraner carrier und Lender, and Lender
<br /> may make proof of loss if not tnade prmnptly by Borrower.
<br /> Unless Lender and Borrowei• otlierwiee aKree in �vriting , iu,w�auce ��ruceeds �I�atl Le applied to reertoration or
<br /> repairof tl'ie Property damaged , provide�l �uch reatoratio� � ur m�,nir i� ci�unuu � i �:ilh� f�>.l�ibl�� an�i ihe s�curityo uf
<br /> thie '�lortgage is not thereby iinpaimd . If � ucli re�tor,�tion w• repair i< ❑ot riunviuirnll �' fcueil�lr ur if the security
<br /> of thie �lortgage would be ii��paired , tl�e insurauce � �roceeds ,li :tll Li� ap�, lied to ttu� suni� secured by cl�is A�fortgage ,
<br /> with the exceas, if an,y, paid tu Borrow�r. r. lS the Yroperty i, �han� lone� { I,v Borro�cer ur it Rorruw�er fails to respond
<br /> to Lender within 30 days ufter notice by I .ender tu Bon•ower t hut ch�� iusurauce carrier oH'ere to settle a claim for
<br /> insurance benefits, l.ender ie authorized to collect and apE, ly tlir insur:iuce � �roceeds at l,ender's option either to
<br /> restoration or repair of ttie Property or to tLe ,wus eecw•ed I �}- t lii, \ lortgagi�.
<br /> Unless Lender and Borroµ�er other�visr� agree iu « riting , auy aucJi apE�li�•atiou ul proceeds to principal shall
<br /> not extend or postpone the due date of the � nontlily iustalliurnts referre�l to iii � ,ai•agraplis 1 and '2 tiereof or change
<br /> the smount of such installments.
<br /> If under parsgraph 18 hereof the Yropert�}• i, acquired by I.endcr . :�ll right , title and interest of Borrower in
<br /> and toany insurance policies and in anrl to the proceeds tl �creuf ito tlu� estent oi tlie .uins se�•ured be thi� \4ort-
<br /> gage immediately �.�riur to �uch ealc ur acyui�itioni re.uhin�: iruiu dau �uKi• tu rhv Yropert �� prior to the sale or
<br /> acquieition shall pass to Lender.
<br /> & Pr�rvation �d Mmnnt�naace of Propsrty; Lem�holda: Condomiaiva�a. liurrower ahall keep the Prop-
<br /> erty in good repair and ehall not � �ermit or �•ommit waste , im� �sirment , ur � {eterioratiou uf the Yroperty and shall
<br /> comply with the provisions of uny lease , ii this \ Iortgage is uu n lrase6old . It thi: \Sm•tgxge is on u cundo�ninium
<br /> unit, Bortower shal! perform all of Borrower', ubligatiou� iamier the declarstio❑ uf coudouiiniu�n or master deed ,
<br /> the by-laws and regulation� of the eondominiuni � ,roject and cunstituent docwurncs.
<br /> 7. Proteetioa oi I.�ndei s S�curity. If Borrower iail. tu j �erforro the coveuaut� aiid :xKree�nents contained in
<br /> this �lortgage, or if any action a• proceeding i, co�muenced whi��li uiateriully alTecw Le�ider 'e interest in the Yrop-
<br /> erty , including, Lut �wt ] imited to , rn�inent dmi�aiu . m,ol �� on�•�� . � � ule < �niorerni�•nt , ur urrangements or proceed-
<br /> inge involving a bankrupt or decedent , then Lender at Leuder 's optiun , u��on noti� �• tu liorrower , � nav make auc6
<br /> ttppearances , disburse sucL sums xnd take �uch nction us i= nrce��ar� tu protect Lender 's iuterest , including, but.
<br /> not limited to, disbursement of reaeonsble attorney '� fee. and eutry upon thP }'roprrty to make repairs. Any
<br /> amounts disbursed by Lender pursuant tu this pssragruph i . �ritl� interest thereon . ,hall becoroe additional indebt-
<br /> ednese of Borrower secured by this \lortgage. LJnless Borrower ;�nd I ,ender agree to other terms of payment , such
<br /> amounts shall be payable upon notice froiu Lender to Aurro�cer reyiicsti�ig ��apine��t fhereof, and ehall bear inter-
<br /> eet fmm the date of disbursetuent at the rate stated in the 1ou unless payment ol intereet at such rate would be
<br /> contrary to applicable law , in which event such amounts shall bear interest at the higl�eet rate permiesible by
<br /> applicable law . :Vothing containe�l in thi� � �xragra��li i ,I�ull raquin• Lcuder to incur an > ex�iense or do any aet
<br /> hereunder.
<br /> 0- �ylCtlOa. Lctl�3er : ua)' i:.:�k� u;� .� :au�c W Li ui:a� li- ii-:�.ui�al �lv � � utric. u � iu� � uiui iu.� �rc � �uiir ui tiir Ylv}�-
<br /> erty, provided that I,ender �hall gi��e Burro�+ er �iotirc � �riur t u ;in } •u� 1 � in.yxc• h�,u �� �coifyinK n �usuc�al �lr c•auer
<br /> therefor rclated to Lender's interest in the Proper�y . V
<br /> 9. Cot�d�e�aation. The proceeds ut ssny a�vard or c�lai �n im• dumages , direct ur couseyuential, in counection
<br /> with sny condemnation or other taking o! the Yropert �� , ur � �ssrt ihorcuf . ur for roii� e�•anr�� iu licu o1 cundetnna- i�
<br /> tioa, are hereby assigned and shsll Iie paid to I.rnder.
<br /> In the event of a total taL•ing of the Yroperty , the � �roceed� .�lixll I �e appli��d tu tlie .wu� ��•cureci by thie '.biorl.- �� �' �
<br /> gage, with the excese, if any , ��sid to Borrower. In tl�e event of a ��a,nixl taking �>I the 1'ro� N�rty , u�ileeas Aorro�ver � ��
<br /> � and Lender otheswiae agree in writing, there sl�all be appli�i to the swne �;ecurcxi b�• thi� \lortqagc such propor- `
<br /> tiqn of the pro<saeds as is equal to that proportion which t6e aniuunt ai' t he nums necured by thiN �lortgage imme- � `''"„
<br /> distely prior io the date of taking beare to che fair iu�rket valuc o! tlie }'ropett�• i�ntTiediatrl}� E�rior to the date of � ��.
<br /> � taltin�, wiLh the LuL►u�e ui iiin Nivwwe�ie Nxiu tu Burruwer. �
<br /> If tlie ProperLy is aL��lwxr] Lq I3u�•ru�rm ur i[ ail,er uuticr i.y I.ui�uer �u E3orrower ci�ac tt�e conaeinnor oHers
<br /> W make au awud or settle a clsim for damag�ea, Borrower faila to reepond tu Lender witLin 30 days uf t.he date ,�,
<br /> of suclf notioe, I.entier iec suthorised to oollect and ap��ly tMe E�roneed� at I.rnder �� ��ptiun �•�thrr ti. re.toration ur
<br /> repair of the ProQerty or tn thP R�imR wv���r«�i hv tl�i+: \ t �rlgagc
<br /> Unlers Leuder $nd Borrower othenviee agree in writing, any sucly upplication of proceede , ta priuci� �al shall
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