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<br /> � If under �iaragrapl� 1S hereof che Yro� �ercy i, �uld or tlie Propert �• i, otherwi�r aoquired by Le�uder, I .ender
<br /> shall aPpIY , no later tlian imtnediately ► �riur to the sale o! t {x� Yro� iert �� or it� ucyi�i.•ition L}� Leu�ier , any F'unds
<br /> held by Lender at the� time o( 3pplicstion a� a credit ugain.t r6c� .uu �.. .;i�euro� l h�� thi� \tongage• .
<br /> 3. Applieation oi Paytnants. Unles� ap� �licablc la�� � �rovidr� otl�i+rwi.e, nll payments recei��ed by Lender
<br /> under the Note and paragraplis 1 and 'l Lereuf �hall lu applied hy Lender fii:,t in pay� nen� uf au'iounts payable to
<br /> Lender by Borrower under paragraph 2 I �ereof , theu to interest � �:t��uble un the \otc an � l on Futurc Advances, if
<br /> any , and then to the principal of t�he Notc aud to tl�e prin�•ip�l of Futwr A�iv�nrea, if any.
<br /> � 4. Charq�s: Li�na. Borrower shall pay all tuxes , assess�nents and other charges , fines and impositions attrib-
<br /> � utable to the Property which may attain a priority over el �is �4ortgsge, ancl ground rents , if any, at Lender's
<br /> option in the manner provided under paragra��h 2 hereof or I ,y- Borrower makinR ps,vment , when due , direcWy to
<br /> � the payee thereof. Borrower shall promptl�� furnish to Lendcr all uotices oP amounts duc under thie paragraph ,
<br /> '� aud in the event Borrower sl�all �nake payuient directly , liorruH�er .I�all prou���cly furni� h to Lender receipts evi-
<br /> r' dencing such payments. Borrower shall prornptl,y dischnrge 3ny lien which Lah � �riority over this \lortgage ; pro-
<br /> � vided, that Borrower shall not be reyuired to discl�ai•�e any such lieu so long u� I3orrower si�s11 agree in writing to
<br /> � the payment of the obligation secured by such lien in u inanner acceptable to I,ender, or shall in �ood faith contest
<br /> � auch lien by, or defend enforcement of sucL lien iu , legal � �roceeding, ��• hich operate to pre��ent, the eniorcement of
<br /> ^ the lien or for[eiture of the Property or any ��art tl�ereof.
<br /> ^ 5. Hazard lasau�e�. Borrower shall keep the imEn�ovemc:nts no«� c�xisting or liereafter erected on the Prop-
<br /> erty insured against loss by fire, hazards included within the term "extended coverage" , and euch oLher I �azards as
<br /> Lender may require and in such amowrts und for sucli periods ns Lender mdti� requirc ; � n�o�-ided , tliat I.ender Ahall
<br /> not require thst the amount of such coverage exceed ttuic amount of ��overage reyuired to �iay the swns secured ' by
<br /> this Mortgage.
<br /> The insurance carrier � iroviding iLe insurance sliell be c•hosen b�• Borrower ,ubject to approval by Lender ;
<br /> provided , that such approval shall iiot be unreasonabl�� withiield . Al ! premiums on insurance policies al�al ! be paid
<br /> at Lender's optioii iu tlie inanuer provided under paragruph '� hereoi' oc• hy Borrower making prtiy�nent, when due,
<br /> directly to the insurance carrier.
<br /> In the event any policy ia not renewed on or before ten days of its expiration , the Lender, to protect
<br /> its interest, may procure ineurance on the improvements, pay the premiums and such sum shall become
<br /> immediately due and payable with intereet at the rate tzet forth in said note until paid and shall be
<br /> aecured by this Mortgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br /> under the terma of thia Mortgage.
<br /> All insuranr,e policies and renewals thereof �hall be in (orm airc�•ptahle tu Leu� ier and �hall include u standard
<br /> mortgage clsuse in favor of and in fortn 3cce� itable to ],endrr. l .ender �hall Lit��c the right to liold the policies and
<br /> renewals thereof, and Borrower shall proniptly furnisl� to Lender all renewal noticv,s and ul! receipts ot paid pre-
<br /> miums. ln the event ot loss, Burrower shn(1 gi��e pro�npt not,ice tu the iusurance currier and Lender, and Lender
<br /> may make proof of loss if not �nade promptly b�� BorroN�er.
<br /> Unlese Lender and Borrower otherwise xgree in �vriting , iusursnce proceeds shall be ttpplied to restoration or
<br /> repair ot the Properly damaged , provided such restoratiou ur repair is econuiuicully feai�ible and che security of
<br /> thie Mortgage is not tl�ereby impaired. If such restor:�tion or repair i• not ecunumically feaeil�le or if Ltte security
<br /> of thie 1lortgage would be impaired , tlie ineurnuce � uoceeds �liull I ,�� applied to thi• sums secured by this Mortgage,
<br /> with the excess, if any , paid to Borrower. I ( the Yroperty i. abamlone�t hy Borrower or if Borrower fails to respond
<br /> to I.ender within 30 days after notice by I,ender io Bon•ower that tlie insurance carrier offern to settle a claim for
<br /> inaurance bene6ts, I,ender ia authorized to collect snd appl�• t6c insurance proceeds at I.ender's option either to
<br /> restoration or repair of tl�e Property ur to t6e suws secured f,�• t his \iortgage.
<br /> Unleae Lender and F3orrower otherwise agree in writ.ing , any such application uf proceeds to principal shall
<br /> notextend or poetpone the due date of the mont6l,y installmen [s referred to in paragraphs i uud 2 hereof or change
<br /> the amouat of such inetallments.
<br /> If under paragrspli 18 hereof the Yroperty is acquimd by Lender, xll right, title and interest oi Borrower in
<br /> and to any insurance tiolicies und in and to the proceeds tLrreof Ito tlu• extrnt of the ,wnH secured by this �Iort-
<br /> gage immediately prior to such sale or xcquieitiuni re.ulting frum � ian �a�e tu the Yroperty priar to the sale or
<br /> ucquisition shall pass to Lender.
<br /> & Pr�svatioa mad Mmabamac� of Prop�rty; Leas�holda; Condo:niaiva�. Horrower shatl keep the Prop-
<br /> erty in good repair and shall not permit or commit waste , impairment , or deterioratiou of the Property and ehell
<br /> comply with the provisions of uny lease, if this \lortgage is on a leaseLold . If ihis \lortgagc is on 3 condominium
<br /> unit, Borrower shall perform all of Borrower 's obligatimi, under the declarutiou of condominium or master deed ,
<br /> the by-►aws and regulations of the condominiuui project and cunstituent documents.
<br /> 7. Proteetion of Iwader's S�eurity. If Borrower fuils to perforu� the covenants and egreetnente contained in
<br /> this vlortgage, or if any action or proceeding is conin�eneed which �naterially aflects I.ender's interest in the Prop-
<br /> erty, including, but not limited to, eminent domaiii , iu.ol � enc}� , co,le ��iiforcement , or arrangements or proceed-
<br /> inge involving a bankrupt or decedent, then Lender ut l.ender :. option , upon notice to Rorrower, may make such
<br /> appearancea, disbure;e sucli sums and take such ssctir�n :is is necessary to protect Lender'c interest, including, but
<br /> not limited to, diebursement of reasonable atcorney 's fees and entry upon the Yroperty to make repairs. Any
<br /> amounte disbursed by Lender pursuant to this paragraph 7 . �cith interest thereon , shell become additional indebt-
<br /> edaese of Borrower secured by this �iortgage. Unless Borrower aud I.ender agree to other Lerms of payment , such
<br /> amounte shall be payable upon notice from I.ender to Borro�cer requesting paytnent thereof, and shall bear inter-
<br /> est from the date of diebursement at the ratc stated in the Note unless payment of interest at such rate would be
<br /> contrsry to applicable law, in which event such amounts shall bear intetest ut the highest rate permiesible by
<br /> applicable law. tiothing containecl in ihis � �aragraph : shall require I.ender to incur uny exE�enae or do any act
<br /> hereunder.
<br /> B. Ia�dion. I.ender nisy mske or cause .o L� iux,ic rru.uiiablc .�uuirw u��un un�i in,4�rcuunn o( the YroP-
<br /> erty, provided thnt I,ender Fhall give BorroH-er notice ��rior tu :ui}• .•u�• li ins��ectiuu �� recifyinK renhonablr caueae
<br /> t6enfor related to Lender'e interest in the Property .
<br /> S- C.rnsd�maation. The proceede of uny award or clssim for daniages , direct ur couseyuential , iu conneetion
<br /> with any condemnation or other taking of the Yropert �• , or � �art tlicre�of . ur for con � eyxnce in lieu of cundemna-
<br /> tion, are hereby aseigned snd shall be paid to Lender.
<br /> In the event of a tota( taking ot the Propercy , thc � ,roceeds rl �nll I�e x�aplirvl to thr rucn. secured by this Mort- " �
<br /> Qafe, with the excess, it any , paid to Bortower. ln the event �f a partia � taking of the Property , unlesa Borrower �"
<br /> and Lender othetwise agree in writing, there sLall be applied to tl�e eums esecured by this �iortgage �such propor- � t',
<br /> �ton of tihe Prooeede se is equal to that pmportion which the amount of ihe sums secured by thie :14ortgage imme- �;y
<br /> distely prior to the date of taking bears to tl�e fair tnarket value of tl�e Yroperty inuuedintely prior lo thr date oi
<br /> ta1[i��, wit11 Llse bgjaace ot Lt� prwwwis Nai� tu Burrower.
<br /> If the f'roatrty is abandoned by Borrowcc ur if :.i1,Cr nueice �y Ixnder co }iorrower that the condemnor offers
<br /> to nt�ke an aw�srd or aett3e a claim for damages, Borrower fsiis to i�espond to Lender within 30 days of the date „
<br /> ol sue� s�otiCe, I,e�der ie suthorued to coilect and ap�ily the procc�lF at I.ender'� option eitlier to restoraLion or
<br /> e'epair of the Propertv or to the Rutna aeTureri hy thiF \ 1 �.�igage.
<br /> Unkw I.ender and Borro�ver othenvise agree in writing, any euch application of proceeds to pnncipal shall
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