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<br /> If under paragrapl� 18 hereof the Yro� �er�y i. suld ur ilie 1'roE �crty i. otheru� i,c a�•yuircd f�y Lender. I.ender
<br /> shnll app1Y , no lster tlian immrdiately prior co tlu• ,:+ lr u1 tlic Yro� �� rn• ur it , u��yui�ition f ,y Len� ier . :ui�� Fim�lh
<br /> held by Lender at the titne o[ ap� �] icatiot� ar a rredit ugain.t tlu• .wu� ��•�• urc�1 I ��• ihi., 11ortKage .
<br /> 9. 1lyplicalion ol Palfinents. Unles.• applicahlc lu�� pru�•ide� othcrw�i.�� . ull puyu�ent ., received by I.ender
<br /> under the iv'ote and paragrapL� 1 and 2 hereot �+Lall Lc ep� die<i In- Lcudi r tii:.t iu � ,ayment ui suwunls ��uyable to
<br /> 1.ender by Borrower under ��aragru��l � '. I�ereoi, tLc:i to intcrrst � iuyablc uu tl�c \ot .• aud un 1'uture A�ivances, if
<br /> 1 any, and then to the principal of the \'ota• and to thc princi� �al of F'uture :1d ��ani+en , il any . (
<br /> �, Charg�a; Li�os. Borrower sLall priy all tssxes , asr.essments and ut}�er charges , fines and impositions attrib-
<br /> utable to the Property which may attaiu u priority over tl �in �fortgage , and ground rentn, iP any , at Lender's
<br /> option in the manner provided under l �aragraph 'L hereof m• I �y Rorrower uiukinq p3yment , wlien due , direet.ly to
<br /> the payee thereof. Borrower sha❑ promptly furuisL to I.ender nll notices uf an�onnts due under this paragtapli ,
<br /> Q� and in the event $orrower shall make payment direcUy , Borro�cc•r �liall prom��tly (un�ish to I,cnder receipts evi-
<br /> CO dencing sucl� paymente. Borrower sl�all promptly disef �urge si�y lien whirh hun E ,riurity. over this \lortgage ; pro-
<br /> !'!� vided, that 13orrower xhall not be required to discl �argr an�� �ucli lirn so long as Borrower sliall agree in writing to
<br /> I�- tlie payment of the obligation secured by such lien iu .i uinnner acceptable io L��nder. or �hall in good faith conteat
<br /> C sueh lien by, or defend enforeement ot aucti lien iu , legal � �roceedlnq. wliich operate to � u•e�'ent the enforcement of
<br /> .= the lien or forfeiture of the Yropert�• or u�iy part � I�ereof .
<br /> 5. Hazard Ias�arm�e�. Aorrower •hail kee� � tlu� iiu� �rove�ueut � uo�+ �•xi�tinq ur hemsfter erertcd on t6e Prop-
<br /> � erty insured against loss by fire , l�aznrds inc•luded withiu the term " extended cuverage " . :u�d sucl� uther hazards as
<br /> (� I.e�nder insy require snd in ruch utnounts und lor . ueh � �eriod � a� L.rnder � iiac rcquirc : pro�� ided . that I,ender shall
<br /> not require that the suiount of sucli co��rragi� ezceed ti � at a�uuunt oi rover:age reyuire� i to � ,s�� thc �ums stiecured 'by
<br /> t.his Mortgage.
<br /> The ineurance carrier providing tLe in,urauce slisll be i hosru h}� liorru�ver ,uhyece to �� ipro��al by Lender ;
<br /> provided , that sucL spproval shall not be unreasonabh- wit.liheld . :111 prerniums on in�;arance policirs �hsll Ue paid
<br /> at Lender's optimi iu ttie inancier E �ro�� ide�l i.in�ler � riragra}�I� 'l I �ci•eut or I ��� kiorru�aer urakin �; � iaVn�ent , wlien due,
<br /> directly to tl�e insurance carrier.
<br /> In the event any policy i�; not renewed on or before ten day� of its ezpiration, the Lender, to protect
<br /> its interest , may procure insurance on the improvements, pay the premiums and such sum shall become
<br /> immediately due and payable with interest at the ratr set forth in eaid note until paid and shall be
<br /> secured t>y this Mortgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br /> under the terme of thie Mortgage.
<br /> All insuran�e policie, and renewal. thrrr:of �lusll Lv in lorni n�•i•�rptuhlo tu Lrn� ler an�{ • I �all in�• � ur1c a stetndard
<br /> mortgage clause in iavor of and in forn� acceptahle tu I ,euder. Lender �hall L�v�� the rig6t to hold thr {>olicies and
<br /> renewals thereof , and Borrow�er shsll }�roniptly furuisii to Len� ier all renews] uoticN, und all recei}�te of paid pre-
<br /> miums. L� the event of loss, 13orruw�er shxlt gi�•e � u•oiu��t notioe to ihe iu ,urance ciu•rier and I.ender , and I,ender
<br /> mry inake proof ot loee it not made proniptly I�y 13orroHer.
<br /> Unless Lender and Borrower utl�erwise agr�e in wri[iug , in.ur:tuve pruceeds . hnll be appliec� to reatoration or
<br /> repair uf the YropeMy darnaged . � �ro�� id�-d .,urL re•,toration ur n•� �sir i . i•cunuini �:. 11v fr��il �le nnd the security of
<br /> this Mortgage is not tliereby inipairrd . Ii wch rrsca;itiun ur re� �:tir i. uot �•cun.,n �i��:�ll� fraaible w• if the security
<br /> of thie �tortgage wuuld be inipaired , tLe innw•ance proceed� si � uli I �r np� �lied to th�• sunin secured by thie Slortgage ,
<br /> with the excess , if any , paid to Borrower. lf tl�r YrupeiK }� i.� ahau�luned h�- 13orru«�er or if Borruwer fails to respond
<br /> to Lender within ;30 days sfter uoticr by l .ender tu Borrower cl�ut thc insursuce carrier offers to ,ettle a claicn for
<br /> insuranoc benefits, ]_et�der ie suthorized to eollecc aud appl� tlic insurauce � ,roceeds ac l.ender's option either to
<br /> restoration ur repair of tl�e Properiy vr to the �u�u� �ecw•e�l 1 �� this \ lungag�•.
<br /> Unlere Lender and Borrower otherwiac agrer in writing , auy� �uch ap�,lication oi proceeds to principal shsll
<br /> not extend or postpone the due date of the monthly ii�stalliuent . reCerred to iu � �aragraphs 1 and 2 liereof or change
<br /> the amount of such installmencs.
<br /> It under parsgraph ] 8 hereof the Yroperty i� acquired I ,y Lender , all right . title aud interest. of Borrower in
<br /> and to any insurance policies and in nnd to the prucerds thrreo� � to tlio extrut ut tl�e -iuu. secureil by thie 3fort -
<br /> gsge inunediately pria• to nucL sale ur a�•ywsitioni rr�ultin�: iruni dam.igc tu rlic Yropert }• prior to the ��le or
<br /> acquieition shsll p�s to Lender.
<br /> i, pr�rvation �d Mont�+e� oi Prop�sty: l.�as�holds: Condominiums. liorruµ•er �hall keep the Yrop-
<br /> erty in good repair and ahall nut {�ermit or commit uasic , im { �airment . or � ieterioratiai ui the Yropert}� und shall
<br /> comply with ti�e provisionti of an}� lease , if tLia \lurtgage i= un a 1� •ssehol � i . If thi, \fortgage i� o❑ s condominium
<br /> unit, Borrower shall perform ali of Borrower 's uhligat �on� un�i��r tiie deciarntimi ut con�lmuinium or master deed ,
<br /> Ghe by-laws and regulations of the coc�doaiiuiuni � �rojr�•i ;xn�i ouuscituent docuuients.
<br /> 7. Protsetioei of L�ader'� S�curity. If Borrowrr fail . tu � �erforni th�� co�•rnants ssnd u�;reemente contained in
<br /> this 3lortgage, or if any action ur proceeding is conmienced �vl� ioli ui�teri311p� aft'ectt l .rnder 's interest. in the Prop-
<br /> erty, including, but not limited to, eminent douium . iu�ul � �� nry . cu�le �•nlor�•r�u�•ut , or arrange�nentn or proceed -
<br /> inge involving s bunkrupc or ciecedenc , theu I.ender :si Lru�irr ', u� � tiuu . u � �uu nutu•�• t �� i3urruw�•r . niny tnnke aucL
<br /> appearances, disburse sucl� sums end take .ucli acti��n :i, i� iio� e��ar�� iu � n�otec� L�m�ier'� interest , including, but
<br /> not limited to , disbureement uf reasonable xtt,orney '� iee� and en1r� uE �on th� Pro� �rrty to inake repaits. Any
<br /> amounts dieLursed by Lender pureusnt co this psragrs��h 7 . �� ith interrst thereoii . �hall I�ecoroe additional indebt-
<br /> edaeseof Borrowersecured by this \fortgsge . L?nless Borroucr �ud Lender agree to other terms of payment , such
<br /> amounte shall be payable upun uotice fruii� Len�ier [u I3orruwrr rryucstiii�; }�nyii�c:ut thereot , and sliall be�r inter-
<br /> eat from the date of disbursement at the rate stated in rhe \ otc unless ��a��ment of interest at sucli rate would be
<br /> contMry to applicable lsw , in which event �uch xmount� shall bear interest at the highest rate permiesible b,y
<br /> applicable lxw . :Vothin�; contrYiniri in thi- � �araqraph ; >I �nll rr� � u � ro Lendrr tu Incw� xn� rxpeuee or do uny aM
<br /> hereunder.
<br /> 6. Lr�e4m l.rnaer u3ay ���auc+ m ��au.•r � o i ��: u �s� t�• r.•n-onauu � uinr, u� �un au� i � us��r�•uuu� �i � hr Pr�E�-
<br /> erty, �ra�vided tttat Lender .•l�sll gi��r liurruwer uut1�•e � �nm tu �ui � �u� li iu.� �r�•tiou �Jn•cifpiuK ren.wuable i•suse
<br /> tl�erefor relsted to Leader's interes� in the ProE�ert�� .
<br /> 8. Coed�abien. The procneda o! auy aw�►nt or �•laiw ior �1u�uugee, dirrct ur cuuneyuential , iu connection
<br /> wit6 any euudruuuition ur uChrr tukiug ut tLr Yro��rrty , ur � �urt t i �crruf . ur f.�r � uii� ry� xur. iu lieu uf c•unden�nu-
<br /> tion, Rre hereby aseigned and shall be paid to l .ender. .��
<br /> Ia theevent of a total taking of the YroEmrty , tLe procerci.� �liall In� a � �{�li.�d tu ihr �uui- �ri•urcKi Iry t6ie Mort - grn`
<br /> gaQe, w�ith the excess, if any , Naid to Sorroner. ! n the event of a E»rt.ial taking ul ttie Yro�x�rty , unlesn Sorrow�er
<br /> Laad Lender otherwiee agree in writing, there eliall be s}�plicvi to thc �wub FICUI'E'(j (1V tIIIF \lortgage such propor- ±�
<br /> tion of tl�e praoeedr ar ie equal t,o that pro�wnion whirh the siuuunt ot' tl�e rums ,ecured by thie 1lortgege imme-
<br /> �d'uEely prior to tlte dste o[ taking b�►n to the fair mxrkrt vxlur ui � hr Yru��rrty imttuKliatrh priur tu the dsLe of
<br /> t�kinj, witd� tlie baiance of the proeee�#e }�aid co I?iorrovver.
<br /> lf t,he liroparGy u sb�ndoned by lforrower or t� atter nouce bt• lxr�der co t3orrower that tt�e conVetnnor oflers
<br /> te toalca u� awfrd ar oett� a claim for datnages, Botrow•er fails to respond Lo Lender witl�in 30 �iayn of the date '°
<br /> of �eh notice, Leader is suthorised to cwilect anci a{��h• the procrrd� xt I ,ender '> uptiun .•uhrr tu r��r� uration or
<br /> re� of thc Pro}x:rty or tu tlic eu�i�. ,,.:.:urc�i b}� tl.i� Alortg:�;,i .
<br /> Ualere Lender and Boriv�ver otherm•iae agree in writing, any such applicat�on of proieeedn t.o ��ri�u•ipal ahall
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