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<br /> If under paragrsph 18 hereot thr Yrupert.y is sold or il�c Yropert �� iti otherwi�e� � oquir��� i b}� Le� ider, Lender
<br /> �hall apply, no later tLan it►�mediatelv prior to tLc �alc ot tlie Yro� i��rt �� ur it , ac� � ui�icion f,y L�•u� 1er . any Funda
<br /> pp held by Lender at the time of ap��lication ss a credit ug:sin.t tLr .wu. .00un•� i I ��� ti � 1� '�lortgs��•.
<br /> p� 3. AppGeatioa ot Paya��ale. Unles� a� �� �lic•al�lr la�c � iroride� ot,hera� i.e , ull pay �ucni�; rrreivei.i by Lender
<br /> � under the Note and paragraplis 1 and 2 hereof eL :ill hc a1 �plied b�• Leridcr fir.t in payu �ent uf amuunt � payable tu
<br /> �,. Lenderby Borrower under paragrspli 'l Lercwf , then to int�•rc�st � �uyubl� • wi thc \ot �• :ind un FuWrc Advances, if
<br /> � any, and then to the principal of the I�'our und to tlie � �rincipal of b'uture A� i ��a�u�c� , if any. '
<br /> � l. Ciuuq�r, Li�os. Borrower shall psy all tazes , a�aessments and other charges , fines nnd impoeitions attrib-
<br /> ut,sble to the Property which may attain ;i priority over tl � is M1lortgage, an�i groui�d rent � , if any , at Lender'n
<br /> � option in the manner provided uuder paragrapli 2 hereof or b�� 13orrower inuking payment , �shen due , directly to
<br /> t6e payee thereof. Sorrower sha❑ promptly furuish to I .ender all notiree c�f amouutn duc under tl�is paragrsph ,
<br /> and in the event Borrower shall make pa,yiuent �3irectly , 13orroMer shall �a•om��tly fw•uisli to I,eu�ler receipts evi-
<br /> deneing such payments. Borrower shall � � rompUy- discl�ssrge :�ny lien w�hich l�a� prioriry over this \lorigage ; pro-
<br /> vided, thst Borrower ehall not be reyuire�l ro dischatge any surl � lieu so long as liorrower ,hall agree in writing to
<br /> t6e psyment of the obligstion secured by such lien iu :i � riauuer acceptal�le to Lender . or shall in good faith contest
<br /> such lien by, or defend enforcement of sucL lieu in , legal � �rocee<iings �vhich operxt�• to pre�•ent the entorcement of
<br /> the lien or forfeiture of the Yroperty m� uny part thereof .
<br /> 5. Hasard Iasurane�. Borrower �hall keep ( Ill' III1J �1'Ol'1911PI1i5 now rxi�tiug or Jiereafter erected on the Prop-
<br /> erty insured against loes by fire, hazards included withiu t.he term "extended coverage " , ctnd such otLer hazards as
<br /> Lender may require and in such arY�ouuta and fur suc•h period� � , Lender inu�• reyuire: ; � �ro�•ided , that I.ender shsll
<br /> not require that the amount of such co�'eragc� exeeed tliat amount of c•overage� reyuired [o pay the surns seeured by
<br /> this Mortgage.
<br /> The insurance csrrier �irovidinK tlie insurance alial � be chosa�u b�• Borrower eul �ject to approval by I.ender ;
<br /> provided , that sucL approval sl�all not be uureasouabl,y withi�eld . All premiums on insurance policien shnll be paid
<br /> at I.,ender's uNtiun in the tnuuuer �,rovidr� i ui�der � iaragra��li Y I �ereui or L�• Burro�tier ivakiug � �ay� iuent , when due .
<br /> directly to the insurance carrier.
<br /> In the event any policy is not renewed on or before ten days of its expiration, the Lender, to pmtect
<br /> its interest, may procure insurance on the improvements, pay the premiums and �uc:h aum shall become
<br /> immediately due and payable with intere�t at the rate set forth in r,aiid note until paid and shall be
<br /> tiecured by thie Mortgage. Failure by Horrowrr to comply may, at option of Lender, constitute a default
<br /> under the terma of this Mortgase.
<br /> All insurance policieti and renewals thereol � huil I ��� iu fm•u � uc�'ept :thle to L�•mler :ind �1i311 inrlude a standard
<br /> wortgage cisuse in favur ot and in !'orw acce� itabl�• to Lendi�r. Leiidrr rhall liu��e th�� n�ht to I �old the policies and
<br /> renewale thereof, and Borrower shall proniptly furnisl� to Lender all renewal uotic�a and ull receipte of paid pre-
<br /> rniums . In the event of loss , 13orrower sliull gi� r prompt uocice tu tlir iu.uraucr currier and Lender, and I.ender
<br /> may make proof of loss it not made pron�ptly b�� Burrower.
<br /> Unless Lender and Borrowr.r otherwise agree in �critiug , in�urauce } iruceeds shall I �e apNlied to restorution or
<br /> repair of the Yro}�ert�� damaged . ��ro� ided such rr,torstiun ur r.q �ssir i� �•ounon�icull�• i��usible and the security uf
<br /> this Mottgage is not t4ereby impaired . ! f �uch rrseoration ur reEiuir is � iot econoinicall�• feusible or if the security
<br /> of this \Tortgage would be irnpaired , the insurance �irocee�f� sl �ul l I �c up� � lieii tu the .um� secured by thie Nfortgage,
<br /> with the excese, if any , paid to Horrower. it t1�e YropeiKy i� ahan�lune�f b�• Bm•rowe•r or it' Borrower fails to respond
<br /> W Lender within 3U days after notice by Lender ca Borrower tliat tVic iusura��ce carrier offers to settle a claim for
<br /> iasurance benefits, I .ender ie authorized to ��ollec:t snd appl}� th�• msurance proeeeds at I�ender's option either to
<br /> restoration or tepair of t}ie Property or tu the sucna secured f,� t6is \ lortgage.
<br /> Unleas Lender and Borrower otherwise agrer in writing, aii�• sucl� apE�lic:xtion of proceedn to principal shall
<br /> not ertend or postpoae the due date of the rount6lp iustaliments refrrre�i to iu paragraphs 1 and 2 hereof or change
<br /> the �mount of aucl� installments.
<br /> If under paragrsph 18 hereof the Yroperty is acquired by I,ender, all right , titic and interest of Borrower in
<br /> snd to any ineurance policieb nnd in anri to the proceeds tlierroi ito t {u• extent of tlie -uma sec�ured b�� thia Murt-
<br /> ga�e imtnediately prior to such sale or seyuieition � rr� uhinR Irum daum�;e tu tl �c Yropert �� prior to thc sale or
<br /> noquieitioa shall pxse to Lender.
<br /> L Pr�r�ation md M�nl�nme� o! Prop�rty: Lsas�holds: Coadoiniaiums. liorrower �hali keep the Prop-
<br /> erty in good repair and echall not � ,ertnit or commit waste , iu�Eiairmeut . ur � irteriorstion oi the Yroperty und shsll
<br /> comply with thr provieions of uny lease, if thi, \ lortgagr ic on a leasehold . li tlii� \lortgage ie on a condominium
<br /> unit, Borrower shalt perforeu all of Borrowcr'. obligation� und�� r � he declaraUuu of condominium or rnaster deed ,
<br /> the by-lawe and regulations of the cundorniniuin ��roje��t :xud �•onatit �ent docwnente.
<br /> 7. Prof�etion oE ]wad�r's S�eutity. lf Borrower (ail.: tn � ,erfonu the ��u��cuants and ukreements contained in
<br /> thia Viortgage , or if rxny act�o�� ur ��rocerding is couin�enced whi� �6 tusteriull�' sffecte Lendei's interest in the Prop-
<br /> erty, ineluding, but not liznited to , euiinem douixiu . �n�uhrucy� . c�Ni�� rnf'orcen�ent . or arraugeinenta or proeeed-
<br /> , it� involving e 6unkrupt or decedent . then Lender st Lender '- u� ;tion , upon noure to 13c�rrow•e. r, may make such
<br /> appe�rances, disbw•sr sucti cums and take sucL scti��i� az i� ue�•r,sar�� tu � irotect l .ender's interest , including , but
<br /> not limited to, diebureement. of rensonable attorney '� ler� :ind entry upon thP Yruperty� to �nake repairs. An,y
<br /> rmoun#sdisburaed by L,ender pursuant to this ��aragrupli 7 , uitli interr.st thereun , shall hecome additional indebt-
<br /> edneas of Borro�ver secured by this �fortgage. Unless Borrower aud l ,ender sgree to other ienus uf payment , such
<br /> amounts shall be payable uFwn noLice from Lender to BorruHer myuesting payment thereof , and shall bear inter-
<br /> est from the date of disbursement st the rate stated in the _Cote unless ��uyment oi interest at such rate would be
<br /> cot►traty to applicable law , in which e��ent such amounte shall l�ear intrrest at �he liigl�eet rate pern�iesible by
<br /> applicable Inw . Vothing contained in thi � � �arngra��h ; � h:ill n-quire Lendrr tu iucur any ex}�ense or do any act
<br /> hereuader. 1
<br /> 8. �. LCIILLCI 11�:1� IliaLc u/ cLLUal' iU � �� 11�.�� 1i � �':inui�il� r �� il � ( Ylv� u� �ul � .ii �� � i1���icCUVLn .�f tlu• Pru}�-
<br /> erty, pro��ided that Lender sl�sll gi��e Burro�cer nohri� E � riur to ;ui�� > ii � l � inspertiun � � x�� if}• in�; rea�onnble cause
<br /> t6erefor relsted W Lender's interest in the Propert �� .
<br /> 8. Caad�mnCtiee. The proceeds of un}� a�.• arci or claim tor damagee , direct or conseyuential , in connection ,
<br /> with any condemnstion or other taking of the Yroperty , ur � �art thrreof , or ior eonvi•t�ance in lieu of cundemnn -
<br /> �� tion, ae�e hereby �igned az3d ehall l�e paid to I.ender. � ,�"<.
<br /> Ia tbe event of a total taLcing of the Yroperty , die � �rocecri. �liall lii upplied to tf�r . ums �:rcured by t.his 14ort- ^"""
<br /> ga�e, with tbe ezces� , it sm• , {>aid to Borrowe�. Ir+ tl�e event ot a ��artiai taking of the Yrorwrt�� , unlesx I3orrower �
<br /> � rod I.eoJer othenviae aeree lA Writlilg, there ehail be appliecl to the suine secured by this \iortgage �uch proQor-
<br /> tion of the prooeeds ae is equal to thet proportion a•hich tl�e amount of the �ums necured 6y� thie 9lortgage imme-
<br /> � distdy prior to the date of takins bears to tl�e fa:r marlcet value of tlie Yro�ert�• immediat.ely prior to the date of
<br /> ta7tias„ wifL ii�e i�r�ace aiC clae Nroenndr �u w bsirrower.
<br /> II �}1b Pa+�y+arLy i� rL�laK+al Ly Burs+vwac w ii xftcr �i�bicr u� Le��aier w I3�rruwri tlir� �i�e �uuucuuior uHen:
<br /> W ma�t�e aa s�rard or cettte s eisias for dan�a�es, Sorrower fails to renpond to I.ender witl�in 30 daye of the date '"'
<br /> of Mteb netioe, Lender ir yuthorised to et�tlect amd sppip the proceedw at l,ender', uption either to reitoratiori or
<br /> n�ir Ai tl�r Ar�xrf.� m� 1� thP .�ern« ���rwi hy fi+ic 11 �rYgn �
<br /> Usk�c Lender and Barrowet othern•ioe agree in writing, any such application of proeeeds to principel shall
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