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<br /> " II imdet• l �sragrapli iS liereol tiic }' ruperlt� i �, uld .;r t6cr 1 ' rop� � i • uth � t � i << n � nuire� i he L.cucier. I ,en�ier
<br />;� �'. shall upply , no Interthan immediaulY 1> riui tu th� , ilc c, f tlu I '� o� ,� il � ui i � � � � ui..iuon I �� i � n�i � r, tuy- l��unds
<br />�:
<br />" hald by Lender .�t the Y�imc �of sp� ,lx itaon i5 a ucdd ig � �n�t th� � uu � � � cuicd h� tlu . llurtR �i�,c
<br /> - 3. iipp:cccx::0:1 04 �� yr..=,.s. Lr..zs, .�j,, ,.,... ! 1 ,: !._ ., � . . !� .. ., , � .. . . .. ._ I ! ;�:t *�_ . .t.= ,-�,r.,,� �. .��i hv T ,,,nder
<br /> ��� � under i•he Note and paragi•nphs 1 and 'l }:ereof slY:xll I �c applied t,}� l,endcr 6isi in p�}�ment of :� rr��ouiits paysYile ta
<br /> � Lender by Borrower un<ler paragrapL '2 hereof , then to interesb liayable on tlic Aote :uid on I�utiire Advances, if � � � � �
<br /> �ny, aud t.hen to the princ�ipal of the Not� und to thc princq�ai of I�u�w•c Ad� snces , if an,y.
<br /> � 4. Charges; Liens. Borro�ver s!iall pny :til tsxes, assessmcnts a itl other chnrges , rn�.s and irn��osiiions attrib-
<br /> �va utable to the Property wliich may attain a priority ovci• tlii, \Iortgi�ge, and �rouuc� ients , if a�iy, at Lender's
<br /> M o}�tion in tfie �nunnei• provided under a>aragraph 2 hei•eof or by I3orrower making �>ay�rient, �ti�hen due, directly to
<br /> � the payee thereof. Borrower shall promptly turnish to Lender alt notices of amoiints due under thie paragraph ,
<br /> � :�nd in tl�e event Barro�a•er sl�all inake payment direct.ly- , 13orrow•er shall p7•an� ptly fun�isl� to Lender receipts evi-
<br /> d dencing suclr payments. Borro�ver shall promptly discharge any lien which ha:, ��riority over this \4ortgage ; pro-
<br /> � vided, that Borrower shali not be reqairecl to dise.harge any such lien so long as Borrower �hall agree in writing to
<br /> the payment of the obligation secured by sucl� lien iu a inam�er acceptssble to Lender, or shall in good faith contest
<br /> � such lien by, or defeud enfoxcement of sucli lien in , legai proceediugs wlaich operste to prevent the enforcement of
<br /> � the lien or forfeiture of the Property or any part tliereof .
<br /> 5. Hazard Insurcnce. Borrower s1�aIC kcep tlie ianprovements no«� existing or i�ereafter erected on the Prap-
<br /> erty insured sgainst loss by fire, hazards included within the term "extended covernge", and such othei• iiazt;rds as
<br /> " Lender may require and in such amotmis and for such periods as Lender may require ; provided, that Lender shall
<br /> not require that the nmount of such coveruge exceed tLnt amount of coverage required to psy the sums secured 'by
<br /> this Mortgage.
<br /> The insurance carrier providing tlie insurance sl�all be c6osen Uy Borrower subject to :�pprovAl bq Lender;
<br /> provided, that such approval shall not be unreasonably witliheld . All premiums on insurance policies shull be paid
<br /> at Lender� option in the rnanner provided under paragrapl� 2 hereof or by Borrower m�,king payment, wl�en due,
<br /> directly to the insurance carrier.
<br /> In the event an,y policy is not renewed on or before ten days of its expiration, 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 rate set forth in said note until paid and shall be
<br /> secured by this Mortgage. FailuTe by Borrower to comply may, at option of Lender, constitute a default
<br /> under the terms of this Mortgage.
<br /> Ali insurance policies ancl renewnls tliereof �iiall be in forui acce}'>table io Lender and sliall include u standard
<br /> ; mortgage clause in favor of and in form ucceptable to Lender. Lender shall l�r�ve the right to hold the policies and
<br /> renewals thereof, and Borrow�er shalt promptly furnish to Ileuder all renc�vul noticr,s and a!1 receipts of paid pre-
<br /> miums. In the event of loss, Borrower shall give prompi notice to the insurance carriei• snd Lender� and Lender
<br /> may inake proof of ]oss if not made promptly by Borrower.
<br /> Unless Lender and Borrower othertivise agree in writing, insur�nee proceeds shall be applied to restoration or
<br /> repair of the Property damr�ged , provided such restoration or repair is economically fessible und the security of
<br /> thia Mortgage is not thereby impaired. Ii such restoration or repair is not economically feusible or if the security
<br /> of this �Inrtgage would 1�e impaired , tl�e insurance �>roceeds �1�a11 bc applied to tlie suuis secured by this Mortgage,
<br /> with the excess, if any, paid to Borrower. It tlie Yroperty is uk>andoned by L'orroc�•er or if Borrower fails to respond
<br /> to Lender within 30 days after notice by Lender to Borro�cer tliat the insurance carrier ofters to settle a claim for
<br /> � insurance benefits, I.ender is authorized to collect and apply tlie insurnnce proceeds at T ender's option either to
<br /> restoration or repair of the Property or to the sums secured by tl�is \Iortgage.
<br /> Unless Lender and Borrower otherwise agree in writing, any sucli applic�tion of proceeds to principal shall
<br /> ' not extend or postpone the due date of the monihly installments referred to in paragraphs 1 and 2 hereof or change
<br /> the amount of sueh instaliments.
<br /> � If under paragraph 18 hereoS the Yroperty is acquired by Lender, all right, tiile and intemst of Borrower in
<br /> and to any insurance policies and in and to tlie proceeds il�ereof ( to t,Le extent of tl�e sums secured by* this Dlort-
<br /> gnge immediately prior to such sale w• acquisiiion ) resulting from dainage to tl�e Yroperty prior to the sale or
<br /> �. acquisition shall pass t•o Lender.
<br /> , 6. Preservation �d Mmntenmace of Property; Leaseholds; Condominiums. Borrower shall keep the Prop-
<br /> erty in good repair and shall not permit or commit waste, impairment, or deterioration of the Property and shsll
<br /> ' comply with tl�e provisions of any lease , if this \Iortgage is on a leasehold . If this blortgage is on s oondominium
<br /> unit, Borrower shall perform all of Borrower's obligations under the declaraLiun of condominium or inaster deed ,
<br /> the by-laws and re�ulations of the condominiuin project aud constituent docmnents.
<br /> 7. Protection of Lendei s Security. If Borrower fsils to perfm•in the covenants snd agreements contained in
<br /> this _14ortgage, or if any action or proceedin� is comn�enced �vhich mnteriallv affects Lender's interest in the Prop-
<br /> erty, including, Uut not limited to, eminent do�ni�in , in�olcency, code eniorcement, or arrangement.s or proceed-
<br /> ings involving a bankrupt or decedent, then Lender at 7.ender's option, upon notice to Borro�ver, may make sueh
<br /> appearances, disburse sucl� suins and take sucl� act.inn as is necessary fo protect Lender's interest, including, but
<br /> not limited to, disbursement of reasonable nttorney 's fees and entry upon the Property to make repairs. Any
<br /> amounts disbursed Uy Lender pursuant io this paragrapl� 7, witli interesL tiiereon, shall become additionaI indebt-
<br /> edness of Borrower secured by this �Sortgage. Unless Borro�ver snd Lender agree to other tsrms of payment, such
<br /> r amount,s sha11 be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear inter-
<br /> est from tlie date of disbursement at the rate stated in the I�Tote uniess payrnent of interest at such rate would be
<br /> contrary to applicable law , in which event such nmounts shall bear interest at the higl�est rate permissible by
<br /> y appliaable lnw. Notl�ing contained in this pnragrapli 7 s6n1 ! require I,ender to incur any expense or do any act
<br /> hereunder.
<br /> 8. Inspection. Lender tnay- �nake or cau=e to be inadc a•easor,3hle entries upon and inspections of t.he Prop-
<br /> erty, ,r+rovided thlt I.ender sh;jll give iiorrmti�er notic•� i�rior to anv �u��h inspecti��n ���ecifyine reasonable auuse
<br /> therefor related to Lender'e interest in the Property.
<br /> 9. Coademnation. The proceeds of any award or claim for damages, direct or consequential , in connection
<br /> tvith an,y condemnation or other takin� of the Propert,y . or part thercef , or tor conveyance in lieu of condemnss-
<br /> tion, are hereby aseigned and shall l�e paid to Lender. � -, �
<br /> ' In the event of a total taking of the Property, the �n�oc�eds �halI be applied to the sums secured by this �4ort- " � ''+. -
<br /> gage, �vitli t-he excess, if aiiy , paid to Borro�ver. Iu Ll�c evenf, of a partisl tyking of the Property , uriless BorrQwer � ' , ` u, �
<br /> , , and Lender othern�is� sgree in ��-riting, tl�ere sh�sll be appliecj to tl�e sums secured by this �lortgage such propor- � "' ��r
<br /> tion of the proceeds as is equal to that' proportion which tl�e amoui�t oi the sum5 secured by tUis Dlortgage imme- � ` q;
<br /> � � ' diately prior to the dato of tr�king bears to xl�e fair inarket. value of iF�e Property i�n�nediaY,ely prior to the date of ?;�j��",
<br /> " ` ' � , ce of the pmceeds paid to Boirowei . ` ' ^
<br /> . � ..: t8�gytklC P1Y] Ce a1'd 5��.9�.f`.'1^G�CI:C.`�.. �l}' � .^. ='I'OS�'C:'� +J'.' lr ..i+c. �iCt ;no 1?}'� T,n..i3o tn Rtl!'pn1{•or /hgf; 1hv nOnllantpn�` n,ff_ oTc ; .�. •, •
<br />� t0 P_'8�B A21 $A'flSC� OTBPt'? IP R C�Rlill f[lr (jAt1lR�P�; R(1TfY141'PI' iftj� C f (� tf+c�lllTl(j f0 � .l'il(�Ci wlt.�liTl �n (j8.vc (IF t.�1P. (� St�P
<br /> of such notice,' Lender is sutl�ori2ed to -collect and ap��ly the 2�roeee3: at Lender's option eitiier to restoration or �
<br /> repair oi Lne Yioperty or io ihe sums sec�ared by ii�is :�iorigage:
<br />� iTnless Lender and Borrower otlieres�ise agc� e in ivriting, any such application of proceeds to principo l shall �
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