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<br /> If «nder paragraph IS liereof � Ix• Yropert.y i- .old ur ili�• 1 'ropert �• is othvn�� i,�� srr� uim� 1 h�� Londer. Leuder
<br /> .li�ll app1Y , no later tlian imuledialely prior to tl � e sale uf tli� � F'ro� ��vt �• � �r 1t � uiv � ui�i � iun V �� Li� u� � .�� . :� � � .� r��,���i�
<br /> I�eld by I.ender xt the time u[ ap� ilicatiou a� u creciii aqaiu.t cL�• ..uu � � �oruro� { I ,� i lii, \ tott �;s�,�
<br /> 3. Ayplieation of Paymeats. Unles. applic�ble Is�� � �ru�•ide, u[ her�� ixe . :il ! �iuyiu��ut . r�•cei � r�l by I.ender
<br /> underthe Note an� parsgraphe 1 :�nd '2 Lereo( a6� 11 I ��• u� q �li��� i L}� Len�i�•r fir.t in � �u�' u �.�ut uf :�uwunt , p:syable to
<br /> Lender by Borrower under paragru�,l� 'L liereof , then to intere.t � ci�•al >I� on ilic• \ uto srvi un Futuro Advance� . if
<br /> � any, and then to the principal of the !Votc uu�1 to tLe � �rin��i � �al of I�utur�• Ad ��an����� , if uu}� .
<br /> 4. Charq�a; I.ieas. Borrower shall pay ull t.axee , asaessn �entn und utl�er oliarK��,, tine� sud impositions attrib-
<br /> � utable to the Property whicL may attaiu :i priurity over tlii� \fort �aRe , an�i grouud reut� , if uuy , at Lender'h
<br /> � option in tlie msnner provided uuder � �arugra��h 2 hereot ur I ��� gorrowtrr inskiu�� � �uyu�ent , when dur , directly to
<br /> `"` the payee thereof. Borrower ahall promptl�• furui�l � � u I.en�icr all notice, of awouut . � iue under tl �is Eiaragraph ,
<br /> C and in the event Borrower hl�all makc px���ueut direetly , liurro�eer sl �ull �irou�� �tl}� iuruial � to Lender receiptt evi -
<br /> C dencing such payments . Borrower s6a11 ��ronipih- di��� liurge auy li�•n which I �x� � � riurity ov�•r this \ Iortgage : pro-
<br /> � vided, that Borrower shall not be recauirr�i to discl � ar�e au� sucfi liru ,u lonq a� ]iorro�c .r �hall agreer in writing to
<br /> � the payment o[ the obligtttion secured bV �ucL lien iii ;� � uxnner acreptxl�le to L��n� 1E•r, ur �liall iu �;uo�i faith contest
<br /> � sueh lien by , or defend enforeement ol' �uc1� lieu iu , legal � �rucer�diug� �cliirl � o���rate to � �rc•���•nt the eniorcement of
<br /> t.he lien or forfeiture of ttie Yropec•ty or am• part t licreof .
<br /> 5. Haxard Insurcnes. i3orrok�er =hsll kec� � tfic iin� �ro ��euient � uu��� ��aittiu � ur herrafter �•rnctee� on the Prop-
<br /> erty insured against loss by fire, h�zssrd� includecl withiu the terni "extended coverage" , and such utt ,�r hazarde us
<br /> Lender u�ay require and in such uinowit � au�i fur aurli � ,erio� l� :i� Len�lrr nia�� rcyuir�� �. � , ro��i� ie� i . ihat I,en�ler chall
<br /> not require th�t tl�e a�uount of eucl� coveragr execed tl +:u amuu + d of �•orrr3g�• rryi� ired tu � ,ay the suins aecured 'by
<br /> this Mortgage.
<br /> The insurance ��arrier � �rot�iding tlw in, uran�•�• •hull b�• � ho,rn I �� )iurru�� �•r �ui �jE•�• t to up� �ro�� al b�� Lender :
<br /> Eirovided , that nuch a�proval ehall not be uureasonably withi�el�i . a11 prerniume on insurance � �olicic•� =1ia11 be paid
<br /> »t Lender 's optioi� iu il�e wunner � �ro�� i�lr�l uu�ler � �:u�agru � �l � 1i Lereol ur I �t' 13orn:��� rr �uaki �i�; � ,u}' inent . ��� hen due ,
<br /> directly to the insurance carrier.
<br /> In the event any policy is not renewed on or before ten days of ite ezpiratic�n, 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 interer,t at the rate set forth in said note until paid and shall be
<br /> secured by this Mortgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br /> under the terms of this Alortgage.
<br /> All insuranee policies and mnek�ttls thereot �liall I �� � in iurn � a�r�q �ti�blr to L� auler sn� i sliull in� lud�• a standard
<br /> mortgage clause in fnvorof and iu form acer� uahl �� tu Len� ler. L�•rnirr =1�ali ha �'�� � h�� riKi �i to liuld tkx• � �oliciea aud
<br /> renewals thereof , and Borroµ�er shall prom�,th- furniah to Lerni�•r :�ll renew•ssl nou �•e� :�n�l ull receipts of paid pre-
<br /> miums. In the e��ent oi luss, Horro�eer sti � ll gi���� � �rou �� ,c uoticr tu � Iie• iu�w•uuce �•urrier and Lendrr, and Lender
<br /> may make proof uf losa if not. made procnptl}� I,�� Borroµ er.
<br /> Unless Lender and Borru�ver otherwise agree in �critin�; . iu ,uruucr � �ruceed� chall V �e up�ilied tu rrstoration ot
<br /> repair of the Property datnaged . E�ro�� idr� 3 sucli rc�.torauun ur nqui� r i� �•�•unun � ic:� ll�� Sou� ible xud the securily of
<br /> this A9ortgage is not thereby I�upa� red . ! i �u ��h re�tur:it �ur. ur re�,nir i � n�rt r�•unuiui�•:tlir ir,isii �le or if the eeeurity
<br /> otthis '�lortgage would be impaired , tlie in.urauce � rcocee�ia sliall I �e s� �� �lle� 3 to th�� ,wu� secured hy tLis \lortgage,
<br /> with the excess, if any , paid to Borrower. li rhe• Yropert �- is abaudone� i liy 13orruw�� r or it BorroH�er fuils to respond
<br /> to Lender within 30 days siter notice by I .ender tu BorroHer tluu th<• insurauce carrier oRera to settle a claim for
<br /> ineursuce benefite, Lender is authorized to �•ultect and 3pE �ly tL�� insura��cr �iroceeds ut J .er�Jer '. uption either to
<br /> restoration or repaii• of the Yroperty ur to thc �uiu� secure�i l �� tl� i, � lurtgag�•.
<br /> Unlees I.ender and I3orrower otherwiec: u�ree iu writing, auy� �u�� l , up� �licatiou ui ��roceeds to principal shall
<br /> not extend or postpone the due date of the iuonehl�• installn �eut � rei��rred to in E �aragraph� 1 and 2 hereof or change
<br /> the amount of sucl� installments.
<br /> If under paragraph 18 hereof thr Yropert}• i� acyuire� l liy Lei�der . sll ri�ht , title and interest of Borrower in
<br /> and to any ineurance policies xnd iu and to the proceed, therc•of itu rh�� ext �•nt ui tlic ruuir srcured b�� ti� ie !�4ort-
<br /> gage immediately priur to sucl� sale or aryuisitiu� � i re=ultin�! frum � lxiusKc � u th�• Yr�i}�ercy � �rior to the eale or
<br /> acquisition shall pxss to Lender.
<br /> 8. Pt�servation mad Mmnbnanev o! Frop�rty; Iwas�holds; Coadomiaiutne. liurruwer �hall keep t he Prop-
<br /> erty in good r•eE��sir and shall not E �ermit ��r � om�nit N� uste . iiuE �alrnient , or � lrtrrioratiou ut thc Yroperty and Eh411
<br /> comply with the provisions ot any lease , if thi� \ lortgag�• i� uu a I��a�eLold if � lu� �lortgnge i� on a cundominium
<br /> unit, Borrower shall perfor�u all of Borrower's ohligation� uu�ier thc drrlxratiun of ��ondominium ur master deed ,
<br /> the by-laws and regulationa oi Uir eondominiwn E � ru� r�• � au� l i�ui�stitueut document..
<br /> 7. Proteetion oE Lender's S�eurity. li Horrower fail . to } �rrforiu the co��euant , uud x�;reeinenta cuntained in
<br /> thie �4ortgage, or if any acciou or proceeding i. coninience� i �� l� irli iuuteriath �ff��ctn Lender 'e interest ii� the Yrop-
<br /> erty , including, but nut limited to, ruunrut doiu:. ii� . iu.u; � �� u � � �� . „�� 1 �� ��nfur���•iu��i �t ur :Arrau�ru�rnt. or �,�rocrw�3 -
<br /> in� involving a bankrupt or decedent , then Leuder at Lru� irr ' � o� ui � m . n� wu nuhr�� u� Hurruwe� r, niay �nake such
<br /> appearanees , disbur�c sucli surnc and take �ucl � act.ion a, �. m•re�sar� tu t , rot ��ct Leuder '� mtrrese , iucluding, but.
<br /> not limited to, disburseroent of reasonable attorney �� lee� sn�l cntry u� �on thc' Yrupertt• to �uake reprirs. Any
<br /> amounts disbure�ed by Lender pumuant to thin paragruE�h 7 . �� ith iuterrsc therruu . �iiall becumr additional indebt-
<br /> edneas of Borrower secured by this \lor[gage. [Jnles� Aorrow<• r and Leuder agree to ott�er ter�un of pa,yment , such
<br /> amounte ehall be payable upon f10�ICP fro�i � L�•nder to BorroHc�r requrstiu� � �aymNnt thrreoL xnd shall bear inter-
<br /> eet from the date ot disbursement at tl�e rate stxted in the \ote unlees � �synirnt ui interest at such rate would be
<br /> contrary to applicable law , in which event such xmounts shall I�car � uterest ut thr higheet rate permissible hy
<br /> applicable Ixw . '_Votliing containe�i in thi� � ,arngrx� �h ; -L;� ! I rc �� uir� L� ndrr to incur an � exi �ense or do any� act
<br /> hereunder.
<br /> 8. Isipectio�. l.rndr: wa}� i:,ukc or :�uu�o ' u L•� � : c :i � !: � :�� � ::�u: : a1 . � i , ._ t. .� �;,.; , .� ., ,,: .u : � � : .: , , ,�.i.. i ��.. . i, � . �., �, p�pi_
<br /> ertY, Provided t. hat I.ender shall gi��c Borroeer n �ri � �• � � r�c�r + u nin• •u� I � in.� ���rr �� iu , � �e�<��frin�; ri•e�snnahli� c•auer
<br /> therefor relsted to Lender's interest in the Prapert�� .
<br /> 8. Cond�=nnation. The proceed� o[ unr xwsrd or rlairn for � lamageh , direr� ur ��onsequentisl , in ronnection
<br /> with wny condemnation or other taking of � he Prolirrt �• ur � �xrr � In •rea�L or for �•un � e�- an��« in liru of �•undemnx-
<br /> tion, are hereby assigned and shall lie paid to Lender.
<br /> In the event of a total taking o( the Ymperty , the � �rocee+i, �hall I �c a�,�,lied tu the �u� u� �ecured by this Wiort -
<br /> ga�e, with the excese, it any , paid tu Borro�aer. ln tlic rveut uf a �,artwl tnki�iq uf the }'ru�N�rt�� , unless Borrower t' �
<br /> � sad I.ender othenvise agree in writing, tl�ere ehall be applic�i to tl�e .mus �ec�retii hy rh�� :1lorcgage �uch prcrpor- �
<br /> tion of the prooeede as ie equal Lo that pro{wrtion w•hii•h tl�r anwunt ot the mm� krcured bv thiE 1lortgage imme- ' �•
<br /> distely prior to tfie date nf takinY heun: ro the fair markrt ��alur ui tlir Pr.�wrtc iinmediately prior to the datk uf �'!�
<br /> txki�. witti the }�ulauue uI tl�r Nru�:u�xia F.aiu w Bwruwr� .
<br /> If the Pro�erty ie abandone:i by $orrou er ur if :.:ter nau: c !;} Le::der tc Borro�ccs :hat t;.r coi ..l.:n.::or �ffers
<br /> to roake an award or settle a claim for dr�rtsages, Borrower failh to reepond w l ,en�ier witliin 30 c�a��n uf the drt� �
<br /> ot rue� notice, Lender is ruthoriaed to collect and aN{>ly the i�rocc�evir at I.ender '- o�niun eitl �rr tu rr�� oration or
<br /> repair of the Prq�e�ty or to che Rame �ru �v�i ba• thi� \tort ¢a{n•
<br /> Unlew Lender and Borrower otherwise agree in writing, any such applicat�on oi proceede to {�nncipal �i�all
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