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<br /> If under paragraph I8liereoi tht� Yro� �ertc is ;olrl ur tlu� YroErert �• i � utiirrrwi��� aryuire� i h}• Leuder. Lender �
<br /> ,hall apply , no later thxn iwmediatel}' � >rior tu tlic .ulc ut tl �o Yro� mrt }� ur it � :u•� � ui�itiun In' Li�udc�r, .ui�' F'und5
<br /> I�eld by Lerider �t thc tiiur of a�p� �licacion u:< a c•r���lit :iguin�t t li�� � iiin� ..ri• un�� l h}- tl � i. Aiurt �;uh��.
<br /> 3. Applieatiot� o! Paymrntr. �Tnle.� up� � licahlr Is �+� � �roti id�r. other�ci��• . ull } r.iynu•nta received by Leuder
<br /> under the ?�'ote utad p:� eagrapLs 1 und 2 I �ereof .liall hv u� q ,lie� i h� Li�u�lor lirst i � � � �».yuuut ui uuiu�int . E ��tyahle to
<br /> Lender by Borrower under paragrapli 2 liereo[, Uien to interest � ri }�uhl�� uu ihc _1ot � :uui u� � Futurc A�l �•arices, if
<br /> any , and then to the princ•ipul 01 the \'ote ai�d to thc � �rini• i � �al of Tuture A� I � anri�� . if ;iuy .
<br /> � 4. C6arg�s; Liens. $oriower shall ��a�• sll taxes , assessments an� i othrr oharg�•� , fini�s and iniposition� attrib-
<br /> I ut�ble to the Yroperty which tnuy nttain u priority over tlii� \lort�age , :in�i �;round renh, if any , at Lender'h
<br /> � option in the �nanner provided under ��aragra� �h 2 hereuf or I �y liorro�rer makin�; psvmc�it , when due , directl,y to
<br /> *� the psyee thereof . Borrower shall promptly furni,6 to L<+ndcr all notice� nf anwunts duc tmder this paragraph ,
<br /> �✓ and ia the evenc Borrower �hall make puy� ucnt directly , }iorro�cer ;liall l �ranptly furnish to Lcuder receipts evi -
<br /> � dencing such }�ayrnents. Aorrower sLall 7 �rau � itly �li�churge u� rv lien « hicl� ha� ; ,riorit,v o��cr this llortgage ; pro-
<br /> �-�- vided, that I3orrower shalt not b� reyuire� l to discl � ar�;e an�• aucl , lieu ,o long a. 1Sm•ro�c�•r � t �all agrec in writing to
<br /> � the payment of the obligation secured by cueh lien in :� ivanuer ;icccptabli� to Len.l��r . oi :=i �all iu good faith contest
<br /> pp such liet� by , or defend enfomement of �ucli lieu in , legal � �rocec��i � nk. �. i � i�• h o�,erate to � �rr�•��nt the enforcement of
<br /> 1� the lien or forfeiture of the Yroperty or ziny part tl �creof .
<br /> 5. Hazard Insur�ses. f3orrower �hall kec��� tl �e iin � n�o�•r� ueut, no��� a�xi�iing or liercafter e•rected on the Prop-
<br /> erty insurEed against, loas by fire, ha�ards included witLiu the terui " extended coaerugi+ " , ;uid such otl�er hazards as
<br /> I.endertnay requireiind in such amouut, ;an�l ior su��l � �u�rio�lr u� L��uder � u:i�� re� � uim : � n•u�� ided , that Lentier shall
<br /> not require t6at the xrnount of 5uch co� e. rag.� eaoeed tha[ a�uouut of ruvcragc re�luired to pay the ,ums secured 'by
<br /> this !Nortgage.
<br /> The insurance: carrirr � n•ociding tlie in,urauce .l�all br �•lioaeu bc Hun•o�� er ,uhject tu a�i� n•uv:il by Lender ;
<br /> provided , tha6 such approval sLall not be iuireasonubl�� w• ithheld . All premiums un iusurance polic�e, al�all be paid
<br /> at Lender's opuou in the inanner providr�i uuder � �:iragru ��l � Y liereof or hy }iorru�cri� iuukin� pa�• ment� wfien due .
<br /> directty to t�l�e insurance carrier.
<br /> In the event any policy is not renewed on or before ten days of ite expiration, the Lender, to protect
<br /> its interest, may procrure insurance on the improvements, pa,y the premiums and �;uch sum shall become
<br /> irnmediately due and payable with interest at the rate tiet forth in r�aid note until paid anJ shall be
<br /> secured by this Mortgage. Failure by Borrvwer to comply may, at option of Lender, constitute a default.
<br /> under the terms of thie Mortgage.
<br /> All insuranc�e policies and renewal� tl ���reol' .� h.ill he in iuriii ur�•��ptnblc� io Lr��rlor sn� l � hall in�• lude a standard
<br /> inortgage clauee in favor of �nd in forni xcce� ,tal �1�• to Lemlrr I .en� ier .liall ha�•c t Im right ro hol�l the � �oliciee and
<br /> renewals thereof, �nd Borrower sh�ll proniptly furnisl� to I .en� ier all rene�sal notice� and all receipte of paid pre-
<br /> miums. In the eveuL uf loss, Borrower �hull gi��.• � � rouipc uutice iu � h�� iu .uranre currier und Lender, and I,ender
<br /> may make proof of los� if not tnade promptl�� I �y Borroµ crr.
<br /> Unless Lender and Borrower ot6er«•isc agn•e in �critiuR , in.�ur:iu� e � �rucec�ls .hall be �tE���lie�l tu reatoration ur
<br /> re}�air of the Yroperty Ja�nxged . }�ro ��ided aucl� n,�tm;uiuu ur rr� usir i., ���•ouwui�•:sll �� ieu� ibl�• and the ,ecurity of
<br /> thie A�ortgage is not thereby in �paired . If �ucl�i r��stur:�tim� or reEuiu i� uot ecununiicaliy feusible or if the seeurity
<br /> of thie Alortgage w•ould be inipaired , the iu�uraucc Eirucee�i. �Ic,ll I ,.- u� ,� , Iii•� 1 tu tli�• .u �a, seeured I�y this :�lortgage ,
<br /> with the eYcess , if sny , paid to Borrower. I f rhe Yrut �crty i, ahamluned 1 ��� 13orrowe•r or if 13orroaer fails to reapond
<br /> to Lender within 30 days alter noiice by ] ,rnder tu Borrow er t6at t he insurauce carrier offers to settle a cisitn for
<br /> iasu►�nce benefits , l .ender is authorized to cullect und appl�� tl�c insurance proeeeds ai I.ender's option either to
<br /> restoration or repair of the Yroperty or w the .wna srcured L}� tiiis \lortga6c.
<br /> Unleas I.ender and Borrower otherµ isr �gree iu writiug, ssn}� �uci � a����lic3uon of proceeds to principsl shall
<br /> not extend or {wstpone the due dxte of the inontl� h• installnieut � reie�rred � o in paragrapl�s 1 and '2 hereof or chsnge
<br /> the amount of euch installments.
<br /> If under paragraph 18 hereof the Yroperty is xcyuired },y� Len�ler . :ill rigtit , titla� iind interent o1 Borrower in
<br /> und to anv �n�uranc�e policie, and in nn� 1 iu the pruceed. thc• rro! � tu th�• extent ui tl �r ..um, serured In• thi� D1ort-
<br /> gage imtnediately prior to auch axle ur .i��yw.itioui m.ultin�! irmu damaKc tu tha� Yrupert�y ��rior tu the sale ur
<br /> acquioition shall pass to Lender.
<br /> i. Pr�rvation �d Mmat�nm►ee of Prop�rty: Lsas�holds; Condomiaiuma. fiorrou�er �halt keep the Yrop-
<br /> erty in good repair and shall not � �ercnit or romfnit aaste , i�npainnent . or �leterioratiou uf the Property and shall
<br /> oomply with the pru�� isiwis o1 uny lease , if this \ lortg�gc• �s un s lrasel �ol�i . Ii this lfortgage i, on a condominium
<br /> unit, Bormwer nhall perform atl of 13orrower 'n obligauuns �inder t lie declarution uf condominiu�n or master deed ,
<br /> the by-laws and regulations of the condominiuui �,roject aud cunstituent. documents.
<br /> 7. ptot�ction ol I.�ndri s S�eurity. If Borrower fail< tu � �rrform the coacnants snd sgreeinents contained in
<br /> thic \3ortgage, or if any action a• proceeding is co�nmenced �vhii•li �iiuterially afiects I .ender 'e interest in the Prop-
<br /> erty , including, Lut not limitcvi to, eminen� douui� n , in.ul � ru��y , cude ��nforceu�ent , ur arraugemenc� or proceed-
<br /> ings involving a bankrupt or <lecedeut , then Lender ut Lendor '� opt ion . u�>uu notice to BorroH•e�•r, n�ay inake such
<br /> appear8nces , disburse sucl � su�ns xnd take �ucli uction oi, i � ne��•r�.ar� to { �rotei•t Lender'� int�•rest , ineludin�, hut.
<br /> not limited w, di�Lurezemrnt oi reasunable xtt,orney 'e iee� �nd rncry u� �ou the k'roperty to make repairs. Any
<br /> amounts dubursed by Lender pursuant tu this psragraE,l � i . ��•it6 interest tLereon . �6all become additional indebt-
<br /> edaeee of Borrower secured by this \lurtgage. Uulees Rorrouer � n� i Lender agrrc to other ternis of paynient , e�uch
<br /> atnounts xhall be payable upon notice froni I.ender to Borrowcr rryuesting pxyment tliereof , and shall bear inter-
<br /> ert from the date of disbursetnent at the rate etated iu the Aote uuless puyment of interest at such rate would be
<br /> contrary to applicsble law� , in which event such xmo�mtr sliall besr interest st the highest rate permissible by
<br /> applie861e Inw . Vothing con[ained in thi� � �arugr�� >6 7 � liall rc� � u � ro Len�ier to incur any ex��ense or do any aet �
<br /> hereunder. !
<br /> •. �Ctioa. I.enAer in��' m�kc ur ��au<r tu I �i� inx� {c ri•a-ouabl� � �aitru•. uEwu au� l ins��ec�tiun, uf t.Lr Prop-
<br /> ertv . Prov�ded th:tt LendPr �hxll ¢i �•t� I�cirroae�r n�,tirn � � ri„r t � � :ui � , � i � l � in.�.��r� i��n .nr�rif}�i +� � �rs ��riahl �� r�n .��
<br /> therefor relrted to Lender's intereRt in thr. YroFwrt �• .
<br /> 8. Casd�mnation. The proceeds of uny award or claim ior �ixm:�ges , direi�t or eouseyuent.ial , in connection i
<br /> witla any ooridemnstion or other txkir�q ot the Yru� ierty , ur � �an th ��rt�oL or fe�r i•om-c•��anr�� in lieu o1 �•on�letunx-
<br /> tian, are hereby aseigned and shall be paid to l,ender.
<br /> ln the event of a totat taking of the Yroperty , thr � �rocrrd.� �6n11 hc upplied to the num� .erured by this �1ort- f �
<br /> ga�e, w�ith the ezcess, if an�� , pnid to Borrowei•. Iu tlie eveut u( a � �xrtiat taking oi the Yro�x•rt �� , uiileaE Borrower
<br /> aud Lender otherwise agree in writing, there tihall be applicd to 11u• sumc ,ecured b}• this �lott�ssge .uch propor- �` Q,�#�„
<br /> ' tioa of the proceeds as ix equsl to that proportion which tlie araount o[ the sums �ecured by this \4ortgage imme-
<br /> disGely prior to the dste of taking beerE to the fair u�arket �•alue of the Yropert,}� irnmr:diately ��rior to the date of
<br /> ,-a":
<br /> 41rio�, wit� tlfe bal�ance of the proeeeds psid to 23orrower. �
<br /> If tlfe !'rop�ertv is r1»n.{onerl hy Ronow•er or if sker notice !�ti• I .et:der !o Borro;�: er t}ist thc coi.dec��nur uff�r�
<br /> to tnai[e au awarvi or rettle a claim for �ixmsgrR R(ltl'ON'PI' ift1IF � n �•N�t.�n�� t � LPn�ier ��• ithin 3U daye of thc dstc
<br /> of wctt notice, I,ender is auihorised to collect and sp��ly the proeeeci� at I .ender '. oE �tion rither to reatoration or .
<br /> t�ir of tht Property or to the au�nr seeured by this \lartgxqe.
<br /> Ualeac Lender and Borrow�er othenvise agree iri writing, any such application of proceeds to prinripal ahall
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