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<br /> r ' : Zf pnd,er Paragraph ] 8 hereof thc Property is sold or the Property is otherwise ncquired by Lender, Lender < ` r `.
<br /> shall apply, no later than .,immediately i�rior to ;tha salc of :the Pro�terty or its acquisition Uy Lender, any Funds �. ` ' , � ;,�d
<br /> held by Lender at the timG of apPlication as u eredit against thc sums secured by this Mortgage. u '
<br /> ; ; 3 Appheahon ; of Pa�iaeals. ; Unless a�PliGablc ;luK� provides otherwise, all payments . received by : Lender . � , � ,� {�.��'� ��' �'k�:
<br /> under Eh� Note and, paragrapT�s. l, ssr�d 2 He�ieof slisll ,be applied iiy I.ender first' in puyment of amounts pnyable to �1 � y � ; ,� �<�a�A,�
<br /> Lender by,',�artower uqde; �aragmpli 2 liereoE, then to iaterest'payabla on the .lVote , and on Future Advances, if t "� � '_t �,k''��t�,
<br /> ' nnyr an,d thep to t'h.e pr�naipal o£ the :Note sncl .to tlie t�rincipal of Futu;e Advances, if any. � .Y; , �� � ��' ��,��„ '�'
<br /> � : 4. Chcrges ,Liens. -_Sorrower, slisll pay,all taxes, assessments and nther charges, fines and impositions attrib- � �N ' + ;'La� � '�
<br /> � u ble to::£he Pro ��erE which ma attain a < riorit 'over this Mort s e and round rents, if an st I:ender's � �f ` � � " `` � � �. s ���'�;`
<br /> � P. Y 3`' P Y P P> , B Y� ,.t � r :�, � ':'���
<br /> � optioa in' the=manaerprovided' under psragraph 2 hereof or lay Borrower making Payment, when due, directly to � ` ���.+� �ry?
<br /> �� the payee�theteof: Borrower: ahall "promptly furnish tio Lender all notices of amounts due under this paragraph, � ; � a F� �,� ',
<br /> �' and m the ;event Borrower- shall make payment directly, Borrower shall promptly furnish to Lender receipts evi- ,-� >.' r�, "a,v� ""�r?
<br /> t dencing'such, payments. Bor;ower shall pioml�tly discharge any lien .which has priority over this \-fortgage; pro- � ' ,� , f �� 4 ,���,
<br /> '�� . Q vided, that;Borrower.ahall not be required to discl�arge any such lien so long as Borrower shall agree in writing to ;�' �"` „ �+��3�
<br /> M the-payment of f,he obligation secured by such lien in a �nanner acceptable to Lender, or shall in good faith. contest '� ' � ` r , � + s,
<br /> �j s{ich' lien ' by, or defend enforcement of suclt lien in, legal pmceedings �vl�ich operate to prevent the enforcement of "�� f+ � , � ? � " *`�r'
<br /> , � tke�lien or for�eiture of the-Property or any parGthereoL i,', ��_ ' � "��
<br /> $ p ' S:� Hazard Insuraace. 'Borrower shall keep the improvements now existin� or lieresfter erected on the Prop- � � ? �
<br /> � � erty inaured against 2oss by fire, hazards included within the term "extended coverage", und such otl�er hazards as � � � � fx", ,`�� �,'�a' ,
<br /> i ` L'ender may requi;e'and in such amounts nnd for such periods us Lender 3nay require ; provided, that Lender shall b 1, ; R � ' r �
<br /> � �. not require'thstthe amount of such coverage exceed that amount of coverage required tio pay the sums secured 'by � �,.�.s� r ,w
<br /> ^ this MorEgage. �
<br /> � The insurance carrier providing the insurance shall be ehosen by Borrower subject to approvn! by Lender; x " ���^'" f�� "
<br /> provided,,thatsuch approvaLshall not be unreasonably �vithheld. All premiums on insursnce policies shall be paid � ' " , h"; v;�3�,�;�`�
<br /> atLender's option in the manner provided under paragraph 2 hereof or by Borrower msking payment, when due, �, " " �;� }?,�"�k`�A
<br /> directly to:the insurance carrier. � t� y �� �.«��'>
<br /> In the event any policy is not renewed on or before ten days of its expiration, the Lender, .to protect ' ; � �'[� �z+�� �z ���'� '
<br /> its interest ma rocure insurance on the im rovements p ' ` "`'"` �
<br /> , y p p , pay the remiums and such sum ahall become � ; � �;� «� x* ,"
<br /> immediately dne and payable with interest at the rate set forth in said note until paid and shall be � '"_ �', < ' ;"��+��ra� �
<br /> secured by this Mortgage. Failure by Borrower to comply may, at option of Lender, constitute a default � ? t " *� � �;�����$
<br /> � ' under -the tezms of this Mortgage. � � ¢ ,�,� , u�J�
<br /> ' " All insurance polioies and renewals thereof shall be in fonu acceptable to Lender und shall inchide a standard '�'sx` � �!� � � ��� a 4� � �
<br /> mortgage alause in#avor of and in form scceptable to Lender. Lender shall have the right to hold the policies and � '�; + 4� ;� ��
<br /> renewals thereof, and Borrower shall promptly furnish to Lender sll renewal notices and all receipts of paid pre- �, s � � �"f�.+, S � �
<br /> auums. In the event of Ioss, Borrower shall give prompt notice to the insurance carrier and Lender, and Lender ; r ='„;� ;�`i�-�+�r` �
<br /> Yix � ;ze"Xk5 .
<br /> may make,proof of.loss if not made promptly k�y Borrower. � �. # i � %<; � ,�¢��t,�+ ..
<br /> . Unless Lender and Bo;rower btherwise agree in writing, insurance proceeds shall be applied to restoration. or � ,. �3 t � , � .,;F ,
<br /> � repair of the Property damaged, provided such restoration or repair is ewnomically feagible and the security of �r , v,+yf��,� *^� '
<br /> , " this Mortgage is not thereby impaired. If such restorntion or repair is not economically feaeible or if the security ":''*��„ 3', N � ,r
<br /> of: this Mortgage would be impaired, the insurance }�roceeds 9hull be applied to the sums secured by this Mortgage, - � ' ", drs`*,;�`.�� �
<br /> with the excesa, if any, paid. to Borrower. If the Property is abandoned by Borrower or if Borrower faiis to zespond � ' ��' '4 '�'"* � � .
<br /> to:Lander within-30 days after notice by Lender to Borrower thnt the insurance cnrrier offers to settle a claim for � ; v �5 ��r� ��'`�,� "
<br /> � inaurance ,beaefits, Lender is authorized to collect and apply the insurance proceeds at Lender's option either to � ' ' 1 � :'' ,�� ,� r , �
<br /> restoration_or, repair of theBroperty or to the sums secured by this �3ortgage. � �`�z + ,, ,,;��5�� � }
<br /> IInleas Lender and Boriower otherwise agree in writing, any such apphcation of proceeds to principal shall x ", � ,�"� rr,t � ��'-����
<br /> n o t'e x t e ri d o r p o e t p o n e t h e d u e d a t e o f t h e"m o n t h l y i n s t a l i m e n t s r e f e n e d t o �n p a r a g r a p h s 1 n n d 2 h e r e o f o r c hange ,� ° � s c� ,µ��i,
<br /> the'smount;of sucti',inatallments. ; k � � " s �+ �,n,�r
<br /> � :I£ under paragraph 18 hereof the Property is acquired by Lender, sll right, title und interest ot Borrower in ' " » w �; .; #x ,� �
<br /> and to any insurance policies and in and to t21e proceeda thereof (to the extent of the sums secured by this Mort-- �L f � � `;'��r'��'�
<br /> , gage 3mmediately prior to ;such sale or acquisition) resulting from damage to the Property prior to, the sale or r , ' r ' ' `« �y'�+±�
<br /> acqweition sliall pass to Lender. _ . Y �^'�r ,x ° �
<br /> ' ' 6. "Pzesezqation �d Mmntenaace of Property; Leaseholds; Coadocniaiums. Borrower shsil keep the Prop- � I" 3i�
<br /> � , erty in good repair and ahall not permit or commit waste, impairment, or deterioration of the Property and ehall � � " �.` 4 �K % ��`}" Fw "�
<br /> ` ' compiy:with the provisions of nny lease, if this Vlortgage is on n leasehold. If this Mortgage is on a condominium � ` ^�`�` r ',%,";
<br /> ` unit, Boerower shall pertorm ail of Borrower's obligations under t.he declaration of condominium or master deed, } � '`� ��� � ``9�
<br /> the by-laws and regulations of the condominium project and constituent docucnents. ` _ r '� ' �
<br /> 7. Protectioa of Leadei s Security. If Bonower fails to perform the covenants and ngreementa contained in A '_' '' j ��'
<br /> this Mortgage, or if any action or proceedin� is commenced �vhicli materially affects Lender's interest in the Prop- a s ' ; ` 4'' �'�
<br /> ert ingludin but not :limited to eminent domain insol�enc code enforcement or arran ementa on roceed- `x ' ' "" '
<br /> Y, Sr . � > Y> , B P � ` t � � ,. ,`�`r�r
<br /> , ings involning a bankrupt or decedent, then Lender at J.ender's option, upon notice to Borrower, may make such , , ,, , ,. -i.
<br /> appearances, disburse sucl� sums and take such action as is necessary to protect Lender's interest, including, but ` 5r ' '';� �;.,��''��_�
<br /> not limited ;,to, diabursemeat. of;'resaonable attorney's fees and entry upon the Property, to : make repairs. Any } ' "`_ �'��"�
<br /> '� � t
<br /> amounte diabuzsed by Lender pureuant ta this paragraph 7, witli interest thereon, ahall become sdditional indebt- ,, ' ; ' :�5"^����
<br /> edness of Borrower,secured by this Mortgage. Unless Borrocver and Lender agree to other terms of payment, such " � xx �r„��"'�+ '
<br /> amouafia sha]I lie payable 'upon notice from Lender to Bonower requesting payment thereof, and shall bear inter- �' �
<br /> � � kk v, e��`EY�
<br /> �ontraryp to�pplicsble aw��imn wh ch even$u h�ain�o nts shall bear interestnat the l�igheattrate permiseible by � � � � � b , ��� e� �'�,��� �°�`
<br /> ap,phcable latu Notfimg containeti in tUis paragrapli `7 shnll mquire Lender to incur any e�cpense or do sny act �,+ � ` x��
<br /> �1CP81111(YCP ' < .� . , � �_ . . . . .. .. � . d r * -. ° tr v��
<br /> ` 8�, Imp�c4oa. T,ender may ma&e or cause to I�c madc reaspnablc entries upon and inspections of the Prop- ' �
<br /> e � mv�d�t�hst Lendes shall ve Borrower notiee �rior to �nv such `ins pe y' g r 4 � '� ''%"'�
<br /> �y` p gi � pection s cif m reasonable cauae �
<br /> -, t�e`refo���eid to 3�ender's interest in the Property: , ; ,;�� ?T�
<br /> � � "�`�� 9"°� Camdeaemahon. " Tlie proceeds of•any award or claim for damages, direct or conaequential, in conneotion � ""Y`� ��
<br /> �� 'k tyatll 'sriy''Iqii��thnstion o; ofher-Lsluag of the: Property, or part thereof; or for conveyance in lieu of condemna- + �
<br /> �_, .�� LYoa, hei�eb�y as�p�aed ,and shsll,be paid to Lender. , , , °' .
<br /> 4�, �e:eveat o� a kotal Lak�ng of the ProperCy, the proceeds sliall be applied to the sums secured by this Mort- � , �
<br /> �" ' ���.� �t�l�t�`�x�, if sny, :pa�d to $or�ow"e.r. In,�iie eventwof a partial? taking of the Property, unlesa Bortower ; � , � � ,
<br /> �y��� " �E �Bpde�';9'�e agre��lgrWxiLuig, �herer�ha.11 be�appl�ed'<to.�lie sums'"5�ecured by Lhis::Mortgage such propor-
<br /> y., i r'i .v� } rFa��a+ .p �r t� . . . � � ' � ��.,C
<br /> o- 5�,4 �tomi d��th�naa�$s��e��equs} �,o�&a�.p�portaon wh�ch t1tie, amovnt of the�sums eeoured by this Mortgage imme-
<br /> * u,: � , tlsetta�e,�of talang<be$is �o �e'la�r,maike,� vaaue o4tiie T'ropertg ,iromed�ately prioz to the date'of '-
<br /> *�"'�,, < cG�A�
<br /> �. : >�� � ;a�Lhe pmcee��p�d tai �orrovirer �. , . . . .. ,•.: - ,
<br /> x_"".` , ���.�. � ' a5�tdoa� bq;Bo�ct�`cdet;:or if itft�s notiice:,b�y Lender to BorYomer that .the condemnor offera
<br /> �, r 'La ,Y�r�. al�m�3'o����tnsg�';��orrower fa�ls t,o respond to Lender vaithin 30 days of the date
<br /> ., � s E�� authonsL�d+�" " Ilect��d �s�ifi'!y tt�e priTe��%at Lender's optioa either to restoration or
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<br /> r ;. , , ��,� , tid'��',},1D�8, ` `11�ree �+ ivi4Eiiig, any such application of proceeda . to principal shall
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