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<br /> � If,under nara'grsph IS hereof the ProPerty is sold or the Property is othenvise acryuiced by 7.ender, Lender �' + 3 ;.,� �
<br /> shall �app'ly; no lat¢i tliamimmediately prior to thc:salc of the Property oc its nequisition by I.ender, any Funds � ' _ � ��� , '
<br /> l�eld by�Lender .af�the tima ,of application ass crediC against tl�e suins secured by this Mortgage. �" , � r* „�+ ��''i�,�� �' .
<br /> : ,h .3. Application of> Payments. . UnIess aPplicnble lam provides otherwise, nll paymenta received by Lender �� � �� s �y� Ya�� , y- , �+
<br /> under 6he',Note and •paragraphs :l and Z hereof ahall t>c applied'by Lender &rst in payment oL amounts payable to c � ; ,� , � ni'�
<br /> I:eader by .$orYower under'psragrapl� 2' hereof, then to interest paysble on tlic Note and on F4itiurc ABvances,, if' s ,'"�� ��1���� x .
<br /> ttny; °and theri to tHe pnnbipa} `of the. Note nrtd to tl�eprincipst of Future ,Advnnces, if nny. 7 ' ?�ita�t �-•`�.z' w,���
<br /> u blertoh he ePro �-�,wh cb zriar ga�t�aln5a a riorit 4�over�thisnvlort a�e�esind arround r nts i f anositatnLender's. f �' �":;�`�`'`��-�,'�r� .
<br /> .� . . PertY. . . : . Y , _ P Y. , g.<8 , g , � Y> z »r r�.�.��,�s�
<br /> ' op�ion m the msnner provided, under �aragraph 2 hereof or by Borro�qer �naking payment, wherr `due, directly to � � t '.. x >�.„ �� `�
<br /> � the pSyee �hereof. Boaower shall promptly 'furnis6 to J.ender nll notices of nmonnts due under this paragraph, r� , �,,�� � �. '-�,,
<br /> � and � the event Borrower shall make payment directly, Borro�r•er shall promptly furnish to Lender receipts evi- ': ` r`.� 's� �;"�k t � ��s
<br /> � "-� dena`sng euch 'paymercts =Borrower shal[ promptTy discliurge uny lien �vhich has priority over this Mortgage ; pra- ' ' � ` ' ��-��'�' ��' �m' ,
<br /> � {nded, that Borrower ahalI not Fie required to discharge any such lien so long as Borrower shall ugree in' writing t,o � � '�� � , �y�` �'��� ' �
<br /> � Fhe"psyment of �he;otiligation 'secured by sueli lien in 1 manner:ucceptable to Lender, or shall in good faith contest p � '. f ° F<"�'*�� �` �Y
<br /> � stich lien by, oi deferid enfo 'rcement `of suclidien in, legal proceedings which .opernte to prevent the enforcement .of � �� � ��fi�.�'���� ,�'�'� .'
<br /> the I"`ien or,forCeiture of f,h'e Property or any �Sart tliereof. ' � ��'�' � � " y� � `
<br /> � 5 Hazard laeunmee. 'Borrower shall keep tLe iinprovements now• existing or hereafter erected on the Prop- , ' "� � 4 t ; x' �"�"� • '`"
<br /> OO e{ty insuied rsgainst loss by: fire, hazards included within the term "extended coverage", and such other hazards, as �" ` , 4� t, r n� ;����c ��
<br /> � Lendermay require und in such amounts and for siicl� period, as Lender may require ; provided ; that Lender shalt , �� < {"uaa4. � �z ,,� �t�}:'
<br /> uot require that the smount of such coverage e�cceed tlint amount of coverage required to F�ay the sums secured'by ,r r ; �,��; ���,s �,�
<br /> this'Mortgage. { = +�KJE"�!7�j ;a�n,� , .
<br /> The insurancc carrier rroviding tlie insurauce shall be chosen by Borrower subjectto approva! by Lender; � '� � y �, '�5�>�' w&�.;.� ,#, „
<br /> provided, thst such approvul 'shall not be unreasonably �vithUeld. All premiuma on insurance policies shall be paid � ,s �`"w�,��p� : ,y
<br /> at Lender's option in the manner Nrovided under paragmph 2 hereof or by Borroryer making payment, when due, , , ,; ,� � � r,.�.�3�.�'"�,
<br /> directly W the inaurance carrier. . x ti , � y �r��x���,�{
<br /> Iri the event any policy is not renewed on or before ten days of its expiration, the Lender, to pmtect y ,, � , *�r,,;,����" �^' `
<br /> 1 its iaterest, may procure insurance on the improvements, pay the premiums and such sum shali become � '� ` � i'� ,`�r. �'; '.
<br /> immediately due and payable with interest at the rate aet forth in said note until paid and shall be ` , , :" � �;� r�„�?v��,,�. ,
<br /> �ecured, by this Mortgage. Failure by Borrower to comply may, at option of Lender, constitute a default �'�• � �?�' ` � �� �'�
<br /> 3 ,� ,� z� .,,.�„.�5:�x � � �.
<br /> under the terms of this ' Mortgage. r 2„ �,LA, ,, � al��"s�
<br /> All insurance policies and renewals thereof shall be in fonn acceptnble to Lender nnd shull include a standard fi ','i �� � �4*.,���.�,��
<br /> mortgage'clause in favor of and in form acoeptable to Lender. I_ender al�all have the right to hold the policies und ,� t ii , w�,"`�F�,� r
<br /> cenewals"thereof, nnd Boreower shnll promptty Iurnish to Lender all renewai notices and alI receipts of ' paid pre- 4 '` � s U�'"4�, ,"u � ' ,.
<br /> miuma. In the event of loss, Borrower shall give prompt notice to tl�e insurance carrier and Lender, snd Lender � < ` �, "M ,� ���'
<br /> may 'make proof of loss if not made promptly by Borrower. - ` ` �r °,;�r;k¢'� �
<br /> - IIalees Lender and-Borrower otherwise agree in writing, insurunce proceeds shall be applied to restoration or r` � < '� �� ��
<br /> - repair of the Property damaged, provided such restoration or repair is economicnily feasible and the security of r �'��- `
<br /> : w. � x" r��rr+�� �. .
<br /> � " :this A�1orEgage is not tl�ereby impaired. I[ such restorntion or repair is not economically feasible or if the security � r $'w �;,+ w�S ���
<br /> of thSs Mortgage �vould be iinpaired, the insurance proceeds shall bc appiied to the sums secured by this Mortgage, � , s ��'a�� ��_ �`�''
<br /> witkthe 'excess, if any, psid to Borrower. If.the Property is ubandoned by Borro�ver or if Borrower fails to sespond ' � r; � $`�'"f `'
<br /> �" ro T.ender within 30 days nft.er notice by Lender to Borrower tUut the insurance carrier offers to settle a claim fory � "' � " F ��� =
<br /> " �� insuaance�b�enefits;�:I.ender �is suthorized to collect anci apply � the � insuronce proceeds � at Lender's �option either to �� ` '� * � �'ar i g � '
<br /> rr�toration or re sir of the Pro ert or to t6e sums secured b this �Iort a e. � ' a� �a�``'��� "
<br /> P P Y Y B 8 :r r ��. s �' � F
<br /> ' IInless Lender and Borrower othenvise agree in �vriting, any such applicntion of proceeds to principal shali ; �*'�.�,,'��fi ti d
<br /> not pttend or postpone the due date of the inonthly installinents reFerred to in parngraphs 1 and 2 hereof or change , " z '� � , ,���j%,'* �
<br /> flie amount of euch instsllments. * ; `' `+ ` "` � F�
<br /> � ` ' If under paragraph 18!hereof the. Property is acquired by Lender, nll right, title and intereat of Borrower in � TF4= 4�,�. �yf�;`�tq�,��s
<br /> and to any insurance policies and in and to the proceeds tliereof (to the extent of the sums secured by this MorE- � ..F
<br /> gageunmediatelyprior to such sale ar ucyaisitio») resulting from damage to tl�e Property prior to the sale or �` ;e ' � � ; �r� ;��4,�
<br /> acQwsition shall pass to Lender. ' ` �^��, `r� 1�.�'�,
<br /> 6. Preservatioa �d Mmaten�ce of Property; Leaseholds; Condoxniniums. Borrower shall . keep the Prop- � , 9y� � t" "w`a�^�+ ��
<br /> erty m good repeir and shall not permit or commit waste, impairment, or deterioration of the Property and ahaA � " �„� � �' �'f`"���+
<br /> ' �;com 1 with the rovisions of an lease if this ylort a e is on u leasehold. If this i�Iort a e is on a condominium � ' ,j �` � :+`�'� ��r-�* "�
<br /> PY P Y . S B g 8 � � , �r� a�a�. �M .
<br /> � : =unit; Borrower sball perforen a2I of Borrower's obligations �mder ttie declaration of condominium or msster deed , � � �"'�'� "r y�*
<br /> the 6y 7aws ttnd regulations of the condominium project and constiituent doauments. ' ` b`' ���`��`�s,�
<br /> ° " '' ' 7. Proteelioa of Leadez's Security. If Borrower fails to perform the covenants und agreements contained in � i , ^� �,����
<br /> z " ' ' . ttus �Iortgage, or if ang sction or proceeding is commenced whieh materially stTects Lender's interest in the Prop- � j 4��� �';F�,�,�x
<br /> erty, including, but not limited to; eminent don�sin, insol�ency, code enforcement, or arrangements or proceed- � s' '' °���� .
<br /> ;. inga iavolving a bankrupt or decedent, then Lender at I.ender's option, upon notice to Bonower, may make such r `�h ; ��w`�� , �
<br /> appearanees, disburse suel� sums and take sucl� action as is necessary to protect Lender's interest, including, but � ;uk.h����� ""
<br /> bot :lSmited to, disbursement of reasonable attorney's fees and entry upon the Property to make repairs. Any , r, 4,,,>�
<br /> amouaEe disbursed by Lender purauant to this parsgraph r, with interest thereon, sh911 become additional indebt- � '�s , � ;`' ,y��` r'�
<br /> ednpss of Borsowec secured by this �Sortgage. Unless Borrower und Lender agree to other ternis of payment, euch F � 1 ,a�"�.�''��� '
<br /> r.-. . P Y Po 9 g P Y , . .� `~ _ ° � ` �y��s''�,`
<br /> amouafe s1�s11 be a atile u n notice from Lender to Borrower re ueatin a ment thereof snd shall bear inter- , �� ,Y � y �.;
<br /> � est from the date of disbuisement at the rate stated in the Note unlesa payment of interest at such .rate would be a � ' n; s �`:t< pe
<br /> ,-� cot�traiy •to sppliceble law, in which event such amounts shall bear interest at the highest rste permissible by � ' <{ .� `' � �`'
<br /> l�ppheable':law. Nothing aontained in this ParagraPti . 7 shall require Lender to incur any expense or do any act �' x � u`�r ��r� �,�'�
<br /> hereu:►der. .j
<br /> _ .. 1 . i . .. _ . . . . . . . . '.
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<br /> . ". ... �. . . .. . � � . :. � . . . . . . l. 1 'l .LMbd p {•� 'nj. .
<br /> , 1 � � 7napoehon. Lender muy meke or cause to he inade reasonable entries upon and inspections of the Prop- ' w';,��� , ° „';�
<br /> : „ ��.�mxi`tled. thst_Leader shalZ ,giYe Borrowcer notice �u•ior to au� such inspection �pecifying reasonable cause ,�y,,
<br /> 2' 2'8� �fr�,.tOT�II�CI�fl11It8lCSt1II� tJ3CPIO�,lE1'by. ..�, .�. • � ... . , . � .� � . � , F :� �tV,$ .a f�
<br /> � ' _ "^ Ccrademnefioa. e ceeds of ii award or cisim for dama dicect or conse uential in connection "�t r `r=�`�`�^d
<br /> ,� x � e <r �.. Q� ,.. . �� . _ ,_ �� .
<br /> � d5t�`� ��bn��'tron Or other taking of tHe property, or part tliereof, or fo� conveyance in lieu� of condemna- ' " fi ` d'"' - ,�`"'��' •_ �.�
<br /> �' 3 , *
<br /> � � ` t�on stdher� i`gqedsud�-aHalTbepaiii� toLender. � � � � , � � , s �s � '�
<br /> ,3t ' ` � s Fat tlie'�event�of:�a total tsking of the Property, thr �roceeds 'suali be:`opplied 'to the sums secured by this Mort- � �
<br /> SY" � '� :"' W �R, bM` +, ., . . . .. . . s y �.
<br /> a ; fi,y ,� M �ra�t;��8�qe�s, '£ any� paid to ;Ba�oweg In �l�e,.event�of a parCisi taking of the Property, unless Borrower ; M1 r
<br /> ���w�,� , , '���er ,�isg ggregin�writing, there shalt b�z ap�plied �to the suins 5ecureii by this :�iortguge such propor- k ; ` �p
<br /> ����5,� � � . ,��"'�" �ok8de�s�3���s��`thst�pz`aPo�on wh�ch tl�e amount of the, suma secured by this Mortgage imme- . , ., � +r
<br /> 4 �( �,� - �d�ri� b�at�s'",t'� the f�irX�grkeC valu� oE tttc 'Property' iminediately prior to t6e dste of � ` �;
<br /> ��`< �;wi ` :` , 1 � �S`i'�.t�e �eeaa�e'�d 4a Barr�wer ' • . � ' .
<br /> ,���"�,'��- , � ��� � " b� � ar�et xt�erttatiee' b Lender �o Bo_rromer that the condemnor offers °
<br /> �+ r � , ;��1�'a�a�m`" .�"o� y "` ';;e6,".Borrower �ai1s to �espond tio Lender �vitihin 30 days of the date �
<br /> >��'y;�`3„�r� " r �, ..w "' �� ���`j,ttYs� � "�.' ec ' �A�SIY' �i� proceeds at �ender's option eitlier to restoration or ^ ��
<br /> �t`,�.� * n ' ` 11f$t�� � , Y1� ���f1� � x��li3br��p�Cg�ge. ' � _ �: � ` <}r �
<br /> ,r w. � �+"+� � 1 � c w r '. ,at �YY v :,, . . � i. � � � . ts�
<br /> � , ° r� �$' B6rt�wei : ,. M sgtee��tt, vvrti�ng, anp saah, apphcstion of proceeds to principal ahall '
<br /> A,,�.'�d.ua . .. . :�a::t . ..s. :• '.. " u F# er.YM 'A: . ,. ,. .; . . . , . . .. . . . . . � � .. ..; s:
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