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<br /> f).a`rk-<•i "l;l r'Xie wr'' 7`V sniai or the Property is, Atlifit~:i„e'.aCrgllire>d by 1Jl`ilder, l.cric.er
<br /> r ]'roP]Crt} or it.4 aCquirttrari by lender, any kulids
<br /> .x 7 1 r t Pfa t:o l = t an i:,irsil oat! i, prior to t}., mic of the 1.
<br /> 1"'y l Pr,.;i.'r , tf.S sitil,' ri, application m, a eroiit against tiiC sums t.cc'umd by this 'Mortgage.
<br /> 3. Application a! Paymen''s. I"nles- ;vl:l]11c:~lrla law j)rpe'SrILr otlo-rvr i,ci all payinents re:cei•, -d by I..ert,der
<br /> ?;rs!w,,r';lser :;r t, rri,i l r,,gral:l;4 l and 1icrea'~ ~liall 1w• alrpliccl ltw I.cntler.first in payment of amounts ptaystb,e to
<br /> tr; l' orrRt•.'~ e.r under ;rsr:aaM-,) o : Otci] to 3111,rre 1w:iVahle on tie Note and on Future Advancer, if
<br /> ai;ri itV;i e a t r,rrn .:1 "iv". Note and. to the princip;ai' of I'utuTe lrivances, if any.
<br /> 4. Charges. Liem. Borrower na% iAi taxes', ,ssrse mints and outer charg,s, fines and irnl;r~s.:ior;y F,ttril,
<br /> elt% lc t~• tare I' u,?v::tt trick .:a,-r att:airr 'n priority over IhiS N1ortgagt,, and g7ouivi rents, if all%,, at l;r nder's
<br /> eron in r manner pro idfd u niic:- par,,%griph 2 Hereof or h,, Borrower making pavinent, when due, directly to
<br /> L^ the payee thereo". Borrower "hall promptly i arnkh to Lender all notic", of amounts due under this par igraph,
<br /> :ant' in r.' l c .!nt Borrows ~haall inakf: payrinomi. directly Borrower sluill promptly furnish to Lender receipts evi-
<br /> <Aer.:fing s iclr Ir.vymr;)ts ?9r,r over ~rIhall promptly difieiiarge any lien which has ;:i,iorit.y over this 'Mortgage; pro..
<br /> vioce, that f~urr« v, r l°, not i,= ti±;uire.e:l tc discharge atiy Bitch lien so Imig as Borrower shall agree in v riting to
<br /> µ :he- pa►yrrir.rit, of 1,++: rt;;ia i* r : rrcure^x,i by +:udi lien in »i manner :acceptallle to Lert.raer or shall in ge>ori faith contest
<br /> such lien by, nre;eftr.. en;rarlttiieSi+. of outdo ;iin in, legal proef-eiiripz ivhi,ch operate to prevent the enforcement of
<br /> the lien. r for~etr rc: of t+a~, properl:y o my part thereof.
<br /> 5 Haz=8 Insurance 13.orrow'c°r si ill kei•,p tic iciilvr^vesn]erts now existing or hereafter crected or the Prop -
<br /> Wa Fr , f rah avxsl 1(m , b :ri hazMrd r.Auded within the term `'extend' it coverage". and Burls other hazards :a
<br /> Aer -%,sv° mecrn,e zm . i : cl .amoun s .aril for s,,ich pcriv.i_ :a~ l-antler an iy requirci provided, that 1,ender shall
<br /> l) y
<br /> w that ih( :ainoont o.:~UCh ('01 eragtC ex(Ted that, artiount of oovPl',"tsyi: required to l)ay the 8!irC 5 secured
<br /> tI ~ !,tqr•, air
<br /> The ,M;17:c3rM, - l)r0V 1dirXr t.e inwura:ice Ott%h lit: vhrrsen by x'nrr,,,wer s Intret to approvr.l by Lender:
<br /> p OVs dcd,sejelh rsl>l v, ae t;s a;; no! 'tae osier asot]ablI - withheld. Al': prerniAnnis on instirancc Iralicie; ;hall be paid
<br /> rat. I.r rie;t is optton in the tna:i*aer pro ildtii trotter p:arhgraph hereof or b Borrower making paver- it, when due.
<br /> directly to tile" i.it uraiice carrier.
<br /> In the event any policy is not., renewed on or before ten day; of its expiration, the Leyider, to protect
<br /> its intere-A. rnny' procure insurance on the. improverneriLs,'pay the premiums and such su,n shall become
<br /> i inieditate-ly due and payable with interest at Cne rate set fort],',: in said note urtil paid and shall h
<br /> secured by this Mortgag,z: Failure by Borrower to comply inuy, tat option of Lender, constitute as de3frault`
<br /> und(r the t.e.rrmi of this Mort-gage.
<br /> 11::nstir:ana t p )hcie: iced renewals thereof sh al; b,z in form ae tags";:able to Lender ;:nd shall include l .,t;andanl
<br /> martgtag; , d:ause in favor o;' easel in fora] acceptable to Lender. Lender iiiiali have the right to hold the Bali<:ie:s and
<br /> renewals theree, aarrd Borrowev shall promptly furnish to Lender tail ~&newal notice.,, and all receipts of paid pr,,r-
<br /> miurns. In brie c:v~e of lass, Borrower shall give prompt notice to the insurance carrier and Lender, an,,i lender
<br /> may make uroof of lo-.s if not inade pron]nti-y by Borrower,
<br /> 'Unless Lender and Borrower otherwise agree in writing; insuran,'e proceeds shall be applied to restoration or
<br /> repitir of the Prczptr>y damaged provided such restoration or reps,ir is econonacaliy feasible and the security of
<br /> thl-4 Mortgage is riot thereby impaired- If such restoration or repair is not economically fea:ible or if the secur°ity
<br /> of this Mort gage would be irnpaircdi the insurance proeceds shrsil Ix. applied to the sums secured by this. Mortgage,
<br /> Nvith tht• e-itcm~; if .any' paid to Borrower. If the Property is abanjonoi by Bormwer or if Borrower fails to respond
<br /> to bender within 30 clays sifter notice by Lender to Borrower that the insurance carrier offers to settlea claim, t.or
<br /> Msuranci benefits. l..trdcr is authorized to eollect Arid apply the insurance proceeds at Lender's option either to
<br /> restoration or repair of the Property or to the suns secured by this :Mortgage.
<br /> Unless I ender and llt+rrow'er otherwise ;agree in writing, ara•v Burt application of preceeds to p;incipH.l shall
<br /> not extend or pcotpone the due date of slit monthly installments refert•ed to in paragrar ns I and 2 hereof or change
<br /> th,<<* amotsat of such installments.
<br /> If under paragraph i~a hereof the Property is acquired by Lender, all right, title and interest of Borrower in.
<br /> and to any Massaro. irk t olicies and in and to the proceeds thereof ('.o tlae extent, of the shins secured by this, Molt-
<br /> gage irnmcdiate'ly pnor to such sale or acquisition) resulting from damage to the Property prior to the :;ale or.
<br /> acquisitions shall p al;s to I,endcr.
<br /> S. Pre>zervation and A'laintenance of lhopertyr Lectseholdin CondoniWunm Borrower shall keep the Prod-
<br /> arty it] gciod repair and s;if.ll not permit or commit wash, impairmvnt., or deterioration of the Property and Shidl
<br /> comply with 6a provisiom of any lease-.; if this Mlort.gage is on a leasehold. If this 'Mortgage is on a condominium
<br /> unit.,; Borrower thAll perform. all of Borrower's obligations under the deeluration of condominium or master deed,
<br /> the byAawa and regulations of the condominium project and constituent documents.
<br /> 7: Protection of Lender's Security. If Borrower fails to 1-erform the covenants and agreements contained in
<br /> this ?:lart.g;age, or if any action or procceding is commenced whic:lr materially affects Lender's interest in the Prop-
<br /> erty., irie,'udmg, lnat not lb-nAkd to, einiaient domain, insolvency, code enforcement, or arrangements or procee~ k
<br /> inp inva ving a bankrupt or decedent, then Lender at 1,Ander's option, upon notice to Borrower, may make such
<br /> ap-peamnoes, disburse such surris and taste such action as is necessary: to protect Lender's interest, including, but
<br /> r,ot limited tan di.sburse:rnerit of reasonabi;e attorney's fees. and erit.rn upon the ]Property to make repairs. Any
<br /> arnoui~trs diFbjned by I~e;1&tr pursuant to this `sarug{riph 7, with interest thereon, shall become additional indebt.7
<br /> %.4nes. of Borrower "Ctir' 1 by this \Iortgitge. Unless Borrower and Lender agree to other te-ma of payment, such
<br /> amounts ,,]].ail lye payable upon notice from Lender to Borrower requesting payment thereof, and shall bear inter-
<br /> from the date of disburse!ntent at the rate stated in 1:he Note unless payment of interest at such rate would he
<br /> contrary to applicable law, in which. event such amoun',r.; shall beau inte:rett at the highest rate permissible by
<br /> applicable lraw.. ?Nothing; contained.. in this paragraph 7 shall require Lender to incur any expense or do any art
<br /> herreund er.
<br /> It. h sptefictr. lxndrr ins) w,Ake or caut!e to lx' made r~-asonablc entrees upon and in.speetiorts of the Prol
<br /> errty, provided that I-,ender shall g>ve Borrower notice prior to nvy much inspection specifying reasontible cau.e
<br /> therefor odatkA to Lender's irrtere-vt in the Property.
<br /> 11. Con.aie mnatioia. The proce es of any award or claim for damages, direct or consequential, in mrinectit,n
<br /> with imy condemnratiora or other traking?of the Property, or hart thereof, or for conveyance in lieu of condernnz:-
<br /> t:ion, are hereby aas:4.gned a ml shall be paid to tender.
<br /> in the event of a total to]ring of t.het Property, the proceeds shall be applied to the sums secured by this Mori,
<br /> gng±e, nrit~i the c-aaaerae, if sr~y, uaaid to Borrower. In the" event of a partial taking of the Property, unless Borrower
<br /> b>id Lfirader crtlirr+aiasa agr+se i.n writing,''there ahs}l, t applied to Ow sums attuned by this Mortgage such propo;•-
<br /> tion of the prooeeds as is equal to thst proportion which the'smra vat of the sums secured by this Mortgage imm r
<br /> dietely prior to the date of taking be 'to 04e fair m rket :vn ue of the Property immediately ;briar to the date of
<br /> taking, ,with the Wainer of the proceeds paid to Borrower,
<br /> If Cie Property is abandoned by Borrower or if after notice by Winder to Borrower that the condemnor vffe:•s
<br /> to make an nws,rd or settle a claim for damages; Borrower fails to respond to Lender within 31 days of the dw ~e
<br /> of t18ch no i,-t, Lender is au:.}iorized to collect and splriy the pruce&Js at Lender's option either to restoratioi. • er
<br /> tpaa o! tehe Property or to the sums recured by this Mortgage
<br /> Unle:iN l,.endtr and Borrower otherwise agree in wr•iti-ng, imyr touch application of proceeds to principal sha J
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