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<br />I,., n~~:' 1-~,_,.i9ir..,-. s..~.:_ ,.3~?.nt:. 5 .. ~..v. _._ .._ - _.. ~.. >,~ _ .__ -. ,.•. -.. s. u. _. ._.. _.,.. ...,. ..
<br />n} , a°,a !'IF. _ fo ? - r. n: itx:..,f r}:c ~ ,t.- .er.; _ , - .. ~! ~., r _ ,. - - _~~_ ...~}°.
<br />~$, ~aazges; ~ie~. Ba:, v,-ter f<::t pa• .. ,she=, use~s;,~er,rs ax: t u..._v, ,.,,a=K:_t ~_ .<:.•I i ; :,os.t;nsas a;;rat~-
<br />ut~.hle tv the Property whicl, ma F~ttairt pria.~ .__.. <<.,~ sir,;-tz`._ .__ groua<i ren~ it a,t Under=
<br />option in the snsnncr provided un,'ier l:aragral,#t ? I~erev€ r;r 1>- l;orra~c•er ~nakinn pad-±nent,;.vlteru due, direc+ly to
<br />the payer thereof. Bt~rra;s•e:• shall prampti~• fu.~=.si;*v I,enE:~r v;l rctifes r~i amounts dete :a ,cler tiji~ paragraph,
<br />and in th s event B ~r~wer steal! t~v~n }aas~sieni dire~alti . iSSrroc~=•r slwil pron:};tl; furnish to ?ender reveip± evi-
<br />denting such pa„vznents. Borrower steal: prontptiy discharge and- }ten wltieh 11as priority over Ibis 1ortgage; pro-
<br />vided, that t'lorroner sl!z1I not :,e requim~l to cliVrlaarge F.ni- s1=•h Bert so icng as Barren•er si!all agree in 43-riting fv
<br />the payment of ih¢ abligatiari secured by such lien ui rz rra .her atoe;t`~ttle to i.znder. or shall in baud faith eonte.:o
<br />~ such lien by, or defend enforcement of such Iien i:t, legal prose,=.dings which operate to prevent the enforcement of
<br />.:.+ erne lien ar forfeiture of the Property or any part.: heraot
<br />. ° z. ~Fezard Inaaresnce, Bo:-rawer snail keep tiiF• tmt:~ros~e;7tents nv,=.• ex?sting or Iterea+t?r erected an the Prhp-
<br />~;rt,• insured against lass by fire, hazards included within the term "extended coverage", and such other hazard= as
<br />Lender nay require :end in such amounts and for sus?~ 1}eriod~ as Lender may require; provided, that Tendsr shall
<br />net require ihnt the amourf of such coverage exceed tiia* amount. of coverage required to pay the sums seeured'by
<br />this t3arigage.
<br />The insurance carrier providing the insurance shall be chosen by Harrower sul>;ect to approval by Lender;
<br />provided, that such approval shall not be unreasonably withheld. All premiums an insurance policies snail be paid
<br />at Lender's apt-ion in the manner provided under paragraph 2 hereof or by Borrower mailing pay=acne, when due,
<br />directly to the insurance ca.~•rier.
<br />In the event any policy is net renewed an or be#are ten days of its expiration, the Lender, 'cA protect
<br />its interest, may procure insurance on the improvements, pay the premiums and such sum shall bec:cme
<br />immediately due and payable with interest at the rate set forth in said note until paid and shall be
<br />secured by this iLlortgage. Failure by Borrower tc; compty may, at option of bonder, rnnstituta a default
<br />under the terms of this 2Vlprtgage.
<br />All insurance policies-and renewals thereof shall be in form acceptable to Lender and shall include a standard
<br />tnartgage clause in-favor of and in form ateeptable to Lgnde:•. Leader shall have lice right to hold the policies and
<br />renewat;f $herC;vf;-arid-Barr~wer Shalt vT V;,~yL',v ~ful~~;.h is r,~c°nder °11 '° „*al nv~.a. .and Sll r -2.tts af- ygs.~i- pr2-
<br />miums. In the event of Ions, Borrower shall give prompt notice fo the insurance carrier and Lender, and Lender
<br />may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower othens•ise agree in ,writing, insurance proceeds shall 1;e applied to-restorstian_or-
<br />repair cif the Property damaged, provided such restorat.ian or repair is economically feasible and the security of
<br />this lfarigage is oat thereby impaired. If such restoration or repair is not economically feasible or if ins security
<br />of this •lartgage would be impaired, the insurance proceeds shall he applied to the ruins secured by this IUfortgage,
<br />with the excess, if any, paid is Borrawea•. If the Property is abandoned by Borrower or ii Borrower fails to respond
<br />to Lender withia 34 days after notice by Lender to Borrower that the insurance carrier offers to settle a claim far
<br />insurance benefice, Lender is authorized to collect and apply the insurance proceeds at Lender's option either to
<br />restoration or repair of the Property or to the sums secured 's.ty this Mortgage.
<br />Unless Lender and Harrower othernise agree in writing, any such application of proceeds to principal shal3
<br />net extend or postpone the due dafe of tl!e manthlo installrents refcr~d to in paragraphs Y and 2 hereof ar changs-
<br />the amount of such insiailments.
<br />If ursder paragraph 18 h~s~f -the Property is aor}uired by Lender, all right, title and interest of Barrowcr iz-F
<br />anu taar.y insurance roliciez and in ai,r! to tlu• I~.,~,~>me.+£ thercaf !iu Ih~ ~~rF.nt of rtes mums s~ur^d by this l~?art
<br />gage immediately priirr to ouch sate or acgwsitrnn 1 resulting Tram damage to the Property prior to the sale ar
<br />acquisition shall pass to.Lender.
<br />_ _ £ ~z>$a~rstzu~ emo ~+Tisin#ece of l?raparty, I.easehoida; ~tdomiaituns, i3orrvu>nr shall keep the Prop-
<br />. -8r%r Fri-~4;7u repair sea a ,v nac per F.ilt c;r ec3 ~ into ~tiaste. tr:3~»i..;ten;,, Ur c:~-- cr°.~.a.; a: c ;e Prc,.~:~^,y ..Ta UhvF.
<br />:~ngly with the pmviaianc of any lease, if this Alortgage is nn a leasehold. If this ~Tartgape is on a condarrtiniutn
<br />unit. Iorrower snail pe;lozm aI_I of_ Harrower`s obligations under the declax=rtion of condomuiium ar ma_ster deed,
<br />the by-taw and reguiatians of the condominium project and constituent documents.
<br />7. 1?rQtectiou of I.endei s Security, if Harrower fails to perform the covenants and agreements contained in
<br />this l~i9rtgage, ar if any action or proceeding is commenced which materially affects Lenders interest in the Prop-
<br />' erty, including, but not limited ta, erninent domain, insolvency, code enforcement, ar axrangements or praceed-
<br />ings involving a bankrupt or decedent, -then Lender at Lender's option, upon notice io Harrower, may make such
<br />agpearanaes, disburse such sums and take such action a is necessary to protect Lender's interest, including, but
<br />not limited- #u, disbursemont of reasonable attorney's tees and entry upon the Property to make repairs. Any
<br />s-maur:ts disbursed by Leader pursnsnt to this paragtapit 7, evith interest thereon, shall beoome addit.ianal indebt=
<br />~ness of B4rrowersecured by this Mortgage. Unless Borrower and Lender agme to other terms of payment, such.
<br />amounts shall be payable upon notice- from Louder to norrotver requesting payn3ent thereof, and shall bear inter-
<br />est from the date of disbursement ai the rate stated in the Note unless payment of interest at such rate would be
<br />esantrary.tu agp_liaabie is~•, in wltieh event such amounfis shalt bear interest at the highest race permisstble by
<br />applicable law, Nothing contained in this partYgralth 7 shall rrquirc i.ender to incur any expense or do any set
<br />herenader.
<br />$. inapaetion I.eoder may-make or cause to be tnad?e reasonable entries upon' and inspections of the Prep-
<br />- ~_ ertu, urovided-that LEnader c_hall-dive I~orrower nati_re prior to any such inspection speGif?;ring-reasonable wears
<br />tlte~forrelat~ to Fender's intereatn the Property.
<br />9.- a=~sdaxaaa~. `i he ptrccecds of aBV• award br eiairt=for d~rriages: direct ar eanuentia,i in nectian
<br />a!ith any condema3ation or`ather tak9ng of the Property_ +tr iwrt thereof, or'far ciinvevance in. lieu of eondetuna-
<br />Tian, are hereby assigned and shall be said tb Lender, _ -
<br />lnthe event of a tot-' taking of the property, the proceeds slttell Ire applied to- the sums secured- by tl}is 4lart-
<br />s;..b-Te, ~ait8 t'rt't'zr:.s ;.if an}-, Paid to l;errocrcr. In the event of a p3r€s`alki€ig iif t~9 P-#~ttyf trill Bv1`1`a~'er
<br />and ?~esder et<herwi~e a~ee in writing, there shall Ifs applied to rtes shins s8eitred-°by this 4tortgagc such prapor-
<br />lion of the proceeds as is equal to that propartior. which the amount a£#.iie sunk senae~€d-by thin l~'Cortgage imma-
<br />d'iitoly grvr to the date o,` fading bears to the €air uaarlcef value a€ tire-Propeci2-iinrrediately prior to-the date of
<br />_ faking, w-itl: the t;sls,nfe of the ~roeeeds pail to-Borrosvor, .
<br />If'the Prenerty *.s rbandoned by itorraiser oc if after notice ov I:ender to Btrrraiver that-the condemnor often
<br />to mxlce rn award trr settle n ni~.itn for rlsrnades. 13nrroarer fails to resuand to Le;tder within 3i1 days of the c18te
<br />m h ~1 '.T~~C ..,. t ..-°:1 t., ...,}t. r .....,., ~i .?. .,~?.. at i.- r}. „-..pt*.'3n bitkyy t„ .°,Yt~-,..t.~, .,,
<br />- _ rAr,air of fi,a Prnrv~'T n^•fn FhK sn rr,a cai•i,rP.y `i~ti~f?ois lFnrt_Ra oa3 -
<br />` i,T:`icaa ri,>iidv .cud NvtJ.u }mac. i i a u~ ,. >;- r nuava, a~ cu•~3 i ~ -I t..,ll
<br />aEt.z u,r=gy ~~ ~u,r. a~.nc , pry v prsncipa s~,~„
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