|
~~ 1. ... ,.. ~ ~ ,... . .. ,_
<br />. ,~_ .. _ t
<br />aiu'' Si.i: d-,i6 ~ ;- 1 ... .i .,:_ `-1:=.. - .- .. ... ..._ . - i.. .. .. a ?sr5' s.. c_
<br />~. T.~.._ Y .' Zarrrpwer .sP.(:, ?run F,t.. ~..,_ t !; r 7, t.--r4 l.;r - .. ri,i- ~ (_- ,. ,-., s-. ~,~.'.i ,i. .. Lr E. _.
<br />aSSy' {- £..Y to Clf, '?r 11'di (3 •Jj ~tJ it ~ !`}4 ~-i"-. - -4 f~- ,,t-.. .
<br />:=ash?g .o ~ ~ ap_.-may .~ha-t: sna ~c~~lr. v.lana, c1., `iYr lort„a~,, a;.d gros,a rsl.t~. 1. any, ;~t ;.ende:'s
<br />L•p'~;a€z in tl:e n,srtuser provided ui~1'er 1;aragr.:.p h 3 t?creel or itv :~arrosv°r snaicin„ ~,ay:nent, 'xite;: :• :irectl.• to
<br />the payee Thereof. harrower shall ,}romp=iv furnisls to Lender all notices of amounts rue =..nder this patagraplz,
<br />_ and in the event i3arro?;er slsall make r;ayn;ent directi„ B-ar,*cr:,er =i?all orimpti;• iur?ilvi: to i Winder recei;~ts evi-
<br />dE,neing s=~c+h ;>ym~ns. Ba,rarver s}salt =.>rompt'tc discharge env ii:n ;,bleb bas rriorit.v- over this ltartgage; pro-
<br />- = vide`, Thai, Borrav-er shall not be required tc diecisarge an y- suels }Ten sa long as 3arrawer siaall agree in writing to
<br />~:~ the payment of r,[?e al-,iigaiian secured by" a Tier. iu ,i l .at.ner accept;sl;ie to i.ender, cr =hail in ;,cod faith tar=t~~
<br />~~ uch i3eu'ry°, er defend enforeernent of such liar. in, legal t?raeee;iin„s x'hi^l: operate to prevent the en£arcernert o:
<br />~~ `
<br />_.._ - n or forfei±,ure of the Property or any part tl;ereof.
<br />_~ rna :5. Hazerd iasurarsce. Harrower shalt keep the iii?17roven?cuts no?s- exi£t:ng ar hereafter erected on the Prop-
<br />~ crty insured against toss by Faro, hazards included within the term "extended coverage", and such other }?azards as
<br />I.end;r may require and in earl, amounts and ier such nel•iods as Lender mac require; provided, that Lender shall
<br />loot require that the amount al suttl coverage exceed tlsat arnaunt of coverage required Tc ,•a}• the sums seeured'by
<br />~ el;is ~iartgage.
<br />~ ?`he insurance carrier proviclir_g the insurauce sl?al1 be chosen by Borrower ;ni,jeet to approval by Lender;
<br />- provided, that such approval shall not lac unreasonably wfthheld..11i gremiums on insurance policies shall be gold
<br />at Lender's option in the manner provided under paragrapls 2 hereof ar }?}' Borrower making payment, when due,
<br />directly To the insurance carrier.
<br />In the event a3ty policy is not renewed art ar before ten days of its expiration, the Leader, to protect
<br />its interest, may procure insurance on the improvements, pay the premiums and such sum shall become
<br />immediately due and payable with interest at the rate set forth in said note until paid and. shaII be
<br />- secured by this Iviortgage. Failure by Borrower to comply may, at, option of Lender, constitute a default
<br />under the arms of this iViortga~e.
<br />Ali insurance policies and renewals Thereof shad be in form acceptable to I.crxl~r and shall iiichide a standard
<br />_ mortease clause in favor of and inform accentabta tc Lender. Lender shall have the right to hold file policies and
<br />renewals thereof, and Bozroxver shall-promptly furnish to Lender all renewal notices and all receipts of -paid pre-
<br />- micros. In the event of loss, Borrower shalt give prompt notice to the insurance carrier and Lender, and Lender
<br />- may make proof of 'toss if not made promptly by Borrower.
<br />_ Unless Lender and Borrower athenvise agree in ><vriting, insurance proceeds shall be applied to restoration ax
<br />repair of t?re Property damaged; provided such restoration or repair is economically feasible and the security of
<br />this-Mortgage is not thereby impaired. If such restoration or repair is not economically feasible or if the security
<br />of this ~~fortgage would be impaired, the itisuranee proceeds slra}i be applied to-the sums secured by this i4lortgage,
<br />with the excess, if any, paid to Borrower. Ii-the Properly is abandoned by Borrower or if Borrower fails to respond
<br />tq Lender within 30 days after notice by Lender to Borrower that the insurance carrier offers to settle a claim for
<br />_ insurance benefits, L~ndar is authoria€xl tci collect and apply the insurance pzaeexds at I.endor's opti"r. either to
<br />restoration ar repair of the Property or to the suina secured by this ~4ortgage.
<br />Unless Lender and Harrower o#her~vise agree in writing, any such application of proceeds io principal sha}I
<br />-not extend ar postpone the duo date. of the montliIy instathi~ents referred to in paragraphs 1 and 2 hereof or change
<br />ttte aanount of-such installments.
<br />_ if under paragraph iti hereof the I'zoperty is acquired by iendrr, all right, title and interest of Harrower in
<br />and to any insurance policies and in and to the proceeds thereof tto the exiLnt of the sums secured by this ~'Iort-
<br />' gage immediately prior to such sale or aequisitioni resulting from damage to the Property prior is +_h: sale or
<br />- - aiFS.vic o:F __a..r -n rte.. -
<br />- _tq . su y..t._:... y. X41'. -
<br />a: eaero'au~ cad iv#ffiatenoxxce of Frataei~, ie~ehoids; da;tni3siurr$s. Borrower shall 'seep the i'rnp-
<br />erty in goad repair and shall not permit or commit waste, irnpairrnent, or d: terioratian of thz Props, ty and shall
<br />comply with The pravisraris of any lei, i~ ~:u- ,Ia. Egaae im uii a leasel,al ..f * ,,_ ~~ax~oag;< i ...~ ~~..uani :Taro
<br />{
<br />' ut3ni Harrower snarl i3ertvrrri su at carrawcr s aaiagstitcrais ta~der ~l-iv acv lar~fian of car.da.niti.un? ar r>tw~ter ,
<br />the by-caws and regulations of the condominium projeci and constituent docwnents.
<br />7. Protection of Lendei s Security. if Borrower fails to perform the covenants and agreements contained in
<br />this ~riortgage, or if any action or proceeding is commented which maTerially affects Lender's interest in the Prap-
<br />erty, inchsding, bu# not limited to, eminent domain, itisoivcncy, code enforeemeni, or arrangemeilcs or proceed-
<br />ings invoking a bankrupt or decedent, then Lender at Lender's aptian, upon notice to Harrower, may make such
<br />appeazanees, disburse such sums and take such action as is necessary to protect Lender's interest, including, but.
<br />not-;limited'ta, disbursemeni of reasonable attorney's Toes and entry upon the Property to make repairs. any
<br />auiount~i disbursed by Leader pursuant to this paragraph i, with interest thereon, shall become additional indebt-
<br />et#nsss of Ltortawar secured uy this ~4larigage. Unless Borrower and Lender agree to other terms o€ pe_yment, such
<br />amouitte.shail be payable upon notice from Lender to Horro?rrer requesting payment thereof; and shall bear inter-
<br />- est from file date of disbursement at the rate stated in the Note unless payment of interest at sash rate would he
<br />contraryta applicable law; in which event such amounts-shalt bear interest at the highest rate permissible by
<br />appliealale law. Nething cantaineel in this paragraph i shall require Lender to incur any t'xpense or da any act
<br />hereunder.
<br />~,. Enspectnon. Lender may make or reuse to be made reasonahlc crttries upon and ittspe~tions of the Pmp-
<br />erty,pi~~ielc.,..tt~i ;. i S,r-shaft gtve I3a~vw~r nucic% jtrior to .tiny etch arai~tr;un lx ify;ng ,~a~~.ablk :.<,, _~
<br />~i?~raf~r ~sa~o,fn41 f~~ i Anripr'3-i~3~£-rfL*t-kCE-til(=-i~iYltr3RT~y. -- -
<br />$, Condemaatian. The pxoeeeds of-any award or etaim for damages, direct or consequeiiti&I, in canneetian
<br />:riot &nv cord2mnatio.? or ciiiier #aktng of he Property, ar lrnst thereof, w•-for eoni~eysnca in'=lieu of cond~tna-
<br />lion are beret>y a~.sil;necl and s1,alT lie paid r~ Le~eder:
<br />Fn the event of a total takingxaf the Property, itlclucceeds sltali be.apphed to the sums secured by this Mort-
<br />- ga,;~ t~ ith the es~e_;; if any,. gold fu Barxower~.In the ei~nt of s partial faking of the Property.-unless-Harrower
<br />t rand i:snder oiherwi.e sgr~>in writing, fltere shall-lie applied to file sums becumd by this ~'Tortgage such propor-
<br />tion of the proceeds :~ is cquaI to-that praportitin rt•Iliolt the amount of the sum>~ secured-Try this Mortgage icame-
<br />' daately prior to the: date, of ialcing brars tic the fair market. r•siiie of-tree Pmpert}- iintKediately prior to the date iaf
<br />_ _-
<br />ta~fnv; with the balnnee of the proceeds-rteid to Borraiver: .
<br />: zf rite Proper ~y iG abardonea by Brrro:c~er or if ;c£ter nonce by ~`,end~tswrEr-that the eendemtiar a~e-s
<br />ttl mace na award or settle u claim for riaulages; norl~,zeer Tails io respona to Lender within 3v days of the dale
<br />i*f such iiotitey T,emler i~ suthorized ill collect a?zd apply fti4• ltaoeeeds et •Tender's aptian either to restoration ar
<br />--. - tSpriL ai i:lle .iap~'Ly titi pile Hl!tf~ roe ite~ -~Y ?iitil 1iJ~G~fyaP: - -
<br />,- - - -
<br />Uniess.Lender a>.nci Bon'awer atherwase agree in ivritiiig, any suait ttppiication of proeeecis to principal shall
<br />
<br />
|