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<br />nd teen to tee rrn;:rpa. o. tee _.et_ ' :~ t, , r c_;t;~~ Ftat~ ~ ~ __"r._ , _..
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<br />sabre ra lire Yraperty zs•}rrci:~:na4' attaitn~a ;;r:arttb' [,rGr t?=;_::>fa:-tgage, and grourrri rei;r.:-,; 7; ar,_,, a• LEnd=r'=
<br />ap'tion ir: the r*.anner pravidad under ;=aragrapr: 2 hereof ar ;3}• Barrrriver rr.a~~ng ,^,a~: men#, ;vtren clue. directly to
<br />'°~' the payee thera_of. Borrower si;all prorptly fury}isle to Lenr,er a,i natives of amounts due urtler ti;is paragrspn,
<br />and in the event $nrra;;per shah }naYe gag-rnon*., di;eeti~', i3orra;vEr i3~1i prantptl}• ;:..t7;ist: t€~ Leaner receipts evi-
<br />'- ~' der}tine such naymen±s. Bor*3}v;er slral' ,;ron.,,ri.• •+;s,~i,• - am .._. which has priarii a.•er this Iarigag~; pr:ti
<br />~' vided, rht 23orraare~rshall not be require? to disrliarg•_ :s=+y~~u^?o- 1._n so ieng r~E 3orower sl.all agree ire ~°riting to
<br />t-he a-
<br />p ym>•ant of the obligatia* secured lry such lien iu .r }rnaaner acceptable to render, or shalt in good faith contest
<br />+~ s`r2eG ilea by , ar defer:d enfaieetnent of loci; }ter. in, legal Isrcc°eecling» erhich ol,erate to pre+: eat the enforcer ,eat of
<br />the lien or fcrfeitura of the Proper±y ar at}~• part thereof.
<br />5. Hazaird Insurance. Borrower shah keep the irr}i3ro•; enren*.s nay existinr* ar iaereaftt~r ~recied cn the Prap-
<br />~' erty insured against ions by fire, hazards included tvithir. the term "extended coverage'', and such other frazards as
<br />~ _=".ceder may require and in such arnaunts anti far suvl; }:eriod as Li~ruler nra}- rev;wire: provided. that Lender shah
<br />°- not require that the amount of such coverage exceed t;rat amount of coverage required to pa~° rho soars seeured'by
<br />this =vYortgage.
<br />The insurance carrier providing the insursuve shall be chosen by Barrow>er subject to approval by Lender;
<br />provided, That such approval shall not ire unreasonably {withheld. Ali premiums on insurance policies steal! be paid
<br />at Lender's option in the manner pracided under paragraph 2 hereof or by Borrower making payment, when due,
<br />directly to the insurance carrier.
<br />in the event any policy is not renewed on or before ten days of its expiration, the Lender, 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 sPt forth in said note until paid and shall be
<br />secured by this Mortgage. Failure by Borrower to comply may, at option cf Lender, constitute a default
<br />under the terms of this Mortgage.
<br />All insurance policies and renewals thereof shall rte in faun acceptable to Lender and shall include a standard
<br />rna_rtpane ciarvice in fayar of and in farm arrent:3bte to L.endar i.ander ghatl hayr ills right. in ltnl.l t.itn pnSicioa earl
<br />renewals thereof, and Barrawer shall promptly furnish to Lender all renewal notices and ail receipts of paid pre-
<br />miums. In the event of foss, Borrower si}al? give prompt notice to the insurance carrier and Lender, and Lender
<br />may make nraai of toss if net made promptly br Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall 6e applied to restoratior, ar
<br />repair of the Property damaged, provided such restoration or repair is economically feasible and the security of
<br />this 4ortgage a net thereby impaired. If such restoration ar repair v not economically feasible or if the: security
<br />of this i~Sartgage would be impaired, the insurance proceeds shalt be applied to the sums secured by this ortgage,
<br />with the excess, if any, paid to Borrower. If the Yraperty is atandoned by Borrower ar if Harrower fails to respond
<br />tc Under wiihsn 34 days after notice by Lender to $orrower 'that lire instrrauce carrier offers to settle a claim far
<br />insurance beneFis, Lender is authorized to caliect and apply the insurance proceeds ai Lender's option either to
<br />restoration oz repair of the Property ar to the sums secured by this \-lartgage.
<br />Unreal Lender and Borrower otherwise agree ir. writing, any loci: application of proceeds is principal shall
<br />not extend or postpone the due date of the rnontlrly installratents referred to in paragraphs 1 and 2 hereof or change
<br />the amatent of such installments.
<br />If arider paragraph IS hereof the Yraperty is acquired by Lender. all ri¢ht, title and interest of Borrower in
<br />and to any insurance policies and in and to the proceeds tlrerenf itn tic€~ extent of lire rums secured by this Mort
<br />gage immediately pr10Y to aiieh sale cr nrnaiiaif.ion} re'_±3St;+,h ;, ~,,, ..v.,.:;K+. i'u iii, i~ruperiy prlar i,a the sale Or
<br />acgttiQition shall pass to Lander. S!s~~_ ~a''
<br />-~zao+;;Y[4fJtSYi ~~ ~gn~ABS'ffiL@ £]f S3¢~rtya 3~l39Al~Ct(~4_ sc~:>~S~Pa31^iii+~5*~ inrril.;vn:' chaF} ~snn fltn Rrn;t-
<br />erty in goad repair and slraii not permit or commit tvaaic, irnpairrnent, ar rieterioraiion of the Yraperty and shall
<br />c°azttply with the pravisians of any lease, i=' this >farigage is an :, ieasehald. If this Mortgage is an a condominium
<br />uztit, [3crrawer shall perform aI of l~orroaer s otiligaiians under the dec•rr-ation of condominium ar master deed,
<br />the by-laws and regralations of the condominimn project and constituent +ioeuments.
<br />7. Pro#aection of Leader s Security. If Borrower fails to perform the covenants and agreements contained in
<br />this ~•Iortgage, or if any sctian or proeeedirg is commenced which maieriaily ar`fects Lender's interest in the Prop-
<br />erty, including, teat not limited to, eminent domain, insolvcney, code cnforcemeni, or arrangements or proceed-
<br />inga involving a_bankrupt ar decedent, then Lender at Lender's option, upon notice to Borrower, may make such
<br />appearances, disburse such sums and fake such action as is necessary to protect Lender's interest, including, but
<br />net Limited to, disbursement of reasonable attorney's fears and entry upon the Property to make repairs. Any
<br />amountsdiabursed by Lender pursuant is this paragraph 'r, with interest tfiereon, shall became additional indebt-
<br />aine~ of Harrower speared by this ~iartgags. Unless Harrower and lender agree to other terms of payment, such
<br />amounts shall be payable upon notice from Lender to Harrower requesting payment thereof, and stall bear inter-
<br />est from the date of disbursement at the rate stated in the :Mote unless payment of interest at such rate would be
<br />eantrary to applicable law, itr which event such amounts shall bear interest at the highest rate permissible by
<br />applicable-law. ~?othing contained in 'this paragrapi} 7 shat! require Lander to incur any expense ar do any-art
<br />hereunder.
<br />8. Inspas#lon: Ixnder.may make or tense ttr be matte reasonable entries open and inspections of the Prop-
<br />' erty, provided rivet Lender shall give iiorro~xer notice l+rinr tc rmy lurch inal>ectinn sjrecifyzng reasoirablc cause
<br />ti;.,t;~ro* reI~t to ~:.der's hrf:aest iu rtes Pro~erGy.
<br />~. ~ondfrrsncstioia:. TlieprrnBeeds a{'aeiy award'ar claim fur darciages, direct or eansequential, in conaeotaon
<br />.+ath and ~.o:.~lemnc~tiou aza€hher:faking.-fit rife Property: o~• path thereof, or for eanreyssnn€ in lieu of condemns`
<br />titiit, ors hereby ae5gned anclshall be plaid"tSi (..ender.
<br />In the evert of a total-t~kspg+;f the.l'ropnrty,tin #~oceeeis slae3l !te aplstieei to the-stttns aeattred by ti+is Mcsrt-
<br />ge n iiir t6:: exec:; if . ~y, paid tv .:orzi}wer. _Iu- the event of a pectic! taking of tl3e Property, u,-doss Borrower
<br />aixd Lender ot,her+.viaa agree in writirsg, there shall tre apl>iioil to the sutark :reeured_ by this ~1arfgage such priipor-
<br />lion of the proceeds as is dual to tlaat'propoi'titrn which tlr~-_amoutit of the sums secui~ad kip Llria Mortgage imme-'
<br />iliatblr. prior is he .laic of taking be#zs't¢ tt;e fair market i~siue of the Properly immediately. prior tc the date of
<br />takirr;, Ep #.h hQ hr}tAnce of t~+e proee+etle geul to Borrower.
<br />li the Prnpzryy is abardunetk by ~€trt~tiw~g or ii -af#$r nctr.4ce b}~ i.ender to I3arrQaer'that-the condemnor offers
<br />to rrcake err award ar strife a claim for c7arna~es, Borrower ~sila to !espvnd to'Letider within 30 days of the date
<br />of such native, Lander is authari2ed to collect and apph• the r;receed at Lender's option either to reataratiort ar
<br />iepxz of ther`rapertr' or to tGe sutt:s ~ecureG tJV ti<is '.rart(_c'k22.
<br />'E}nleus Lender-and i:orrawei• ritherivise agree is ivritin~, any stieh application of rrroceecls to principal shall
<br />~;
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