|
,~tl'1 :a r, ~: i~:-~ liGs. s;.a,r iii . ~.-~Y;an G Ei ,,r;o: s~s -.,s s , .9' 'i.<~ F' ,, pm~~~~ ~, ~ II - .. ~ ~ ~I-
<br />~I~1 h, !-..tt~l<: ~r qhn. *,ui +I. ~_u.tr,s ~ t ~~`s : ~~,,, ..., - ~~ .. ~.
<br />3.AppticzrtionotPayr~ents. f,i9~•;.,~I r~'',.- .,r.s,~r'sz,. ., r ..~,~ n;.;.i ~~,~.,,i i.e~a.,:,~r
<br />c:r,~~P.lr 4~=~ ~'st:rre ~nfl !'a~r~rt~~, ,lal~Ir~F d roan! 2 iisrr~,r~ ntui': ~.-- c;,,~;ia'=I I 1 r,. ;r. - `ie~~Y sins {i c, -~~+~~;° .us.ri:,,ticat ~n.xai:46a: t.+.~
<br />I~er~ rr . I3orrorvr, un~dti.' cara~rs ids '~ Isezve,." '
<br />,'1. `~y R ~ } rnr~~, qu itkr,rra.°~t s~aaw~~h;e~ r.~r~ tie °Crrrt. rrss=', er- `C'i.,zlgrr~ ~r .,rvrtcs~~, at
<br />any, acid then to khe Irrincipai oi' the Aotc any{ t~ rise nrcncitwl of F"us.~~re .~r~antrs, at anti.
<br />4- CLoagas; Liana. Borrower s`asi: nay elf taxes. aaseaaments and other chargrs, nn~ and imaositiocs attrib-
<br />utable to the Property which may attain a priority over .lii, :tfartgage, arxi groucw rent. if airy, at I.endera
<br />option in the manner provided under paragraph 2 hereof o: in- Borrower making navment, when due. directly to
<br />~ the payee thet•eof. Borrower shall pramptiy furnish to txruier all twtieea of amount< due under c:1is paragrroph,
<br />~ and in the event Borr~a•er shall make payment directly, Borrower shall pramptiy furnish to Lender receipts evi-
<br />dencing such payments. Borrower shall promptly d~charge any lien which has priority over tlt~ .".4ortgage; pro-
<br />" vided, that Borrower shad not bE required to discharge env such lien so tong as Borrower shal± agree in writing to
<br />© the payment of the obligation secured by such lien in a manner acceptable to Lender. or shall in good faith contest
<br />~ snob lien by, or defend enforcement of such lien in, legal proceedings which operate to prevent *.he enforcement of
<br />~ the lien or forfeiture of the Property or any part thereof.
<br />' S. Haas¢d Ixrsuroxtce. Borrower shall keen the ;mnrovements now existing or hereafter erected on the Prop-
<br />~ arty insured against bas by fire, harazda included within the term "eatendea coverage", and such other ha:arde p
<br />n bender may regtrin and in such amounts and for such periods as Lender may require ; provided, that Lender shall
<br />not regtrira that the amount of such coverage exceed that amount of coverage required to pay the sums sacured'try
<br />this Mort~aee.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Leader;
<br />providrd, that such approval shall not be unreasonably withheld. All premiums on insutance policies shall be paid
<br />at Lender's option in the roamer provided under paragraph 2 hereof or by Borrower making psytrcent, when due,
<br />directly to the insurance carrier.
<br />In the event any policy is sot renewed m or before ten days of its expiration, the Leeroer, to Reelect
<br />its interpt, may procure insunsnce an the improvements, pay the premninnu and such satin etraG became
<br />imeoeds~tteiy due and payable with interest at the rate set forth in sand note tmt7 paid and sherg be
<br />secured by this Mortgst~e. Failtue by Borrower to compay may, at option of Lendtrr, ooastitnte a demaft
<br />under the terms of this Mortaaae.
<br />Ag irattraaca policies sod renewals thereof shall be in form acceptable to Leader and shall melvde a staarLrd
<br />rrrortg#~e clause in favor of and in form aeeeptsble to Lame:. Leader stall have lice rirltt to hold the policies sari
<br />retrawais Ehaeof, sad Borrower shall Promptly furnish w Lender all :ienewaf notices and all newpts et t~ P'r'a-
<br />mianes. In the event of [ap, Borrower shall give pwurpt notice to the insurance carrier and header, and Lewder
<br />m-y raatlas proof of lop if not made R~PUY by Borrower.
<br />Unlace bender sad Borrower otherwise ap+ee in writing, insurance proceeds stroll be appi~d to rastoeetion er
<br />repair ~ the Property damaged, provided such restoration or repair is econotnirslly feasible and the aeeacitp of
<br />Rlrkr ]ldertR#~s is nob thereby impaire3. If such restoration or repair is not economiea!!y teasil>kk or if the scarify
<br />of this A&atip{e would be impaired, tMe iasurantx pwoeeds slut! fro applied to the soma secured try this ll[eetpt~a,
<br />with 6tse ewe, if say, paid W Borrower. If the Pt~rertp is ahantloned by Borrower nr if Borrower fait W
<br />to Leader within 30 days after notice by Lender to $orrower that the inatrance earrur often to settle a slaiar br
<br />inetuaace benefits, Lender is suthoriaed to collect and apply the insurance proceeds at I.attder'a option ~ to
<br />reetorattion or repair of the Property or to the soma secured by this \fortgsge.
<br />Unlps Lender sad Borrower otherwise agree in writing, any such application of proceeds to principal shell
<br />not ssfAnd or postpone the due date of the monthly installments referred to in paragraphs i and 2 hereof or eiterrwe
<br />Ehs aeaonnt of ouch instalLnents.
<br />tmdes ph l$ hereof the Pwpa~ty is aegwred by Leader, all ri`ht, title and interest sf Htrrreteer ~
<br />sad io any irteurauce policies and in and ttt the proceeds thereof Ito the extent of the sums secured by +:6is Aiaet-
<br />pis it~ediataly Prior to such sale or requisition} retw-ting from damage to the Property prior W the aria ce
<br />aes{ioa strsll pap to LencteA.
<br />R Frasessatlpr smd of l'ropealYr I.aaasho~: C.oademhaluas. Borrower shall keep the Frop-
<br />srty is good rc~air and shall not permtt or caaunit waste, impairment, or deterioration of the Properly and shat!
<br />eo~sly with tlce provisions or' say lease, :this 3fozt;sge is on s leasel:ofd....,. Rio.-tgag€ is on a eoadoaziairnn
<br />troll, Barrowar shalt perftua: all of Borro+rar's obltgationa under cfa€ eieclarattvn ct eoadcrmrniuffi ctr tna~sr dpd.
<br />the by-lava sad re~ttlatioas of the condominiwu project anci constituent documents.
<br />9. tflreMeBan of Laawier'a fieeirit~. It Borrower tails to perform the covenants and agreements eontaiwd in
<br />this hlaet~e, or if any action or proceeding is commenced which materially a$ecte Ixnder's interest in trite Prop-
<br />erty, iaahding, but not limited w, eminent domain, insolvency, code enfotceruent, or arrartgamenta or pwasd-
<br />~ invtriving a bankrupt or decedent, then Lender at tender's option, upon notice to Borrower, map make woh
<br />apRearanees, disburse ouch sums and take such action as is necessary to protect Lender's interest, including, but
<br />not lissitad to, diabunement of reasonable attorney's fees and entry upon the Property W Hake r'aRaire• Anp
<br />aat0unis di+sbureed by Linder pursuant to the paragraph 7, with interest t-cereon, shall bacoete additiosal irdebt-
<br />adsses ~ Borrower accused by thia .~liortgage. Unless Borrower and lxnder agree to other terms of payment, such
<br />atnouots ~1-all be payable upon notice tram Ixrder to Borrower requtating payment thereof, and shall bear inter-
<br />act twin the date of disbursement at the rate stated in the Note unless payment of interest at wash rate wotdd be
<br />oasteary to applieabic law, in which event such amounts shall bear interest at the highest rate permissible by
<br />~DRlhle law.ltothing eofrtaiuosi in thL lzaragrrph i shall require Lender to incur say ertpetae or des ~ oat
<br />ItllMwMr:
<br />~ men. Lendet may make or cause to he made reasonable entries upon and iaapectioas ~ the Aap-
<br />! i`sdwl that Lertdar shalt giv€ Borrows: rwiie Friar fa any swlc in,;pection sppifying raasmable c~uaa
<br />tberrsfar etatrti to jeocley'a-int*'re!t in thn Pr'Aperty.
<br />!, t'kt#deneeoKaa. 1$s praeaeds of anp award or claim for darnttgea, ditseet or conaequeatiai, in oeaaeafiost
<br />with ~ won or rrther t of the Property. or hart tltereet, or ter convepraee is lieu of eondessna-
<br />~: #taU lseert-y aaai;aed and ahaU ba paid to Leader.
<br />Yn the event of s total gym[ of the Property, the proeaede shalt !x applied to the soma secured by thin Mort-
<br />t w' the t~tt~ea, if any, pahl to Bot'zower. In the event of a partial taking of the Propartp, unless Bonawer
<br />atlderlt'isa spec is ttrritina, thine elan be apRliisd W the awe secured by this ?-tortgaga snob pwpor`
<br />flan of Eltt.psncas3s as itre~I b t'tat ptq,pwrpon which the amount of the sums seeurod by U-ia Moel~rse issraa-
<br />diately prior to flue date of taking; tiara to the fair enarket vaieN et the Ptsopeety immedatelp prior to the dote of
<br />rri~t t~.t bad et` t~ pepeMtM pa:d to 8orieiaer.
<br />'~"~ it aharidesai by-8etrewtt eE, if atter,anbiee by I+sader to Borrower that the eoadettwor agars
<br />t4 oat #~t1aEi-er sstk~t # ads #t3r daararsn~.-~-taih se raapaad W Leader within 3U daps of the date
<br />of woh aelit~e. I.s~tier is atrthaedwd to aglfeet aced slRplir Bee preeeeda rt Lender's option eitrter to reatonrian or
<br />repeh' ~ flue F4opsakp ar tw fheattms a•5y ~a 3tiorc:
<br />Unlpa Lender atxi Borroti-ar otherwise aitee in writing, any atwh application of proceeds to principal shall
<br />
|