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1f a~tR_'+r~r l~t~s~rap!~rac:~~~i 1'8 =,er~~tuf ri~i~s- ~p`r,i,~ivrrcv ~,~~ ,_ #'. r,. r.,~ ,~ i.l~.:n-; irj~~irr~ ~, ~ }.err' , ~ ~-_r:h;~Fr
<br />i~Ivau',tl alrp,el}', d.ie,? ~Pada.p d,~~91s1 auntc^Ilitttw,-3 'r~trur Y ~,=at-- ~ r;r ;,. .tr;.~, ~ ire,,; I;.-. „ ritle~r ~sru~,g- ~"unwai=
<br />a'~um~le3 }~y 1..,,ndex ar aV,r, ,ius~t~ o' ;npg,hr,^ati~ur :~s cn ~ta~ ,, -_r_~ . ~ ~n. ;: i__ 'o ~~~.7ta;r'.',-
<br />3. Plp~pli~~rtrrc~n of &tayar~ntus. iiu3::.:- .r1'a_.=u.,..-1- ~..~a ,~;a3si~h~_ ~~"set-.r.+:, .~.1: psru~r.r~~nt r cw~r,fiu^r; k,y!r C~e; aaer
<br />a„uiuclc,r tt.I'ar'~, sort: ~~,,tpc p=ra~crap.u. I ;~~putt ~ !,c?~N+,I _:~.~;1 ~ ~._ .a€'~;ia=•r, i, t_-_cr,ie-r tir.,~t, ~kt: pie}u~.:arrrt ,~,_ -aa~r+~uast5 p•,~,,^s,>~lN~ to
<br />fender Pay Bu*rovver ursdc+r !,aragrap'rlu 2 her~eo,, t,l~re.~ to tr.,~r.e~,t i> iasl,l=r o. >l._ '_~ir3tf_ ..erN rvu: ~ sa~rrr^ acl a_r~es. if
<br />any, and then to the principal of the date and so ti,e principal of future .9deanc<_«, if ;an+r.
<br />4, Charges; Liens. Borrower shall pay :~>.` `axe, =.suk:;nfer,t:= sari of er ch,rges. fines and ?m;;vsitions aitrib-
<br />utable to the Property which may attain a griorii}' m•er this _'.fortgage. and fro'-_rtr3 rents. if at: at Lender's
<br />option in the manner provided under p>aragraplr 2 hereof or by Borrower making payment, when due. dimrtly tv
<br />the payee thereof. Bvrroa•er shall promp>th• furnish ro Lrnc!er ail natices of amounts riue under this paragraph,
<br />C*~ and in the event. Borrower shall make payment directly, Borro°.i er shall prompt!}• furnish to Lender receipts evi-
<br />s1j deneing suelt payments. Borrower shall prom;nl_r-- discharge anv lien which ha= priority aver this Mortgage: pro-
<br />vided, that Borrower shall not be required to discharge am• such lien so long us Sorroiver shall scree in writing to
<br />the payment of the obligation secured by suc!t lien in a manner acceptable to bender. or shall is good faith contest
<br />;~ such lien by, er defend enforcement. of such !ter. in, legal proceedings iviricit operate to prevent the enforcenment of
<br />~ the Lien or forfeiture of the Property or at tri thereof.
<br />S. Fluzard Insurance. Borrower shatr .. ~n the imp*oren.cn',~ ,-,cis existing rr hereafter erected on the Prop-
<br />arty insured a~cinst loss by fire, hazards incluaed within the term "extended coverage", and such other hazards as
<br />~ Lender may require and in such amounts and for such pzriod.. as Lender mar require: provided. that Lender shall
<br />not require that the amount of such coverage exceed that amount of coverage required to pay the sums secured'by
<br />this Mortgage.
<br />The insurance carrier providing iha insurance shall he chosen by Borrower subject to approval by Lender;
<br />provided, that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid
<br />at Lender's option in the manner provided under paragraph 2 hereof or by Borrower making payment; when due,
<br />duectly to the insurance carrier.
<br />In the event any policy is not renewed or, or before ten nays of its expiration, the Lender, tv 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 shall be
<br />secured by this Mortgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br />under the terms of this Mortgage.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard
<br />mor`~gage cia-,tse it favor of and in form acceptable to bender. Lender shall have the right to hold the policies and
<br />renewals thereof, and Borrower shall gromptly furnish to Lender all renewal notices and al} receipts of paid pre-
<br />miums. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender; and Lender
<br />may make proof of loss if not made gromptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or
<br />repair of the Property damaged, provided such restoration or repair is economically feasible and the security of
<br />this ~Sorigage is not thereby impaired. If such restoration or repair is not economically feasible or if the security
<br />of this Mortgage would be impaired, the insurance proceeds shall be applied to the sums secured by this 141ortgage,
<br />with the excess, if any, paid to Borrower. If the Property is abandoned by Borrower or if Borrower fails to respond
<br />to Lender within 30 days after notice by Lender to Borrower that the insurance carrier offers to settle a claim for
<br />insurance benefits, 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 b}- this Mortgage.
<br />Unless Lender and Borro~~•er otherwise agree in writing, any such application. of groceeds to principal shall
<br />not extend or postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change
<br />Lhe amount of such installments.
<br />If under paragraph 18 hereof the Preperty is acquired by Lender, all right, title and interest of Bvrrawer in
<br />and to any insurance policies and in and to the groceeds thereof {to the extent of the sums secured by this R1ort-
<br />gage immediately prior tv such sale yr acquisition] resulting from damage to the Property prior to the sale or
<br />acquisition shall gals to Lender.
<br />$. Freservatian sad Rcazinieaance of Praperfy; Leaseholds; Condamiaiums. Borrower sltaTI keen the Pn,p-
<br />erty is good repair and shall not permit or commit waste, itnpainnen+., or deterioration of the Pragerty and shall
<br />comply with the provisions of any lease, ii this Mortgage is on a leasehold. If this Mortgage is on a condominium
<br />unit, Borrower shall perform all of Borrower's obligations under the declaration of condominium or master deed,
<br />the by-laws and regulations of the condominium project and constituent documents.
<br />7. Protection of Lender's Security. If Borrower fails to perform the covenants and agreements contained in
<br />this Mortgage, or if any action or proceeding is commenced which materially affects Lender's interest in the Prop-
<br />erty, including, but not limited to, eminent domain. insolvency, code enforcement, or arraagemenfs or proceed-
<br />ings involving a bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower; may make such
<br />appe~ranoes, disburse such sums and take such actimt as is necessary tv protect Lender's interest, including, but
<br />not limited to, disbursement of reasonable atrorney's fees and entry upon the Property to make repairs. Any
<br />amounts disbursed by Lender pursuant to this paragraph i, with interest thereon, shall become additional indebtc
<br />ednesa of Borrower secured by this \iortgage. Unless Borrower and Lender agree to ether terms of payment, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall bear inter-
<br />est from the date of disbursement at the rate stated in the Note unless payment of interest at such rate would be
<br />contrary to applicable law, in which event such amounts shall bear interest at the highest rate permissible by
<br />apgiicsble law. Nothing contained in this paragraph 7 sha!I require Lender to incur any expense or do any set
<br />hereunder.
<br />8. Iaepectioa. Lender may make or cause to be made reasonable entries upon and inspections of the Prop-
<br />erty, provided that Lender shall give Borrower notice prior to any such inspection specifying, reasonable cause
<br />therefor related to Lender`s interest in the Property.
<br />9. Condemnation, The proceeds of any award or claim for damages, direct or consequential, in eonn~etion
<br />with any condemnation or other taking of the Property, ar part thereof, or for conveyance in lieu of condemna-
<br />tion, are hereby assigned and shalt be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shalt be applied to the sums secured by this ifort~
<br />gage; with the excess; id any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower
<br />and Loader othet'svise agree is writing, there shall be applied to the auras secut•ed by this Mortgage such propor-
<br />tion of the proceeds as is equal tv that proportion which the amount of the earns secured by this :tfortgage imme-
<br />diately prior So the d&t~ of tatting bears to the fair market value of the Property imtnediat.ely prior to the date of
<br />taking, with-theJialstta~ of the proceeds paid to Borrower.
<br />If the Yrt~rperry i~ abandoned try Borrower or if after notice by Lender tr Borrower that the crsndetnnor Offers
<br />tr?+~~_ wn nw~rd nr setae a cloliri fttr d~tsis,a, borrower fails to respond to Leader within 30 days of the d»te
<br />of qtr n,tt,i~; Lender is authorized to ! iiltect rind apply the proceraels at I,e_nder's option either to rr.rn-artctn nr
<br />r,,;p of the Property yr tc the eui~• ~•u.°;l b*r .ltis ?:^W gage
<br />Unless bender and Borrower otherwise agree in writing, arty such applicatiert of grai;erds to principal -shall
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