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If z~tu=~der lrra~sagrrmwpl~i f~8 Tact:-vf r.l:c i'ro;~rvr _ ~.~~~,i r,+~ r~:F~ t° rz>,.~,-~ r~~rr_i.3s~~ .- ...~._.r~rl :,z• (r ._,; ~.~:.~i~~a-
<br />~,hiaflt ap;ply,. no B',ntar tlaaazi :ruttetediaten• {,rfian r-, 1~~ ~ ssL o!' ~;~r~ .,1. ciA 'it- . r.*{, ~ Trion 1, 'e ~;as-r. ~. i=~_;.d~;
<br />tlbnl¢l Ibv'Ler,caer r~~,~~t the lirale of appIicazian a a -r~aiir ~~ z _.. - -„ ._-V ?-~~ t tle;^ga~,, - ~~
<br />~. ~~rrlic~iou~ of Pcryzateats. L Im:w ak }~r:.~~~A~,tG~ = ~. {,.,,,3 a ~ ~r<.er~wi-~~- ail I;a}SrSW_riL rtceisee, i,u i~.en~~ae~y
<br />unEler tb~e ~"ata stn e {, :~ra'~graple~ I ctrl ? h~re,~f iE;~t':.~ [~ s } ~1..,'_ 1,. Lr,.:-: . '.'.. :,, 1 }•zreer.t ~, sta.ar3nt: payable trcs
<br />'Lender by B'orrass~er under paragraph 2 hcrei~f, nc~rxr to interest paval±ir= m: ~tlx~ 30±~ ~:_:,q r.~ F'ui*are Advanc•:_~.-if
<br />~,
<br />any, and t=nen io the arircipal of tl:~ \ote n;x? ;u =f,c ,,rineipal o F::tr.re ~d~an,•e=. ti any.
<br />~ 4, Charges; Liens. Harrower shall par al? raze., s reran::eats and other charge<. fine-... and impositia;:s attrih-
<br />.arable to the Property whic?: may attain a i~rio.ity over this Mortgage. and groand rents, if any, at Lender's
<br />~, option in the manner provided under lraragraph 2 hereof or i3c Borrozs-er making payment. when due. directly to
<br />~ the payee thereof. Borrower shalt promptly iurnisli io Lender all notices of amounts due under this paragraph,
<br />~ and in the event Borrower shall make payment directly, Borrower shall promptly Tarnish to Lender receipts evi-
<br />dercing such payments. Borrower shall promptly discharge any lien which has priarit}- over this 1ortgage; pro-
<br />~ vided, teat Borrower shall rot be required to discharge anc surh lien so long as Borower shall agree in writing to
<br />~ the payment of the obligation secured by such lien in a manner acceptable to bender, or shall in good frith contest
<br />such lien by, or defend enforcement of such lien in, legal proceedings which aperaie to prevent. the enforcement of
<br />the lien ar forfeiture of the Properly or any part thereof.
<br />SEE RIDER 5. Hazard Insuzonce. _ .
<br />` bl~§ferbga~8. ~ .
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender;
<br />provided, that such approval shall not be unreasonably withheld. All premiums on insurance policies shat! be paid
<br />at Lender's option in the manner provided under paragraph 3 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 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 terns of this Mortgage.
<br />Ail insurance policies and renewals thereof also)? be in form acceptable to Lender sncl shall include a standard
<br />mortgage clause in favor of and in form aecep"table to Lender_ Lender shall Gave tl;e right to bald the policies and
<br />renewals thereof, and Borrower shall promptly furnish to Lender all renewal t:otices and all 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 promptly 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 econon;ically 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 Il3ortgage would he impaired, the insurance proceeds shall be applied io the sums secured by this ~^Iortgage,
<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 3ff 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 by this Jtortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall
<br />not extend or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change
<br />the amount of such installments.
<br />If under paragraph 18 hereof the Property is acquired by Lender, all right, Title and interest of Borrower in
<br />and to any insurance policies and in and to the proceeds thereof (to the extent of the sums secured by this Mot•t-
<br />gage immediately prior to such sale or acquisition) resulting from dawsge to the Property ririor to the sale or
<br />acquisition shat! pass to Lender.
<br />6. Pseseztratian and Maintenance of Property; Leaseholds: Condominiums. Horrawer shall keep tha Prop-
<br />erty in goad repair and shall not. permit or commit waste; i:npsirtnent, ar deterioratia.. of the Property and shall
<br />comply with t-he provisions of any Iesse, if this lIor;gag@ is ot: a leaseho?d. if this liartgaga is an to eondaminiurn
<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 />?. Protection of Lendei s Security. If Borrower fails to perform the covenants and agreements contained in
<br />this Mortgage, or it auy action or proceeding is commenced which materially affects bender's interest in the Prop-
<br />arty, including, but not limited to, eminent domain, i!soh•ency, code enforcement, or arrangements or proceed-
<br />ings involving a bankrupt or decedent, then Lender a!. i.endcr's option, upon notice to Borrower, may tnake such
<br />appearances, disburse such sums snd take such action as is necess'sry to protect Lender's interest, including, but.
<br />not limited to, disbursement of reasonable attorney's tees and antry upon the Property to make repairs. Any
<br />amounts disbursed 6y Lender pursuant to this paragraph 7, with interest thereon, shall become additional indebtr
<br />edneas of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upon notice from Lender to Borrower requesting payment thereof, and shall boar inter-
<br />est from the date of disbursement at tie rate stateaf 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 />applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or do any act
<br />hereunder.
<br />$. Ingpseti~. Lender may make or cause to lu made reasonable entrias upon and inspections of the Prop-
<br />erty, provided. that. Lender shall give Harrower notice prior to any sucb inspeetian specifying rassanabla cause
<br />therefor related to Lender's interest in the Property.
<br />9: Coudemaation. The proeeeda of any award or claim for alamages, direct or consequential, in aonneation
<br />with angcondemnaton or other taking of the Property, or park thereof. or for conveyance in lieu oI condemna-
<br />tion, axe hereby assigned and shall be paid to Lender.
<br />In-the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Mort-
<br />gage, ~$, if any, paid to $orrower. In the event of s partial taking of the Property, unless Borrower
<br />anal 7~e>tli~erwise agrae in writing, there slialY be applied to tha sums secured by this 3•fortgage such propor-
<br />Lionof_the:proceeds as is equal to that proportion wlieh the amount of the sums secured by this h3ortgage imme-
<br />diately prior tci the data of taking burs-foals fair market value of Lhe Property immediately prior to the date of
<br />talrinB with~hs fra,latree rtf the proceeds-.paid tvBorrowar:
<br />Ii the Pgpporby~t's abandoned by Barsower or:if-after notice by Lender to Borrower that the crordemnor offers
<br />to-make an aKra}d br•~ttie a claltri for damages, Borrower fails to respond to Lender within 30 days of the date
<br />oF`auah uatice,'T.ender is authorized to- collect anal aj2plq the;psoceeds at Leader's option either to restoration or
<br />repair of the Property or to the Bums secured by this \lartgage.
<br />Unless Lender-and Borrower othertviae agree in writing, any ouch application of proceeds to principal shall
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