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<br />JE;I' aain~d~tplr p sragra,xi: !~ i .. .^ Y-r~.;: ~i.l. n n ~~~;7. .k"~~ e~x~~v ;.i '_}~ s_ . i~„
<br />;.a'r~aplpi~,~ts~~F.e3 ru~.~ ,u~ e-.F.rF_ z~r. >>_~a r~.. ~~~ - t'=~=i~i-_ a~u14, ~_,a_ ~.~~ . - _~_...
<br />.eld trp~ {',~xu'Iea at €lxv 9itac of a}>I'hoatjo a rift ~a.,= ~ r{ i! ';!! ~-1
<br />3. Appati~ of Papmsssis. L'n.~-.4 a, 3~ _•~~. II ,a.io= :,.~- x .~.>,~,: ,•wyi,..~..a . . -;_ .,a• ;,.. .~~_r
<br />under the ~i'rS#e and parag'rap::s :and ° l,wra•o; ,U.~l. ~ ~ ap,;4i~:~! s„' I: 3 ,.. t ~'ir ,s ~.x.+n? +:f an,,,t r~:°a~,_3r_• r;
<br />Lender by Borrower under laaragrapi; `L hereof, €ex•: to irt;-r€-,' •ai.lc r;t: ;3,e :'+:~,~ ~=:si a,r ; utur~• A::;•a.~e~. i,
<br />any, and then to the principal of tl:e ~+o*_e an.€ Frt ti,e ;€_r•it~r~ oaf 1•'utur=_~ .1E:vanc~, if ar;y.
<br />9. Clnargq; Liens. Borrower sl;sil pa}- all taxe=. asst ate;e::€> and other charges, 5nK and imlasitions attrib-
<br />utable to the Property which may attain s priority over tlti.: Sfo-gage, anr~ grvu::d rents. if an}•, at bender's
<br />option in the manner provided under paragraph `L hereof or lav Bvrmu•er making payment, ::•hen due. directly 20
<br />,r..l the payee thereof. Borrower shall pmmpth- furnisl, to Lender all notices of amounts due under this paragraph,
<br />.~~ and in fhe event Borrower =hall make paynxent dirertly, Borrower sltsll pter.:ptly furnis}z to Lender receipts evi-
<br />~ dancing such pa}•ments. Borrower shall nromptly discharge anv lien which has l:riaritr over =_lxis _lortgage; pro-
<br />~ vided, that Borrower shall not be required to discharge any such lien so long as Borrower shall agree in writing to
<br />~ the payment of the obligation. secured by such lien ir. a manner acceptable to herder. er shall in good faith contest
<br />~ such lien by, or defend enforcement. of such lien in, legal l,roceedings which operate to prevent the enforcement of
<br />the lien or forfeiture of the Property yr any part thereof.
<br />t 5. Hazard Insurance. Borrower shall keep lire hul;sovements na:r existing or hereafter erected on the Prop-
<br />~ erty insured against loss by 5-- iazsrds i.^.^lud°<± Keith;., thcr_arm ~'axianded rnyeraga'_ anrf citr•ir vi.her harxrds Hs
<br />~' Lender may require and in such amounts anri for suet; periods as Lender ma}• require: provided. that Lender shall
<br />not require that the amount of such coverage exceed that amount cf coverage required to pay the sums secured'by
<br />thhis Mortgage.
<br />The insurance carrier providing the insuraucc shall be chosen by Borrower subject to approval by Lender;
<br />provided, that such approval shall not be unreasonably rviihheld..ali premiums on insurance policies shall be paid
<br />at Lender's option in the manner provided under paragraph s hereof or by Borrower making payrnenL, 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 :.ender, to protect
<br />its interest, may procure insurance on the improvements, pay the premiums and such sum shall bernme
<br />immediately due and payable with interest at the rate set forth in aid 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 />Ail insurance policies and renewals ttxereof shall be in loran acceotable to Ixnder and ..=.hall inchxde a standard
<br />mortgage clause in favor of and in form acceptable to Lender. Lender shall have the right to hold the policies and
<br />renewals thereof, and Borrower shall promptly lurnisit to Lender all reneu~sl notices 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 stroll be applied to res-tor3tior. or
<br />repair of the Property damaged, provided such restoration or repair is econonricall}- feasible and the security of
<br />this Mortgage ia' not thereby impaired. If such restoration or repair is not economically feasible or if Lhe security
<br />of this Mortgage would be impaired, the insurance proceeds shall be applied to the sums secured by Lhis Mortgage,
<br />with the excess, if any, paid to Borrower. if the Property is aban<Soned by Borrower or if Borrower fails to respond
<br />io 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 ti:e insurance proceeds at Lender's option either to
<br />restoration or repair of the Property or to the sums secured by this Mortgage.
<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 reterred to in paragraphs 1 and 2 hereof ar 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 io the proceeds Thereof Ito the extent of the sums secured by this 31ort-
<br />gage immediately- prior to such sate or acquisition 1 resulting from damage to the Property prior to the sale or
<br />acquisition shalt pass to Lender.
<br />6. Preservation and Maiatenance of Property: Leaseholds; Condominiums. Borrower snail keep the Prop-
<br />erty in good repair and shall not permit or commit waste, impairment. or deteriorstior. of the Property and shall
<br />eomgty with-the provisions of any lease, if this 4lortgage is oa a leasehold. If thisllostgage is' on a condominium
<br />unit; $orrawer shall perform all of Borrower's obligation, 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 bender's interest in the Prop-
<br />erty, including, but not limited to, eminent domain, insoh•ency, code enforcement, or arrangements or proceed-
<br />- ings involving a bankrupt or decedent, then Lender aL Lender's option, upon notice to Borrower, may make such
<br />appearances, disburse such sums and take such action as is necessary to protect Lender's interest, including, but
<br />not limited to, disbursement of reasonable attorney's lees and entry upon the Property to make repairs. Any
<br />amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional indebtc
<br />edness of Borrower secured by this _llortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts chap. 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 pe.-missible by
<br />applicable law. Nothing contained in this paragraph i shall require Lender to incur any expense or do any act
<br />hereunder.
<br />8. Ynapeetioc. Lender may make or cause to he made reasonable entries upon and inspections of the Prop-
<br />erty, provided that Lender shall give Borrower notice prim• to any suc{r inspection specifying reasonable cause
<br />therefor related to Lender's interest in the Property.
<br />- 8. C=:~s~~a-.. The proceeds of any award or claim for damages, direct or consequential, in conneotion
<br />with any condemnation or other taking of the Pmperty, or part thereof, or for conveyance in lieu of condetnna-
<br />tiara, are hereby assigned and shalt be paid to Lender.
<br />In-the eventof a total taking of the Property, the proceeds shall t>e applied to the sums secured by this Mort-
<br />gage, with the-excess; if,any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower
<br />and Lender otherwise-agree in writing,-there snail lie applied to the sums secured by this ~'iortgage such pmpor-
<br />lion of the proceeds as is equal to that proportion which the amount of the sums secured by this Mortgage imme-
<br />diately prior to the date of taking bears to the fair market value of the Property immediately prior to the date of
<br />taking, with.tite balance of the proceeds paid to Borrower.
<br />U the Property. is.abandoned by Borrower or if after notice by Lender to Borrower that the condemnor offers
<br />to make-aa award orsettle a claim-fur damages; Harrower faits to respond to Lender within 3o days of the date
<br />of such notice;-Lender is authorized to collect and apitiy the proceeds at Lender's option either to restoration or
<br />repair of the Property or to the sums secured b3' this Mortgage.
<br />Unless Lender and Harrower otherv~ise'agree in :vriting, any such application of proceeds Lo principal shall
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