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<br />If under paragraph 18 hereof the Property is sold or the Troperty is othervise acquired bti• Lender. Lender
<br />shall apply, no later than immediately prior to the gale of the Propcrtc or it> acqui~~itian b~• Lender, any Funds
<br />held by Lender at the time of application as a credit iigsinst the asters srcun'd Ir~~ this \[ortga~r.
<br />3. Agplication of Payments. Unless uppiicshlr last- }'rrovtde uthertvise, all payments received by Lender
<br />under the A'ate and paragrap!is I snd'2 hereof shah he applied by L,vrdor first in payment of :unounts payable to
<br />Lender liy Borrower under paragraph 2 hereof, then to intcresi pacrhlc ar, thcYote an,i on Puture Advauees, if
<br />any, snd then to the principal of the \ote and to dot principal of hunitr :\~i,;umes, ii :un•.
<br />4, Chaeges; blows. Borrower shall pay alt taxes, asse~ments and other ci;arges, fines and impositions attrib-
<br />utable to the Property- which may attain a priorit}• over this \tort~agc. and crowid rents. if an}•, st L,ender's
<br />,T option in the manner provided ender paragraph 2 hereof ar h}• Borrun'er niskin;; psynient, a-hen due, directly to
<br />the payee thereof- Borrower shall promptly furnish to 3.endcr ail notice-~ of amw:nts due t:ncier this paragraph,
<br />and in the event Borrower ehsil mskc payment directly, Borrower shall gron3ptl}- fti;;uslt [o Lender receipts evi-
<br />dencingsuch payments. Borrower shall l:romntic discharge an}~ her. which hsa l,riorit}- otter this AIarigage: pro-
<br />_ tided, that Borrower shall not be required to discharge ant such nett sa long ;is Barrnwcr shalt agree in writing to
<br />~- the payment of the obligation secured by such lien hi a msantr acceptable to Lender. or <hsll in ga.~i faith contest
<br />`~ such her. by, or defend erfareement of aicii ?ten in, legal preteedings which nper;ite ro erecter the cr:iarcement of
<br />tT the lien ar forfeiture of fhe Propert or any ;pan ; hereaf-
<br />~ 5. Hazettd Insurance. Barawer =1:all keen th,• improvements now existing er hereafter erected on the Prop-
<br />erty insurYd against loss. b}• ere, hszsnfs inchrded ~-itiiin the term `'extended coverage". and s ~r•i! ether !ia~ards a
<br />Lender ~ s} require nevi in such a!nomus snci fur s.._^ periods as Lender may require_ provided. that Lender shall
<br />not require that the amaunt of such coverage excee,' that amaunt of coverage required t ~ pat the runts eeeured'by
<br />this Martgsge.
<br />The insurance carrier },rociding tine irsur:t;tee shat: Fx chosen b}- Borrower subject to alrpraval br Lender;
<br />provided, that such approval sitali eat 1`e trtreasonabi}- withheld. X11 premiums oti insurance policies slaall be paid
<br />st Lender's aptiun in the manner pra:;der.:.:der ;~aragr;iui: ° hereui ar by Barrou•er viskine l~syn:ent, when due.
<br />directly to the ir4urance carrier.
<br />Zn the event any polic}- is not reneKed on or before ten days of its expiration, the Lender, to protect
<br />ii; interest, may procure insurance on the improvement., pay the premiurris and ouch sum shall become
<br />m..,fld.'ntol~: .t„a na nl,tn a r7, - z},., nt„ {~,Trh ;=a n{o „t:t n..d na _t,nil ho
<br />auaaaac ga.- - -. -,. .... ..,~ ...,~. ..., .,. .., .. 1:..... .... __
<br />secured by t}iis~\iortgage. Failure b} ~Bar-rowta ra camph- ma}', at option of Lender, constitute a default
<br />under the terms of this Mortgage-
<br />311 issur513re policies and ttit:ewsis rise r.t~ .....; !x• m !oru: sreeptablc ro l.c=:,.ier :,n,i ,!,:ill t :cluck a aandan3
<br />mortgage clause ir, favor of sn, in Earn; acre::+t a'.=ie to I.enier. Lenii'r shalt have the rii:iit. to '_told-the policies snd
<br />retieusLs thFroc+i, and Bormucr sltaii pran.,;i~ :.,.,.._.. to I_ctuler alt renewal notices snd ail rrceipte of paid pre-
<br />mium;. In the event of toss. Bazawe: s..__. i.c :tom},>. i.otire to the insursrce carrier and Lender, snd Lender
<br />map male proof ai lass i net maeie pmnipcly >>- $orra;rer.
<br />1~nles; tender sad Borrower ati;ern ire s,r~n :r.:vrir::~, insurance proceeds mall itt• applied to res[araiion ar
<br />i-epsir ai the Propem• amaeed, rimvidc-d >L'i•1; r:au^aion ar repair is economics;lc f~'asibk anti tt;cr security of
<br />this'iortgsge i> not thereh~• . :t,sire•:i. I! -:rrh rc.., ......: or repair is not tconoti:icalia :easihle ar if the security
<br />of this \IoYgaee would be ;m;iaireu. t:e ;. sur:iz:ct l~r~>~ er~i- shall ire appiiet: t~+ thc~ ;um; seeur~ i,v z, ~; Mortgage.
<br />a-ith the acc~, if ant, paid to Borrower if tl:r Prol~ert}- ;: abandoned h}• Borron cr er ;: Barroertr twits to respond
<br />to Lender u'itriin :itl days alter native by Ltnaer to Barrouer [hat the inst:rsiice earner offers to settle a claim ter
<br />insurance bene5as, i.ender is sutnarized [o cultect snd apply flee insursi'ice procteds st Lender's option wither to
<br />rCStarataOn a7 repair of the Propen}- or to tine. wins secured l,}- thi. Mongsge-
<br />Cnless Lender and Barrouer otheru'rse agree in writing, sn:• suci: spr+iiratiar< cif prereeds to princip_gi shall
<br />eat extend or Iwrstpone the due caste of the ino.^.ihi}- instal3ments :-eierre:i to u. },sragrapiis ; and 2 hereof or change
<br />the amaunt ai such iti_~tallments.
<br />It under paragraph li;tereoi zhe Prapcnc is acquired b}- I.tr:der.:r.. riri:t. title s.-i ir;:mst of Borrower in
<br />still to a^.r insiraracc l,aiicies and in sr..; to the proceeds ts,rrr-oi ~ to -i,< t•xtr:a~ t,::e sue.,. ,~ .gyred 'a}• ibis \iort-
<br />gage izn;nediately l:ror t o suet! :sit err sc• uisitier. n: uh;t:~, 'taro _is:!is<e :,: ;.,~ Pn,perty ;setae to rho awls ar
<br />acaai>sitaan shall vs_~ to Lender.
<br />S. Prs~rva~es aad.'+~`=tr:aten~c~ ai Pragart-r: I.~a*ua:ds; Cssdvmiu;u~. Iiot-:~~K•er =hail keep the Prop-
<br />em• in gnat: repair still sh3il ;:at rkrmit nr com:t;it orate. itnpsinrter:*.. ar ~.ietrriorstiet: of the Property and shall
<br />comply watt. the pro+istonr ai any :ear-;; this Manssgt :. n a :t.._:hnlti ii *. his Mangsg<• is on s condominium
<br />unit, $orrower shall Ixriarn: alt of Barro:ver - .1'ist:<u:~ :.., _c ...- `:ieeisratior. of .at:dominium nr master deed,
<br />Itie bC-18R•a' and regllatlOn; Oi Il:t ca:ida:::inl u:i. ..'r~r: s' :i..3 '~.~~..,~n'.'u~'rt :1t3C li;l:t'iiti..
<br />7. Pratectian of Leader's Security. I: PRarraaer ;....- t., : Trion:: rise ~ _,; enants and atireeme~nt, contained in
<br />this .flu-gage, ar ,i snv srtion ar jtrareeaing •, : on.n,r::c•r:. •.: ht.:.:i:strra:tiv sneer, 1_rnder'c interest in the Prop-
<br />extc, including, but eat isdted ta, tnnnent darraii;. i. _ ..,rnrc : t,.i~ t~niorcemem. tar arrangements or proeeed-
<br />ings inyolvirig a banlrapt ar dert~ent. ± ter- Conner :.t l,riiaer~s c,ptaat;_ upar. native to Barrawer. may make such
<br />appearane~. diebtirse surli sum rind take sucli::ctton :,. _ i;e,r9san~ to hratcct Lender-e interest, including, brit
<br />nag limited ta, disbursement cf -easonsirle sttorrev s _ee- and entn• upaii the Ptopertt• to :Hake repairs. An}•
<br />arrmunts disbursed br Lender p:tr,tiant to ti•iis r.arsgr:~n!; ; . u it is interest thz.YOt:. shall became additional indebt-
<br />ed_~ss of Barraar-er scoured try pis \Sangage. I'nic~t Barrawer snd lx^der agree to other terms of papmeni, such
<br />amounts uhall be payah_'•e ::pan notice ;eon: Lender to Borrower requesting payment thereof, and shall bast inter-
<br />eat from the date of dis}tt:rs~_ment at the rate stated u the \ ore unless ps}-met.; ai interest at snci rate R auld be
<br />cmataary to applicable tau-. in which e:-cnt suet. anaounie shalt hear interest at *he highest rate permissible by
<br />applicable Isa•_ '-tiethia:_; rontain~i in tl;is ;,aragra*,s, :l:ai renuirr I_.~nder to ancur an}- expense or do any aft
<br />iasdar-
<br />8. Lender tray make or rsu-=e to 3N~ in_+t.~ te~onable~ c~ntriea upon and in.peetions of the Prap-
<br />erty praridcii tha*. Lender siiaii give Bamiwe* n~xic•c },:-tar !o :inv :u~-li inspection sl,ecifring resaonable cause
<br />ihemfar related to Lender's irter~tt in the Yrauern•.
<br />9. Coedeataatlioa 1'he praeeeds ai any aw~arl or claim far damages, direct or consequential. in connection
<br />u•it,h arty rnndetnnstion or other taking of the Prol~n.•, or ;+an thereof. ar for cauvecanee in lieu of coridemna-
<br />tiaa, are hereby sasigried and shall he paid to Lender.
<br />Ia t3~ event of s total tasting ai ilie Proper.}°, tlie;rrocee:ls =hail he slipiied to the sum= secured by this iiort-
<br />wit33 the excer~, Ii any, paid to Bornruer. 1n the event ai a partial taking of the Property, unle~= Borrower
<br />awl I.euder at}iexseise agrex in writing, there shall tie apl,iied to the suiais serut'ed by ibis ~Sorgage such propor-
<br />tion of #Iie grocceds as is equal to that prapartior. which the amount ai the sums secured Liy this Mortgage imme-
<br />dsa#41p pri>afr to the date of taking bear~z to the fate tiiarirt value of fire Property -smmediatel}- prior to the date of
<br />taling, wirer the balance of Elie proeceds paid to Barrox•er.
<br />I# the Property is abandoned by Borrower or if after notice l,c Lender to Barron-er that the condemnor offer
<br />iq male an award or settle a claim for dstrsages, Borrower isii4 to respond to Lender within 3tl days of the date
<br />of aueh noticE; Lender is suthorixetl;o t=ailed i.nd at+ply tht g,racee{:= :a Lender's Dorian erther to t•estarstitrn nr
<br />repair of t3te Propeny or to the sums secured by t iii., \lartgage.
<br />Litileas I~nder snd Harrower othernir;e agree in writing, any such application of proceed; to principal ~,ha?i
<br />a~ ,AAM-
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