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<br />If under paragraph tS hereof thr Propgrt}• is sold or the Property is otherwise acquired in- Lender; Lender
<br />shall apply, no later than immediatelc prior fa the sale of the Property or it:- acquisition by Louder. any Funds
<br />held by Lender aE the time of application as s credit against the Bouts secured by this Mortgage.
<br />3. Application at Payments. unless applioablc hnc provide.; nthenaise, all payments received be Leader
<br />under rite Bate and paragraphs 1 ;wd '? hcn,of =hull he applied h} T.endcr first in payment of amounts payable to
<br />Lender by Borrower under paragraph 2 hereof. then to interest p:n•ahlc on the Aetc and on Fuhtre Advances. if
<br />any, and then to the principal o[ the Votc and to the principal of Ftrture :',dcances. iC xny.
<br />Q 9. Charges; Liens. Borrower shall pay- all taxes, assessments and other charges. fines and imposition< attrilr-
<br />utable to the Property ,t=hich may attain a pnorit~--ever this \lm•tgage, and grom[d rents, if any, at Lender's
<br />option in the manner provided under paragraph ?hereof or bc- Borrower making payment, when due, directly to
<br />the payee thereof. $orrower shall prmnpth- furntsi; to Lender all notices of mnotmts due under this paragraph,
<br />and in the event Harrower sha13 make psy-ntent directly. Borron cr shall prontptlc iurrish to Lender receipts eyi-
<br />O denting such payments. Borrower shall },routpth- dis charge anc lien which has priority- Deer this llortgHge: pro-
<br />vided, that Borrower shall not be required to discharge any- such lien so long as Borrower shall agree in reciting to
<br />' the payment of the obligation secured by- such lien in :, manner acceptable to Lender. or shall in good faith contest
<br />~ such lien by, or defend enforeemgm of such lien in, legal proceedings which operate to prevent the enforcement of
<br />-~ the lien or forfeiture of the Pmpern- m' any- part I!;ergoi.
<br />S. Hurd Insaraaee. Borrateer shall keen tin' uuln'ocements non' existing or hereafter erected on the Prop-
<br />erty insured against loss b}• fire, hazard= inciuded',,it}tin ing term "extended coverage-'.:uni such other hazards as
<br />Lender mac require anc in such amomrs :u:e for atcit periods as Lender may require: provided. that Lender shall
<br />` not require that the amowtt of such corerage exceed r, i;at amount of coverage required to pas the sums seeured'by
<br />this vlortgage.
<br />The irsursnce carrier providing the ittsnrsncr shs;i be chosen by Borrower subiect to approval by- Lender:
<br />provided, that such appmva3 shall not i,e ;tttrgasonabi} withheld. All premiums on insurance poiieigs shall be paid
<br />at Lender's option in the manner prac;de:i ..trier I~sragr::ni: '! henoi or hr Borrower Luskin:; payment, ,Then due,
<br />directiv to the insurance carrier.
<br />In the event any polic}- is not renewed on or before ten dacs of its expiration, the Lender, to protect
<br />its interest, mac procure insurance on the improvements, pay' the premiums and such sum shall become
<br />u ug ,t:a.~„ d„~ .,,t t,t ~-;tl; , H,~: at the racy .Pt fr.rth -,- ~_Ir3 ~tP r,ntil Uu~d and chap he
<br />.., pay-a.:.e
<br />cured by~tthis~\iortgage. Failure be Bormwer to comply may, at option of Lender, constitute a default
<br />under the terms of this Siortgage.
<br />:111 insurance policies and re:ten'sis ti;ere~ -i;aii be in faun ac~•eptahl•~ to l.euder and shat! include a standard
<br />mm~gsge c3suse in favor oC snd in forn: acceptsblr to Lender_ Lender stroll hoe t=the rigor to hold the policies and
<br />tenetvals thermi, snd Borrower shsli promptly furnish to Lender all renett'sl notices and all receipts ei paid pre-
<br />miums. Ia the gent of lei. Harrower sits3l vice i~rotnpt notice to Lhe insurance carrier snd Lender, and Lender
<br />may make proof of loss ii not made promptic- be Bormwer.
<br />Ltnless L=nder and Borrower othernise agree in writi*g. insurattc~• proceeds shs31 be spulied to restoration or
<br />*_epair ei the Pinpenv damaged. nroyidr,i such r.~stortt:o^ or repair ~. econon,i.•silc ?easible snd the security of
<br />this Mortgage is not. fhgreby impaired. I' such LYStaratiar: ar repair is nut ~ot:outicaiiy iessible ar if the securit}'
<br />of this :Iortgage woo}d lx impaired, t_.a insurance }+rocegLs shall he ap;;iiz.i to th,• sous secured by this Mortgage,
<br />with rile excess, ii anc, paid to Borrower. if rite Yropgrty is shandor:e;l izv Borrower or if Barmn•er Exits to respond
<br />to Lender within 3Q dacs Biter native nv Lercer to Borrower that t}te insurance carrie.* oh`gt~ to settle a claim for
<br />insurance benefits, Lender is authorized to caliect std apply' rite tnsursnce proceeds at Lender's option either to
<br />restoration ar repair ai *_he Property ar to the sums secured by this \longage.
<br />IInlea Lender snc Borrower ottternise serer in writing, any- suc1: applicatioat of pmcgeds to principal shall
<br />not estead ar postpone the due date of the ntanthh- installments refs ;-ed to in paragraphs I std '_' hereof or change
<br />the amatmt of such installments.
<br />If Lmder narsgrsph 18 hereof t}:e Yraneny is acquired by Lender, x11 right. titic and interest of Bormwer in
<br />and to any irsursneg nolicigs and in sr.,~ to tl.e procec~Is thereof eta the e,;trrt of the sums "...red by this Mort-
<br />gage imrr:ediateh- prior to such ;ale or sc~uisition! rest;lting imm csmsge to t..r Yn,},rnc :•:iar to the safe or
<br />acau~ition -hall pass to Lender.
<br />fi. Pr,iservatioa Dad Maiaien~ce of 1?ropei.y: Leaseholds: Condominiums. Berron-gr shad keep the Prop-
<br />er*_v in gam repxi* snd ;:tat} net }Krtnit c .omnvt waste, impairment or deteriarattan of the Pro}tznc and sha31
<br />comply u-ttk the },n,r-iars of nnv 'H~r. itlth;, Mortgage .. .. -- .'u... ,.t 1 , tgsgc :- ar. a condominium
<br />unit, Borrower s_*.a!i pcriarru sit of $arro:rer's al,iigstio--,~ •~nde- r.r srrisrvttot: ~_, i~o*;aan;iniutn or :na>ier deed.
<br />the by -3as'e Hnd 3'eegntaiAOn~. ai the fan u3n11r-lllnt _^rO1CiI Sn,l ~t~n>t ]I L'c'n? ,SJt•tn:rtitb.
<br />7. Proieetioa of Leader's Security. ]i Borrower i.._,. o p~riant: rite ~.,re.wrts a::d agreement; contained in
<br />the :tiortgage, ar a sn}- action or proceeding is ceutmgncec whicL tuatertalh~ ar3er*_s Lender's interest ir, the Prop-
<br />ert4, iacluding, but not iitnrec ta, eminent domstr,_ :~ofct~m-y~- t,..... ,~n;or.etut•nt. or arrxugements or pracged-
<br />:r ~••
<br />inga irca3yittg x i,ankrir,t or dec.-dent, ther: Lender at 1_encgr s anttou. u} o:t notict to Borra,var. msv make such
<br />appearances, dishur`g sueli sums and take sucL sctian ,- z;e:essary to hrotrct Lender's interest. including, but
<br />not limited to. disbarsem:n*. o; rgssonsble Httornec > ' _ sn.l . ntn- ~ tl:e Pro: env to tusks repairs. Any
<br />amounts disbursed by Lender ,,._•~uani to this i~Hrsp::sty ~, w;*. it interes:•[hereon. shall become additional indebt-
<br />edness of Borrower secure4; by t t_ ~longage- L~nleti Barmtcer at;d Len.ier agree to other tenus of pa}'meat, such
<br />smo•,[nts s:^.x13 be parab'e upon nc-:ice imp: Lane~,er *c gar:over r_.;ucsttng ,av[nent thereof, ar:d shall bear inter-
<br />est from the date of dist~,rrsgment at the rate stated :...he \ate un3t~. ,:,y-me.^.t ai ir,[grest st such rate would be
<br />coatran to applicairle 1st-, in whici< even such arno°;nts shat; bear :-:[ergs*, st rite highest >>^ate permissible by
<br />applicable law. \arlaing enntsine,. i-- .-_,_ _ =xr:gr3, _ _ ~ 4!_ :_.- L= rccr t,a Incur arc esperse or do any act
<br />iaeretrader.
<br />& Iargtectioa. Linder ruse make or r-xuK- :;~ !K ......... ....-cuff?,ir~ ,~::*ne> upor: sn~a in-per±ion=. ai the Pmp.
<br />ekt-_ provided t}.tat Lgndg,- s!,a11 give Be-rower no,. ,'T,,•tot -t ~::, .: tn-pecan;; ~,~zcifying rrt~onable cause
<br />tLxaeiar related to Leader: irzer~-t in the Pia}Knr
<br />~. C.ondeztssratioa, The ptc~ceeds ci ~;ar awani ar ~ ixt:v for ?a[vsges, direct car canseouentiai, in connection
<br />with anc Bona'_tnnation or a[her taking ai tie Yrt,}~r iy ;•;n ti., re-t,i ,ir for ro::cresncty in iic-u ui c~ndemna-
<br />tion, are hereby' as:-±gned and sLa31 lx paid t o Under
<br />In the event of s total Lal-ing of the Pra}xny, tht prtrcrtist-=hsii 1~~ s},plies tt. thr sums secured by- this klort-
<br />gage, with tty~ ext~s, ii~ay, paid to Borrener. its t}:r event of a }:spiel taking ai t}te Ymprny, unless Borrower
<br />acrd Lender otI[era-ise agree in n-riting, there cha13 be a};plig,t to for swtts secured by this Mortgage such propor-
<br />Lion of the proceeds as 3; egtraI to that praponian nhirlt rite amount o? the sums s~-cured by this lortgage imme-
<br />~ dta#elc prior to the date of taking beats to tl;e fair tA;srkei .-slue of the Praprny immediatelc- prior to tt;e date of
<br />takwg, with t}te balance of the prace~3e paid to Harrower.
<br />.~ If the Prtperty is absndaned by $orma'rr or ii triter not:cc- by Lender to Borrower that the condemnor offers
<br />ttt make sn award ar settle a claim for dsmsger, Borrower iaiis to reslxmd to I-ender withit: 30 day-; of the daft
<br />of such natic,e, Lendea is authorized to col3exi anti apnl}- thr };races t_ at 3.cnder'- option either to resh3ratior. or
<br />repair of the Property or fo the sums secured by- this 11on gage.
<br />IIhless Lender and Borrower othertyise agree in writing, sny such spplicstion ai proceeds to principal shall
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