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<br />t:~=l€ ,r'^.i~., + ~av la* _:r ct,rsn a t,r~ ai-rttaatci} qnr=s,e' .~~ rl tr.:,ll. ~' '}iin~ Fry i,ii .r = +t2 ~ i, r. ..l t. t.rr,i r.n,r f a,~ de„ r F .inacl•s
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<br />l,elril'~Ir ` _~.k1e~u• si. the titnu~ of al~rpli+,.taaara ms ~~~~, .u' a.iF;~0.:.nt '~:+r ~uu,- :~rn, ++ , ,~ t~ku+ .",'ar,kt,,~ug,a:,
<br />R. i=s~i7p"uWcor~d'ar„~~n of Payzn€rxat~~s. Ilnlc.~.n t~p+F,+laafal,',le~ +a~r prrrur':,if: a~~ll;~cr°a: v'~,„ ~.:} p:}rye~~,nts ra~s~a.¢rreJl, i,,r„• ls~nder
<br />,:a;cer t e mate and peragrap iss 1 and 2 laereas" ,balk` -N_~ a;;plieai "Y,r 1,..-rrter ,`'ir=s 'in l,ai°,nent ,>f amp:arty rrava~=ii~_ tri
<br />~_.-.llz++;._ vo . .. nds, _ _ „i~ i l:r--_- tl,+ - ro- -nr~rn.~ l,a;•si;Ss~ ,;r, -ne emote and cr, ruzure _ydrarec:. _,
<br />any, ard~then to the princil,alFaf the \otc an:l to the principal ai Future A+};•snces, if any.
<br />~, Charges; :lens. Borrower shall pay all taxes. assessmea,ts an d other charges, fines srd impositions attrib-
<br />utably to the Property which may attain a I-:riority over tl:is Mortgage. asd gro++aksd rent=, if any, at I,endsr's
<br />option in the manner provided under paragraph 2 hereof or by Borrower making payment, ;vhen due, direeth• to
<br />~ the payee il:ereof. Harrower shall promptly furnish to 7,ender ail notice, of amounts due under this paragraph.
<br />~ and in the event Borrower shall make payment directly. Borrower ehali lromptly furnish io Lender receipts ec-;-
<br />deneing such payments. Borrower shall promptly discharge one lien which has priority over this Mortgage; pra-
<br />~ vided, tta«t Borrower snail net be required to discharge any such lien so long as Borrower shall agree in writing to
<br />::r the pavr€,en', ai the obligation secured i3y suela iien in a manner acceptable to Larder, ar shall in good faith contest
<br />~ such }ien by, ar defend enforcement of such iien in, legal proceedings which operate to prevent the enforcement of
<br />the lie : a- ,'arfeiture of the P..*ape:•ty ar any part thereof.
<br />S. Iiasard Insurcnee. Borrower sha!I keep the iut;,rovemerts now existing or hereafter erected on the Prop-
<br />ert. insured against lass by era, hazards included withir, the term "eadended coverage", and such other hazards as
<br />Lender may require and in such amounts and for such periods as Lender may require; provided, that Lender shall
<br />` not reaui;e that the amount of such coverage exceed that amount of coverage required to pay the sums secured'by
<br />this ~Iartgage.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by Lender;
<br />provided, that such approval shall not he unreasonably withheld. Ail premiums on insurance golicies shalt 4e paid
<br />at Lender's option in the manner provided under paragraph 2 hereof or by Borrower making payment, when due,
<br />ua~cctiv t- ~..b .r,~.,€4..w ,..,. r.....
<br />In the event any policy is not renewed on ar before ten days of its expiration, the Lender, to prat-ect
<br />its interest, may procure insurance on the improvements, pay the premiums and such sum shall became
<br />immediately due and payable with interest at the rate set forth in said note until paid and shall ba
<br />secured by this Mortgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br />under the teers of this 1~lortgage.
<br />All insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard
<br />morigage clause in favor of and in forna acceptable to Lender. Lender shall have fire right to hold the policies and
<br />renewals thereof, and Borrower shall promptly furnish to Lender all rene;val notices and all receipts of paid pre-
<br />miums. In the event of loss, Harrower shall give prompt notice to the insurance carrier and Lender, and Lender
<br />may make proof of lass if not made promptly by Borrower.
<br />Unless Lander and Borrower otherwise agree in c,~riting, insurance proceeds shall be app&ed to restoration or
<br />repair of the Property damaged, provided such restoration or repair is economically feasible and the security of
<br />this Alortgage 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 Mortgage,
<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 th:: insurance proceeds at Lender's option eitie8r 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 referred io in paragraphs 1 and 2 hereof or change
<br />the amount of such installments.
<br />If cyder pa€ag.~ph lg hereof the Property is acquired by Lender, all right, title and interest of Borrower in
<br />and ~ any insurance policies and in and to the proceeds thereof (to fife cadent of the sums secured by this ~Iort-
<br />ga;fie immediately prior to such sale or acquisition) resulting from damage to the Property prior to the sale or
<br />acquisition shad Gass to Lender.
<br />o. F.-~ :•~on .~;:::t~~z.ca ez Prz~rty; Lc'to1>as: Csnso€a~iu~. Ba€€ower shall kip the Prp-
<br />„,•t-t~ ;n :.~~~_ rrna;r a„d cha}I not n_ ermit. or commit waste. impairment. or deterioration of the Property and shall
<br />comply with floe provisions of any }ease, if this ',fortgage is on a leasehold. if this Mortgage is on a condominium
<br />unit, Borrower sl-iall perfar;a all of Borrower's obligations under the declaration of condominium ar master dead,
<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 rs commenced which materially affects Lender's interest in the Prop-
<br />erty, including, bout not limited to; eminent domain, insolvency, code enforcement, or arrangements or proceed-
<br />ings involving a bankrupi or decedent, then Lender at Lender's option, upon notice io 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 fees and entry upon the Prnperty to make repairs. Any
<br />amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional indent-
<br />edness of Borrowor secured by this 1-Iortgage. Unless Harrower and Lender agree to other teens 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 a*_ the rate stated in the Note unless payment of interest at such rate would be
<br />contrary to applicable Ia;v, in which crept such amounts shall bear interest at the highest rate permissible by
<br />appGcabie law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or do any act
<br />hereunder.
<br />8. Iflspeetiaa- Lender may make or cause to he made rearonable entri?s upon and inspections of the Prop-
<br />, ~.c;:, p~uiunna t hat Ltn~,e€ shy'=.1 give Ba€rawer police prior to any sorb inspection specifying reasonable c-ausz
<br />thergfar related tea Lender`s interesi in the Property.
<br />- 9. Coxsdsxenation. 17ie proceeds of any award or claim for damages, direct or consequential, in connection
<br />with any condemnation or other taking of the Property, ar part Ehereof, or for canreyance in lieu of condemna-
<br />._ floe, are hereby assigned and shall be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shah be applied to the sums secured by this Mort-
<br />- gage; with t~ eatr~s, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower
<br />and bender otherwise agree in writing, there shall be applied to the sums secured by this Mortgage such propor-
<br />tion of the proceeds as is equal to that proportion which the amount of the sums secured 6y this Mortgage imme-
<br />~diaieiy prior to the date of taking bea,s to the fair market value of the Property immedisiely prior ±o the date of
<br />iai~rg, with the balance of the proceeds paid to Borrower.
<br />I€ tl2A Property. is abandoned by $orrower, or'if after notice by Lender to Horrower that the condemnor offers
<br />+_^, : ntikk ~ °~a.=d or settle a alai io* damages, Borrower fails to respond td L-ender withir: 3fi days of the date
<br />of sash nor3ee, Lendea is author,zed to eolte€:t and apply the proceeds at Lender's option Dither to restoratior, or
<br />r.,~:r of the Pro~rty or to the.s;uus secured by this ~Iartgage.
<br />U€,less Lender a€,d Borracver viherzrise agree in writing, any such applacatiori of proceeds to principal ,hail
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