|
~ L.» urll~_~I~7, :~ ~„^„~~ ~ r...~~~~ ~ p r,u II"~i. ~ ~ 1'r~= If r..-f „r~.,, ~~u•~r7~ t Ilu•~,~r~~r,i + `r!'w~n.,,r, i„G~rr
<br />:u r
<br />-I'-~~w~i . ~- i u' Irt I. .'=-1 i ~ I.'*Ila I tlai i ~L~i~~~ wd i ~ ~ I- ~ III IL', •7 p ,~ uu~~l'~u l I i o~li+~-°r~ -.i~,ui,ir~ir' ir; ili'sllr~r~ll--
<br />-. ,
<br />r lit„II a l;i.~ l i I In r..~ I :., I+ ~ ail cu, i col i,!I pV I ~ ,il II ~' t.~^r r lu i Il~~l . rr~~;~ d I
<br />b ~ip~.uir.rgitiravai rat h'ml~rn~nis't ~s~ i o ~c~: vl ,ii a Ikk~ l I ri i~,~~~uuul ~ I it-ir- il~llll~ II~II ~~~~ ha_~ rlrl~ II i.u4 u ~ 4 ral~rlrrr
<br />,._. _ f,_ :.x4,1 _.: » ~ .. ..:- ... i,., ~F-Y ~ . .- ..-"4 _r-
<br />~ 1-
<br />#. tih¢.4s•s Lr~axxs- 3~ >}x~ ae s-, -`E'- a. -s~Z „r_ e.3 .,rye; ,~,
<br />~ ~ _ ~ C::_ t'. a-i't;t .re's .~.. '~ ...... hfc=°2 ... 2;-r ...~ .~r, . a~~~'. a.. lr,. ~~'_
<br />- -~~-. ., ° i ed. .ar `art .._ ~,. ,A>*a.''. `~ ..k~m. r, s fyir~7r:>~~, ...y~; :~ f33:•ma t- •a•£If^.: ~. d.TeC': to
<br />r ,.. }ri w-aa Bortra I' " zip -t= -* s ,~ x' s n :r s*a ra• --
<br />F ~
<br />and e f G4- `G .s e ,CL , d -[ rc • '. - KOrrca.4 3,-- t- t*^- s .Q to i ~ 'a. .~~ ~.;.
<br />~ Deny, ,~, z r ~~ ~zzaar,c-. i3~,:uu~r zaa , ,..o . _, -:~- xrg£ ar; E •n3.... .,ra.._~ ~.~..»,zs 3io zgaf_.
<br />~( vidw Bo *•other ha , o rr{iiireri o .s ?t n rt e so .o ~ a Bo~•r per , sa•~ agree r wn sng to
<br />.tea i
<br />~ ~ , rgpa - -~. ,z ,lam afi"z ~~ r ~ ~ ,, z ~ t - .a.i z xooc a ~rn.e;t
<br />''~~`=h ie -y, ar lete .,t eafo,cemeaLLx v4 ~ _ ~-~ .i..:n~ :. r~ F~---~. - ..,e to , .e•.~ , ,;.f enfa=e~:~n` o.
<br />. ~ the Isen or forfesture of the Pro~erii o ~ r re t ~,.~
<br />~ 5, Hazczd Irsanrtuace. Borra ,z. _.,:.I: k{-e, ~ ~. t..:,n,eme.,~, no:t ~x~= sc.„ yr sereafter erected or. flee Prop-
<br />_ ._ ~„ c-rcy ~ sureri against loss by 5re, i~azar<l: incsu~te<i witr:z: the term ''extenaed coverage". and sz:ch oilier aaaardr~
<br />I.er,der may require and in sur_h acnourts and for suc: ;,nriods as Lender ma rc~uuire: provided. t-haL Lender sisal-i
<br />not require that. rise zmoun*_ of suc;: coverage exceesi *.i.at amount of coverage required to pay the sums secureri"by
<br />_ this ~.Iortgage.
<br />:"he insurance carrier laroviding the insurance shah be chosen it}• Harrower subiect to approval by Lender
<br />pravice:9, that suer. approve! s%:a11 rat he xWireasonably withheld. All I;rezniums on insurance policies a};all be paid
<br />at Lerzd~r's option in the :Wanner provided under parsgrap?, 2 hereof or by Borrower making payment. when due.
<br />directly o the insurance carrier.
<br />In the event any policy is not renewed on or before refs days of its ezpiration, the Lender, to pr~PCt
<br />- its interest, may procure insurance on the improvements, pay the premiums and such sum shall bee-:-~e
<br />immediately due and payable with interest at the rate set forth is said note until paid and shall be
<br />secured b.. this Ivforgage. Failure by Harrower to comply may, at option of Lender, constitute a default
<br />under they t~-rrsa of this MaRgage.
<br />All insurance policies and renewals thereof shall he in fomt acceptable to I,cnder and shsIl include a standard
<br />r,iortgage ciaassc in favor of and in form acceptable io Lender. Lender shall have the right to isoid the policies and
<br />renewals thereof, and Bonea•er shall promptly furnish to Lender aII renewal notices and all receipts of paid pre-
<br />- mums. 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 />Linless 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 economicall}• feasible and the security of
<br />this .Mortgage is not thereby impaired. If such restoration nr repair is not economically feasible or if the security
<br />of this ~Iartgage would be impaired, the assurance proceeds shall be applied to the sums secured by this Rfertgage,
<br />with the excess, if any, paid to Borrower. Ii the Property is abandoned by Borrower or if Borrower fails to respond
<br />to Lender withinsu days after nonce by Lender to BorrGwcr that the ir,suranee carver of€~ ~ to settle a ^la~m for
<br />insurance benefits, Lender is aut.horiaed tv collect and apply the insurance proceeds at Lender ~ option either to
<br />restoration or repair of the Property or to the sums secured b}• this \iortgage.
<br />-_ rJnless Lender and Harrower otherwise agree in writing, app such application of proceeds to p*incipat shalt
<br />not extend or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof or change
<br />== Else s:.-^eunt of such imsts'.Iments.
<br />Ts ,; n~l?r pA_ragr=}ph 1$ hereof rhP ProperEy is a:quired h;; Lender, all right; titlz and interest o€ Barrvw~r in
<br />and to any insurance policies and in and to the proceeds thereof tto the extent of the sums secured by this Ivfort-
<br />-.gage immediately prior io such sale or acquisition! resulting from damage to the Property prior to the sale or
<br />acquisition shall pass to Lender.
<br />~ a~°=~-~•*`,icn ,:a d 1'~~.;.:~~-e cf n; ys Isholda; dvr..;sin.:s. 13orra:ve. shaifi keep a..e P:•op-
<br />eriy in good repair and shall not permiE or commit wasie, impairment, or deterioration of the Property and ~nxlt
<br />comply witY the pmvisions of any lease, ii this lortgage is on a leasehold. Ii this 1lorEgage is on a condominium
<br />- - wait, Borrower shall perform ail 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 />` ? 7. Protection of Lendei s $eesuity. If Borrower fails to perform the covenants and agreements contained in
<br />this ~lorteage, or if any action or proceeding is commenced which materially affects Lender's interest in the Profs-
<br />erty, including, bui not Limited to, eminent domain, insolvency, code enforcement, or arraugements or pro~eed-
<br />ings involving a bankrupt er decedent, then Lender at 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 />noE limited to, disbursement of reasonable attorney's lees and entry upon the Property to make repairs. Any
<br />amouu~ disb~u*sed by Lender pursuant to this paragraph 7, with interest thereon, shall become additional indebtr
<br />edness of Borrower secured by this 3lortgage. r3nless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upon notice from Lender tp Borrower requesting payment thereof, and shall bear inter-
<br />` eat 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 (-}ear interest at the highest rate permissible by
<br />-__ _- applicable law. Nothing contained in tlsis paragrapls 7 shall require Lender to incur any expense or do any act
<br />- hereunder-
<br />- g. Ynspeetion. Lender may make or cause to be made reasonable entries upon and inspections of the Prop-
<br />- erty, provided the+__ Lender slsall giv° Barrewer notice I~rioe to env such inpection specify ing reasonable cau~
<br />therefor related tcs Lender's interest in the Property. .
<br />~. t;aadeaasnatfoa The proceeds of any award or claim for damages, direct or consequential, in connecEion
<br />with any condemnation or other taking of Ilse Property, or part thereof, or for conveyance in lieu of eondemna-
<br />Lion, aze hereby assigned and shall be paid to Lender.
<br />In the event of a fatal taking of the Property. t:ie proceeds shall tae applied to ilia sums secured by this Mort-
<br />gage, with exCes~ if ~riy, paid to Burrower. In the event of a partial taking of the Properly, unless Borrower
<br />and Lender otherwise agree in wilting, there shall be applied to the sums secured by this 1ortgage such propor-
<br />Lion of the proceeds as is equal tr, that proportion ahieh the amount of the sums secured by this s>yfortgage imme-
<br />diately prior to the date of taking bears to rise fair market value of rise Property immediately prior to the date of
<br />takrng, with the balance of the prneceds paid tv Borrower.
<br />If the Propel-ty is abandoned by Bar:ower or if after notice by Lender to Borrower that the condemnor offers
<br />to make an award or settle a claim for darnages, Borrower fails to respond to Lender within 3t) days of the date
<br />of such notice, Under is autlsorised to raller_t and apply the proceeds at Lender's option either to restoration ar
<br />repair of the Property or Eo the sums secured by this Mortgage.
<br />finless Lender and Borrower c,tnertvise ~~~ it writing, sty such application of proceeds to pr,rcipal shall
<br />;`~
<br />
|