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<br />l-:~itl .,p.iC~ty, cnr:r 131tf=r than im a eu¢~7.telCv pr, ,r to -rx- _~a,r t1 1:.-~ Yuri a rr ,q=~~u~• .,~~ ~ 3.rt, r, r .,.
<br />f'~i ld I,y LE..~r,u a the ttrxfe v+ ,.yii.iew.t~a.t ~_ ~~: c fit .y~,u: lue'~ >-, .~c-_.r ,., i h r
<br />:1..g~p~ulin:~c~n~llcx~t u~# payznenis,. Unlasw ag~rrl.c~:rf„ u„• ~itrc~w,::},= n ~ .. .,1 iaal u~a.~R- te_ t~; ~~,~, ire ,~.,~,te;~
<br />tt~~ra~,:e, t?~e "'+a~F,~u ar~ct ,, ~ a~ag~.~ '1 nrc@ 2 l.creaf ;~ z't6l w,) Va?,k u~ 1 ~Iry Lf..-~_1 ~hr~ ~ra grayrti gat r,' €_, <.t..ta., ;te.,.~taae ta;r
<br />Lender €: I3u~rr~oMv»r ender parsgrapdt `~' iterevf. "T_7~reas to fate ;oa}•a^,lc- an e y'u;te anal or: ~s .,_ _ Ad-u ,ce.. ;f
<br />any, a,d then to the grir!cipal of rite Fate and to the !,ricacipa's of Future aclvances..f any.
<br />4. Ciaar~es: lierrs. Barrowerhail pay itil ta~:es. assessments and v[her charge-, .r'tres and impcsitians attrib-
<br />usable to the Property which may attain a prioziiy.aver this Mortgage. a ground retrts, ii any, at Lender's
<br />option in the manner pravided under paragraph 2 l,ereai or b}• Borrower :nskirg payment; when due. directly to
<br />~1 the payee thereof. Borrower shall promptly furnish to Lender all notices of amounts due under this paragraph,
<br />and in the event Borro:a-er shah make garment directly. Borrower shall promptly furnish fo Lender receipts evi-
<br />deneingsuch rayments. Borrower shall promptly discharge any lien which has prig:icy over this .iortgage; pro-
<br />vided, that B~~rrewer shall not be regmred to discharge any such lien sa iarg as Borrower shall agree in writing to
<br />the payment of the obligatia^ secured by such lien in a manner acceptable to Lender, or shall in good faith contest
<br />such lien i3y, or defend enforcement of anti: lien m, legal !troceedings which operate to precept the enforcement of
<br />the lien or forfeiture of the Property or any part titereaf.
<br />ay 5. Kazcc;d Insurance. Borrower ehatl keep the iutproretnents no:v existing oa• hereafter erected on the Prop-
<br />~ erty insured against loss by f, re, hazards ircludeci n•ithir: the term "extended coverage". and such other hazards as
<br />Linder map require and in snob amounts anti for such periods as Lender mar requires; provided, that Lender shall
<br />rot require that the amount of such coverage exceed that amount of coverage required to pay the sums secured'by
<br />this I~iortgage.
<br />"i'he insurance carrier providing rite insurance shall he chvseit by iaa,awe,- subject t., apf.rern! by Le.^.d~r;
<br />provided, That such approval stall not be unreasonably withheld. 311 premiums on insurance policies shall be paid
<br />at Lender's option in the manner pravided under paragraph 2 itereaf or by Borrcwer making payment, when. ~;ue.
<br />directly to the insurance carrier.
<br />In the event any policy is not renewed on or before ten days of its expiration, the Lender, to protect
<br />its interest, may procure insurance on the improvements, pay the premiums and such sum shall become
<br />immediately due and payable with interest at the rate set forth in said 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 />311 insurance policies and renewals thereof =hall be in form acceptable to I:ender and shall include a standard
<br />mortgage clause in favor of and in form aceeptahle to Lender. Lender shall have the right to hold the policies and
<br />renewals thareoC, and Borrower shall prampth- furnish to Lender all rane:val notices and all receipts of paid pre-
<br />miums. In the event vt loss, Borrower shall give prompt notice to the insurance carrier and Leader, and Lender
<br />may make proof of loss if not made promptly I>y Borrower.
<br />Unless Lender and Borrower oihenr•ise agree in writing, insurance proceeds shall be applied to restoration or
<br />repair of the Property damaged, provided such resteraton or repair is economically feasible and the security of
<br />this _iortgage 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 Londe,- within 3~ ~~^^° after : ^tice by L ender to Bvrraw•et• thar_ the insuraneP carrier offers to settle a claim for
<br />insure ace bone&ts, Lender is authorized to collect and apply the insurance proceeds at bender's option either to
<br />restoration ar repair of the Property ar to the sums secured b}• this \4ortgage.
<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 instalhnents referred to in paragraphs I and 2 hereof or 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 />acrd to any insurance policies and in and to the proceeds tliereoi tta rite extent of the sums secured by 'this Mort-
<br />gage ;mmediately prior to such sale ar scquisitian} resulting from damage to the Property prior to the sale or
<br />oL::3::1`it'.... t; j::ao° to ri.r_ .u~..
<br />€. P:r:=~c:. ~d ~Icin#eacs:ce of Frapnzty; I.er~shcids: Gondomisiua~. Borrower shall keen rite Proo-
<br />erzy i- oaf :pair and si:all not Hermit or conunit waste, impairment, ar deteriarstiatr of life Property and shall
<br />.vv Lpl. .,....... ..., . - .,. ease, if this =iortgage ss a . ieh... . v`ir.•"age ,- art s couda,utniuu~r
<br />~..~ .~. p:a11L• rfa°^ all af~Barrower's abligaiians ttnd€r thy. de%~ia .tia.,~viF:-anduminium or r~;.ster dc~d.
<br />theLby-laws and regulations of the condominium project and constituent documents.
<br />7. Praiection of lender"s Security. If Borrower fails tc perfvrm rho cvveuants and agreements contained in
<br />this iortgage, ar if any action or proceeding is commenced which materially atlects Lender's interest in the Prop-
<br />erty, including, but not limited [o, eminent domain. insuh•encp, code enforcement. or arrangements or proceed-
<br />ings involving a bankrupt or decedent, then bander 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 />not limited t7, disbursement of reasonable attorney':: tees and carry upvn the Property to make repairs. Any
<br />amounts disburseu by I:ender pursuant to this paragraph 7, with interest thereon, shall become additional indebt-
<br />edness of Borrower secured by this \iortgage. Unless Borrower and Lender agree to other terms of paymenk, such
<br />amounts shall be payable upon notice from Lender co Borrower requesting payment thereof, and shall bear inter-
<br />est from the date of disbursement at the rate stated in the tiote 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 permissible by
<br />applicable law. Nothing contained ir. this paragraph "r shall require Lender to incur any expense or do any act
<br />hereunder.
<br />8. Inspection. Lender may make or cause to be made reasorahle entries upon and inspections of the Prop-
<br />erty, provided tha± Letader sltsll g;ve 13arrawer rat=.cc prior to :a=ty such inspection specifying reasnnairle c :use
<br />tho:•efar related to I~nder's int~re€t in the Property.
<br />9. condemnation. The proceeds of any award or claim far damages, direst or consequential, in connection
<br />with any condemnation or other taking of the Property, w• part thereof. or for conveyance in lieu of condemna-
<br />tion, $re hereby assigned and shall be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be applied to the sums scoured by this Mort-
<br />gage, with the excess, if any, paid to Borrower. In the event of a partial taking of the Property, untess Borrower
<br />and bender otherwise agree in writing, there shall be applied to the sums secured by this :iortgage such propor-
<br />tion of the proceeds ss is equal to that proportion which the amount of the sums secured by this Mortgage imme-
<br />distely prior to the date of taking bears to the fair market value of the Property itnrnediately prior to the date of
<br />taking, with the balance of the proceeds paid to Borrower.
<br />If the Property is abandoned by $orrowet' or if after notice by Lender t.o Borrower that the condemnor vffers
<br />to make an award or settle a claim far damages, Borrower tails to respond to Lender :vit.hin 30 days of rho dates
<br />of uch naLiaa L~nd2r is sutharued to collect grid apply the liraceeds ai Lender's option either to restoration or
<br />repair of rho g,~pe.ty ar to the sums secured by this _llartgag2.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall
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