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Ii •a..iaar paragra-~s ,$ ~~ica~c~l 9ti~~, d~'rro+~t ' _. _z,E ll reiar,~~tr,. ~-'~.r-e ~ .....;:.~; t ~ 1, r•_e.. ..e..r',~,
<br />..:ale app), n..~ter .'s;a.. ;.a'~uroe.~b l,el7- ~,rr~i:~r ite~ vlac ~f I i~r I,~:r~t~ ~ r i > ~. ; .. iar; N~. } Trar,l ~. .u=: F,.-,r~l
<br />held .~_r at the; eta- r,[ app t~ it+r~a :- ; ~, ~ . a~ t ~ i i , ,+~ .r i l ~~ ar ~
<br />3 ?t°i?icatiwx cf Payraa~ents V rule~~a~~. ,;lei :~.~-,.~ ..•.- ~,,a, ril'i , rrwst. n ,.•. :.I; -:.:rne rth ~: reiivn~~i ir,~c Lenraler
<br />urde. t E :~ifaeand 1>arr~ral,i'm; 1 ear+t ~~l lac>t , I'. ~.;,a,us l;r apl,tie. N>, I.i,~G:uNi,° ";irsr ir., ksuy,*._,~ni e~f ark~rnures'. p :a;.•able t.€>
<br />Len.ler ~~;,' Borraw•et unle q~.era~r.plr "E' l;erec,h~, ta~en to rnterr-t gi,ia~,.al~ r v'r'; ts.i,iii ~,ota~ ar<f can ;`'o'~A~#.t3~rr..~avanr~t•s, if
<br />any, and then to the principal of"'the N""ate and to the principal of f~'uture :'ti%aa nr•~, ii any.
<br />~. Charce€; tic-ems. Barrower shall k,ay all taxes, assessments and other charge=, fines and impositians attrib-
<br />utable to tle Prv~erty whirtr may attain a nrority over this jortgage, and grmind rents, ii any, at L-endei s
<br />~~,, optior. in the manner prc;.•ided under paragraph 2 hereof or by Borrower making payment, when due, directly to
<br />the payee thereof. Borrower shall prompily furnish to Lender all natiees of amounts due under this paragraph,
<br />~> and in the event Borrawer shall make payment directly, Borrower shall p ramptly furnish xo Lender receipts e+:-
<br />denting such payments. Borro:er shall prompilc discharge any lien w•hieh has priority oser this _Mortgage; pra-
<br />vided, That Borrower shalt not he required to discharge anv such lien so Tong as Borrower shall agree in writing to
<br />the payment of the obligation secured by such lien ;n a manner acceptable to Lender, or shalk in good faith contest
<br />such lien by, .r defend enforcement of such lien in, legal proceedings which operate to present the enforcement of
<br />~ the lien ar forfeiture of the Praperty m• any part thereaf.
<br />1~ 5. Hazard Insur~ce. Barrower shall keep the improvements new existing or hereafter erected an the Prop-
<br />erty insured against foss by fire, hazards included within the term "extended coverage". and such other hazards as
<br />bender may require and in such amounts and for such periods aS Lender may require: provided, that Lender shall
<br />not require that the amouai of such coverage exceed brat amount of coverage required to pay the sums secured'by
<br />tmis ~Iortgage-
<br />The insurance carrier providing the insurance shall be chosen ly Borrower subject to approval by Lender;
<br />provided, that such approval shall not be unreasonably withheld. All premiums on insurance policies shalt be paid
<br />at Lender's option in the manner provided under paragraph 2 hereof or by Borrawer making payment, when due,
<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 pre test
<br />its interest, may procure insurance on the improvements, pay the premiums and such sum shall became
<br />immediately due and payable a-ith interest at the rate set forth in said note until paid and shall be
<br />secured by this Mortgage. Failu=-e by Borrower to comply may, at option of Lender, constitute a default
<br />under the terms of this Mortgage.
<br />All insurance policies and renewals thereaf shall be in form acceptable to bender and shall include a standard
<br />mortgage clause in Tavor of and in form acceptable to Lender. Lender shall have the right to hold the policies and
<br />. ,. .,ate khcr nr .,.i R., ...~ she-ll )ra. tl: f 1' w L a " ~ uai
<br />renew .e.,., a.. .,rrv..~r I mp urr..s . '~ en~er a„ renews, -- `.ic,~s and elk receipts of paid pre-
<br />r,aiums. In the event of toss, Borrower shall glee prompt notice to the insurance carrier and Lender, and Lender
<br />may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in :writing, insurance proceeds shall be applied to restoration or
<br />repair of the Praperty damaged, provided such restoration or repair is economically feasible and the security of
<br />this :Mortgage is not thereby impaired. If such restoration or repair is not economically feasible or if the security
<br />of this ~Sartgage would be impaired, the insurance proceeds shall be applied to the sums secured by this Aior[gage,
<br />with the excess, if any, paid to Borrower. If the Property is abandoned by Borrawer or if Borrawer 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- the insurance proceeds at Lender's option either 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 exiend ar postpone the due date of the monthky installments referred to in paragraphs 1 and 2 hereof ar change
<br />the amount of such installments.
<br />Ii under paragraph 18 hereof the Property is acquired by Lender. alt right, title acrd interest of $ot•rower in
<br />and to any insurance policies and in and to the proceeds thereof tto the extent of tle sums secured bu tlit Mort-
<br />gage immediately prior to such sale or acquisition) resulting from damage to the Property prior to the sale or
<br />acquisition shall pass to Lender.
<br />6. P!•eservarion ~adi~imatenance o2 i~ra~rty: Leaseholds: ~andomiaiurss. Borrawer shall keep tle Prop-
<br />erty in Qaad re,?air and shall net permit ar commit waste; impairment, cr cieterierativn of the Prope~~r° and s hail
<br />comply wit) the provisions of any lease, if Ghis Mortgage is on a leasehold. Ii this lfortesee is on a condominium
<br />unit, Borrower shall perform all of Borrower's obligations under the declaration ot` condominium or master deed._
<br />the by-Taws and regulatirns of the condominium project and constiiuent documents.
<br />7. haotectian of Lender's Security. If Borrower fails to perform the covenants and agreements contained in
<br />this llort.gage, or if any action or proceeding is conunenced which materially affects Lender's interest in the Prop-
<br />erty, including, but not limited to, eminent domain, insoh-enev, code enforcement, or arrangements or proceed-
<br />ings involving a bankrupt or decedent, then Lender at Lender's option, upon notice to Borrower, may make such
<br />appearances, disburse suckr sums and take such action as is necessary to protect Lender's interest, including, but
<br />not limited ta, disbursement of reasonable attorney's fees and ent:rp upon the Property io make repairs. Amy
<br />amounts disbursed by Lender pursuant. to this paragraph i, with interest thereon, shall become additional indebt-
<br />edness of Borrower secured ly this Mortgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall by payable upon notice from bender to Barrower requesting payment thereaf, and shall bear inter-
<br />est 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 bear interest at the highest rate permissible by
<br />applicable law. Nothing contained in this paragraph 7 shall require Lender to incur any expense or do any act
<br />hereunder.
<br />B. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Prop-
<br />erty, provided that Lender shall give Borrower notice prior to :uty such inspection specif;~ing reasonable cause
<br />ihe.afcr =-~lat~-d tv Lender's inior2st in t'tre Propartr-.
<br />~. ~.on~xexariation. The proceeds of any award or claim for damages, direct or consequential, in connection
<br />with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemna-
<br />tron, are hereby assigned and shall le paid to Lender.
<br />In the evant,af a-total taking of the Property, the proceeds shall be applied to the sums secured by this Mort-
<br />gage, with the excess; if any, paid to Borrawer. In the event of a partial taking of the Property, unless Borrower
<br />and Lender otherwise agree in writing, there shall be ap?rlied to the sums secured by this \Sortgage 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 />• diately prior to the date of taking bears to the fair market value of tle Property immediately prior to the date of
<br />taking, with the balance of the proceed,-paid to Borrower.
<br />If the Property is abandoned by Barrower ar if after notice by Lender to Borrower that the eondenmor offers
<br />to maw an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days of the date
<br />of shah r•atiee, Lender is authorized to collect and apply the proceeds at Lender's option either to restoration or
<br />repair of the Praperty or to the sums secured by this Mortgage,
<br />Unle.:s Lendnr and Borrower otherwise agree in writing, any such application of proceeds to principal shall
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