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<br />,iPid : i_~erder a" ; be zinm of ctrl `,+, at,v„ u_ u t t _ ,. .. ~ { s;r~r - .,. .. _49;*. tub+.~,
<br />. Fitie~an 6# z~rsymers#s i~nl~-5- .~i,~-1~~_as, ! i ~ rte , . da.~r os° .r r ... ,~ ~,,. f.uFr .~ralYi~ .1 },.E- l.Y~rdcr
<br />under ti.e ~,'~oie and paragraphs 7 attd 2 herrci ,.~Esii ire y,i;,li~~.~ C i }~ .L~~=.aI r ~4:-'. ut, I+t~,~'rizau,nt _, eGntai~3,; r =, j,s~,,n~:r3t:~ to
<br />Lend. -.• BcrrY~-er under paragraf?ls 2 hc>rcaf, lite~n to infeta rrz: ~ti"r i,.i :,:,_ '~. ia',r,a.i ~~~n :~nt,ur ,~a:: r:~ce,,. t.
<br />asy; _ni then to the principal of the tiote arci fo lire principal of Future ,i=ivances. i~ ant.
<br />~a. Cet~gas; i.iens. Borrasver shall pay ail taxes. avessments and other charge=. fines and impositions attrib-
<br />utable to the Property which may atkaizr a priority over this iortgage. anr_1 ground rent=, if any, a•t Lender"s
<br />optian in the rt inner provided under paragraph 2 !;ereof or by Borrower znakinK payment, :vher. due, directly w
<br />the payee t;,ereaf. Borrower shall pramptly furnieh to Lender all notices of amounts due under this paragraph,
<br />and ir. the event Borrower shall make payment directly, Borrower shall pr»mptly fu€nishta Lender receipts evi-
<br />dencing such payments. Borrower shall promptly- discharge cry lien which has priority aver shin :~inrtgage; pro-
<br />vided, that Borrower shall nat. be required to discharge any such lien so long as Borrower shall agree in writing to
<br />the payment of the abIigatiar, secured by such lien ir. a manner acceptable to Ierder, or shall in good faith contest
<br />such lien i,y, or defend enforcement of such Lien in, legal proceedings which operate to prevent the enforcement of
<br />the lien or :orfeitnre of the Property or any part thereof.
<br />S. Hazard Insuroace. Bano:ver shall keep rite hn;.rracements nmc exisiing ar hereafter erected on the Prop-
<br />erty izsured againss loss ey fire, hazards included tvifhi*: the terr±t "extended coverage", and such oche, hazards as
<br />Lender may require and in such amounts and for suci, !unods as Lender znay require: provided. thai Lender shall
<br />not require that the amount. of such coverage exceed that amount of coverage required to pay 'the sums seeured'by
<br />~~ 'this it~iortgage.
<br />The insurance carrier providing tize insurance shall be chosen by Borrower subject io aphrovai by Lender;
<br />provided, that such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid
<br />~ at Lender's option in the manner provided coder paragraph 2 hereof or by Borrower 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 pmtect
<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 optian of Lender, constitute a default
<br />under the terms of this Mortgage.
<br />All msuranee policies and renewalst-hereot• shall he in form acceptable to Lender and shall include a standard
<br />mortgage clau~.e in favor of and in form acceptable to Lender. Lender shall bare the right io hold the policies and
<br />renewals ihereuf, anu' Borraw•er shall pramptly iurnisit `o Lender all renewal n„~ices ar~d all receipts of paid pre-
<br />miums. In the event. of loss. Borrower shall gic•e prompt notice to the insurance carrier and Lender, and Lender
<br />may make proof of toss if not made pramptly liy Borrower.
<br />Lttiless Lender and Borrower otherwise agree in writing, insurance proceeds shall he applied to restoration or
<br />repair of the Property damaged, provided such restoration or repair is econonricttlly 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 .Mortgage would be impaired, the insurance proceeds shall be applied io the sums secured by this 11lortgage,
<br />with the excess, if any, paid to Borrowers Ii the Property is abandoned by Borrower or if Borrower fails to respond
<br />to Lender within 3Q 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 rite insurance proceeds ai Lender's option either io
<br />restoration or repair of the Properly or to 'the sums secured by this ::Iortgage.
<br />Unless Lender and Borrower otherwise agree in w•ri"ling, auy such application of proceeds to principal shall
<br />not extend or postpone the due date o£ the monthly installments referred to in paragraphs 1 and 2 hereof or change
<br />the amount of sttch installments.
<br />If under lrsrsgraph IS hereot the Ymperty is acquired by Lender, all right, title and interest of Borrower in
<br />and t?? snv insurance policies and in ¢>nd to the proceeds thereof lto the extent of the sums secured by this 1Sort-
<br />gage immediately prior to such sale or acquisition) resuliiug from damage to the Property prior to the sale or
<br />acquisition shall pass to Lender.
<br />8. Preservation cad Mcm>4tenance of Pra~rty; Leaseholds; Condomutiums. Borrower shall keep tlce Prop-
<br />et~y in goo«i rzpai=. ^••d _ha'_I tact 1;?rtnit or eanantit waste, iznpainrcut, ar deteriaratior. of the Prapert.}° and shalt.
<br />comply wiUh the provisions of env tease. iE this \lortE;a>;e is an a leasehold. If this ~Iortsa~a is on a condominium
<br />unit, Harrower shall perform ail of Borratver`s abtigations under the declaration of eandantinium ar master deed,
<br />the by-laws and regulations of the eandotttiuiu.n ltrajecc and canststuer.t docurteztts_
<br />7. Protection of Lendei s Security. If Borrower fails to perform the covenants and agreements contained in
<br />this 3ortgage, or it any action or proceeding is commenced which materially affect; Lender's interest in the Prop-
<br />erty, including, but not limited ta, eminent daznain, insuh-eucy, 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 such sums and take such action as is necessary is protect Lender's interest, including, but.
<br />not limited to, disbursement of reasonable attorney's lees and entn• upon the Property to make repairs. Any
<br />amounts disbursed lay Lender pursuant to this paragraph 7, with interest thereon, shall become additional indebt-
<br />edness of Borrower secured by ibis 1lartgage. Unless Borrower and Lender agree to other terms of payment, such
<br />amounts shall be payable upar. uutice Isom Lender to Borrower requesting payment thereof, and shall bear iafer-
<br />est from the date of disbursement at the rate stated in the \ote unless payment of interest at such rate would be
<br />contrary to applicable law, in which event sac}: amounts shall bear interest at the highest. rate permissible by
<br />applicable law. Atothing contained in this paragraph i shai require Lender to incur any expense ar da any act
<br />hereunder.
<br />8. Inspection. lender may make or cause to he made reasonrthle entries upon and inspections of the Prop-
<br />erty, provided that Lender shall give. Borrower noiirc prior is any >uch inspection specifying reasonable cause
<br />therefor related to Lender"s interest in the rroperty.
<br />9. ~ondemnati4n. The proceeds of any awanl er claim for damages, direct ar consequential, in cenneetion
<br />with any condemnation or other taking of the Property, or part thereof, or for conveyance in lieu of condemna-
<br />tion, are 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 t.hc sums secured b}• this Jiort-
<br />gage, tvif~lt_the excess, if any, paid to Borrower. In the event of a partial tai:ing of the Property, unless Borrower
<br />hnd Lender otltertuise agree in writing, there sltali be applied to the scans secured by this Mortgage such prapor-
<br />tron of the proceeds as is equal to that- proportion which the amount of the sums secured by this ~Sortgage imme-
<br />diately prior to the date of taking bears io the fair market value of the Property ^nmediaiely prior to the date of
<br />taking; with the balance of the proceeds paid to Borrower.
<br />If the Prapertg is abandoned by Borrower or if after notice by Lender to Borrower that. the condemnor offers
<br />to make an award or settle a claim for damages; Borrower fails to respond to Lender within 3d days of the date
<br />at such notice; Lender is authorized to collect and apply the proceeds at Lender's option either to restoration ar
<br />repair of the Property or to the stuns secured by this \Iorigage.
<br />Unless Lander and Borrower athernise agree in writing, any 9t1e11 applrCAtton of proceeds to principal sizaii
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