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<br />..~ul apl?is-. no I.tt2r tiueua lir,.....]iatc l .ardor t t,2- ~,:ai u' 'Ie Yni ,i: •+.:• ~,t a~~a{iia~ rti~ :, i',ua 1. F. 'It a` :.. Q p.r:~;;.
<br />1 ~__~, k_xy ?.-,_:?r;i -1- i:IUr.~_d.t at~r,~1,t,~t a.t~ .,w ~ •re.l:? app- i ~_ ,,,- --- -°.. _, ~J '.~•~r tl:., .:9r,..,,-~ .
<br />v. 1i,pplicaityn ref Paymonik~s. ii*tFe,_:~ e:,~,;ltt~,::.:~~~ ~ n„o~;a II aati~,e~:rt ~, or~lE kr.;yn.~_retl~~h s+a,na~ ~a~a: 'h} I .,ud,Frr
<br />rder r _~'~'nta; 3n<i p:=ra,graplrs I :arr~ 21_~reK:P :l:.rkl };t~ 'xrdlr,!_,:a it I. -~l=.c har'it:t 1?.yn,.~nt rrQ utsuutkttnt's iia,~~sUC~^ t;r
<br />Lerc;cr r~• Borrower under ,,aragrahl2 ~ IaerLaf, td,e2. to ;r^st~,es. lauya9~h~ on #he~ 7tiote avu9 ran I'v~tu-e Aasanees, i.
<br />ny, an€i than to the prinripsi of the tiatr and :._ the ,arncipai of 1`-afore :}riane~_. i~ any.
<br />d. Charges; Liens. Borrower s1}all pa}- ail taxes" assessments and otl;er charges. fines and impositions attrih-
<br />utabla co the Property wlricti may attain a priority over this _llortaage, and graurad rents. if env, si Lender's
<br />option in the .Wanner provided under l,aragralah 2 hereof or by Harrower making payment, when due. directly to
<br />the payee thereof. Borrower shad promptly furnish to I,2nder all notices of amounts due under this paragraph,
<br />and in the event Borrower shall make payment directly, Borzawer shall promptly furnish fo Lender receipts evi-
<br />l deneing such I;syments. 3arrower shall promptly discharge env lien which Itas priority over this lortgage; prc-
<br />tided, Lhat Borrower shall not lac required :a discharge any such lien so long as Berrr,E;er s#tail agrez in writing to
<br />the payment of the obligation secured liy such lien in :: manner acceptable to Lender, or shall in good faith contest
<br />such liar; hy, or defend enforcement of sueit lien ir.; legal ;>roceedings which operate to prevent the enforcement of
<br />the lien .,r forfeiture of the Property ar any ;part nc~reof.
<br />5. Hazard Insurtmee. Borrower stall keep fire Iegrrovements now exisiing or hereafter erected on the Pron-
<br />'^~ e:•t}• insured against toss by fire, hazards includes within the term "extended coverage", and such other hazards as
<br />~ L Lender may require and in such amounts and far sucl; periods ss Lender they require: provided, that Lender shalt
<br />~ not require that the amount of such coverage exceed that amowtt of coverage requirer] io pay the sums secured'by
<br />this i43ortgage.
<br />" - The insurance carrier providing the insurance sha[I be chosen by Borrower subject to approval by Lender;
<br />provided, that such approval shall not be unreasonably withheld. _111 premiums on insurance policies shall be paid
<br />at Lender's option in the manner uravided under paragrapi2 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 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 Aortgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br />under the terms of this Mortgage.
<br />Atl insurance policies and renewals thereat shall be in form acceptable to Lender and shall include a standard
<br />mprtgage clsuse in favor of and itt terra, accentahL_- ua Lendea•. T endv_r shall have the right to hold t6P policies and
<br />renewah ~:rereaf, wind Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid pre-
<br />miums. In !ire event of loss, Borrower shall give {arotnpt notice to the insurance carrier and Le*tder, and Lender
<br />may make proof of loss if not made promptly by Harrower.
<br />Unless Lender and Borrower atlaencise agree in Writing, insurance proceeds shall be applied to restoration or
<br />repair of the Property damaged, provided such restoration or repair is economically feasible and the security of
<br />this Mortgage is hat 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 bortgage,
<br />with the excess. if any, paid to Borrower. II the Properly is alaandoned by Borrower or if Borrower fails to respond
<br />eta Lender within 3Q days after notice by Lender to Borrower thai the insurance carrier offers to settle a claim for
<br />insurance benefits, Lender is authorized to collect snd 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 othenvise agree in writing, any such application of proceeds to principal shall
<br />hat extend or postpone the due date of the monthly installments referred to in paragraphs 1 and ?hereof or change
<br />the amount of such installments.
<br />If under paragraph 18 hereof the Property is acquired by Lender, alI right, title and interest of Borrower in
<br />and io ant insurance policies and in and to the proceeds Thereof ~ to the extent of the scone secured lay this Mort-
<br />gage immediately prior is such soft or acquisiiioni resulting front dan-~age to the Property prier to fire safe or
<br />acgtati±itiori siaaii pass tU Lender.
<br />6. i zresasva?irin acid a~+Itrsatea~tce cf Pt`ooerty; Lecnaefaolds; Gondarniaiutns. Barrnwer snail keep the Prop-
<br />eruy in goad repair ann shall root pertnii or commit waste, impairment, or cieteriaration of the Property and shall
<br />ce~,iaply »itis it% proviatans of ans• (case, If tl'iIa Fltirtgage is ati a iea~rhaiti. it dais 310rtgagC IS on a COWQOm}mum
<br />tinii, noix-owe; ;ail nsrfor~i ,ail of Borra~vtr's Qvligations under the dreiaratian at eonciaminium or masier deed,
<br />the by-laws andfregulations of the condominium project and constituent documents.
<br />7. Iarotectian of Loader"s Security. If Borrower fails to lrerfortn the covenants and agreements contained in
<br />this Mortgage, or if rr.}• action or proceeding is commenced which materially attests bender's interest in the Prop-
<br />erty, including, but not limited to, eminent domain, iusotvency, ctxie enforeearent, or arrangements or proeeed-
<br />ingsinvolving abankrupt or decedent, then Lender at t.endcr's option, upon notice io Borrower, Wray make such
<br />appearances, disbm•se such sums and take such action as i; necessary to protect Lender's interest, including, but
<br />not limited t.o, dishuraeatent oI re:asonahle attorney's fees and entry upon the Property to make repairs. Any
<br />amounts disbursed by Lender pursuant to this paragraph : ,with interest thereon, shall become additional indebt-
<br />edness of Borrower secured hp this Mortgage. Unless Borrower and Lender agree to other ternrs of payment, such
<br />amounts shall be payable upon notice from bender to Borrower requesting payment thereof, and shall bear inter-
<br />est from the date of disbwseutent at the rate stated ip the \ote unless payment of interest at such rate would be
<br />contrary to appiicabie la~v, in which event such amounts shall bear interest at ilte highest rate pertuissihle by
<br />applicable laa•. `dottting contained in this Iaragraph "shall require bender to incur any expense or do any act
<br />hereunder.
<br />8. Inspection. Lender may crake or cause to he tnadc reasonable entries upon and inspections of the Prvp-
<br />=rt.-:, pra°didrd :`.°' I.-`rider =-.s.' g:=z t3o;tea=; e; nati:~e f,rior to .tnp su~•!s inspcctzan -pz.cifyinK r2asonabiE rgust
<br />therefor related tv Lender's interest in the Pronerty.
<br />3. Gondemnatfan. The proceeds of any award or claim for damages, direct or consequential, in connection
<br />4ciih any condemnation or other taking of the Property. or part thereof, ar far conveyance in lieu of condemna-
<br />tion, are hereiay assigned and shall be paid to Lender.
<br />In the event of a total taking of the Property, the proceeds shall be upplicel to the sums secured by this Mort-
<br />gage, with tt°i`e erseess, if any, paid io Borrower. In the event of a partial taking o! the Property, unless Borrower
<br />and Lender otherwise agree in writing, there shoal be applied to the stuns secured by this Mortgage such propor-
<br />tion of the proceeds as is equal to that proportion which the amount of the some secured by this Mortgage imme-
<br />• diately prior to the date of taking bears to the fair utsrket value of the Property immediately prior to the date of
<br />taking, with the bal~nee of the proceeds paid to Borrower.
<br />If the Property as abanc}onei'. by Borrower or if after notice lay Lender to Borrower that the condemnor offers
<br />t:a m°so ar. award or settle a elairzi-fardamag~, Borrower fai'ss to respond to Lender within 3C days of the date
<br />of auah notice, %ender is authorized to colieci and apply the proceeds at bender"s api.ion either to restoraiion or
<br />repair of the Property ar ~ the suns ~en2•ed by €his ~lat•tgage.
<br />i;niess Lender and Borrower athertvise agree in writing, any such application of proceeds to principal shall
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