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l rarde~„ ;rar ~.ra~,ry,h, lh....,rt ,.t~_ 1''rx~a,>= ? ,- r.- ~6:e ~f'ny.i- is~ ~Yti„-~~ i+rr .i p~i~;,es~i am L,r~sriidr,€ l.e;~ifier
<br />}~tl'~I al;~!.la, nn tat€r ,dc.~s=.: i.?uu•.,~a>~tr:}~ snar'~ iii ~ s~~, u: ta~• I"rcr}~i ~is~,s• ~~iur :r •,Is?: ~€+~utyn }~: l,~ iE,,il~+.~:. ws, €"umBs
<br />°._.r:{ ~'~• :.~:a ',e,~ vt fil3s. tin?r~ r>..,};p a:r, ,.on, ,:.~ ~. i mi it r i i , ~~, .,,. a,i ~ ~ei ~: }„ ,1.: '.9:~,.Y~};ahr,.
<br />3. ~!lpplicaEion c# Paysnants. 'f~nds~+„ w}6}nCa r§ilir z, il,~rowia}r. -r¢b,~r,~:~,r, ~ztial prvr~,hrnn= ~i,r~ixi~~~rdi b} Laazhrile.r'
<br />r.:rnigta• 4~~~}.~c; _~ore and paragraphs I and ~ 9,a. ~~•q,f ~~ylu~?Bl '9,n, rh, :petit b^~ l.~~rnrlcr IarFt in }ra}naeaat of ~rb~,irraunt f~rt} ~ulr-_ ;,o
<br />Lender i'>}• Borrower ender paragraph 2 hereo:, t9rr_y, tv ira!_°r~~t };;:r°~a4~,Pc ern the_Vote arc. +ar: Futare :'advances, i.
<br />any, s„d then to the principal of the emote coif to th€ prfrrcipal of I'uturc .-".dranet._, if any,
<br />4. Charges; Liens, Borrower shall pay all taxes; assessments and ocher charges, fines and impositions attrib-
<br />utabie to the Property which may attain a priority over this 3ortgage, anti ground reni=, if any, at Lender's
<br />option in the manner provided under paragraph 2 hereof or by Borrower making payment; when due, directly to
<br />the payee Thereof. Borro,a-er shall pmmpily furnish co Lender all notices of amotmts due under this paragraph,
<br />and in the everi Borrower shall make payment directly, Borrower shall promptly iurnish to Lender receipts evi-
<br />dencing such payments. Borrower shall promptly discharge any Tier. which has priority over this Mortgage; pro-
<br />1.,~ vided; that Borrower shall not b~ required to discharge any suet: lien so long as Harrower shall agree in writing to
<br />,~ the payment of the ob#igation secured by such lien in a manner acceptable to Lender, or shall in good faith conkest
<br />~, f~ such Tier, hy, or defend enforcement of such lien in, legal proceedings ,which operaie io present the enforcement ei
<br />the lien or forfeiture of the Property or any part thereof.
<br />~ 5. Hazard Insurance. Borrower si:all keep the improvements now existing or i?ereaiter erected on the Prop-
<br />erty insured against loss by fire, hazards included within the term "extended coverage", and such other hazards as
<br />Lender may require and in such amounts and Ter such periods as Lender ntay require; provided. that Lender shall
<br />~ not require the+, the amount of such coverage exceed that amowrt of coverage required to pay the sums seo~±*ed'by
<br />ro this i4lortgage.
<br />The ins:rarce carrier providing the insurance shall be chosen b}• Borrower sabject to approval by Lender:
<br />provided, that such approval shall not be unreasonably withheld. ill premiums on insurance policies shall be paid
<br />at Lender's option in the :Wanner provided under paragraph ?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 />:+a :,,t~.e~t .....,.,.o „ ±hn ; nrnyamnntc pay the nraminms nnri such cum shall become
<br />.. ~ g_.._..... --- - -- -
<br />immediately due and payable with interest at the rate set forth in said note until paid and shall be
<br />secured by this 34ortgage. Failure by Borrower to comply may, at aption of Lender, constitute a default
<br />under the terms of this Mortgage.
<br />All insurance policies and renewals thereof sirall be in form acceptable to Lender and shall include a standard
<br />rnnr{gage clause in favor of and in form acceptable to Lender. Lender shall have the r;gl?t to ho}d the policies and
<br />renewals thereof, and Borrower shall promptly furnish to Lender all renewal notices and all receipts of paid pre-
<br />miums. Ir. the event of loss, Borrower shall give prompi notice to the insurance carrier and Lender, and bender
<br />may make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shalt he applied to restoration or
<br />repair of the Property damaged, provided such restoration or repair is economically ieasitile and the security ui
<br />this lortgage is not thereby impaired. If such restoration or sepsis is not economica!fy feasible or if the security
<br />of this Mortgage would 6e impaired, the insurance proceeds shall be applied to the ,urns secured b}• this Mortgage,
<br />with the excess, if any, paid to Borrower. If the Property is abandoned by Borrower nr if Borrower fails to respond
<br />ter Lender a•it.hin 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 extend or postpone the due date of the monthly installments referred to in paragraphs 1 and 2 hereof ar change
<br />the amount of such installments.
<br />It under paragraph IS hereof the Property is acquired by Lender, atl right, title and internst at Borrower in
<br />and to any insurance policies and in and to the proceeds thereof tto the extent of tiu° sums secured by this Mort-
<br />gage immediately prior to such sale or acquisition ~ resulting from damage to the Yroperi}- prior to the sale or
<br />aequisitiori shall pats to bender.
<br />6. i?reservation cad R4aintenance of Property; Leaseholds; Condominiums. Borro,er shall keep the Prop-
<br />erty in good repair and shall not permit. or commit waste, impairment, ur deterioration of the Propert}• and shall
<br />comply with the provisions of any Jesse, it` this Mortgage is on a leasetrold. If this Mortgage is on a condominium
<br />unit, Borrower shall perform all of Borrower', obligations under "the deelat~;iion of condominium or rnas-ter deed,
<br />the by-laws and regulations of the condomiuiun? project and constituent documents.
<br />7. Protection of Lender's Security. If Borrower fails to perform the covenants snd agreements contained in
<br />this bfortgage, or if any action m• proceeding is commenced :which materially adects Lender's interest i^. the Prop-
<br />erty, including, but not limited to, eminent domain, insoh-enc}•, code enforcement, or arrangements or proceed-
<br />ings involving a bankrupt or decedent, then Lender at Lender'. option, upon notice to Borrower, may make such
<br />sppearances, disburse such sums and take such action as is necessary to 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 6}• Lender pursuant to this paragraph 7, with interest thereon, shall become additional indebt-
<br />edness of Borrower secured by this Mortgage. Unless Borrower and Lender agree to other tem?s of payment, such
<br />amounts shall be payable. upon notice from Lender to Borrower requesting payment thereof, and shall bear inter-
<br />est from the date of disbursement at. the rate stated in the :Vote unless payment of interest at such rate would be
<br />contrary to applicable law, in which event suet; amounts shall bear interest.:tt the highest rate permissible by
<br />spp}icable isa•. \ot.hing contained in this paragraph i shall require Lender to incur any expense or do any act
<br />hereunder.
<br />B. Inspec5on. Lender may make or cause to be rnadc reasonable entries upon and inspections of the Prop-
<br />ertv, ;?r;,v:`'e=1 tl;t I:?=_„per =laa1': giv? Rcrrewer natirc prio!- tc, any sorts inspection specif}•ing reasonable cause
<br />therefor :slated to Lender's interest. in the Property.
<br />9. Coadexanation. The proceeds of any awsrd or claim for dan?ages, direst or consequential, in connection
<br />with any condemnation ur other taking of the Property, or part tlrcreof. or for conveyance in lieu of cor?detnna-
<br />tian, are hereby assigned and shall be paid to Lender.
<br />In the event of a total taking of the Propert-y, the proceeds shall be applied to the sums secured by this Mort-
<br />gage, with the excess. if any, paid to Borrower. In the event of a partial taking of 'the Property, unless Borrower
<br />and Lender otherwise agree in writing, there shall be applied to the sums secured by this Sortgage such propor-
<br />tion of the proceeds as is equal to that proportior. which the amount of the sums secured by this Mortgage imme-
<br />' diately prior to the date of taking bears to the fair market. value of the Property immediately prior to the date of
<br />taking, with the balance of the proceeds paid to Borrower.
<br />If the Property is abandoned by Borrower ar if after notice by Lender to Borrower that the condemnor offers
<br />to make an awsrd or settle a claim far damages, Borrower fails to respond to Lender within 30 days of the date
<br />of cue h nvt•iec, Leader is authorized to co}lost and apply the proceeds ai Lender's option eiiirar to restoration or
<br />repair of the Property or to the sums secured by this Mortgage.
<br />i:n}ess Lender and Borrower otherwise agree in writing, any such application of proceeds to principal sha#1
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