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Ii ti :der laragraph 1£S !;creel ~rhe Prof Frt~ tt !~tY~a' ., iira~ I'o rai rrt~/ ~ jthyrraiti ac^q,i:rr.l 1>.° L~ :aier. l~~eneier
<br />-h~<l! apple ntn ipnte~r eliran irttrnediatta'dy prier to r7te a,i1C~ oi' t:ue. Nrol~,e¢t*, n[ i.r atw,alt,a~,i±',itrr~ 9 , l,t,rtdr:r, any; huns.t~.~
<br />lr.,id by Lende,r:ut t9:e cline of ata;rlsca=.~im~i a_ .t crcrdit to-' f ir~r ±lit ~cai,-~ ~h. ru~F~r! 4~,e4• th-s :hfrtr a.~i,~.
<br />3. 1:gFaliccrfi'~on o{ Payments. L~tnies~ c}~rpli+ral,rha liv.ec ~~rr~cxttlbe~ tstltaria~sar, r~tll pa~,i•tttc,[f, tocrhivecl ley 1i.e~rider
<br />under a,e _"+otx¢ and paragrall>hs 1 and 2 hererrihall i~wr apl'tlhrd hp '$,~xte~ft° fit:ti: in trac;r>trnt- of ,:n-a:>atvtts payable tta
<br />Lender Bay Borrower under paragraph '? hereof, LEeev to interest` ltrtyable o:r t-[ie rG~ota: acrd on Future Advances, if
<br />any, and then to the principal of the NOtc and to tl:e principal of F'utttre Advancee, if env.
<br />$. Clrorges; Liens. Borrower shad pay ail taxes, asses4tnents and other charges, fines~and impositions attrb-
<br />utabla to the Property which may attain a priorii}• over this Mortgage. and ground rents, if any, at Lender's
<br />option in the manner provided under paragraph 'l hereof or 1}}• Borrower nrsking payment, when due; directly io
<br />the payee thereof. Borrower shall promptly furnish to bender all notices of amounts duo under this paragraph,
<br />and in 'the Brent Borrower shalt make payment. directly, Borrower shat! promptly iurnish to Lender receipts evi-
<br />,~'; denting such payments. Borrower shalS promptly discharge anc lien which has priority over this 3ortgage; pro-
<br />~'~j vided, that Borrower shad not be required to discharge env stash lien so long as Borrower shall agree in writing to
<br />i~ the payment- of the ohligatimt secured by such lien in :a mariner acceptable to Louder. or shall in good isith contest
<br />~,~ such lien try, or defend enforcement of such lien in, legal proceedings which overate to prevent. the en€orcement of
<br />the lien or forfeiture of the Property or any part thereof.
<br />S. Iiazazd Insurance. Borrower shall keep the improvements now existing or hereafter erected an the Pron-
<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 for such periods as Lender map require; prcvidecl, that Lender shall
<br />f`~ not require that the amount ai such coverage exceed that amount of coverage required to pay the sums secured'by
<br />this Mortgage.
<br />The insurance carrier providing fire insurance shall be chosen b~- Borrower subject to approval by Lender;
<br />provided, that such approval shall not he wrreasonai;ly withheld. Ail premiums on insurance policies shall be paid
<br />at Lender s option in the manner provided under paragraph '? hereof or by BOt•ron•er makir g payment, when due,
<br />directly to the insurance carrier.
<br />in the event any volley 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 />All insurance policies and renewals thereof spa]! be in form acceptable to Lender and shall include a standard
<br />tnorteaee clause in favor of and in forte ser_.eptable Lo L Pnder. Lender stall leave rite right *_v hold tlrc lrolicie= and
<br />renewals thereof, and Borrower shall prmnptly furnish to Lender all renewal notices and sll receipts of paid pre-
<br />miums. In the event of toss, Borrower shall give prompt notice to the insurance carrier and Lender, and Lender
<br />may make proof of loss if not made promptly try Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, instu:ance proceeds shall be applied to restoration or
<br />repair of the Property diunaged, provided such restoration or repair is economically feasible and the security of
<br />this l~iorfgage is not thereby impaired. If such restoraticn or repair is not economically feasible ar if the security
<br />of this \iortgage would be impaired, the insurance proceeds shall be applied to the sums secured by this Mortgage,
<br />with the excess, ii any, paid to Borrower. If the Property is abandoned t>}• Borrower or if Barrawer fails to respond
<br />to Lender within 30 days after notice b}• Lender to Borrower that the insurance carrier offers to settle a claim for
<br />insurance benefits, Lender is authorised tv 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 t., in paragraphs 1 and 2 hereof or change
<br />the amount of such installments.
<br />If under paragraph IS hereof the Property i5 acquit•rti !sc Lender, all right, title and interes6 of Borrower in
<br />and iv say insurance nolicies and in anti to the proceeds thereof tto the extent of the suma secured by this Aiort-
<br />gaga itntnE~iately !trier to suc}t sale ur acquisitionr resuhing fi•vm damage to Hrc Propnrt}• prior to the sale yr
<br />agnirsitgii shall pair tb Leririe2_
<br />n. a-raser>rgt;on and i$aigiigatrce of F'roaerty; Leaseholds, Condumi~rr~s~, Burrntver sltr:lt k.~n ±he Pmn_
<br />arty ir, gees! repair ar.:l shall nut pernttt or rc;mtrit w'tste, impairment, or deterioration 02 the Properly and snail
<br />%s€u:yl} t+:4:: i-lie ,rri : iSiissi-- Lt any lam, ;I th:s :tivrtgagt' tk c)n a lea5ehOld. Ir thlS MOr{gage is vn a ~Ciniterntnrirm
<br />unit, Bcr u~r sitRii i:~:farra sI! of Born~cver- ubiigaiirn+ nrider till tic*clarxtiun of cOnd4tninium er In3st8P did,
<br />the by-laws and regulations of the condominium lrrojeet and constituent docutne:nts.
<br />7. Pratection of Lender s Security. If Borrower tsils to pert•crrm the covenants and agreements contained in
<br />this Eortgage, or if any action or proceeding is comatenced io•hich materially affects Lender's interest in the Prop-
<br />erty, including, but not hsuited to, eutim•nt damain. insoh•ency, stale enforcement, or arrangements or proceed-
<br />ings invoiviug a bankrupt or decedent, then. lJencler at I.ertder's option, upon notice to Burrower, tray make such
<br />appearances, disburse such suma and take such action as is uceessary to protect Lender's httenat, including, but
<br />not limited tv, dishursrn:cnt of reasonabic: attorney's tees :t:td entry upon tht+ Property to make repairs, :'tny
<br />amounts disburacct by t,c tiler lxtrsuant- to this paragraph i, whit hderest thereon, shall become additional indoht-
<br />edness of Borrower scoured by this \lortgage. Unless Borrower and Lender agree tv other terms of payntt-nt, such
<br />smoun(s shall be payable upon notice ft^'n !.rester m Borrower requesting pag•ment thereof, and shall bear inter-
<br />est from the date of disbursement at. the rate Gated in t-he Note unless payment of interest at such rate would ter
<br />contrary to apphcabia iaw,in which event such a[nnuuts shall bear interest at the highest rata permissible by
<br />applicatrle law. Nothing roatained in thi- laragraph "shall require !.ender to incur any expense yr do any Get
<br />Itereunder.
<br />8. Iusptrction. Lt=viler ma}~ snake per cause to he mride reiisonitbto entries upon and inspections of the Frop-
<br />ert;~, F r ~ t I-enE € ~!~yii~ ElC~rrVwi3r ntrtii'C' tii`ioi i 11' kiit'h titilif?ftiaitt ~trct'ttx7ng r~a~fl#;i4i~tc canoe
<br />thcreiar n rated tv Lender s interest in the Property
<br />9. Condemnation. The proreeds of any award or claim for damages, direct yr catsequential, in eonneoiiun
<br />with any cvndenmation ar other taking of the i'roliertp, or hart thereof, vt• for cunreyatrce in lieu of rondt?tnn:i-
<br />txvn, are hereby assigned and shall 6e paid to Lender.
<br />In the event of a total taking of the Property, the prtmceds shall be applied to the gums securer! by thin Mort-
<br />gage, with the excess, if any, prod to Harrower. In the event of a partial taking of rho Property, unless Borrower
<br />and Lender otherwise agree ht writing, there shall be applied to the scans secured by this Mortgage such propor-
<br />tion vi the p*oeeeds as is equal to that proportion which the amount of the sums secured by this iortgage imme-
<br />' diately prior to the date of taking heel's to the fair utarket value of the Property immtdiateh• prior to the date vt
<br />taking, with fhe balance of the proceeds paid tv Borrower.
<br />If the Prvpet7y is abandoned by Borrower or if after notice ny Lender to Borrower that the condemner offers
<br />to tnat:e nn awarder set$ic. a clairrr for damages, Borrower €ails to respond to Lender within 3ff days of the date
<br />of suc8 no"rice, Lander is nuthvrized to collect and aplrly ttte proceexis nt T.cnder's option either to restoration m•
<br />repair cf the Property yr to the sums svetrred br rliis ifortgag%.
<br />Unless Lender and $orrower otherwise agree in writing, any sucl. application of proceeds tv principal Shall
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