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<br />If under parr•agrtatrh t8 hereof the Ya•op_tir~' i~ sad,! ar the t'!nnert.y t~ otiieirst_e, 1teslelYred in- LrnF',ar,.r~. d_emrfer
<br />shs{1 ap;~,ly, nu dater than itnnteatiately priar to tBtc sate of the T'rolaert-y a ±r. „~e,y,tisitian by I,en~ler_ :rr,r ka'unxls
<br />he1cl ~by' 1,~~=,ncter art tttc tirnc of applicat~ian a:• ut r,~re~di~t igain~-~~t :i,r ~ut,ta ~cr.n sit },. :I,rs ytai~rga~~~.
<br />3. ?kpplicatian of Payments. I!nIess al~rl~,w!icfrt)tu i:u„~ ptoardes athr~,rtti~.;e. etli payments receivt.~d l;o~' Lendier
<br />unrjer tl,c i'Se>^~,e .oral! l,aragrrrpits I and 2 1~4eru ul ~hurl9 P e aplrllicd try Lcnde~ s 6ir}t i» payatsent~ of amou,tts Tras•able to
<br />Letader try Lorrower w7<ivr l~raragraph 2 lte>aevf: theu~+ to irtie+~rest payable at the Aotc and an 'Futw•e ~;ly..nces, if
<br />any, and then to t-he principal of the late and to ±he prineiltal of Ftaure ~,irance<, if any.
<br />4. Changes; Liens. Harrower shalt pay alt taxes, assessments and other charges, tines and impositions attrib-
<br />uiable to the Property which may attain a priority over this Mortgage, and growtd rents, if any. at Lender
<br />option in the manner provided under paragraph 2 hereof or by Borrower making payment, when duc, directly to
<br />~~ the payee thereof. Borrower shat] promptly furnish to Lender alt notices of amounts duc under this paragraph,
<br />and in the event Borrower shall make payment directly, Borrower shall promptly furnish to Lender receipts evi-
<br />~ denaing such payments. Borrower sha}I promptly discharge any Iien which has priority o:•er this \tort.gage; pra-
<br />vided, that Borrower shall not be required to discharge any such lien so long as Borrower shall agree in ::°riting tv
<br />the payment of the obligation secured by such lieu in a manner acceptable to Leader, or shall in good faith contest
<br />such lien by, ar defend enforcement of such Iien in, legal proceedings which operate to prevent the enforcement of
<br />the lien or forfeiture of the Property or any part. thereoi.
<br />~ S. Huard Insurarrce. Borrower shall keep the iusltrov~ments now existing or hereafter erected on the Prop-
<br />(. ert}• insured against loss by fire, hazards included withita the term "extended coverage", and cucl, other hazards as
<br />Lender may require and in such an;ounts and for such txriods ns Lender may require: provided, that Lender shalt
<br />not. require that the amount of such coverage exceed that amount of coverage required to pay the sums secured'by
<br />this i4lartgage.
<br />The insurance carrier providing the insurance shall be chosen b}- Borrower subjeot. to appro:•al by Lender;
<br />provided, that such approval shall trot be unreasonably withheld.:ill premiums on insurance policies shall be paid
<br />at Lender's aptiou in the manner provided raider paragraph 2 heteof or 6y 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 M1lortgage. Failure by Borrower to comply may, at option of Lender, constitute a default
<br />under the terms of this Mortgage.
<br />X11 insurance policies and renewals thereof shall be in form acccluable to Lcnricr and shall include a standard
<br />tnertgag~ clause in fever of and in form acceptable tv Lender. !.colder shall have the right to bald t.ho pati,~;es and
<br />renewats thereof, and Borrower shall protnpth~ furnish to Lender all renewal notices and all receipts of paid pre-
<br />miutns. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender, sod 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 tv restoration or
<br />repair of the Property damaged, provided such restoration or repair is economically feasible and the security of
<br />into il-Iortgage is oat thereby impsired. If such restoration or repair is nOC CCat1an11COIty feasible or if the security
<br />of this Mortgage would be impaired, the insursnce proceeds shat! he applied to the sums secured by Lhis 'i`lortgage,
<br />with the excess, if any; paid to Borrower. If the Yropet•cy is abandoned 6y Harrower or if Borrower fails to respond
<br />to Lender within 30 days slier notice by Lender to Borrower that the insurance carrier offers to settle a claim for
<br />insurance benefits, Lender is authorised to collect and apply the insurance proceeds at Lender's aptian either to
<br />restoration or repair of the Property or to the sums secured by ibis Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall
<br />not extend yr postpone the due date of the monthly installments referred to in paragraphs I and 2 hereof or change
<br />.the amount of such instsllments.
<br />If under Paragraph 18 hereof ilte Yraperty is acquired i:y Lender, till right, 'titles and interest of Borrower in
<br />and to any insurance poIici~ and in and to the proceed. thereof t,to tlrc extent of the sums se~turcKt by this Mart--
<br />gage imrnediateiy priar to saeh cote ar aegcisitianl resulting ftvm damage to the Property priar to the sale ar
<br />acquisitiop snail pass to Lender.
<br />8_ prN3~3Y~tiQt± sod l~>~een>r~~ ai e}xrrtty; Leseelaoida. Csrrdomirsiums. I?<orrawer sh==t ke~;^ tF _ Prol<=
<br />erty in goad repair and sliail not pi:rr.5it or , amttiit waste, impairment, ot• eleterioration of the Property and snail
<br />comply with tl,e prae isiats of ally tcasr, it , ; Mortgage = at. a lessehoid. If thisllartgage is can a candarrinitntr
<br />unit; lsorrawer si?ait perfonu ai; of l~vrrrca•cr`s o~}igations uneier the declaration of candeminium ar rrraster deed,
<br />the by-la~•s and regulation-> of the can.:cunir:nutt project and constituent docuutents.
<br />7. Protectso>, of Lender's Security. ii Harrower fat;. to perform the covenants sod agreements captained in
<br />this Mortgage, or if any aruan ar prace<•drn~, is camtnenced :which materialh° affects I,encter•s interesk in the Pr~p-
<br />erty, including, twt oat !united ta, ennnent ,inn;,sin. insatvency, code enforcement. or :rrncngements ar faraceed-
<br />ings involving a bankrrpt ar .3ecedent, titers Len,,ier at Lender's aptian, upon notice ' • Borrower, may make such
<br />appearances, disbars= such sums and take such action as i= necesssry tc. protect Lender`s interest-, including, but.
<br />riot hrniteci w, disbursement of tcasanahle attarney'< Fees and entry upon the Property to make repairs-, any
<br />smottnts disbursed. b}' Lender pnrsusnt rt this paragraph 7. with interest thereon, shalt became additional indebt-
<br />edness et Hort~,wcr serut•ed by tl,t€ Mortgage- L*nlc~~. Horrawer and Lender agree to ott?er terns of payment, s :ch
<br />amounts shall i?e payable upon notice fmro l.encier to Borrower requesting payment thereoi, and shat! bear inLer-
<br />est, tram the date of disbus-sement xt shit rata stated iu the Note unlevs payment at int-erect at such rate would be
<br />contrary to applicable law, in which event suet, amounts allots bear interest at the highest. rate permissible by
<br />applicable law. Snthiug eontainc~i in this paragraph 7 shat) require Ixnder to incur any expenao or do any act
<br />hereunder.
<br />8. Tnspeetion. i,euder may make or cause Lo be made reasonable entries upon and inspection3 of the Pmg-
<br />eriy, pra:'idrd that I,epd2r shalt give- Harrau°er• rtatiee priar to art~° su+•tr inapcetton speetfying rea=anaitlc cause
<br />therefor related to Lender's interest in the Property.
<br />9. Condemnation. 'Phe proceeds ot" any award or claim fo* damages, direct or consequential, in connection
<br />with env crsrrdemnation ar other taking of the Property, or part thereof, ar for conveyance in lieu of cvndemna-
<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 ho applied to the sums secured by this 'Ilart-
<br />gage, :with the excess, if any, paid to B lrrawer. In tl:e event o€ a partial tsking of the Property, unless Borrower
<br />and Lender otherwise agree in writing, there shall be applied to the sums secun'd by this \lortgage such propor-
<br />tiara of the proceeds as is equal to that proportion which the amount of the sums secured by this Mortgage imme-
<br />diately prior to the date of taking bears to the fair market va.ue 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 or if after notice by Lender to Borrower that the condemnor offers
<br />io make an award or settle a claim fpr damages, Borrower fails to respond to Lender within 30 days of the date
<br />of such notice, Lender is authorized to collect and apply the proceeds at Lenders option either to restoration or
<br />repair of the Property or is the sums secured by thisliortgage.
<br />Unless Lender and Harrower otherwise agree in writing, any such application of ~'.aceeds to principal shaC
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