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of order t, i~grr,,}sl, 18 nerc+ah' r,v~> Y'rrr,+rt. it acl h crr• ii~~me~, 1'riirertry~ r.~ rtrrer~io~t•,e „~,°rt~i.3',irc,f i.uv heraiser-. Lemdet.
<br />fuNull ~rpprv, ncx )stet i~~l'~ur.n urutnttrr:iuateV;w' }'~i rra~ ~ 'the,, -,;Ii. rcri tN~;e Yru~}x,,-ut ~rr~ r ti~a,° gui~suci~~rnr i,~y L~s°nrlc•~ urry- f',,anci;~,~
<br />hehi oy _ .des. rir thr• fora. of =.fala re.at~ia:n~ czP a rrtra9rt ,~,.,r:;' tl,,r m rr,,,~, .,,e, z,, r~ri E,yi° ini, ;t~Ic°~rt"rts'tge
<br />3 f€pplication of Payxrents. I7rlrs~ ap} it2.~r,l, l aw~ Iur~:,t ¢ lc ,.atircrsr.rz, swBl p.~rtnrr.:e,t, „ti,,~tiivE,l t r l.aender
<br />am}er kt,e ti'otia .nd },o;ara,rtlyhs 8 Inca l j,er~rf l,,pl' h; o-dlyrlia~,tr~i N,•y I,etr~„Ir r fa F€ iru ara} ntctst, ,et ..inar)v~nt:r q'xl,,ab1e tl.o
<br />Lender by $orrorver under paragraph 2 hereof, then to int€rest payable on the :'tote amt an Future Advances. ii
<br />any, and there to the principal of the tote and to the }irincgral of Future, 3dcances, ii anr•.
<br />4. Charrgas; Lions. $orrower shaII nay all taxes. assessrnenfs anti other charges, fines and impositions attrib-
<br />utable to the Property which may attain a priority over this _\fortgsge, and ground rant=, if any, at L€nder's
<br />option in the manner provided under paragraph 2 hereof or by Borrower making payment. whet. due, directly to
<br />the payee thereof. Borrower shall prornptiy furnish to Lender all notices of amounts riue ander this paragraph,
<br />and in fhe event Borrower shall make payment directly, Harrower shall promptly furnish to Lender receipts evi-
<br />dencing such payments. Borrower shall promptly discharge auy Lien which has priority over title Mortgage; pro-
<br />vided, that Borrower shall not be required to discharge any such lien so long ag Borrower shall agree in writing to
<br />t~ the payment of the obligation secured bey such lien in s moon€r acceptable to Tender, or shall in good faith contest
<br />i°~ such lien by, or defend enforcement of such lieu in, legal proceedings whir,h operate to prevent the enforcement of
<br />the lien or forfeiture of the Property or any part thereof.
<br />S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Prop-
<br />erty ,nsured against loss by fire. hazards included within the Term "extended coverage`, and such other hazards as
<br />Lender may require and in such amomrts and for such periods as Lender ma}• require: pro. ided, that Lender shall
<br />r not require that the amount. o£ such coverage exc€r_d thac, atnowu of coverage required to pay the sums secured'by
<br />~ this Mortgage.
<br />The insurance carrier providing th€ iusurance shalt be chosen by Borrower subject. to approval by Lender;
<br />provided, That such appro~~al shall not be unreasonably withheid.:111 premiums on insurance policies shall be paid
<br />at Lender's option i^the manner provided under paragraph 2 hereof or by Borrower making payment, when due,
<br />directly in 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 an 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 />X111 insurance policies and renewals thereof shalt he i^ form acceptable to Lend€r end shall include a standard
<br />nortgage clause in favor of and ir, form scceptable to Lender. Lender shah have Cite right. to hold the policies and
<br />renewals ih€reof, and Borrower shall promptly furnish to Lender all renewal notices and all r€ceipts of paid pre-
<br />mimns. In the event ot• loss, Harrower shall give prompt notice to the insurance carrier and Lender, and Lender
<br />may make proof of toss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance prnceeds shall he applied to restoration or
<br />repair of the Property damaged, provided such restoration or repair is ecanomicall}• feasible and the security of
<br />this 3ortgage is not thereb}= impaired. If such restoration or repair is not economical)}• feasible or if the securit}•
<br />of this 3lortgsge would be impaired, the insurance proceeds shall be applied to the sums secured by ibis Mortgage,
<br />with the excess, if any, psid to Borre•.ver. If the Property is abandoned by Horrotaer or ii Borrower t"ails to respond
<br />to Lender within 30 days after not.icc by Lender to Borrower that the insurance carrier offers to settle a claim for
<br />insurance benefits, Lender rs 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 b}• this Mortgage.
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shalt
<br />cwt extend or postpone the due date of the monthly installments referred to in paragt•aphs ]and 2 hereof or change
<br />the amount of such installment.
<br />If tinder paragraph lA hereof the Property is scquired by Lender, all right, title and interest of H~?rrawer in
<br />and to any insurance policies and in rmd to cite proceeds thereof tto the ext€nt of the sums secured by this Rtort-
<br />gage immediate]}' prime to such sale ar aequisitionf resulting from damage to the 1'rooarty prior t< the sale or
<br />acquisition shall pass to Lender_
<br />~_ Pr°v°r+r=+4cn ~sd IdTci~staaanca of Propaxty; Lsas,=holds; Condominiums. Narrower shalt keep the Prup-
<br />erty in good report and shall not permit or commit waste, impairmFnt. er deteriara:tiart of the Preaarty and shall
<br />comply with the pror°isiar.s of any lease, if This Mortgage is on a leasehold. If this Mortgage is on a condominium
<br />-unit, Borrower stall lrcriann all of Borrower'; obligations notice the declar;rtion of condominium or master deed,
<br />the try-laws and regulations of the condominium project and roost-ituent doeuntents.
<br />7. Protection of Lender's Security. It Borretver fails to perform the covenants and agreements contained in
<br />this Mortgage, or it am• action or preeeeding is commenced which ntaterialh• affects Lender's interest in the Prop-
<br />erty, including, but not limited to, eminent domain, insoh~enc}•, cexlc cnforrement, w: arrangemenks or pr~ceed-
<br />ings involving a bankntpt or decedent, then Lender at Lender's option, upon notice to Borrow€r, nary make such
<br />appearances; disburse such sums and take such atetion as is necessary to protect. hend€r's interest, including, but
<br />not limtted ta, dishursemenc of reasonable attorney's fees and entn• upon the Property to make r€pairs. Anp
<br />amounts disbursed by Lender pursuant to this patagi•uph i, with interest thereon, shall become additional indebt-
<br />edne:,s of Borrower secured by this ~Sortgage. Unless Borrower and Lender agree to oth€r terms of payment, such
<br />amount:; shall be payable upon nat.ice from Lend€r to Borrower requesting payment thereof, and shall b€ar inter-
<br />est from the date of disbursement at the rate scat€d in the Dote unless ltnym€nt of interest at such rate would he
<br />eont.rary to applicable law, in which event such amounts shall bear int€rest at the highest rate permissible by
<br />spplicatrle taw. ~ofhing contained in this paragraph "shall require lender to incur any expens€ oc do any act
<br />hereunder.
<br />8. Inspection. lender may make m' r•ause to he made reasonable entries upon and inspections of the Frnp-
<br />€rty, pro~•ici€d that Lender shall give Borrow€r notice ln•inr to :un• sorb inspc€fian spe€ifyhtg reasonable e-ause
<br />therefor related to Lender's inter€st in the Fropet•i}*.
<br />9. Condemnation. The proceeds of any award or claim fore damages, die€ct or cons€quential, in connection
<br />with any condemnation ar other taking of the Property, or part thereof, or for conveyance in lieu of candeuuta-
<br />tion, are hereby assigned and shall be paid to Lender.
<br />In the event of a total taking of the Prop€rty, the pros€~is stool) be appli€d to the sums secar€d by this 31ort-
<br />gage, with th€ excess, if any, paid to Borraa•er. In the event of a partial taking of the Property, unless Harrower
<br />and Lender otherwise agree in writing There shall he applied to cite sums securer! by this Mortgage such propor-
<br />tion of the proceeds as is equal to that proportion which the amount of the sums secured by this Bortgage 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 psid to Harrower.
<br />If the Property is abandoned by Borrower or if after notice by Lender to Borrower that the condemnor offers
<br />to mske sn award or settle a claim for damages. Borrower failc_ to respond to Lender within 30 days of the date
<br />of such notice, Lender is authorized to oollect ana apply the proceeds st Lender's option either to restoration or
<br />repair of the Property or to the sums secured by this \Iertgage.
<br />Unless Lender and Borrower othervise agree in writing, any such application of proceeds to principal shall
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