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of r.i~ttder l,tarr~~rgraph 18 he~~re~of the. ~lrrop~,u=try n~a ealc'~ oa rcite; I'~rot+e~,rrty i ~~~ttl~trc°-r:viir tsrirluired E,rs? I~e,~rtcter. I~~ertdt:r
<br />=hall aa]Itpny~ no ia~ter ti~~ian intn~¢ed',iau~a_ prnrsr tu) t9~~u:• sa~[c. of t}YC I"rap~eaty- i r v., ~~at~rcquisifiora, l~r+, L,t'~nr{cr ..ut_. 1'tar,rclt:,
<br />!;odd bt l.ctin~sr.wt. tttc• k5mc of taplyliterto;, -kis~~ -~ crwUclit as~;airts~i thc• wui< :u•c~:;t•r}. V'ar tlrx- 1~f,',rrt.gags^.
<br />3. f4trpuaatian of Payments. 1 n}a~~~,~ ,t,l~al,lin'.u.I,le 'tae- q,~,ro~•t~le.~ trt~t:ersvp ~-, ,:rill ptvrnt'~uwt.- tcrzeivq~€1 ~ '#,~erode~r
<br />ustder the f ore and rraragrapts 1. rtnd > hea~t~;lof a}ua$1 brt appl'~iet~l ir~.> Leender first in bray u~r .xtt of .,oa~t,cn:rn±~,~~ ;rdty,.aLlt~• to
<br />Lender° lty Bar•rcwer uruder psr•agrapdt ~ lts~~s'eat, filuen tla interest l~rnya?~ae an tore Nate^ an,~l an 'R~~rrturc- Adv,rnr•e~, if
<br />say, and then to the l;rineipal of rho Note and to the principal of Future Advartees. if anv.
<br />4. Charges; Liens. Bortawer shall pay all taxes, assessments anei other charges, fines and impasiiions attrib-
<br />utable to the Property which rnav attain a lriority over this 1lartgage, and ground rents, if ar-y, at Lender
<br />opticn in the mariner provided under paragraph 2 hereof or by Harrower making payment., when due, directly to
<br />the payee tliereof. Borrower shall promptly furrisit to Lender all notices of amounts due under this paragraph,
<br />and in the event Borrower shall make payment directly. Bm•rower shall promptly runtish to Lender receipts evi-
<br />~'~ denoing such payments. Borrower shall promptly discharge any lien +vhieh has priority over 8his Mortgage; pro-
<br />~ vided, that Borrower shall pat be required to discharge any such lien so long as Borrower shall agree in writing to
<br />the payment of fhe obligation secured by such lien in a manner acceptable to Lender. or =hall in good faith contest
<br />'°,`, such lien by, or defend enforcement. of such lien in, legal proceedings which operate to prevent the enforcement of
<br />rho lien or forfeiture of the Property m• any- hart thereof.
<br />5. I3azarr7 Insruance. Borrower' si.all keep the improvements na+v existing or hereafter erected on the Prop-
<br />j erty insured against loss by fire, hazards included within the term '`extended coverage'', anei such other hazards as
<br />~ Lender may require and in such ampoule and for such periods as Lender may require; provided. f'irs't Louder shall
<br />, not require that the amount of such coverage exceed that amount. of coaerage required to pay the sums secured'by
<br />this ,Mortgage.
<br />`T'he insurance carrier ; roviding the insurance shall be chosen by Borrower subject to approval by Lender;
<br />provided, that such approval shall not be unreasonably withheld. All premiums on insurance policies shat! be paid
<br />at Lender's option in t.hc manner provided ender paragraph 3 hereof or Try Harrower making payment, when due,
<br />directly to the insurance carrier.
<br />In the event dry policy is not renewed on or before ten days of its expiration, the Lender, to praiect
<br />its interest, may procure insurance on the improvements, pay the premiums and such sum shat' 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 :+fortgage. 1*aiture by Borrower to comply may, at option of Lender, constitute a default
<br />under the ternt~ of this Mortgage.
<br />.411 insurance policies and renewals thereof shall be in form acceptable to Lender and shall include a standard
<br />morteaee clause is favor of and in form acceptable zo Lender. Lender shall have the right to bald 6he policies and
<br />renewals Thereof, and Borro+ser shall prompth fttrnish to Lender ail renewal notices and all receipts of paid pre-
<br />miums. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender, and 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 to restoration or
<br />repair of the Property damaged, provided such restoration or repair is eccaomicslly feasible and the security of
<br />this Mortgage is pat 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 hortgage,
<br />with the excess, if any, uaid to Borrower. If the Property is abandoned by Borrower or if Borrower fails to respond
<br />to Lender +within 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 insut.•ance proceeds at. bender's option either to
<br />restoration er repair of the Property or to the sums secured by this Mortgage.
<br />Unless Lender and Horrcwer 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 or change
<br />the amount of such installments.
<br />If under paragraph IS hereof the Property is acquired by Lender, all right, title and interest of Borrower in
<br />and to spy insurance policies and in and to t.ite proceeds thereof Ito the extent of the sums secured by this itfort-
<br />gage imrnediatety prior to such sale or acquisitioni resulting fram damage to the Property prior to the sale or
<br />acgillsrtran sltali pace to Lentter.
<br />8. Presertration and Maintenance of Property; Leaseholds; Condoaniniaams, Latra+ver shall keep the Prop-
<br />erty in good repair and shall not permit or commit waste, impairment, or deterioration of the Property and shall
<br />comply ;with the lrrovisions of any tease, if this Mortgage is on a ieasehoid. if this Mortgage is on a candaminium
<br />unit, Harrower shall perinr i, all of Borraw-sr's obligations under the deeiaration of conclorninium ar master deed,
<br />the by-laws and regulations of the condominium project and constituent documents.
<br />3. Protection of Lender's 5ecuriYy. If Borrower faits to perform the covenants and agreements contained in
<br />this Mortgage, or if any action or praeeeding is emr.menced which materially affects bender's interest in the Prop-
<br />erty, including, but not limited to. eminent domain, insolvency, code enforcement, or arrangements or proceed-
<br />ings involving a bankrupt ar decedent, then Lender at Tender's option, upon notice to Borrower, may make such
<br />appearances, disburse such sums and take such notion as is necessary to protect Lender's interest, including, but
<br />not limited ter, disbursement of reasonable attorney's fees and entry upon the Property to make repairs. Any
<br />amounts c#isbursed br bender pursuant to this paragraph i ,with interest thereon, shall treeame additions[ indebt-
<br />educes of Harrower secured by this .lortgage. Unless Borrower and Lender agree to other terms of payment, stte}t
<br />amounts shall be payable upon nonce from Lender to Horro+wer requesting payment thereof, and shall bear inter-
<br />est fram the date of distaurseruent at the rate stated in the Note unless payment of interest at such rate would be
<br />contrary to applicable law, in which event such amounts shall bear interest at the highest rate permissible by
<br />applicable law. ~iothiug contained in this paragraph r shall require Lendet• to incur any expense or do any set
<br />hereunder,
<br />6. Inspection. Lender may make or cause to he made reasonable entries upon anti inspections of the Prop-
<br />erty, l,ry=i dud that Lender r}tali give Harrower noticr, l+riar to in}- su,~lt iristroet.ian specifying reasnnahia cause
<br />therefor related io Lender`s intetw,st in the Property.
<br />9. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection
<br />with any condemnation or other taking of Ehe Property, or part thereot•, ar for couveyanee in lieu of condemna-
<br />tion, are hereby assigned and shall be paid to Lender.
<br />In the event of a total taking ot• the Property, the proceeds shall be applied to the soars secured by this Mort-
<br />gage; evith the excess, if any, paid W Bor*aw•er. 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 awns secured by this Mortgage such propor-
<br />tion of the proceeds as is equal to that p aportion 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 rho condemnor offers
<br />to make era award or settle a ciairta for damages, Borrower Tails to respond to Lender within 30 days of the date
<br />of such notice, Lender is authorised to collect anti apply the proceeds at Lender's option either to restoration ar
<br />repair of the Property or to the sums scoured by this Mortgage,
<br />Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal shall
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