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If under paragrapF; 13 leeretaf ^hr; Proi+t,rty ti 3,l. ~.~° r«!u'~ f'rnt~er~: i~ ,?t}~u! rc.t o.:=• }~ iret7 },*v L•,r'ider. l.endar
<br />ir:tts apply, no later khan iE':?mra'.iiatr:l±,r trnr',,r xo?',hE: _.t!',c~ c+l r~i,«:~ F'u•r?j~E.r. ~r i,t:',M i!~ r.u~;itl,ion ;,v° €.i:.~r'+.¢•r ,inv I'un<i~,
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<br />r,C~aa by Lsn,ter at tt:r nne~rr of eGpj31'~ur°:;tiou 't:. a grPi r arv~sivust ni~+ p,cm:e <<~in~M,f i i iy7a AGo r^a!~c
<br />~ 3 Application ref Payments Utah : ,l~itcah ;ass tAai w? lr,~.s r* r, ai i~,r. :V }a,x•tt t t' :ra~K,: ri , ~• Lende>.
<br />ai~ nndcr ti!e ;ti ore and 1?,~ra{,',tapLs 3 rrtrl 12 1!tmr r. -,lettl 1-«~ ap}=htti !!y L..=uh r tts,,q',~ tr n:e •rnc rx ri ants+u~:t?tt pa}=able to
<br />~~ Lender by 13arrower:mrler~,l'raragraph1~ 9qr trpf rhrt. trrirflket(s~tp;t~yatrlr• m! t~l~u, `sots r,tn~! uu; ~`t=1'~ttsn fir;>ance-, it
<br />~~ atv'Y, and then to ths, pain t}?wall of r9;e~, '?gate ttno to the g~trir;~r_p~'6 of Ftuture ="1e~9u~at,te..sf :inv.
<br />'~' 4. Ch~ges; Liens. Borrower shall pay al! tare=, assessments and other charges, Yires and impasaio:,e attrib-
<br />utahie to the Properly ss•hieh may attain a priority,over this Mortgage, at;d ground rents, if env, a= Lender's
<br />C [ ~ option in the mamter provided ur:der paragraph 2 hereof or by Borrower making payment, when due; directly to
<br />the payee thereof. Borrower shall promptly furnish *.o Lender all notices of amounts due tinder this paragraph,
<br />and in the event Borrower shaft make payment directly, Borrower shall promptly iurnish to Lender receipts evi-
<br />deneing such payments. Borrower shall promptly tliseharge any lien which has priority over this ~tortga¢e; pro-
<br />m vided, that Borrower shall not be required to discharge any such lien so tong as Borrower shall agree in writing to
<br />6~ the payment of the obligation secured by such lien in a manner acceptable to Lender, or shall in good faith contest
<br />such lien by, or defend enforcement of such lien in, legal proceedings wlticit operate to prevent the enforcement. of
<br />::~ the lien or forfeiture of the Property or any part thereof.
<br />8 5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Prop-
<br />erty insured against. loss by Sre, hazarde included svithir, the term "extended coverage". and such other hazards as
<br />1 Lender may require and ;n such amounts null for such periods as Lender may require: provided, that lender shall
<br />~ ~ not require tl?at the anrount of such coverage exceer,i titer amount of coverage required to par the sums secured'by
<br />this ~Iot•tgage.
<br />The insurance carrier providing the insurante .:hall be chosen be Borrower subject to approval by Lender:
<br />provided, that such approval sitali not. be unreasunat,l}- withheld. all premiums on insurance }?olicies shalt be paid
<br />at Lender's option in tae manner provided under p:rrs~raph 'l ]recent or by Bnrrouer waking payment, when due,
<br />directly to the insurance carrier.
<br />In the event any policy is not renewed on or before ten daps of its expiration, the Lender, to protect
<br />its interest, may procure insurance on the imgrovements, 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 terns of this Mortgage.
<br />X11 insurance policies and renewals thereof shall he in form acceptable to Lender and shall inclade a standard
<br />mortgage clause to iavur of anti ir, lorm acceptat,lc to lender. lender shall have the right to hold the policies and
<br />renewals thereof, :tad Borrower shall promptly furnish *_o Lentier all renewal notices and all receipts of paid pre-
<br />miums. In the event of loss, Borrower shat! give prompt uoticc to the insurance carrier and Lender, and Lender
<br />may make proof of loss if not made promptly b}~ Borrower.
<br />Unless Let;der and Borrower otherwise agree in writing, insurance proceeds shall 6e applied to restoration or
<br />repair ni the Property damaged; provided such restoration or repair is ecoromicall}- feasible and the security of
<br />This Mortgage is not thereby impaired. If such restoration or repair is not economi.^ally feasible or if the security
<br />t?f this 1ortgage wnuld be impaired, the insurance pt•oceetis shall be appiiec to the sums secured b_r• this ;1longage,
<br />with the excess, if any, paid to Borrower. If the Property is abandoned by Borrower or iC Borrower fails to respond
<br />to Lender within 30 days after notice by bender to Borrower that the insurance carrier offers to settle a claim for
<br />insurance berefiis; Lender is authorized to collect and apply thr insurance proceeds at Lender's option either io
<br />restoration or repair of the Properly or i-o cbe stuns secured br 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 reterred to in paragraphs I and 2 hereof or change
<br />the amount of such installments.
<br />If under haragra~h 18 hereof the Property is acquired by Lender, all right, title and interest of Borrower in
<br />and to any insurance policies and in anti to the proceeds thereof tto the extent of the sums secured be this Ivtort-
<br />,gage imarediateh• prior to such sale m• acquisition) resulting from damage to the Property prior to the sale or
<br />acquisition shall pass to Lender.
<br />6. Preservation stud Maintenance of Property: Leaseholds; Gandpminfums. Borrower shall keep the Prop-
<br />rimy in g=and repair and shall act. permit or con?mil e•aste, in:pairtnert, or deterioratiot. of thF_ Property and shall'
<br />~uotngty with the provisions oI any lease, it this liurtgage is on a leasehold. If "this Mortgage is nit a condomini e~
<br />;unit, Borrower shall perform all of Borrower's obligations under tht: deeiarst.ion of condominium or master deed,
<br />"the by-laces and regulations of the condominium pre}ect and constituent documents.
<br />7. Protection of Lenders Security. If Borrower fain to perfortu the covenants and agreements contained in
<br />this Mortgage, or it any action or proceeding is commenced schich materiatlly affects Lender's interest in the Prop-
<br />erty, including, but not limited to, eminent domain, insoh•ency, undo enforcement, or arrangements or proceed-
<br />ings involving a bankrupt or decedent, then bender at l.enticr's option, upon notice to Burrower, may make such
<br />appearances, disburse such sums and take such action as is nece~ary to prote^t• Lender's interest, including, but
<br />not limited t.o, disbursement of reasonable attorney's ices and entry upon tht• Yrnperty to make regairs.:1n}•
<br />amounts disbursed by Lender pursuant to this paragraph i, wiih inieresi thereon, shalt become additional indebt,
<br />edness of Borrower secured by this Mortgage. Unless Borresver and lender agree to other tern'ts of payment, such
<br />amounts she!! he payable upon notice from Lender to Borrower requesting payment. t-hereof, and shalt bear inter-
<br />est from the date of disbursement at. the race stated in the :Vote unless payment of interest at such rate would he
<br />contrary to applicable taw, in which event -such amounts shalt i?etu• interest st the highest rate permissiitlc by
<br />apglicable law. ~otlting contained in this laragraph 7 shall require I.axier to incur any expense or do any act
<br />hereunder.
<br />$. Inspection. Lender may make or cause tc he made reasonable curries ui?oa and inspections of the Prop-
<br />, erty, provided ihat Lender shall give Borrower notir•c prior to easy su,~h inspection specifying reasonable cause
<br />therefor related to Lander'. interest in the Property.
<br />J. Condemnation. The groceeds of any award or claim for damages, direct nr consequential, in connection
<br />with any r•undemnation or other taking of the Property, or I?art thereof. or for ronveytutce i^ lieu of r-0ndenma-
<br />tion, are hereby assigned and shall be paid to Lender.
<br />In the. event of a total taking of the I'rogerty, the proceeds shall he applied to the sums secured by this ytort-
<br />gage, with the excess, if any, paid to Borrower, In the Uvent of a partial tssking of the Property, unless Borrower
<br />and Lender otherwise agree in writing, there shall be applieri to the sums secured tiv this iiiortgagr; such prop~r-
<br />' tiot4,of the.proceeds as is equal to that proportion which the amount of the sums secured by this biongagc imme-
<br />• diatelyprior to the date of taking beac•s to the fair market. value of the Properly immediately prior to the date of
<br />taking, with the balance of the proceeds paid to Borrower.
<br />~f the Property is abandoned by Borrower or if after notice by Lender to Borrower that the condemnor offers
<br />to make an award or settle a claim for ctatnages, Borrower fails to respond to Lender within 30 days of the date
<br />of such notice, Lender is authorized to collect aoct apply the proceeds at Lender's option either to restoration ar
<br />repair of the Progeny or to the sums seo»red by this Mortgage.
<br />Unless Lender raid Borrower otherwise-agree in writing, any such application of proceeds to principal si;all
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