|
II under paragraph 1S h°reof the Property is sold cn~ the Property a othertcisc acquired ba Lender. Lender
<br />shall apply, no later than immediately prior to rite sale of the Propcr[j- or its acquisition by Lender. anv Ponds
<br />held by Lender st the time of application ss a credit against the aunts securer! hs this ~iorian~e-.
<br />~- Application o£ Payments. i~niass ai',pLcahk• laaa- provides other.rise, all paj'ments reccised 6}- Lender
<br />under the :Vote sad paragraphs 1 sad 2 hereof shall he applied br Lender Hrst iu paj-nunt of amount; payable to
<br />Lender by Borrower un:ier paragraph ° hereof. then to interest pa}able on the \rote ana on Future Advances, if
<br />snj•, and then to khe principal ~i the \aie and to [he prince}cr.l of Future .advances, ii any-.
<br />4. Cheagas: ISeas. Borrower Mall nay all taxes, assessments and oilier charges. Yires anti itn}%ositiors attrib-
<br />utable fo the Property a°hici; uiaF attain a priority- Deer tLis ~.Iorigage• and ground rents, ii nnc. st Lender's
<br />option in the msnner provided under pantgra;,h L' i~creo€ or i,} Borrower tuskinn payment, e•hen due directly to
<br />1 ~ the psyze ihemof. Bormuer snail nrompt;c iurnisls =- Lender ail notices of amounts due under this paragraph,
<br />{~ and in the event Borrower shall make ps}•ntcnt directiv. Borrower snail pmmpt!c furnish to Lender receipts evi-
<br />1 denting such payment.. $en-ower vita?; pmn:pth• discharge ant iien which has priories- Deer this Mortgage; pm-
<br />;~ vided, thai $arross•er shall act be rzquired to +iischar~c an}• sue, lice. so long as Borrower =hall agree in writing to
<br />o; the payment o£ the obiigsfian securer': by such lien i•::, v;anner aeceptshie to I.encier, or shah iu good faith contest
<br />suelt iien by, or defend enforcement of such lien in, ]cgs; proccedingc +shich o;+erare to present the enforcement. of
<br />¢ the lien or forfeiture of the Property or and- ;,art ,i:creo;.
<br />~* 4. $azrtrtl Iasuronce. Borros;-er st.:ail 'see;. t.,+ ,.tram-contents row exisnng er eereafter erected on rite Prap-
<br />t~ ertc insured against low by Rye, hsaards included +vititit: the teen "extended coverage", and such other hassrds as
<br />Lender rtsr require and in such amorists c.nd for sue=. clods ss Lender mad- require: urarided. ti:at Lender spoil
<br />noL require that the acnourt of such coserage cxce~'<i t....t amaun[ of coverage re,Iuire<i to nay the gums secured'by
<br />this \Iartgage.
<br />The iasursrce carrier i}roriding rite insuranc" ~It i?e :•hwer: ]n Bermwer subiect to api±myai bj• Lender;
<br />prorided, that such apprevai shall not be unreasonably withheld- .~;. premiums on insurance palicies shall be paid
<br />st Lender's option in tl:z msnner proyideci u,t,ier ; ~rsph ° ].erot er in- Harrower making usyarent. when due,
<br />direetlr to the instuance carrier.
<br />In the evert any pokey is not renewed on or before ten days of its expiration, the Lender, to protect
<br />its interest. mac pract:re insurance on the impmc•zments, pay the premiums aad such sum shall become
<br />im.tnzdiately due and pa}-able with interest at the rate set forth in said note until paid and .hall bs
<br />secured br chi, Mortgage. Failure b}- Barroscer to comply ma}•, at option of Lender, constitute a default
<br />trader fhe Terms of this Riortnage.
<br />.ill insurance polkiz_ and renewal= thercrf ri:aii i=e in form acecptahie to tetteer sm? shall in: lisle a scan ]anI
<br />tuongage ciasa in fas-or of and ir, fa^u asee},tai;e to Lender. Lender sitsl] base tern right to hold [its policies ~.
<br />rznewsis :hereof, and Sarmwer n?a'.i 1>routr,tis Tarnish to Lender a':i renewal notices and all receipts of paid '
<br />miums. In the Brent of ;ass, Borrower :i.aL' _is c aro.^.:pt ncaice ti rite :,.:.:rar,ce carver anti Lender. and Lender
<br />mar make t;roef of lass ii rof made promptly ;»- Borrower. -
<br />Ira;ess Lzndzr:~^d Borrawes oti;zrwisz a•~ree ir. ss'ritit;~. i.:_ursrcc. t,mcee~is si:all oe spp:tea: to restoratior. ar
<br />rrrair' e, ihz Prol,zrj• damaged. rroyided =. •': re=*.oratie;< o° rel;a a.c,notauc:,i]c _e:ii'? ;,.... the eeeurity- ai
<br />this 3fottgage is rot thereby i.upsired. if ..-uch restc_..io..... apai* is .. _ ccor. ...ically .~~si61e or the security
<br />o£th~_ltnn.gsgewould'ee;_n:^aired...;e _ rsna ,,roce~.,. -. sh ,.- ar•~+4:.a. ,,.r st:n:s sure.; :,~- this :lortgage.
<br />~citli tine esreas, ii sac. paid to $orrewer. '_ -the Yni}=ertti ~< s::sn+iotted by $ormw_r or it Borrower fails to respond
<br />to Lender n:ihin vii days after no*.ire h _.~nder to $ornnrer that the uuursree :aerie; o:Yt.-s to = .t:e a ~isim far
<br />ine-uranez henefru, Lender ;= authorised to celiac*_ a;i ap}'c the insurance }=;tuezus at Lender's+optior. etcher to
<br />t-e3tora*kan ar repai.* of tftz Property or to the sums secured i»- dais \iattgs5i.
<br />1?nlea. Lender ant $O_*niner o;hzrnise agree i,, tarittng. airs sue': appiua*.teu +; }emceed; to lutncipsi .hall
<br />teat emend or postpone the due rite ni t'ne ~uorthiy in;cal:meats :eferr-.i to it: ?arsgrsc,!:s } st:d '? hereof ar change
<br />t2te anc+unt ai such instaiintznts-
<br />If under paragraph 1S hzreef the Propzrti is scautr';i I.~' I.erder.:;,. r,gi:t, title and interest of Borrower in
<br />szh: [e any tm~arance palicies ant to an,. te, *.he 1,r•;.:=~:s -!:errii eo ti,r exte..t ,i the <unts seeurzri oc chi: \lart-
<br />gage an:n,edsatxh• prior :o :uch :.ate .. _ -t,:s:t,rr, re.~:t:~,•: ;*on: iatr•iCe t.? t:.,~ Pro}?cry ;~r:: - to the :ale or
<br />acquisitaa shall ,--:ss tc Lender.
<br />5. Frsservatioa ~ Maintsaouce a'_ Pzaperty; i.eeseholds: Coa3aminiuass. B<,rrccaer shalt seen the Pmmp-
<br />eiY}- in rE,iair a:~d v-1' -•a* . .__.. _: :.n:a:;:: ax ;ate.:.;=a<^::en;.: :fete*ia.stioti of t•ne P:vner[r and shalt
<br />ecsmal}• with t1:- prsi~-iors o- - ~easr .. ti:i, ?.ior:gszc ::... ;.sseiro=i If this iianga~e is an s candaminiuua
<br />,.:;., 4:~.^^~€_ ail Sri.., ~_ 3?`, r $a.._, _.._ _. _ _ a r.+' -,'-, .. ._ o+ t: dnr?tnt;;m .,. :ttaster deed,
<br />tae t,y-laws sad rzgtua..o.. of c t,:,..- .: _: _.... ~ ,.--.it_~... it::sv~.-...
<br />7. YIO3eCtiou of l.aadez`s Security` ~ -era- z ... ..- ~ a..:. s .a. e:a .t- „t.;i ng`c-rnrent. Bea'. ain~ in
<br />€ais ~Isri~gage, ar ii a2tr actit~ or taros'ri~ag Y~ con?n:e•t:at-a uhir.'-. ~asteri3:ia stfc~t., Ir,•nder~s interest in rte Pray_
<br />arty, v.cludmg, r,t. 'tmi±~: ia. - r,t. t:.s - ._, a t -e•:.., .t ,. :, rrangrr..+~rt_ or prncezd-
<br />i~ invnisvg a~bsnsru~t ar neced~•nt. -. L:*.nt. , :,t`..a.. t, .~,. ~i.}....+. ,:e ., Berron-er. ,:sy mal=e svcit
<br />appea3sn~, disburse ssel; suss sad rase e .-...aetio;: s - .,t. ssaar+~ :+ -v^au~ct 's~en:fer = ,nterx~t, including. nut
<br />rt~t liaitg3 ti,. dLLbttr_K+mect r,; rea;oaat„r >tee^;>y ~ _ra- .=r:~ ~ntr~ ,4i,,?r: ;-,.~ Proper=_: to make reaairs..any
<br />smaunta disburszd br I.~ aver } ~s:rat :o t:,s . as-s a;,:: ; . •a;t%, :nit•r~;: -.here:=r:. s}::ill i,t•rome s+ldinnnai indeht-
<br />ednea3of $ar.aa'zr szr-,±r~, b€` .. ,... _ n~cc. t sir ?sor~~ane a ..:-t•r °r ::pre='o. Jit.rr iem.s u t?sjmrni, alleh
<br />..errs ux°~?? hr aa3~bt ur.tn .,~..... ..-. I,:,....... $c. .war . ;..--~ .->-t-.ant _._reai. at:d shall tzar inser-
<br />zst ftvra ;i,e -date of disbur.rm.n, s .,:e 3......tz+. ,..he \c,c ,.:,c:.` y} tee.:t ~ .::tterest si sueli rata would be
<br />coatlars^ to apri:;saSe sx. ;r< Ssh;ch e+'en; ~,:i: ~...a,tn,< .!,sir :,es: it::eresl st t.-,c i_ighest rate permissible by
<br />sppliaahie law. lothirt rand-,e=? v. ..._ ,~.aragrap:; _.:.:.. st:r;.:r, Let:der to :near any expetz~ or do any set
<br />hateurder.
<br />fi. Faspeerian. Lzndzr tnsa• [aa'si or ~ au-z to i,, erta~c :Basta; i,i;• Barnes °: --n an,t iu=pzetian=_ c,' the Prop-
<br />ezty, ptarided €hst Leader =hail give Borrower nc,t,,; ;,r,o..,. .,,,r -..,..:r.-lzeccien -,•ecif:•ing rc-asonsble cause
<br />them£o- related to Lender': inferrer is €hz Prc}wm-.
<br />9. Coademn~. The praeeads ~-~ s- a-an-: o- :taint inr rlan:gc.:. direct :,r carse+jvestial. in ۥonnection
<br />with an} eanticmnat:en or other tal-.iag of the Yes}yrs. sr par tJarrc'<?i- o. for conveyance. in !Ten of condetnna..
<br />brut, are hereby assigned -and :~ali •t,e paid to i.en7er.
<br />in the Brent of a tail tkking of the P-ot3e^c, ti:e ;,~eeed->],sli ?,c app[i<•d to the sum, -ecumri ?,~ this Mort..
<br />gage, with the excess. ii any, paid to Borer,:+rr. lr. tl•,e teen[ of :, l,artial tsl:ing of the Prol,trty. ut,lers Borrower
<br />and Lewder oittea~t'iez agree in writing, 'here s1;:il1 be rip;>lieti to the ,mx[s ,ecured by this \torigage such pro}iar-
<br />tian of tltz proceeds as is equal to that pmportior+ wi,irh ai:e anxevnt of rite sums secured by this Mortgage imme-
<br />diaiely prior to lire dale of tasting t,esr to thz lair ±rv;rs-et value of the. Properta- immediately prior to the ,.rate of
<br />taking, wi~i Lha ~uiianet a£ the prutee.:s pain w $a; ~;aer.
<br />I£ the tProper#.y is abandoned by $orroazr or ii ::free notice },~ I,c-n<Ier to Borrower that the cundau;nor offers
<br />€a make an award ar settle a claim Tar dstnagzs. Borrower Tail 'a re=non] to Lender witiiit, 30 dajs of the date
<br />a£ such notaee, Lender is suihorixed to ealler*, and appll• the prort~^d= at Leader': option either to reaoration or
<br />repair of the Property or to the auras seeur~l by t his _liartgaee.
<br />Unless Leader and Borrower othertv:sz agree in wr?fing, any anti: application of procezds to prinripst shall
<br />
|