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If under paragraph i8 hereof the Propertc is soil or the Property is otherwise acquired b}~ Lender, Lender
<br />shall apply, no later than immediately Prior to the sale of the Propertc or its acquisition by Lender, and- Funds
<br />held by Lender at the time if application s, a credit against the sway secured h} this _l-Iortgagr•.
<br />3. Application of Payments unless applicable law provides otherwise, a]' payment: received by Lender
<br />under the rote and paragraph: I and 2 hereof shall he applied he Leudrr first in paymert of amounts payable to
<br />Lender by Borrower under paragraph ?hereof. then to interest payable on the Vote and on Future Advances, ii
<br />any, and t-hen fo the principal of the Vote and to dta principal of Future Advances, if any.
<br />4. Charges; Liens. $orrower shall Par all taxes, assessments and other charges, fines and impositions sttrib-
<br />arable fo the Property which ma}' attain s priorit}- over this 3forigage, and grouvd rents, ii any, st Lender's
<br />;) option in the manner prowideti under Paragraph 2 hereof or by Borrower malting paymetti, when due, directly to
<br />Ti the payee thereof. Borrower shall prompti~ furuish to Lender al! notices of amounts duo nl:de.r this paragraph,
<br />;~ and in the event Borrower shall make payment directly, Horrower shall pramptl}• furnish to Lender receipts evi-
<br />! deneing such payments. Borrower shall nrontpt]}• discharge any lien which has priority ow•er this Mortgage; pra-
<br />O vided, that Horrow-er shall not be required to discharge anc such lien so long ss Harrower shah agree in writing to
<br />~ the payment of the obligation secured by such list: in a manner acceptable to Lender, or shall in good faith contest
<br />such lien lay, or defend enforcement. of suvlt list; in. legal Pmceedines which ipertte to preweni the enforcement of
<br />- the lien or forfeiture of the Propertc or an}- part titereoi.
<br />SFE RIDII2 5, Hazard Instuance. - .
<br />Tr~~r--. - - - - - .
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<br />The insurance carrier Praviding the insuranc ~ shs'I he chosen br Borrower subiect to approt•sl b}• Lender;
<br />provided, that such sppivvsi shall trot be t:nressarsb?c withheld. All premiums on insumnee policies shall be paid
<br />st Lender', option in the msnuzr pmcidz~i ~..tder ; ~a*agraph _' hereof or by Borrower making payment. when due,
<br />directlc to the insurance carrier-
<br />In the event any policy is not renewed on or before ten days of its e?rpiration, the Lender, to protect
<br />its interest. may procure insurance on the improvements, pay the premiums and such sum shall becorne
<br />immediately due and payable with interest st the rate set forth in said note until paid and shall be
<br />secured by ibis Aiortgage. Failure by Borrawer to comply may, at option of Lender, cottstitute a default
<br />under the terrtns of this \Sortgage.
<br />All in#u s, ,n P:~:~...~ -aLa ~-... .a th..,~- '.•.-.. , - -. ~ht~hl° l.rn,.~, ,..._ „l' ..°I'>dc .;tlaru
<br />tnorrgsge clsusz in favor ii snd in iron acv=°Ptisi~t~• tc. Leader>i.rnder shall •hare tltr right to hold the policies and
<br />reaetcsls thereat, and $orrower shall pmmptic iurnislt ta? Lender all renewal native, ant ail recoipt_ of paid pre-
<br />miums. in #hc scent of ]ate, Bormner siisii E:wz ;+mntpt ni:ivc to thr• insursncv carrier sail bender, snd Lender
<br />tttap make proof ai loss ii not msdz nramptlc i•}• Birrawzr.
<br />lnles; Lender snd Borrower otherwise sgn~ in ;writit;g- _:;sutarve }+tnceeas shall be slrplied to restoration or
<br />repair of the Propertc damsgni, PtnvidCti suci_ rrsu?rstion c+- :zhair s ei•onnmicsilc izasihle snd the security of
<br />tfais \iattgsgr is not thembr intpairea. ii =,.....t~stor.:tint; +~: repair :.::at econotnicsl;y iessibie or ii the security
<br />of this Mortgage would he itnpsired. #nv :..sut5t;ce t+rovez:is ~;.iii i,c spniier, to *,?:z suns secured by this lortgage,
<br />ttt--iitb the excess. ii snr-paid to Borower- ii tht Pro=*znti :: ai,snaonr,i 1,+- Borntw~•- ar ii Barrewer fails to mspond
<br />to Ltr=der within 3Il ,lays situ votire nr Lender ti, Borrower riser the in=t:rsrcr varrier an'rt~ to settle a claim for
<br />insurance benet3ts. Lender as sutharired to rol;ert snd spPh ;hr insunnre proceeds st Lenders aptior. either to
<br />trstarstian ar repair of the Property i^ ti the suns ,reared t,y ti,is \longagc.
<br />Inless I.,ender and $onawer ashen+'*_sz :~m• to writing. any elicit apt,;it•a*,iin ai proceeds to principal snsli
<br />naL mend or posrpone the duz dstz of ?he niirt:,lc ias>..siitnents referred t a in ;+srsgrsplts 1 snd ° hereof or change
<br />the amount of stash installments.
<br />Ii under psrsgr.;ph ]S hereai the ProPzny is acqutmi i,}• Lender.:tii right. title and interest of BotroR•er in
<br />sled to ear invranee policies snd in snd to the lirmeds rl:ereof , to tix• e~trnt ii the sutras :tom>urr~i by this \Iort-
<br />gage immc~listely prior to -vch yelp it s=>qursttion ~ n: uitir.~ in+m ~isvtsge to the Pral>zrt}- prier to thz sale or
<br />srquisititua slash p&a to Lender.
<br />6 Ps~atioa sad Maiatanan~ of Property; Leaseholds; Condominiums. Burrower shall keep the Pmp-
<br />e~• in gaud repair snd shat: pat pe.^mit or commit west=~, impsintaem, ar +izteriirstiatt of the Prope*n• and shall
<br />rt~mply with titz prorisions of any ?ease, ii t2:is llongaee i< on s leasehoi,i. Ii this \Iongsge is an s condominium
<br />unit, $o:t+aR•rr shall periarm all of Borrowzr's abligavans under rite de<isrstian of condominium or master dead,
<br />we ire-lam,; snd regulatitua; of rite candomittiutu }>ivject ant tiinstituen*._ doruments_
<br />9 Peodeetioa d Lender's 3eeuritq. If B'o*nrwer isms to I.erionn the rocznams snd agreements contained in
<br />tftis tiottgage, ar ii any arzion ar proceeding is vamtnettt•zd whirl; tuaterisli}• sn`zcts. Lender's in#erest in the Pmp-
<br />eriy, iraclu3ing, but pat limited to- ztttinent domsu:, insalrenvy, Bade enfarretnem. ar srrangernerts or proceed-
<br />itags involving a ttsttkrupt or d~oeedent, than Lender at Lender's option, upon native to Borrower, may make such
<br />appearances., disburse such sung and take such artian as s neezssary to Pmtect Lenders intetYSt, including, but
<br />nor limited too, disbuta~tnrnt of trasansble attorney's ter- and zntr}- ulxm thi' Property to make repairs. Any
<br />amuuntx disbursed by Lender putsusnt to this p>ara~grsPh ~ , +vith int~r~t therein. shall beeotne sddational indebt-
<br />edsr~ of $nrrawer secut+ed In- this Mongage_ :role;; Born wee and ]n nder agree to athrr repay of payment, such
<br />atnotm#s shal3 tee payable ugwn native rout: Lender to Borrawer guesting payment theretri, snd shall bear inter-
<br />e~ imam the date of disbuasement st ~e rate s*.steti in tae \ote unie.~- payment of interest at such rate would be
<br />t»ntasry tir applicablz law. in Rhich event surlt smaunts shall ttesr interest st rite highest rate perntissible by
<br />apFlit~rle law. ~o.ltino vantsine,i in tl;is I,aragnPh : shall t>~~utre Lender ti incur any e+pense or da an}- act
<br />herauader.
<br />8. Lender eta}• make er rau=z io ia• made rcau~nshlc rntrizs upon and incpertions ai the Prop-
<br />erty, provided that I.rnder still are Borrower n.'r*,ivc ,n-ior to :m}' ,urlt inspect-for, <l,ecit'}'ink trssonahle vausr-
<br />thevefar telatod to Lender's inlets,, in the Pt+olx rtr-
<br />9. Cmdemoatian. The proceeds ai snr award ar claim for dautsges, direct ar consequential, in connection
<br />erith any mtxfemnatioa w other taking of rite Yropc:-tr. at• Pan tl:r*t~o;, or for cou+evanre in li+•u of ron,iemna-
<br />tioa, are laenety assigned and shall l,e paid ?o Lender,
<br />in the event of a total tttkingoi the Properly, rise I>nrveeds s:isli ix• applied ti the sway secures by thin \fon-
<br />gage, frith the ezr,ess, ii any, paid to Borrawer. In the ecru[ of a ;espial taking ii the Prop+=rt} , unless Bnnnwer
<br />and Lennder athertrise agree in wrtt.ing. therz :hall he ahPhcd ti liar sues szc•umd i+p this Mortgage such propor-
<br />tion of the ptxtceeds st i, equa3 w that prolx3nian winch rite amount of the n`unia .rcurzd by tF.is \iort.gagc intrne-
<br />tt=1y prior to the date of taking heat> to tl.e late tnsrket raiue ai tilt Prepeny in,mrdiatzIy prior to the date of
<br />tailing, witty rise balsuee of t.ite l:rroeecds paid to Bontrwer.
<br />If the Prapertg u alraxtdored Ly Borrawer or ii after polite i~t 3.ratuer to Harrower ti,at the cindenmor utters
<br />to make an eased or settle a claim for atuages, Borrower fail- t,,= rey,nu.i to i_endcr z+~tthn, 36 ,lays if the talc
<br />of such twtace, Leader is authorised to rollexa and apPh' the Prar-vt•d, -,: 1.rt,tler'. uPttm, caber ti r,•,torauon ur
<br />repair of the Property or to the yarns serutt'ti ttc ilii` ~iortgagw.
<br />Unless Lender and Borrower otherwise agree in writing: slip sucii spplicstiuu of prtrcce-d_ to Pnnc:pai shall
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