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<br />If under Pgagraliyft 71 hereof the Property .s sold N the ProDerky r3 othnwrsa acquer.d In~y LerxYer, 1_rnoer s'~hait apply. m
<br />later than iear{tad{>Kialy prior a the sate of Else iPraperty ar ,ts as:.at+isitian by Censer, a++y F,~IUPS Y~rw3d by Lender a% foe Eime of
<br />app!}ration as a credit aga)mt the somas secured UY this Margage.
<br />3. l~/ication olF Payf4ents- Uniazs applicable taw pravrdcs atherwist, alt pay~v,~}s rlxaa!aed by i.rsrder under ihr No{a arMtl
<br />Parsgrsphs 1 and Thereof shat! be applied by Lender f nt in payment of amounts payable to Leru~der IFry Borrower under Paragraphh
<br />Z hereof, thin tc iMercst ;payable on the Nrxe, and tfren to the principal of the Notc-
<br />a. Ctiaryes; Liam. Borrower obeli D+Y all taxes, assessments and other charges, fines and imposdians attritxxtable to the
<br />PYO(lerty wh}ch rrT.y atUin a priority Dort this Mortgage, at Lender's option in the manner prtrv+ded order Paragraph 2 ttareof
<br />or tfy Borrower making payrxnt, whin due, directly to {rye payee {t}er+.o(. Borrower shad promp{fy Samish {o Lender sit notices
<br />of amounts due under this Paragraph and, in tt{e event Borrower shalt make payment directly, Borrower snail promptly 4ur»ish
<br />!a Lander reeefpil evidencing such paymerds. Borrower shaft promDUY discturce env lien xhich has priori;). over th}s Mertgag-
<br />provided that the Borrower shall no[ be required to discharge any such lien so long as Borrower strait agree in wrii}rtg
<br />to the payment of the obligation secured by such lien in a manner acceptable to finder, or shalt in gaaO faith canttst
<br />such Ilan by, ar dlfertd enfarrxrMnt of suer ;ten in legal Droceedings which operate to prevent the enforcement a( the
<br />^en or for(eiturc of the Property or any part !hermf.
<br />S. Husrd Imurance. Borrower shall keep the improvements now existing or hereafter erected on the Property irfsured
<br />against loss by Bre, beanie included within the term "extended coverage", and such atlcer hazards as Lender may require and
<br />in such amounts and far such periods as Lender may require; provided that Lender shall not -equire that [he amount o! such
<br />coversge exceed that amount of coverage required to pay the sums secured by ttsis Mortgage.
<br />The insurance carrier providing the insurance shall be chosen by Borrower subject to approval by !.ender; provid~f, that
<br />such approval shall not be unreasonably withheld. All premiums on insurance policies shall be paid by Borrower making pay-
<br />ment, when dim, directly to the insurance rattier.
<br />Aii insurance policies and renewals thereof shaii be in form acceptable to Lender and shall include a standar8 mortgagee clause
<br />in fawr ohand in form acceptable to Lender. Lender shalt have the right to hold the policies and renewals !hermf, and Borrower
<br />shall promptly furnish to Lender all renewal notices, the policies and any renewals thereof and all receipts of paid premiums.
<br />in the ewM of loss, Borrower shall give prompt rx>tice [o the insurance carrier and lender, and Lender may make proof of foss
<br />if rat made promptly by Borrower.
<br />In the even[ of a loss, the amounts collected shall be payable [o the Lender and at tlx; option of the Lender may be used in arty
<br />one or more of the /oliowing ways: (1) applied upon the Indebtedness secured hereby whetter such Indebtedness be matured
<br />or unmatured; (Ij used to fulfill any of the covenants contained herein as the Lender may determine; (31 used to replace or
<br />restore the Property to a condition satisfactory io Lender; or (4) release the same to the Borrower. Such applio[ion of proceeds
<br />to the Indebtedness shell not extend or postpone the due dale of the monthly installments referred to in Paragraph t ftermf tX
<br />thong! the iaaunt of such imtallments. I( under Paragraph 77 hereof the Property is acquired by Lender, all right, title and
<br />intareat of Borrower in and to any +nsuran<e polices and in and to the proceeds Fhereof resulting from damage to the Property
<br />prior to the solo or acquisition ss-au pass tc Lender to the extent of the sum secured by this Mortgage immediateiq prior to such
<br />salt or acquisition.
<br />6. Preservation and Main, r.+ence o! Property. Borrower shall keep the Property in goal repair and shall rat permit or
<br />commit waste, inyairmeret, or detenorauan of the Property and shall comply with any restrictions affecting the Property.
<br />7. Protection of lender's Secunty. if Borrower fails to perform the covenants and agreements contained in this Mortgage, or
<br />if any action or proceeding is wmmenced which materially affects Lender's in!erest in the Property, including but not limited ta,
<br />eminent domain, i verx:y, mksrcement, o rangements or proceedings involving a bankrupt or decedent, then Lender,
<br />at Wrder's optionn upon notice to Borrower, may make such appearances, disburse such sums and take such anon as is
<br />rt¢cessary to protect Lender's interest, including but not limited to, disbursement of reasonable attorney's Fees and entry upon
<br />the Property to make repairs. Any armunts disbursetl by Lender pursuant to this Paragraph 7 with interest thereon shaii becase
<br />additional Indebtedness of Borrower secured by this Mortgage to the extent permitted by applicable law. Unless Borrower artd
<br />Lander agree to other terms of payment, such amounts shall lx payable upon notice from Lender to Borrower requesting paymtrnt
<br />[hermf, and shall bear interest from the date o{ disbursement at the rate of 70$ unless payment of interest at such rate world be
<br />contrary to applicable law, in which event such amounts shall bear interest at the highest rate permissible by applicable law.
<br />Nothing contained in this Paragraph 7 shall require Lender to incur any expense or do arty act hereunder.
<br />J. Inspection. Lender may make or cause to be made reasonable entries upon and inspections of the Property.
<br />9. Condemnation. Borrower agrees that all awards hereto(ore or hereafter made by any public or quasi-public authority to
<br />the present and all subsequent owners of the Properly covered by this Mortgage by virtue of an exercise of the right of eminent
<br />domain by such authority, inchuting any award for a taking of title, possession or right of access to a public way, or for any
<br />change nE grade of streets affecting said Property, are hereby assigned to the Lender; and the Lender at its option is hereby
<br />auttarized, directed arW empowered to collect and receive the proceeds of any such award or awards from the autlorities making
<br />the same and to give proper receipts and acquittances therefore, and may, at the Lender's election, use such pra:eeds in any one
<br />or more of the following ways: (1i apply the same or any part thereof upon the Indebtedness secured hereby, whether such
<br />Indebtedness [hen tx matured or unmatured; (Z) use the same or any part thereof to fuifi ll any of the covenants contained herein
<br />as the Lender may determine; (3) use the same ar any part thereof to replace or restore the Property to a condition satisfxtory
<br />to iha Lender; or (al release the lama to the Borrower; and tte Borrower hereby covenants and agrees to and with the Lender,
<br />upon request by ttu Lender, to Duke, execute, and deliver any and all assignments and other instruments sufficient for the purpose
<br />of assigning all such awards to the Lender free, clear, and discharged of any and ail encumbrances of any kind or nature whalso-
<br />aver. The appiiration of such proceeds to the Indebtedness shall not extend or postpone titre due date of the monthly installments
<br />referredto in Paragraph) hermf ar change the amount of such installments.
<br />j0-. Borrower Not Released. Extension of the time for payment ar rrrodi fication or arrortixaf)on of ttte sums secured 6y this
<br />Mortgage granted 6y Lender to Borrower or to any successor in interest of Borrower shall not operate [a release, in any manner,
<br />the Ita6jiity of the original Borrower and Borrower's successors in interest. Lender shaii rat !x required to commence proceedings
<br />agaimk such s•~cussor, to refuse to or to extend-ftme for pay .ant, or ot)erwise fa modify amomirafion of the SUms seeur`Bd by this
<br />Mortgage by reason of any demand made by ttte original Borrower or Borrower's successors in interest.
<br />11. Forebearance by Lender Not a Waiver. Any /orebearance 6y Lender in exercising any right or remedy hereunder, or
<br />otherwise afforded by applicable law, shaii not tx a waiver of or preclude the exercise of any right or remedy hereunder. The
<br />procurement of insurance or the payment of taxes or other liens or charges 6y Lender shall no[ to a waiver of Lender's right to
<br />accelerate-the maturity of the indebtedness secured by this Mortgage.
<br />11. Remedies Cumulative. All remedies provided in this Mortgage are distinct antl Cumulative to any other right or remedy
<br />under this Mortgage or afforded by law or equity, and may be exercised concurrently, independently, or successively.
<br />13• -Successors and Assigns Bound; Join[ and Several Liability; Captions. The covenants and agreements herein conninrd
<br />shalt bind and the rights hereunder shall inure to the respective successors and assigns of lender and Borrower. Ali covenants
<br />antl agreemaMS of Borrower shall be joint and severe{. The captions and headings of the Psragraphs of this Mortgage are for
<br />cancan}ante only and era no[ to be used to interpret or define the provisims ttereo(. In the event the ownership oP the Property
<br />or any par! thereof-becomes vested in a person other than the Borrower, the Lender may des! with such successor or successors
<br />in interest with reference to this Mortgage and the indebtedness hereby secured in the same manner as with the Borrower withtout
<br />{n any rtunMr vitiating or discharging the Borrower's liability hereunder or upon the Indebtedness hereby secured; ant! in tM
<br />aiterrutkw, at tM option of the Lender, Lender may deciara that the unpaid balance of the Indebtedness is immediately due and
<br />payabitl.- -
<br />/il: -Notice. Any not{x from Lender to Borrower provided for in this Mortgage shall ba by cerlifiW mail to Borrower at the
<br />Property artdresa stated txlow or at such arWrcss as Barrowar may designate io LerMer by certiftad mail to LenWr's address,
<br />except for any rtolip given to Borrower in the manner prcacr{bed 6y applicable law as provided in Paragraph 17 0l this Mortgage,
<br />15. Uniform MOrigage; Gowrnln~law; S_everability. This form of Mortgage combines unibrm covenants for natirtnel use
<br />antl non-uniform coverienls wish Iimjled variations by jurisdiction to rnnstifute a uniform security instrument covering real
<br />property. This Morlgaga shaii be govarnad by the law of the Jurisdiction in which the Properly is located. In the avant that any
<br />prpv)sioo or elattse of this Mortgage or the Note rnn0}cis with appiicabia law, such conflict shall not aHecl other prov)slona of
<br />[his Morltygp or the Note winch can ba g{vert effect without the conllicling provision, and to this end the provisions of this
<br />Mortgage and :the Nuts era Mclared to be severable.
<br />- is-. Borrower's Copy. Borrower shall be furnished a conformed copy of this Mortgage at the time of execution or afar
<br />recordation hermf. s
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