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ii~surctl or ~u~u•i~t~tcc~l I,y l~r~l~~r~~l or ~tt~tc~ ;~Ren~~~• iin~•f~ulin~;- I.~~n~l~~r ii I.e~n~l~~r i; •u~~ii au i~istitutio~il. Lr.~?dcr
shnll npply the I~~~ncis tu ~?r?~' ~ai~l t:ixe:, ur;r.;:~ni~iii~, in:~u~un~~~~ ~rr~~iuiu~n; iu~~l ~;roun~l r~~nh. Lrn~ier ~Iu~II n~i?kc~ n~
rharge foi~so i~ol~li~zE, uncl ~t~?~?l~•in~; i~~c l~ui~~l~ cir ~•c~ri1~'ink ;i~ul ~•~»u~?iliu{; ~,?i~l u~ses•~n~s~t, :uui I?ilis. l;orro~~~ec tlli(j
~ I.~n~icr tna~• .~~r~~~~ in ~vritin~; ut tlu~ linu~ ui c~xc~cution uf tl~is \l~~ri4~iik;c~ tliut intc~rest nu tl?c~ l~~uui• shrtl) I,c~ ~,ai~i tu
l;orri~~~~er, atnd ~tnl~~. ,ucl~ a~;rcciiu~nl i~ mu~lc•, I.~~s~il~~r ~liail not I~~~ ,rc~uir~~l tu ~?a~• l;orru~~•~~r ,u~~~ i~~tc~r~~•t on th~~
_runds. I.cndcr sluil) ~;i~~e to Rorro~~•er, ~~~ithout ~•I~arRc~. :ui ann~i;?I a~~couiitin~; of th~~ Funcls slion~in~; cm~lit• nnd
clel~its to the I~m:dG:?n~i the ~nn•~~osc~ fo~• ~~~hieli ~ii~~li cl~hit to tlie l~un~l~ n~ns made~. '1'I~e F~mcis :~re i~lal~;e:l ns :idcii-
~ tionnl seciirit;y for thc s~nns sccured Ly tl~i~ \lort~,~~;e.
If the ~ii~iotu~t of thc~ Funds held h~• T.cncler, lo~;ethet• ~~~itl~ Ili~• futurc inoi~tlil~• in~t;~llnicnt:: of Fun~is ~~it~~able
~~rior to the duc ~Inte~ oi tnxes, nssessments, insw•iuirr ~~cemium. tu~~t ~;rounci renis, ~liiill e~cec~1 tlie u~noti~zt• re-
quired to pay sttid t:~xes, assesc~»ents, insu?•ni~r.c ~~remium~ ;~nci Ri•ou~ul rent~ as tl~e~~ fnll ~lue, sucli excecs siiall be,
21f R01•ro~~•er:s o~~tion, cither ~~ron~ptl~~ rep~i~! to Rorro~~•cr or rreilitcd to I3orro~~•ei• on n~o~ithl~~ iustnllments oi
Funds. If the ttmount ot the Funds l~eld h~• I.ender shall not. i,c s~ifticic~nt to ~?;~y fl1XC~5, n~sc~~ments, insurnncc ~~rc- ;
miun~s nt~cl grounci reuts a~ the~~ fnll ~luc, Rorro~~•cr sht~11 ~ul~~ to I.ende~~ an~~ nmount nece~nry to ~uake. u~~ thc ~
_ ~leficieucy ~~~ithin thirt~- dnvs ,~itcr notice fro~u I.encier to T3orr~~~•er reqttesting ~~sy~nent tl?ereof. ;
Upon ~~nyment ii~ full of nll sun~s securc~l h~~ thi~ \tortgt?~e. T.endei• shall ~~rom~~tf~• refuncl io l3orro~~~er ain~~
. Fcmds held by I.ender. _ .
. If under ~~~ragrnph lA f~ereof ihe 1'ro~~crt~~ i~ solcl or the 1'ro~~crt~~~ i~ otlicr~~•ise acquired by l.enricr, I.ender
shnll ap~~i~', i~o l~ter thi~n immediatelt~ ~~rior :o th~ ~alr~ of tlu~ 1'ro~?ert~• ~?r its acqi~isition I?~~ Len~ler. :u~}• runcic
lield by I.ender iit tLz~ timc of :ip}~licntien a~ ,i crcciit ;t~;:~in~t tlu• ~uin~ secure~l h~~ thi~ \iortga~c.
3. Application of Payments. Unles~ t?~~plicnhl~ 1n~~• ~n•o~•i~le. otlicr~visq,sll ~~a~~n~e>>t~ reccit•e~t hy Lender
uuder the \ote und ~~:?~•~gr~~?hs I ni~~l 2 I~ercof :;liall I,c ,i~?~?lie~l I,~• I.e~?der fisst in p:t~~ment of amounts paynUle to g
T:ender b}~ Borra~~•er undci• ~?ara~rnpli ~I~e~Y~of, then to intei•r: t ~?;?t~ribl~ on tiie \ote and on I~ttt?t~r. :\ci~~ni~ces, if ' F
- .iny, and then to thc ~~rincipnl of thc :~Totc an~~ ta thc~ ~uiuci~?~l of T~uturc :1~t~•ancc~, if :eny. - i
4. Charges; Iaens. I3orrower shnll ~~:Z~• all taxes, :~sses~~nci~ts ;~ncl othei• chnr~es, fines :~nd iu~positions at~rjb- ~
. t~tnl:ie to the Property ~vhicli ~un,y i~ttnii~ a ~~riorit,y ~n•er this \Iort~~~c, .ind ~;roimct i•ent~, if an}~, r?t Lender's
opt~ion i~~ thc manncr ~~r~~•idecl uniter ~~arngra~~h '2 he~~eaf or I?~~ Rorro~~•er ~nakin~; ~~a~•ment, ~~~hc~~ due, ~lirectly to
- thc p~yee thercoi. Borro~~•er sliall ~uomptl~• im~nish to I.endci• sll »oticcs of aunount~ ~tuc uncler this pnrt~gr~ph, , - ~
;ind i~, tl?e e~•ent I3orrotti~cr shrell ~nnkc p,~~~meirt directl~•, Ro~•ra~~•er sl?ull ~~rom~~tl~• furnis;~ to I.ender recei~~fs evi- -
dencing such p~vments. I3orro~~•er shnil ~~romptly cli~chargc unr lien ~ehich has ~~riorit~• o~•cr this \Iort~nge; pro- ~
vicied, that I3orro~~•cr shall no+. hc requimd to ~li~cliar~;a a»~• ~ucli lien ~o lon~; :~s Rorro~~~er sh~li ngree in ~vrit.in~ to ;
the pnyment of the obligntion secured h~~ suc!? lien in ;i ~un~mer acce~~taUle to 7.ender,-or sh~l1 ii~ good f.sitli contest j
such lien bti~, or clefend enforce~iient of siicl~ lic~i in, le~al ~~roceecfin~~ ~~•hi~l? o~~erate to ~n•e~~ent the enforcement of
_ the lien or iorieiti~rc of thc l'ropc:rt~• or any ~~~rt thereof. ;
~ 5. Hazard Ir~surance. Borro~~•cr ~li~ll kceE~ thc i~u~~i•o~-ement~ no~~• existiu~; or 1?erc~fter crected on thc Pro~~- ~
crt.~• insured ngainst lo~, h~ firc, l~nznrds included ~vithin thc tcrn~ "extended cover~ge", :~nci such other Lazf~rds a~ t
~ I.ender mny requirc :~nd in such amounts and for ~ucl~ ~~crio~l: a~ L~~iuler n~a~• reqi~ire; pro~•idcd. thnt. i,encier shall F
~ not requim tl~at, the amotmt. ol ~uch co~•erz~e exceed tLat a~nouni. of co~•era~e required fo ~~n~~ the sunis seeured by _
. this \Iortg~gc. ~ - - ~
The insurauce carrier ~~roviding tl~e instn~ttnce shall l~c chosr.u h~~ Rorro~~~er subject to approvnl by Lender;
~~rovided, that siicL npproval shnll not be unreasounbl~• ~vithl~etd. ail premiums ~t~ insurnnce policics ~l~r.ll he paid ~
at Lender's option in thc n~anner ~~ro~•ide~i under ~rir:ig~•apl~ 2 hci•eof or I~~~ Rorron•er u~akin~ ~~ayn~ent, ~vhen dite, ~
~iirectly fo tlie insurance carrier. - . -
All insur~nce polieies and re»e~~~al~ tl~creof slr,~ll lfe in Co~•m ac~~~~,tal~le fo i.emler :~ml ~I~all in~•lude a st:inclnrd
: uiortg~ge clau~e in f:~~~or of and iu foriu :icce~~tnLle io Lrueier. I.c~n~ier ~h:?l) l~a~•c ther ri~ht to holci fhe ~~olicie~ :~nd
rene«~nls tliereof, and Borro~ec~ ~h.ill ~~rom~?ti~• furuisl~ to T.en~ler all ~rue~rn( ~iotire.~ and all recei~.ts of p~icl pre-
miums. in t1~e crent of 1oss, I3orron•cr ~li.?11 gi~~c ~?ro~n~~t noticc tu thc insiir~tnce c:~~•rier snd I.encler, nnd I.ender
ma}~ ~unke proof of losc ii ~iot~ njaclc pron~~~th~ h}• I;orro~~•er. -
Unless l.ender nnd Borro~~•er oti~er~~•ise agrec in ~~•riti~i~, i~~~urauce ~,i~occed~ shzil l~e :~~i~~lied to re~torntioT~ or ~
~•epsii• of thc Yropert~- ~ianu~geci, ~~r:,~•ide~l ~ucli restor.ition ~r rc~?air i~ econo~r:i~~a11}• fea~ihlc au~l tlie ~ecurit•~- of
this :~[ortgagc is not• thereb~• iin~~aiir~l. tf siich ~rstor~tiou o~• re~~air i~ ~?ot econ~mic~zih• fea~ible oi• ii thc ,.ecurit~•
of this ~Iortg~~e «~ould he impaired, tl~e insucance ~~roceccis sh:~ll 1~~ ~>>~>liecl co the ~uius secure~i h~~ this \iortgage,
«•ith t.he ercess, if any, pai~l to I3orro~ccr_ If the Yro~~crt.~~ is aban~lonect h~• Borro«•er or if Rorrou•er fails to res~ond
to I.ender ~~-ithin 30 ~lays a[tcr noticc b~• I.ender to 13orro~~•er that ii~e in~i~rai~ce ca.•ricr ot~'c~:: to settic a claim for
_ ins~i~•~nce ~~e~zetits, I.ende?~ is .inthorir.e+i to ~~ollect anci ~i~~~~l~• thc~ in~urau~e ~n•o~ecci~ at i.enzler'~- o~~tion either to ~
restoraticn or repair of the Propert~ or to the suu~s secured h~~ thi~ \Iortgzg~. _ ~
Unless Lender :~nd l3orro«~cr othern•i~c ~grce in ~~•ritiu~;. :iu~• surl? ~~iplic:~tion 01 ~)1'04CC(I5 to principal sl~all - ~
not. extend or postpone tlie duc date o[ thc n~o~itlil~• instailuicuts i•efcrred io in ~~,iragra~~li~ l;uid 2 liereof or chan~e i
the amount of such insfallments. ;
If unrier ~~aragr.l))~l l8 hcrcof tlu~ I'ro~~crt}• i~ :icc{uirc~i I~~- I.ci~cicr, ~ll ri~ht. titlc an~l intcre~t ~~f I3orro~rer in
anri to am• in~urancc: ~~olicie; awl in sn~l t~ tii~~ ~~r~~rce~i~ :h~~r~~of (tr~ flu~ ~•stc~iit ef tl~~~ ~um~ ~c~cin•~~~1 ht- thi~ \fort-
:;age in~mecliatel~~ ~~rioi• to ~ueh ~al~ ~~r ;iec~ui::itio»i re~uifinrr froui ~iam~iee fo thc• Pro~~~~rt~• ~?ri~r tc~ tl?e ~ale or ~
acc~uisition shnll pnc• to Lender. ~
: 6. Prc~servaEion and Main"tenance of Property; Leaseholds; Condominiums. Roe•ro~~•c~• sh~~ll kcc~~ ti~e Pro~f= ~
- erty in good rep~ir and shall not ~~ermit or con~u~it i~•astc, im~~aii•iucnt, or detcrioration of thc Yropert.`~ :ind sl~~ll ~
com~?ly n•ith tl~c pro~•isions of an~- lea~c, if this ~lort~;~gc is oiz lc:~se}iol~l. If thi~ ~fortgagc is on a conclominium -
t~nit, I3or;o~~•er shall ~~erforn~ all of I3orro~~-er'~ obli~ation~ ~»>~ler the ~leclaration of con~lou~iniun~ oi• mastcr deed, ~
~ thc Ly-l:l\?S :111(~ I'C~11~ht1U11S O{ tI1C COp({01111Illllli7 ~)I'OJCG~ c?n:l ~an~titucut ~locuments. ~ .
_ 7. Protection of Lendei s Security. If i3orro~~•er f:~il~ t~? ~~cr[orm tlie corenant~ an~l a{;rcen~ei~ts cont~inec! in =
- ti~is.\iortgage, o~• if an}• action o~ ~~rocecding is com~neneed t~~hich maferiail~• atlects :.ender's interest in the Yrop- t
_ erty, including, bu~ nct limit~~l lo, emineut donuiiu, iusol~•cnc}•, codc enforcement. or arr:~n~;etnents or prcceed- ?
ings ii~~•ol~°ing a bankrupt or dececlent, tl~ez~ J.c?~der at Lender'~ o~~tion. u~~on noticc to Rorroc~~er, mn~' 111A~{@ St1C}t ~
.c~~~~earances, disburse such sums and takc sucl~ :iction ,~s i~ nece~s~trt• to ~~rotect Lender's interest, including. but
r not limite,t to, di~burseu~ent oi reaso~~ablc zttorney`~ iec~ an~l cntr~• u~~on the Yyopert}• to ~nakc repairs. :~ny
' amounts disbt;rsed by I.endcr ~~u~uant to ±his pai.igr~ph-7. ~rith interest thcrcon, shall hecome additio~ial indebf,- #
' edness of t3orro~rer secured- by this \tortgage. iTnlcss I3orroticer an~i I.en~ler agrce to ofiier tern~~ of p~ynicnt, such
amounts ci~all be pny~i~le ~ipon notice irom Lenrler to Rorro~ccr renue:ting ~~nymcnt thereof, fln~l sht~ll bear inter- ~
est from tl~e date of dishursement at tl~e ratc fitated i~i thc 1'otc iu~les~ ~~a}~ment_ of interest at such ratc ~vould b~ ~
co~itrary to r~pi~licable la«~, in ~ti-hich c~•ent siu~l~ :~monnt~ tl,all he~r interest st tlic-higliest rate ~~ern~issible Uy ~
~ aPplieable 13~ti. \'othirg eontainecl in thi~ ~?~ra~;raph 7 sliall rec~uire I,ender to inetn• ant' ex~iense or cio ~n~• ~et ~
hereund~r. ~
~ 80Ui( ~•t.7+~ ~f ~2~-
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