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<br /> �``�r�� 10631 �
<br /> L1N1�'Clk M CQVFNANTS Horrower and l.er�dcr co��cnant And ngree a�t'ollows�
<br /> 1. P�ymcet af Principal�nd Interest;Prep��ment and l.Rte Ch�rges. Aorro�rer shall promptly� pay when due
<br /> thc princips!af end interest on the debt cvidenced by the Note and uny prepayment nnd late rharges due undcr the Note.
<br /> �. Hl�nds for T�xa�nd Inaurance. Subject to applicable law or to a written waicer by Leoder,Barrower shal)pay
<br /> to Lender on the day monthly payments are due under the Note. until the Note is paid in full,A sum t"Funds")equal to
<br /> � one-twelRh aP: (a) yearly taxes and assessments K•hich may attain priarity aver this Security ]nstrument; (b) yearly
<br /> lessohald payments or ground rents on the Praperty, if any; (c) yearly hazard insurance premiums; and (d) yearly
<br /> mortg�tge insut�anca ptemiums�iPany.These items are called"aerow items."Lender may estimate the Funds due on the
<br /> basfs af current datA and reASOnablo cstimatrs of future escrow items.
<br /> The Funds shall be held!n an institution the deposits or accaunts of which are insured or guaranteeci by a federat or
<br /> state agency(including Lender if Lende�is sueh an institutian). Lender shall apply the Funds to pay the escrow items.
<br /> Lender may aot charge for holding and applying the Funds,analyting the accaunt or�•erif}ing the escrow items, unless
<br /> I.ender pays Sanawer interest on the Funds and applicable law permits I.cnder to make such a charge. Banower and �
<br /> I.ender may agrce in writing that iaterat ahall be paid on the Funds. Unless an agreement is made or applicable law
<br /> requires interrst to be paid, I,cnder shall not be required to pay Borrower any interest or earnings on the Funds.I.ender
<br /> shall give to Borrower,without charge,an annual accounting of the Funds show7ng credits and debits to the Funds and the
<br /> purpose for which each debit to the Funds was made.The Funds arz pledged as additianal security for the sums secured by
<br /> thls Security Instrument.
<br /> : If the amount oP the Funds held by Lender.together with the future monthly payments af Funds payable prior to
<br /> the due dates of the escrow itettas.shall exceed the amount required to pay the escraw items when due,the eacess shall be,
<br /> at Borrower's option,cither prarr�ptly repaid to Bonower or credited to Bonower on monthly payments Qf Funds. It'the
<br /> amount af the Funds held by Lender is not sutFicient to pay the escraw items when due.Horrower shall pa�to Lender artay
<br /> amount necessary to make up the def�clency in one or more payments�s a�uired by Lender.
<br /> Upon payment in full of all sums securtd by this Security Instr�ument,Lend�r shall prorn�tly ret'und ta Borrower � �
<br /> any Funds held by Lendtr.If under paragraph 19 the Property is sold or acquired by Lender. Lender shaIIl a�ply.no later
<br /> � than im�ediately priar to the sate of thc Property or its ac�quisitian by Lender.any Funds held by Lender at the time oP
<br /> appfication as a credit against tho sums secured by ttiis Security Instrument.
<br /> 3. Appllcat�on of Paqmeats. Unless applicable!aw p*avides otherwise.all payments recei��ed by Lender under
<br /> � paragraphs 1 and 2 shall 6e applied:flr5t,to late charges due under the Note;second.ta prepa�;meat charges due under the
<br /> Note;third,to amounts payable under paragraptt Z;fourth,to interest due;and Iass,to principal due.
<br /> ; 4. .C4�arge�Liens. Borrower shall pay a11 ta�es,assessments,charges,fines and impositions attributable to the
<br /> � Property whicb may attain priority.over this Socurity Instrumeni. and leasehold paymen�s or ground rents, if any.
<br /> � Borrower shall pay these obligations in the manner provided in paragraph 2.or if Rot paid in that manner.Borrower shaU �
<br /> pay them on time directly ta the person owed payment. Borrower shall promptly furnish to Lender all notices of amounu � .
<br /> � to be paid under this paragraph. If Borrower makes these payments directly.Borrower shall promptly furnish to Lender '
<br /> ! receipts evidencing the payments. ! ' _
<br /> � Borrower shali promptly discharge any lien which)has priority over this Security Instrument unless Barrawer:(a) � :�
<br /> - T sar'�..'°f.^.`�s::sng!o t����sn�ssi�Fik.�ls�t�:,z�:,s;r3�y t;c iie�,���n��ittnncr accepiaoie to iender,(b�contests in g000
<br /> fait h the litn by.or defends against enforcement of the lien in,legal proceedings which in the Lender's opinion operate to � =_
<br /> � prevent the rnforcement of the lien�r farfeiture of any part of the Property;or(c)secures from the holder of the lien an �-
<br /> agreement satisfa�tory to Lender subordinating the licn to ihis Security Instrument.if Lender determines that any part of - -
<br /> the Property is subject to a lien wh:ch may attain priarity over this Secutity Instrument. Lender may give Borrower a
<br /> notice identifyring the lien. Barrawer shafl satisfy the lien or take one or more of the actions set forti�above within 10 days
<br /> of the giving of notice. —
<br /> S. Huard losurance. Borrower shall keep the improvements now existing or hereafter erected on the Property —
<br /> � insured against loss by fire,hazards includod within the term"extended coverage"and any other hazards for which Lender
<br /> ; requires insurance. This insurance shall be maintained in the amounts and for the periods that I.ender requires. The
<br /> � insuranct carrier providing the insurance shall be chosen by Borrower subject to Lender's approvaI which shall not be
<br /> : unreasonably withheld.
<br /> i All insurance policies and renewals shall be acceptable to Lender and shall include a standard rrc�rtgage cla�se. ; ° ,
<br /> � Lender shrsl)have the right to hold the policies and renewAls. lf Lender requires.Borrower shall promptly give to Lender
<br /> ; all receipts of paid premiucns and renewal notices.In the event of loss.Borrower shall give prompt notice to the insurance
<br /> carrier and Lender.Lender may make proof of loss if not made prompily by Borrower. �=
<br /> Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be applied to restoration or repair � -
<br /> of the Property damaged. if the restoration or repair is economically feasible and Lender's security is not lessened.If the �
<br /> restoration or repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shall be .
<br /> npplied to the sums secured by this Security tnstrument,whether or not then due.with any excess paid to Borrower. If _.
<br /> $orrower abandons the Property.or does not answer within 30 days a notice from Lender that the insurance carrier has
<br /> offered to settle a cJaim,then I.ender may collect the insurance proceeds.Lender may use the proceeds to repair or restore
<br /> the Property or to pay sums secured by this Security Instrwnent,whether or not then due. The;0-day period will begin
<br /> when tht notice is given.
<br /> . tJniess Lender and Borrowerothen:ise agree io writing,any application of proc:eceis tu principa!sha11 not eatend or
<br /> • postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments.If
<br /> under paragraph 19 the Property is acquired by Lender.Borrower's right to any insurance policies and proceeds resulting
<br /> from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security
<br /> Instrument immediately prior to the acquisition.
<br /> 6. Preservatian and MdnteQa�ce of Property;Leaseholds. Borrower shall not destroy,damage or substantially
<br /> change the Propeny. allow the Property to deteriorate ot commit waste. If this Security lnstrument is on a leasehold.
<br /> Borrower shall ca�rz�s�gr with the provisions u�tEe lease,�d+f Borrow�er acquires fee title to the Property,the leasehold and �--°_—
<br /> fce titlt shall not crer�e unless Lender agrees eo t he meraer in writing. •
<br />- 9. Protectio� ot Lendts's Rights in the Propects�:4lortgage Insurauce. If Borrower fails tc� perform the
<br /> covenar.ts and agreements conta�ned in this Security InsCr�crcaent,or there is a legal proceeding that may significantly affect
<br /> Lender's rights in tte propeny (such as a proceeding in bankruptc}. probate, for condemnation or to enforce 1aWs or
<br /> regulatians),then i.�r�et may do and pay foc whatever is necessary to protect the value of the PrQ�erty and L.ender's rights
<br /> in the Ptoperty. I.er:G�r's actions may iacCuri�.paying any sums secured by a lien w•hich has pnority o.er th�s 5eeurjt3•
<br /> lnstrucC,�rst,appcacietg in court,paying rt:�sr:�a�le atiorrttys'fees and enter�ng on the Property ro make rep��rs.Although
<br /> � LenQcr may take arrion under this paragra��.?.Lender dcxs not have to do so
<br /> Any amourzcs disbursed by I,ender urider th�s paragraph 7 shall become additional debt af�orrower cecured by th�s
<br /> : Secunty Instrume�t.L.'nless Borrower and Lender agree tc+vther terms of p�yment,thece amounts shall hear interest from h�p'
<br /> the date nf disbursemenl at the Note r;�le and shal) be payable, w�th interest. upon nnhce frnrn I_ender tc� B�rroHer ��i�5
<br />, rcqucst�ng payment.
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