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Home My WebLink About0943 L'`Ii URN Ct)YE:~:~`TS E3i~rrc7wzr and l.ender eo~enat~t and aKre~ a; follo~~ti: 1. Ya~~ment of Principal and Interest; Prepay~ment und l.ate Charges. B~~rruwer ~hall pnm~~tl~ H h~n di~e the pnnripa! of and interrst on the debt evidenred b}• the Note and any prep~y ment ;~nd tate rhargc, due und~r th~ \utr 2. Funds for Taxes and lnsurance. Subject to applicable law or to a written wai~er b~ Lendrr, Barru~~rr.hall ~a} w i.ender un ~ne tisy montieiy pxyments nre due under tne ivote, untii ~i~e ivoie iti paiu in iuii, a~un~ i~ Funu~~~ j eyuai one-twelfth af: (a) yearly taxes and assessments N~hich may attain prioritp o~er this Securit~• lnstrument; ;b) ~~arl~ leasehold payments or ground rents on the Property, if any; (c) ~~early hazard insurance premiums; and (d) ~earl~ mortgage ir~surance premiums, if any. These items are called "escrow~ items." Lender m<i} e~timate the Funds due on the basis of current data and reasonable estimates of future escrow items. The Funds shall be held in an institution the deposits or accounts of whirh arr insurrd or guaranteed b~ a(ederal c~r state agency (including Lender if Lender is such an instiwtion). Lender shall apply the Funds to pay the escroH itemti. Lender may not charge for holding and applying the Funds, analyzing the account or ~~erif}ing the escrow• items, unlesti Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a chdrge. Borrow~er and I ene~er mav aorPe in writino that interPCt chall F~ nairi nn the Funclc [ Inlecc an aareement i~ made or annli~~ahle law requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Lender ~ shall give to Borrow•er, without charge, an annual accounting of the Funds show~ing credits and debits to the Funds and the purpos~ for which each debit to the Funds was made. The Funds are pledged a~ additional security for the sums secured b~ this Security Instrument. If the amount of the Funds held by Lender, together with the future monthly payments of Funds pay~able nrior tc~ the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shall be, at Borrower's option, either promptly~ repaid to 13orrower or credited to Borrower on monthi~~ payments of Funds. If thc amount of the Funds held by Lender is not sufficient to pay the escrow items w~hen due, Borrow~er shall pay to Lender any amount necessary to make up the deficiency in one or more payments as required by Lender. Uoon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply~, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Security Instrument. -3. Application of Payments. Unless applicable law provides otherwise, ail payments received b}• Lender under paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under the Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due. 4. Charges; Liens. Borrower shal! pay all taxes, assessments, charges, fines and impositions attributabl~ !o the Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall ~ pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender I receipts evidencing the payments. ~ ' Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower. (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, (b) contests in good ~ faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Len~er's opinion operate ro , prevent the enforcement of the lien or forfeiture of an}• part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of ~ the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give BorroK•er a ; notice identifying the lien. Borrower shall satisfy the lien or take one or more oi the actians set forth abo~•e within 10 days ; of the giving of notice. ; 5. Hazard Insurance. Borrow~er shall keep the improvements now existing or hereafter erected on the Propert}~ ~ insured against loss by fire, hazards included within the term "extende~ coverage" and any other hazards for which Lender ~ requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance earrier providing the insurance shall be chosen by Bonower subject to Lender's approval which shall not be unreasonably withheld. i~ii insurance poiicies and renewais snaii be accepiaoie to Lender and shaii inciuue a~[anuer~i ~~?~~rignge ciausr. Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall ~romptly~ give to Lender all receipts of paid premiums and renewal notices. In the even[ of loss, Borrower shall give prompt notice to the insurance carrier and Lender_ Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in w•riting, insurance proceeds shall be applied to restoration or repair j of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the ~ restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall bc: ~ applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If ~ Borrower abandens the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has ~ offered to settle a claim, then Lender m3y :ollect the insurance proceeds. Lender may use the proceeds to repair or restore - the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day period w~ill begin r when the notice is given. ~ Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or = Qostpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If F under paragraph 19 the Property is acquired b}~ Lender, $orrower's right to an}~ insurance policies and proceeds resulting from damage to the Property priar to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acquisition. ~ 6. Preservation and Maintenance of Property; Leasehol~s. Borrow~er shall not destro~~, damage or substantiall~~ ~ change the Property, allow the Propeny to deteriorate or commit waste. If this Security Instrument is on a leasehold. ~ Borrow•er shall comply with the provisions of'the lease, and if Borrow•er acquires fee title to the Yropert}•, the leasehald and fee title shall not merge unless Lender agrees to the merger in w~riting. 7. Protection of Lender's Rights in the Property; 1lortgage Insurance. If Borrow~er fails to perform the co~~enants and agreements contained in this Security Instrument, or there is a legal pr~eedine that ma}~ significartl~~ affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for candemnation or to enforce law~s or regulations), then Lender may do and pay for whatever is necessary to protect the ~~alue of the Propert~~ and Lender's rightti in the Property. Lender's actions may include paying any sums secured by~ a lien which has priority~ o~er this Security~ Instrument, appearing in court, paying reasonable attorne}~s' fees and entering on the Property~ to make repairs. Althoueh Lender may take action under this paragraph 7, Lender does not ha~~e to do so. - Any amounts disbursed by Lender under this paragraph 7 shali bec~me additional debt of Borrow~er secured b~~ this Securit}~ Instrument. Unless Borrower and Lender agree to other terms of pa~~ment, these amounts shal! bear intere~t from ~ the date of disbursement at the '~ote rate and shall be pay~ble, w~ith interest, upcm notice fmm Lender t<~ Burr~~wer requesting payment. g~~K 443 9 _ s.~ . _ . _