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Home My WebLink About0940 i. , t'~IF~?k~t C~ t.~.a~ 1~ 13~~rr.~W~r antl I.endrr rc?~enanl at?.1 a~;rrr Ii~I1~~H. 1. Payment of Yrincipal ~nd Interest; Nrepay~ment And I.ate ('hrrges. B~~rm~rr .hall ~n~m~~il~ ~~h,•n ~Iu. thr ~nnc~~~al ~~f and intrre~t on the deb~ rvidrnreci h~~ the tiote and an~~ prrra~ mrnt ~nd late rhar~r. ~fur un.lrr thr \~~tr 2. Funds for Taxes and Insurance. Sub~ect t~~ apphrahle lav? ~~r a N ntten w anrr M• Lrn~irr, t3~~rr~~~~ rr .h:~ll ~~a~ to Lender un thr da}~ munihl}~ payment~ are due undrr the Note, until the Nute ~a~d in full. :i .um f"I~und."1 ryual t~~ one-tw~elRh of: (a) yearly taxes ard assc~timents whi~h may~ atta~n pn~rity o~er thi, Se~urity In~trumcn~: Ih? }rarl~ leasehoid payments or ground rent~ on ihe Prupeny, ~f any; (c) ~~earl~• hazard imuran~r prrmium~; and Id) ~rarl~ mortgage insurance premiums, if any. Thc~se item~ are called "ekrow items." l_ender ma}~ e.timate thr Fund~ dur ~m thr basis of current data and rea~onable estimatc~ of i'uture escruw itemti. • The Funds shall br held in an institution the de~sits or accounts of w•hich are intiurrd or guaranteed h~ a feder;~l ~~r state agency (inclu~ing Lender if Lender is such an institution). Lender shall appl~ the Funds te~ ~a} the e~cre~~~ itrm~. Lender may not charge for holding and applying the Funds, analyzing the account or ~erit~y~ng the etirru~~ itrm~, unlc~~ Lender pays Bo~rower interest on the Funds and applicable law• permits Lender to makr such a charge. Bormwer and Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable la~~ reyuirc~ interest to be paid, Lender shall not be required to pa~~ Borrower any interest or earning~ on the Funds. Lender shall give to Borrow~er, without charge, an annual accounting of the Fur.ds show ing credits and dehitti t~~ thr E w~dt and the purpose for which each debit to the Funds was made. The Funds are pledgrd :~ti additianal ~ecurit}• t~~~r the.um. ~rrurrd b~ this Security (nstrument. If the amount of the Funds helci by Lender, together with the future monthl}~ pa~~mentti of Fund~ ~a~able prior t<~ the due dates of the escrow items, shall exceed the amount required ro pa~~ the esrro~s i[emti ~~hen due, the exress.h~+ll tk:, at IIorrower's option, either promptly repaid to Borrower or creclited to BorroHer on monthl~• pa~~ments of Fundti. If the amount of the Funds hzld by Lender is not sufficient to pay~ the escrow items w•hen due, Borrower ~hall p.i} to Len~ler an~ amount necessary to make up the deficiencp in one or more payments ds required b~~ Lender. UFwn payment in full of all sums seti:ured by this Securit}' lnstrument, Lender shall promptl~ refund to Borre~w•er any Funds held by Lender. If under paragraph 19 the Property is sold or acyuired b~~ t.ender, Lender shall appl,~, nu latrr than immediately prior to the sale of the Property or its acquisition b}~ Lender, any Funds held b} l.ender at the time ~~f appliration as a credit against the sums sec:ured by this Security Instrument. 3. Application of Payments. Unless applicable law provides otherw~ise, all payments recei~•ed b}~ l.~nder under paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; sc~cond, to prepa}~ment rh~rges due under the Note; third, to amounts pa}•able under paragraph 2; fourth, to interc~t due; and last, to principal due. 4. Charges; Liens. Borrow•er shall pay a11 taxes, assessments, charges, fines and im~x~sitionti attributablc tc~ the Propert}~ w~hich may attain priorit}~ over this Security Instrument, and leasehold payments or ground rentti, if an`. Borrow~er shall pay these abligations in the manner provided in paragraph 2, or if not paid in that manner, Borro~ver shall pay them on time directly~ to ihe person owed payment. Borrower shall promptlp furnish to l.ender all na.ices of amount~ to be paid under this paragraph. I( Bor~ow~er makc~ these paymrnts directly. Borrow~er shall promptl~• furnish to 1_ender receipts evidencing the payments. E3orrow~er shall promptl~• discharge an}~ lien which has priority o~~er this Sec urit~~ lnstrument unless E3orrow~er. (a) agrec~ in w~riting to the payment of the obligation secured by the lien in a manner acceptable to Lender, (b) contestti in good ~ faith the lien by~, or defends against enforcement of the lien in, tegal proceedings ti•hich in the Lender's opinion operate to prevent the enforcement af the lien or forfeiwre of any part of the Property; or (c) secures from the holder ot~ the lirn an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Len~~er determines that an~~ part of ~ the Propert}~ is subject to a tien which may attain priority o~~er this Securit}~ Instrument, Lender ma}~ gi~r f3orrow•er a notice identifying the lien. Borrower shall satisfy~ the lien ~r take one or more of the artionti set fc~rt~ atx~~e ~~ithin 10 da}s i ~f the giving of notice. I 5. Hazard Insurance. Borruu•er shall keep the im~ro~ements noa existing ur hereafter ererted an the Pm~ert~ insured against loss by fire, hazards included within the term "extended co~•crage" and an~~ other huzards for w hirh Lender ~ requires insurance. This insurance shall be maintained an the amounts and for the {~eriods that Lender requirr,. The ; insurance carrier providing the insurance shal! be chose~ by~ Ba~row~er subject to C.ender's sp~ro~al ~~~hich shali n~~t he ' ~ unreasonabl}' w~ithheld. ! All insurance policies and renew~als tihaU be acceptable to Lender and shall inrlude a~t:~n~ard mc~rtgage cl3u,e. ~ Lender shall have the right to hold the ~licies and renewals. If Lender reyuires. Bc~rm~~~er shali ~romptl}~ gi~e to Lender all receipts of paid premiums and renewal notices. In the e~~ent of loss, Borroa•er shall ~i~•e ~rompt notice to the i~surarice ~ carrier and Lender. Lender may make preof of loss if not made promptly b}~ Borrow~er. tJnless Lender and Borrower otherw~ise agree in writing, insurance proceeds sh~lf ~ applied to restoration or repair ~ of the Propert}~ damaged, if the restoration or repair is economically feasible and Lender's securt}- is not le~sened. If the ~ restc~ratian or repair is not economicall~~ feasible or Lender's securit~• would be lessened, the insuranre proc:eeds shall be € appli~d to the sums secured by this Security Instrument, wheiher or not ihen due, Hith an}~ ez~ess paid to Borrower. If ~ Borro~~~er abandons the Property, or does not answer w~ithin 30 da}~s a notice from Lender that the insurance rarrier has ~ offered to settle a claim, then Lender ma}• collect the insurance prc~ceeds. Lender ma}~ use the prc~ceeds to repair or restc~re the Pruperty or to pay sums secured b~~ this Security Instrument, w~hether or not then due. The 30-day~ perioci ~~ili beein ~ when the notice is given. ~ Unless l.en~er and Borrower otherwise agree in writing, an}~ application of prcxeeds to princi~al shall not extend c~r post~ne the due date of the monthly pa~~ments referred to in ~aragraphs 1 and 2 or change the am~~unt of the ~a} ment~ lf ~ under paragraph 19 the Property is acquired by Lender, Borrower's right to an}' insurance ~olicies and pr~~reeds rr`ulting ~ frum damage ro the Property prior to the acquisition shall pass to Ler.der t~ the extent <~f the sums serured b} this Securit~~ ~ Instrument immediatel~~ prior to the acquisition. ~ 6. Preservation and ~iaintenance of Pr~pert~~; Leaseholds. Borrc~wer shall not ~e~trc~~, damage or suhtitantiall~ ~ change the Property, atlow• the Propc:rty t~~ deteriorate or commit waste. If thi~ Securit}~ Instrument i~ ~~n a lea.~hc~ld. ~ Borrc~w~er shall compl}• aith tlie ~+ro~~isions of the lease, and if Borrow~er acquirrs fee title t~ the Yrc~~ert~. the lea~ehold and ~ fee title shall not merge unless Lender agrees ta the merger in w~riiing. ~ 7. Protection of I,ender's Rights in the Propert}~; ~tortRage Insurance. If I3urru~cer fail~ tu perform the co~enants and agrerments c~~ntained in this Securih~ In;trument, or there i~ a legal proceed~ng that ma~ signific.intl~ afl~ect Lender's rights in the Propert}~ (such as a proceeding in bankrupte}', probate, for condemnation or t~ enfor~e law, or ~ regulations), then Lender ma~• d~ and pay~ for whate~er is necessar~• to ~rotect the ~ alue of the Pro~c:ri}• and Lender'> right~ 3 in the Propert}•. Lender's actions ma~~ include pa}~ing an}' sums secured by ~ lien ahirh has priorih~ t~~er thit Securit~~ ~ Instrument. ~ppearing in court, pa}~ing reasonable attorne}~s' fees and entering on the Yroperh• to rnake re~a~rs. Althc~ugh ~ Lender may~ take artion under thi~ paragra~h 7, Lender does not hs~e to do so. ~ An}- amc~unts disbursed b} Lender under this paragraph 7 sha11 t~cc~me additional deht of Borrotier ~ecured b~ this ~ SecuritJ Instrument. Unless B~rrc~wer and 1_ender ~gree to c~ther termti ~f pa~ ment, these am~unt. shall be~r inter~st from ihe date c~f dithurtiemrnt at the \ute rate and ~hall be pa}able. ~~ith interetii. u~~~n ne~hre fr~~rn Lender t~~ B~~rmµer . reyue~ting pa} meni. a ~ z a . . g~445 P~;~ 9~0 'd-. - ~-=r=~ ~.~;~,~.~?~~:;.=.,~,a ~';-c~;.~'~.~'Srn~•;s- ~ ~ w~