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Home My WebLink About0960 Uti1Ft~R~1 Cuvl:~~~ls &~rmNrr and Lendrr ru~rnunt and agrcY a~ fi~lluH~ 1. P~yment of Principal and Interesh Prepayment and I.a2e C'harqes. E3urruHrr tiha!! ~rumrtl~ pay whrn dur the pnnc~pa) of and ~nterest on the debt e~~~denceci b~~ the Note and any prepa~ ment and late rharg~, due under thr N~~tr 2. Funds for Tazes and Insurance. Sub~ect to applicable law or to a wnurn w~aiver by Lender, &~rre~wrr tihall ra~ to Lender on the day monthly payment~ are due under the Note, until the Note is ~aid in tull, a sum ("Fur.d~") eyuat to one-twelfth of: (a) yearly taxes and assessments which may attain priority over this Serurity lnstrument; (b) y~earlp leasehold payments or ground rents on the Property, if any; (r) yearly hazard intiurance premiums; and (d) yearly~ mortgage insurance premiums, if any. These items are called "escrow items." Lender ma~• estimate ihe Funds due on the basis of current data and reasonable estimates of future escrow items. ' The Funds shall be held in an instiwtion the deposits or accounts of w hich are intiur..i or gua~ anteed by a Pederal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to ~ay the c~crow items. Lender may not charge for holding and applying the Funds, analyzing the account o~ verify~ing the escroa~ items, unless Lender pays Borrow~er interest on the Funds and applicable law permits Lender to make such a charge. Borrov?•er and Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law requires interest to be paid, Lender shall not be required to pay Borrower any intrrest or earnings an the Funds. Lender shall give to Borrow~er, without charge, an annual accounting of the Fur.ds showing credits and debits to the Funds and the purpose Cor which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured b}• this Sec:urity Instrument. If the amount of the Funds held by Lender, together with the future monihly pa~•ments of Funds pa}~able prior to the due dates of the escrow items, shall exceed the amount reyuired io pay the escrow• items H~hen due, the excess shall be, at Borrower's option, either promptly repaid to Borrow~er or credited to Borrow•er on monthly pa~~ments of Funds. lf the amount of the Funds held by Lender is not sufficient to pay the esrrow items w~hen due, Borrow•er chall pa~~ to Lender any amount necessary to make up the ~ieficiency in one or more payment: as reyuired b}• Lender. Upon payment in full of all sums secured by this Securiry lnstrument, Lender shall promptly refund to Borro~i~er any Funds held by Lender. If under paragraph 19 the Property is sold or acquired b~~ Lender, Lender shall apply, no [ater than immediately prior to the sale ot the Property or its acquisition by Lender, an}~ Funds held by Lender at the time of application as a credii against the sums secured by this Securit}• Instrument. 3. Application of Yayments. Unless applicable law provides otherw~ise, all pa~~ments rereived b}- Lender under paragraphs 1 and 2 shall be appfied: first, to late charges due under the Note; second, to prepayment charges due under the \ote; third, to amounts Fa}~able under paragraph 2; faurth, to interest due; and last, to principal due. 4. Charges; Liens. Borrow~er shall pa~~ all taxn, assessments, charges, finc~ and impositions attributable ro the Propert~~ whirh may attain priority cner this Security~ Instrument, and leasehald pa~~ments or ground rents, if any. [~orrower shall pay these obligations in the manner pro~•ided in paragraph 2, or if not paid in that manner, E3orrow~er shall pa~~ them on time directly to the t~erson ow~ed pa}~ment. Borrow~er shall promptl~• furnish to Lender all notices of amounts to be paid under this paragraph. If E3orri~w•er makes these payments directl}~. Borrow~er shall pramptly furnish to Lender receipts evidencing the payments. Borrower shall promptl}~ discharge any lien w~hich has priority o~~er this Security Instrument unless Borrow~er: (a) agrees in w•riting to the pa}•ment of the obligati~n secured b}~ the lien in a manner acceptable to Lender, (b) contests in good faith the lien by, or defends against enforcement of the lien in, fegal pr~xeedings w~hich in the Lender's opinian operate to prevent the enforcement of the lien ar forfeiture uf an}~ part of the Propert~: or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Securit}~ Instrument. If Lender determines that any part of the Propert}~ is subject to a lien which ma~~ attain ~riorit}~ o~~er this Sccurit}~ Instrument, Lrnder may gi~e Bormw~er a notice identif}~ing the lien. Borrow~er shall satisf~~ the lien cir take one or more of the artion~ set forth abo~~e within ]0 days of the gi~~ing of notice. 5. Hazard Insuranee. Borruwer shall keep the imprc~~~ement~ nc~~~ eY~sting or herrafter erect~d on the Pro~ert}~ insured against toss b}~ fire, hazards included within the term "extended ro~•er:~ge" and any other hazards for ~~~hich Lender reyuires insurance. This insurance shall be maintained in the 3mounts and fe~r the ~+eriods that Lender reyuires. The insurance carrier pro~iding the insurance shall be chosen b~• Bo~m~~er subjert t~~ Lender's appro~al w~hich shall not be unreaconably withheld. All insurance ~licies and renewals ~hall be acceptablr to Lender ar.d ~hall include a~tandard mortgage clause. ~ Lender shall ha~•e the right to hold the policies and renew~al,. If Lender reyuires. Bormw~er shall promptl} gi~~e to Lender ; all receipts of ~aid premiur„ and renew~al notices. In the event of loss. Bormw~er shsli gi~e prompt notice to the insuranre rurrier and Lender. Lender ma~~ make proof of I~ss if not made promptl~~ b}~ Hezrru~~~er. ' Lnless Lender and Borrower otherw•ise agree ~n writing, insurance ~rcxeeds shall be applied to restoration or repair i :~f the Propert~~ damaged, if the restoration or repair is economicall~~ feasible and Lender's securit}• is not lessened. If the i ~ restoration or repair is not economicall}• feasible or Lender's securit}~ would be lessenrd, the insurance pra:eeds shall be i ~ applied to the sums secured b~' this Securit}~ Insirumeni, w~hether or not then due, with an}• excess paid to Borrow~er. If ~ Borrow•er abandons the Property, or dces not answ~er w~ithin 30 day~s a notice from Lender that the insurance carrier has ! offered to seitle a claim, then Lender ma}• collect the insurance prcxeeds. Lende: ma}~ use the proceeds t~ repair or restore ~ the Property or to pa}~ sums secured b}~ this Security Instrument, w~hether or not then due. The 30-da~~ period w~ill begin ~ w~hen the notice is given. ~ Unless Lender and Borrow~er other~~ise agree in u r~tmg, any applicati~n c,f proceeds to principal shall not extend or postpone the due dare of the monthly pa~~ments referred m in paragraphs 1 and 2 or change the amount of the pa} ments. If ~ under paragraph 19 the Propert}~ is acquired by Lender, Borrou~er's right to any insurance policies and proceeds resulting ~ from damage to the Property prior to the acquiiition ~hall pass to Lender to the extent of the sums secured b}~ this Securit}~ ~ Instrument immediately prior to the acquisition. 6. Preservation and ~iaintenar.ce of Prope~ty; Leaseholds. Borrow•er shall not destroy, damage or substantiall}~ ~ change the Property, allow~ the Property to deteriorate or commit waste. If this Securit}• Instrument is on a leasenold, ~ Borrower shall comply w ith tl~e pro~~isions of the lease, and if Borrow~er acquirer fee title to the Pro~ert~~, the leasehold and fee title shall not merge uniess Lender agrees to the merger in writing. ~ 7. Protection of Lender's Rights in the Property; ~tortgage Insurance. If Borrower fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal prcxeeding that ma} significantl} affect ~ Lender's rights in the Property (such as a proc;eeding in bankruptcy, probate, for condemnation or to enforce la~s or regulations), then Lender may do and pay for whatever is n~cessar}- ro protect the ~ alue of tne Pro~ert}~ and Lender's rights in the Property~. Lender's actions may include paying any sums secured b}~ a lien w~hich has priorit~~ o~er this Security ` [nstrument, appearing in court, pa}~ing reasonable attorneys' fees and entering on the Propert}~ to make repairs. Although ~ Lender may take action under this paragraph 7, Lender does not have to do s~. ~ ~ Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borr<~uer tiecured b~ this ~ Security Instrument. Unless Borrower and Lender agree to other terms of pa~ ment, these amounts shall bear interest from ~ the date of disbursement at the ;~ote rate and shall be pa}~able, w•ith interest, upon n~tice from Lender to B~~rrou•er ~ requesting payment. ~ ~ ~ _ ~ 445 p~~~ 9s~ s ~ ~ . . . - .a,o..~~ tr-~~~~ ,~u~._.,~. a~.:.~.4?~k~.: ur a. ~j;,. ~ ~4