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Home My WebLink About0924 l,'ti~FC~RH Cc~vF~.a~vTS Borrower and l.endrr covenant and agree a~ fe~ll~~~.: 1. Payment of Principal and Interest; Prepayment and I.ute CharRes. Borra~cr tihall rromptl~~ ~a~~ Nhrii ~iur the principal of and interest on the debt e~~idenced by Ihe I~ote and any prepa~ ment and late rharge~ due undrr thr :~~,tr. 2. Funds for Taxes and lnsurance. Subject to applicable law~ or to a written H~ai~ er by l.ender, E3urroH rr tihall ~a~ to Lender on the day monthfy payments are due under the Note, until the Note is paid in full, a sum ("Funds") eyual tu one-twelRh of: (a) yearly taxes and assessments whirh may attain priority o~er this Srcurit)• Instrument; (b) yearly leasehold payments or ground rents on the Property, if any; (c) yearl}~ hazard insurance premiums; and (d) ~~eurly~ mortgage insuranre premiums, if any. These items are called "escroK~ items." Lendcr may estimate 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 w•hich arr insur..1 or guaranteed by a feder~l ur state agency~ (including Lender if Lender is such an institution). Lender shall appl~~ the Funds to ~ay the escm~c itemti. Lender map nat charge for holding and applying the Funds, analyzing the account or verifying the c~cru~~ items, unless Lender pay~s Borrower interc~t on the Funds and applicable law permits Lender to make such a rharge. E3orrower and Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made c~r applicable !aw requires interest to be paid, Lender shall not be required to pay B~~rroN•er an}~ interest or ear~zings un the Funds. l.ender shall give to Borrower, without charge, an annual acrnunting of the Fur.ds showing creditti and debits to the Funds and the purpose for which each debit to the Funds w~as made. The Funds are pledged as additional security for the sums secured b}• this Security Instrument. ' If the amount of the Funds held b~~ Lender, together with the future monthl~~ pa}•ments of Fundti pa~~able prior to the due dates af the escrow items, shall exceed the amount reyuired to pay the eticruw~ items ~ti•hen due, the ezcess shall be. at Borrower's option, either promptly repaid ta Borrower or credited to Borrow•er on monthly pa}~ments of Funds. If the amount of the Funds held by Lender is n~~t sufficient to pa}~ the esrrow items w•hen due, E3urrower tihall pay to Lender an}~ amount necessary to make up the deficiency in one or mare pay~ment, as reyuired b}~ Lender. Upon pa}~ment in full of all sums secured by this Security Instrument, Lender shall promptlp refund to Borrower any Funds held by Lender. If under paragraph 19 the Property is sold or arquired b}• Lender, Lender shall appl~•, no later than immediately prior to the sale of the Property or its acyuisition b}~ Lender, any Funds held b~~ Lender at the time of appliration as a rredit against the sums serured b}~ this Securit~~ Instrument. 3. Application of Pa}•ments. Unless applirable law~ pmvides atherwise, all paymrnts rerei~ed by Lender under ~+aragraphs 1 and 2 shall tx applied: first, ro late charges due under the Note; sc~cond, to prepayment charges due under th~ :`'ute; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to prinripal due. 4. Charges; I.iens. Borrower shall pa}~ all taxes, atisessment~, rharges, hnes and impositic~ns atiributable to the Property which may~ attain priority u~~er this Security Instrumenl, and leasehold pa~~ments or ground rentti, if :~n~~. Horrower shall pa~~ these oblig.~tions in the manner pr~~~ ided in paragraph 2, or if not raid in that manner. Borrower shall pay them on time directl}~ to the ~rson ow~ed ~a~~ment. Borrow~er shall promptl} furnish to Lender all n~ti~es of amounts to be p3id under this paragraph. If Borru~~er make, these pa}~ments dirertl~~. Borrower shall promptl}~ turnish to Lender receipts evidencing the payments. Borrow•er shall promptly discharge any lirn ~?hich ha~ ~riority o~~er this Security Instrument unles~ E3orro~~~er. (a) agrees in writing to the pa}~ment of the obligatiun ~~rured b~~ the lien in a manner acceptable to Lender; (b) rontests in gc~d faith the lien b~~, or defends againtit enforrement ~~f the lien in, legal prekeedings w•hich in the Lender's opinion operate to pre~~ent the enforcement of the lien or forfeiture uf any part ~~f the Property: ur (r) secures from the holder of the lien an agreement satisfaclory ta Lender sutx~rdinating the lien t~ this Serurit~~ Intitrunjent. If I_ender determines that any part of the Yropert}~ is subjert tu a lien w~hirh ma~ attain ~rtorit~ ~~~er thi~ Sccurih Instrument. L.~nder ma}~ gi~r Borrow~er a n~~tice identif~•ing the lien. Hurrc~~~er shall ~atist~} the Gen ~~r take <me ar nu~re ~~f the acti~~n~ ~et f~~rth ab~~~e ~~ithin 10 da~ti ~~t the gi~ ing c~f notice. ~i 5. Hazard Insurance. Borrc?aer shall kerp the im~re~cemrnts n~~~+ exi~ting c~r hereafter erccted ~~n the Yropert~ I insured against lass b}~ firc, harards included within the term "extended r~~~erage" and an~~ other hazards fc~r uhich Lender , reyuires insur~nce. Thiti insurance tihsll be maintaitied in the am~~unt~ and f~~r the prrii~d. that Lender requires. The inturance rarrier prc>~iding the inwranre tihall he rhu~en h~ B~~~rcn~~r ,uhject ti~ L~ndrr's ap~m~al which shall ni~t be unreasonabl}' withheld. G All insuran~e poli~ieti ard renewals ehsll be arre~table t~~ l.ender an~i ~hal1 ~n~ludc a titandard mc~rtgage rlau~e. G Lendrr shall ha~e the right t~ hald the ~olicies and rene~cal~. If Lender reyuirrti, B~~rn»~er ~hall prumptl~ gi~e to Lender ! :~II receipts of paid premiums and renewal ne~tice~. In the e~ent of lu~ti. Bc~rre~w~er sh:~ll ei~e ~r<~mpt notire tc~ the insursncr ~ carrier and Lender. Lender may make prex~f c~f I~~sti ~f nat made promptl~• h} Be~rr~~wrr. ~ Unless Lender and Borrower otherw ise ~grre in w nting, insurance {~rcxeed~ ~hall be ap~liec~ to retitc~ration or repair ~ ~~f the Propert}' damaged, if the resturati~~n or re~air iti econc~m~c~lly feasible atid Lender's securih is not lessened. If the ~ restoration or re}~air is nc~t economicall}~ feasible o~ Lender's tierur~t~ ~c~uld be lessened, the insurance prcxeedti shall be applied tn the sums serured b} this Securit}• Instrument, whether or not then due, with an~~ e~cess paid to Borro~~er. If I3orrow~er abandons the Propert}~, or dces not answrr ~~ithin 30 da}~s a n~tire from Lender that the insurance carrier hati c~ffered to ~ettle a cla~m, then Lender ma}~ collect the insurance prckeeds. Lender ma~~ utie the ~rcxeeds tc~ re~air or restore the Pro~rt}• or to pa~~ sums secured b}• this Securit} In.trument, w~hether <~r not then due. The 30-da}~ pericx~ ~ill ~gin w hen the notice is gi~~en. Unless Lender and Borrow~er otherw•ise agree in w riting, an} applicati~~n ~~f ~roreedti to principal shall n~t extend ~~r ~ost~ne the due date of the monthl~ pa} ments referred t~~ in paragraphti 1 anu 2 c~r change the am~~unt of the pa~~ment~. If under paragraph 19 the Propert} is acquired b}~ Lender, Borruwer's right t~~ an~ insuranre ~olicies and ~r~eeds retiulting from damage t~ the Propert~• prior t~ the acyuisiuon ~hall pass tu Lender to the rxtent ~~f the sums ~ecured h~ !hi; Srrurit~ Instrument immediatel}~ prior to the acquisition. 6. Preservation and titaintenanee of Property; I.easeholds. Hc~rrc~~cer shall n~~t destroy~, damage or ~ubstantiall~ change the Propert}~, allow~ the Property to deteriorate or c<~mmit ~~aste. If thi~ Securih~ Intitrument it ~m a leatinc~~ld. ~ Borrow~er shall compl~~ w~ith the pro~~isions of the ~ease, and if Borru~~er acquires fer title tc~ the Pre~~ert}~, the leasehold snd 'x fee title shall ~at merge unless Lender agrees to the merger in H riting. ~ 7. Protection of Lender's Ri hts in the Pro ert ~Iort a e Insurance. If B<~rre~~er fail~ tc~ erft~rm the ~ B P S': S 8 P co~~enants and agreements contained in this Securit}~ Inctrument, or there is a legal pm~eeding that ma~ .ignifirantl~ affe~t I.ender's rights in the Propert}~ (such as a prcxeeding in bankruptc}~, probate, fc~r rc~ndem7atic~n c~r to entorce law~ ~~r g regulations), then Lender may da and pay for whatever is necessar} t~~ ~rotect the ~alue ~~f tne Yro~ert~~ and Lender'ti rights ' ~ in the Property~. Lender'~ actions may inciude paying an}• sums secured by a lien ahirh has rri~~rih• ~~er thiti Serurity ~ Instrument, ap~earing in court, pa}~ing reasonable attorne}'s' fees and entering on the Pro~rt~ t~ make repairs. Althc,ugh Lender ma}~ take action under ihis paragraph 7, Lender does not have to dc~ sc~. ~ Any~ amounts disbursed b~~ Lender under this paragraph 7 shall become additional deht of Rc~rre~wer tie~ured b~ this - Securit}~ Instrument. Lnless Borrow~er and Lender agree to other terms ~f pa~mec~t, the~e amnunt. ~hall bear intere~t fmm ~ the date of disbursement at the tiote rate and shall be pay~able. with interest, u~~~n n~~ti~e frc~m Lender c~~ B~~rmwrr requeshng pa}~ment. ~ ~ ~54 P~ ,f ~22 ~ ~ ~ ~ _ _ _ ~ ~ ~ ~ ~