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Home My WebLink About0952 ~ i...~~ j ~t 1 UNIF~ORM COVEtv~NTS Borrower and l,ender wvenant and agra as follows: 1. P~yateat of Prlnclpl and latenst; Preoay~Neut aad l.~te G3ar~es. Borrower shall promptly psy when due th~ pnncipal of and interat on the debt evidenced by the Note and any prepayment and late charga due under the Note. 2. Fr~ds tcr ?axa ud I~wruce. Subject to appficabk law or to a written waivcr by Lender, Borrower shal! pay tu Lender' on tht day monthly payments ue due under the Notq until the Note is paid in fuil, a sum ("Funds") eqwl to one-twdith of: (i) yarly uxa and assasmenu which may attain priority over this Secuncy Instrument; (b) yeuly la~sehold payments or ~round rrnts on the Property, if any; (c) yeuly hazard insunnoe premiums; and (d) yearly mortgage insurancx premiuma, if any. Tbpe items an called "~scrow icems." t.ender may atimate the Funds due on the ba:is of current data and rrasonable atimata of futur+e e~crow~ etems. 'I~e Funds ihsll be held in an iratitution the deposiu or accounts of which are inwrcd or guaranteed by a fedenl or ~ute agency (including L,ender it La~er it such an institution). Lmder shall apply the Funds to pay the acrow items. La~der may not charge for holding aad applying the Funds. analyzing the account or verifying chc acrow items, unlas La~der pays Botrower interat on the Funds and applicable liw permits I.tnder to make such a chsrae. Borrorver and Lrnder may agree in w~riting that interat shNl be paid on tbe Funds. Unlas an aaroanent is made or applicabk law~ roquira interat to be paid. I.ender shall not be required to pay Borrower any interest or earninas on the Funds. La~der shall givc to Borrower, w+ithout charge, an annwl aocounting of tbe Funds showing credia and debits to the Funds and the purpose for which each debit to tf~e Funds ~ras made. Tht Fundt an pladgod ts additiona! sccurity for the sums secured by this Sccurity Instr~meat. If the amount of the Funds held by Lender. together writti the futurc monthly payments of Funds payabk prior to the due dates of the acrow itcros. ahall accxed the unount required to pay the cserow items wrhrn due. the excas st?all be, at Borrowa's option, either promptly repaid to Borrower or crodited to Borrower on monthly p~syments of Funds. It the unount of the Funds hetd by Lender is not sufCicient to pay the acrow items when due. Bo~rower shall p~y to Lrnder any amount necessary to make up the d~iciency in one or more ptymrnts u required by Lender. ~ Upon psyment in full of aU sums secured by this Security Instruma~t, Lenda shall promptly refund to Bono.ver any Funds hdd by Lenda. If under paragnph 19 the Froperty is foW or acquired by Lenda. Lrnder t}WI apply, no later than immediately prior to the sale ot the Property or iu acquisition by Lrnda, any Funds beld by Lender at the time of application as a credit against the sums securod by this Security Inawment. 3. ANpliation ot Payweats. Unless applicabk la~v provides otherwise, all payments rooeived by Lendcr ur?der paragnphs 1 and 2 shall be applied: 6rst, to late charges due under tbe Note; sooond, to pnQayment charga due under the Notr, third, to amounts psyable under paragraph 2; fourth, to interat due; and Lst, to principal due. 4. Cbargex Lizat, Borrower shall pz; all tues. sssexsments, charga, fines and impcuiaons attributable to the Propaty which may uuin priarity over this Security Instrumeat, snd lasehold payments or gmund renu, if any. Borrower shal! pay these obligations in the manner pmvidod in paragnph 2. or if not paid in that manner, Bornower shsll psy than on time directiy to th~ person ow~d payme~t_ Bomower shall promptly furnish to l.tnder all noticxs of amounts to be paid under this paragraph. If Borrower makes thae paymrnts dirxtly, Bonower shsll promptiy furnish to Lender ra:tipts evidencing the paymenu. . Borrawer shall promptly discharge any lien which has priority over this Security Instrumrnt unlas Horrower: (a) agroes in ariting to the paymrnt of the obligation secured by the lirn in a manner aooepuble to I.endu; (b) contests in good faith the iien by, or defends against enforcement of the lirn in, kgal proceadings w~hich in the L.ender's opinion optnte to prevmt thc enfaroanent of the lier: or forfeiture of any part of the Property; or (c) secures from the ~older of the lien an agreemrnt satisfactory to Lender subordinating the Grn to this Socurity lnstrumrnt. If Lrnder determina that any part of the Pmperty u subjcct to a lien ahich may attain priority ovtr this Security Instrummt, Lender rmy give Borrower a notice idrntifyir?g the liai. Borrower shall satisfy the tien or take one or mon of the sctions set forih above within 10 days of the giving of notice. S. Hat~rd Iasvrance, Borrower shall lceep the impmvemrnts now existing or hereafter trected on the Property insurod against loss by fire, hazards included within the term "eatend~d coveragc" and any other hazards for which Lcndcr requirrs insurance. This insurance shaU be maintainod in the amounts and for the periods that Lrndcr requires. The insurance camer providing the insursnce shall be chosrn by Borrower subject to Lender's approval which shall not be unreasonably withheld. " All insurance policia and renewals shall be srctptable to Lender and shall include a standard mortgage clause. L,ender shall have th~ right to hold the policies and rrnewals. If Lender reyuira. Bonower shall promptly give to I,ender all raxipts of paid premiums snd rrnewal noticas. In the event of loss. Horrower shal! give prompt notiee to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower othmvise agree in writing. insurance procxds shall be applied to restomtion or rcpair of the Property damaged, if the ratoration or repair is ecm~omically feasibk and Lrnder's security is not lasened. If ihe restoration or rtpair is not oconomically feasible or Lender's security would be la.srned, ihe insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not thrn due, with any excess paid co Borrower. If Borrower abandons thc Property, or does not answer within 30 days a notia ftom Lendtr that the insurance carrier has ofr'ered to settle a claim, then Lender may collect the insuru?ce proceeds. Ler.der may use the proca~ds to repair or ratore the Property or to pay sums secured by this Security Instrument, whether or not thrn due. The 30-day period will begin whrn the eoticx is givrn. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extmd or postpone the due datc of the monthly paymrnts referred to in paragraphs 1 and 2 or change the amount of the paymrnts. If under paragnph 19 the Property is acquirod by Lender. Borrower's right to any ins~ranoe policia and procoeds raulting from damage to the Froperty prior to the sequisition shall pass to Lcnder to the extent of the sums secured by this Security Instrument immaiiately prior to the uquisition. 6. Presenation and Maiateeance oi Property; I~ea:eholds, Borrower shall not datroy, damage or substantially change the Property, allow the Property to deteriorate or commit waste. it this Security Instrument is on a leauhold, Borrower shall comply with the provisions of the tease. and if Borrower acquira fee title to tho Property, the leasehold and fer title shall not merge unlrss Lrndor agrea to the mtrger in writing. 7. Pmtectioa of Leader's Rights in the Pwperty; Mortgage Insarance. If Borrower fails to perform the covenants and agretments contained in this Security Instrument, or there is a legal proceeding that may significantiy affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws ar regulations), then Lender may do and pay for whatever is nscessary to protect the value of the Property and Ler.der's rights in the Property. Lender's actions may include paying any sums secured by a lien which has pr.onty ov~r this Secunty Instrument, appearing in court, paying reasonable attorneys' fea and entenng on the Property to make rtpairs. Although Lender may take action under this paragraph 7. I,ender does not have to do so. Any amounts disburud by I.ender under this paragraph 7 sha11 become additional debt of Borrower secured by this Security Instrument. Unless Borrower and l.ender agree to other terms of payment, thesc amounts shall bear intcrest from the date of disbursement at the Note rate and shall be payable, with ~nterest, upon natice from Lender to Borrower requesting payment. . ~ , ~ ~ - , ~0~~455 P~~E 95~ s - _ _ . _ " _ _ _ . ,.+W' _ '4-'4. - ~:3'+ ~i~ • ys _ _ - ` {+sp