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Home My WebLink About0968 l~~? ~~K~~ C~ t~~~ is fiurrowr~ and L_rndrr ru~enant e~~l agr:~r„luliov?~ I. Payment uf Principal and lnterest; P~epa~ment and l.ate C'hirRes. &~rruwrr .hall prump~l~ ~a~ Nr~~~? au~ thr pnncipal uf and ~nterest on the debt e~ idrnced b}• thr tiote and an~ prepa~ men~ and latr rharge, dur undrr the \~,tr 2. Funds for Taxa and Insurance. Sub~ect tn applicabic lavr ur to a wnltrn v?a~~cr b~ l.ender, E3~~rn~wrr.h:~tl pa~ t~? Lendcr c~n the da~ monthly payments are due undtr ihe tiott, unul the Note ~s paid in full, ~ wm ("Fundti") ryu~l tu une-twrlfth uf~ (a) yearly taxes and astes~ments wh~ch may at~ain pnonty uver thiti Sc~unty In~trument; (b) yrarl~ lea+ehold paymen~~ or ground rents on the Property, if any; (c) ~early hazard imuranre premiumti; and Id) }rarl~ mortgage intiurance premiums, if any. These ~tems are caUed "rscre~w itrm~." Lrnder ma~ rtiumatr the Funds dur on thr basis of current data and reasonable.~umates of fuwre escrow i~rms. The Funds shall be held ~n an institution the deposils or accounts of w~h~ch are ~n~urrei e~r guarantc~J h~ a fc~ieral ~~r state agency (including Lender if l.ender is such an inst~tuUon). Lender shalt apply the Fund~ t~~ pa} the escruw~ i~em~. Lender may not charge for holding and applying the Funds, analyiing the arcount ar ~erif~~~ng the escroK• items, unlesti Lender pays Horrower interest on the Funds and applicable law permits Lender to make su~h a charge. Borrow~er and I Lender may agree in wnting that interest shall be paid on the Funds. iJnless an agreement ~s made ar applicable la~v requires interest to be paid, Lender shall not be required to pay Borrower any interc~t or earn~ng~ on the Fund~. Lender ~hall gi~e to Borrower, w•ithout charge, an annual accounting of the Funds show~ng credits and debit~ ti~ the Funds and the pur~e fo~ w~hich earh debit to the Funds was made. The Funds are pledged as additional se~urity for the sums tic~ured b}~ this Security Instrument. If the amount of the Fun~s held by Lender, together with the future monthi~ pa}~ments of Funds pa~~abl~ pnor ro the due dates of the escrow items, shall exceed the amount required to pay the escrow~ items w~hen due, the ezress tihell tx, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. !f the amount of the Funds held by Lender is not suflicient to pa}• the escrow items w~hen due, Borrower shal! pay to Lender an}~ amount necessary to make up the deficiency in one or more pa}~ments as required by I.ender. U~n payment in full of all sums secured by this Security Instrument, Lender shall ~romptl}~ refund to Horrower an~• Funds held b}• Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lrndcr ,hall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lcnder at the time uf application as a credit against the sums secured by this Security Instrument. 3. Application of Payments. Unless applicable law provide~ otherw~ise, all pa}~ments received by Lender under parag:aphs 1 and 2 shall be applied: first, to late charges due under the Note; serond, to prepayment charg~~ due under the '.~'ote; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due. 4. Charges; Liens. Borrower shall pa~• all taxes, assessments, charges, finc~ and im~sitions attributabtr to the Propertp u•hich may attain priority over this Security Instrument, and leasehold payments or ground rents, if an}~. Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Burrow~er shall pay them on time directlp to the person owed payment. Borrower shall promptly furnish to Lender all notices of amount, ' to be paid under this paragraph. If Borrower makrs these payments directly, Hormwer shall promptly furnish to Lender ~ receipts evidencing the payments. Borrower tihall prom~tly discharge any lien w~hich has priority over this Security Instrument unless Borrow~er. (a) agrees in writing to the payment of the obligation secured b}~ the lien in a manner acceptable to Lender, (b) contests in gczod i faith the lien by, or defends against en~orcement of the lien in, legal proceedings w hich in the Lender'~ opinion operate to prevent the enforcement of the lien or forfeiture of any part of the Property~; or (c) secures from the holder of the lien an I agreement satisfactory to Lender subor~iinati~~g the lien to this Security Instrument. If Lender determines that an~~ part of the Property is subject to a lien which ma}~ attain prionty~ over this Securit}~ Instrument, Lender ma~~ give Borrow~er a notice identif}~ing the lien. Borrower shall satisfy the lien or take one or more of the actic~ns set forth ab~ire within 10 da~~s .~f the giving of notire. 5. Hazard Insurance. Borrow•er shall keep the improvements noa~ existing or hereafter rrerted on the Pro~rt} j insured against loss by fire, hazards included within the term "extended co~~erage" and an~~ other hazards for w~hich I_ender ~ requires insurance. This insurance shall be maintained in the amounts and f~r the periods that Lender reyuire~. The ~ insurance carrier providing the insurance shall be ch~sen by Borrow~er suhject to Lender's appru~al w~hich shall not be unreasonably withheld. All insurance policies and renewals shall be acceptable to Lender and shall inrlud~ a standard mortgage clau,e. Lender shall ha~e the right to hold the policies and renew•als. If Lender requires. Bc~rrow~er shall promptl}• g~~~e t~~ Lender ~ all receipts of paid premiums and renewal notices. In the e~~em of loss. B~rrower shall gi~•e prompt notice to the insurance ~ carrier and Lender. Lender may make proof of loss if not made prompth~ bp Borrow•er. li nless Lender and Borrow•er otherwise agree in w~riting, insurance proceeds shall be applied to restoration or rrpair ; of the Propert~• damaged, if the restoration or repair is economically feasible and Lender's securit~~ is not lessened. If the ~ restoration or repair is not economically feasible or Lender's securit~• w~ould be lessened, the insurance proceeds shall be k ~ applitd to the sums secured b}• this Security~ Instrument, whether ar not then due, with an}~ escess paid to Borrower. [f € B~~rrow•er abandons the Property, or does not answ~er within 30 day~s a nc~tice from Lender that the insurance carrier ha, ~ offereci to settle a claim, then Lender may coliect the insurance proceeds. Lender may use the proceeds to repair or restore ~ § the Property or to pa}• sums secured by 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 Borrower otherw•ise agree in w~riting. an~~ application c~f prcxeeds tu principal shall not extend or post~one the due date of the monthly pa}~ments referred to in paragraphs 1 and 2 or change the amc~~nt of the pa~~menis. If ~ under paragraph 19 the Property is acquired b}• Lender, Borrower's right to an} insurance p<~licies and proceeds resultine from damage to the Property prior to the acquisition shall pass to Lender t~ the extent of the sums secured by~ this Securit} Inst rument immediatel}~ prior to the acquisihon. f 6. Preservation and ~lainte~ance of Property; Leaseholds. Borr~w~er shal) n~t destco}~, damage or,ubstantiall~~ change th~ Property, allow~ the Property to deteriorate or commit w•aste. If this Secur~ty~ lnttrument is on a leasehold, Borro~~er shali comply with the provisions of the lease, and if Borrower acyui:es fee title to the Propert}, the leasehold and fee title shail not merge unless Lender agrees to the merger in writing. 7. Protection of Lender's Rights in the Property; :~iortqage Insurance. If Borrower fail, to ~erfe~rm the co~enants and agreements contained in this Securit}~ Instrument, or there is a legal proceeding that may~ s~gnihcantl} affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, fur condemnation or t~ enforce laws or , regulations), then Lender ma}~ do and pay~ for w°hatever is necessar}~ to protect the ~~alue of the Propert}~ and Le~der's rights ~ in the Propert}~. Lender's actians map include pa}~ing an}~ sums secured by a I~en w•hich has ~riorit}~ over this Securit~ ' Instrument, 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 dces not ha~•e to do s~. i Anr amountc ~isbursed b~~ Lender under th~s Paragraph 7 shall become additional debt of Borrouer serured b} this Securit~• Instrument. L?nless Borrow•er and [.ender agree to other term; of pa~ment, thete amounts shall bear interest from the date of d~sbursement at the tiote rate and ~hall be payable, w•~th interest, u~n notice from Lender tn Borrc~w~er reyuestmg payment. . .~~';K~57 ~~~;f ~f';~ _ _ _ ~ ~.Y: r 2;~ - ~s~'~s~°"~~"~ ~ '"'a'~s ~