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Home My WebLink About0943 . ; Un tFOR!~t CovEN~NZS. Borrower and Lender covenant and agree as follows. , 1. Payment ot Prtacipal and Interest; Prepaymeat and Lte Chuges. Borrower shall promptly pay when due th~ ~rincipal ~f an3 inter~st an the debt evidtnctd by thr Note and any prepayment and late charges due under the Note. - 2. Fuads for Tsxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrow~er shail pay to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds") equal to one-twelRh of: (a) yearly taxes and assessments which may attain priority over this Security Instrument; (b) yearly leasehold payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly mortgage insurance premiums, if any. These items are called "escrow items." Lender 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 which are insured or guaranteed by a federal or state agency (including Lender if L.ender is such an institution). Lender shall appiy the Funds to pay the escrow items. L.ender may not charge for_holding and applying the Funds, analyzing the account or ~erifying the escrow items, unless Lender pays Borrower intercst on the Funds and applicable law permits Lender to make such a charge. Borrower 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, [,ender shall not be required to pay Borcower any interest or earnings on the Funds. Lender 3 shall give to Borcower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the ~ purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by this Security Instrument. ~ If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to the due dates of the escrow items, shall ex~eed the amount required to pay the es~;row items when due, the excess shall be, ~ . r~' 'J. -J D.. ..~{.1. o~c nFG~~ni1c 1Ff~tv J N..~ ac tsorrower's upi~un, CIUIC~ P[UlilvUy (C~HlIU lV !rill1UWC1 VI a.icviiGU iv awCiv:~:,: ` amount of the Funds held by Lender is not sufticient to pay the escrow items when due, Borrower shall pay to Lender any ~ amount necessary to make up the deficiency in one or more payments as required by L.ender. Upon payment in full of all sums secured by this Security Instrument, L,ender shall promptly refund to Borrower any Futids held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, L,ender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Security Instrument. 3. Applicatioa ot Payments. Unless applicable law provides otherwise, all payments received by Lender under r paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under the Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due. > 4. Charges; Liens. Bonower shaU pay all tazes, assessments, charges, fines and impositions attributable to the Property which 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, Borrower shall pay them on time directly to the person owed payment. Borrower shaU promptly furnish to Lender all notices of amounts to be paid under this paragraph. If Bonower makes these payments directly, Bonower shall promptly furnish to Lender ' receipts evidencing the payments. Borcower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's op~nion operate to prevent the enfo~cement of the lien or forfeiture of any part of the Property; or (c) secures from the holder af the lien an agreement satisfactory to Ixnder subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisiy the lien or take one or more of the actions set Forth above within 10 days of the giving of notice. 5. Hazard Insurance. Borrower shall keep the improvements now~ eaisting or hereafter erected on the Propeny insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be ' uhreasonably withheld. ~ j All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. ~ ` Lender shall have ihe right to hold the policies and renewals. If Lender req~ires, Borrower shail promptly give to Lender ~ all receipts of paid premiums and renewa! notices. In the event of loss, Borrower shall give prompt notice to the insurance , carrier and L.ender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair ~ of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be ~ applied to the sums secured by this Security Ins:rument, whether or not then due, with any excess paid to B~r:ower. If Borrower abandons the Property, or does not answer w7thin 30 days a notice from L,ender that the insurance carrier has ~ ~fiered to settle a claim, then L.ender may coflect the insurance proceeds. L,ender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day period will begin _ ~ when the notice is given. Unless Lxnder and Borrower otherwise agree in writing, any application of proceeds to principal shall not eztend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If ~ under paragraph 19 the Property is acquired by Lender, B~rrower's right to any insurance policies and proceeds resulting ~ from damage to the Property prior to the acquisitian shall pass ta I,ender to the extent of the sums secured by this Security ~ Instrument immediately prior to the acquisition. v. Diiai.i iaaivi~ aisu uiti,ioS:~~°. ^v~ .~.~^vp~°.,~~ i....°o~`o~~~~C Rnrrnwrr chall nnt rjPCtrnv. ~1ama¢oe [~r cuht[a?liiellV ~ change the Property, allow the,Property to deteriorate or commit waste. If this Security Instrument is on a leaseh~ld, ~ Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasrhold and fee title shall not merge unless Lender agrees to the merger in writing. ~ 7. Protection of Lender's Rights in the Property; hiortgage Insurance. If Borrower fails to perform the f covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect ~ Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights ~ in the Property. L.ender's actions may include paying any sums secured by a lien which has priorit}~ over this Security ~ Instrument, appea.ring in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although ~ Lender may take action under this paragraph 7. I,ender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 shali become additional debt of Borrower secured by this ~ Security Instrument. Unless Borrower and Lender agree to other terms of paymenf, these amounts shall bear interest from ~ ~ the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower ~ requesting payment. t ~ ~ ~ uon K~~O P~GE ~oc~c ~t~ taUE O~ . ' ~`_:u ~~r' ~.:t . - ~ t~ u"= ~""~.s..c~`=~~u ^~",+.~'~~".a ",s~~,^k "+~~'~-~y`~;`5~`. ~