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Home My WebLink About0943 ~ . ~ t ~ ~.j i~ UNIFORM COVENANTS. Borrower and Lender covenant and agree as iollows: t. Paym~nt of Pnndpal ~nd Intsns~ Pr~paymmt and Lat~ Char~s. 8arowe~ shall promptly pay when due the prir~cipal ot and ~nterest on the debt evidenced by the Note and any prepayme~t and late charges due under the Note. 2~und~ for TanM and Inaw~na. Subject to applicable law or to a written waiver by Lender, 8o~rower shall pay to Le~der on the day monthly payments are due unde? ihe Note, unt~l the Note is paid in full, a sum ("Funds") equal to one-twelfth of: ( a) yeary taxes and assessments which may attain prionty over this Security Instrument; (b) yearly leasehold payments a ground rents on ihe Property, if any: (c) yeary hazard i~surance premiums; and yeary mortgage insurance premiums, it 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 inst~tution the deposits or accounts of which are insured or guaranteed by a federai or state agency (+ncluding Lender if Lender ~s such an inst~tution). Lender shall appy the Funds to pay the escrow items. Lender may no[ , charge for holding ar.d appying the Funds, anaryzmg the account or veriying the escrow aems, unless ~ender pays Borrower interesi on ihe Funti~ and a{~piic~bi~ iaw ~i~rmits Lendet t~ make such a char~e. 8crr~;~er a~d Lettdet may ag:ee in ~;~itinglh3t ~nterest shall be paid on the F~nds. Unless an agreement is made or applicable law requires interest to be paid. Lender shall not be required to pay Borrower any interest or earnings on the F~nds. Lender shall give to Bwrower, without charge, an annual account~ng of the Funds show~ng cred~ts and debits to the Funds and the purpose for which each debit tothe Funds was made. The Funds are pledged as additional security for the sums secured by this Security Instrument. If the amount of the Funds hela by Lender. together withthe future monlhy payments of Funds payable prior tothe due dates of the escrow items, shalt exceed the amount ?equired to pay the escrow items when due, the excess shatl be, at Borrower's option. either prompty repaid to Borrower or credited to Barower on monthly payments of Fu~ds. If the amount of the Funds held by Lender is not sutficient to pay the escrow items when due. Borrower shall pay to Lender any amount necessary to make upthe defic~ency in o~e or more payments as required by Lender. Upon payment in full of al! sums secured by this Security Instrument, ~ender shalt prompty refund to Borrower any Funds T~e1d by Le~ ~uar. i~ u~ ~a~ pa~ a~raph 19 i~ ~c r-~ oN~ty is $old or acquired by Lender, Ler.~r shal! apply, no later thar. immediately pri~ to the saie of the Property or its acqulsition by Lender, any Funds hefd by Lender at the time of application as a cred~t against the sums secured by this Secur+ty Instrument. 3. Appllestlon of Paym~nta. Unless applicable Iaw provides oiherwise, alf payments received by Lender under paragraphs 1 and 2 shail be applied: first, to Iate charges due under the Note; second, to prepayment charges due under the Note; third, to amounts payable under paragraph 2; fourth, to interest due: ard tast. to principal due. Chu~~s; Llons. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the ~ Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Barower shall pay ` these oWigations in the manner provided in paragraph 2. or rf not paid in that manne?, Borrower sha11 pay them on time d+recty tothe ~ person owed payment. Borrower shall promptly furnish tc Lender ali notices of amounts to be paid under this paragraph. tf Barower makes these payments directly. Borrower shall prompty furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Securiry Instrument unless Borrower: (a) agrees in ; writing tothe payment of ti~e obligation secured by the I~en in a manner acceptableto Lender; (b) contests in goodfaith the fien, by or ~ defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien or forfeiture oi any part of the Property: or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Securfty Instrument. If lender determines that any part of the Property is subject to a lien which may attain pri~rity 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 oi the giving of notice. ; 5. Huard Insurance. Borrower shali keep the improvements now existing or hereafter erected on the Prop~ty insured against ioss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender requires ~nsurance. This insurance shall be ma~ntained in the amour~s and tor the periods that Lender requires. The insurance carrier ~ providing the insurance shall be chosen by B~rrower subject to Lender's approval which shall not be unreasonably w~thhe(d. All insurance policies and renewals shal! be acceptable to lende~ and shall include a standard mortgage clause. Lender ; shall have the right to held the polic+es ard renewals. If Lender requ~res. Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. In the event ot loss, Borrower shall give prompt no!~ce to the insurance carrier and Lender. Lender ? j t may make proof ot loss if not made promptly by Barower. 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 ~s economicalty feasible and LenrSer's securiry is not lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insura~ ~ce proceeds shali be applied to the sums secured by this Security Instrument, whether or not then due. with any excess paidto Borrower. If Borrower abancions the Property, or does not answer within 30 days a notice irom lender that ihe insurance carrier has ofiered to setlle a claim, then Lender may collect the Insura~ce proceeds. Lender may use ihe proceeds to repair or restore the Property or to pay sums secured by this ~ 8ecurity Instrument, whether or not th~n due. The 30-day peri~d will begin when !ha notice is given. ~ Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shatl not extend 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 j paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance po~icies and proceecis resulting from damage to ~ ~ the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately ~ prior to the acquisition. ~ 6. Pr~aarvatlon and Malntenanct ot PropKty; L~as~hoid~. Borrower shall not destroy, damage or substantially ~ change the Property, allow ;he Property to deieriorate or commit waste. If this Security Instrument is on a teasehold. Borrower shall ~ ~ compy with the provisions of the lease. and if Borrower acquires fee title to the Property, tneleasehotd and feet~tleshall not merge ~ unless Lender agrees to the merger m writing. ~ 7. Prot~ctlon of LMd~s riphts in th~ PropMy; iNort~pe Insurane~. If Borrower fails to perform the covenants ~ and agreements contained in this Security Instrument, or there is a legal proceeding that may significantfy affect Lendeir's rights in ~ the Property (such as a proceedi~q in bankrupicy, probate. for condemnat~on or to entorce laws or regulations), then Lender may do and pay for whatever ~s necessary to proted the vatue of the Property and Lender's rights ~n the Property. Lender's actions may ~ include paying any sums secured by a iien which has priority over this Sac.~;rity Instrument, appearing in court, paying reasonable attcxneys' fPC~ and enterino on ihe Pronerty to make reua~rs Althou4h Lender may take action under this paragraph 7, Lender does a not have to d~ so. Any amounts disbursed by Lender under this paragraph 7 s~~all become additional debt oi Borrower secured try this Security j , Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest trom 1he date of ~ distwrsement at th~ Note rate and shall be payable, with interest, upon notice from ~ender to Borrower requesting payment. , ? BOn1f ~ P~Gf J ~ . ; ~ ~ ~r. - ~ ~