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Home My WebLink About0935 . [ L;NtFOttM ~ovE~wtvTS. Borrower and Lender oovena:-~t and agroe as follows: 1. Payment n! P~nclpal aed Iater~ Prep~yaneat ~nd Lte (~u~es. Borrower shall promptly pay when dut the Qrincipal of and interest on the debt evidenced by the Note and any prepapment and late charges due under the N~te. 2. FLnds [or Tua aed f asur~ncs. Subjoct to applicable law or to a written wnivcr by Lenc~er. Borrower shall psy to Lender on che day monthly payments an due under the Note, until the Note is paid in full, a sum ("Fund~") equal to ono-twelfth of: (a) yearl~• tues and assessments which may atlain priority over this Security Ins~rument; (b) yearly ! leasehold paymrnts oi 6round renu on the Property~ if any; (c) yearly hazard insurance premiums; and (d) ~rearly mortgage insurance prEmiums. if any. These items are calied "escrow items." Lender msy estimate the Funds due on the basis of current data and reasonable esti~mates of futun escrow items. The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or statc agency (including Lender if I.ender is such sn iastitution). Lender shali ap~ly ~he Funds tc pay the escrow items. Lender may not chuge for holding and applying the Funds, analyzing the acoount or veriCying the escrow items. unless L.ender pays Barrower interest on the Funds and appGcable Iaw Qermits I.ender 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 roquires interest to be paid, Lender shall not bo required to pay Borrowu any interest or earnings on the Funds. Lender shall give to Borrower. without charge. an annual accounting of the Funds shcwing cred'ets and debits to the Funds and the ~ purpose for which each debit to the Funds Rrs made. The Funds an plodged as additional sxurity 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 escrc~w items, shall exceed the amount rtquirod to pay the escrow itectes when due, the ex~.ess snal! be. at Borrower's option. either prompdy repm~id ta Borrower or croditod to Bonower on manthiy payments of Funds. If the amount of the Funds htld by I.endu is aot su~cient to pay the =scrow items q hen due, Bc~rrower s~all pay to Lender any amount nocessary to make up the deficirncy in one or more paymrnts as requirod by Lrnder. Upon payment in full of aU sums socured by this Security Instrument, Lenda shall promptly refund to Borrower any Funds held by Lender. If under paragraph 19 the ProQerty is sold or acquired by Lender. Lender shall appty. no later than immediately prior to ~he sale uf the Pmperty or its aoquisition by Lender, any Funds held by Lender at the time of application $s a cr~dit against the sums securod by this Socurity Instrument. 3. Applic~Hoa of Payments. Unless appGcable law Frovides othcrwise, all payments raxivod by Lender under paragraphs 1 and 2 shall be applied: 6rst, to late charges due under the Not~ 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. G7~arge~ Liens. Borrower shall pay all taxes, assessments, charges, 6nes and impositions attributable to the Property which may attain priority over this Socurity Instrument. and leasehold payments or ground rents. if any. Borrowec shall pay thesr 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 owod payment. Borrower shall prompdy furnish to Len~er all notices of amounts to be paid under this paragraph. If Borrower makos these payments directly, Bor:ower shall promptty furnish to Lender receipts eiridencing the paymrnts. Borrower shall promptly dixharge any lirn which has priority over this Security Instrument unless Borrower• (a) agrees in writing to the payment of the obligation secured by the Uen in a manner acceptable to Lender, (b) contests in good faith the lirn by, or defends against enforcement of tne litn in. legal ~,rooeedingc which in the Lender's opinion operate to prevrnt the enforcemtnt of the lien or f~rfeiture of any part of the PropeRy; or (c) secures from the holder of the lirn an agrocment satisfactory to Lender subordinating the lien to this Socwity Instrumrnt. If Lender determines that any p~~t of - the Property is sub,~oct to a lien which may attain priority o~er this Security Instrument. Lender may give Borrower a notice idrntifying the iien. Bonower shalf satisfy the lien or take one or more of ihe actions set forth above within {0 days of the giving of notice. S. Haurd Insmm~et. Borrower shall keep ths improvements now eaisting or hereafter erocted on the Pmperty insured against loas by fire, ha7ards ir.cluded within the term "extenasd coverage" and any other hazards for which LendGr - requires insurance. 'I'his insurance shglf be maintained in the amounts and for the pcriods that Lender roquires. The insurance carrier providing the insuraace shall be chosen by Borrower subject to L,ender's approval which shall not be unreason.abty withheld. All insurancx policies and rtnewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shali have the righ: to hold the policies and renewals. If Lender roquires, Boerower shall prumptly give to Lender all roceipts of paid premiums and renewal notices. In the eves?t of loss, Borrower shall give prompt notice to the insurance carrier and Lendu. Lender may make proof of loss if not made promptly by Borrower. LTnless Lender and Borrow~r athrrwise agree in writing, insurance proc~eds shall be applied to restoration or repair j of che Property damagod, if the restoration or repair is economically feasible and Lender's security ic not lessened. If the i restoration or repair is not economicaUy feasible or Lender's security would be lessenod. the insurance proceeds shall be ~ appGed to the sums secured by this Socurity Instrumrnt, whether or not then due, w+ith any eacsss paid to Borrower. If ~ Borrower abandons the Property. or does not answer vr-ithin 30 day~s a n~tice from Lendtr that the insurance carrier has offered to settle a claim, then Lender may colloct the insuranct proc,eeds. Lrnder may use !he procoeds to repair or restare the Property ot to pay sums socurod by this Security Instrument~ whether or not thrn due. The 30-day per':od will begin whrn ihe notice is given. Unl~ss Lender and Borrower otherwis: agree in writing, any application of proceeds to principal shall not eatend or postpo*~e the due dat~ of the monthly paymrnts ~eferr~d to in paragraphs 1 and 2 or change the amount of the paymrnts. If under paragraph 19 the PropeRy is acquired by Lender. Borrower's right to any insurance policies and proceeds resulting froen damage to the Property prior to the acquisition shall pass to Lende* to the extrnt of the sums secured by this Security Instrumrnt immediately prior to the acquisition. 6. Pres~ratioa aad Malnteaaace ot Property; Laseholds. 8orruwer shall not destroy. damage or substantially change the Property, ailow ihe Property to deteriorate or commit waste. If this Security Instrument is on a leasehotd, ~ Borrower shall comply with the provisions of the lease. and if Borrower acquirss fee titie to the Property, the leaszhold and ~ fee tetle shall r~ot merge unkss Lender agrzes to the merger in wnting. ~ 7. Protertion vf Leader's Rigbts iu the Propsrty; Mort~age Insuraste. If Borrower fails to pcrform the ~ covrnants and agreements contairwd in this Security Instrumrnt, or there is a Iega3 proceeding that may significantly affect ~ Lrnder's rights in tht Property (such ai a proceeding in bsnkruptcy. probate. for condemnation or to enforce laws or rcgulations), :hen Lender may do and pay for whatever is nectssary to piotect the vslue of the Praper~y and Ltnder's rights ~ in the ProFxrty. Lender s actions rtwy include paying any sums sccured by a lien which has priority over this Security ~ Ir~strument, appearing in oourt, paying rzasonable attorneys' foes and enterir.g on the Property to malcc repairs. Although Lender may take a~tion under this paragraph 7, Lendtr does not have to do so. Any amounts d~sbursed by Lender under this paragraph 7 shall become additional detst of Borrower xcure~ by this Security Instrumrnt. Unless Borrowe~ and Lender agrce to other terms of payment, thae amounts shall bear interat from the date of disburxment at the Note rate and shall be payable, with interat, upon notice from Lender to Borrower ~ roquesting paymrnt. ~ ~ ~ ~ ~ . a~~~ 4~1~ ?+~E ~ - _ - ~ _ : - - _ _ _ _ ~ _T~: - R ~