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Home My WebLink About0964 UNIFURM COY~NANTS. Borrower a~i l.ender cavcnant and agree as follows: 1. Payment of ~ri~rcipal and Interest; Prep~yment and l.ate Charges. Borrower shaN prump~y~ay when due the principal i ut and inter~st on the deM evide~xed by the Note and any prcpayment and late cha~ges due under tffe ~lote. ; 2. Fuads [or T~1xes aAd Insurance, Subject to appli~abie law or to a written waiver by Lender, Borrower shall pay to L.ender ~ un the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds") equai to one-twelfth of: (a) yearly taxes aad assessments which may attain priority over this Security lnstrument; (b) ye,at~{y I~sehold pay(~eo~ or grounci rents on the Prc~perty, if any; (c) yea~iy hazard insurance premiums; and (d) yearly mortgage in~nce premiu~. St any. These items are caUed "escrow items." L.ender 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 l.ender if L.ender is such an institutiun). l.ender shall apply the Funds to pay the escrow items. Lender may ~cx charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless L.ender pays 8orrower interest on r._.a'_ _ a".,~ ..er..."~ t°^.L. .,.a4.. c~u~i? o rF~aror RAfrflWPf Afl[I IEfldEr ~O$V BQ~CC Ifl W~ITIIIQ ~I18I 1IIIC~CSI SFIaI~ a u..ua ~ ..w:. r_-..-_._ be paid on the Funds. Unless an agreement is made or applicable law requires interest to be paid, L.ender shall not be required to pay Borrower any interest or earnings on the Funds. I.ender shall give to Borrower, without charge, an annua! acccwnting of tbe Funds showing credits and debits to the Funds and the purpose for which each debit !o the Fuads was msde. The Funds are pledged as additiona) 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 priot to the due dates uf the escrow items, shall exceed the amount required to pay the esc~ow items when due, the ezcess shall be, at Borrower's option, ' cither promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If thc amount of the Funds held by Lender i~ not sufficient to pay the escrow items when due, Borrower shall pay to (xnder any amount necessary to make up the deficiency in one or more ~ayments as required by L.ender. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds hetd by t,ender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no later than immediately prtor 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. ~ l.'_'..._,,. 11 ..a , ~ ~ ~-1 l+~. l nnr~nr ~~.v~Qr n~raor~nhc 3. Applieation ot Yaymenis. uniess appiicaoie ~aw ~IUVIUCJ iriuc~w~x. ai~ ra.j.:.:. ..5 r-^a--r I and 2 should be applied: first to amounts payable under paragraph 2; second to interest; and last to principal. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which may attain priority over th~s Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay therrt on time directly to the person owed payment. Borrower shall promptty furnish to Lender al) notices of amounts to be paid under this paragraph. If Borrower makes these payments directly, Borrower sha!! promptly furnish to l.ender receipts evidencing the payments. Borrower 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 L,ender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the l.ender's opinion operate to prevent the enforcement of the lien or forfeiwre of any part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lender . 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 tien. Borrower shall satisfy the lier~ ur take one or more of the actions set forth above within lQ days of the giving of notice. 5. Nazard Insurance. 6orrower shall keep the improvements now existing or hereafter erected on the Property insured against lou 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 l.ender's approval which shall not be unreasonably withheld. All insurance policies and renewals shall be acceptable to Lender and shafl include a standard mortgage clause. Lender shal( have the right to hold the policies and renewals. If l.ender requires, Borrower shall promptly give to [.ender all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Untess I.ender and Borrower otherwise 2gree in writing, insurance proceeds shall be applied to restoration or repair of the Pro- peny damaged, if the restoration or repair is economically teasible and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security would be tessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether o~ not then due, with any excess paid to Borrower. !f Borrower abandons the Property, or dces not answer within 30 days a notice from i.ender that the insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums serured by this Security [nstrtiment. whether or not then due. The 30-day period will begin when the notice is given. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shati not extend or postpone the due date of the monthly payments referred to in paragraphs I and 2 or chartge the amount of the payments. If under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acq~isition shatl pass to Lender to the extent of the sum~ secured by this Security Instrument immediately prior to the acquisition. 6. Preservation and Maintenance of Property; Leaseholds. Borrnwer shall not destroy, damage or substantially change the Property, allow the Property to deteriorate or commit waste. [f this Security lnstrument is on a leasehold, Borrower shall comPly with the provisions of the lease, and if Borrower acquires fee tide ro the Property, the leasehold and fee tiNe shall not merge unless Lender agrees to the merger in writing. 7. Protection of Lender's Rights in the Property; Mortgage Insurarece. If Borrower fails to perform the covenants ar~d agreements contained in this Security tnstrument, or there is a tegai proc-eeding that may significandy 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 Propeny and Lender's rights in the Property. L.ender's actions may include paying any sums secured by a lien which has priority over this Seeurity Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although L.ender may take action under this paragraph 7, [.ender dces not have to do so. ~ ~ x f SO'~K PNGE