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Home My WebLink About0943 UN1FORnt CovEN~NTS. Borrower and I.ender covenant and agree as follows: 1. P~yment of Principal and interest; Prepayment sad Lte Charges. Borrower shall promptly pay when due the principal of and interest on the debt evidenced by t~e Note and any prepayment and late charges due under the Nate. ~ 2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, 8orrow•er shall pay ~ to Lender on the day mai~thiy payments arc due under the Note, until the I~ote is pa~d in full, a sum ("Funds") equal to one•tweli~h of: (a) yearly taxes and assessments which may attain priority over this Security lnstrument; (b) yearly leasel~old payments or ground rents on the Property, if any; (c) yearly hazard insurance premiums; and (d) yearly mortgage insurance premiums, itany. These items are called "escrow items." Lender may estimate the Funds due on the ; t~asis 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 insur.~ or guaranteed by a federal or ~ state agency (including I.ender if l.ender is such an institution). Lender shall apply the Funds to rsy the escrow items. ~ Lender may not charge for holdin~ and applyinR the Funds. analyzing the account or verifying the escrow items, unless y ~ Lender pays Borcower interest on the Funds and applicable law permits l.ender to make such a charge. Borrower and Lender may agrec in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law requires interest to be paid, Lender shall not be required to pay Borrow•er any interest or earn~ngs on the runds. ~enaer ~ shali give to Borrower, without charge, an annual accounting of the Fur.ds showing credits and debits to the Funds and the ; purpose for which each debit to the Funds was made. The Fun~is are pledged as additional security for the sums secured by ~ this Secs~rity Instrument. i If the amount of the runds held by Lender, together with the future monthly payments of Funds payable prior to ; the due dateF of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shall be, at Borrower's ortion, eithtr promptly repaid to Borrower or crc:dited to Borrower on monthly payments ot' Funds. If the • amount of the Fund~ held by Lender is not sufficient to pay the esc:row items when due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as required by Lender. j Upon payment in full of all sums secured by this Security Instrument, L,ender shali promptly refund to Borrower any Funds held by' ender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply; no later than immediately prior to the sale of the Properiy or its acquisition by Lender, any Funds hetd by Lender at the time of ! application as a credit against the sums s~ured by this Security Instrument. ; 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under ~ 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. Cfiarges; Liens. Borrower shali pay all taxes, assessments, charges, fines and impositions attributable to the ~ I Property which may attain priority over this 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 them on time direct(y to the person owed payment. Borrower shall promptiy furnish to Lender all notices of amounts • i to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender # 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 I.ender; (b) contests in good ~ faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lencier's opinion operate to ~ prevent the enCorcement of the lien or forfeiture of any part of ihe 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 PropertS~ is subject to a lien which may attain priorit~~ over this Security Instrument, Lender may give Sorrower a { notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. ~ 5. Hazard [nsurance. Borrower shall keep the.improvements nc~vr existing or hereafter erected on the Property ~ insured against loss by fire, hazar~s included within ihe 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 b}• B~~rou~er subject to Lender's approval w~hich shali not be ~ ~ unreasonably withheld. ; All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. ~ ' Lender shall have the right to hold the policies and renewals. If Lender requirc~, Borrow~er shall promptly give to Lender ~ ~ all receipts of paid premiums and renewal notices. In the event of loss, Borrawer shall gi~~e prompt notice ro the insurance carr~er and Lender. Lender may make proof of los~ if not made promptly b~~ Borrower. ~ Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied ro restoration or repair ~ of the Property damaged, if the restoration or repair is economicaUy feasible and Lender's security is ~ot lessened. Tf the ! resioration or repair is not eco~omically~ feasible or Lender's security w•ould be lessened, the insurance proceeds shall be ; ~ applied ro the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If ` ~ Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has ~ offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to rep ir or restore ~ ~ the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day pr~d willbegin when the notice is given. ~ ' ~ ~ l,'nless Lender and Borrower otherwise agree in writing, any application of proceeds to princip~i3~4ia11 rtut sx[end or ; ~ postpone !he due date of the monthly payments referred ro in paragraphs 1 and 2 or change the amo~~fii~t}~e peyme~ts. If ~ under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance polic~~'!~d prqoee~ls,tewltin~ ` from dama e to the Pro rt rior to the ac uisition shall ass to Lender to the e~tent of the s s:s~Curedby,~h+ ~$ecu i 8 Pe Y P 9 P ~ ~ Instrument immecliately prior to the acquisition. ~ ~ r ~ ~ ~ ` , ~ . : perty Leaseholds. Borrower shal! not ~i~dy,; dama'ge o~ b,~iaAt~lty ` ~ 6. Presenation and Maintenance of Pro , J , . ~ change the Property, allow tl~e Property to deteriorate or commit waste. If this Security t~s~tturrt~nt is, ~~aseFiofd, 8orrower shall comQly with the provisions of the lease, and if Borrower acquires fee title tcs~~e~Prq~f{y, i~e,le~4tlioldah¢-` ' fee title shap not merge unless Lender agrees to the merger in writing. J n•` - ~ 7. Protection of Lender's Rig6ts in the Property; :~iortgage lnsurance. Ii.$or;oWer.Pdiits to.pe~oY.~ the E covenants and agreements contained in this Security Instrvment, or there is a legal proceedin~~l4at d~}~sjgAificaRCiy afTect ~ Lrnder's rights in the Property (such as a proceeding in bankruptcy, probate, for condefhnatiq~,ta;~~i;Fnfotc~ laws or ! regulations), then Lender may do and pay for whatever is necessary to protect the value of the ~r ~~p" ectp~~td L~nder-'s rights E in the Property. Lender's actions may ir~clude paying any sums secured by a lien which has p~ionty over-lhfs Securitp ~ Instrument, appearing in court, paying reasonable attomeys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender does not have to do so. Any amounts disbursed by L.ender under this paragraph 7 shall become additional debt of Borrower secured by this Security Instrument. Unless Borrower and Lender agree ta other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shalf be payable, with interest, upon notice from Lender to Borrower ~ requesting payment. ~ ~ ` " ~~K~ ~ , ~ 800K ~ PAGE ~4.~ ~ . . ~ _ . ~ _ . , F . _ . . _ Y . . ~ - ~ _ _ ~