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Home My WebLink About0939 r ~ ; ; UNIFORM COVENANTS. Barower and ~ender ooveneM aind ~g~ee as follows: 1. ~+aY~n~nt o1 Prl~dpal and int~n~s~ Rnpayn~t and LaM CArq~a. Borrowar snalt prompty pay when due the principal ot and interest on the debt evidenced by the Note and any prepaymeni and late cha~gas due under the Nole. - t Fut~ b~ T~ocN ~nd Imurano~. Subjec~ to epplic8de !8w or to a wrAten w8iver by Lende~, Borrower shall pay to Lender on the day monthy payments are du8 under the Note, uMtl ihe Note is paid in fuH, a sum ("Funds") equal to one-tvveltth oF. ( a) yeary taxes and assessments which may attain priority o~er this Security Instrument; (b) yeary leasehold payments or ground rents on the Property. N any; (c) yeary hazard insurance prem+ums; and (c~ yeary mortgage insurance premiums. iF any. These items are called "escrow ;tems." Lender may estimate the Funcis due on the basis of currenl dffia and reSS4nable estimates of future escrow Aems. . The FundS shall be held in an inslitution the deposits or acc0unts oi which are insuretf or guaranteed by a federal or staie agency (including Lender if l.ender is such an institution). Lender shatl appy the Funds to pay the esaow Aems. Lender may not ~ charge lor hotding and appying the Funds, anaryz+ng the aeco~a~t a veiirying the esaow items, uNess Lender pays Borrower ~ interest on the Funds and ap~licade Iaw permiis Lender to malce such a charge. Sorrowet and lendet may a$ree in writing that mte?est shall be paid on the Funds. Unless an agreement is made or epplicable law requaes interest to be paid, Lender sheH nW be required to pay 8orrower any inlerest or earnings on the Funds. Lender shall give to Bor~ower, without cherge, an ennua! ~ accouMinq of the Funds showing credits and debits tothe Funds and the purpase for which each debit tothe Funds was made. The Funds are pledged as additiona! securiy for the sums secured by ,~:ES Secu~ity Instrument. If the amount of the Funds held by Lender, together with tP~ future mor~ hy payments of Furtds payable prior to the dus dates ot the escrow items, shafl exceed the amount required to pay the escrow items when due, the excess sha!! be, at Borrower's option. either promptty repaid t~ Borrc,wer or credited to Borrower on monthly payments of Funds. lf the amour~ oi the FurKis h~d by Lender is not sufticient to pay the escrow ftems when due, Borrower shall pay toLender any amount necessary to make up the deficiency n one or more payments as required by ~ender. Upon payment in full of a!I sums secured by this Securiry Instrument, l.ender shali prompty retund io 8orrov+rer any Funds hetd by Lender. lf under paragraph 191he Property is sdd or acguired by Lender. Lender shall appy, no later than immediately prior to the sale of the Property w is acquisition by Lender, any Funds hetd by Lender at the time of appl~cation as a credit against the sums sec;ured by this Security Instrume:~t. 3. AppllcaNon of Psym~nta. ilnless appticable taw provfdes dherwise, ~II paymenls recen+ed by Lender under paragraphs 1 and 2 shaN be apptied: first: to tate charges due under the Note; seoorxi, to Arepayment charges due under the No,s; third, to amounts payable under parag?aph 2; foudh, fo interest due: and last, to pr~cipal due. 4. Char~t; Ll~ns. Borrower shall pay all taxes, assessmsnts, charges, fines and impositions attributable to the Property which may ariain 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 rt nd paid in that manner, Borrower shatl pay them on time direGy tothe person owed payment, Borrower shafi prompty furnish to Lender all notices af amounts to be paid ur~ this paragraph If Barrower makes these payments directy. Borrower shall promptly tur~sh to Lender receipts evidenang the payments. Borrower shall promptty discharge any Nen which has priority over this Security Instrumant anless Ba. rower: (a) agree.s in writin~ to the payment ot the ab~igation secured by the lien in a manrr~r acceAtableto Lender; (b) contests in gc>od taith!~ lien, by or defends against enforcement oi the lien in, legal proceedings which in the lender's opinion operate to prevent the enforc~ment of the lien or forfeilure of any part of the F'roperty; or (c) secures hom the holde? of the lien an agreement satisiactory to Lender subordinating the lien to this Sec:urity instrumeM. ff Lender determines that arry part of the Property is subjed to a lien which may attain priority over this Security I ns~rument, Lender may give Borrower a notice ~dentityingthe lien. Borrower shalt satisy the lien or take one or mo?e of the actions set forth above within 10 days oi the giving of notice. S. Hatsrd Insunno~. Borrower shall keep the improvements now existing or hereafter e{eded on the Property insared against loss by fire, hazards inc(uded within the term "extended Coverage" and any other hazards for which lender requires insurance. This insurance shaN be maintaineci in the amounts and for the psriods thai Lender requires. The insurance carrier providing the insurance shall be chosen by 6orrower su~jed to Lender's apprava! which shall not be unreasonably withheld. AI! insurance policies and re~ewals shall be acceptable to lender and shall indude a sia~idard mortgage Gause. Lender shall have the right to hold the policies and renewals. if Lender requires. Borrower shalt prompty give to Lender aU receipts o( paid premiums and renewal notices. ln the event of loss. Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof oi loss if not made ~xompty by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shalt be appiied to restoration or repair of ihe Property damaged, if the restoration o~ repair is economicalty feasiWe and Lender's secur~ty is not lessened. !f the restoralion or repair is not economicaly teasibte or Lender's secur~ty would be lessened, the insura,ce proceeds shall be applied to the sums secured by this Security Instrumenl, whether or not then dus, with any excess paid to Borrower. If Borrower abandons the Property, or does not answer within 3d days a notice fiom lender that the i~urance carrier has offered to settle a claim, then Lender may collect the insu~ance proceeds. Lender may use the proceeds to repair or restors the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day period wdl begin when the notice is given. ~ Unless lender and Borrower otherwise agree in wrciting, any applica~ion of proceeds to prinapa! shait nd extend cx postpone the due date oi the monthty payments reterred to in paragra~hs 1 and 2 a change the amourit oi the payme~s. If undEx paragraph 19 the Property is acquired by Lender, 6onower's right to any iresurance potiaes and prooeeds resultin~ from damageto the Property prior to the acquis~tion shalt pass to t..ender to the exient of the sums secured by this Security Instrument immediatey priar to the aoquisition. 6. P~r~savNbn and MatMe~~ ot Prop~rlr; L~as~holdr. Borrower shall not destray, damage or substantisly change the Property, allow the Property to deteriaate or Commit waste. It this ~ecurity Instrument is on a leasehold Bcxrower shall oompty with the provisions of the lease, and if Borrower acquKes fee title to the Property, the leasehold and teetitleshall not merge unless Lender agrees to the merger in writing. 7. Prot~ctfo~ ot l~ndw~ ~i~ts M th~ PrapKfr MaN~ Insutanq. Ii Borrower taits to perform the covenants and agreements cOMained in this Security InstrumeM, a ihere is a ieyad proceeding that may signrficarttly affect Lendee's rights in the Property (such as a proceedinq in bankruptcy, probate, for condemnat+on or io enforcelaws a regulations), then Lender may do and pay for whatever is necessary to proted the value ot the Property and Lender's rigMs ~ thePropeAy. Lender's actions may include paying any sums securad by a lien which has pr'ror'Ry over this Security Instrument, appearing in court, paying reasonable aitansys' tees and entering on the Property to make repairs. Aflhough lender may talce action ur~der this paragra~ph l, Lendet doas not have to do so. Any amounts disbursed by Lender under this para~aph 7 shall become additional debt of Bor~awer secured by this Securiry lnstrument. Unless Borrower and Lender agree to other terms of payment, these amourNs shaU be~ interest (rom the.date oi distwrsement at the Note rate and shall be payable, with interest, upon notice hom Lender to Bonower requesting payment. I , i ~ SOQK~~GEi . i