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Home My WebLink About0918 UN~FORM COVENANTS. E3orrower and Lender covenant and agree as follows~ 1. PaymeM of Princepal and IMerest; Prepayment and Late Cher~es. Bo~rower shall promptly pay when due the prinCipal of and interest on the debt evidenced by the Note and any prepayment and late charges due under ihe Note. 2. Funds for Taxes ar~d Inwra~ce. Subject to applicable law or to a written waiver by Lender, 8orrower shatl pay to Lender on !he day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds') equal to one-twelfth of: (a) yearly taxes and assessments which may attain priority over this Securiry I~strument; (b) yearfy leasehold payments or ground rents on the Property, i! a~y; (c) yearly hazard insura~ce premiums; and (d) yearly mortgage insurance premiums, if any. These items are called "escrow items" Lender may estimate the Funds due on the basis oi cu~rent data and reasonable estimates ot 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 Lender if lender is such an institution). Lender shall apply the Funds to pay the escrow items. Lender may not charge for holding and applying the Funds, analyzing the account or veritying the escrow items, unless Lender pays Borrower inte~est on the Funds and applicable law permits Lender to make such a charge. Borrowe~ and Lender may agree 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 requ+red to pay Borrower any interest or earnings on the Funds. Lender shatl give to Bo~rower, without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additi~nal security for the sums secured by this Securiry 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 escrow items, shall exceed the amount rsquired to pay the ~scrow items when due, the excess shall be, at Borrower's ~ption, either promptly repaid to 8orrower or credited to Borrowe~ on monthly payments of Funds. If the amount ~f the Funds held by Lender is not sufficient to pay the escrow 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. Upon payment in full of all sums secured by this Securiry Instrument. Lender shall promptly refund to Borrower any Funds held by Lender. 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 Property or its acquisition by Lender, any Funds held by Lender at the time ot application as a credit a~ainst the sums secured by this Security Instrument. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender ~nder 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 amouMs payable i under paragraph 2; fourth, to interest due; and last, to principal due. 4. Char~es; Liens. 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. 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 directty to the person aw~d payment. ~orrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. It Borrower makes these payments • directly, Borrower shall promptiy furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has prioriry over this Securiry Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lian by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the en(orcement of the lien or forfeiture of any part ot the Property; or (c) secures from the holder of the tien an agreement satisfactory to Lender subordinating the lien to this Securiry 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 identitying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the g~ving of notice. 5. Hazard insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against lass by fire, hazards included within the term "extended coverage" and any other hazards for which Lender requires insurance. This insurance shatl 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 Lender's approval which shall not be unreasonably withheld. All insurance policies and renewals shatl be acceptable to Lender and shail include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to lender 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. ~ Unless Lender and Borrower othenuise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property ; damaged, if the restoration or reRair is economically feasible and Lender's securiry is not lessened. If the restoration or repair is not ` economicatly feasible or Lender's securfty would be lessened, the insurance proceeds shall be applied to the sums secured by this ~ Securiry 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 tne ~nsu~ance 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 secured by this Security Instrumen2, whether ~ or not then due. The 30-day period will begin when ihe notice is given. Unless Lender and 8orrower otherv~,hse agree in writing, any application of proceeds to principal shall not extend or postpone the g payments. If under paragraph 19 the ~ due date of the monthly payments referred to in paragraphs 1 and 2 or chan e the amount of the ~ Property is acquired by Lender, Borrower's right to arry insurance policies and procesds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Securiry Instrument immediatefy prior to the acquisition. ~ 6. Preservstion and Maintenance of ProQerty; Leasehdds. Borrower shall not destroy, damage or substantially change the Property, ~ allow the Property to deteriorate or commit waste. If this Securiy Instrument is on a leasehold. Borrower shall comply with the provisions ~ of the tease, and if Borrower acquires tee title to the Property, the leasehold and fee title shall not merge unless Lender agrees to the ~ merger in writing. ~ 7. Proteation of Lender's Rights in the Pro~erty; Mortgage Insuronce. If 8orrower fails to perform the covenants and agreements ~ c~ntained in this Securiry Instrument, or there is a legaf proceeding thai may significantly affe^,t Ler~der'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 Property and Lender's rights in the Property. Lender's actions may include paying any sums secured ~ by a lien which has priority over this Securiry Instrument, appearing in court, paying reasonable attorneys' fees and entering on the ~ Property to make repairs. Although Lender may take action ur~der th+s paragraph 7, Lender dces not have to do so. ~ My amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Securiry ~ Instrument Unless Borrower and Lender agree to other terms oi payment, these amounts shall bear interest from the date of disbursement ~ at the Note rate and shall be payable, with interest, u~,on notice fram Lender to Borrower requesting payment. ~ ~ r~ ~ ~96 ~~sE ~1~ ~ BOf;A ~ ~ vsy. ~ o+ ~ ~ F.ORIDA-Slnyle Family-FNMA/FLHMC UNIFORM INSTRUMENT Form 3010 12/63 GF F150025 7/84 y 1~(1 ~ 1 Z~ :l ) 1 ' ~g' - I . ~v.•" ,~„-~"~~e"r ~~..~r~,v;~c~ t % ~'"-.'°"~"vy,~`",y1' ~ , ~ _