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Home My WebLink About0931 ~ , . UNIFORM COVENAM'S. Bonow~r and L.ender covenant and agra as follows: 1. Paymeut ot Pri~cipal and Iateies~ Prepymer~t and Late Cbargea. Borrow•er shall promptly pay w~hen due the principal otand interest on the debt evidenced by the Note and iny prepayment and late charges dut under the Note. 2. ~ad~ tor T~a add Iawrasoe. Subject to applicable Lw or to a written waiver by Lender~ Borrower shait pay to Lender on the dsy monthly psyments ue due under ihe Alote, until the Note is paid in full. a sum ("Funds") equal to one-twelfih ot (a) yeuly wca and assessmenta which cnay atUdn priority over this Security Instrument; (b) yesrly IeasehoW paymrnts or around rents on the Property. if any; (c) ya~tly hazard insurance prcmiums; and (d) yearly , mortgage insurance premiums, if any. These items are catlod "escrow ittms." Lrnder may estimate the Funds due on the b~sis of current data snd reasocubk estimsta af future escmw items. The Funds shall be held in an institutic+n the deposits or accounts of which are insured or guaranteed by a federal or state agency (including L.ender if l,er~dtr is such an institution). Lrnder shall apply the Funds to pay the escrow items. ~ L.ender may not chuge for holdiag and applying the Funds, analyzing the account or verifying the escrow items, unless , I.ender pays Borrower inttreat on the Fuads and applicable tsw permits Lender to make such a charge. Borrower and L.ender may agree in writing that interat ahall be paid on the Funds. Unless an agreement is made or applicable law requires interest to be p~aid~ Lender sbaU not be roquired W pay Horrower any interat or earnings on the Funds. Lender shall give to Bomower, without charge, an annual sa;ountiag of the Funds showing crodits and debits to the Funds and the purpose for which atch debit to the Funds wu made. The Funds are pledgod as additional socuriry for the sums secured by this Socwity Instrument. if the amount of the Funds hdd by Lender, :ogether with tho futun monthly paymmts of Funds payable prior to the due dates of the eacrow itema„ ahaU excxed the unount tequired to pay the ~scrow items when due, the eacess shall be, at Borro~va's option, ather promptly repaid to Borrower or credited to Borrower on moathly payments of Funds. If the : amount of the Funda held by L,ender is not suf6cient to pay the escror?r itans whai due, Borroaer shall pay to Lender any smount nooassaryr to m~ice up the deScieacy in one or moce payments as raquired by I.ender. Upon payment in full of all sums sxured by thia Security Inswmer~~ I.ender shall promptly rd'und to Bonower any Funds heW by Ltnder. If under paragrxph 19 the Property ia sold or aoquired by I,~t~du, Lender shall appiy, no later than immadiatdy prior to the aale of the Property or its aoquiaition by Lender~ u~y Funds held by L,ender at the time of appGcaqoa ss a credit against the sums secured by this Security Instnuneat. 3. A~Uestioe d P'a~seets. Unlesa applicabk 4w provida other~rix, all paymeats reoeived by Lender under ~ paragraipha I and Z shall be applied: Srat, W lste charsea deie andet the No~e; aocond. to prepayment charges due under the , Not~ third, to amounts payabk under pangrsph 2; fourth. to intereat du~ aad latt, W prit~ipal due. r 4. ~ I.k~. Bortnwer ahsll pay all tases. a~ts, charge~, Qnea and impoaitioas attributable to the ~ Property w?hich may attain priority over this Sec~uity Iastruantat, and kasehold payments or ground rrnts, if any. ~ Borrower shall pay theae obligations in the manner provided in psn~graph 2, or if not paid in that manner, Borroaer shall p~ay them on time directly to the peraon owed paymeat. Homotiver shall promptly furnish to I.ender all notices of amounts to be p:id unda this peragrapb. If Borro~va makes iheae payma~ts directly, Borrower shal! prompdy furnish to Lender recapts evi~ncing the psymenta. Horrower shaU pranPdY diacharge any lien ~rhich has priority over this Security Instrument unless Borcower: (a) agrees in writing to the paymeat of the obGgstion aecured by the lien in i mannu aoce~table to Lender; (b) contests ia good faith the lien by, or defends sg,tinst mforc~emeat ~'the liea in. lcga! prooeedinga ahich in the Lcnder's opiruon operate to p~event the a?farvana~t of the tiae or forfeitnre of any put of the Praperty; or (c) socures from the holder of the lien an agreemeat satisfactory to Leader subordinitina the tiea to tbis Security Instrument. If Ltnder determines that any part of the Property is subject to a liai Mhich may attain priority over thia Secwity Instnunent, Landtr may give Borrower a notice ideatifying tb?e lien. Borrowtr shall satiafy the lieti or take one or more of the sctions set forth above within t0 days ? of the giving of noticx. S. Nazsrd Lwrmoe. Borrower shall keep the improvements now existing or hereaRer ercctai on the Property 3 insured against kss by &e, harards inclt~ded within the term "eutended ooverage" and any other hazards for which I.ender ~ requirrs insuranve. Thia insurance shatl be maintainod in the amounts and for the periods that L.ender roquires. The insurance carrier providina the insuranoe shaU be chasa~ by Borrowa subject to Lcnder's approval which shall not be unreasonably withheld. AII iasurana policies and renervals shall be aooeptablt to Laider and shell include a standard mortgage clause. I.euder shall have the right w hold the policic~s and renewals. If I.ender requires, Borrower shall promptly give to Lender all reodpts otpsid praniums and renewal notices. In the event of loas. Borrower shall give prompt notice to the iasurance carrier and I.ender. I,euder may make proof of loss if not made promptly by Borrower. Unless Lender and Hornowa othe~via~ agra in writing, insurance proooeds shall be applied to restoration or repair of the Property damagod, if the restoratioa or repair is a~onomically fessibk and Leader's socwity is not lessened. If the reswration or repair is not ec~onomicaUy feasibk or I.eader's security would be lsssened, the insurance procceds shall be applied to the sums socwed by this Security Instrumwt, ~vhether or not then due, with any excess paid to Borcower. If , Borrower abandons the Property, or does not answtr within 30 duys a notice from I.ender that the insurance carrier has ; offered to settk a claim, then Leader cnay colleM the insun~nce proceeds. Lender may use tfie proceais to repair or restore ' the Prop~rty or to pay sums aocured by thia Security Instnuneat, whether or not then due. 'I`he 30-day period will begin ~ when the notioe is given. • _ Unless Lender and Borrower otherwise agret in writing, any application of procoods to principal shall not extend or ~ posipone the due date of the moathly payments refernd to in paragraphs 1 and 2 or change the amount of the payments. If ~ under paragraph 19 the Property is ac~uired by Lender, Bonowcr's right to any insurance policies and proceods resulting from darnage to the Pr~operty prior to the acquisition shall pass w Lender to the extent of the sums socured by this Security Instrument ia~modiatcty prior to the soquisition. 6. Praertatioa asd MainteasACe of Pmperty; Leasehotds. Borrower shall not destroy, damage or substantially change the Proptrty, aUow the Property to deteriorate or coramit ws~.cte. If this Security Instrument is on a lesuhold, Borrower shall c~tnply ~vith the provisions of tbe lease, and if Borrowu acquires fa title to the Property. the leasehold and fce titk st~all not merge unless Gender agroes to the merget ia writing. 7. Protectios ot I.eeda'a Ri~hts in t6t Property; Mort~ge Insnrance. If Borrowcr fails to perform the oovenants and agraments eontained in this Security Instrument, or there is a Itgal proceeding that may significantly affect Lrnder's rights in the Proprrty (such as a procading in bankruptcy, probate, for condemnation or to enforce laws or regulations). then Lender may do and pay for whatever is necessary to protcct 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 ovcr this Security Instrument, appearing in court, paying reasonable attorneys' fas and rntering 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 Lender under this paragraph 7 shall become additional debt of Borrower secured by this Security Instrument. Unless Borrower and Lender agra to other terms of Qayment, these amounts shall bear interest from tho date of disbursement at the Note rate and shall be payable. with interest, upon notice from Lender to Borrower requesting payment. . ~o~~ 498 ~3~ ~ . _ . .w _ - . - - -