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Home My WebLink About0949 UNIFORM COVENANTS. Borr~wer and Lender covenant and agree as follows: prym~t of prMcipai a~d ~~t~t; pirepayment snd t.ab Char~ss. Borrowe~ shall prompUy pay when due the principal bf and . interest on the debt evidenced by the Note and any prepayment and late charges due under the Nate. 2, Fw~da for Taxes and inwrence. Subject to applicable law or ta a vrrittan waiver by Le~der, Borrower shall pay to lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds") equal to one-twelRh of: (a) yearty taxes and assessments wh+ch may attain prio~ity over this Security Instrument; (b) yeaMy leasehold payments or grou~d rents on the Property, if any; (c) yearty hazard insurance premiums; and (d) yrearly mortgage insurance premiums, if any. These items are called "sscrow items" Lender may estimete the Funds due on the basis of current data and reasonable ostimates of future escrow items. The Funds shall be held in an institution the deposits w accounts of which are insured or guaranteed by a fedaral or state agency (including lender ~f Lender is such an institution). Lender shall apply the Funds to pay the escrow items. Lender may not charge tor holding and applying the Funds, analyzing the account or verilying the escrow items, unless Lender pays Borrower interest on the Funds and appliceble law permits Lender to make such a charge. Bo~rower 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 required to pay Borrower any interest or earnings on the Funds. ~ender shall give to Borrower, withoul charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for vrhich each debit to tt~e Funds was made. The Funds are pledged as additional securiy for the sur?ts secured by this Security instrument. If the amount of the Funds hel~ by Lender, together with tl~e future monthy payments of Funds payable prior to :he due dates ol the escrow items, shall exCeed the amount required to pay tfie escrow i4ems when due, the excess shalt be, at Borrower's option, either promptly repaid to Bonow~er or credited to Borrower on monthly payments of Funds. If the amount of the Funds held by Lender is not su(ficient to pay the escrow items when due, Borrower shall pay to Lender any am~unt necessary to make up the deficiency in one or more payments as reauired by Lendec ~ Upon payment in fuil of ail sums secured by this Security tnstrument, Lender shall prompGy refund ta Borrow~er any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lende~ Lender shall apply, no later than immadiately priar to the sale of the Property or its acquisitio~ by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Securiy Instrument. 3. Applicatio+~ ot Parments. Unless appl~cabie law provides otherwise, all payments received by Lender under paragraphs t and 2 shall be applied: first, to late charges due under tha 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. Cha~; Liena Borrower shall pay all taxes, assessments, charges, fines and impositio~s attributabte to the Pr~perty which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borr~wer s.hatl pay these obtigations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time direcdy to the person ow~ed payment. Borrower shall prompJy furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall prompUy discharge any lien which has prio~ity over this Security instrument unless Borrower: (a) agrees in writing to the payment of the oWigation secured by the lisn in a manner acceptable to Lender; (b? contests i~ goed faith the lien by, or defends against eniorcement of the I~en in, legal proceedings which in 1hE ~ender's opinion operate to prevent the enforcement of the lien or forfeiture of any part of the P~roperty; or (c) seGUres from the holder of the lien an agreement satisfactary to Lender subordinating the ~ien to this Securiy 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 idenGying the lien. Borrower shall satisy the lien or take qne o~ more of the actions set forth above within 10 days of the giving ot notice. 5. Hasard Insurance. Borrower shall keep the improvements now existing or hereaRer erected on the Property insured againsi loss by fire, hazards includ~d within the term "extended coverage" and any ~ther hazards for which Lender requires insurance. This insurance ~ shall be maintained in the amounts and tor the periods that Lender requires. The insurance carrier providing the insurance shal{ be a chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. j All insurance policies and renevvals shall be acceptable to Lender and shaU include a standard mortgage clause. Lender shall have the right to hold the policies and renewats. If Lender requires. Borrower shall promptty give to lender all receipts of paid pr2miums and renewal notices. In the event of loss. Borrower shall give prompt notice to ihe insura~ce carner and Lendec Lender may make proof of loss if not made promptly by Borrower. ' Unless Lender and Borrower ethervvise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property ~ damaged, if the restoration or repair is economically feasible and ~ender's security is not lessened. If the restoration or repair is not t economically feasible or Lender's securiry would be lessened, the insurance proceeds shall be applied to the sums secured by this ~ ~ Security Instrument, whethe~ or not then due, with any excess paid to Borrower. If Borrower abandons tt~s Property, or dces not answer ~ within 30 days a notice from Lender that the insurance carrier has ottered 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 Instr~ment, whether or not then due. The 30-day periocf will begin when the notic~ is gi~en. llnless Lender and 8c~rrower otherwise agree in writing, arry application of proceeds to principal shall not extend ar pastpone the aue date of the monthy p2yments referred to in paragraphs 1 and 2 or change the amount of the payments. If under paragraph 19 the Property is acq~ired by Lender, Borrower's right to ar.y insurance policies and proceeds resulting from damage to the Piroperty prior to the acquisition shall pass to Lender to the eactQnt of the s~ms secured by this Security instrument immediately prior to the acquisition. g, prsse~vation and M~i~tensnce of P?ope~ty; lassehdds. Borrawer shali not desUoy, damage or s~bstanUall~r change the Property. allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold, Borrower shall comply wiih the provis~ons of the lease, and if Borrower acquires tee title to the Praperty, the leasehold and fee title shalt not merge unless Lendzr agrees to the merger in writing. 7. Protectlor~ of Lenders Ri~tets in the Property; Mort~aqe Insursnce. If Borrower fails to perform the covenants and agreements ~ contained in this Security Instrument, or there is a legal proceeding that may significantty a!fect Lender's rights in the Property (such as ~ a proceed~ng in bankruptcy, probate, for condemnation or to enforce laws or regulaGons), then Lender may d~ and pay for whatever is ~ nes:essary to protect the walue of the Property and Lender's rights in the Property. Lender's actians may include paying any sums secured ~ by a fien afiich has prioriry over this Security Instrument, appearing in court, pairing r$asonable attorneys' fees and entering on th$ Property to make repairs. Although Lender may take action under this paragraah 7, Lender does nat have to do so. a ~ Arry amounts disbursed by Lender under this paragraph 7 shall becoms additional debt of Borrow~er secu~ed by th{s Securiry Instrument Unless Borrower and Lender agree to other ternns of paymant, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. 6ooK 503 ~~~f 948 ~ FLORIDA-SInQI~ iamN~r-FHMA/FLHIdIC Ufi1FORM INSTRUMENT Form ~0/0 12/e3 (3F FL5002S 7l84 _ i ~ _ : . . • . - : _ , : _ . - - _ _ ~