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Home My WebLink About0931 . , t ' . . UNlFORM COV~N~NTS. Honower and Lender covenant and agret as follows: ' 1. Paymeat bf Prinrlpal and Iaterest; Prepaymeat and Late Cbarg~a. Bonower shall promptly pay when due thc principal of and interest oo the debt evidencod by thr Note and a:?y prepay~nent and Iate charges due under the Note. 2. ~uds for Tanes and lusurance. Subjxt to applic;able law or to a written waivet by Lender, Borro~ver shalf pay ~ to I.ende~ on the day monthly payments are due under the Notc. until the Not~ is paid in full. a sum ("F4nds") equal to ~ ono-twoiRh of: (a) yearly taxes and assessments which may attain priority ov~r this Security Instrument; (b) yeariy leasehold pAyments or grounci rertts on the Property, if any; (c) yearly hazatd irisurgace premiums; and (d) yearly ~ mortgage iresurance premiums, if any. Thsse items are calleci "escrow items." Lender may estimate ~he Funds due on the basis oCcunent data and reasonsble estimates of futun e~crow items. ~ ; The Funds shail be held in an institution the depc~sits or accounis of which are insure.~ or guarantord by a federal or state agency (including Ltnder if Leieder is such an institution). Lender shall apply the Funds to pay thG escrow items. : I.ender mny not eharge for holding and applying the Funds, analyting tht account or verifying the escrow items. unless a Lender pays Bonoqver interest on the Funds and applicable law permits Lender to make such a charge. Bonower and Lender may agra in writing that interest shall be paid on the Funds. Unless an agr~ement is made or applicablz taw _ requirts interest to be paid, Lcnder shslt not be requirod tcr pay Borcower any interest or earnings on the Funds. Lender ~ shall giae to Borcowrr. without charge, an annual accounting of the Funds showing crcdits and debits to ihe Funds and the purpose far which each debit to the Funds was made. The Funds are pledged as additional security for the sums socured by ~ this Security Instrument. If the amount of the Funds held by Lender. together w~ith tht future monthly payments of Funds payable prior to ; the due dates of the escrow items, shall eacced the amount required to pay the escrow items when dae, the excess shall be, ; at Bonower's optior~, either promptly rcpaid to Borrowtr or cradited to Borrower on monthly payments of Funds. If the ' amount of the Funds held by Le~der is not sufficirnt to pay the escrow items when ~ue, Bonower shall pay to I.ender any r amount nec~sary to make up t6e deficiency in one or more payments as requirod by I.ender. Upon payment in full of all sums secured by this Secnrity Instrument, Lender snal! promptly refund to Borrower ; any Funds held by I.ender. If un3er paragraph 19 the Property is sold or acquir~ by Lender, Lender shal! apply, no later than immediately pr'.~r to the sale of the Property or iis acquisiiion by Lendcr, any Funds held by Lender at the time of ~ application as a creclit against the sums secured by this Security lnstrumtnt. ~ 3. Appllcation of Paymenta. Uniess applicable law provides otherwise, all payments received by'Lender under ~ paragraphs 1 and 2 shall be spplied: first, tu lat~ charges due under the Note; second, to prepayment charges due under the Note; third, to amounts payable under paragraph 2; fourth, to interesl due; and last, to principal due. t 4. (-'bar84s; Li~eas. Borrower shall Qay a!1 tsxes, assessments, chsrges, fines snd impositions attributable to the Property which may attain priority over this Security Instrumtnt, and leasehold payments or ground rents. if any. Bonower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Bonower shal! ` pay them on time directly to thE person owed payment. Bonower shall promptly furnish to Lender all notices of amaunts to be paid under this paragraph. If Borrowtr makes these payments directiy, Bonower shall promptly furnish to Y.ender ~ receipts evidencing the payments. i Borrower shall promptly discharge any lien v~rhich has priority over this Socurity Instrumen: unless Borrower: (a) agras in writing to the payment of the obiigaiion secured by the litn in a manner accegtable to Lender; (b) contests in good faith the lien by. ar defends against rnforcement of the li~ in, legal proceedings which in the Lender's opinion operate to prevent the rnfarcemtnt of the lien or forf~iture of any part of th~ Property; or (c) secures from the holder of the lien an t agreement satisfactary to Lender subordinating the lien to this Socurity Instrument. If L,ender determines that any pan of ~ the Property is svbject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a ~ notice identifying the lien. Bonower shall satisfy the lien or take one or more of the act~ons set forth above within 10 days ~ of the giving of notice. ~ S. Hazard Insw~ance, Borrower shall kcep the improvements now existing or hereafter erected on the ~'roperty ~ insured against loss by fire, hazards iacluded within tha ttrm "extet~ded 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. Tne insurance carrier proveding the insurance shafl be chosen by Bonower subjoct to L.ender's approval which shall not be ~ unreasonably withhda. All insurance policies and renewals shall be acceptable to L,ender and shalt inciude a standard mortgage etause. ~ Lender shall have the right te hold the policies and renewals. If Ixnder requires, Borrower shall promptly give to I,ender g all receipts of paid premiums and reneeva! notices. In ~he event of loss, Borrow~r shall give prompt notice to the insurance ~ carrier and Lendor. Lender may make proof of loss if not made promptly by Bonower. ~ Unless Lender and Borrower otherwise agrce in writing, insurance proceeds shall be applied to restoration or repair ~ of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the rextoration or repair is noi economically feasible or Lender's security wouid be lessen~i, the insurance procceds shall be ' apptied to the sums secured by this Security Instrnment, whether or not then due, with any eacess paid to Borrower. If Bonawer abandons the Property~ or does not answer within 30 days a notice from Lender that the insurance carrier has o~'ered to settle a claim, then Lender may coUect the insura.~ct proceeds. Lender m~y use the proceeds to repair or restare the Property or to pay sums secured by this Sxurity Instrument, whether or not then due. The 30-day per.od will begin when the notice :s given. Uniess Lender and Borrowcr otherwise ~sgree in writing, any application of proceeds to principal shall not eatend or postpone the due date of ihe monthly pa~+ments referred to in paragraphs t and 2 or change the amuunt of tlie payments. If under paragraph 19 the Property is acquircd by Lender, Borrower's right to any insurance policies and procceds resulting fsom damage to the Property prior to the acquisition shall pass to Lender to the eztent of the sums secured 5y this Security Instrument immediately prior to the acquisition. 6. Prtsenation and Mainteagnce ~f Properq, I.esse6olds. Borcower shal~ not destroy, damage or sebstantially change the Property, allow iht Property to ~ettriorate or commit waste. If this Security Instrument is on a leasehold, Borrower shall comply with the provesions of the leas~, and if Bonower acquirGS fce title to +the Praperty, the ieasehold and fce tide shail not merge uniess Len~er agroes to the merger in writing. 7. Protectioa of I.ender's Rights in the Property; Mortgage Insnrance. If Bonower fails to perform che covenants and agreements containod in this Seeurity Instrument, or the~e is a legal proceeding that may significansly affect Lender's rights irt the Property (such a~ s procoeding in bankruptcy, probate, for condemnation or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protxt the valut of the Froperty and Ixnd~r's rights in the Property. Lender's actions may include paying any sums sccured by a lien which has priority over this Security Instrumtnt, a~+pearing in court, paying reasonable attarneys' fas 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 Lender under this paragraph 7 shall become additional debt of Bonower secured by this Security Instrument. Unless Borrower and Lender agr~:e to other terms of payment, these amountsshall bear interest from the date of disbursemrnt at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. - ~ ~~9 ~ 9~9 ~o _ . _ - - ~ ~ - - ~ - ~ - . . _ _ . - - _ . _ ._~v ~ ,