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Home My WebLink About0917 UNIt'URM CovENnr.TS florrower and Lcnder coi~enant and agrt~ as follows: I. Payment of Principal and ~nieresh Prepayment and Late (hsrge~. Bvrraw•er shal) prompfly pay when dut the principa) oland interest on the debt evidrnced by the Note and any ~repayment and late chargcs due under the Note. 2. Funds for'Paxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on tht day mc~nthly payrq~nts are due under thG Note, until the 1Vote is paid..in full, a sum ("Funds") equal to one-twelfth of: (a) }~early t3xes and asscssments which may attain priority over this Security Instrun~ent; (b) yeariy ieasehotd paymenis or ground rents on the Property~ if any; (c) ytarly hazard insurar.ce premiums; and (d) yearly rriortgage insurance premiums, if any. Thest items are caUed "escrow items." Lender ma}: estimate the Funds due on the basis of current data and reasonable estimates of fu!ure escrow items. The Funds shall be held in an institution the deposits ~r accounts of whic~ are insurrd or guarantccd by a fcderal or state age~ncy (including Lender iC [,ender is such an institution). Lender sha!1 appty the Funds to pay the escr~a~ itcros. Lender may not charge f~r holding and applying the Funds, analyzing the accoun~ or verifying the escrow items, unless Lender pays Borrower interest on the Funds and applicable lave permits I,ender to make such a charge: Borrower and Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is madt or applicabie law requires intercst to be paid, Lender shall not be reguirea to pay Horrower any interest or carni~gs on the Funds. L,ender shall give to Borrower, without charge, an annual accounting of the Funds shawing c~~edits and debits to the Funds and the purpose f~r which each debit to th~ Funds was made. The Funds are plcdgetf as additional security for the sums xcured by this Security Instrument. If the amount of the F~nds held by Lender, together with the future month{y payments of Funds payabfe prior to the due dates of the escrow items, shall ezceed the amount required to ~ay the escrow items wlien due, the excess shalt be, at Barrower's option. either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the amount of the Funds held by I.ender is not sufficient to pay the escrow items when due, Borrower sfiafl par to Lender any amount necasary to make up the deficiency in one or more payments as required by I.e~der. _ Upon payment in ful! of all soms secured by this Security Instrument, I,tnder shall promptly refund to Borrower anv Funds hcld by L,ender. lf under paragraph 19 the Property is sold or acquired by Lender, Lender shali appty, no later than immediatety prior to the sale ot the Property or its acquisition by Lender. any Funds held by Lend~r at the ti;ne of application as a credit against the sums secured by this Security Instrument. 3. Appiication ot Payments. Unless applicable law provides otherwise, all paytments received by Lender under paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to ptepayment charges due under the Note; third, to amounts payable under paragraph 2; fourth. to interest due; and last, to principa! due. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which may attain priority over this Security fnstrum~nt. ~nd 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 an time directly to the per~on owed payment. Sorrower shsll pror.~ptly fur~ish ¢o Lender all notices of amounts ~ to be paid under this paragraph. [f Borrower makes these payments directly. Borrower shall promptly furnish to Lender receipts evidencing the payments. ~ Borcower shall prom~tly discharge any lien which has priority over this Security Instrument unless Borrower: {a) ~ agre~s ir~ writing to the payment of the abligation secured ~+y the lien in a manner acceptable to I.ender; (bj contests in good ~ iaith the lien by, or dtfends against enforcement of the lien ir, legal procee.iings which in the Lender's opinion operate to prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the hotder of the lien an agreement satisfactory to C.ender subordinating the tien to this Security Instrument. lf Lender determines that any part uf tt~e Property is subject to a lien which may attain priority over this Security lnstrument. L,ender may give Borrowe~ a notict identifying the lien. Borrower shall satisfy the lien or take one or more ot the actions set forth above wi:hin 10 days ~ of the giving of notice. , S. Huard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Preperty insured against loss by fire, hazards included within the term "cxtended coverage" and any other hazarcls tor whech Lender requires insurance. This iRSUrance shal! be maintained in ths amounts and tor the periods that I.ender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shal) not be unreasonably withheld. , All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage elause. Le~der shail have the right to hold the poficies and renewais. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notic~. 1n the event c,tloss, 9orrower shall give promr~t notice to the insurance carrier anci Lender. I,ender may make proof of loss if not made promptly by Borrower. Unless Lender and Bvrrower otherwise agree in ariting, insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoration or repair is economically feasible and I.ender's security is not lessened. If the restoration or repair is not ecanomically feasible or Lender's security woutd be lessened, the insurance proceeds shal! be applie~ to the sums secured by this Security Instrument, ahether or not then due, with any eatcess paid to $orrower. tf Borrower abandons the Property, or does not answer within 30 days a notice frem L.ender that the insurance 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 [nstrument, whether or not then due. The 30-day period wil( begin ~ v~hen the notice is given. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If under paragraph 19 tht Property is acquired by L.ender, 8orrower's right to any insurance policies and proceeds resulting from damage to ihe Property prior to the acquisition shal; ~,ass to L.ender to the extent of the sums secu~ed by ihis Security Instrument immedia!ely prior to the acquisition. 6, Preservation and Maintenance of Property; Leaseholds. Borrower shall nc~t destroy, damage or substantiatly change tt~e Property, allow the Property to deteriorate or eommit waste. 1f this Security Instrument is on a leasehold, Borrower shall comply with th~ pravisions of the lease, and if Borrower acquires fee title to the Property, the Icasehold and fee title shall not merge unless Lender agrees to the merger in writing. 7. Protection of Lender's Rights in the Property; ~tortgage Insurance. If Borrower faiis to ptrform the covenants and agrtements contais~ed in this Security Instrument, or there is a lega) proceeding that r~ay significantly affect L.ender's rights in the Property (such as a proceeding in bankruptcy, probate, for condcmnation or to enforce laws or regulations), then Lender may do and pay for whatever is neGessary to protect the value of the Property and L.ender's rights in the Property. I.ender's actions may include paying any sums secured by a lien which has priorily over this $ecurit~ Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Atthough Lcnder may take action under this paragraph 7, Lende~ does not have to do so. Any amounts disbursed by Lender under this ~aragraph 7 shaU become additional debt of Borrower secured by this Security Instrument. Untes~ Bo~rower and Lender agree to other terms of payment, these amc~unts shall bear intere~t fsom the date of disbursement at the Note rate and shall be payable, with interest. upon notice ~rom Lender to ~orrower requesting payment. _ 5o~x510 ~~~E 91? ~ . _ . _ . . _ . _ . ,a. . j Ky2, 'w - c„'"~>^^~KY~:~+x ^,~,'w.'> sY ~k:~rz2'~~i r~ta