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Home My WebLink About0935 ~ ~ ~~J~? ~ a~ y 7I ,~~NI~ORM COVENANTS. 8orrower and Lender cov~nant and agree a8 folloWs:~ "1. PAym~rtt of Pdndp~l sn, intemt; Pr~paym~nt'i~nd L~te Char~s. Borrower shall promptly pay when due the princlpal of and inter~st on the ~ebt evidenced by the~N~te and any prepayrrtient and late charges due under the Note. ~ 2. Fund: tor Ta~es~snd Insu~~~~s. Subj$ct to appif,gabte law artq ~a writte~ waiver by lender. Borrowershall pay to lende~ on the day "month~Y payments a?e due unde~ the~Note, until:tii~ Nvte is paid in full, a surt~ ("Funds") equal to one-twelfth of: (a) yearly taxes and assessments whiCh'may~attain pri0rity over this $ecuritylnstrument; (b) yQarly leasehbld payments or grou~ld rents on the P~4perty, ff 8~ny; (c) yearly hazard insurancep~emiums; and (d) yearly mortgage insurance premiums, if any. These items a~e called "escrow Items." lender may estlmate the Funda due on the basis qf cut'rent data and re~sonable 8~tirrtates of tutu~e escrow items. The Funds`shail 66 heid irt att irystitution the deposits o~accounts of which are insured or guaranteed by e federal or state agency {i,nCluding Lender if Lender is su~Ti an institution): Lender shatl apply the Funds to pay the escrow items. Len de~ may not ch~~ge for holding ar~d appiying th . Funds, analyzing the account. or verifying the escrow items, uniess Lendec pays BorrOWer`inte~9~t~on the Funds a~d ap Iicable lavr ermits Lender to make such a charge. Borrower and lender may agrqe i~ti Writing that interAst shall be ~aid on the ~unds. Unless an agreement is made or appiicable law requ~res tnterest to be paid, LendeC Shall`not be required to pay Borrower any Interest or earnings on the Fund$. Lender ~Shall give to Borrower, wlthout charge, an annual accounting of the Funds showing credits and deblts to the Funds and the puCpos~ for which each debit to the Funds was mada, The Funds are pledged as additivnal security for the ~ums secured by th~$ SecuriYy Insiru~ent. , If the amau~t of the fiunds helil by l.ender~ togetfier with the future monthly payments of Funds payabie prior to _ the due dates of the escrow ffems, sh~ll exceed the amount required to pay the escrow items when due, the excess shali be, at 8o~rowe~'s option~ either p~oinptly repaid to Borrowe~ or cr~its~ t,o 8orrower on monthiy payments oi ~unds. If the amount of the ~ut~ds held by Lender is not sufficient to pay tfie esC~'ow items when due. Borrower shail pay to Lender any amount necessary to make up the deflclency In,on~ or m'pre payments a~ ~equired by Lender. tlpon pay ment in full of all sums secured by thia.Security'Instryrr~ent~ tender sh~ll promptly ~`~fund to Borrower any Funds held by Lender. tf und'er paragraph i9 the Propertyis soid or acquire~ ~s~ Leneter, Lender shatt appty, rto later than immediatety prio~ to the sale of the P~operty or its acquisition by Lender~ any Funds held by Lender at the time pf 8pplication as ~ credit agalnst the sums seCUred by this Security instrument. 3. Application of Payrr~ents. Uniess appiicable law provides otherwise, all payments ~eceived by Lender under parag~aphs 1 and 2 shail be applied: first, to amounts payable under paragraph 2: second~ to +nterest dus; and last, io principai due. ; 4. Cltalges; Liens. Borrower shall pay all taxeQ. assessments. charges, fines and impositions attributable to the : Property which may attain p~iority over this Security Inst~ument~ and leasehold payments or ground rents. if any. ~ Bo~rowe~ sh81t pay these ob(igations in the manner provlded in paragraph 2, or it not paid in that manner, Borrower ~ shalt pay t~iem on time directly to the person owed payment. Borrower shali promptly turnish to Lender all notices ot amourtts to be paid.urVderthts pa~agraph. If Borrower makes these payme~ts directiy; 8orrowershall promptly furnish to Lender receipts evide~ci~g the payment~. Borrower shalt promptly disch'arge any fien wh+ch h~s prioriry over this Security lnstrument unless 8orrower: (a) agrees In writing to the payment of the 4bligation secured tiy the lien in a manner ac~eptable to Lender; (b} contests in ~ good faith the li8n by, or defends against enforcement of the lien in, legai proceedings which in the Lender's opinion operate to prevetit the enforcement o(the lien or forfeiture of any part of the Propeny; or (c) sec~res from ihe holder of the lien.an agreement satisfaCtory to Lender subordinating the lien to this Secu~ity Instrument. If Lender determines tl~at sny part of 4he Propeny is subject to a lien wfiich may attai~ prio~ity overthis Security Instrument. Lender may give Borrower a notice identifying the lien. Borrower shali satisfy the lien or take one or more of the actions set forth above within 10 days. of the giving of notice. 5. Hazard ln~aranae. Borrot~ver shali keep the improvements now existing or hereafter erected on the Property insured against loss by fire. hazards included within the term "extended coverage" and any other hazards for which Lender requires insurance. This insurance shall be maintained !n the amou~ts and for the periods that Lender ~equires. The insurance carrier providing the insurance sha!! be chnsen by 8orrower sutaject to Lender's approval which shall not•be unreasonably withheld. All insurance policies and renewals shall be acceptable to Lender and s~all include a standard mortgage clause. Lender shall have the right to hold fhe poficies and renewais. If Lender requires. 8orrower shali promptly give to Lender aH receipts of paid premiums and renewa! notices. in fhe event of loss, Borrower shali give prompt notice to the ins'urance carrier and lender. Lendermay make proof of loss if not made promptly by Borrower. Unless ~ender and Borrower otherwise agree in writing, in9urance proceeds shall be applied to restaration or ~ repair of th~ Propehy damaged~ if the restoration or repair is economically feasible and Lender's security is not ; lessened. If' the ~estoration or repair is not economicaily,feasibte or Lenders security would be lessened, the ~ j insurance proceeds shall be appiled to th~ Sumg aecur8d by this Security Instrument, whether or not then due, with I any excess paid tb Borrower. If Bo~rower ab~indor~s the~ f~`roperty. or does not answer within 30 days a notice from ~ ~ ~ehder that the i~surance 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 ot to'pay sums secured by this Security Instrument, whether or not then due. The 30=day pe~iod will' begln when the rtotice _(s given. ~ Unless Lender and Borrower otherwise agree in writing, any appifC~tion of proceeds to principa! shaii not extend or postpone the due date of the monthly payments referred to En paragraphs 1 and 2 or change the amount of the payments. If under paragraph 19 the Property is acquired by. Lender, Bqrrowers right to any insurance policies and proceeds resulting from damage to the Property prior to`the acquisition shall pass to Lenderto the extent of the sums secured by this SeCUrity instrument immediately prior to the acquisition. 6. Presenrstion #nd Il~~int~nsnce of Property; Lesseholds. Borrower shall not destroy, damage or substantialty change the Praperty, allow the Property to deteriorate or commit waste. if this Security Instrument is on a leasehold, Borrower shali comply with the provisions of tF~e leas~, end if Borrower acquires fee titte to the Property, the leasehold and fee title shall not merge untess Lender agrees to.the merger tn writing. - 7. Protectlon of Lender'R RIghb In Ihe Property; Mortyil~e insurance: if Borrower fails to pertorm the covenants - and agreerr~~nts contained in this gecurity Instrument, or there is a le~al proceeding that may significantty aifect Lender'~~rights in the Property (such as a proceeding in bartkruptc~, probate, for condemnation or to entorce laws or regul~tibrts); thBn~Lender may do ~and pay tor.whatever is necessary tq protect the value of th~ Property and l.ender's ' rlghts In the Property. Lender's,actions ?hay include paying any sums secured by a lien whicfi ha~ prioriry over this Security Instrument, appearing in`court. paying reasbnabie attomeys' fees and entertng on the Property to make repairs. Although Lender may take ~ction under this paragraph 7;,l.ender ~does not h~ve to do so. Any amourtts clisburs~d by Lender under this paragr~ph 7 sti`ell becbme aclditional debt Of Borrower secured by this Security~lnstrument. Unless Bo~'ower and Lender agree ta 6ther terms of payment, these amounts shall bear interest irom the date of disbursement at the Note rate and shalf be payabte, with interest, upon notice frorn Lender to Borrower requesting payment. 2 ~fl8~8 ~t48~~ ~ . - - _ • ~ _ ST-~.-:~ _ _