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Home My WebLink About0952 ~ ~ : ~ i UNIFORM COVENANTS. Borrower and LendtP covcnant ar?d agra as follows: ~ l. PJ~ymeAt oi Pr[uCipal 1uld Iate~l~h Pc~p~yuttat ~ea. Borrower shall promptly pay when due the principal of and i~terest on the dcbt cvide~ced by the Notc and any prepayment and tate cha~gcs due under thc Note. 2. ~ a d s for Taxa an d Iwuraaee. Subject to spplicable !aw oe to a written waiver by Lender. Borrower shall pay to Lender or~ the day monthly payments are due under the Note. until the Note is paid in full, a sun~ ('•Funds") oqual to one-twelRh of: (a) y~arly taxes and assessments which may attain priority over this Sccurity lnstrument; (b) yearly lcasehold payments or ground r~nts on the Property, if any; (c) yearly hazard insurana premiums; and (d) yearly mortgage insurance pnmiums, if sny. These items are callod "esccow itcros." L,ender may estimate the Funds due an the basis of current data and reasonabte estimates of future escrow items. ` The Funds shal! be held in an institulion the deposits or accounts of which are insured or guarsnteed by a foderai or state agency (including Lender if Lender is such an institution). Lender shall appiy the Funds to pay the escrow items. Lender may not chsrge for holding and applying the Funds, analyzing the aceount or verifying the escrow items~ unless I.ender pays Borrower intcrest on the Funds and applicablc law permits Lender to make such a chargt. Borrower and Lender may agra in writing that interest shall be paid on the Funds. Unless an agramrnt is made or applicable law ~oquires interest to be paid, Lcader shal! not be required to pay Borrower any interest or earnings on the Funds. Lender ' shall give to Honower. without charge, an annual accounting of the Funds showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledgod as additional securitv for the sums secured bj+ this Socurity Instrument. ~ If the amount of thc Funds held by Lender, together with the future montt~ly payments of Funds payable prior to thc due dates of the escrow items, shall exce~d the amount requirod to pay the escrow items when due~ the excess shall be. at Borrower's option, e~thcr promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the amount of the Funds held by Lender is not sufficient to pay the escrow items when due~ Borrower shall pay to L.ender any amount necessary to make up the deficiency in one or more payments as roquired by Lender. Upon payment in fult of all sums secured by this Security Instrument, Lender shall promptly refund to Bonower any Funds held by Lender. If under paragraph I9 the Property is sold or acquired by Lender~ Lender shall apply, no later than immediately prior to the salt of the Property or its acquisition by Lender, any Funds held by Lender at the time of application as a crodit against the sums securod by this Security Instrument. 3. AppllaiNon ot Payd~enta. Unless applicablo law provides otherwise~ alt payments received by Lender under paragraphs 1 and 2 shall be applied: first~ to tate charges due under the Note; second, to prepaymeat charges due under the Note; third, to amounts payable under paragraph 2; fourth, to interest due; and Iast, to principal due. 4. Charges; Lieas. Honower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which may attain priority over this Security Instrument, and leasehold payments or ground rents. if any. Horrower shall pay these obligations in the mann~r providod in paragraph Z~ or if not paid in that manner, Borrower shall pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts sa be paid under this paragraph. If Borrower makes these payments diroctly, Bonower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security tnstrument unless Bonower: (a) agrces in writi~g to the payment of the oblig~tion socurod by the lien in a manner acceptabte to I.ender; (bj oontests in good ~ faith the lien by. or defends against enforcement of the tien in~ legal procoodings which in the Lender's apinion operate to ~ prevent the enforcxment of the lien or forfeiture af any part of the Properiy; or (c) secures from the holder of thr lien an ~ agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any pari of the Property is subject to a lien which may attain priority over this Security Instrument. I.ender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of tht actions set forih above a+ithin IO days of the giving of notice. • S. Hazard Iasuraace. Borrowcr shali kcep the improvements now eaisting or hereafter erected on tho 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 in the amounts and for the periods that Lcndtr requires. The insurance carrier providing the insurance shall be chosen by Borrower subjoct to I.ender's approval which sha11 nat be unreasonably withhetd. All insurance poficies and reneaals shgl! be acceptable to Lender and shall include a standard mortgage clause. Lender shai) have the right to hold the policies and renewals. If Lcr?der requires~ Borrower shall promptly give to Lendcr all reeeipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Bonower. Unless L,ender and Borrower ot6erwise agree in writing~ insurancc~ pr~c~eds shal! be applied to restoration or repair of the Property damagod, if the restoration or repair is a;onomica!!y feasible and Lender's security is not less~ned. If the restoration or rcpair is noi economically feasible or Lender's socurity would be lessened. the insurance proceods shall be applied to the sums secured by this Security Instrument, whether or not then due. with any excess paid to Borrower. If Borrower abandons the Property. or does not answer within 30 days a notic~ from Lender that the insurance carrier has otferod to settle a claim, then Lender may collect the insurance proceods. Lender may use the Procoeds to repair or resiore ~ the Peoperty or to pay sums securod by this Security Instrament. whether or not then due. The 30-day period will begin when the aotice is given. Unless Lender and Borrower otherwise agra in writing, any application of proceods to principal shall not extend or postpone the due date of the monthly payments reierred to in paragraphs 1 and 2 or change the amouni of the payments. If undcr paragraph 19 the Property is acquired by Lender~ Bonower's right to any insurance policies and procceds resulsing from damage to the Property prior to th~ acqu~sition shall pass to Lender to tht exient of the sums socurcd by this Security Instrumrnt immodiately prior to the acquisition. I 6. Preaenatioa aed Mdntenance of Property; Leaaeholda. Bortower shail not destroy, damage or substantially i change the Propecty, allow the Property to deteriorate or commit wasta If this Socurity Instrument is on a leasehotd, ~ Bonower shall comply with the provisions otthe lease. and if Borruwer acquires foe title to the Property. t}ie lcasehold and fa title shall not merge unless Lender agras to the merger in writing. ~ ' 7. Protect~oA ot I.euder's RI~b in the Property; Mortgsge Iasuraace. If Borcower fails to perform the ~ covensnts and agraments containtd in this Security Instrument, or then is a legal precooding that may significantly attect E~ii Lender's rights in the Property (such as a procoeding in bankruptcy. probate~ for condemnation or to enforce taws or ~ j rcgulations)~ thm Lender may do and pay for whatever is nocessary to proteet the valae of the Property and Lender's rights ~ in the Property. Lender'a actions may include paying any surtts socueed by a lien which hss priority over this Security Instrument, appearing in cQUrt, paying reasonable attorneys' tas and entering on the Property to make repairs. ~?lthough w Lender rr~y take action under this paragraph 7, Lrnder doea not have to do so. ~ Any amounts disbucsed by Lender under thia parngra~ph 7 ahall bocomo additionat debt of Borcowsr securod by tbis ~ Security Instrument. Unlcss Borrower and Lender agra to other terms of payment~ these unounts shall beu interat from ~ ~ the date of disbursemrnt at the Note rate and shall be payable, with interest. upon: noiice from Lrnder to BorroMer ~ requeating payment. t f ~ . $~Q522 Pa~l ! 46 ~ . , - - r _ - ~r . - , - _