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Home My WebLink About0916 UNIFORM COVENAN?S. 8orrower and Londer covenant and agree as follavs: 1. Ph?m~nt o! P~indRal ~nd Int~rN~ P~p~aymatl Nnd Lat~ Charp~. Barawer sha~i prompty pay when due the principal of and interest on the debl evidenced by the Note and any prepayment and late cha~ges due under ihe Note. 1 Funda for Taoc« and In~unnar. Subjed to appUcable law or to a vrritten waiver by Lender, E3orrower shalt pay to Lender on the day moniMy payments are due under the Note, u~~ the Note is paid in fuN, a sum ("Funds") equal to one-twelfth of: ( a) ~ yearly taxes and assessments which may attein priority over tNs Securiy Instrumenl; (b) yearly {easehotd payments or ground ~ rents on the Propetty, if any: (c) yearly hazard tnsu~anoe p~emiums; and (cn yeary mortgage inswance premi~fms, if any. These items are called "escrow items." Lender may estimate the Funds due on the basis of cur~ont data and reasonable estimales ot tuture escrow iiems. ' The Funds shall be held in an institutbn the deposits or accounts ot which are insured or guaranteed by a federal or state agency (including Lender d l.ender is such e~ instituCpn). Lender shall apply the Funds to pay the esaow Rems. Lender may not cha~ge for holding and appy+ng the Funds, analyzing the acoouM or veriying the escrow ~tems, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and lender may egree in writing that ~ interest shall be paid on ihe Funds. Unless an agreemenl is made or applicable law requKes inter~;t to be paid, Lender shall not be required to pey Barower any inte~est or earnings on ihe Funds. Lender shall glve to Borrower, without charge, an annual aCCOUnting of ihe Funds showing cxedits and debits tothe Funds and the purpose for which each debit tothe Funds was made. The Funds are pledged as ad~tio~al securiry for the sums secured by this Security InStrument. tf the amount ot the Funds hetd by Lender, together with the future moMhly payments of Funds payable prior to the due dates oi the escrow items, shaq exceed the amourn required to pay the escrow items wheri due, the excess shall be, at Borrower's option, 'I either prompty repaidto Borrower o~ creditedto Borrower on monthly payments of Funds. It the amouM of the Funds held by lender ~ is not sutiicient to pay Ihe escxow items when due, Borrower shall pay to Lender any amount necessary to make up the defic+ency in ~ one or more payments as required by Lender. ~ Upon payment in tull of all sums seCUred by this Security Inst~ument, Lender shall prompty retund to Borrower any Funds held by Lender. If under paragraph 19 the Property is sdd or acquired by Lender, Lender shall appy, no later than immediately pria to the sale of the Pioperty or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Security Instrument. 3. Appllption oi Pa~lm~t~. Unless applicat~e law provides oih~wise, all payme~ts received by Lender under - peragraphs 1 and 2 shall be applied: fi?st, to late charges due under the Note; seoond, to prepayment charges due under the Note; ihird, to amounts payaMe under paragraph 2; tourth, to interest du2; and tast, to pr~apal due. . 4. CharQa; Llans. Borrower shall pay a11 taxes, assessments, charges, fines and impositions. attributable to the Property which may attain prior'ity over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these obligations in the manner provided in paragraph 2, or ii nd paid in ihat manner, Borrower shall pay them on time direclly tothe 3 person owed payment. Borrower shall promptly (urnish io Lender alt notices of amounts tobe paid under this paragraph If Borrower makes ihese payments directty. Borrower shall prompty furnish to Lender receipts evidencing ihe payments. Borrower shall promplty discharge any lien which has priority over this Security Instrument untess Borrower: (a) agrees in 1 writing to the payment of the obligation secured by the lien in amanner acceptable toLender: (b) contests in goodfaiththe lien, by or defends against enlorcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent theeniorcement oi the Iien or forieiture of arry part of the Property; or (c) secures from the holdef of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part o( lhe Property is subject to a lien which may attain priaity over this Securiry Instrument, Lender may,give Borrower a notice identifying the lien. Borrower shaU satis(y the lien or ! take one or more of the actions set forth above within 10 days of the giving of notice. ; 5. Huard InsunnCe. Barower shall keep the improvements now existing or hereafter erected on the Property insured ; against loss by tire, 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 (or the periods that Lender requires. The insuran~e carrier ~ providing the insursnce shall be chosen by Borrower subject to Lender's approval which shall not be unreasonaby withheld. All irisurance policies and renewals shall be acceptable to Lender and shall indude a standard mortgage dause. lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. In the eve~t of loss, Borrower shall give prompt notice to the insurancecarrier andLender. Lender . may make proof ot loss N not made promptly by Borrower. Untess Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair oi the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. lf the restoration or ~ repair ~ not economicafly feasible or Lender's security would be lessened, the ~nsurance proceeds shall be apptied to the sums secured by this Security Instrument, whether or no! ttten due, with any excess paid to Borrower. If Barower abandons the Property, or does not answer within 30 days a notice trom Lender that the insurance carrier has offered !o seltle a claim, then Lender may collect the in$urance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by ihis Security Insirument, whether or no1 then due. The 30-day period will begin when 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 t and 2 a change the amount oi the payments. It under paragraph t 9 the Property is acquired by Lender, Barower's right to any insurance policies and proceeds resulting (rom damage to the Properry prior to ihe acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediatey pria to the acquisition. 6. Pra~rvstlon and IlAifntsnance of Property; L~s~eholds. Borrower sha11 not destray, damage or substantially change lhe Property, allow ihe Property to deteriorate or commit waste. I( this Security Insirument is on a leasehold, Borrower shall compty with the provisions o( the lease, and if Borrower acquires fee title to the Prop~ty, theleaseholdand feetitleshall not merge unless Lender agrees to the merger in writing. 7. Protectlon of ~end~rs ~Ights In the Property; Mon~ape Insurance. If Borrower fails to pertorm the covenants and agreements contained in this Security Instrument, or there is a legal proceedingthat may significanlty affect Lender's righls in the PropeRy (such as a proceeding in bankruptcy, probate. (or condemnation or to enforce laws or regulalions), then Lender may do and pay lor whatever is necessary to proted the value of the Property and Lender's rights the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Securiry Instrument, appearing in couA, paying reasonable i attaneys' iees and entering on the Property to make repairs. Although Lender may take action under this p~ragraph7. Lender does ~ not have to do so. • Any amounls disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Security Instrume~t. Unless Borrower and Lender agree to other terms of payment, these amounis shatl bear interest from the date of . , disbursement at the Note rate and shall be payable, with iNerest, upon notice from Lender to Borrower requesting payment. ~0 5~ t ~~7) ~ v~.~w, d~ e4 ~.r e. ~.w aePaw p« aw «neoQ? vc - : ~ . . ~ .:,-'R~ ~ .~K_-..'~::~. ~+-~.~.~it_-x~-.+.ai . R _ - . . . . . - _ n c _i~.Yb~_ . , ~ ~ i; , r - ~ ; _ . . _ _ ' ~