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Home My WebLink About0933 UnI1~ORM CoV[?NAtV'fS. Dorrowcr and l.cndc~ co~~cnant and agrcc as followa: 1. Paymrnt ot t'rincipa! and tntcrcst; PMpAymc~it And I.ate Chary~cs. Bonowcr sh~il promptly pny whc~ duc ~he princiral of and interest on Iho debt cvidcnccd by the Notc and any p~epayment and I~tc charges duo undc~ tho Note. ` Z. Hunds for'1'axcs and Insurancc. Subjcct to ~ppiicAbic taw or to a written waivcr by l.cnder. l3orrowcr shall j pay to I.ender on the day monthiy payments are dee undsr the Note~ until the No/e ia paid in tull. a sum ("Funds') cqunl ta onc•twcfRh of: (a) ycatly taxca and asscssmcnts which may attain prio~ity ovcr this Sccu~ity Instrumcnt; (b) yearly Icasch~~ld payments or g~ound rents on tho ProF~ly. if any; (c) yearly hazard insurance prcmiums; anJ (d) ycariy mortgngc insu~ancc prcmiums, if any. "fhcsc itcros a~c callcd'cscrow itcros' Lcndcr may esdmatc thc t~unds duc on thc hasis of current data and rcasonablc cstimutcs of tuWrc cscrow itcros. 'I~he 1'unds shall bo hcld in a~ insdtution thc dcposits or accounts of whlch are insurcd or guarantecd by a fcdcral or state agency CncluJing I.ender if I.ender is such an institution). l.ender shall apply the runds to pay the escrow items. l.ender ms~y not charge for holding and applying the Funds. analyzing the account or verifying ihe escrow items~ unicss I.ender pays llorrowe~ ioterest on the ~unds and applicable law permits Lender to make such a charge. 13orrower and I.ender msiy s~gree in writing that interest shull be paid o~ the Funds. Untess an agreement is made or applicablc I:~w rcquires inlar~t to bo paid. Lcndcr shall not be rcquired to pay Fiorrowcr any interest or carnings on ~hc I~unds. I.endcr ~ sfiall give to l3orcower~ without charge, an annua! accounting of the funds showing credils and dehits to !he f~unds and tl~e purpose for which each debit to the runds was made. 'The I~unds are pledged as additianal security for ~he sums secured hy ~his Security Instrumen~ - if the amount of the Funds held by l.cnder. togelher with the future monthly payments of Funds payablc prior to d~e due dates of the escrow items. shal) exceed the amount required to pay lhe eserow items when due. the excess shail be. at l3orrowc~'s option, either prompUy repaid to Borrower or credited to Ror~owcr on monthly payments of E~unds. IC thc arnount af ihe runds held by I.ender is nat sulTicient to pay the escrow items whe~ due, 13orrower shatl pay to l.c~idcr any amount necessary to make up the deficiency in one or more payments as required by I.ender. Upon paymcnt in ful) of all sums secured by this Security Instrument, l.ender shall promptly refund to f3orrowcr ~ any i~unds hcld by I.cnder. If under paragraph 19 the Propcrty is sold or acquired by I.ender. 1_ender shall apply. no I~tcr ~ than immediately prior to thc satc of the 1'ropcrty or its acquisiGon by Lender. any t~unds held by Lendcr at the C~mc of applic:+tion as a credit against the sums secured by this Security Instrument. 3. Applieation oi Payments. Unless applicable law provides otherwise, all payments teceived by l.ender under paragraphs I:+nd 2 shall be appiieJ: first, to late charges due under lhe Note; second, to prepayrt~ent ct~arges due under ~I~e Notc; third. to amounts payablc undcr paragraph 2; fourth. to interest dac: and last. to principal duc. 4. Charges; I.iens. I3orrower shall pay all taxes, assessments. charges. fines and imposiGons attributable to the 1'~opcrty which may altain priority over lhis Security Instrument, and Ieaschold papments or ground rents, if any. 12orrowcr sh~ll pay ~t?~c obligaGons in thc manncr provided in paragraph 2, or iC not paid in that manner. Dorrowcr shsdl pay thcm on time dirccUy to thc pcrson owcd payment. Borro~~cr shall prompUy furnish to Lcndcr ~if nodces of amounts to be paid wiJcr tl~is paragraph. If Ilorrowcr makcs lhcse payments dirccUy. Dorrowcr shall prompqy turnish to LcnJcr , rcccipls evidcncing thc paymcn~s. (3urrowcr sh~l) prompUy dischargc any licn which has priority over lhis Sccurity instrumcnt unlcss Borrowcr: (a) agrees in wri~ing to Ihe payment of the obligation secured by the lien in a manner acceptabte to Lender, (b) contests in good faith the lic~ by. or dcCends against entorccmcnt of' the licn in. Icgal proccedings which in the l.ender's opinion opcratc to prevent U~c cnforcement of the lie~ or forfeiture of any part of the Properry; or (c) secures from the holder of thc lien an ; agrcemcnt saGsfactory to Lendcr subord'enating the tien to this Sccurity Instrument. It Lendcr dctcrmincs that any part of k lhe Proprrty is subject to a lien which may altain priority over this Securily 1~"strument. l.ender may give i3orrower a E nolicc id~ntifying Ihc licn. 13orrowcr shall satisfy 1he licn or lakc one or more of thc acGons set forlh abovc within IU days ~ of U~e giving of noticc. ~ 5. Nazard lnsurance. Rorrowcr shall kccp thc improvements now exisGng on c~rcatlcr crectcd on thc Propcrty insured against lass by fire, haiards incluJed wiU~in lhe lerm "extended coverage' and any other harards for which I.enJer requires insurance. 'T~his in~uraoce shall bc maintaincd in the amounts and for the periods that 1_ender requires. '1'I~c insurance carrier providing the insurance shall be chosen 6y I3orrower subject to Lender's approva! which shall not bc unrcasonably withhcld. All insurance policies and renewals shall be acceptabte to [.ender and shatt include a standard n~origage clause. Lendcr shall have the right to hold the policics and renewals. It Lcnder reqaires, Borrower shal! promptly give to Lcndcr all receipLs oT paid premiums and renewal noticcs. !n the event of loss, f3orrower shall give prompt notice to U~e insurance carrier and l.cnder. I.ender may makc proof of loss if not maJe prompUy by I3orrower. Unlcss l.cndcr and t3orrowcr othcnvisc agrcc in writing, insurancc procccds shall be applicd to resloration or rcp:~ir of the Properry damaged, if the restoraUon or repair is economically feasihle and l.ender's security is not tessened. If ~he ' restoration or repair is not economically feasible or t.ender's securiey would be lessened. the insurance proceeds shall be applicd l0 1he sums secureci by this Security Instrumeni, whelher or not then due, with any excess paid to tiorrower. If (3orrowcr abandons ~hc !'ropcrty. or docs nc~t answcr within 30 days a nodcc from Lendcr that thc insurancc carricr h:?s uffcrcd tv sctUc a c)aim. thcn Lcndcr may collcct U~c insurancc procccds. Lcndcr may usc Uic procceds to rcpair or reslorc the I'roperty or to pay sums secured by this tiecurity Inswment, whether or not then due. T~he 30-day period wiN_ begin wticn thc noticc is givcn. - Unless I.endcr and Florrower otherwisc agtce in wriGng. any applicadon of proceeds to principal shall not extcnd or postponc ti~e due datc of the monthly paymenls retcrred to in paragraphs 1 and 2 or change the amounl of thc paymcnts. If under ~?~ragraph !9 the Properry is acquired by I.ender, ~orrower's right to any insurance policies and proceeds resulting from damagc to the Propcrty prior to thc acquisition shall pass to Lendcr to the extent ot the sums sccurcd by this Security In~trumcnt immediatcly prior to thc acquisition. 6. PrCSCrvation and MaintCnAncr. of Propcrty; Lc~scholds. Borrowcr shall not dcstroy. damagc or subsWntia~ly change ~he Property, allow Uie Property ta deteriorate or commil waste. If this Security instrument is on a IeasehulJ, iiorrowcr shall comply wilh the provisions of thc Icase. and if Borrowcr acquires fee tiUc to the Propcrty, the Icasehold and ; fcc GUc shall not mcrgc unlcss I.cndcr agrccs to the mergcr in wriGng. 7. Protecticm of I.endcr s Rights in thc Property; Mr?rtgage insurance. If Borrower fails to perform the covenanLs and agrcemenls conlained in lhis Securily (nstrument, or there is a Iegal procecding tl~at may significantly atTect I.enJer's righGc in the Property (such as a proceeding in bankruptcy. probate. for condemnation or to enforce laws or regutations), tt~en I.ender may do and pay for whatever ia necessary to protect the value of the Property and Lender's right~ in the Property. I,enJer's actions may include paying any sums secured by a lien which has priority over ~his Securiry Instrumcnt. appearing in court. paying rcasonable attorneys' fces and entering on the Propcrty to make rcpairs. Afthougl~ I.endcr may take action under this p:~ragraph 7. I.ender does not have to do so. Any amounlt disbursed by Lender undcr this paragraph 7 shall become additional debt of Borrower secured by tfiis :Sccurity Instrumcnt. Unlc.ss liorrower and I.cnder agree to other terms of payment. these amounLs shall hear interest Gom thc datc of disbursemcnt at thc Note r:~tc and shall be payable~ with interest, upon noticc from l.cnder to I3orro~vcr rcyucsting paymcnt. BaoK5~1 933