The URL can be used to link to this page

Home My WebLink About0996 ' 1lNIFORM CO'VENANTS. 8orrovrer and Lender covenanl and ay~ee as tollows: P~SR~t a P~k~CbM ~d Mfb~~st; Pr~p~m~M and l.st~ Chsrqq. 8orrower shall promptly pay when due the principal of and interest on the debl evide~ced by the Note and arry prepayment and late charges due under the Note. 2• Fwbs br TIucN ahd Insur~~c~. Subject to appNcable law or lo a wriften waiv~er by Lender, Borrower shall pay to Lender on the day monthy payments are due under the Note, until the Nole is paid in futl, a sum ("Funds") equal to one-M~elfth ot: (a) y~early texes and assessmenta which may attain priority orrer this Security Instrument; (b) y~ea?ly leasehold payments a ground rents on the Property, if ami; (c) yearly haza~d insurance premiums; and (d) yearly morigage insurance premlums. if any. These items are called "escrow items" Lender may estlmate ihe Funds due on the basis ot current data and reasonable estimates ot future escrow items. ~ The Funds shall be held in an institution the deposits or accounts of which are insured or guaranteed by a federal or state age~cy (including Lender ii Lender is such an institutton). Lender shall appty the Funds to pay the escrow items. Lender may not charge for holding and apptying the Funds, analyting the account or ve?iying the escrow items, unless Lender pays Borrower inte~est on the Funda and applicable law permits Lender to make such a charge. Bor~ower and lender may agree in writing that inte~est shaU be paid on the Funds. Unless an agreement is made or applicable law requires intereat to be paid, Lender shall not be required to pay Borrower any interest or eamings on the Funds. Lender shalt girre to Borrower, without charge, an annual accounting of the Funds showing credits and debits to ihe Funds and the purpose for whkh each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by thls Security Instrument. If the amount of the Funds held by Lender, together with the iuture monthly payments of Funds payable prior to the due dates of the escrow items, shall excesd the amount required to pay the escrow items when due, the excess shall be, at Borrower's option, efther promptly repaid to Borrow~er or credited to 8or~ower on monthly payments of Funds. If the amount of the Funds held by Lende~ is not sutficient to pay the escrow items when due, Borrower shall pay to Lender any amount necessary to make up !he deficiency in one or more payments as required by Lender. Upon payment in fuli of ati sums secured by this Security Instrument, Lender shal! prompdy refund to Borrower any Funds held by tender. ff under parag~aph 19 the Property is sold or acquired by Lender, lender shaU apply, no later than immediately prior to if~e sale ot the Property 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. j 3. AppHcadon of Payments. llnless applicable law provides othe?wise, all payments received by Lender under pa~agraphs 1 and 2 f shall be applied: ~irst, to late charges due under the Note; second, to prepayment charges due undet the Note; third, to amounts payable ~ under paragraph 2; fourth, to interest due: and I~si, to principal due. ; 4. Cha~yes; L3sns, Borrower shall pay aN taxes, assessments, cha~ges, fines and impositions attributable to the Property which may ~ attain prioriry ov~er this Security Instrument, and teasehold payments ar ground rents, if arry. Borrow~r shal! pay these obligations in the i manner provided in paragraph 2, or ii not pa~ in that manner, Borrower shall pay them on time directly to the person ow@d payment. ~ 8orrow~er shal! promptly turnish to Lender a!I notices of amounts to be paid under this paragraph. If Borrow~er makes these payments ~ directty, Borrower shall prompUy furnish to Lender receipts evidencing the payments. ~ Borrower shall promptly discharge any lien which has priority over this Secur'dy Instrument unless Borrower. (a) agrees in writing to ~ the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good taith the lien by, or detends against enforcement of the lien in, legal proceedi~gs which in the Lende~'s opinion operate to prevent the enfarcement oi the lien or toriefture of a?ry part of the Property; or (c) secures hom the holder of the lien an agreement satisfactory to Lender subo~dinaGng the lien to this Security Instrument. It Lender determines that arry p~?rt of the Property is subject to a lien which may attain priority over this ; _ i Security Instrument, Lender may giae Borrow~er a notice iaentifying the lien. Borrower shall satisy the lisn or take one or more of the ~ actions set forth abov~e wiihin 10 days of the giving of notice. ~ S. Hazard lnsurance. Borrower shall keep the improvements now existing or hereafter erected on the Properiy insured against loss i _ 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 Lender requires. The insurance carrier providing the insurance shall be chosen by Borrow~er sutHect to Lender's approval which shall not be unreasonabiy withheld. All insurance policies and renewals shall be acc:eptable to Lender and shal( indude a standard mortgage Gause. Lender shall have the right to hold the policies and renewats. li Lender requires, Borrav~er shatl pramptly giv~e b Lender all receipts of paid premiums and renewat notices. In the eMent oi bss, Borrow~er shall giv~e prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Bbrroa~er. - Unless Lender and Borrower otherwise agree in writing, insu~ance proceeds shall be applied to restoration or repair of the Property damaged, if the restoraGon or repair is economically feasibte and Lender's security is not lessened. If the restoration or repair is not economicalls~ feasible or Lender's security would be lessened, th8 insurance proceeds shali be applied to the sums secured by this ; Securiry Instrument, whether or not then due, with arry excess paid to Borrow~er If Borrower abandons the Property, or dces not answer ~ within 30 days a notice (rom Lender that the insurance carrier has of(ered to settle a ctaim, then Lentier may coltect the insurance proceeds. lender may use the proceeds to repair or restore the Property ar to pay sums s~ecured by this Security Instrument, whether or not then due. The 30-day period will begin when the notice is giwen_ Unless Lender and Borrower otfierwise agree in writing, ary applicalion 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 ihe { Property is acquired by Lender, Borrowers right to any insurance policies and proceeds resulting from damage to the Properry prior to , the acquisition shall pass to Lender to ihe entent of U~e sums secured by this Security Instrument immediately prior to the acquisition. ; 6. PreserrMjon and Meht~os ot Property; L+wseholds. Borrower shall not destroy. damage or sUbstantialy change the Property, ; allow the Property.to deteriorate or commit waste. If this Security Instrument is on a leasehold, Borrower shatl compfy rrifh the provisions ~ of the lease, and if Borrow~er aoquires tee title to the Property, the teasehold and fee title shalt not merge unless Lender agrees to the ~ merger in writing. ~ 7• Protectio~ of Lenders ftiqhn in fhe Pnoperty; Mo~s~e Irtwrsnoe. N Borrower tails to perlorm the covenants and agreements ~ contained in this Security lnstrument, or there is a legal proceeding that may significanUy affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, tor condemnation or to enforce laws or regulations), then Lender may do and pay tor whatever is necessary to proted the value ot the Property a~d Lender's rights in the Property. Lenders actions may include paying arry sums secured by a lien which has priority o~er this Security Instrument, appearing in court, paying reasonable attorneys fees and entering on the P~roperty to make repairs. Nthough Lender may take action under this paragraph 7, Lender does not have to do so. Arry amounts disbursed by Lender under-this paragraph 7 shall become additional debt of Borrawer secured by this Securiry Instrument. Unless Borrow~r and Lender agree to othe~ terms o! payment, thes~ amaunts shall bear interest from the date of disbursement at the Note rate and shall be payabte, with interest, upon notice from Lender to Borrow~er requesting payment. ; ~ ~ gooK 541 PacE ~9b P.q. ~ a. FLORIDA-Stnql~ Famify-FNMA/FLHMC UNIFORM INSTRUMEMT ~p~ ~p~p ~yp liF F150025 7/d1 - r. - . . . . _,~_._..~_.~~-~--..A~~---+~,.-r- ra°f+C'~7jSia~?~^~. . __v -.=:.cT' ' .~'+"~~F.~°: -