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Home My WebLink About0992 ~ . " ~ `i ~ J ~ ~ / ~ 7 ( t , • ~ UNIFORM COVBNANf3. Bormwcr snd I.endec cove~t and agrec a~s follows: . . 1. Payroeat ot Priacipai snd Iateraa P~+e~mtat ~ Y.ste GUsrga. Bormwe~ shall promptly p~y wt~e~ due the principsi of and intereat on the debt evidencod by the Note end sny prepsyment and late charges duc under the Note. 2. F~ t~r Taxe~ Llwt+~roe. ~ 3ub,joct to applicsble !aw or ta ~ written waiver by Lender~ Borrower shall pay , to Lender on tbe day monthly pm~yfiea~s ard d~e under the Note~ until the Note is paid in fidl~ a sum ("Funds") equal to' ~ onz-tw~1Rb of:-. (a) yee~ly t~p' and ~ as~mapts which may ~ttun priority over this Seeurity Instrument; (b) yeArly ~ lcasehold payments or gmund renta _s~ tl~e Propeny~ €f ~ny; (c) yearly hazard insurance premiums; and (d) yrarly € ~ mortgage iasurance prepuue~, if anX.. Th~ ikms ate caUGd "escrow items." Lender may c3timate the Funds-duc on the ~ baais of current data and reasonsble estimate~s~of future escrow Items. , The Funds shall be held in an institution the deposlts or uccounts of which are insurat or guarantad by a foderal or E; state agency (including Lend~r if Lender is such an institution). Lender shall apply ihe Funds to pay the escrow iteme. : Leader may noi oharge for holding and applying the Funds, analyzing the acxount or verifying the cscrow items, unkss ~ . Lendcr pays Borrower interest on the FY~nds and applicablc law permits Lendcr to make such a charge. Borrower and I.ender may agree in writing that interest shail be paid on the Funds. Ualcss an agreement is made or appiicable law ~ requires interest to be paid, Lcnder shall nvt be roquired ia pay Borrower any interest or earnings on the Funds. I.ender ~ shali give ta Barnower. without eharge, an annual accounting of the Funds showing credits and dabits to the Funds and the ~ purptuc for which each dcbit to the Funds was ~aade.~Thc Furtds are pledged as addittonat security for the sums secured by ; this Security Instrument. ~ If the amavnt of the Funds held by Lender, togethtr vKith t4e fuwrc monthly paym~nts af Funds payabla prior to ~ the due dates of the escrow items, shali cxcced Ehe amount required tb pay the escrow items when due. thc excess shall bc~ ~ at Borrower's option~ either promptly repaid to Borrower or credited to Bonower an monthly paymcnts of Funds. If'the t. . amount of the Funds held by I,ender is i~ot aulficient to pay the cscrow items when due, Borrawer sha11 pay to Lendcr any ~ emoimt i~eces.s~ry? to make up the deflcfi~cy in one or more payments as roquirod by. I,ender: ~ Upori paymeat in fi~ll of all sums sscured by this 3ocurity Instrument,. Lender shall promptty'refund to Bonower any Funds held by l.ender, I£ under paragraph-•19 the Property is sold or acquired by Lender; I,cadet s~al1 ~pply, no later than immedi~iety prior to the sale of thc Property or its acq~lisittrnt-by Ltnder, any Funda=held by' Lender at the tima of application ais a credii against the sums secured by this Security In~trerment. • 3:~ Apj?tkattoa bt Payes~ts. ~ Ur~leas appNcable law pmrrldea ot6erwise, a~l payments reoeived by I.ender under ~ ~ paragrspha t and 2 shall be apptied: $rst; to late c~gesiduc'uflder the Note; soovnd, to prep~yment chargos due uhder'thc { Notr, third, to amounts psyabie undcr paragraph 2; fourth, to interest due; and last, to prinoipat due. . f 4• Gtu~rge~ I.i~• Borrower shall pay aU taaea, assessmerita, charges; fines and impositeons atiributable to the Pr~aperty which may'attain priority over this Security Instrument, and leasehold payr~cnts or ground rents, if any. Borrower shall pay these obtigations in the manner provickd 'ut paragraph 2, or if not paid in that manner, Bonower shall ' pay them on time diroctly to the person owed pnymen~ Borrower shali prompdy furnish_ to Lendcr all natices af amounts to be paid under this paragcaph. [f Borrower maices thes~ payments direcily, Borrower shall promptly furnish to Lender i roceipts evidencing the payments. _ , . , , _ . . - - ~ ` Borrower shall promptly discharge any lien which has priority ov~r this Security Instrument unless Horrower: (a) ; agrees in writing to the payment of the obligation socured by the lion in a manner acceptable to I.ender; (b) contests in good ~ faith the tien by~ or defends against,enforcement of the lien in, legal proccedings which in ihe Lender's apinion operate to ~ prevent the enforcement1of t6e licn or forfeiture of sny part of the Property;-or (c)'secures ftom the holder of the lien an agreemant satisfact~ry to Lender subordinatic'tg the lien tb this-S+ecurity instivment: If L~nder determines that any ~rt of the Property is subject ta a lien which may attain priority over this Security-Instre~ment,~ I;ender. may give Bomower a notice identifying the lien. Borrower shalt satisfy the lien ar take one or more of the actions set forth above within 10 days of the giving of notice. - S.' H~a~ Insur~nce. Bonower shalt keep th~ improvements now ezisting or hereafter erectod on the Property insured against loss by fire~ hazards inctuded within the term "extended coverage"and any other hazards for which I.ender requines insurance. This insurance shall be maintained in the amounts and for the periods that I.ender requires. The ~ insurance carrier proriding the insurance~§hall tre chosen hy Bonower subject ta Lender•s approvai which shalf not be ; unreasonabty withhetd. All insurance policie~ ,and renewals shal( be acxeptable to Lender and shall include a standard mortgage ctause. ' Lender shall have the right to hold tht policies and renewals. If Lender requires. Borrower shall promptiy give to I.ender ! aU receipts of paid premiums and renewal notices. In the event of loss. Borrower shall give prompt notice to the insurancc ! carrier an~i Lendor. I.ender may make proof of toss if not made promptly by Bonower. Unless I.ender and Bonower vtherwise agrce in writing, insurance proceeds shatl be applied to restoration or repair ~ of the Property damaged, if ihe restoration or repair is economically ftasible and Lender's security is not lessened. If the ~ , restoration or repair is not economicalty feasible or Lender's security would be lessened. the insurance proceeds shail be ' ( applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If ~ ; Borcower abando4s the Property, or does not an;wer within 30 days a r?otice from Lender that the insurance carrier has ~ offered to settle a claim, then I.ender may coliect tht insuranee proceeds. I.ender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument~ whether or not then due. The 30-day period wilt begin when ihe notice is given. Unless Lender and Borrower otherwise agrce in writing, any application ofproceeds to principal shall not eztend or ~ postpone the due date of the monthly payments referrcd to in paragraphs 1 and 2 or change the amaunt of the paymtnts. If ~ under pazagraph 19 the Property is acquired by I.ender~ Borrower's right to any insurance policies and procceds resulting ` from damage to the Property prior to the acquisition shall pass to Lender to the extent of the snms secured by this Security ; Instrument immadiately prior to the acquisition. ~ ~ 6. Preaervstion and Mainteoance of Property; I,eAaeholds, Borcower shall not destroy, damage nr substantislly f change the Property, allanv'tha Property to detcriorate or commit waste..If this Security ~nstrument is on a kasehold. ~ Horrower shall comply with the provisions of the ieas~, and it' Horrower acquires fee titl~ to the Property~ tht leasehold and ; fa title shall not mergc unless I.ender agrees to the mergcr in writing. . ; ProtecHon of Lender's Rights in the Property; Mortgage Insurarece. If Borrower fails to perform th! ~ covenants and agreements eontained in this Security Instrument, or there is a legal praceeding that may significa:ntly affect ? Ler~der's rights in the Praperty (such as a proceeding in banknt~ft~y, probats, for condemeation ot to enforce laws .Qr ; regulations), then I.ender may do ~nd pay tor whatever is nocessary'to ptotect the vsluc bf thc Property and Lender's rights in the Froperty. Lender's actians may includo paying any sums socurai by a lien which has ~riocity over thi`'s S~curity i Instrumeet~ appearing in court, paying reasonable attameys' fas and entering on tht Property to make repairs. Atthough Lender may take aetion under this_paragraph 7~ I,ender dces not have to do so. . Any amounts diabursod by Lendcr undcr tbis paragraph 7 shall become add'itional debt of Bonower securod by this Security Instrument. Unltss Horrower and Lender agrce to other tcrms of payment, these amounts shal! bear interest from thc date of disbursement at thc Nvte rate and shall be payable, with interest, upon notice from Lender to Borrawer rtquesting payment. s~8S3 7,e5 ; ~~G r~ : gQac~~ r~ . - - _ . ~ . _ . _ _ _ . _ _ - ~ ' • . -