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Home My WebLink About0923 ('r~' t . UNIPOitM C70VENAI~17'S. Borrower and Lender caven~nt snd agra as follows: 1~ P~t ot Pri~~iMl sod IstereQ~ P~epayiasat aad Lte Cl~tr~s. Borrowcr shall prompily pay when due ' the prineipal of i?nnd interest on the debt evideacod by the Note snd any pn~psyment and late charga due under the Note. ~ Z. 1~~ for T~~ ~qN I~oe. Subject to spplic~ble t~~ or to a writtad wdver by I.ender~ 8orrower shall pay to I.ender o~ the dsy maathly p~yments sre due undcr tde Note, until the Note is psid in fi~ll, s sum ("Flrnds") eqw?1 to one-twelflh of (s) yearly taaes and sssessments which may ~?ttsin priority over this Security Instrument; (b) yeaily ta~aehoW p~ymaita or ground rents on the Property, if any; (c) yarly hazard insurencc premiums; and (d) yearly mart~age inaurana premiums. J iwy. Tt~ iteana sra called "escrow itecma." L.ender may estimatc thc Funds due on the b~sis af current dat~ and reesonabk esticnatea of tLtun escrow items. Tbe Funds sbaU be heM in an ipstilation the cteposits ar aa~ounta of which ~re inaured or guarantocd by a federal or state agcncy (iactuding Ler~der if I.ender ia such sui institution). Lender shall apply the Funds to pay the escrow items. ~ .~c~o4~~x~c+xx~ai?~~~~~r~~~c~c?x~x~x~a~~r~~~!~ ' iff1~~b~D~I~~IQ(~C{0~~~~~(7~7~~9fP~• Borrower and ~ ~ La~da may ~_in wr~ting thst interat ahall be pud on the Funds. Uatess an agreemsnt ia mad~ or applicab~e law - utres tntereat to b~ p~id, Laider s1ui1! not ba roquured to pay Borrower arty interdt or arnings on the Funds. Lender give to Hornaaer~ aithout chvge. an annua! accounting of tht Funds sbowing credits and debits to the Funds and thc purpoae for whieh aeh debit to tha Fund3 wss made. The Funda are giedgod as additional security for the sums securod by thia Security Iaatrument. If the ausotint of the Fuads held by I.ender, together with the future monthly payments of Funds payeble prior to the due dates of the eacmw items, ahsll c.xceod the amount rEquired to pay the eserow items wben due, ihe excess ~haU be, at Horrower'a optian. dther pr~omptly,npaid to~Horrower or credited to Borrower on monthly psymeats of Funds. If the amount of the Funds held by I,ender is not sufficient to pay the escrow itcros when due, Borcower shall pay to Lcnder any amour~t neoeuary ta make up tha deRciency in one or more payments as rcquired by Lender. Upon payment in full of all sums seeured by this Security Instrument, I.ender shsll promptly refund to Bonower any Funds held by Lender. If under paragraph 19 the Property is soid or acquirod by Lender, I.cnder shall apply, no later than immodiateiy prior to the sate of the Propeny or its acquisition by Lender, any Funds hejd by I.ender at the time of apQlication as a crodit against the sums secured by this Security Instrument. 3. Applia~tloa ot Paya~enb. Unless applicable law provides otherwise, all payments reaiv~d by Lender under paragr~phs 1 and 2 shall be appliod: Rtst, to late charges due under the Note; second~ to prepayment charges due under the Note; third~ to amounts payable under paragraph 2; fourth~ to interest due; and last, to principal due. 4. GUarga; I.~eas. Bomower shal! pa~y all taxes. assessments~ charges, Bnes and impositions attributable to the ~ Property whieh msy attain priority over this Socurity Instrumeni. and leasehold payments or ground rents, if any. t . Bomower shatl pay these obligations in the manner provided in paragraph 2~ or if not paid in that manner, Borrower shail - pay them on time directly to the person owed payment. Borrower shatl promptiy furnish to Ler?der all notices of amounts ~ to be peid under this paragraph. If Bocrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments. Bonowcr shall promptly discharge,any lien which has priority over this Security Instrument unless Borrowec (a) agrees.in writing to:t~t payment of ~he obli ation secprQd by the Jitn in a manner acceptable to Lender; (b) contests in good faith-the lien by~ ot def'ends against _enfo~rnt•vf the lien_in, (egat p~`oceedings which in the Lender's qpinion operate to prevtnt thc enfaroement of tlie Iien or foifetturt of any-parCof "ttie Property; or (c) secures from the tiolder of'the i~en an agrcement satisfactory to Lender subordinating the lien to this Socurity Instrument. IP Lender deternnines that any part of ths Property is subject to a lien which may attain priority over this Security Instrument, I.ender may give Borrower a noiioe itientifying the lien- Borrower shall satisfy the lien or take one or more of the actions set forth above within t0 days of the pving of noticc. 5. Huard Insurance. - Borr.o~eF ~hall Icap t~e improvements now eaisting or htrea~ter erected on the Ptoperty insured against loss.by firF~ .haza~ds inc.luded withun the term "cxtended coverage" and any other hazards foc which Lender requires insuranet. Ttiis insufance'shall bt maintained in the amounts and' fo~ the periods that L.erider requires. The ; insurance carrier providing the insurance shall be choxn by Borrower subject to Lender's approval which shall not be I unreasonably withheid. ~ ' All insurance policies and renewala~shall be acceptabie to Lender and shall include a standard mortgage clause. L.ender shall have tha right to hold the policies and renewals. If I,ender reqairzs,' Borrower shall promptly give to I.ender at1 receipts of praid premiums and renewal notices. In the event of loss, Bonower shall give prompt notice to the insurance carrier and Lendtr. Lender may maka proof of toss if noi made pro~nptly by Borrower. . Unless I,ender and 8orrower othtrwise agra in writing, insuranct procads shall be applied to restoration qr repair ; of the Property dar~iaged, if ttee restoration or irepair. is ee~oromically feasible and Lender's security is not lessenod. If the restoration or repair is not economically feasible or Lender's socur+ty would be lessened, the insu~ance proceeds shall be applied to.the.sums secu~ed by this Socurity Instrnment, whether or.not then due~ with any e~cess paid to Borrower. If Borrower abandons the Prop~rty. or does not answer~ within 30 days a notiee from i..ender that the ~insurance camer fias offered to settle a claim, th~n Lender tnay colloct the insurance procecds. Lender may use the proceeds to repair or restorc the Property or fo pay sums secured by this Sccurity Instrument, whether or not then due. The 30-day period will begin when tht notice is given. ' - ~ ' _ . ' ~ . . . Unkss I.;endet and Bi~rr~wtr ofherwise asree in writing, any application of proceeds to principat shall not extend or ~ postpone the due date of the monihly payments refened to in paragraphs 1 and 2 or change the amount of the paym:nts. If under paragrap~. l9 the Property is acQuired by Lender, Honowe~s righf to any insurance policies and proceods tesulting from damage to the Property prior to the acquisition shall pass to Lender to tht cxtent of the sums secured by this Security Instrument immediutely prior to the acquisition. 6. Prper~attao aod Matatee~tnce ot Prap~ty; I.es~e6olds. Bonower shall~not destroy. damage or subsfantially change the Property, aUow ihe Property to deteriorate or cammit waste. if this Sacurity Instrument is on a leasehold~ Borrower shall comply with the provisions of the leax, and if Bonower acquires fce title to the Property, the leasehold and fa title shall nut mage unless Lender agras to the mcrger in writing. F'rotect~on af Leadu's ltig'~t~ i~ t6e Property; Mort~uge Insunnce. Jf Borrower fails to pcrform the covenants and agraments contained in this Security Instrument, or there is a legai prococding that may signiflcantly atFect ~ Lender's rights in the Property (such aa a proceoding in bankruptcy, probate, for cor~demnation or to enforce laws or regulations), ihen I.ender may do and pay for wh~teve~ is nocessary to protect the value of the Property and Lender's rights in the Property. I,ender's sctions may include paying any sums secured by a tien which has priority over this Security instrument. appearing in court. paying reasanabk attorneys' fas and entering on the Praperty to make repairs. Althaugh Lender may take action under this paragraph 7~ Lender does not have to do so. Any amounts disburaed by Lender under this paragraph 7 shall become additional debt of Borrower securcd by this Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from tbe date of disbursrment at the Note rate and sha]I be payable, with interest, upon notice trom Lendcr to Horrower~ ~ requestin8 p~ymmt. ~ 9 . ~~K~1, PAGE . ~ • . . . . . s -