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Home My WebLink About0971 .,...r_ UNIFORM OOVENANTS. 4orrower and Lander cyovenant end egree as followa 1. Paym~nt of PrMcipat ~nd IntsrN~ Pr~ayn?~nt a~d L~to CAarpa~. Borrower shali prompUy~ p~y when due Ihe prjncipai ot and interest on the deW evidenced by lhe Nole and any prepayment and late charges due urtidA~ tMe Note. 2 Fut~ b~ T~nt~s Mtd inawana~. Subjed to applic2~ble law a to a written wafver by Lender, 8or~ower shall pay•io lender on 1he day monthly payments are due under the Nole, until the NOie ts pald in fu~, a sum ("Funds") equal to one-tweifth of: ( a) yeary taxes and assessments which may ailain prbr'rty over tNs Security Instrumeni; (b) yeary leasehotd payments or ground ~ ~enls on ihe Propetty, H eny; (c) yeaiiy hazard insurance premiums; snd yeary mortgage insurance premiums, ~ any. These items are called "escrow ilems" Lender may estimate the Funds due on the bas+s ot curreni data and reasonable estimates ot . iuture escrow items. The Funds shall be hetd in an institution the deposits or accounis oi which a~e insured or guaranteed by a lederal or state ~ ~ agency (including Lender if lender is such an institution). Lend~ shall ~Fpy the Funds to pay the escxow ~ems. Lender may not . ; charge to~ holding and appying the Funds, anayzing the acaouM or veriying the escrow ~ems, u~ess Lender pays Borrower interest on the Funds and applicable Isw perr~its Lender to make such a charge. Bor~ower and lender may agree in writingthat ~ interest shall be paid an the ~unds. Unless an agreement is made or applicable law ~equues interest to be paid, lender shall not be • required ro pay Borrower a~y interest or e~rmngs on the Funds. Lende~ shalf give to Barrower, without charge, an annual acoounting ot the Funds showing credits and debits tothe Funds andihe purpose tor which each debit tolhe Funds was made. The - Funds are pledged as a~lditional security for the sums secured by this Security Insirument. - It the amount ot the Funds held by Lender, together with 1he fulure monthy p~ymenls of Funds payable prwr to the due dales of the escrow items, shall exceed the amount required to pay the esaow itams when due, the excess shall be, at Borrower's option. either p?ompty repaid to Bor~owei a credited to Borrower on monthly payments ol Punds. If the amount of the ~unds held by Lender is not sufticient to pay the escrow items when dus, Borrower shall pay to lender any amount necessary to make upthe deficiency ~ one or more payments as required by Lender. Upon payment in full of all sums secured by this Securiry Instrumenf, Lender shali promptly reiund to 8orrower arry Funds held by Lender. lt under paragraph 19 lhe Property is sdd ar acquired by Lender, l.ender shal! apply, nolaler than immediately prior to the sale of the Property or its acquisition by Lender, any Funds hetd by lender a! the time of application as a r,~edit against the sums secured by this Security tnst~ument. • - 3. Appticatlon of Pa~lrnants. Unless applicable taw provides otherwise, all payments received by Lender und~r paragraphs 1 and 2 shall be applied:lirst, Ro late charges due under the Note; se~ond, to prepaymenl charges due under the Note; third, to amounts payaWe under paragraph 2; fou~th, to interest due; and last, to principal due. ~ 4. Char9~; Ll~ns. Borrower shall pay al1 taxes, assessments. charges, fines and impositians attributabte to the Property wh;ch may attain prioriry over Ihis Security Inst~ument, andleaseholdpayments orgroundrents, ii any. Borrower shall pay these obligaiions in the manner provided in paragraph 2, or if nd paid in ihat manner, Borrower shall pay them on time directly tothe person owed payment. Borrower shall prompty (urnishto Lender afl notices of amounts tobe paid undsr this paragraph It Borrower makes these payments directly, Borrower shall prompty turnish to Lender receipts evidenang the paymenis_ Borrower shatt promptly discharge any ken which has priority over this Secu~ity Instrument unless Borrower: (a) agrees in ~ writingtothepaymer~toftheobiigatlonsecuredbythelieninamanneracceptaWetoLender,(b)conteslsingoodfaitMhelien.byor detends against enforcement of the lien in, legal praceedings which in the Lender's opinion operate to prevenl the eniorcement ot ihe lien or foKeiture ot any pah of the Property: or (c) secures from the holder of the lien an agreement satisfactory ta lender subordinating the lien to ihis Security Instrument. lf Lender determ~nes that any pa~f of the Property is subject to a lien which may attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Scxrower shall satisy Ihe lien or take one or mc~re of the actions set torth above within 10 days ot the giving oi notice. . 5. Huud In:urance. Borrowe~ shall keep the improvemenis now exist~ng 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 sha!! be maintained in the amounls and for the periods that lender requires. The insurance carrier providing the insu?ance shall be chosen by Borrower subject io Lender's approval which shalt not be unreasonably withheld. Aq insurance policies and renewats shall be acceptable to Lender and shall indude a standard moRgage clause. Lender shall have the right to hold the policies and renewats. If Lender requires, Borrower shall prompty give to Lender all rece+pts of paid premiums and renewal notices. In the event ol loss, Borrower shall gpre prompt notice to the insurance carrier and Lender. Lender may make proof ot loss if not made prompty by 8orrower. Unless Lender and Borrower otherwise agree in writin~, insurance proceeds shall be applied to.restoration or repair of the Property damaged, if the restoration or repair is economicalty feasibte and Lencier's security is not lessened. Ii the restoration or repair is not economicalty teasible or Lende~'s security would be lessened, the insurance proceeds shall be applied to the sums ' secured by lhis Security Instrument, whether or not then due, with any excess paidto Borrower. If Borrower abandons the Property, or does no! answer within 30 days a nolice irom Lender that the insurance caRief has offered to sellle a claim, then lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property a to pay sums secured by this Security Instrum2nt, whether or not then due. The 30-day per"wd will begin when the notice is given. Unless Lender and 8orrower otherwise agree in writing, any application ot proceeds to principal shall not extend or postpone the due date of the monthy payments reterred to in paragraphs i artd 2 a change ihe amount ot the payments. If under paragraph 19 the Property is acquiredby Lender. 8orrower's right toarry insurance poiicies andproceeds resuttingfrom damageto the Property prior to the acquisition shall pass to Lender to ihe extent of the sums secured by this Security Instrument immediately prior to the acquisition. 8. Preaerv~tlon and Malntenanze of Prop~rty; Lssseholda. Borrower shalt not destray, damage or subsfantiatly change the Property, allow the Property to deteriorate or commit waste. If this Sea,rity Insirument is on a leasehoid. Borrower shafl comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leaseholdandfeetit~eshall n~t merge unless Lender agrees to the merge? in writing. 7. Prot~ctlon of lsnder's rl~hts In the P~op~rty; Mo~tga~e fnsuranct. !i Bwros+ver taits to pertorm the covenants and agreements contained in this Securiry tnstrument, or there +s a legal proceeding Ihat may significanlly affect Lender's rights in Ihe Property (such as a proceedi~g in bankruptcy, probaie, lor condemnatbn or to entorce laws or regulations), then Lender may do and pay for whatever is necessary to proled ths value oi the Properry and Lender's rights in the Property. Lender's actions may in~clude paying any sums secured by a lien which has priority over this Security Instrumenl, appearing in court, paying reasonable attaneys' fees and entering on the Property to make repairs. Alihbugh Lender may take aclion under this paragraph 7. Lender does nol have to do so. Any amounls disbursed by Lender under this paragraph 7 shall become additional debt oi Borrower secure~ by this Security ' Instrument. Unless Borrower and Lender agree to other terms of payment, these amoursts shall bear interest from the date of dislx]rsemeM at the Note rate and shall be payable, with interest, upon notice hom Lender to Barower requesting payment. , Prwr~ar wMlon a1,h,~ e~ m.r e. u..e ~y~~l~~Ii~N RMr~Bp KvnlG~?~~ ~ _ _