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Home My WebLink About0999 . . ~ • ~ ~ UNlFbRM CbvENANTS. Borrawer f~nd Lendec covenant and agree as follows: 1. Paymeat ot Prtactpai aqd Inta~a~ Prepayatest ~ad Late Chuges. 8orrowc~ shail promptly pay when due ~ ~ the principal of ~nd intercst on the debt evidencod by the Note and any prepayment and late eha~ges due under the Nate. 2. I~nds tor T~ucet a»d Imnrance. Subject to appllcabie law or to a written waver by l.ender. 8onower sha!! pay to Lender on the day monthly psyments ue due undar the Note. until the Note is paid in fuli, s sum ("Funds•') equal to onrtwelRh of.• (a) y~arly t~uces and sssessments which may aitain prioriry over this Security tnstrume~t; (b) yearly ta~sehold payments oc ground rents on the Property, if any; (cj Xearly hazard insurana premiums; and (d) yearly s~ mongagc insurana premiums. if any. These items an ca110d "escrow items" I.cnder may estimate the Funds due on the basis of current data and r~sbk estimatea of future escrow items. ' ~z; The Funds shall be hetd in ~n institutian the deposita or accounts of which nrc insurtd or guarantoed by a federal or ~ - y state ageney (incloding Lender if Lender is such an institution). Lender shall apply the fiunds to pay the escrow ittms. `;'9 Ltnde~ may not charge for holding ~nd applying the Funds. analyzing the account or' verifying the escrow items~ unless I.ender paya Borrower interat on the fiunds und applicable la~w permits i.ender to make such a charge. Barrower a~d Lender may agra tn writing that interest shall be pnid on the Funds. Untess an agrcement is made or applicablc !aw - requi~es interat to be paid. Lender shall not be required to puy,Borrower any interest or earnings on the Funds. Lender shall givt to 8or'rower~ without charge, an annuAl accounting of the Funds showing credits a~d debits to thc ~unds and the purpose for whieh each debit to the Funds was made: The Funds are pledged as additional security tor the sums securcd by _ , this Security Instrument. " If the amount of the Funds held by Lender~ together with the future monthty payments of Funds payable priar to the due dates of the escruw itema, sbal! exceod the emount roquircd to pay the escrow items when due, the excess shall be, at 8orrower'a opiion. eithrr pmmptly repaid to Borrower or credited to Horrower on monthly paymrnts of Funds. lf the amount•of the Funds held by I.ender is not sufRcir+~t to pay the escrow items whan due~ Borrower shall pay to I.ender any amount ne~ce.tsary to make up the deficiency in one or moro payments as re~uared by Lender. Upon paymrnt in ful! of all aums socured by thi~ Socurity In'strument, I.ender shait promptfy refund to 8orrower - any Funds held by Lender. tf under paragraph 14 tbe Property is sold or acquircd by I.ender~ Lender shall apply. no later . ihar~ immediately prior to the sale of the Aroperty or its acquisition by Lender, any Funds held by Lender at the time of applicalion as a credit against the sums secured by this Security lnstrument. • 3. AppliEadop o! Paymeata. Unless applicable law ptovides otherwise, all payments received by Lender unde~ ~ paragraphs 1 and 2 shall be appliod: first~ to late charges due under the Note; second~ to prepayment charges due under the f' Note; third~ to amounts pnyabie under paragraph 2; fourth~ to interest due; ar~d lasf, to principa~l due. _ 4. Ch~rg~ Uena. Borrower shal) pay al! ta~ces, essessments, charges,,fines and impnsitions attributable to the `Y~ Property which may attain priority over this Security Ir~strument~ and leasehold payments or ground rents. if any. Borrov~er shall pay these obligations in the manner providai in paragraph 2~ or if not paid in that manner, Borrower shall _ pay them on time diroctly to the person owed payment. Borrower shall promptly furnish to I,ender all riotices of amounis _ to be paid under this paragraph. tf Borrower makes these payments directly, Borrower shall promptly !'urnish to I.ender ~ roeeipts evidencing ihe payments. . , - Borrower shall ptomptly discharge any lien which has priority over this Security lnstrument unlcss Borrower: (a) - agras in writing to the payment of ths obligation secured by the lien in a manner acceptable to Lender, (b) contests in good taith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent the enforcement of the tien or forfeiture of any part of the Pro~serty; or (c) secures from the holderaf the lien an agrcement satisfactory to I.tnder subordinating the lien to thes Securiry Instrument. lf L.ender determines that any part of the Pmperty is sub,ject to a lien which may attain priority over this Security Instrument~ L.ender may givc Dorrower a - notice identifying the lien. Bonower shall satisfy the lien o~ take one or more uf the actions set forth above within 10 days - of the giving of notice. S. Nwrd Iasurance. Bonower shall keep the improvements now ezisting or hereaRer erected on the Property , insured against tass by fire, hazards include~ within the term "extended coverage" and any other hazards for which Lender requirts insurance. ?his insurance shail be maintaincd in the amounts and for the periods that Lender reyuires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. All insurance policies and rtnewais shall be acceptable to Lender and shaf) include a standard mortgage. clause. I.ende~ shall have the right ta hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender aU rccripts oPpaid preminms an~ renewal notices. In the event of loss, Borrower shaU give prompt noticc to the insurance ~ carrier and Lender. Lender may make proof of loss if not made prompNy by Borrower. ~ Unless Lender and Borrower otherwise agrce in writing. insurance proceeds shall be applied to restoration or repair of the Property damagad~ if the restoration or repair is economicalty feasibte and I.ender's security is not lessened. If the -a restoration or r~pair is nat a~anomically feasible or Le+~der's security would be lessened, the insurance praceecis shall be applied to the sums soeured by this Security Instrument, whether or not then due, with any eacess paid to Borrower. If Borrower abandons the Properly. or does not answer within 30 days a notice from Lender that the insurance earrier has _ offered to settle a claim~ ttten L.ender may collect the insurance proceeds. I.ender may use the proceeds to repair nr rectore ~ the Property or to pay sums xcurtd by this Security Instrument. whether or not then due. The 30-day period u•iN begin when the notice is given.. _ - Unless Ler~dtr and Botrower otherwise agree in writing, any application af proceeds tn princij?al shall not extend or ` postpone the due date of the monthly payments referred to in paragraphs 1 and 2 ar change the amount of the payments. lf ~ under paragraph 19 tht Property is acquired by [,ender, Borrower's right to any insurance ~licies and prcxeeds resulting from damage to the Property prior ta the acquisition s6a11 pass to Lender to the extent of the ~ums secured by this Serurity Instrument immediatdy priar to the acquisition. 6. Presenation and Malntenance of Properiv; I.enseholds. Borrower shall not de~troy, damage or sub~tantially changt the Pro~rerty, allow the Property ro deteriorate or cammit waste. If this Security Instrument is on a leasehold, Sorrower shall comply with the provisions of Ihr lease, and if i3c~rrower acyuires fee tide to Ihe 1'roperty, lhr leasehold and fee title shall not mcrge unles.S Lender agrees to the merger in v?riting. 7. ProteMion ot Lender's Rights in the Property; Mortgage tnsurance. If &?rrower tail~ to pcrform the coyenant5 and agreements contained in this Seci~rity lnstrument, or Ihere is a legal prixeeding lhat may significanUy afTert Lender's rights in the Praperty (such as a pruceeding in bankruptcy, probate, for condemnation or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property an~ Lender's rights in the Propeny. Lender s actions may include paying any sums secured by a lien which has priority uver this Security Instrument, appearing in court. paying reasonabte attorneys' fees and entering on the Property to make repairs. Allhough Lcnder may take action under this paragraph 7, i.ender does not have to da so. Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of 8orrower secured by this Security Instrument. Unless Eiorrower and Lender agree to other terms of payment, these amounts sfiall bear interes~ f~om the date af disburxment at the Note raye and shall be payable, with interest. u~xm nntice from Lender to Borrower requesting payment. ~ ~oaK 5fi3 ~AC~ 998 . , _ . , _ .~.....,..M.~.x _ . . . _.w . ~ ~ - _ _