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Home My WebLink About0925 . Utilft~tt~ll~~~~'t.tir~~(s {3~umH~r,~ndLendrrcu~'~ita~~tan~lagrrra.liill~~~~~ ; l. !'aymrnt of D'rincipal and Intcrest; Prepa~~ment and I,atr Chargrs, i3~~rru~~rr tihatl ~~rum~~tl} ~~;t~ ~~hrn ~lu~ the pnncipa! of and intrres~ un the debt evidrnred h~• the tiute ~ind .~n~~ prera~ mrnt .incf late ~•har~e. ~}~~e i~n~irr t}~e N~~tr j 2. f~unds for 7'axes ~nd lnsurance. Sub~ect t<? applicable la~~~ ur !u a~+~nt~en ~sa~+er h~• l.~ncirr, Il~?rru~+~er ~h,~il ~~:i~ ; t~~ Lender ~~n the da~~ rnonthly payment~ art due tmder ihc Ncrie, unUl Ihe I`o~e iti Paid in full, a~um ("t~und."} ~yu,il t~~ ~ one-iwelRh of: (a) yea~l}~ t~~xes and atiSCSSments ~ahich map auain ptiority o~er this Serunt~~ In.trumei~t; (b) ~~earl~• } leaseh~ld payments or ground rents on Ihe Yroperty, if an~~; (c) ~~early hararc! insuranee ~ir~miums; and (d) ~early ~ mortgage insurance premiums, i!' an~~. Thesr items are called "esens~~~ items." [.en~ier ma~• estimatr the ('und. duc c~n tlie ~ basis of current data and reasonab[e estimates ef future escro~v items. ~ 'l~he t~unds shaN be heid in ar2 ir~stitut+or. t11e de~osits or accoi?nts ot ~~~hich arc ins~~nd or ~;uaranteed by a federal ur state .+genc~~ (inclucfin~ l.ender if l.ender is such an institution). lxnder sha!I appl~~ the Funds tu pay theescru~~~ items. l.endrr m.~y nc~t ciklrgr for hnlding and appl~~ing the f~•~nds, anal~~~ing the account or ~~rrifying the escro~v items, unle.s l.ender {~a~~s 13~~rro~~Lr interest cm the Funds and applicable la~v ~:rmits t.ender to make such ~ rh~ar~;e. A eh~irgr astiessed by I.endcr in # c~~nnection ~~•ith f3arm~rcrs' entering into this Security Instrumeni to pa~~ the cc~st ot~ an independent tax reparting ser~~ice ~ shall not tx: a charge f~or purposes uf the preceding sentence. Bcsrro~~~er.~nd l.ender ma~- agrec in «•riting that interest shall tx raid on the t~unds, l!ntcss ~?n agrcemcnt is macie or applic.ible la~v reyuires inter~st to be pa~d, l.cndcr shall not tx reyuirc~l t~~ ~ pa~~ I3c~rrot~~er an~' i~~tere~l ar earnings on the t~unds. l.ender shall glre tu };arrc~~~~er. ~+•ithout charge, an t~nnual ace~~untin~ ~~f lhe t~unds sho~ring credits an~i debits to the E~unds and thc purpose I~~r ~shich earh debit to th~ t=unds ~ras m,?de. ~lhe I~unds ~ are pledged as additional securif~~ for thr sum~ ururcd b~~ this kciirity Instrumcnt. ~ If the amount of the Funds held by Lender, together with the future monthl~~ pa}~ments of Funds payable prior to { the due dates of the escraw items, shall exceed the amount required to pay the escro~v items «•hen due, the excess shall b~:, ~ at ~iorrower's option, eilher promptly repaid to Borrower or credited to f3orro~ver on monthly payments of Funds. If the ~ , amount of the Funds he(d by Lender is not su~icient to pay the escrou- items when due, Borroa~er shaN pay to Lender an~~ amount n~cessary to make up the deSc~ency in one or more payments as required by I.ender. iJpon payment in full of all sums secured by this Securit}~ Instrument, Lender shail promptly refund to Borrower any Funds hel~ by Lender. If under paragraph 19 the Yro~erty is sold or acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lendcr, an~~ Funds held by Lender at the time oE' applicatien as a credit against the sums secured by this Security Instrument. 3, Application of Payments. Unless appiicable taw provides otherwise, aH pay~ments recei~~ed by LeRde: under : paragraphs 1 and 2 shalt be apptied: first, to late charges due under the Note; second, to prepayment charges due under the Note; third, to amounts payable under paragraph 2; fourih, to interest due; and last, ta principal due. 4, Charges; Licns. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which may attain priority over this Security lnstrument, and leasehold payments or groun~ rents, if any~. ~ Borrower shall pay these obligatians in the manner provided in paragraph 2, or if not paid in that manner. Borrower shail pay them on time directly to the person ow•ed payment. Borrower shail pr~mptly furni~h to Lender all notices of amounts to be paid under this paragraph. If Barrowe~ makes these payments directly, E3orrower shall prompily furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien ~•hich has priority over this Security Instrument unless Borrower. (a) agrees in ~vriting to the payment of the obligation secured b}~ the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legai proceedings whic{i in the Lender's opinion operate io - prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the licn to this Security~ Instrument. If Lender determines that any part of the Property is subject to a lien which may attain priority c~ver this Securit)~ Instrument, Lender may give Borrow~er a notice identifying the lien. Borroti~~er shall satisfy the lien or take one or more of the actions set forth above within 10 days " oCthe giving oP notice. 5. Hazard Insuranee. Borrow•er shali keep the irr~provements no~• existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "exter.ded coverage" and any other hazards for which Lender requires insurance. This insurance shail be maintained in the amounts and for the periods ihat Lender requires. The insurance carrier providing the insurance shal) be chnsen by BoTrou~er subjec! to Lender's appro~~al which shall not be ` unreasonably withheld. All insurance policies and renewals shall be acceptable to Lender and shall inelude a standard mortgage clause. _ Lendcr shall have the right to hold the policies and renewals. If Lender requires, L'orrower shall promptl}~ give to Lender all receipts of paid premiums and renew~al notices. [n the event of loss, Borro«•er shall give prompt notice to the insurance carrier and Lender. Lender may make proof of ioss if not made promptly by Borro«~er. Uniess Lender and Borro~:~er otherw~ise agrce in K•riting, insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoratior, or repair is economically ~easible and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, ~+•hether or not then due, with any exce~s paid to Borrower. If Borrower abandons the Property, or dces not answer within 30 days a notice from Lender that the insurance carrier has ofTered to settle a claim, then Lender may collect t6e insurance proceeds. Lender may use the praceeds te repair or r~store the Property or to pay sums secured by this Security Instrament, whether or noi then due. The 30-day period will begin . when the not+ce is given. ~ Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not exten~ or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. [f under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance policies anc( proceeds resutting _ from damage to the Property prior to the acquisition shall pass to Lender to the extent oFthe sums sec~ared by this Security Instrumer~t immediately prior to the acquisition. . 6. Pres~rvation and Maintenance of Property; I,easeholds. Borrower shall not destroy, damage or substantially _ ~hange the Property, allow the Property to deteriorate or commit waste. If this Security instrument is on a leasehold, - Borrower shall comply with the provisions ef the lease, and if Borrower acyuires fee title to the Property, the teasehold and = fee title shall noi merge unless Lender agrees to the merger in writing. , 7. Protection of L,ender's Rights in the Property; hiortgage Insurance. if BorroK•er fails to perfarm th2 - covenants a~d agreements contained in this Security Instrument, or there is a legal proceeding that ma~~ significantly affect : Lender's rights in the Property (such as a proeeeding 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 af the Properly and Lender's rights in the Property. Lender's actians may include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender daes not have to do so. Any amounts disbursed by I ender under this paragraph 7 shall become additior.ai debt of Borroa~er securec; by this Stcurity Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice frnm Lender to Bc~rrower requesting payment. a~o~ 5~9 ~~~E 9~5 : ,a_...;~.. - , . _ _ . , _ _ : - - - = = ~ . _ ~