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Home My WebLink About0935 UNIFORM COVENANTS Borrower an~i lender covenant anci agree as fallov?s 1. Payment ot Prlnclpd and Interest; Prepayment and Late Charges. Baiower sha~i pr~~n~ptiy pay when c1~~e Fx~nc~pal ot and interest on the debt evidenced by the Note and any prepaymenl and late cha?ges due under Ihe Note 2. Funds fo~ T~xet and Insurance. Sub~ecl to app6cable iaw a to a wntle~ waiver by Lender. Bor•ower shau pay to Lender on ihe day menthly paymerns are due under the Note, unt~l lne Note ~s pa~d ~n ful1, a sum ( Funds") equai to one-twelith of ( a) yearly taxes and assessments wh~ch may attain pnordy over this Security Insirument, (b) yea~ly leasehofd payments or grountl rems on the P~operiy, it any: (c) yearly hazard insurance premiums, and (d) yearfy mortgage insurance premiums. ~t any These ~tems are caNed escrow items " Lender may estimate the Funds due on the basis of current dala and reasonable eshmates oi futwe escrow items The Funds shall be held in an inst~tution the depos+ts or accounis of wh,ch are ~nsured or guaranteed by a federal or state agency (includ~ng lender ~t ~ender ~s such an mstitution) Lender shall appty the Funds to pay ihe escrow ~tems Lender may not : charge for hotding and applying Ihe Funds, anatyzing the account or veiitying the escrow dems. un~ess Lender pays Borrower ' ~nterest on the Funds and applicable law permits Lendsr to make such a charge. 8orrower and ! ender may agree in wnting that interest shatl be paid on ihe Funds Unless an agreemenl is made or app6cable law requires interest to be paid. Lender shall not be ~ required to pay Borrower any inteiest or earrnngs on the Funds lender sha11 g~ve to Borrower. without charge. an annuat accounting ot the Funcis showing credils and debils tothe Funds andthepurposeforwhich each debit lothe Funds was made The Funds are pledged as additional security for the sums secured by this Security Instiument. ~ If t he amount of the Funds held by Lender. together with Ihe future monlhly payments ot Funds payab!e prior to the due dates ' of the escrow items, shall exceed the amounl required to pay the escrow items when due, the excess shalt be, at Borrower's opt~on, either promptly repa+d to Borrower ar cred,ted to Borrower on monthly paymeMs of Funds. lf the amounl o1lheFunds held by Lender ~ is not sutficient io pay !he escrow items when due, Borrower shall pay toLender any amount necessary to make up thedeiiciency ;n ~ s one w more payments as requircrd by Lender ~ Upon payment in iul! of all sums secured by this Securdy Instrumenl. Lender shall pror,~pty refund to Borro~~~er any Funds ~ held by Lender. If under paragraph t 9 the Property is sold or acquired by Lender, Lender shall apply. no later than immed~ately pnor j to the sate of the Property or its acquis+tion by Lender, any Funds held by Lender at the lime ot applicalion as a credit against the ~ sums secured by lhis Security Instrument i 3. Apptlcation oi Payments. Uniess appl+cable law provides otherwise, all payments received by Lender under f paragraphs t and 2 shall be applied: f+rst, to late charges due under the Note: second, to prepayment charges due under the Note: ~ th~rd, to amounts payable under paragraph 2; fourth, to interest due; and Iast, to principal due. 4. Ch~ges; Llens. Borrower sha11 pay att taxes, assessments, charges, fi~~s and impositions atlr:butable to the Property which may atlain priority over this Security Instrument, and leasehold payments er ground rents, i! any. 8orrower shall pay these ebligations in the manne? prov+ded in paragraph 2. or if not paid in thal manner. Borrower shall pay them on time directly to Ihe persor owed payment. Borrower shaN promptly furnishtoLender all notices of amounts tobepaiduncfer this paragraph It Borrower makes these payments directly. Borrower sha11 prompty turnish to lender receipts evidencing the payments Borrower shalt prompfty discharge any tien which has priorily over this Security Ins!rument untess Borrower: (a) agrees in writing to the payment of the obtigation secured by !he I,en in a manner acceptable toLender; (b) contesls in geod faith thetien, by or detends aga~nst enforcement of the l~en in. Iegal proceedings which in the Lender's opinion operate to prevent the enforcement of the fien ar forteiture of any part of the Property; or (c} secures from the hotder of the lien an agreement satisfactory to Lender subordmating the tien to Ihis Sec~ inty ~nstrument If Lender determines that any part o(the Property is subject to a tien which may attain priority over lhis Secunty Instrument, Lender may give Borrower a notice identifyingthe tien. 8orrower shal! satisfy thelien or take one or more ot ihe actions set forth abave within 10 days of the giving of notice. 5. Hezard In~urance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire. hazards included within the terrn extended coverage" and any other hazards for which Lender requires ~nsurance This msurance shatl be maintained in the amounts and tor the per:ads that Lender requires The insurance carrier prov~d~ng the insurance sha~l be chosen by f3orrower subject to Lender's approval whi~h shall not be unreasonably withheld ~ AII insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage dause Lender shalf have the rigM to hold the pohcies and renewals. Lender requ~res. Borrower shall promptty give to lender a?i recsipts of paid ; premiums and renewal notices. In the event of loss. E3orrower shall give prompt notice to the insurance carrier and~ender Lender ' i may make proof of loss rf not made promptly by Borrower ~ Unless Lender and Borrower oiher~rise ag~ee m writing. ~nsurance procee~s shal+ be appl~ed ?o resloration or repair of the ( Yroperly damaged. ~f the restoration or repa~r is economica~fy f~asible and lender's secunty is not lessened. If the restora!ron or - repair ~s not economicaliy teasibte or ~ender's secunty would be lessened, the insurance proceeds shall be apptied to the sums secured by this Security Instrument. whethe? or not then due. with any excess paidto Borrower. lf Borrower abandons IheProperty. ~ or does nat answer ruiihin 30 days a notice trom Lender that the !nsurance carrier has ottered io settle a c~aim. then Lender may ~ollecl the msi~rance proceeds ~ender may use the proceeds to repair or restore the Property or to pay sums secured by th~s Security Instrument, whether or not lhen due The 30-day period will begin when ihe notice is given. j Uniess Lender and Sorro°rver otherw+se agree in writmg. any application of proceeds to principal shal! not extend or ~ oostpone the due date af the monthly payments referred to on paragraphs 1 and 2 or change the amouN ot the payments If under paragraph 19 the Property ~s acqu~red by Lender. Borrower's right to any insurance polfc~es ar?dproceeds resulting irom damageto M the Property prior to the acquisition sha~l pass to Lender tothe extent of the sums secured by th~s Secunty Instrument immed~ately I ~no~ to the acquis~t~on. ~ 6. Preaervation and Maintenance of Property; Leaseholt~. Borrower shall not destroy. damage or substantial{y change the Property. allow the Property to detenorate or comm~t waste li this Security Instrument ~s on a leasehold. Borrowershalf comply w~th the prov~s~ons of the iease and +18orrower acqwres fee t~tle to the Prope; ty. theleaseholdandfeehUeshall rn~t merge uNess Lender agrees to the merger ~n wnting 7. Protection ot Lende~'s rights in the Property; Mortgsge Insurance. If dorrower ia~~s to perform the cave~an!s and agreements con!ained m Ih~s S~cunty Instrumenf. or lhere is a legal proceed~ng tha! may sigmf~canUy affect lender's nghts m the Property (such as a proceed~ng m bankruptcy. praCate. for contSemnat~on or to enforce la~ys or regulations). then Lender may do and pay for ~,r;hatever ~s n~cessary to prcteci the ~~alue of the Property and Lende~'s righls m lhe Property Lender's ar.t~ons may i ~nc~ude paymg any sums secured by a lien vvh~cn has prionty over th~s Secunty Instrument. appeanng +r. court. payir:y reasanable a?rorneys 1ees and ente~~ng on the Property to make repa~rs Aithough Lende~ may take action under th~s paragraph 7. Lender c:o~~ not hare to do so Any amounts d~sbursed by Lender under th~s ~;aragraph 7 shall Uecome additional ~ebt of Bonower secured by th+s Securily Instrument Un!ess Borrower and lender agrer to other terms of payment. these amount5 shall bear mterest fiom !he date of disbursement at the Note rate and sh2!i be payab!e. w~th mte!est. upon notice from Lend2r to Borrower requestir.g payment. ~ go;~ ~74 ~A~~ 936 , v,E„~«,s peap~ a e~ ~ oe „sea ae92a9 Rer sev s+ ~~e~~ Pc ( • - - N