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Home My WebLink About0932 ~ UNI~~c~KM CovENANTS Barrower and i.endercovenant and agrec a~ fulluH~ti: 1. Payment of Princips! and Interesh, Prepayment end l.ate CharKcs, t3o~rower shall prompUy p~y when due the priRCipal af and interest on the debt evidenced by the Note and any prepa~~ment and late cha~ges due under ~ he Note. 2, funds for Taxes and lnsurance. Subject to appiicable law or to a written waiver by Lende~, Borrower shal) pay to Lender on the day monthly payments are due under the Note, unlil the Ncfte is paid in full, a sum ("Funds") equal to one-IH~eIRh of: (a) yearly taxes and assessments which may attai~ priority nver this Security InstrumeM; (b) yearly ~ leasehotd payments or ground rents an the Property, iP any; (c) ycarly hazard insurance premiums; and (d) yearly ` martgage insurance premiums, if any. These items are called "escroH~ itemti." l.ender may estimate the Funds due on Ihe t basis oPcurrent data and reasonable est~mates of future escrow items. 3 The Funds shall be held in an institution the deposits or accounls ~~f ~chich are insured or guaranteed by a federal or x state agency (including Lender if' Lender is such an institution). Lend~r chall apply the Funds to pay the escrow items. Lender may not charge for holding and applying the Funds, analyzing the account ar verifying the escrow~ items, unless ~ Lender pays Barrower interest on the Funds and applicabte law permits Lender to make such a charge. I3i~rrower and F Lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made ar applicable law ; requires intcrest to be paid, Lender shall not be required to pay Borro~a•er any interest or ear~titzgs on the Funds. 1_ender shall give to Borrower, without charge, an annual accounting of the }~unds showing credils and debi?s to the F=undt and the ; pur~se for which each debit ro the Funds was made. The ~unds are pledged as additional security for the sums secured by this Security Instrument. If the amount of the Funds held by Lender, together with the future manthly payments of Funds pa}•abte prior to the due dat~s of the escruw items, shall exceed the amount required to pay the escraw items when due, the excess shall be. at [3orrower's option, either promptly repaid to Borrower or credited to Borrower on monthly pa}•menls of Funds. If the amount of the Funds held by Lender is not sufi'icieni to pay the escrow items w~hen due, I3orrower shal) pay to Lender any amount necessary to make up the deficiency in one or more payments as required by Lender. U~n payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to ~3orrower any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender sha!! ap~ly, no later - than immediately prior to the sale of the Property or its acquisition by i.ender, any Funds held by Lender at the time of application as a credit against the sums securcd by this Security Instrument. 3, Application of Payments. linicss applicab!P law provides otherwisr, all payments received by Lender under paragraphs 1 and 2 shall be applied: first, to late charges due under ~he 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, Charges; Liens. Borrower shall pay alt laxes, assessments, charges, fines and imFwsitions attributable to the { Pro~erty which may attain pri~rit}• over this Security Instrument, and leasehold payments or grounci rents, if any. Borrow•er sha!! pay these obligations in Ihe manner provided in paragraph 2, e~r if not paid in that manncr, f3orrower shall pay them on time directly tn the person owed payment. Borrower shall promptly furnish to l.ender all notices ot amounts to be paid under this paragraph. If I3orrower makes these payments directly, Borrower shaii pmmptly furnish to Lender receipts evidencing the payments. f3orrower shall promptly discharge any lien which has priority c>ver this Security lnstrument unless E3orrower. (a) agrees in writing to the payment of the obligation secured by the tien in a manner arceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, Icgal prcxecdings which in thc Lender's opinion operate to prevent the enforcement of the lien or f~~rfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lender suhordinating the lien to this Security Instrument. 1( Lender determines that any part o£ the Property is subject t~ a lien which may attain priority over this Security Instrument, Lender may give 13~rrower a notice identifying the lien. Borrower shal! satis`~~ the lien or take one or more of the actions set forth ahove a~ithin 10 days ~ of the giving of notice. 5. Hazard Insurance. Borrower shaU kcep thc improvemcnts nou• existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender . requires insuranre. This insurance shatl be maintained in the amounts and for the pericxis that Lender reyuires. The ; insurance carrier providing the insurance shal) be chosen by 13ocrower subject to Lender's approval w~hirh sha11 not be unreasonably withheld. All insurance policies and renewals chall he acceptable to Lender and sha{I include a standard murtgage clautie. I_ender shall have the right to hold the ~licies aRd renewals. (f Lender requires, Borrower shaN promptly give to Lender ~ ' all receipts of paid premiums and renewat noticeti. tn the evcnt cif lass. Bcrrou~rr shall give prompt notice to the insurance t carrier and Lender. Lender may make prootvf loss if not made promptly by [3orrower. ~ f Unless Lender and Borrower otherw•ise agrec in writin~, insurance prcxeeds shall be applied to resturation ~r repair ~ I of the Yroperty damaged, if the restoration or repair is economicall}• feasible and Lender's security is not lessened. tf the ; restoration or repair is not economically feasihle or Lender's ~ecurit~• w~ould be tessened, the inturance prcxeeet~ shall be ~ applied to the sums secured by this Security Instrument, whether or not then due, with any excess raid to Borraw~er. IC s I Borrc~w•er abandons the Property, or dcx:s n~t answer within 30 da~•s a n~iti~e from Lender that the: in.uranrc carrier hati offered to setile a claim. lhen Lender may collert the insurancc pnxecds. Lender ma~• use the pr~keeds to rr~~air c~r rc1l~~rc the Pr~rerty or to pay sums secured by this Securit~• instrument, w•hether or not then due. The 10-dap ~eri~xl ~~•iil hegin ~ ~ when the notice is given. j Unless Lender and Borrower otherwitie agrec in w~riting, ,~ny ap~lirati<in o£ prexeeds tc~ princ~~al sh:?11 n~~t extend ~~r ~`tpcme thc due date of the monthly paymentti rrferred to in paragrarhs 1 and 2~~r rhange the am~~unt i~f thr ~a~•ments. tf under paragraph 19 the Property is acquired by Lender, Bc~rroH~rr's right t~, an}~ insurance pc~lirie~ and ~r~kecd~ re~ulting Gom damage to the Property prior to the aryuitiiticro shall pacc t~~ l.ender to thr extent o( the ~umti securcd h}~ t hi~ Securii~ Instrument immediately prior to the acyuisiti~~n. ~ 6. Preservation and :~taintenance of Property; [.easeholds, liorrc~arr shall rt<~t clr~tn», damag~ su tiuhtilanUall}~ change the Propert}~, altow~ the Property t<~ ~Icteri<irate ~~r r~~mmit waslc. If thi~ S~YUnt} In~trumrnt i, ~~n a I~~a~ehnld, ~ f3~rrciwer sh~ll ec~mph~ wi~h thc ~ra~~i»i~nti ~,1 ~hr )r:~~r. and if 13~,rr~i~crr acyuire~ lec ~i~lr t~~ Ihr Pr~~~~rrt~. ~hr lea.eh~,ld and fee t~Ue ~hall n~~t mer~c unle~s Lend~r agrecs U~ thc merger in ~~•riting. 7. Prutection of I.ender's RiKhts in the Propert~~; ~tortQaKe insurance. (f B~~rr~~~+er faih t~~ ~tierfc~rm the r~,~rnaiit~ and aKre~mcntti c<~ntaincd in thi~ Srrurit}~ Imtrumenl. ~~r thrrr is a Irgal rr<,~rrding that ma~ ~ignifirantl~' alTrrt Lendrr'ti right~ in the f're~~xrt~~ (wrh a~ a~rcxeeding irt hankruptct~, prubate. (c~r c~mdemnaucm ~~r tu enforce la~sti ar rrgulatiiint). thcn l.cnder ma}' d~, and pa}~ fi~r whatcver is nece~~an~ t~i rrotrrt the ~alue ~~f the Yn,~xrt~ and Lender'~ rightti , ~n the I~r„Mrt~. Lrndrr'ti ar~ic~m ma}~ inrlude Paying an~~ .umti ucured bc a lien wh~ch hati rriunt~ ~,~~r Ih~~ Srcurit} Inttrument, arpcaring in r~~urt, p~~y ing rrasonable attc~rne~•s' fee~ and entenng ~n thr Pm~erl}' Ii~ makr re~airs. Alttwugh , I_endrr ma~~ take aclion under Ih~~ paragrarh 7, l.ender doe~ nc~t ha~ e tc~ di~ 5~•. Any amc~unh di~bur~ed by~ t.ender under thi~ paragra~h 7 shall berrrnr ad~fiu~~nal drht ot (3~,rmwer ~ecured h~• thiti Sccunh• In~tn~mrnt Un1e« 1~<Trr~n+er and Lender agree tn other terms ~f ~a~ ment. the.c am~~~ntti ~hall Ixxar interetil from the date c~f dt.~hur~rmrnt at thc tii~te ratc and ~hall be pa}'ahle. ~~ith interest. u~,<~n n~mr~ fr<,m Lender t~, Bi~rr<~w•er rcyur~ting pa}~mrm. 600f( ~ PAf,E J~~ ~ =~r'~*;'~'