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Home My WebLink About0831 UNIFORN CO~'FVA11S Borrower and Lender cc~venaru and:tgrcc folluHti. 1. Payment of Principal and lnterest; Prepayment and Late Charges. Burmarr thall promptl~ pa~ Khrn dur the principal of and interest on the debt evidenced by the Note and an}• prep:~~ mcnt an~ I;~~e rh~rge~ dur undrr the tiute. 2. Funds fo~ Ts~xes and [nsuranee. SubJect to applicable law or to a wnttrn wai~er by~ Lender, HorruW er tihall pa~ to Lender on the day monthty paymeats are due under ihe Note, until the IVote ~ti pa~d in full, a~um ("Fundti") ryu;~l to one-twelfth of: (a) yearly taxes and assessments which may attain priority over this Securi~~~ Imtrument: (b) ~~earl~~ leasehold payments or ground rents on the Property, if any; (c) yearly hazard in,urance premiums; and (d) y~early mortgage insurance premiums, if any. These ~tems are called "escrow items." Lender may r~timate the Funds due on the basis of current data and reasonable estimates of future escrow items. The Funds shall he held in an +nstitution the deposits or accounts ol which are insured or guaranreed b~~ a federal or state agency (including Lender if I_ender is such an institution). l~ender shatl app{~~ the f=unds to pa~• the escroH items. I.ender ma~~ not charge for holding and applying the Funds, analy»ng the account or renf~~ing the escroH~ items, unletis l.ender ~~•s Borrower interest on the Funds and applicable law permits l.ender to make such a charge. A charge assessed b~~ Lender in connectiun witfi Sorroaers' entering into this Security lnswment to pay the cost of an independent tax reporting serricr ,hall not be a charge for purposes of the preceding sentencz. Borro~ver and Lender ma~• agree in w riting that intenst shall be paid ~~n the Funds. Unless an agreement is made or applicabte taw reyuires interest to be paid, l.ender shall not be reyuired to pa~~ t3orrawer am~ intemst or earnings on the Funds. Lender shall gi~e ta t3orrower, without charge, an annual accountinK of the Funds showing credits and debits to the Funds and the purpose for w~hich each debit to the Funds ~ca~ made. ~Ihe Funds are ptedged as additional ,ecurit~~ for the sums secured by this S~cunty Instrument. {f the amount of the Funds held by•Lender, together with the future monthly payments of Funds payable prior to the due dates of'the escrow itesns, shall exceed the amount required to pay the escrow items when due, the excess shall be. at Borrower's option, either promptly repaid to Borrowe~ ar credited to Borrower on monthly payments oP Funds. If the amount of the Funds held by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or more payments as required by Lender. Upon payment in fu11 of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. If under paragrapfi 19 the Property is sold or acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or ets acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Security Instr~ment. 3. Applieation of Payments. Unless applicable law provides otherwise, al) payments received by Lender under paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under the Note; third, ta amounts payable under paragraph 2; fourth, to interest due; and last, to principal due. 4. Charges; Liens. Borrower shal! pay all taxes, assessments, charges, fines and impositions attributable to the Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shal! pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragrapfi. lf Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the'payments. Borrower shall promptly discharge an}~ lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings a~hich in the Lender's opinion operate to prevent the enforcement af the tien or forfeiture ot' any part of the Property; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. IP Lender determines that any part 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. Borrower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. ~ S. Hazard Insurance. Borrower shali keep the improvements now• existing or hereafter erected on the Property f insured against toss by 6re, hazards inc{uded within the term "extended coverage" and any other hazards for w~hich Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The ! insurance carrier providing the insurance shall be chosen by Bo~row~er subject to [.ender's approval which shall not be y unreasonably withheld. ' Alf insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. k Lender shall have the right to hold the policies and renewals. If Lender requires. Borrower shall promptly give to Lender ~ all receipts of paid premiums and renewal notices. [n the event oC loss, Borrower sfiafl give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair ~ of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the ~ restoration or repair is not economicaliy feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then ~ue, with any excess paid to Borrower. If Borrower abandons the Property, or dces not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender ma f use the Qroceeds to repair or restore the Property or to pay sums secured by this Security [nstrument, whether or not then due. The 30-day period will begin ~ when the notice is g+ven. ~ Unless Lender and Borrower otherwise a~re~ in writing, any application of proceeds to principai shall not eatend or postpone the due date oFthe monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If ~ under paragraph 19 the Property is acquired by L.ender, Borrower's right to any insurance policies and prcxeeds resulting i'rom damage to the Property prior to the aequisition shall pass to Lender to the extent of the sums secured by this Security ~ Instrument immediately prior to the acquisition. ~ 6. Preservation and Msintenaace of Property; L.easeholds. Borrower shali not destroy, damage or substantially ~ change the Property, allow the Proptrty to deteriorate or commit waste. If this Security [nstrument is on a leasehold, Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and fee title shaU not merge unless Lender agrees to the merger in writing. 7. Protection of Lender's Rights in the Property; Mortgage Insurance. If Borrower fails to perform the covenants and agreements contained in this Security Insirument, or there is a legai proceeding that may significantly afi'ect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, f~ evndemnation or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Letide~'stlghts in the Property. I,ender's actions may include paying any sums secured by a lie~ which has priority over this Seourity ~ 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, I,ender does not have to do so. ~ Any amounts disbursed by Lender under this paragcaph 7 sfia{{ bceome additional debt of Borrower secured by this ~ Security Instrument. L;nlas Borrower and Lendcr agree to other terms of payment, these amounts shall bear initrest from ~ the date of disburxment at the Note rate and shal! be payable, with interest, upon notice from Lender to Borrower @ requesting paymtnt. ~ - ~ ~ ~ . ' ~ R EOUK 66~7 ?AGE z~g BOOK PAGE 83i ~ . - ~ , _ ~ -~y~,:~:~;"~"~ a~~~ ~ ~