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Home My WebLink About0935 UNtFORht Cov~At~rTS. Borrower and L,ender covenant and agrec as follows: , 1. Payment of Prinapal and lnterest; Prepayment and Late Charges. Borrower shall promptiy pay w~hen duc tlx ~ princip~i of and intcrest on the debt evidenced by the Note and any prepaym~nt and late chazgrs due uncier the Note. I 2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower sh:ill pay to ~ Lender on the day monthly payments are due under t~e Note. until the Note is paid in futl, a sum ("Furnls") cyual tu one-twelhh of: (a) yeady taues and assessments which may attain priority over this Security Inswment; (b) yearly Iea.s~holcl payments or ground r~nts on the Property, if any; (c) yearly hazard insursnce premiums; and (J) yearly mortgage auur:u~~r premiums, if any. 'ILese items are catled "escrow items." Lepder may estunate the P~uxls due on the basis of current data :uKl reasonable estimates of future escrow items. 'Ihe Fu~cis shall be held in an institution the deposits or accounts of which are insured ur gu:u:u~teed by a iederal ur st:?tr agency (including L.ender if Lendet is such an icutitution). Lender shall apply the Funds to pay the escmw items. l.e~xkr may not charge for holding and applying the Funds,analyzing tbe account or verifying the esc~ ~w items, unless l.erKier pays Borro~~~cr interest on the Funds and applicable law permits Lender to make such a charge. A charge assessed by Lender in connection with 8or-rower's entering into this Security Instrument ta pay the cast af an independent tax reporting ser^vice shall nat be a charge far purposes af th~ preceding sent ence. Borrower aad Lender may agree in writing that inteiest shall be paid on the Funds. Unless an a~ueement is maJe or applicabk law requires interest to be paid. Lender shall not be roquired to pay Borrower sny interest or eamings on the FunJs. Lcncler s1w111 give ro Borrower. without c6arge. an annual accounting of tho Plmds showing cndits and debi~s to 1hc Futds and d~e purpe~se for which each debit to the F%~u~ds was made. T6e A~uxis are pledged as addidonal security for the sums secured by this Securiry Instcument. If the amount of the Funds held by Lender, together with the future monthly payments of Funds payable prior to thc duc dates of the escrow items, shall ezceed the amount required to pay the escrow items whn due, the excess shall be, ai Borrower's optioo, either prompQy repaid to Borrower or credited to Borrower on monthly payments of Funds. lf the amuunt uC ~he Furxls held by Lec~er is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any amoutx cecessary to make up the de6cien..y in one or moie paymen~s as required by Lender. Upon payment in full of all sums secured by this Security Ic~tiument, Lender shall prompUy refund to Borrower any Furxls held by Lender. If under paragrap619 the Property is sold or acqoired by L.ender, Lender shall apply, no later than immcdiatcly prior to the sale of the Property or its acquisition by L,ender, any Func~s held by Lender at the time of appticatiex~ as a crrdit against the sums secured by this Security Inswment. 3. Apptkatioo of Pa3 ments. Unless applicabk law provides otherwise, all payments receivec! by Lender uneler paragraphs i and 2 shall be applied: first, to late charges due undec the Note; seoond, to prepaymeut charges due under the Note; ~hird, to an~ounts payable under paragraph 2; fourth, to interest due; and la4t, to prinaipat due. 4. Charges; Liens. Borrower shall pay all taxes, assess~nents, chazges, fines and impositiau attributable to the Prc~crty w6ich may attain priority over this Security It~tnunent, and leasehold payments or ground rents, if any. Borrower shall pay thesc obligabior~s in the mazu~er provided in paragraph 2, ar if not paid in that mancer, Borrower st~all pay them on time directly Io tl~c peison owed payment. Boirower shall pramptly fumis6 to Lender all nolices of amouots to be paic! umler Qus paragrapl~. If Borrower malces ihese payments diiectly, Borrower shall promptly fumish to Lender receipts evidencing the payn~ents. Borrower shall pmmptly discharge any lien which has priority over this Security Inswment unless Borrower: (a) agrees in writing to the payment of the obligation secured by t6e lien in a manner acceptable to Lender, (b) contests in good Cai~h the lien by, or defends against enforoemeot of the lien in, legal proceedings which in the Lender's opinio~ operate to prevent the ; enfomement of the lien or forfeiture of any part of the Property; or (c) secures from the t~older of the lien an agreement satisfaetory ~ to L.ender subordinating the lien to this Security Instniment. If Leoderdetermines that any part of the Properiy is subject to a licn ~ which may attain priority over this Security Instiument, Lender may give Borrower a notice identifying the lien. Borrower shall E satisfy the lien or take oce or r~ore of the actioas set forth above within 10 days of the giving of notice. C S. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property iiLSUred ~ against loss by fire, hazazds included within the term "eztended coverage" and any other hazards for which Lencler myuires t insurance. 'Iliis insurance shall be maintained in the amounts aod fot the periods lhat Lender requires. The insur:uke carricr ~ Providing the insurance shall be chosen by Boirower subject to Lender's approval which shall na be unreasonably wi~htxld. i All insurance policies and ienewals shall be acceptable to Lender and shall include a standard mongage clause. Lerxler shall F have ~he right to 6old the policies and reoewals. If I,ender requires, Borrower st~all promptly give to Lxrxler all re~rip~s c~f paid premiums and recewal notices. In the event of loss, Borrower shall give prompt notice to the insuran~ carrier anci Lendrr. Leixler ~ may make proof of lass if not made prompdy by Borrower. ~ Unless Lender and Bomower otherwise agree in wriling, insarance proceeds s6a11 he applied to restoration or repai: vf tlk ~ Property damaged, if the restoration or repair is ecoaomically feasible and Lender's security is not lessened. If the restoratia~ or repair is not economically feasible or Lender's secarity would be lessened, the insurance proceeds shall be applied to the sums ~ secured by this Security Instiument, whether or not then due, with any excess paid to Borrower. If Borrower aba?xfuns ~he g Property, or does not answer within 30 days a notice from Leader that t6e iasurance carrier 6as offececi to settle a clxun, tl?ci~ ~ Lender may collect the insurance proceeds. Lender may use the proceeds to repair or ~stote the Property or to pay sums securcd ~ by this Security Instrumern, w6ether or not then due. 'Ibe 30-day period will begin w6en the ootice is given. ~ Unless Lender and Borrower otherwise agcee in writing, any application of proceeds to principal shall rrot extencl or pos~poc~e ~ the due date of the monthty payments refetled to in paragtaphs 1 and 2 or change the amount of the payments. If utxier paragraph ~ 19 the Property is acquired by LeQder, Bonower's right to any insurance policies and proceeds resulting from da~nage to Qic ~ Property prior to the acquisition shall pass to Lender to the exte~ of the sums secared by this Secvrity instn~ment immediately ~ prior to the acquisition. 6. Preservation and Maintenance of Property; Leaseholds. Borrowershall not desvoy, damage or substantiall~- change the Property, allow the Property to deteriorate er commit waste. If this Security Instrument is on a leaschold, Borrc?wcr shall comply with the provisions of ihe lease, and if Borrower acquires fee tide to the Property, the leasehol~ :uxl fee tillr shall n~N . merge unless Lender agrees to the merger in writing. 7. Protectiun of Lender's Rights in the Property; Mortgage Insnrance. If Borrower fails to perfotm Ihe c~~vcnarns - and agreements contained in this Security InstrumeM, or the~e is a legal proceeding that may signiGcantly af[ect L.e~xl~r's righls in tt~e Property (such as a proceeding in bankn~ptcy, probate, for condemnation or to enforce laws or cegulations), lhen Lerx)er may do and pay for whatever is necessary to protect the value of tbe Property and I,ender's rights in the Propcrty. Letxier's actions E may include paying any sums secured by a lien which has priority over this Security Irutrument. :?ppearing in ccwri, paying ~ reasonable attomeys' fees and entering on the PropeRy to make repaus. Although Leoder may take adion under this paragrapl~ ~ 7, Lender does not have tv do so. ~ Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Bormwer secvred by this Sccurity ~ Inswment. Urile.ss Borrower and Lender agree to other tenns of payment, these amouats shall beaz interest from thc date of ~ ciis ~ent at the Not rate and shall be payable, with interest, upon notice ~om Lender to Borrower ieyuesling payment. ~ " y intialing, the orrowet(t) acknowledges that this page is page Z o 4 - ~ 's of a FLORIDA MORTGAGE Inituls itials FNMA001 B 5B8 vp t.10 pa~~ 2 of 4 ~ R ~ - 6o~K 674 P~,~r ~~5 F i ~ ~ ~ ssa^`<° -~«~~~?~w*t~~`-~,~~~..~~z_`~ `~^~~.~~"~'i~``~~