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Home My WebLink About2256 UNIFORM COVENANTS. Borrower and Lender covenant end agree as tollowa: t. Paymant of Princtpal and Int~rost; Pr~payment and Lst~ Chuy~s. Borrower ahaN p~ompUy Pay wnen due ~ne principal ot and interest on the debt evidenced by the Note and prepayir~ent ~nd Ists charpea due under the Note. ~ 2. Funds for Taxes a~d Insuranco. Sub~sct to .pp~ble I.w « to a written w.Ner Dy ~ender, Borrower ahaN pay to Le~der on cne dey monthy pe~ta sro due under the Note, untY the Note ia pafd in tu~, a sum ("Funds'~ equal to onatweNth oi: yearly wces and assessments which msy attah prioriiy over thts Security InsUument; (b) ye~ily lesaehold peymanta or ground rents on the Property, M any; (c) yea~iy hazard hsurance prerr~ums; and Y~~Y ~~9e hsurance prerrruma. B any. Theae Merns ars ceNed "eacrow Rems." Lender may estimate the Funds due on the baaks of curtBnt dats and rosaonable eatinatea of tuturo esaow items. ~ fi The Fund~s ahaM be held In an hstttuUon the deposits or accounta of wfilch aro haured or ~uarenteed by s federal or atste agency ~ (includ'+ng Lender M Lender is such an instltuUon). Lender ahaN appy the Funda to pay the eacrow fterr?a. Lender may not cherge for hokling ~ and applying the Funds, analyzing the account or verilying the escxow Rems, unlesa Lendar pays Borrower interest on the Funds and ~ applicable law penr~ita Lender to meke such e charge. Borrowe? and Lender may agree in writing that interoat shaM be paid on the Funds. ~ Unless an agreement Is mnde or appicable isw ?equkes interest to be paid, lender ahaM not be roquired to pay Borrower any interest or ~ earnings on the Funds. Le~der shall give to Borrower, without charge, an ennual accountirs~ of the Funds showing cxedita and debits to the ~ Funds end the purpose tor which eech debit to the Funds waa mnde. The Funds are pledged as addidonal securily tor the sums secured by ~ by this Security Instrume~nt. ~ If the emount of the Funds held by Lender, together with the tuture monthy payments of Funds payable prbr to the due dates oi the ~ escrow items, shaN exceed the amount requked to pay the escrow Items when due, the exe~ss shal be, at Borrower's optbn, either prompUy ~ repa~d to Bwrower or credded to Borrower on monthy payments ot Funds. If the amouni of the Funds hdd by Lender is not suiflclent to pay the esaow i~ems whe~? due, Borrower shal pay to Lender any amount necessary to meke up the deliclency in one or more pa~ts as required by Lender. Upon payment in tuN of aN sums secured by this Security Instrument, Lender shaN promptly retund to Borrower any Funds held by Lender. It under paragreph 19 the Property is sold or acqu'ved by Lender, Le~der shel appy, no later then irrrnediatety prior to the sele of the Property or its acquisftion by Lender, any Funds held by Lender at the t~ne of app~cetion as a aedit against the sums secured by this Security ; I n strument. ' 3. Application of Payments. Unless applkable law provides otherwise, aN payments received by lender under paragraphs 1 snd 2 y shall be appiied: 6rst, to late charges due under the Note; second, to prepayment charges due under the Note; third, to amounts payaWe ~ under parac,~aph 2; tourth, to interest due; and last, to principel due. 4. Charg98; LIenB. Barower shar pey aM taxes, assessments, charges, tines and knposldons attnbutable to the Property which may = anain prioriiy over this Secu?ity instrument, and leasehold payrne~ts or ground rents, i( any. Borrower shaN pay these oWigstlons in the menner provided in paragraph 2, or it not paid in that menner, Borrower shaM pay them on Ume~ drectly to the person owed payment. Borrower shaN ~ prompUy tumish to Lender aY notices of amounts to be paid under this paragraph. it Borrower makes these payments diredhr, Borrower shaN p~omptly tumish to lender receipts evidendng the psyments. Borrower shaY promptty discharge any 6en whlch has priorily over this Sea~rity lnstrument unlesa BoROwer (a) agrees in wrlting to the pay- ~ ent of the ob6gatlon secured by the ien in e manner accepteble to Lender; (b) contests in good faith the ien by, or defends against enforce- , ment of the ien in, legal prooeedings which in the Lender's opinion operate to prevent entorceme~t oi the ien or forfeiture of any part of the Property; w(c) secures irom the holder of the Ren an agreement satisfactory to Lender subordu~athg the Ye~ to this Security insUument tf Lender determines that any part of the Properry is subjed to a Yen which mey ettah priority over this Security instrument, lender may give Berrower a notice identifying the I'ren. Borrower shaY satisiy the lie~ or take one or more oi the ac~ions set fath ebove withln 10 days oi the giving of notice. 5. Hazard (nsuranCS. Borrower shaN keeQ the irr~provements now existing or hereaRer ereded on the Property insured agak~st bss by fire, hazards {nduded withh the tertn "adended cwverage" and any other hazards tor which Lender requires inauranc:e. This insurance shaH be ma~ntak~ed in the amounts and for the pe~iods thal Lender requires. The insurance canier providin~ the insurance shal be chosen by Borrower subject to Lender's approval which sha~ not be unreasonably wi[hheld. I A11 insurance poli~des and renewais shaN be acceptabie to Lender and ahaN hdude a standard mortgage dause. Lender shell have the right ~ :o hold the po6des end renewels. M Lender requires, Borrower shel promptly give to Lender ar receipts of patd premiums and renewal notices. ; !n the event oi bss, Borrower shaA give prompt notice to .he fnsurance cerrier and Lende~. Lender may make proof of bsa If not made ~ prompUy by BoROwer. ~ Unless Lender and Borrower otherwise agree h writfng, hsurance proceeds shaY be appYed to restoradon or repair oi the Propery damaged, i if the restoration or repak b economicaYy fessible and lender's security is not lessened. M the restoraUon or repair is not economicaNy f~s~le ~ ~ or Lender's securiry would be lessened, the insurance proceeds shel be appCied to the sums secured by this Security Instrument, whether a : ~ not then due, with eny excess paid to Borrower. It Borrower ebendons the Property, or does not enswer within 30 deys a notlc~ irom L~der G ~ that the ~surance cerrier has offered to settle a daim, the~ Le~der mny cored the insursnce proceeds. Lender mny use proceeds to repair s ~ or restore the Property or to pay sums secured by this Sec~rity InsVument, whether or not the~ due. The 30-day period wNl begin when the notice is given. ~ Jnless Lender and Borrower othervvise agree in writing, any app5cation of proceeds to prindpal shaN not extend or postpone the due date ~ of the monthiy payments referred to in paragraphs 1 and 2 or change the amount oi the payments. H under paragraph 19 the Property is acquired by Lender, Borrower's right to any ~surance poides and proceeds resultlng irom damage to the PropeAy prior to the acquisition ~ shall pass to Lender to the extent ot the sums secured by thfs Sec~~rily Instrument ir?Knediately prfor to the acquisiUon. _ ~ 6. Preservation and Maintenance of Property; Leaseholds. Borrower shaY not destroy, damage or substantiay change the Property, aNow the Properiy to de4eriorate or commit waste. H thEa Security InsUument is on a leeaehold, Borrower ahal comply with the ~ provisions of the lease, and H Borrower acquires tee title to the Property, the leesehold end tee tide shaN not merge un{esa Lender agrees to the merger in writing. ~ 7. Protection of Lendsr's Rights in the Property; Mortgage insurance. ~ eorrower ta~s to pertonn the cove~ants a and agreements contah~ed h thls Security InsVument, or there is a legsl proceeding that may slgnfricently affect Lender's rights in the Property ` ;s~ch as a procceding a~ benlwptcy, probate, for condemnation or to enforce lews a regulatlons). then Lender may do and pay for whatever ~ ~ is necessary to protect the value o( the Property and Le~der's rights in the Prope~ty. Lender's adbna may indude psying any sums secured ~ by a lien which has priority over this Securiry InstrumeM, appeering in couR, paying reasonable attomeys' tee.s and ente~ing on the Praperty to ~ make repairs. Atthough Lender may teke action under this paragraph 7, Lender does not have to do so. ~ Any amounts d~sbursed by Lender under this peragraph 7 shaN become eddrtional debt of Borrower secured by this Security Instrument. t:niess Borrower and Lender agree to other terms of peyment, these amounts shaY benr interest from the date of cfisbursemeni at tha Note rate ~ ha i and shaN be payable, with interest, upon notice from Lender to Barower rec~esting peyment. ~ ~ ~ ~ ~j, ~ Pape 2 oi 4 ~ /i~ ~ ` ~ ~!89) 38596 ~ ~ ~ ? ~ ~ R ~7 r , ~ 80Q~( 6 ( 4 PACE22~ ' ~ - - - - - , ~ .~.F ,r~ . , v~;..;~:.~., _