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Home My WebLink About2270 UNI~ORM COVENANTS. Borrowar and Lsnder oovenant and a~res aa followa: 1. Paymant of Principal a~d Intsr~st; Pnpay~n~nt and Lst~ Chsrp~s. eorrowe~ at?aM pr«r~pyr pay when oue the principal of and interest on the debt evMenced by the Note and prepeyment and Iste char9ea due under the Note. 2. Funda for Taxe: and Insuranco. Sub)ea to appyceb~e iaw or to s wrNten rvaker by Lender, Borrower ahal pay to Lender on the ciay monthy payn?enta aro due under the Note, untll the Nots b peW h tu1, a aum ("Funda'~ equal to ono-twellth ot (a) yearfy taxes and assessmenta wh{ch msy attah p~lority over this Securily Inetrument; (b) yesrfy leaaehold payrnenta or fltound ronta on tha Property, If any; (c) yeary haiard insurance premiums: and (ci1 Y~Y ~9s9e inauru?ce preir~iums~ M any. Theae kert?s ero caded "c~aaow items." Lender may estimate the Funds due on the basfa of current data and rosaonabte eathxtea of iuturo esaow Rems. The Funds shall be held h en hstituUa~ the dopo3lta or acc~ounts of whkh aro hsurod or guaranteed by e tederal or state agency (including lender N Lender ia auch an haUtnUon). Lender ahar ~ppy the Funds to pay the eacrow kerra. Lender msy not charge tor holding and applyM~g the Funda, analycing the account or verMyhg ths eacrow Rema, unbaa Lender paya Barower lnteroat on tha Funda end appGcable {aw pertNts Lender to meke auch e charge. Barower end Lender may ayroe in writiny that htereat ahaN be pald on the Funds. Unless an agreeme~t Is msde or appYcable Isw req~i~es intereat to be pald, Lender shaM not be required to psy Borrower any M?terest or eamings on the Funds. Lender ahaN gMa to Borrower, without char9e, en annual acoountlny o! the Funds ahowing aedita end debita to the Funds and the purpose for whkh each debit to the Funds was msde. The Funds are pled9ed as adc~itlonal aecurity tor the suma aecured by by this Security Instrument. It the amount of tha Funda he{d by Lender, toge[her with the iuturo monthly paymenta of Funda psyable prior to the due dates of the escrow ftems, sher exceed the amount required to pay the esaow Rerr~s when due, the excess shal be, at Borrower's option, either promptly repaid to Borrower or cxedted to Borrower on monthy payments oi Funds. R the amount oi the Funds held by Lender is not suiflcient to pay the esaow items when due, Borrower shaN pey to Lender any amount necessary to meke up the deficie~cy in one or rrwxe pryments as required by Lendet. Upon payment in 1u! of a1 sums secured by thfs Security Instrument, Le~der sheN promptly re(und to Borrower any Funds held by Lender. It under paragraph 19 the Property is sold or acquked by Lender, Lender shal apply, no Ister than Mmedietey prior to the aale ot the Property or its acquisition by Lender, any Funds held by Lender at the t~me of appicstion as a aedR ageinst the sums secured by this Security Instrument. 3. Application of Payments. Un~ess appNcable law provides otherwise, a1 paymenta received by Lender under paragrephs 1 and 2 shall be app6ed: ti~st, to late charges due under the Note; second, to prepayment cherges due under the Note; thlyd, to emounts payable under paragraph 2; fourth, to (nterest due; and last, to principal due. 4. Ch8rge8; L1ens. Borrower shaN pay aM taxes, asaessments, charges, fnes and irnposNlona attrbutable to the Propeny which mey attain priority over this Securiry Instrument, and leasehold psyments or ground rents, it any. Borrower shal pay these ob6gat~ons in the manner provided in paragraph 2, or H not paid in that menner, Borrower ahal pay them on time drectly to the person owed payrnent. Borrower shaU prompty iumish to Lender eM notkea oi amounts to be pald under this peragraph. H Borrower melces these peyrnents directly, Borrower shet promptly 1umish to Lender ~eoeipts evidencing the payrt~ents. - Borrower shaN promptly df.scharge any ien whtch has priorfty over thls Securtty Instrument unless Borrower. (a) ayrees ~n writing to the pay- j ent of the obYgatlon secured by the Nen fn a menner acceptable to Lendet; (b) contests In good fafth the ien by, or detends agafnst e~force~ ; ment oi the 5en irt, {egal proceedngs which in the Lender's opinion operate to prerrent enforcemer?t of the ien or iorieiture of any part of the ~ Property; or (c) secures trom the holdef of the lien an agreement satistactory to Lender aubordnatlng the Yen to thts Security Instrument. If Lender determk~es that eny part of the Property is subjec:t to a Gen wh{ch may attein prioriry over this Secxiriry Instn;ment, Lender may glve Barrower e notice identity~g the lie~. Borrower shaN satisy the ien or take one or more of the actlo~s sat forth above vrithh 10 days of the girng of notice. 5. HazBrd In8uranCe. Borrower shaM keep the improv~ts now exlst~g or hereafter erected on the Property insured against bss by fire, hazards induded within the term "extended coverage" and any other hazards ior which Lertder requires insurance. This insurance shal be maintained in the amounts and for the perbds thal Lender requires. The insurance carrier providhg the insurance shaN be chosen by Borrower subJed to lender's approvel whkh aheN not be unreesonably withheld. 'i All insurance poAdes and renewals shaN be acceptaWe to Lender and ahal hdude s standard mortgsge deuae. Lender shafl have the right ; to hold the poNdes end renewala. H Lender requiras, Borrower ahaN promptly give to Lender sN receipta of paid premiuma and renewel notices. ~ In the event of bss, Borrower shaN give prompt notlce to the insuranoe cerrier and Lender. Lender may make proof of loas H not made ~ promptly by Borrower. t Unless Lender end 8orrower otherwise agree h writhg, hsurance proceeds aha~ be appfied to restoratbn or repair oi the Pr~perty damaged, E ~ rf the restoration or reparc is economicaMy fees~le and Lender's security is not lessened. If the restoration or repair ia not ecanomicaMy f~siWe or Lender's securiy would be lessened, the rc~surance proceeds sha~ be appied to the sums secured by thfa Security UsLvment, whether or t not then due, with any excess peld to Borrower. tf Borrower abandona the PropeRy, or does ~ot u?swer within 30 deys a notice irom Lender ~ that the insurance carrier has offered to setde a dakn, then Lender may cok~ct the insurence proceeds. Lender may uae proceeds to repeir ~ or restore the Property or to pay sums secured by thls Security Instrument, whether or not then due. The 30-day pe~iod will begin when the notir,e is given. ~ Unless Le~der and Borrower otherwise agree in writing, eny ap~I'icatlor? of proceeda to principsl shaq not extend or postpone the due date ~ of the monthly payments referred to h paragraphs 1 and 2 or change the amount of the paymenta. H under paragraph 19 the Property is ~ acqui;ed by Lender, Borrowe~s right to any insurance poicies end proceeds reaultlng from demage to the Property prior to the acquisition k g shall pass to Lender to the extent of the sums aecured by thta Security Inatrument irtrr~edbtely prior to the noquisltion. 6. Preservation and Matntenance of Property; Lsaseholds. eorrower shaY not destroy, damege or substentia~y cnange ~ the Property, aNow the Property to dete~forate or cornrr~t waste. H thb Seairity Inatrument ia on a lensehold, Borrower shaM comply with the provisions oi the lease, and i( Borrower acqui~es tee title to the Property, the feasehoid and fee tHie shall not merge un{ess Lender agrees to ~ the merger in wrfting. E 7. Protection of Lender's Rlghts in the Property; Matgage Insuranco. n Borrowe~ ta~s to periorm che covenencs ` and egreements contained in thls Security Instrument, or there is a legel proceeding that may signiAcantly afle~t Lenders rights h the Property (such as a proceeding in bankruptcy, probate, for condenxtiation or to enforce lews or reyulations), then Lender may do and pay tor whatever is necessary to protect the value of the Property and Lendera rights in the PropeRy. Lender's actlons mey induda paying any sums secured by a lie~ which haa priority over this Security Instrument, appeering in court, payhg reasonable attomeys' teea and entering on the Property to make repairs. Atthough Lender may teke ac~Ion under thia paragraph 7, Lender doea not have to do so. My amounts ddsbursed by Lender under thls paragraph 7 shaN become ad~itlonal d2bt of Borrower secured by this Securit~? Mstrument. ~ Unless Borrower and Lender agree to other tem?s of payment, these anwunts shaN beer interest trom the dete of ~sbsusem~t et the Note rate ~ and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. ~ ~ h C ~5 a Paqe 2 01 4 ~ ~ = = ~n ~06199) 3a570 c i gooK674 P~E2270 '~~i-"; ~ ~ " r~:~4 _ Ysz~s"" " a"~:';s~ r - .t-r ~~s. ~~.;-~:~e~s,iri~.'~~.. fk~' ~ - , _:fi