The URL can be used to link to this page

Home My WebLink About2425 , UNIFZSRtd COVE~ANTS. BoROwer and ~ i covenant and agree es follows: ` ~ 1. Payment of Principal and Interest; Prepayment and Late Charges. eorrowe~ shall prompty Pay wnen due tne principal ot and interest on the debt evide~ced by the Note and prepayment and late charges dug under the Note. 2. Funds for Taxes and In€urance. SuSJect to app6cable law or to a written waive~ by Lender, BoROwer shaN pay to Lende~ on the day monthly payments are due under the Note, unUl the Note Is paid In fuN, a sum ("Funds'~ equal to one~twelRh of: (a) yeary taxes and ussessments which may attain prio~ity over this Security Instrument; (b) yearty ~easefiold payments or ground rents on the Property, if eny; (c) yearty hazard insurance premiums; and yearly mortgage insurance premiums, i( any. These items are caUed "escrow items." Lender may estimete the Funds due on the basis ot current data and reasonable eslimates ot future escrow items. The Funds shal be held fn an institution ihe deposits or accounts ol which are fnsured or guaranteed by a lederal or state agency (including Lender H l.ender is such an in'sGtution). Lender shaN apply the Funds to pay the esuow items. Lender may not charge tor hoiding and applying the Funds, analyzing the account or verifying the escrow items, unless Le~def pays BoROwer interest on the Funds and applicable taw permits Le~der to make such a charge. Borrower and Lender may agree in writing that fnterest shap be paid on the Funds. Unless an agreement is made or applicable law requires intdest to be paid, lender shaq not be requued to pay BoROwer any interest or eamings on the F~nds. Lender shaU give to Borrower, without charge, an annual accounting ot the Funds showing credits end debfts to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for the sums secured by by this Secxirity InsVument. If the amount of the Funds held by Lender, togelher with the luture monthly payments of Funds payable prior to the due dates of the escrow items, shaY exceed the amount requ'red to pay the esaow items when due, the excess shaN be, at BoROwer's option, either prompUy repaid to Borrower or credited to Borrower on monthy peyments of Funds. H tfie amou~t oi the Funds held by Lender is not suffiaent to pay the escrow ftems when due, BoROwer shall pay to Lender any amount necessary to make up the ~efiaency ln one or more paymenis as required by Lender. Upon payment in tuq oi atl sums secured by thts Securiy Instrument, lender shaA prompUy relund to Borrovrer eny Funds held by lender. !t under paragraph 19 the Property is sold or acquired by Lender, Lender shaq appy, no later than irtunediately prior to ihe sale ot the Piroperty or its acquisition by Lender, any Funds held by Lender at the time of appGcalion as a credit against the sums secured by this Security Instrument. 3. Application of Payments. Unless applicable law provides othervvise, al! paymenis 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, to amounts payable under paragraph 2; fourlh, to interest due; and last, to prinapal due. 4. Charges; Liens. Borrower shaN pay all taxes, assessments, charges, fines and impositions attnbutable 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 'rf not paid in that manner, Borrower shaN pay them on time directly to the person owed payment. Borrower shaq premptly fumish to Lender all notices of amounts to be paid under this paragraph. Ii BoROwer makes these payments direcUy, BoROwer shaN prompty tumish to Lender receipts evidencing the payments. Borrower shaU prompUy discharge any Gen which has prarity over :his Securiry Instrument unless Borrower. (a) agrees in `writinq to the pay- ! ent of the obligation secured by ihe lien in a manner acceptabte to Lender, (b) contests ~ good faith the qen by, or deiends against entwc~ ment of the G~ in, lega! proceedings which in the Lender's opinion operate to prevent eniorcement ot the Gen or torteiture of any part of the Property; or (c) secures from the holder of the 6en an agreement satisfactory to Lender subordu~ating the Gen to this Security Instrument. It Lender determines that any part oi the Propeiiy is subject to a 6en which may ariain p~iority over this Security Instrument, Lender may give Borrower a notice identiiying the lien. BoROwer shall satisty the lien or take one or more oi the actions set forth above wiihin 10 days of the 5iving ot notice. 5. Hazard InSUrBnCe. Borrower shall keep the improvements now existing or hereaiter erected on the Property insured against Ioss by fire, hazards included within the term "extended coverage" and any other hazards tor which Lender requKes insurance. This insurance shaN be maintained in the amounts and tor the periods that Lender requires. The insurance carrier providing the insurance shatl be chosen by ; Borrower subject to Lender's approval which shall not be unreasonably withheld. ~ All insurance poGaes and renewals shall be acceptable to Lender and shall include a standard mortgage dause. Lender shaA have the right ~ to hold the policies and renewats. Ii Lender requires, BoROwer shall prompUy give to Lender atl receipts of paid premiums and renewal notices. ~ In the event oi loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proot of I~ss ii not made prompUy by Borrower. ~ Unless Lender and Borrower otherwise agree in writing, insurance proceeds shaU be applied to restoration or repaK ot the Property damaged, E if the restoration or repair is economical!y feasible and Lender's security is not lessened. tf the restoration w repair is not economically teasible ar Lender's security would be lessened, the insurance proceeds shall be app6ed to the sums secured by this Security InsVument, whether or ` not then due, with any excess paid to Borrower. If Borrower abandons the Property, or does not enswer within 30 days a notice irom Lender i ~ that the insurance carrier has oNered to settle a daim, then Lender may coqect the insurance proceeds. Lender may use proceeds to repair ~ ~r restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day period wiU begin whe~ the ~ notice is given. Unless Lendef and BoROwer otherwise agree in writing, any application of proceeds to prinapal shall not extend or postpone the due date ~ of the month ents referred to in ara ra hs t and 2 or chan e the amount ot the ents. If under a ra h 19 the Pro is ~Y PaY~'~ P 9 P 9 PaYm P~ 9 P P~Y ~ acquired by Lender, Borrower's right to any insurance poliaes and proceeds resufting hom damage to the Property prior to the acquisition shall pass to Lender to the e~ctent oi the sums secured by this Security InsVument irtunediately prior to the acquisilion. ~ 6. Preservation and Maintenance of Property; Leaseholds. Borrower shafl not destroy, damage or substantially change the Property, allow the Property to deteriorate or commit waste. Ii this Secxirity Instrument is on e leasehold, BoROwer shap comply with the ~ provisions of the lease, and H Borrower acqu;res fee title to the Property, the leasehold and tee tiUe shaq not merge unless lender agrees to the merger in writing. ~ 7. Protection of Lender's Rights in the Property; Mortgage Insurance. ~t BoROwe. tai~s to pertorm the covenants and agreements contained in this Security Instrument, or there fs e lec~al proce~ng that may significantly aftect Lender's rights in the Property ' (such as a proceeding in bankruptcy, probate, for condert?nation or to enforce laws or regulations), then Lender may do and pay tor whatever is necessary to protect the value of the Property and Lender's rights in the Property. Ler+der's actions may include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying reasonable ariomeys' fees and eniering on the Property to make repairs. Although Lender may take action under this paragraph' 7, Lender does not have to do so. ~ Any amounts disbursed by Lenrler under this paragraph 7 sha{I become additional debt o( Borrower secured by this Security Instrument. i Unless Borrower and Lender agree to other terms oi payment, these amounts shall bear interest irom ihe date ot disbursement at the Note rate ~ and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. ~ ~ ~ r ~ Page 2 of ~ /~:~~(~~'yy~ ~ s - -~::?.cn ~oa~es~ s~a ~ 7t-' : i. ~ ~ ~ ~ ,,t,l~ r„G~ 2790 ~ V f BOOM ~7~ PA~E2425 ~ ~ ~ ' ~ r~,»-`S 't ,~,e*.,.,r~-~#c~.;:, ~ x ~,~=,.~~~-T. ~~s~.~'~'~i5~.." `~~~~f's-~~~~~sa~Rf'l'i.r"rc~°~~ . . _