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Home My WebLink About2527 UNIFORM COVf:NANTS. Burn~wrr ~nd 1_en~ler r~~venanc and ~gree as tulluws: 1. Payment of Principal and lnterest; Prepayme~c and Late Charges. Burn~wer ~h~ll prumpt:y pay- w•firn ~lur chr princip:~l uf and in[erest un ehe ~eb~ evidenced by che Nore and any prep:~ymrne and I~cechargrs.iue under che Nu~r. 2. Funds for Taxes and Insursnce. Subjecr tu applicable law ur cu a wricten waiver by l.ender, Burrua~er sh~ll p~y u~ 1_e~der un the day munchly paymencs are due under the Noce, uncil che Noce is paid in full, a sum l"Funds") equal u~ ~,ne-cwelf~h uf: (a> ye.~rly caxes and assessmenes which may attain priority uver chis Secvri~y Instrument; tb) yearly~ Irasehul~i p~ymenes or gr~und renes un ehe Pruperty, if any; (c) yearly hazard insurance premiums; :~nd (d) yearty mortgage insurance premiums, if any. These items :+re called "escrow items." t.ender may escimace che Fuads due~~n rhe basis t~f rurrent da~a and reasunable estim:~ces uf future escrt,w items. The Funds shall be held in an inscieution che deposits ur accuunes uf which are insured ur guaran~erd by a federal ur seace agency l including l.ender if Lender is such an ins~itutiun). I.ender shall apply che Funds tu pay the es;ruw items. l.ender may noc charge fur holding and applyi~g the Funds, analyzing che accounc or verifying che escruw icems, unless Lender pays Burrower interesc on che Funds and applicabte taw permits Lender co make such a charge. Burruwer and l.ender may agree in . wricing chat ineeresc shall be paid on che Funds. Unless an agreemenr is made or applicable law~ requires interesc to be paid, Lender shal! nut be required cu pay Borrower any interest or earnings un the Funds. Lender shall give w&urower, wichuuc charge, an annual aauunting of che Funds showing credics and debits the Funds and che purpose fur which each debic u~ che Funds was made. The Funds are pledged as addicional security for the sums secured by this Securiry lnserumenc. If che amounc of the f~unds held by Lender, togecher with rhe future munc:~ly payments of Funds payable prit~r ro the due daees of ehe escrow irems, shall exceed ehe amount requirecf w pay the esaow items when due, che excess shall be, ~c Born~we~'s upciun, eithrr prumprly repaid to Borrower or credicecf co Borrower un munthly paymencs of Nunds. !f the am~~unt of che Eunds held by Lender is nut sufficient tu pay che escruw items when due, Borrower sh~ll pay to 1_ender any amuunt necessary tu make up the deFicie~cy in one or mure payments as requirrd by Lender. lJpon payment in full of all sums secured by chis Securicy inscrumenc, Lender shal! promptly refund u~ Aurruwer any Funds held by l.ender. If under paragraph 19 che Property is sold or acquired by Lender, Lender shall apply, nu later than immec~iately prior tu che sale uf the Property ur its acquisicion by l.ender, a~y Funds held by I.ender ac che time uf applicaciun :~s a credic 3gainsc che sums secured by this Security Instrumenc. Application of Payments. Unless applicable law pruvides uehe~wise, all paymencs recei~•ed by~ Lender under para~raphs 1 and 2 shall be applied: first, lace charges due unJer che Note; secund, cu prepayment charges dur under che Nure; chird, to amouncs payabte under paragraph 2; fourch, cu interest due; and lasr, t~> principal due. Charges; Liens. Burrower shalt pay all caxes, assessmenrs, charges, fines and impositiuns attributable to the Pre,per~y which may attain priuriry uver chis Security Instrume~t, and leasehold paymencs or ground rencs, iE any~. Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on cime direccly tu che persun uwed paymenc. Burrower shall prompcly furnish tu Lender atl nocices uf amuuncs to be paid under this paragraph. If Born~w~er makes chese payments directly, E3~rrower shaN prumpcly furnish w Lender receiprs e~•idencing che payments. Burre~wer shall pn>mptly disrharge any lien which has priurity uver this Sectirity Instrumene un~ess B~~rruwer. la~ agrres in writinK ci~ che payment uf the ubligacion secured by che lien in a manner acceptable co Lender, tb) cuncescs in g~x>d faich che lien by, or defenJs againse enfurcemenc uf ehe lien in, legal proceedings which in che Lender"s upiniun opersce cu pre~~ent the enforcement uf che lien or forfeiture uf any part of the Pruperty; or tc) secures frum the holder of the lien an agreemenc satisfactury to Lender suburdinating che tien ru this Security lnstrument. If Lender detrrmines that any part uf the Pruperty is subject to a lien which may attain priority over this Security lnstrument, Lender may give Burrower a n~~tice identifying the lien. borruwer shall sacisfy the lien ur take une or more uf the actions set forth abuve within lU days ~~f the Kivinx ~~f n~~tice. 5. Hazard Insurance. Borrower shall keep the impruvements nuw existing ur hereafte: erecced un the Pruperty insured against loss by Eire, hazards included within the term "extended coverage" and any other hazards for which Lender requires insurance. This insurance shall be maintained in the amuunts and for che periocis that Lender requires. The insurance carrier pruviding the insurance shall be chusen by Borrower subject to Lender's appnrval which shall noc be unreas~~nably withheld. All insurance policies and renewals shal! be accepcable co Ixnder and shall include a standard morcgage clause. Lender shall have the right to he~ld che policies and renewals. [f Lender requires, Burruwer shall promptl~• give w Lender al! receipts i>f paid premiums and renewal nacices. In the evenc of loss, Borrower shall give prompc noeice w ehe insurance carrier and Lender. Lender may make prcwf of loss if nut made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance pruceeds shall be applied to restc~ratiun ur repair uf the Property damaged, if che restoraciun or repair is economically feasible and Lender's securicy is nut tessened. If c~e resu>ration or repair is nut economically feasib(e or Lender's security wo~td be lessened, the insurance pn>ceeds sha!! be applied to che sums secured by this Securicy Inscrument, whecher or not rhen due, R-irh any excess paid ro Burrower. If Be~rruwer abanduns the Property, or does not answer within i0 days a notice from l.ender that the insurance carrier has uffered [o setcle a claim, chen Lender may collect che insurance proceeds. Lender may use che prexeeds cu repair ~~r rescure ctie Prc~perty or cu pay sums secured by chis Securicy Instrumenc, whecher or nut then due. The i0-day periud will begin when che nucice is given. Unless Ler~der and B:~rruwer ~xherwise agree in writing, any application of prexeeds to prinnp~l shaU nut extend or puscpcme the due dace of che me~nthly payments referred to in paragraphs ! and 2 or change the amount uf the paymenrs. If under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance }wlicies and pr~xeeds resulcing from damage tu the Property priur n> che acquisicic,n shall pass u~ Lender co the extent uF che sums serured by chis Securic~• Inscrumenc immediately priur tu the acquisition. 6. Preservation and Maincenance of Property; Leasehoids. B~xruwer shall not descroy, damage or substancially change che Property, all~~w the Property tcj dereriurate c~r commit wasee. !f this Security Inscrument is un a leasehold, Burruw•er shall cumply wich the provisiuns of che lease, and if B~~rruw•er acquires fee title co the Prupercy, the leaseh~~td and fee title sha11 nut merge unless I.ender agrees to the merger in writing. 7. Procection of Lender's Righcs in the Property; Mortgage Insurance. If $orn~wer fails to perfe~rm the covenancs and agreements contained in this Security Instrument, or there is a legal proceeding that may significantty affecr Lender's rights in the Property { such as a pruceeding in bankruptcy, prubate, for cesndemnatic~n or roenforce laws or regulatiuns), ehen I.ender may do and pay for wharever is necessary to protect the value of the Property and Lender's righcs in the Property. Lender's actiuns may include paying any sums secured by a lien which has priuriry over chis Serurity lnstrumen~, appearing in cour~, paying reasonable accorneys' fees and entering on the Property co make repairs. Although Lender may ta4ce accion under this paragraph 7, Lender does nut have to du su. Any amounts disbursed by Lender under chis paragraph 7 shall become addici~nal debc of Sorruwer secured by this Security Instrument. Uniess Borrower and Lender agree to ucner terms of payment, chese amouncs shall bear inceresc from che dace of disbursemenc ac the Note rate and shal) be payable, wich inceresc, upon nocice frum Lender co Burrower requesting pavment. go~~ s?4 PacE2527 _ _ . - .r. a :~~~s.~~,~?~~~.~