The URL can be used to link to this page

Home My WebLink About0021 l~It ~~K~~ C~?~ f~;,~` ~ s liurn~«cr xnd Lrneler ~•ucznant and agrre a, iulluu,: 1. Pa~ment of Yrincipal and Interest; Prepa~ment and I,ate Ch~rKes. B~~rroHer ~hall rrumE~tl~ E~a~ ~~hrn ~iur th~ ~rtin~i~at ~~iancl intrre~t ~m the debt e~ ideiirrd by the Note and any~ pre~a~ment and late ~har~;r~ dur und~r the \utr. 2. H unds for Taxes and Insuranee. Subject to applicable la~~ or to a~~~ritten w aiver h} l.encler, 13c,rru~<<r tihall ~a~ tc~ L~n~irr ~m the d.+y m~mthl}~ ~aymrnts are eiue under the Nc~te, until the Nc~te i~ paid in futl, a~um ("F~und,") eyuul t~~ ~,nr-t~~rlfth of: (a) ~earl~~ ta~et and a~sessments w~hich may ~ttain priority o~~r this Serurit}~ In~tru~iient; lh) ~~arl~ lea~ehuld ~a~m~nts c~r ground rents on ihr Pro~xrty, if any; (r) yearly haz~ir~i in~urance rremiums, and (d? }rar?~ nu~rtgage insurance premiun~s, ii' ~n}'. Thrtie items are called "escrow• items." Lcnder ma~~ r~timate the F=und~ due on the h~i~is ~~f rurrent data and reas~~nable estimate, of future esrrow• items. The Fund~ shail tx held in an imtitution the de~tiits or accounts of w~hich are imueed or guaranteed b~ a federal ~~r ,tate agenry~ (including Lender if Lender is such an institution). Lender shall appty~ the Fund~ to pa~~ the esrro~~~ it~m~. Lender may nc~t rharge for holding and applying the Funds, analyzinR the account or verif~~in¢ the eticrc~w~ it~~m~_ ~~niF~~~ ~rn~irr ~~ayti i~urmw~er ~nterest on ttte runds and appiicable iaw permits Lender to make such a charge. Borro~~~er and l.~nder may ~gree i~i writing tfiat interest shall be paid on the Funds. Unless an agreemrnt is made or applicable IaH reyuires intere~t to tx~ ~aid, Lender shall nat be reyuired So pa}~ BorroW~er any interest or earnin~s on the Funds. Lender sh311 gi~e to Bc~rro~er, without charge, ~n annual accounting of the Fur,ds ~ho~i•i~ig credits and dcbits to the Fundti and the purpose for whirh each debit to the Fundti ~vati made. The Funds are pledged as additional security fi~r the sum~ secured b~ this Sccuritp Instrument. If tiie amount of the Fundt held b}~ Lender, together w~ith the future monthl}~ pa}~ments of Fund~ pa~ahlr ~rior t~~ the due dates of the eticrov~ items, shaN exceed the amount required tc~ pay the escru~v items when due, the excrts shall be, at Borroa~e:'s option, either promptly~ repaid to Bormwer or credited to Borrower on monthiy payments ~f Funds. If the amuunt of the Funds held by Lender is not sufficient to pay the escrow items w•hen due, Borrow~er shall pay~ to Lender an~~ amuunt nece~sar}~ to make up the deficiency in one or more payments as required by Lender. Upon pa~~ment in full of all sums secured by this Security Instrument, Lender shall promptl~~ refund to Borrow~er any Funds he{d hy~ 1_ender. If under paragraph 19 the Pro~rty is sold or acyuired by Lender, Lender shall appl}•, no later than immediately p~ior to thc tiale of the Pruperty or its acyuisition by Lender, any Funds held b}~ Lender at the time of application as a credit against the sums secured by this Security Instrument. 3. Application of Payments. Unless applicable law~ provides otherw•ise, all payments recei~~ed b~~ Lender under ~aeagraphs 1 and 2 shall be applied: first, to late charges due under the Note; serond, to prepayment charges due under the tiote; third, to amounts pa}~able under paragraph 2; fourth, to interest due; and last, to principal due. 4. Charges; Liens. Borrow~er shall pa}• all taxes, assessments, charges, fines and impositic~ns ~~ttributabte to the Ympert}~ w~hich rna}• attain priority over this Security Instrument, and teasehold pa}•ments or ground rents, if an~~. f3orrower shall pa}• these obligatiom in the manner provided in paragraph 2, or if not paid in that manner, Borsower sha11 ~ay them on time directly to the person owed payment. Borrower shall promptl}• furnish to Lender all notices.of amountx tc~ be paid under this paragraph. If Borrow~er makes these paS~ments directly, Borrower shall promptl~~ furnish to I_ender r~ceipts evidencing the paymems. Borrower shall promptly discharge any lien w~hich has priorit~• over this Securit}• Instrument unless Borro«~er: (a) agrec~ in writing to the payment of the obligation secured by the tien in a manner acceptable to Lender, (b) contests in good faith the lien b}~, or defends against enforcement of the lien in, legal proceedings which in the Lender's npinion o~rate tu {~revent the enforcement uf the lien or forfeiture of any part of the Property; or (c) secures from the holder of the Hen an ~igreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines thai an~• part of the Pruperty~ is sub}ect t~ a lien which may attain priority over this Securit}' Instrument, Lender ma~~ gi~~e Borrow~er a ~ r~ntice identif}•ing the lien. Borrower shal! satisf}~ the Iien or take one or more of tfie actions set forth above within 10 da}~s ~ ~~f the giving of notice. f 5. Hazard Insurance. Borr~~w~er shall keep the improvements now~ existing or hereafter erected on the Propert~• intiured against loss by fire, hazards included within the term "extended coverage" and any other hazards far a•hich Lender c<yuires insurance. Thiti insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance sha{1 be chosen by Bo*rower subject to Lender's approval w•hich shall not be unreasonably withheld. ~ All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. I.enelrr tihall ha~e the right to hold the ~olicies and renewals. If Lender requires, Borrow~er shall promptl~~ give to Lender ~ ~~fl receipts of paid premiums and renewal notices. In the event of loss, Borrower shall gi~~e promnt notice to the insurance € ~cirrier and Lendec. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance prcx:eeds shatl be applied to restoratian or repair ~ the Property damaged, if the restoration or repair is economically feasib(e and Lender's security~ is not lessened. tf the ~ restoration or repair is nat eronomically feasible or Lender's security would be lessened, the insurance proceeds shalt be ~ ;~pplied to the sums secured by this Security Instrument, whether or not then due, with an}~ excets paid to Borrow~er. If ~ E3osrower abandon~ the Property, or does not answer within 30 day's a notice from Lender that the insurance carrier has ~ ~~ffered to settle a claim, then Lender may collect the insurance prcxeeds. Lender ma}~ use the proceeds to repair or restore ; the Property or t~ pay sums secured by this Security Instrument. ~vhether or not then due. The 30-dav r,Princi ..~~li h~o~., ; i~rn tne n~nice is gi~~en. Unlsss Lender and Borrower otherw~ise agree in writing, any application of ~roreeds to principal shall not extend or ~rnt~ne the due date of th: monthly pa~ ments referred to in ~aragraphs 1 and 2 or change the amount of the pa~~ments. If under paragraph 19 the Prcperty is acquired by Lender, Borrow~er's ri~ht to an~• in,urance ~~olicies and proceeds resulting t'rom damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured b}~ this Securit~~ I nstrument immediately prior to the acquisition. 6. Preservation and `laintenance of Property; Leaseholds. Borrow~er shall not destro}~, damage or substantiatly~ ~hange the Property, allow the Property to deteriorate or commit w~aste. If this Securit~~ (nstrument is on a leasehold, ' f3orrow~er shatl comply~ w•ith tiie pravisions of the lease, and if B<~rrow•er acquires fee title to the Pro~ert}~, the leasehc~ld and fee title shall not merge unless Lender agrees to the merger in writing. . 7. Protection of Lender's Rights in the Property; '~tortgage Insurance. IS Bormw~er fails to perform the ~o~ enants and agreements r~ntained in this Securit}~ Instrument, or there is a le:gal pre~ceedi?ig th~at ma~ Si~niFcantl~~ affect Lender's rights in the Pro~rt}~ (su:h as a proceeding in bankruptcy, probate, for condemnation or t~ enforce laH~s or rrguiati~ns), then Lendcr ma}~ do and pay f~r whatever is necessar~~ to protect the ~ alue of the Propert} and Lender's rights in the Propert}. Lender's acti~ms ma~• include pa}~ing an}~ sum~ secured b~~ a lien w~hich ha~ priorit}~ over this Serurit~- Instrument, ap~earing in ~ourt, paying reasonable attorne~~s fees and entering on the Propert~~ to make re~airt. Although ' Lender ma~~ take action under this ~aragraph 7, Lender dat~ not ha~~e to do sa. , Am amc~unts disbursed h}~ Lender under this ~aragraph 7 shall become add~tional debt of E3<~rrc~wer secured h~ this 5rrurity Instrument. (;nle~s B<~rrc~w~er and Lerder agree to other terms of pa}ment. thetie amc~untti sh~ll bear intere~t frc,m . . tfie date c~ti di~hursement at the tiote r~te and shall be ~ay~able, N~ith intere~t, up<m n~tice frc~m Lender to E3<~rr~~ter ' r<yuestin~ pa}ment. ~ 6ooK 6i5 P~~ 021 - - - ~ ~ ~F~`-~