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Home My WebLink About0149 l~~l~ ~~R~1 ('i>~ t~,~~ I~ tiurn~Her and l.en~lrr ~u~enant an~1 agrrc a~ t~,ll~,~~, 1. Payment of Yrincipal and Interest; Nrepa}ment and I.ate CharKes. t3urn~~~rr ,h:~ll ~~n~m~-~~1~ ~~h~~n ~iur thr ~nnrip~il ut and inlcrc~t on Ihe debt e~~denrrd b~ (he ~Iotr and any ~re~a~ ment and iatr rh,ue,r; ~fur un~lrr th~ \utr 2. F'unds for 7'axes and Insurance. Subjert t~~ applicahle I~N ~~r t~~ a~~ nttrn ai~ ~r h~ Lrn~lrr, t3~~rn~~~rr ,li,ill }~:i~ t~~ I.enc~rr un the ~ia~ mcmthly~ pa}~ment~ arr due under the Nc~te, until the tiiite iti ~aid in full, .i .um ("Fun~i.") ryual tu une-twelfth of: yearly taxe~ and ~i~s~~~~~~irnts which muy attain pri~~rit} ~ncr this Secunty lmtrunirnt: Ih) }earl~ le~isehe~ld pa~•ment~ e~r ground rents on the Yroperty, if an~~; (c) ~~earl~~ harar~f in,ur~nce ~remium.; an~i Id1 ~carl~ m~~rtgage imurance ~remium~, if an}~. Theu items are ralled "escm~~ itemti." L~nder rna~ r~um:ite the Funei, dur ~,n thr ha~i~ uf current data and reasonahle estimatc~ of future escruw items. The Funds shall tx held in an institution the de~o~its or arcountti of w~hinc ~~re ~n~urrd ~~r guarantred h} a federal ~~r ~tate agency (including Lender if Lender is such an institution). Lender shall ap~l~ the Fund~ tu pa~ ;he r,rm~~ itcm.. Lender m;~y not rharge for h~~lding and applying the Funds, analyzing the account ~~r ~erif~ing the etic~o~? itrm~, unlr~~ Lender pays Borrow•er interest on the Funds and applicable law• permits Lender to make wch a rharge. B~~rro~~rr and Lender may agree in w~riting that interest shall be paid on the Funds. llnless an agreement is made or applirablr I.i« requires interest to be paid, Lender shall not be reyuired ro pa~• Bc~rrower an~ interelt ur earningti c~n the Fundti. Lendrr shall gi~e to Borrow~er, u~ithout charge, an annual accounting of the Fur.ds show~ing rredit~ and drbitti tc~ the Fundti and thr pur~se for which each debit to the Funds was made. The Funds are pledged a~ additiunal ~ccurit} f~,r the tium. securcd b~ this Security Instrument. If the amount of the Funds held by Lender, together with the future monthl~~ pa~~ments of Funds pa~~ahle pri~~r tc~ the due dates of the escrow items, shall exceed the amo~~nt required to pa~~ the escrow~ items w~hen due, the exce~~,hall bc, at BorroH•er's option, either promptly repaid to Borro~•er or credited ro Borrower on monthl~~ payments af Fund.. If tfi~ amount of the Funds held by Lender is not sufficient to pay the escrow items w•hen due, Borrow~er shall pa~~ to Lender ;~n~ amount necessary to make up the deficiency in one or mure payments as required by I_ender. U~n paymenc in full of ali sums secured by this Security Instrument, Lender shall promptl~ refund to Borro~ti~er any Funds held by Lender. If under paragraph 19 the Property is sold or acyuired by Lender, Lender shall appl~~, n~> later than immediately prior to the sale of the Property or its acquisition by Lender, an}~ Funds held b}• Lender at the time ~~f application as a credit against the sums secured by this Security Instrument. 3. Applieation of Payments. Unless applicable law pro~~ides otherH•ise, all payments recei~~ed b~~ I.ender undrr paragraphs 1 and 2 shall be applied: first, to late rharges due under the Note; second, to prepa~~ment charges dur under the tiute; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due. 4. Charges; L.iens. Borrower shall pay all taxes, assessments, charges, fines and im~sitions ;~ttributable to the Property w•hich may attain priority over this Security Instrument, and leasehold pa}~ments or ground rents, if an}. Sorrow•er shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall p~y them on time directly to the person owed payment. Borrower shall promptly furnish to Lender all notires of :~mouizt~ ! to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall prompt!}~ furnish to Lender ~ receipts evidencing the payments. Borrower shall promptly discharge any~ lien w~hich has priority over this Security Instrument unless B~rm~~er: (a) i agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, (b) contests in g~x~d ~ faith the lien by, or defends against enforcement of [he lien in, legal proceedings which in the Lender's opinion operate to ' pre~~ent the enforcement of the lien or forfeiture of any part of the Property; or (r) secures from the holder of the lien an ~ agreement satisfactory ta Lender subordinating the lien to this Security Instrument. [f Lender determines that an}~ part af ~ the Property is subject to a lien which may attain priority aver this Security~ Instrument, Lender may gi~e Borruwer a notice identif}~ing the lien. Borrower shall satisfy~ the lien or take one or more of the actions set f~~rth abo~e w~ithin 10 da~~s ~ of the giving of notice. ~ 5. Hazard Insurance. Borrow~er shall keep the improrements naw existing or hereafter erected on ihe Propert~ insured against loss by fire, hazards included within the term "eatended co~~erage" and an}~ other hazards for which Lender ~ reyuires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The ~ insurance carrier providing the insurance shal) be chosen by Bo~rower subject to Lender's appro~ al which shall nc~t be unreasonably w~ithheld. ~ All insurance ~licies and renewals shall be acceptable ta Lender and shall include a standard mortgag: clause. ~ Lender shall have the right to hold the policies and renewals. If Lend~r requires. Borrawer shai) promptl~~ gi~~e to Lender all receipts of paid premiums and renew~a! not~ces. In the event of loss, BorroH~er shall gi~~e prompt notice to the insuranre ~ carrier and Lender. Lender may make proof of loss if not made promptly b}• Borrower. Clnless Lender and Borrower otherw~ise agree in writing, insurance proceeds shall be applied to rectoration or rep~ir ~ ~~f the Property damaged, if the restaration or repair is eeonomicall}' feasible and Lender's securit}~ is not lessened. If the ' restoration or repair is not economically feasible or Lender's security wauld be lessened, the insurance proceeds shall be k applied to the sums secured by this Security Instrument, whether or not then due, H~ith an}~ excc~s paid to Borroaer. If ~ Borrower abandons the Property, or does not answer within 30 day~s a notice from Lender tha! the insurance carrier has z offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore ~ the Property or to pay sums secured by this Security Instrument, w•hether or not then due. The 30-da~• period ~cill begin ~ w hen the notice is gi~~en. = C?nless Lender and Barrow~er otherw~se agree in w~riting, an}• applicati~n of ~r~xeeds tc~ principal shall not extend <~r ` potit~ne the due date of the monthly payments referred ro in paragraphs 1 and 2 or change the amount of the pa~ ments. If ~ under paragraph 19 the Property is acquired by Lender, Borrow~er's right to an}~ insuranre ~~oliries and proceeds rewlting from damage to the Propert}• prior to the acquisiti~n shall pass ro Lender tc~ the extent ~f the wms ~ecured b~~ thi~ Securit~ g Instrument immediatel~~ prior to the acquisiti~n. J ~ 6. Preservation and 1laintenance of Property; Leaseholds. Borroarr sha~l not de~troy, damage or substantial!~ ~ ~hange the Propert}~, allow~ the Propert}~ ta deteriorate or commit «~aste. If this Securit} In~trument ~s on a leaseh~ld. f3c~rrower shall compl}~ aith ti~e prrnisions of the lease, and if Borrow~er arquires fee title tc~ the Yropert}, the leasehold and fee title shall not merge unless Lender agrees to the merger in w•riting. 7. Protection of 1.ender's Rights in the Property; ~tortgage Insurance. If f3c~rrow~er fails to ~erfc~rm the c~~~enants and agreements cc~ntained in this Securit~• Instrument, or there is a legal ~rc~cerding that ma} signifirantl~ affert Lender's right~ in the Yrc}p;rt}~ (such as a prcxeeding in bankruptr}~, probate, for c<~ndemnation or t~ enfc~rce la~~ti c~r regulatic~ns), then Lendrr ma}~ da and pay for w~hate~er is necessary~ to pmtect the ~~alue of the Ym~ert~ ar.d Lender'1 right~ in the Propc:rh. Lender's ~etiems may include pa~•ing any sums secured b~ a lien w~hich ha~ ~ri~~ritc e~~er this Serurit} Intitrument, ap~eanng in court, ~a~~ing reasonable attorne~•s' fees and entering ~n the Pre~~ert} t<~ make re~air~. Afthe~u~:h Ixnder ma~ take acti~n under this paragraph 7, Lender does nc~t ha~ e to ~o so. An~ am~~unts ditibur~ed t~~~ Lender under this paragraph 7 shalf become additional debt ~~f f3ormuer tiecurrd h~ thiti Serurit} Instrument. [.'nless B;,rrc~wrr and Lender agree to other terms of ment, thetie am~~unt~ ~hall hear intere~t tr~~m the date c~f dishur~ement at the ~c~te rate and shail be pa~able, Nith ir.terest, u~~~n n~mce fn~m Lr~der t~, B~,rrc~~c~r reyue~ting ~a~ment. Y 9oRK 675 FaGE 149 _ _ _ : . . . ~~•T ~::.s~vmf_~ec:+.i- ?-ym4~-.~.~r-~.saSt~'z+:a;-°.c.6e2~+Gic~~~n.~' ~EX.'~