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Home My WebLink About0803 . . , . t ~'.,~~{~u4: t~i~~ t \3!!~ t~•~...'.s:: :c::~.~.:i::..,. ; `.~t ~ 1. Payment of Principal and Interest; Prepayment bnd Latc ('harKes. I;urr~~~~~r ~h.ill ~~r~~mE~tl~ ~~a~ Hh~~n .iur i the pnr~ripal of and interest un thr ~irbt r~ i~iencr~i b~ the \~otr and an~ ~rr~:~~ mrnt an~i latr ~ h.~r~;r, .iue un~rr ~hr \~,tr j 2. Funds for Taxes and Insurance. Suh~e~t tu applicahlr law ur tu a wnurn Hai~rr h~ l rn.lc r, Rurr.~Hrr .h.ill ; to Lender on the day monthly paymcntti urr due under the Nute, unnl the ti~~te i~ paid in full, a~wn ("f~!,nci,") ryu:~l t~~ ~ une-twelfih ot~ (a) )rarly t~xe. and a,~rtitirrient, Nhirh ma~ attain pri~~nt~ ~~~er thi~ Se~uril~ In~~rumrnt, (h) ~rarl~ ~ leasehold paymentt or gruund rentti on ~he Pro~erty, ~f any; (c) ye3r1~ har~r~i in,uran~r ~~rr~nium,: .?~?d (d) ~rarl~ mortgage ~nsuranre prem~um~, if an~. Thr~r item~ ~ire ~alled "r~rn~w itrm~." Lrn~lrr ma~ r~umatr thr I~un~l~ dur ~m thr bas~s of current data and reasunable eshmate~ ~~f f~uture rsrrow~ itrms. - Ihe Fu[ld~ ~h,?II hr hrW in an in.titutiun the Jc~x~.it~ or :~rr~~unt, ut ~~hirh arr imurr~l ur guaranter~ h~ a fr~lera! ur ,tatr agrnc~ (inrludin~; l end~r if Lender i,.urh an in~titutionl- Lrndrr,hall ap~l~ thr t~?,~~a. <<~ ~a~ thrr,~n~~~ itrm,. t~n~1rr , m.i~ nut charg~ !ur h~~l~ling and ap~l~ing the f=unJ., :~nal~ iing thr arruunt ur ~rrit~ ing thr r,cn~~~ item., unlr„ Lrrnlrr p:i~. 13urru~+rr interr,t un thc t-und, and applirable laH permit~ l ender to makr .urh .t ch.trge. A chargr a..e..rd b~ l.rn~irr in iunnc~tiun ~~ith k~~rro~~rrs'rntrnng ~nt~~ thi. ti~YUrit} Imtrument tu pa~ thr cu~t uf an indrpen~lrnt tax rrr~~nin~;.rnirr .hall nut tx~ a ~hargr f~~r ~ur~~~,e. ui thr prereding .entenrr. &~rru~~rr and I.~n~1rr ma~ agree ~n ritin~ that intrr~.t ~hall tx ~a~~i ~,n the t-und~. l'nle,~ .in agrccmrnt i. ma~Jr ur applic,iblr laH reyuirr~ intrr~,t tu he paiJ, l rn~lrr.hall nut tx rryuircd tu ~.i~ Bc,rrv~~er an} intere,t ur earnink, ~,n thr Fun~1>. Lrt~~lrr ~hall gi~r tu Burm~~rr. ~~ithuut ctiar~c. an annual arcuuntinR ~~t the f~un~1. ~hutiing rrrdit, a?id ~1rh~t, t~~ thr t-und, an~1 the purpo~r tc~r ~~hich ~a~•h Jrhit t~~ th~ t-un~1, ~~a. t~ri~lr. I h~ Fun~1, .irc plr~lged a, ad~litiunal ururit~ fur thr ,um. xcurr~l b~ thi, tircurit~ In.trunirnt. If the amount of the Funds held by Lender, together w~ith the future monthly paymenlti of Fundti pa~~able prior t~~ the due dates of the escrow items, shall exceed the amount reyuired to pay~ thr escrow• itemti w hen due, the exres> >hall be, at Borrow~er's option, either promptly~ repaid te~ Borrower or rredited to B~~rrower on munth{y pa~~ments uf Funds. U the amount of the Funds hetd b~~ Lender is not suffic~ent to pay the etirrow~ items w~hen due, Borrou~rr shall pay~ tc~ Lender an}• amount necessary ta make up the deficiency in one or more payments as reqwred b}• Lrnder. Upon payment in full of all sums secured b~~ this Serunty Instrument, Lender shall prumptly refund to Borrower any Funds held by Lender. If under paragraph 19 the Property is sold ~~r acyuired by Lender, Lender shall apply~, no later than immediately prior to the sale of the Praperty or its acquisitiun by Lender, an~ Funds held by L.ender at the time of application as a credit against the sums secured by this Security Instrumrnt. 3. Application of Payments. Unless applicable law• provides otherwise, all pa~~ments recei~ed b~~ Lender under paragraphs t and ? shall be applied: first, to late charges due under the Note; second, to prepa~•ment charges due under the tiote; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due. 4. Charges; Liens. Borrower shail pa~ all taxes, as~essments, charges, fines ~nd im~sitions attributable to the Property a~hich may attain priorit} ~ner this Serurit~~ Instrument, and leasehold payments or ground rents, if an~. t3orrower shall pa~~ these obligations in the mannrr provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time directly to the person ow~ed payment. B~~rrow~er shatl promptly furnish to Lender all notices of amounts ~ to be paid under this paragraph. If Bormwer makes these pa~~ments dirertl}~. Borrower shall promptly furnish to Lender receipts evidencing the pa}~ments. Borrower shall promptly discharge an~ lien whirh has pnont~~ o~~er this Securit}~ Instrument unless Borrower. (a) agrees in writing to the payment of the obligauon .erured b~~ the lien in a manner acceptable to Lender; (b) contests in good Faith the lien by, or defends against enforcement of the I~en in, legat prcxeedings w•hich in the Lender's apinion operate to prevent the enforcement of the lien or forfeiture ~~i any~ part uf the Pro~rty; or (r) secures fron~ the holdeS of the lien an , agreement satis(acrory to Lender subordinahng the lien to this Security lnstrument. If Lender determines that an}~ part of ~ the Property ic subject to a lien which may attain priorit~~ o~er this Serurity Instrument, Lender may gi~e Borrow~er a notice identi~ying the lien. Borrower shall satisf} the lien ur take une ur m~~re uf the actic~ns ~et fe~rth atx~~ e w~ithin 10 da~~s of the giving of nc>tice. 5. Hazard Insuranee. Borraw~er ~h;~ll keep thr impro~ement~ nc~w exitiung c~r hereaRer erecred on the Yropert}~ I insured against ioss by fire, hazards ~nrluded w~ithin the term "extended cin~erage" and an}~ other hazards for which Lender reyuires insurance. This insuranre shall be mainta~ned ~n the dmountti and for thr periods tha~ Lender requires. The j insurance carrier pro~iding the insurance shall be che~tirn hy Borr~~wer wb~ect t~, Lender's appro~al which shall not be ~ unr~asonably withheld. i i All insurance policies and renewals ~hall be arceptahle te~ Lendrr and ,hall include a 1tarid•a:d mortgage clause. Lender shail ha~~e the right to hold the ~lir~es and renewals. If Lender reyuires, Borrow•er shall promptly give to Lender all receiPts of paid premiums and renew~al nohres. In the e~ent of los., Borrawer shall give prompt notire to the insurance ' carrier and Lender. Lender may make proof of loss ~f not made promptly b~ BurroH~er. Unless Lender and Borrower otherK~ise agree in w~riting, insuranre ~rcxeeds shall be a~plied to restoration or repa~r uf the Property damaged, if the restoration or repair is economicallp feasible and Lender's security is not lessened. If the F restoration or repair is not economically feasible or Lender's security w~ould be lessened, the insurance proc:eeds shall be ~ applied to the sums secured by this Security Instrument, whether or not then due, u~ith anp excess paid to Borrower. If ~ Borrower abandons the Property, or dces not answer w~ithin 30 da~~s a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender ma~ use the proceeds to repair or restore ~ the Property or to pay sums secured b~~ this Securit}~ Instrument, whether or not then due. The 30-da~• period will begin ~ when the notice is given. ~ Unless Lender and Borrower otherw ite a ree in w~rit~n ar~ a lication af roceeds to nnci al shall not extend or ~ 8 R~ " Y PP P P P ~ postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amaunt of the pa}~ments. If ; under paragraph 19 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resuliing ~ from damage ro the Property prior ro the acquisition shall pass to Lender to the extent oi'the sums secured by this Security ~ [nstrument immediately prior to the acquisition. ~ 6. Preservation and Alsintenance of Property; Leaseholds. Borrower shall not destroy, damage or substantially change the Pruperty, allow the Property to deteriorate or commit waste. If this Security Instrument is on a leasehold, Borrower shall comply with the provisions of the lease, and if Borrower acquires fee title ro the Property, the leasehold and fee title shall not merge unless Lender agrees to the merger in a•riting. 7. Protection of Lender's Rights in the Property; Mortgage tnsurance. If Borrok~er fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may~ significant!}~ afTect Lender's rights in the Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of tne Property and Lender's rights in the Property. Lender's actions may include paying any sums secured b}~ a lien which has priority o~er this Security lnstrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Alth~ugh Lender may take action under this paragraph 7, Lender does not have io do so Q Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrow~er secured by this Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shal) bear interest irom ~ the date of disbursement at the N~te rate and shall be payable, with interest, upon natice from Lender to B~rroa~er ~ x requesting payment. € ~ DooK 675 ~~E 803 f. - ~ ~