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Home My WebLink About1426 UN!FQfiM COYENANTS. Ba:ro~+er and Lendcf ca.cnani snd sy~es as f~~~~s: i. Payment of Principal and fnterest; Prepayment and Late Charges. Borrowe~ shau prompcry pay when due the pnncipal of and interest on the debt evidenced by the Note and prepayment and Iste charges due under the Note. 2. Funds fo~ Taxea and insurancs. Subject to app~cabla Iaw or to a writteR wah~er Dy lerder. B~row~r st,a~t pay to ~~+,cser on the day monthly payments are due under the Note, until the Note is paid in fuM, e sum ("Funds'~ equal to on~twelfih of: (a) yearly iaxes ar.d assessmenis which may attaln p~iority over thia Seauity InsUument; (b) yearfy IAesehoid payments or ground rents on the Propeity, if any: (c) yeaAy hazard insurance premivms; and (c~ yearfy mortgage insurance premiuma, M any. Thase items are caNed "escrow ftems." Lender may estimate the Funds due on the basis oi cuRent data and reesonable estimates of tuiure esaow items. The Funds shaN be held ~ an hstitution the deposfts or accounts of whfch are insured or guaranteed by a federal or stete agency (induding Lendei 'rf Lender is such an institution). Lerider shaY apply the Fu~ds to pey the esaow items. Lender rray not charge fa holding and applying the Funds, analyzing the acxwunt or veritying the esaow items, unless lender pays Borrower interest on the Funds end appiicable law permits Lender to meke such a charge. Borrower a~nd lender may agree in writing that interest shall be paid on the Funds. Unless an agreement is made or applicable law requires interest to be paid, Le~der shal ~ot be required to pay BoROwer any interest or eamings on the Funds. Lender shak give to Borrowex, without charge, an annual aceounting of the Funds showing cred'Rs and debits to the Funds end the purpose for wh~h ench debit to the Funds was made. The Funds are pledged as ad~itional securiry tor the sums sec:ured by by ihis Security instrument. If the amount oi the Funds held by Lende?, together with the future monihly peyments of Funds payable prior to the due ciates of ihe escrow ftems, shaN exceed the amount requked to pay the esaow items when due, the excess shep be, at Borrower's oplion, eithex prompUy repaid to Borrower or credited to Borrower on monthiy payments o( Funds. If the amount of the Funds held by Lender is not suffiaent to pay the esaow Kems when due, Borrower shs~ pay to Lender eny amount necessary to make up the defiaency in one or more payments as required by Lender. Upan payment in tuA of all sums secured by this Security Instrument, Lender shap promptly retund to Borrower any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shar epply, no leter than imme~atefy prior to the sale of the Property or its acquisition by Lender, any Funds held by lender at the time ot appYcation as a aedit aga~st the sums secured by this Securiry Instrument. 3. Application of Payments. Unless app6cable law provides otherwise, a~ payments receive~ by lender under oaragraphs 1 and 2 shall be appNed: hrst, to late charges due under the Note; second, to prepayment charges due under the Note; third, to amounts payable under paregraph 2; fourth, to interest due; and lest, to pr~cipal due. 4. Charg@S; L1An8. Borrower shall pay aN taxes, assessments, charges, fines and inpositions attributable to the Property which may attain priority over this Security InsVument, and leasehold peyrnents or ground rents, if any. Borrower shaN pay these obligations in the manner provided in paragraph 2, or ii not paid in that manner, Borrower sha8 pay them on time directly to the person owed payment. Borrower shatl promptly fumish to Lender aN notices ot amounts to be paki under this paragraph. If Borrower makes these payme~ts directy. BoROwer shall prompUy fumish to Lender receipts evidencing the payments. Borrower shall prompt}y discharge any Nen whlch has priority over this Sea~rity Instrument unless Borrowei: (a) agrees in wriiing to the pay- I ent of the obGgaUon secured by the tien in a manner acc~ptable to Lender, (b) contests in good faith the Yen by, or detends against entorce- r.^.~t o! the lien i~, legal proceed7sgs ir;hich 3n 4he Lender's opinion operate to prevent enforcement of the aer~ or forfeiture oi eny part of the Fropeity; or (c) secures irom the holder oi the Uen an agreement aatistactory to Lender subor~natfng the 6en to ihis Sepirity Instrumert. If Lender determines that any part of the Property is subject to a Men which may attain pricxity over this Seairity InsVument, Lender may give Borrower a notice identifying the Hen. Borrower shaN setisiy the Nen or take one or more of the acUons set forth above within 10 days of the giving of notice. 5. Hezard InSU~anCe. Borrower shaq keep the Ernprovements now e~asting or hereafter erected on the Properry insured against loss by fire, hazsrds induded within the term "ex4ended coverage" and any other hazards tor which Lender requires Msurance. This insurance shall ~ be maintained in the amounts and tor the periods that Lender requires. The insurance camer providing the insurance shaA be chosen by EoROwer subject to Lendef s approval which shaN not be unreasonably withhdd. ` All insurance poliaes and renewals shaH be acceptab{e to lender and sha~ indude a stendard mortgage clause. Lender shall have the right ~ to hold the policies and renewa0s. tf Lender requires, BoROwer shaN pramptly glve to Lender all receipts of paid premiums and renewa! notices. ~ In the event oi ioss, BoROwer shaH give prompt notice ta the insurance carrier and Lender. Lender may make proof of loss if not made ; prompUy by Borrower. 6 Untess Lender and Borrower otherwise agree in writing. insurance proceeds shaq be applied to restoration or repair oi the Property damaged, F ~f the restoratian or repair is economicc~UUy teesible and lender's securiry is not fessened. Ii the restoration or repair is not eccnomically feasble or Lender's security would be lessened, the insurance proceeds shaM be appKed to the sums secured by this Security Instrument, whether or ' not then due, with any exczss paid to Borrower. H Borrower abandons the Property, or does not enswer within 30 days a notice irom Lender ~ ~ that the insurance carrier has oifered to settle a ciaim, then Lender may copect the insurance proceeds. Lender rtsey use proceeds to repair ~ or restore the Property or to pay sums secured by this Security Instrurnent, whether or no! then due. The 30-day period wiN begin when the ~tt notice is given. ~ Unless Lender and BoROwer otherwise agree in writing, any eppication of proceeds to ptins:ipal shefl not extend or postpone the due date of the monthy payments referred to in paragraphs 1 and 2 or change the amount ot the peyments. If under paragraph 19 the Property is E acguued by Lender, Borrowver's right to any insurance poddes and proceeds resufting from damage to the Property prior to the ecquisition ~ sh~ll pass to Lender to the exte~t of the sums secured by this Security Instrument 'arrmmediately prior to the acquisition. ; 6. Preservation and Maintenance of Property; Leaseholds. Bofirower shau not desvoy, damage or substanti2Uy change ~ the Property, allow the Property to deteriorate or comrt?tt waste. fl thls Security Instrumant is on a leasehold, Borrower shali corry~ty with the ~ provisions ot the lesse, and 'rf Borrower acquires fee tiUe to the Property, the ieasehold and fee tide sha8 not merga unless Lender agrees to ~ the merger in writing. 7. Protection of Le~nder's Rights in the Property; Mortgage Insurance. n Borrowe~ fails to periorm the covenants and agreements contained in this Security Instrument, or there is a legaf proceeding that mey signficantly ef(ect Lender's rights in the Property (such as a proceeding {n banfwptcy, probete, for condQmnatlon or to e~force laws or regulations), then Lende~ may do anti pay tor whatever ~ is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions mey indude paying any sums secured by a fien which has priority over this Sec~~rity Instrume~t, appearing M court, paying reasoneble attomeys' fees and entering on the Property to make repaks. Atthough Le~der may take acilon under th(s paragraph 7, Lender does not have to do ao. Any amounts disbursed by Lender under this peragraph 7 shap become adddional debt oi Borrowef secured by this Security Instrument. Unless Borrower and Lend2r agree to other terms of payment, these emounts shaU bear fnterest from the date ot disbursement at ihe Note rate ~ and shaN be payable, with interest, upon notice from Lender to Borrower requesting peyment. ~ ~ ~ ~ t ~ " i~B9} Paqe 2 ot a ( 80GK ~~v PAGE ~42~ - . ' _ ' _ t~^S R ..K3~~i, 4=: ~ i£~ s~"x-'~~-%~^rt~.a.e:.~'~`S'.,z~'~'"~'r?~...u~" F.Ra~C.~