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Home My WebLink About1862 ~~\'1411U!~! ~~/l~'l \ IL . . ~ / . 7 . . 11__._ . . .1. . 13:~~ ~i ui~~l ~.lliull L~i~lilJlli .l~IU ~lE;i ll ~Il -~ili~l\i l 1. Payment of Principal and Interest; Prepayment and l.atc ('harRes. Burr~~Hrr ,h:?II pr~~m~tl~ ~a~ w hrn .itzr thr pnncipal of and ~ntrre~t on the debt e~ idenrrd by the N~~te and any ~rep.?~ mrnt :in~i I.~tr: har~;~ti ~iur un~irr thr ti~~tr 2. Funds for Taxes and Insurance. Sub~ect tc~ appl~rable I;~w• i~r to a H rutcn w aner h~ Lrndcr, R~~rr~~Hrr .hall to l.ender an the day monthiy payment. are due under ihe I`ote, unul the N~~te i, ~~aid ~n full. ~,um ("Fund,") ryu:?! t~~ cme-twelfth of~ (a) yearly t~xeti and a~ie»ment~ which may attain pnori~} o~er thiti Se~unty In~trument; (b) pe~rl~ leasehold pa~~mentt or ground rents on the Property, if any; (c) yearl~~ haaard ~n,urancr ~remiwm: .ind (d) ~earl~ mortgage insuranre premiumti, ~f any. Thetie items are rallyd "eticroH itemti." !_rnder ma~ rtitimate the Fwidti due cm the bas~s o6current data and rra~onable estimates of future escrow items. lhe F~und~ shall be hrld in an in.titution ihe deposits ~~r account. ~~t ~~hich are in~urrd or guaranteed h~ a fe~leral ur .tatr agenr~ ~inrluding Lrnder il Lcnder is,urh an imtitution). Lender,haU appl~• the F=un~1~ tu ~a~ thee.rru~~ item~. LenJer ma~ nut :hargr for halding and apphing the Funds, anai~~ring the acc~~unt ~~r ~rrif~ ing thr ~~cru~s items, unles. I.ender pa~. Burrotier intere~t on the {~unJ~ and ap~lirahle la~~ ~xrmit~ I.ender to make such a char~e. A rharge a"esud b~ l.~ndrr in r.~nnertiun ~~ith &~rr.~~~en'rntering into thi, Securit~• In~trumem tu pa~ the cotit ol an independent ta~ rrporting,cr~ire ~hall nut he a rhargr for purpu~e, ~il the prc~edin~:,entener. &~rruHer and l.ender ma~ agree in Hriting thc~t intere~t ~hall he paid ~m the f=und.. t'nle.~ an agrcemrnt i~ made ~~r.ipplicahle IaH reyuirrs interr,t to he paid, t.rndrrshall nut tx~ reyuired t~~ pa~ B~~rm~~~r am inter~,t ur ~arning~ em thi F=und~. I.ender ~hall gi~e t~~ l3urru~?rr, ~cithuut ch;trg~, an annu.il acc~~unting ~~f the Fund. showing crrdit. and drbit~ to the f=unds and the purpo,e for ~~hirh r~ch ~iehit t~~ thr 1=!~n~l. ~ca. ma~r. Il~e 1=un~l. arr ~le~lged a. additi~~nal ~erunt~ f:~r thr ,umti xcurrd b~ thi~ tirciint~ Instrumm~t. If the amount of the Funds held by Lender, together w~ith the future monthl}~ pa}~ments af Funds pa~~able prior to the due dates of the escrow items, shall exceed the amount required to pa}• the escroti item~ w hen due, the excess shall be. at Borrower's option, either premptly repaid to Barrow~er or credited to Borrower on monthly pa}°ments of Funds. If the amount of the Funds held by Lender is not sufficient to pay the esrrow items when due. Borrower shall pay to Lender an~~ amount necessary to make up the deficiency in one or more payments as reyuired by Lender. Upon payment in Cull of all sums secured by this Security Instrument, I.ender shall promptl~• refund to Borrower any Funds held b}~ Lender. If under paragraph 19 the Property is sold or acquired b}~ Lender, Lender shall apply, no later than immediately prior to the sale of the ProEserty or its acquisition b~~ Lender, an~• Funds held by Lender at the time of application as a credit against the sums secured by this Security Instrument. 3. Application of Payments. Unless applicable law pro~~ides otherw~ise, all payments received by Lender under paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepay~ment charges due under the '.Vote; third, to amounts pa}•able under paragraph 2; fourth, to fnterect due; and last, to principal due. 3. Charges; Liens. Borrow•er shali pay all taxc~, assessments, charges, fines and impositions attributable to the Property which may attain priorit~~ over this Security Instrument, and leasehold payme~ts ur ground rents, if an~~. Borrower shall pay these obligations ~n the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time directly to the person ow~ed pay~ment. Borrower shall promptl}~ furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower maketi these payments dirertl}•. Borrower shall promptly furnish to Lender ~ receipts evidencing the payments. Borrower shall promptly discharge any I~en ~•hirh has priorit~• o~er th» Securit}~ Instrument unless Borrower. (a) agrees in writtng to the payment of the obhgation urured by the hen ~n a manner acceptable to Lender, (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate t~ prevent the enforcement of the lien or forfeiture of any part of the Property; or (c) secures from the holder of the lien an agreement satisfactor}~ to Lender subordinating the lien to this Securit}~ Instrument. If Lender determines that an}• part of ' the Propert}• is subject to a lien which may attain priority o~~er thi~ Secuntp Instrument, Lender ma}~ gi~~e Borrower a ' notice identifying the lien. Borrower shall satisf} the lien ~~r take one ur more of the actions set forth abo:e w~ithin 10 days ; of the giving of notice. ; 5. Hazard [nsurance. Borrow~er shall keep the imprc,~ements nuw exi~hng or hereafter erected on the Propert~• ~ insured against loss by fire, hazards included within the term "extended co~~erage" and any other hazards for which Lender requires insurance. This insuranre shall be maintained in the amounts and for the peric~ds that Lender requires. The ; insurance carrier provid~ng the insurance shall be chosen by Borro~~er subjert to Lender's approval which shall not be ~ unreasonably w•ithheld. Ali insurance policies and renewals ~hall be acceptable to Lender and shall inrlude a standard mortgage clause. ` Lender shall ha~~e th~ nght to hold the policies and renew~als. If Lender reyuires, Burrow~er shall promptly give to Lender k all receipts of paid premiums and renewal notices. [n the event of los~t, Borrow~er shall give prompt notice to the insurance ~ carrier and Lender. Lender may make proof of loss if not made promptly b} Borrower. Unless Lender and Borrower otherw•ise agree in w•riting, insurance proceeds shall be applied to restoration or repair ' of the Property damaged, if the restoration or repair is economicall}~ feasible and Lender's secur~ty is not lessened. If the ` restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be ~ applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If ~ Borrower abandons the Property, or dces not answer within 30 days a notice from Lender that the insurance carrier has p offered to settle a claim, then Lender may collect the insurance proceeds. Lender ma f use the proceeds ro repair or restore ; the Property or to pay sums secured by this Security~ Instrument, whether or not then due. The 30-da~~ period will begin ~ when the notice is given. ~ Unless Lender and Borrower otherwise agree in writing, any~ application of proceeds to principal shail not e!etend or ` postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If ~ under paragraph 19 the Property is acq~ired by Lender, Borrower's right to any insurance poiicies and proceeds resulting ~ from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security ~ Instrument immediately prior to the acquisition. ~ 6. Preservation and Maintenanee of Property; Leaseholds. [3orrow~er shall not destroy, damage or substantially ~ change the Property, allow the Property to deteriorate or commit waste. If this Secu~ity Instrument is on a leasehold, ` Borrower shall compiy with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and fee title shall not merge untess Lender agrees to the merger in writing. 7. Protection of Lender's Rights in the Property; wiortgage Insurance. If Borroa~er fails to perform the covenants and agreernents contained in this Security Instrument, or there is a legal proceeding that may~ significantly affect 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 by a lien which has priority over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Aithough Lender may take action under this paragraph 7, Lender does not have to do so. ` Any amounts disbursed by Lender under this paragraph 7 shall became additional debt of Borrower secured by this ~ Security Instrument. Unless Borrower and Lender agree to other terms of payment, thes~ amounts shall bear interest from ~ the date of disbursement at the Note rate and shall be payable, w~ith interest, upon notice fr~m Lender to Borrow•er requesting payment. ~ BU~ t~~~~ ~.V~~ n, ~~~r~