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Home My WebLink About2124 UNI~ORM CC~VENANTS Borrawer and Lender covenant and agree a~ foll<~ws 1. Peyment of P~irtcipal and lnierest; Prepaymeni and late Charges. E3orrower shali prompliy p~y when due tt~e pr ~nc:pa~ ot and ~nte~est on the debt ev~denced by the Note and any prepayment and late charges due under the Note. 2. Funda for Taxes and Insurance. Sub~ect to appl~cabte !aw or to a wntten wa~ver by Lender, Borrower shalt pay to Lender on it~~e day mcn,~~y Guy;r,en;s are ~ue urder ±he Note, unr,~ the Note is pa:d ,n t~~n, a sum 1'~Fund.s") equal to one-twe!fth of ia) yea~~y taxes and assessments wh~ch may attam pnonty over th~s Secunty Instrument; (b) yearly leasehoid payments or ground rents on the Property, rt any, (c) yearty hazard ~nsurance premwms; and (d) yearly mort~age ~nsurance premwms, d any. These ~tems are called "escrow ~tems' ~ender may esbmate the Funds due ~n the bas~s of current dat~ and reasonabre eshmates oi tuture escrow ~tems. The ~unds shall bz held ~n an ~nstrtut~on the depos,ts o~ accounts of wh,ch are ~nsured or guaranteed by a tederal or state agerr~y (~nclud~ng Lender ~f Lender ~s such an ~nsi~tut~on). Lender shall apply the Funds to pay the escrow dems Lender may not charge tor hotd~ng and apply+ng the Funds, analyz~ng the account or venfy~ng the escrow dems, unless Lender pays Bo~rower ~nterest on the Funds and appl~cab!e taw perm~ts Lender to make such a charge. A charge assessed by lende~ in connection with Berrower's entenng ~nto th~s Secunty Instrument to pay the cost of an ~ndependent tax re,~ort~ng serv~ce shall not be a charge ior the purposes nt rhP nrarA~i,nn st~ntence Borrawe! and Lender may agre~ ~n wnt~ng that interest shall be pa~d o~ the Funds Unless an agreement ~s made or app~~cab!e law requ~res ~nterest to be pa~d. Lender shali not be reqwred to pay B~rrower any ~nterest or ea~n~nys on che Funds Lender shal! g~ve to Borrower, wdhout charge, an annual account+ng o! the Funds show,ng cred~ts and deb~ts ro the ~unds and the purpose for wh~ch each deb~; tu the Funds was made 7he Funds are pledged as add~t~onal secur~ty for the sums secured by th~s Secunry Insirument If the arr~ount of the Funds held by Lender, together w~th the future monthly payments of Funds payable pnor to the due dates of the escrow ~tems, shaii exceed the amount reqwred to pay the escrow items when due, the excess shalt be. at Sorrower's opt~o~, e~ther promptty repa~d to Borrower o~ cred~ted to Borrower on mo!~thiy payments of funds If the amount ot the Funds held by Lender ~s not suff~c~ent to pay the escrow ~tems wher due, Borrower shaii Qay to Lender any amount necessary to make up the defic~ency ~n one or more payments as reqwred by Lender. Upon payment m futl of ali sums secured by th~s Secunty i~strument. Lender sha!t pr~mpily refund to Borrou~er any Furds hefd by Lender N under paragraph 19 th~ Property cs sold or acqu~red by Lender. Lender shall ap~ly, no later than ~mmed~ately pr~or to the sale ot the Property or ~ts acqu+s~t~on by Lender, any Funds held by Lender at the t~me ot appl;cat~on as a cred~t aga~nst the sums secured by th~s Secunty Instrument. 3. Application of Payments. Unfess app!~cabie law prav~des otherw~se, all payments rece~ved by Lender under paragraphs t and 2 sra° apphed: hrs! to am,u.^.ts ra,ab!e u~der parag;aoh 2; ~econd. to ~nterest due: and last, to pnncipal due. 4. Charges, liens. Borrower shali pay all ;axes, assessments, charges. fines and ~mpps~Uons attributabie to the Property wh~ch may atta~n pronty over ih~s Secunty Instr~ment. and leasehold oayments or ground rents, if any. Borrower sha'I pay these obtigations ~n the manner prov~ded ~n paragraph 2. or ~f not pa~d ~n that r~anner. Borrower sha(! pay theawny~r~edNec!1y to the person owed ~ paymer.t. Borrovrer shatt promptfy fumish to tende.* afi notices a' amcx:nis io be ~ard ur:de: th~$ paragrapt~. !f Barrosrer cnakes ihese payme~ts d~rectly. Borro~ti~er shaR promptly tum+sh to Lender rece~pts ewdenc~ng the payments. 8orrower shail promptiy discharge any 6en which has prronty over this Secunty Instrument uniess Borrower. (a) agrees in w~iting io tne paymeni of the obhgabon secured by the I~en ~n a manner acceptable to Lender, (b) contests in good faith the I~en. by or cielends aga~nst enforcemeni ot the hen ~n, legal proceed,ngs wh~ch m the Lender's opinion operate to prevent the enforcement o` the I~en or forfe~ture of any part of !he Property: or (c) secures from the hoider of the lien an agreement sat~sfactory to Lende~ subord~nat~ng the hen to th~s Secunty Instrument. if Lender determines that any part o( the ProRerty ~s sub~ect to a I~en wh~ch may atta~n pnonty over th~s Secunty Instrument, Lender may give Borrower a notice ~denUfy~ng the f:en. Borrower shail sat~sty the hen cr take one or more of the act~ons set forth above wdh~n 10 days of the g~ving of notice. 5. Hazard Insurance. Borrower shall keep the ~mprovemen!s now ex~st~ng or hereafier erected on the Property ~nsured aga~nst ~oss by fire, hazards +ncluded v.~~thm the term "extended ceverage" and any oiher hazards for wh~ch Lender reqwres ~nsurance Th~s !nsurance shai~ be ma~nta~ned ~n the amounts and for the penods that Lender requ~res. The msurance carner prov~d~ng the ~nsurance shall be chosen by Borrower sub~ect to Lender's approval wh~ch shall not t~e unreasonabiy w~thhe~d. All ~nsurance pcl~aes and renewals shall be acceptabie te Lender and shail mclude a standard mortgage ctause. Lerd2r shall have the rght to hold the pchc~es and renewals. if Lender requires. Bo~rower shal! promptiy g~ve to Lender all receipts of pa~d prem~ums and renewal nohces. in the event of loss, Borrower sha11 g~ve prompt not~ce to the ~nsurance carrier and Lender. Lsnder may make proof of loss rf not made promptly by Borrower. U~less Lender and Borrower othertiv~se agree ~n wr~Ung, ~nsurance proceeds shall be appl~ed to restorai+on or repajr of the Property damaged rf the restoratron or repa~r ~s econam:cally feas~ble and Lender's secuniy is not lessened. If the restcraUon or repa~r ~s not econom~cally'eas;ble or Lender's secur,ty would be ~easened. the insurance proceeds shall be app6ed to the sums secured by th,s Secunty Instrument, wnether or not then d~e. wiih any excess paid to Borrrnvec If Borrower abandons the Property, ~r does not answer w~th~n 30 days a noUce from Lender that the ~nsurance carner has offered to settle a cla~m. then Lender may ro!lect the ~nsurance proceeds Lender may use the proceeds to repa~r or restore the Property or to pay sums secured by th~s Secur~ty Instrumen!. w!~etF-~er or not then due. The 30-day penod wdl beg~n when the noUCe ~s given. Unless Lender and Borrower otherw~se agree in wntirg, any apphcation of proceeds to pnnc~pal shall not extend or pos?pone the due date of the monthly payments re`erred to ~n paragraphs 1 and 2 or change the amount ot the payments. If under paragraph 19 the Property is acqu~re~ by Lender. Borr~Ne~'s nght to any insurance pol;c~es and proceeds resulting trom damage to the P;operty pnor to the acqu~s;bon shali pass to Lender to the exter~t of ihe sums secured by th~s Secunty Instrument ;mmed~ately pno~ to the acqu~s+t~on. 6. Preservation and Maintenance of Property; Leaseholds. Borrower shali not dzstroy. damage or subs?ant~ally rhanye the Property, allow the Prope~ty to deterora?e or comm~t waste !f the Secunty Instrument on a leasehoid Borrower snall comQly •:v~th the prov~sions of the IEase. and ~f Borrower acqwres fee ,~tie to the Property. the leaseho!d and fee Utle sha!I not merge unless Lender agrees to the merger ~n wnt~ng. 7. Protection of Lender's rights in the Property; Mortgage Insurance. If Bc~rrower !a~ts to perfcrm the covenants anci agreemer~ts conta~ned ~n th~s Sec~nty I~strument. or there ~s a(egal proceed~r~g that may sign~t~cantly affect Lender's nghts m the Proper,y (such as a proceed~ng ~n bankruptcy, probate tor condemnat~on or to en!orce !a~vs nr regulat+ons). ihen Lender may do and pay for whatever +s necessary to pr~tect the value of tne PropeRy and Lender's nghts ~n tne Proaer<y Lender's acUons may +nclude pay~ng any s~:ms secwed by a l~en which has pnarity over ?h~s Security Instrument, appeanrg ~n court. pay~ng reasonabie araney s?ees anC entenng o~ the Property to make repairs. i-Uthough Lende• may take act~or. under th.s paragraph 7 Lender does not have to do so. Any amounts d~sb~rsed ~y Lencier under th~s paragraph 7 shaH become add~tiona! debt of Borrower secured by tnis Secur~ty Insvument. Unless Borrower and ~ender agr~ to other terms of payment, thase amounts shail bear in~erest fram the date of dssbursement at !he Note rate and shall be payable, w~th ~nteresi. upon not~ce from l~nder to Borrower requesting payment. aeeees ae; a.~ • es ;}soz± Pc ~ . B~;~R{~~~ P'GC~~?~ _ ~ Sv~.~'..~s~ °~'w~.-~.~-.~i-.~~~~ ~°}'v.:za~.'~~~"~':~~'-~" ~s... ~u~:~~?¢•"•.~_