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Home My WebLink About2169 . ~ ~~.1~ UN~t-c~RM Cc~vF_NANrs Borrower and Lender covenant and agree as folluws: 1. Yayment of Principal and Interesh Prepsyment and l.ate Charges. Burn~wer shall pn~mptly pay w•hrn due the principal of and interest on Ihe debt evidenced by the Note and any prepayment and late ch~rges due under the N~~te. 2. Funds for Ta:es nnd Insurance. Subject to applicable law or to a written wa~ver by Lender, Borruwer shall pay tu l.ender on the day moMhly payments are due under the Not~, until the Note is paid in full, a sum ("(~unds") equal to one-twelRh of: (a) ytarly taaes and assessments which may attain priority over this Se~urity Insirunient; (b) yr~~ iy leasehold payments or ground rents on the Property, if a~iy; (c) yeariy hazard insurance premiums; and (d) yearly mortgage insurance premiums, if any. These items are catled "escrow items." Lender may estimate the Funds due on the basis of current data and reasonable estimates of future escrow~ items. The Funds shal) be held in an institution the deposits or accounts of wF~ich are insured or guaranteed by a federal or state agency (including Lender if Lender is such an institution). Lender shall apply the Funds to pay the escrow items. l.ender may not charge for holding and applying the Funds, analyzing the account or verifying the escrow items, unless Lencler pays Borrower interest on the Funds and applicable law permits I.ender to make such a charge. Eiorrower and Lender may agree in writing that interest shall be paid on the Funds. lJnless an agreement is rt~ade or applicable law requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. I.ender shall gi~: e to Bnrrower, withaut charge, an annual accounting of the Funds showing credits and debits to the Funds and the DUf[le)S2 fOf wf11C~1 eac~l debit to the Fundc was madr Thr Funrlc arP nlrrloPrl ac arl~iitinnal crrnritv fnr thr cnmc crrnrsvl F,v - - - _ - • this Security lnstrutnent. ~ If the amount of the Funds heid by Lender, together with the future monthly pa~~ments ot Funds pay~able prior to the due dates of the escrow items, shall ezceed the amount required to pay the escrow items when due, the excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Sorrower on monthly payments of Funds. lf the amount of the fiunds held by Lender is not sufficient to pay the escrow items when due, Borrow•er shall pay to Lender any amuunt necetsary to make up the deficiency in one or more pa~•ments as reyuired by Lender. Upcm payment in full of all sums secured by this Sec;urity Instrument. Lender shall promptly refund to Borrow~er any I~und: held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall apply, no later than immediately prior to the sale of the Property or its acquisition by Lender, any Funds held by Lender at the time of arplicatic~n as a creefit against the sums secured by this Security Instrument. 3. Application of Psyments. Unless applicable law provides otherwise, all payments received by Lender under paragraphs 1 and 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under the Note: third, to amounts payable under paragraph 2; fourth, to interest due; and tast, to principal due. 4. Charges; Liens. Borrower shall pay all taxes. assessments, charges, fines and impositions attributable to the Yroperty which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrow•er shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time direcdy to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this paragraph. If Borrower makes these payments directly. Borrower shall promptly furnish to Lender ; receipts evidencing the payments. ' Borrower shall promptly discharge any lien which has priority over this Security Inslrumem unless Barrower. (a) agrees in writing to the payment of the obligation sec;ured by the lien in a manner acceptable to I_ender, (b) rontests in gc~d faith the lien by, or defends against enforcement of the lien in, legal proceedings which in tl~e I.ender's upinion aperate to pre~ent the enforrement of the lien or forfeiture of any aart of the ProPerty; or (,c) sec~~re~ from the he,lder of thc l:en an i agrcement satisfactor}• to I.ender subordinating the lien to this Security Instrument. If Lender determines that an}• ~a~ t of the Prc~pcrty is subject to a lien which may attain priority over this Secarity Instrument, Lencier ma}• give Bc~rrower a nutirc identif}~ing the lien. Borrower shall satisfy the lien or take one or more of the actiom tict f~~rth a~~ve w~ithin 10 days ' uf the gi~ ing of notice. ~ 5. Hazard Insurance. BorroK•er shall keep the improvements now existing or hereaRcr erected on the Property ~ ~nsured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender ~ reyuire; insurance. This insurance shall be maintained in the amounts and for the periods Ihat Lender requires. The ~ inwranre rarrier providing the insurance shall br chosen by Borrower subject to Lender's approval which shall not be ui~reas~mably withheld. ~ All insurance ~licies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. ' Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender ~ all receipts of paid premiums and renewal noticzs. In the event of loss, Borrower shall give prompt notice to the insurance r~rrier anci Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair c~f tfie Pra~erty damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the rrstoraticm or rerair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be ~ arplied to the sums sec:ured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If r Bc,rrc~w•er abandons the Prorerty, or dues not answer within 30 days a notiee from Lender that the insurance earrier has p ofTered 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, whether or not then due. The 30-day period will begin € w hen the notice is given. ` Unless Lender and Borrower otherwise agree in writing, any application of proceeds ta prinripal shall not extend or r~~~tp~ne the due date o(the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If ~ u?i~ier ~,aragraph 19 the Property is acquired by~ Lender, Borrower's right to any insurance policies and prc~ceeds resulting ~ fn~m damage to the Property prior to the acquisitior~ shall pass to Ltnder to the extent of the sums secured bp this Security~ ~ In~Irur~ecnt immediately prior to the acquisition. ~ 6. Preservation and htaintenance of Property; Leaseholds. Bc~rr~wer chall nut destn~y~, damage or substantially ; change the Pre~~ert~~, alloa~ the Propert~~ to deteriorate or commit waste. If this Security lmtrument is c~n a leasehold, [3~~rn~uer shall com~ly with the provisions of the lease, and if E3orrower acquires fee title to the Property, the leasehold and fce utle ~hall not merge unless Lender agrees to the merger in writing. 7. Protection of I,ender's Rights in the Property; 19ortRage Insurance. If Ac~rrow~er fails tc~ ~crform the r~~. rnants and agreements contained in this Security~ Instrument, or there is a lega! prc~ceedinR that n~a} significantly aRect Lender's rights in the Property (surh as a proceeding in bankruptcy, probate, for condemnati~~n c~r t~ enforce laws c~r rcgulations), then Lender ma}~ do and pay for whatever is necessary to protect the value of the Propert}~ and l.ender'~ rig}ets in the Property. Lender's acti~ns ma}~ include paying any sums secured by a lien w~hich has pri~rity ~ver this Secunty In~trument, a~~aring in c~urt, pay~in~ reasonable atrorneys' fees and entering on the Pmpert}~ t<~ make repairs. Although I.ender ma}• take action under this ~aragraph 7. Lender does not have to dn so. An}~ amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this - Security [nstrument. Unless Horrow•er and Lender agree t~ other terms of pay~ment, these amounls shall bear interest Gom _ the date of dishursement at the Nnte rate and shall be payable, with interest, u~n nntice from Lender t~ Horr~w~er - rcyuesting payment. ~ E-_`,675 f~~~=2169 ~ - _ : g~ . . ~ aA As~=~~~'~'~:~~~,=~~.~~