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Home My WebLink About2227 L~IFUR~1 CO~ k\AtiI~ B~,rruHrr ~nd l.rn~rr ru~rnant an~1 agrr~~ ti,11~~~+, 1. 4'ayment of Principal and lnterest; Yrepa~ment and l.ate CharKes. 13~~rru~~rr .haU ~rc~mrtl~ ~a~ ~~hrn ~ii~r the principal uf and interest on the debt e<<denrrd by the tiote and an~ prrra~ mrnt an~i I~t; : h.ir~;r. clur un.lrr thr \;~tr 2. Funds for Taxes and lnsurance. Sub~rct t~~:~ppli~able law ur tu a Hnttrn ~~sner h~ Lrn~lc;r, F3t~rruwer ~hall pa~ to Lender on the day monthly pa}•ment, are due under thr N~~te, until the Nc~te ra~d in full, ,um ("F=undti") ryuai t~~ une-twelfth of~ (a) yearly taxe, and astir~,mrnts N~hich ma~• attain pnont~ o~er th~s Serunt~ In~trument; (h) ~rarl~ leasehoid pa~ments or ground rents on the Property, i( any; (r) yearl}~ harard ~n~urance prem?um~: and (d) ~~arl} mortgage insurance premiumti. +f any. These +tems arr ~afied "eticr~7w items." Lender m~iy r.nm3te the Fundti dur un the basis of current data and reasonable estimatrs of future escrow• ~tems. ~Ilie Fund~ ,hali tx held in an in~tiWtion the depo,its or acrount, ot ~~hich are in~ured ur gu~rantred hi a ~edrral ur .tate agenc~• (including Lender ii t.ender i, ~urh an in~titution?. lxnder,hal! apph• the f=un~i. to pa~ therscr.~H item,. Lendcr r.~a}~ not rharge for hutding and apph•ing the Fund~, anal~~ring the arcuunt or ~rril~ in~ thr e.cru~? item~, unle~, Lender p:?~. Born~~~er interest un the t=unds an~ appficab{e laN Exrnut~ Lcnd~r tu m;~ke such a charRe. A rharKe a„e„ed b~ Lender in runncYtion ~~ith B~~rru~~~rs' enrering into thiti ti~YUrit~~ lnstrument to ~a~ thr ru,t ~~I an independent tax reparting ~cnire .hall nut txr a rharge for pu~pc~se, of the prcreding untenr~. B~~rruHer and l.rnder n~a~ agree in nting that intere~t ~hall hc: paid «n the t~unds. l!nle,~ an akrremrnt i. made ur applirabk la~~ reyuir~. intrre,t t~? tk paiJ, I.enJrr sh.ill n~~t br rcyuired tu pav Borr~~wer am intercst ~~r carnings un the Fundti. Lender ~hall gi~r tu Borru~cer, H ithuut charge, an annual arr~~untin~ uf ehe t=und~ ,ho~ling credit~ and dehit~ to th~ Fund~ an~i the purpo.e lor ~~hiri~ rach debit tii the t=und~ ~+a. mad~. Ihr FunJ~ _ , . , . . . . ~:.:~.~C:: ~.uu:iivii:ii :~L'~.ui~i~ i~ii i:ti ~tiiil> >CIUICIt U~ llll\ lCl'ilfll\~ ~f1S1rUi11C11~. If the amount of the Funds held by Lender, together w~ith the future monthl~~ pa}~ments of Funds payable prior to the due dates of the escroa~ items, shall exceed the amount reyuired to pay~ the escrow uems when due, the excess shall be. at Borrow~r's option, either promptly repaid to Borrower or credited to Borrow~er on monthl}• pa}•ments of Funds. If the amount oP the Funds held b}• Lender is not sufficient to pay the escrow items when due, Borrow~er shall pay to Lender any amount necessary to make up the deficiency in one or more paymencs as required by Lender. Upon payment in full of aU sums secured by this Sc~:urity [nstrument, Lender shali promptly refund to Borrower any Funds held by Lender. If under paragraph 19 the Property i~ sold or acquired b~~ Lender, Lender shall apply, no later than immediately prior to the sale of the Propert}• or its acquisition by Lender, any Funds held by Lender at the time of application as a credit against the sums secured by this Security lnstrument. 3. Application of Payments. Unless applicable law• provides otherN~ise, all pa}•ments recei+~ed by Lender under paragraphs 1 and 2 shal! be applied: first, to late charges due under the Note; second, to prepa}~ment charges due under the Note; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to printipal due. 4. Charges; Liens. Borrow•er shall pay aU taxes, assessments, charges, fines and impositions attributable to the Property which may attain prioritp o~~er this Securtt}• Instrument, and leasehold payments or ground rents, if an}~. Borrower sfialf pay these obligations in 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 payment. Bnrrower shall promptiy furnish to Lender all notices of amounts to be paid under this paragraph. If Borrnwer makes these pa}•ments directly, Borrower s~all promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge an~• lien w•hich has priorit}~ over this Security Instrument unless Borrower: (a) agsees in writing to the payment of the obligation secured hy the lien in a manner acceptable to Lender; (b) eontests in good faith the lien by, or defends against enforcement of the lien in, legal pra:eedings which in the Lender's opinion operate to prevent the enforcement of'the lien or forfeiture of any part of the Praperty; or (c) secUres from the hofder of the fien an agreement satisfactory to Lender subordinating the lien to this Securit}• Instrument. If Lender determines thai any part of the Property is subject t~ a lien which may attain priarit}• over th~s Securit}~ instrument, Lender may give Borrower a notice ~dentifying the iien. Borrower shall satisf}~ the lien or take one or more of the actions set forth above within 10 days of the giving of notice. 5. Hazard Insurance. Borrow~er shall keep the impmvements now exiyting or hereafter erected on the Property~ i insured against loss by fire, hazards included within the term "extended cc~verage" and any other hazards for w•hich l.ender i requires insurance. This insurance shall be maintained in the amounts and far the periods that Lender requires. The insurance carrier providing the insurance shall be chosen b}~ Bo~roHer subject ta Lender's approval w•hich shall not be j unreasonab4y withheld. All insurance policies and renewals ~hail be acceptable to Lender and ~ha11 include a standard mortgage clause. Lender shall have the right to hold the palicies and renewals. If Lender requires, Borrow~er shal! ~romptl}~ give ro Lender i all receipts of paid premiums and renewal notices. Ir~ the event of loss, Borrow~er shall gi~~e prompt notice to the insurance , carrier and Lender. Lender may make proof of loss if not made promptly b} Borrower. Un4ess Lender and Sorrower otherw~ise agree in wr~ting. insurance proceeds shall be applied ro restoration or repair ; of the Property damaged, if the restoration or repair is economicai{y feasible and Lender's security is not lessened. lf the ` restoracion or repair is not economically feasible or Lender's security w~ould be lessened, the insurance proceeds shafi be ~ applied to the sums secured by this Security Instrument, w~hether or not then due, with any excess paid to Borrower. If ~ Borrower abandens the Property, or does not answer within 30 day~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 by this Security Instrument, whether or not then due. The 30-day period will begin ~ when the notice is given. ; Unless Lender and Borrower otherwise agree in writing, an}~ appiication of proceeds to principat shatl not extend or postpane the due date of the monthly payments referred to in paragraphs 1 and 2 or change th~ amount oi~the payments. If ~ under paragraph 19 the Property is acguired by Lender, Borrower's right to any insurance policies 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 e Instrument immediately prior to the acquisition. ~ 6. Preservation and Maintenance of Property, Leaseholds. Borrow•er shall not destroy, damage or substantialty r change the Property, allow the Property to deteriorate or commit M-aste. If this Security Instrument is on a leasehoid, Borrower shall compiy with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and Eee title shall not merge unless Lender agrees to tfie merger in writ~ng. 7. Protection of Lender's Rights in the Property; tilortgage Insurance, ff Borrow•er fails to perform the covenants and agreements contained in this Security Insirument, or there is a legal proceeding that may significanily affe~t Lender's tights in the Property (such as a praceeding in bankruptcy, probate, for condemnation or to enforce laws or regulations), then Lender may do and pay for whatever is nec:essary to protect the value of tne Property and Lender's nghts in the Property. Lendtr's actions may include paying any sums secured by a lie~ which has priority over this Security~ [nstrument, appearing in caurt, paying reasonable attarneys' fees and entering on the Property to make repairs. Although 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 become additional debt of Borrow~er secured by this Security Instrument. Unless Borrawer and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shali be pay~able, with interest, upon notice from Lender to Borrow~er ~ requesting payment. ~ 600K ~7~ PAG~~~~~ ~ ~ ~"7,x~"» ,~is.,•~ `"k , ~ ~~,~~°3~ ~ ~x ~~,.r-~ --`sr? ~