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Home My WebLink About2334 I;~IFC~R~1 Cc» F~.~~TS Hurr~~Nrr ~n~i [.rnder co~rnant anJ agrrr a, li,llu~„ 1. Payment of Principal and Interesh Prepayment and Latc Charges. Hurruwrr ~1ia11 ~r~~mrtlg ~a~ Nhrn ~iur [he pnnc~pal of and ~nte;est un the ~iebt e~ idencr~i hy the No~r and an~ rrrpa~ mrnt .ind I~tr ~ hargr. ~iur ~~n~rr thr ti~i~r 2. Fur?ds for Taxes and Insurance. Sub~rrt to applirablr law ur to a~ ntten a~~ rr h~ Lendrr, R~~rru~rr ,hall pa~ to Lender on Ihe day monthly payment~ are due under the Note, until Ihe Nutc u paid in full, a.um 1"f=und~") ryual t~~ une-twelflh of: (a) ~~eariy taxes and atse~sment~ w~hich may~ atta~n priorit~~ o~er thi~ Secunty lntitrum~nt: (b) ~~earl~ leasehold payments ar ground rents on the Pro~rty, ~f any; (r) yearly hazard ~ntiuranrr prem~um~; 3nd (d) ~earl~ mortgage insurance prem~ums, if any. Thesr ~tems are called "rscruw• item•~." Lender m:~y etiumate the Funds due un thr basis of current data and reasonable estimates of future escrow items. "Ihe Funds shall he held in an instituiion the de~wsits or acYOUnts ot which are in~ur~d ur guaranteed b~ ~ fedrral or ~t~te agenry Iincluding l.ender if l.ender is wrh an institution). l.ender shall appl~~ the Funds tu pa~~ theeuruN item.. Lendrr ma~ not charge ior hulding:~nd appl~•ing the F~und,, anal~•ring lhe arruunt ur ~eritt~ing the ruro~~• items, unle» l.ender p:?~~ kiurrui~er interest un the Funds and appfirahle law pcrmits Lender to m~ke such a charge. A charge a.utised t>~~ l_ender in ~unnc~tiun aith f3urro~en' entering into thi, tit.~urit~~ Instrument to pa~• the cost ol an independent tax reporiing ~enirc .hall nut tx: a chargc for purp~~ses of the prc~-eding untrnce. f;orrowcr and Lender ma~ agne in ~ riting that intere~t tihall tk ~aid un the Fund~. Unles~ an agreement is madr or applicable IaN reyuirc. inter~~t tu tx paid, Lrndrr ~hall n~~t tk reyuirrd tu ~a~ Burro~~er an~ intere.t ~~r earning~ an the Funds. lxnder shall gi~e to Borro~~er, ithout churge, an annual ,iccoiinting uf ~h~~ F=unr1~ ch~i~4in~ i•r~~~iit~ ~n~i ri~hii. ~n thc: F-~~n~c:~n[1 tht~ n~irp~ic~ fpr ~4'~?!Ch r arh r1.~hit t~~ Ih~_ F-~~n~1. ..u. m:.,l~~ "Il,., E:,~.,.1. ' c!re pledgrd as additional .erunt~• lor the ~um~ ucured b~~ thi, Se:rurit~ Instrumrnc. If the amount of the Funds held by Lender, together with the future monthly pay~ments of Funds pa}~able prior to the due dates of the escrow items, shal! exceed the amount reyuired to pay the e~~roa• items when due, the excess shall be, at Borrower's option, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the amount of the Funds held by Lender is not su~cient to pay the escrow items when due, Borrower shall pay to Lender any amount necessary to make up the deficiency in one or mare payments as required by Lender. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptl}~ refund to Borro~~er any Funds held by Lender. lf under paragraph i9 the Property is sold or acquired by Lender, [.ender shall apply, no later j~ than immediately prior to the sale of the Property or its acquisition b}~ Lender, any Funds held by Lender at the time of ~ application as a credit against the sums secured by this Security Instrument. ~ 3. Application of Pay~ments. Unlesc applicable law provides otherwise, all payments received by Lender under g paragraphs 1 and 2 shall be applied: first, to late char~es due tsnder the Note; second, to p: epayment charges due under the ~ '~ote; third, to amounts payable under paragraph 2; fourth, ro interest due; and last, to principal due. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable ro the - Property which may attain priority over this Security Instrument, and leasehold payments ~r ground rents, if an}~. I3orrower shall pa, ~ obligations in the manncr p:ovidcd ir pa.µg:aph 2, ~r if not paid in that manner, Borrou~er shall pay them on time directly to the person ow~ed payment. Borrower shall promptly~ furnish to Lender all notices of amounts ' t~~ be paid under this paragraph. I1' BorroH~er makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments. 8orrower shall promptly discharge an~~ lien w~hich has pr~orit}~ o~er this Security Instrument unless Borrower. (a) agrees in writing to the payment of the obligation secured by~ the lien in a rnanner acceptable to Lender; (b) contests in good faith the lien Fy, or defends against enforcement of the lien in, legal proceedings w~hich in the Lender's opinion operate to 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 satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property ~s subject to a lien which may attain pnorit}' over this Security Instrument. Ler.der ma}• gi~•e Borrower a j notice identifying the lien. Borrower shall satisf}~ the lien ur take one or more of the actions set fi~rth abo~e within 10 days j oi the giving of natice. j S. Hazard Insurance. Borrower shall keep the improvements now~ existing or hereafter erected on the Property E insured against loss by fire, hazards included with~n the term "exrended coverage" and any other hazards for which Lender i requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The ~ insurance carrier providing the ~nsurance shall be chosen by Borrower subjert to Lender's approval w~hich shal! not be E unreasonably withheld. ~ All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. ~ Lendcr sh311 have the right to hold the poliries and renev?~a(s. If Lender requires. Borrower shall promptly give to Lender f all receipts of paid premiums and renewal notices. In the event of loss, Borrow~er shali gi~~e prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. ~ Unless Lender and Borrower otherw~ise agree in writing, insurance proceec~s shall be applied to restoration or repair uf the Property damaged, if the restoration or repair is economically feasibte and Lender's security is not lessened. If the ~ restoration or repair is not economically feasibie or Lender's security would be lessened, the insurance proceeds shall be ~ applied to the sums secured by this Security Instrument, w~hether or not then due, with any excess paid to Borrower. If ~ 3orrower abandons the Property, or does not answer within 30 day~s a notice from Lender that the insurance carrier has f 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-da~~ period will begin : ~ when the notice is given. _ ~ Unless Lender and Borrower otherwise agree in writing, aoy application of proceeds to principal shall not extend 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 acquired by L,ender. Borrower's right to any insurance policies and proceeds resulting ? = from damage ro 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 acyuisition. ; ~ 6. Preservation and Maintenance of Property; Leaseholds. Borrower shall not destroy, damage or substantiali}~ ~ ~ , _ change the Property, allow the Property to deteriorate or commit waste. this Security Instrument is on a leasehold, ~ Borrawer shall comply with the provisions of the lease, and if Borrower acquires fee title to the Property, the leasehold and : fee title sha11 not merge un(ess Lender agrees to the merg~r in writing. 7. Protection of L.ender's Rights in the Property; :1lortgage Insurance. If Borrow~er fails to perform the covenants and agreements 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 regulati4ns), 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 o~er this Security ~ = Instrumer~t, appearing in court, paying reasonable attorneys' fees and entering on the Property~ ro make repairs. Although ~ Lender may take ac~ion under this paragraph 7, Lender does not have to do so. k Any amou~ts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this ~ Security Instrument. Unless Bor•ower and Lender agree to other terms of pa}~ment, these amounts shall bear interest frorri the date of disbursement at the Note rate and shall be payable, with interest, upon notice from L~nder to Borroa•er requesting payment. ~ i . ; gooKfi75 Pa~~23~~4 ~ ~ . ~ . . . ~ .-_..~Y,.... ~ ~~"~x~~ .F~"'r~~~~~ ~ ,