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Home My WebLink About2461 . . UNIFORM COVf:NANTS. Burn>wrr anJ l.enJer ruvrnaii~ a~~l aKrer .!S fUIIUN'S: 1. Payment of Principal and Interest; Prepayment aad lace Charges. Burruwer shell prumpcl}~ p.?r~ H hrn .fur chr ~ pnnripal uf and inceresc un che debc e~~idencr~l by ehe N~~ce and any prrpaymrne an~1 late rhar~;es ~~ur un.lrr ehr Nutr. ~ 2. Funds for Taxes and Insurance. Subjecc cu applirable law• ur w a w~riuen w~aiver by~ 1_rnder, Hurruw•er shali pay tu l.cn~fer un the day munchly p:+ymencs are due under the N~~te, until the Nuce is p~id in fuil, a sum ("Fun~1s"1 ryu.~l tu une-cwelfch uf: ~a1 ~~early taxes and assessmrnts which may actain priurity ~~ver this Serurity Inscr~menr, (b) y~early Ir.~srhul~! p.?~•mrnes ur xruund rencs un thr Pruperty, if any; ~c) yearly hazard insurance premiums; .~nd (J) yearly mur~~aKe insuranrc- premiums, if ~ny. Thesr ieems ~rec:~llyd "rsrrow i~ems." l.en~ler m~y e~tim;~ee thr Funds ~uc un ehe b~sis uf current Jaca an~1 rrawnablr estimates ~~f future escruw items. The Funds sh~ll be held in :~n inseicuci~~n the ~eEx,sics ur arcuunts uf w~hirh are insurc~ ur ~;uarar,tred by fe~ir: al ur ~e~cr aKency ( includin~; l.en~er if Lender is such an instituci~>n). Lender sh~ll :~pply che FunJs eu pa~~ che escrua items. Lrn~er m,~y nu~ rh3r~;e fun c~~lding and ~pplying the Funds, analyzing che aca>unt or verifying the escrua• items, unlrss Len~er pays 4~urruwrr inte~est un the Funds :~nd .~ppliiable law• permics Lender tu make surh a rharge. B~xri~wer and l.ender ma~• agree in wrieinK chac ineerest 3ha11 be paid ~>n che Funds. Unless an :~greement is msde ur ~pplir:~ble I~W requires inceres~ tu be paid, Lrnder sh~ll nuc be required tu pay Burruwer any intrrest ~~r earnings un the Funds. Lender shall gi~•e tu Bur:~>wer, v?•ithuut charge, ~n annual arcuuntinK uf ehe Fun~1s shuwing rredics and debics n? the Funds and che purpe~se fur which each debit tu che F~unds w•~s madr. The Funds are pledged as additie~n~l security fur ~he sums secured t~y ehis Securicy Instrumene. ~ it" the amuunt ~~f the FunJs held b~~ Lender, cogether with che fucure munthly p3ymen~s uf Eunds p3yable pnur tu the ~ ~fue dares uf che escruw• icems, shall rxceed the amount requirecl tu pay the escruw iteins v?~hen due, the excess sh~ll be, 3~ Burruwer's optiun, eicher prumpcl} rep3id tu Burrc~wer ur credited w B~~rn~w•er un munthl~• pa}~ments uf Funds. lf the am~wnt uf the Funds held by Lender is nue sufficienc eu pay the esrn~w items when ~fue, Burruwer shall pay cu I.ender an~~ ~ amuun~ necessar~~ tu make up the deficirn~~~ in une ur m~~re payments as requireel by Leizder. ~ Upun p~yment in full uf all sums serured by this Security lnstrument, Lender shall prompcl~~ refund n~ Hirrruwer any Funds hrld by i.ender. If under par~graph l9 ~he Prupercy is suld ur arquirc~ b~' Lender, Lender ~hall apply~, n~? lacer than ~ immrdiately priur a~ the sale uf the Propercy ~~r its acquisitiun b~~ I_ender, ~ny Funds held b}~ I_ender at the ~ime uf :?ppliratiun as a credit againse ~he sums secured by this Security Instrument. 3. Application of Payments. Unless applicable law pnn~ides ~~cherw~ise, all paymenes reiei~•ed b~~ l.ender un.~er p.,raKr.~phs : and 2 shall be applied: first, tu late charges due under the Note; secund, tu prepa~•ment ch,~r~;es due under chr Nuce; third, tu amuunts payable under para~r~ph 2; f~~urth, ro in~eresc due; and last, tu princip~l dur. Charges; Liens. Hurn>w•er shall pay all taxes, asse~sments, charges, fines and impusicions ar~ribuc,?ble cu chr Pr~~percy W~hich may attain pri~?ricy uver chis Security Instrument, an~! leasehuld paymencs c~rKruund rents, if anp. Burrc~w~er ~ shall pay~ theseubligatiuns in the manner pn~vided in paragr3ph ?,ur if nut paid in that manner,B~~rruwer sh~ll p~}'thrm ~~n ~ ~ime directly tu the persun ~~wed p~yment. Burn~wer shal! prumpcly furnish cu I.enaer:~U nuticesuf ame~unts tu br paid urder > this p:~ra~raph. If Hi~rruwer makes thesr pa}•ments direccly, B~>rruw•er shall prumpcly furnish ~u l.ender receipts e~•idencink ~ the pay~ments. ~ ;i Burruvver shall prumpely~ .~ischar~;e any lien which has pri~xity ~n~er ~his Securit}~ Inscrumenc unless Burruw•er ~1~ ; .,~;rees in writin~; w thr pa}•menc uf the ubliK3ciun secured b}~ rhe lien in 3 manner scceptablr tc~ Lender; tb ) c~~ncescs in Kuu~l tauh che lien by, ur ~lefends ag~inst enfurcement ~>f che lien in, legal pnxeedings w~hirh in the [.ender's upinii~n uperace w pre~~ene che enfurcement uf the lien ur furfeiture of an~~ parc ~~f che Pruperry; ur ~ci secures frum the hi~lder uf the lien zn ~ .~Krerment satisfaccor~' u~ Lender suburdinacing the lien a? this Securiry lnstrument. lf 1_enderderermines chac an~~ psrt ~~f chr ~ Pn~pert~• ~s subjrct tu a lien which may accain prie>rity uver chis Securit}~ lnstrument, I.ender may~ ki~~e Burruwer a nusire € i~lencifyin~; ehe lien. Hurn~wer shall sacisf}~ the lien ~~r take une ur mure ~~f che actiuns sec fc~rth ab~n•e w~ithin 10 ~1ays uf the ~;i~•in~; uf nu[ice. 5. Hazard lnsurance. Burruwer sh:~ll keep the impruvements now exiscinK ur hereafrer erec~ed un the Pre~pertJ~ insured against luss by fire, hazards included w•i~hin che eerm "exrended coveragr" and an}~ ocher hazards fur which Lender I requires insurance. This insurance shall be maintained in ~he amuun~s and for che periucis chat Lender requires. The ~ ;nsurance carrier pn~vidinK the insurance shall be che~sen by~ Borrower subject to l.ender's sppru~~al which shall nut be ~ unreas~>nably withheld. ~ ~ All insurance pulicies and renewals shall be acceptable tu Lender and shall indude ~ standard mi~rcgaKe clause_ Lender shall h;~vr the right t~~ hc~td che Ex?licies and renewals. If Lender requires, Borruwer shall prumptly~ gi~~e cu Lender a!I receipcs ~ i ~,f p.~id premiums and renrwal nutices. In the evenc uf toss, Burrou~er shall gi~~e prumpe nixice tu the insurance c~rrier ~n~ ~ i lxn~er. Lender may make pnwf of luss if not made prumpcly by f3urruw-er. a Unless I.ender and Burrower ~cherwise agree in writing, insurance pr<xeeds shall be applied tc~ :escuracii~n c~r repair „f ~he Propercy damaged, if the res~oraci~~n c~r repair is eci~nc~mically feasible and Lender's securi~J~ is nuc lessened. If thr ~ ? rrsturatiun or repair is n~x ecunumically feasible e~r Lender's security would be lessened, ~he insurance prureeds shall be ~ f applied tu the sums secured bJ~ this Securicy lnstrument, whether c~r nc~t chen due, with an~~ excess paid u~ He>rruwer. If ~ s Burru~•er abandc~ns the Pre~perry, ur dues nuc :~nswer w~ichin i0 days ~ nutice fre~m I.ender ch~t thr insurance rarrier has 4 ~,ffered u~ settle a claim, chen Lender may cullecc the insur~nie pn?ceeds. Ixnder may use the pnxeeds te~ repair ur restore the , F Prupertq ur cc~ pay~ sums secured by this Security Instrument, whether ur nuc then due. The 30-day~ periud will begin when che € nutice is ~i~~en. ` Unless I.ender and Burruwer u~herw~ise aKree in wrieinK, any applicatiun uf pnxeeds ce~ principal shall nuc ex~end ur s }x,sc~~ne che due ciate c~f che mun~hly~ payments referred tu in para~raphs i:~nd > ur chanke cne amuunc ~~f che pa}mencs. [f under p;~r.~Kraph 1~) the Pn>percy is scquired by 1_~nder, Burn~wer's ri~ht tu any insurance ~x>liries and pr~xeeds resulcing frum d~mage tu the Yruperty priur n~ the acquisiciun shall pzss cu l.ender te~ che extenc i~f che sums secured by ehis Securiry~ ; Instrument immedi3cely priur n> thr acquisitiun. i ~ G. Preservacion and Maintenance of Property; Leaseholds. Bc~rruw~er sh.~ll n~~c dcstrt~}•, d.~ma~;e ur subst~ntiallq ; rhanKe the Prufierty, alle~w the Pn?percy cu de~erie~r:~ce ur cummit aaste. If this Securit}• Instrumen~ is un a lrasehe~lci, Hurre>w~er sh311 ce~mply wi~h che pruvisiuns uf the lease, and iF &~rn~wer acquires fee cicle cu che Yre~perc}', the ieasehuld znd ; fee cirle sha11 n~~t merKe unless Lender akrees te~ the mer~er in writin~;. ~ ~ 7. Protrction of Lender's Rights in the Property; Moctgage Insurance. l~ Hurruu~er fails cu perfe~rm che cu~•enan!s ~ .~nd a~reements cun[ained in chis Securit;• Inscrument, ~.ir there is a le~;al pnxeedin~; thae ma}' significantly~ affece Lender's ; rights in the Yn~pere}' ~ such as a pn>ceeding in bankruptcy, pruba~e, fur c~>nJemnaticm or tu enfe~rcr laws ~~r rebulatiuns), then ~ Lencier may~ do and psy~ fur whatever is necessary n~ protert che ~~alue ~~f ehe Propert}' and t.ender's ri~;hcs in tne Propert~•. ; , l.~ nder's acci~~ns may include p:~yinK any sums serure~ by a lien which has priority ~rver this Security~ Instrument, appearing in iuurt, paying reasunable attorneys' fees and entering c~n the Pruperty a~ make repairs. AlchuuKh l.ender may take actii~n under chis paragr.~ph 7, Lender dues n~~c have u~ dc~ s~~. Any :~mc~unts disbursed by Lender under ~his paragraph 7 shall berume additi~~nal deb~ uf Burruwer secured b~~ this Se.uricy~ Inscrument. Unless Borruwer and Lender agree te~ other terms ~~F payrnent, th~se amuunts shall bear interest frum ~he date ~~f disbursemenc at rhe Note race and shall be payable, w~ith interest, u~xm notice frum I_ender c~~ Burruwer requescing payment. BOOK PAGE~~6~ - - _ -Yr- _x.°~. ~ ~ ~T~ ~a,~,:t ~