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Home My WebLink About2473 ~`~~F , i t?~?uR~t ('u~ 1~~~~~s liurru~ti~r ~n~1 l rn~lrr ru~rnant an~l a~rr~ luli.~:~.: 1. PA~ment o( Yrincipyl ~?nd Interesl; Prep~~ ment ar~d Latr Charges. Rurru~~rr .hall prumpti~ ra~ hcn ~lur thr princ~r.il ~~1 and intrr~,t on thr debt r~idenced b~• the tiote and an~ prrpa~ ment and lat~ rhar~;r, d?ir undcr thr \utr. 2. F unds tor Ta~es and Insurance. Suhject tu applicablr law ur to a H ritten ~~ai~ rr b~ Lrnder, H~~rn~~~rr shall pa~ _ t~~ I.~ndrr un thi da~ r.~unthl~ p~~ mrnt~ ar~ du~ under thr \~~te, until the ~~nr is paid in lull, a,um 1"t=und,"1 eyual tu un~-t~~rlfth ~~f: (al ~~arl~ taxr, ~nd a.u~,ments «hich ma~~ attain priorit~ u~er this Securit~ In,tnirnrn~: Ibl ~rarh 3 lea.rhul~i pa~ment~ ur gruun~i rrnt. un the Propcrt~~, ii~ an~; (ci yearl~ ha~ard insurancr premiums; and (d) ~rarl~ ~ m:~rtgage intiurance pr~ mium., il an~. ~I hr~r item~ are ealled "escroH itrm~." l.endrr ma~ rstimate the t=un~i~ ~lur on thr ba~i. ~,f current dat:: and rea~onahk r,timates of fuwre escroH item.. The Fund~ shall he held in an institution the deposit~ or account~ of hich are in~ured e~r guaranterd b~ a lyderal ~ or.tate agrnc~~ (including Lendrr if l.ender ~s such an insti~ution). Lend~r shalf appl~~ the Fund~ to pa~ the esi:mu item~. ' l.cnder ma~~ not charge for huWin~; and appl~~ing the Funds, anai~~ing the aecuunt or ~erif~~ing the escroH itrms, unlr.. L~nd~r pa~s Borrotier intere.t un the Funds and appticable law permits Lender to make such a charge. Borr~~~rr and I.endrr ma~ agrre in riting that intrr~st .hdll be paid on the Fund~. Unle,s an agrermrnt i. made or applicable i~eyuirr~ s inter~st to be paid, l.rnder tihall nut t~r rryuir~d to pa~ BurroHer am~ interest or earning, un the Fund~. Lrnder ~hal! gi~r tu Harru~cr. ithout charge, an annual acco~mting of the Fund, shuH ingcredit~ and dehits to the F~und~ and thr pur{~os~ - fur hich each debit to thr Fund~ aa. mad~. I he Fund~ arc pledged a~ additional ,ecurit~~ for the ~um, ucured b~ thi, Srcurit~ In~trumcnt. If the amoum uf the F und~ hrtd b~ l end~ r, together H ith the tuture monthl~~ pa~ ment. uf Fund, pa~ able priur tu thr di?r date. ~~f the ~+rru~~ it~m,, shall exceed thr amount reyuired to pa~~ the rscro~~ item~ hen due, th~ e~cc~s ,hall hr. at Borru~~~r'~ uption, rither prompth• repaid t~~ Bc~rruNer c~r cre~dited to Borro~~rr on mon:hh• pa~ ments ol Fund.. I(tht amuunt of the Fund, held b~ l_endcr i~ not su(ficirnt tu pa~ the escroti items ~chen due, Borro~~er shall pa~ to Lender an~ amount nece~,an~ to make up the deficienc~~ in one or more pa~ ments as reyuired b~ Lender. l~pon pa~~mrnt in full ufall ~ums securrd h~ this Srcurit~ Instrumcnt, I_ender shall prompth~ refund ti~ Borro~eer am t=unds held b~ I.endec If under paragraph 19 th~ Propert~ is sold or aeyuired b~~ l.rnder, an~ Fund, held b~~ Lrn~ier at thr time ut application as a credit agaimt the ~ums ,ecured b~ this Securih~ Instrument. 3. Application of Pa}ments. Unless applicable fa~~ pro~ides other~?is~, all pa}~ment~ recei~ed b~ Lendrr under . paragraphs 1 and 2~hall be applied: first, to late charges due under the 1ote; second, to prrpa~ ment charges due under the \otr; third, to amounts pa~able undrr paragraph 2: fourth, to intrrest due; and la~t, to principal due. 4. t~harges; I.iens. Borro~~er shall pa~ al! taxes, a»es~ments, chargrs, fines and impositions auributable tu th~ Pn~prrt~ ~~hich ma~~ attain priorit~ o~er this Srcurit~~ Instrument, and leasehuld pa~~mcnts or ground rents, if an~. B~~rru~~er shall pa~~ these obligatian~ in the manner pro~ ided in paragraph 2, or if not paid in that manner, BorroNer shall pa~ them on time directl~~ to thr person o~~ed pa~ ment. Borrower ~hall promptl}~ furni,h to Lender all noticc~ of amount. to he paid under this paragraph. lf BorruHer makes thrse pa~~ments direct{~, Borro~~cr shall promptl~~ futnish to l.ender rrceipt, e~ idencing the pa~ mrnts. ' B~~rro~+er shall prompth di,charge am lie n~+hich has priorit~ o~ er thi~ Seccurit~ In.trument unlrs~ Bexro~~ rr.1a ) agree~ in riting to thc pa~ ment of the obligatian securrd b~ thr lien in a manner acceptable to Lender, (b) conte~t. in goud faith thr lien b~. ~x defend~ againtit enforcemem uf the lien in, legal pmceedings which in thr l_ender'. opinion operate t~~ pre~ ~nt the enforcement of the lien or forfeiture ~~f an~ part of the Propert~~: or (c) sccure~ from the holder ~~i i the lien an agreement sati,factor~ to lender,ubordinating the lien to this Srcurit~ Instrument. If l.rnderdetermine. that ~ ant part of the Properh i~ subject to a lien ~~hich ma~ attain priorit~~ o~er this Securit~ ln~trument, l.endrr ma~ gi~~ Hurro~~er a nutic~ identif~ing the lien. BorroNer shall satisf~ the lien or take one or more of the acuun~,et forth ab~~~e ! ~~ithin 10 da~s of thr gi~ing of notice. ; 5. Hazard Insurance. Borro~~er shall krep the impro~ements noH ~xisting or hereafter erected on the Proprrt~ ~ in,ured against loss b~ fire, harards included within the term "ext~ndcd co~erage" and an}~ other haiard~ for ~~hich r Lrnder reyuires insurance. This in~urance shall be maintained in the amount~ and for the peri~~ds that Lender reyuire.. ; ~l hr insurance carrier pro~ iding the insurance shall he chosen b~ Borroaer subject to Lender'~ appro~ al hich shall ne~t j be unreasemabl~~ ~~ithheld. ; AI! in~urancr policie, and rene~~alti shall be acceptable to Lender and ~hall include a~tandard mc~rtgage clau.e. t Lender shall ha~ e the right to hold the pol'scieti an~ rene~?als. If Lender reyuiret. Borro~~er shall prompth• gi~ e ta Lendrr ~ all receipts of paid premiums and renewal natices. In the e~ent of loss, Borro~tier shall gi~e prompt notice to the insurancr ~ carrier and Lender. l.ender ma~ make proof of loss if not made promptl~ b~ Borrotier. l'nless l.ender and Borrower othertiise agree in writing, insurance proceeds shall be applied to restoration c~r ! rrpair of the Propert~~ damaged, if the restoration or repair i~ ecanamicall~~ feasible and Lendrr'ti tiecurit~ is not les,ened. ~ If the restaration c~r repair i. not economicall~ feasible or Lender's securit~ ~+ould be le~uned, the insurane~ procerd. j .hall be applied to the sums ,ecured b~ thi~ Securit~~ In.trument. Nhether or not then duc. ~~ith am excess paid to ~ Borru~~er. If B~~rro~~er abandon~ the Propert~~, or doe+ not antiaer N ithin i0 da~~s a notice from Lender that the insurancr ~ rarrier ha~ olfered to settle a claim, then Lender ma~~ collect thc insuranc~ proceeds. Lender ma~~ use the proceeds tc~ E rrpair ur resti~re the Propern or to pa~ sums srcurrd b~ this Securih lnstrument. hethrr or not then due. "I h~ 30-da~ E prriad Hill brgin when the notice is gi~en. " - - ~ t'nle.s Lerrder and B~~rrower uther~~ i.e agree in riting, an~ application o( proceeds to principal.hall nut ~~tend ~ c~r p~~,tp~~ne the due date i~f the monthl~ pa~ment~ referred tc~ in paragraph~ I and 2 or changr ti~r amount e~f thr ~+a~ment,. if under naragraph 19 the Propert~ i, acyuired b~ Lender. BorroNCr'~ right tu an~ imurance pe?lici~~ and ~ ~r~~ceeds resulting tmm damage t~~ the Propert} prior to the acyui~ition ,hall pa~s to I.endrr t~~ thr extent ut the ~um~ ~ ~rcurrd b~ thi, Securit~ imtrument immediatel~ priur to the acyui,ition. ~ 6. Preser~ation and 1laintenance of Propert}: Leaseholds. Borro~+rr,hall nut de,tru~. dama~e ur.uh.tantiall~ chang~ the Propertt, allc~w the Propertc to detrriorate or commit ~+aste. If thi. Securit~ In.trumrnt i. t~n a Iea.ehold. ~ B~~rre~~tirr,t~all com~l~ ~~ith the pro~i,i~~n~ of the lea~e. and it~ Bc~rrc~~+er acyuire. fee title tc~ thc Pre~r~rt~, the lea.ehu~d ; and ter title ~hall n~n merge unlr.s Lender agre« to thr mergrr in ~~riting. ~ 7. Protection of i.ender's Rights in the Propert~; '.1lortgaRe Insurance. lf Bc~rm~~er faila to ~ert~~rm the ~ ~un~enant~ and agreement~ contained in thi~ Securih Instrument, or there i. a let!al ~roce~ding that ma~ ~ignifirantl~ ~ a(fect Lendrr'ti righi. in the Pruprrt~~ (such as a pmceeding in bankruptc~, probate. 1e~r c~~ndemnatiem ~~r tc~ enfarce la~» ~ ur regulationti then I.ender ma~ do and pa~~ for hate~er is necessar~~ to protect the ~ alue c~f thr Pmpert} and Lendrr'~. ~ ; rights in the Propert~. l.ender's act~on~ mac include pa~ ing ar~} sumti secured b~ a lien H hich has priuri~~ o~ er thi~ ; Securit~~ Instrument, appearing in court, pa~ ing reationable attorne~s' fces and entering on the Propert~ to make repairs. CD Alth~~ugh l.ender mati take action under this paragraph 7, l.ender does not ha~~e to do so. ~o ~ An~~ amounts ditibursed b~ Lender under paragraph 7 shall become addi~ional debt of BorroNer secured b~~ this o°m s Securit~ Instrument. (?nle~s Borro~~er and I.ender agree to other terms of pa~ment, the~e amounts shall hear interest ; frc~m the date of d~sbur~emcnt at the \ote rate and ~hal) be pa~~able, w ith interest, upon notice from l.ender to Borrouer rcyue~ting pa~ mcnt. ' - C.f-l~°~I~'~=,I~~ `'F-;>;"r.-1-; f;`; T~iE: !._Ei~1„F F' ~C~~ i;ri~?i~~E~~: T~ 1 Q~~ t~I TIi I:~:JftFt°!_1t~i_F' Fr~~~TF Fi T~J(, 1 (I_! Tji:[;~' ,`;1=i_;~_Ii~'I ~ r' Ii~~~'TF;~_ithr:~~i "T~7 i-'~iT' THI~ CO~~T nF Ifi~~~E::PF~~L~Et~ i i CiX R~=f~'(1r; I):rJG , ; ; . ~ , ~r:~ ~ ~ r,rlf~tz~.- ~-ii ; ~1 n:' , ~THE F~F~ECE~DI~~(~ ~E~~~ i E~~lf=E~. r. i;~ ~t f=. i r ~ i~.. t~ F:: F ~ _ , E t- F' f F' _ F::~> 7 ~ , - - - _ _ - _ _ - ~ ~ _ .