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Home My WebLink About2645 f l'~u ~~K~~ Ce» t:~:~tiTS f3orro~cr and Lr.nder ru~enant and agrre a~ foll~~~+,: ~ 1. Pa~~ment of Yrincipal and Inttresh Prepayment and L~te Charges. B~uruwtr ~h~ll ~rumptl~ ra~ ~~hrn ~fur thr ~nnripal uf and inter~st on the debt evidenced by the Note snd any prepa~ rnent and late chargr~ clur undrr thr \~~tr. } 2. Funds for Taxes and Insurance. Subject to applicable law~ ur to a w~ritten w;~i~ ec by Len~irr, Borru~~ er tihal! ~a~ ~ t~~ Lender on the day monthly pa}•ments are due under the 1Vote, until the Note is paid in full, a tium ("Fundti") eyual t~~ une-twrlith of: (a) }~early taxes and assessments which may attain priorit~~ o~er this Securit~• Intitrument; Ih) ~~rar!} ~ Icasehold pa~ments or ground rents on the Pro~rry, if any; (c) yearly h;~zard insurance premiums; and (d) ~early ~ ~nortgage insurance premiums, if an}~. These items are called "escrow items." Lender ma~~ rstimate the Funds due on the i,~,i, uf cu~ rejrt Jaia anci rraa~muoie r~tirnetrs oi future escrow iiems. The Funds shall be held in an institution the deposits ar accounts of w•hich are insured o~ guaranteed b~ a iederal or ~ state agency (including Lender if Lender is such an institution). Lender shall appl}~ the Fund~ to pay~ the escrow~ itemti. Lender may not charge for holdi~g and applying the Funds, analyzing the account ur ~~erify~ing the e~crow itrms, unless ~ Lender pa}~s Borrower interest on the Funds and applicable law permits Lender to make such a charge. Borrower and ~ Lender ma~• agree in writing that interest shall be paid on the Funds. Unless an agreement is mede or applicable taw~ ± reyuires interc~t to be paid, Lender shall not be required to pay Borros~•er any~ interest or earning~ on the Funds. Lender shall gi~~e to Borrower, without charge, an annual accounting of the Funds show~ing credits and debits to the Funds and the purpose for which each debit to [he Funds w~as made. The Funds are pledged as additionai security ior [he ;ums secured this Security Instrument. If the amount of the Funds held by Lender, together with the future monthly payments of Funds pa~~able prior to the due dates of the escrow items, shall exceed the amount required to pay the escrow items when due, the exct~ss shall be, at Borrow•er'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 sufficient to pay the escrow items when due, Borrow~er shall pa}• to Lender any ~ amount necessary to make up the deficiency in one or more payments as required by Lender. ~ Upon payment in full of ail sums secured by this Security Instrument, Lender shall promptly refund to Borrow~er .i any Funds held by Lender. If under paragraph 19 the Property is sold or acquired by Lender, Lender shall appl}•, 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 application as a credit against the sums secured by this Security Instrument. ~ 3. Application of Payments. Unless applicable 1aw provides otherwise, all payments received by Lender under ~ ~aragraphs 1 and 2 shal) be applied: first, to late charges due under the Note; second, to prepayment charges due under the ; tiute; third, to amounts payable under paragraph 2; fourth, to interest due; and last, to principal due. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Nroperty which may attain priority o~~er this Security InstrumenE, and leasehold pa}~ments or ground rents, if an}~. Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, B~~rrow~er shalt pay them on time directly 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 promptl}• furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority~ over this Security Instrument unless Borrow~er: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, ~b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which 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 (ien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of . the Properiy is subject to a lien which may attain priority over this Security Instrument, Lender rrzay~ give Borrow~er a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth abo~~e w~ithin 10 days c~f the giving of notice. 5. Hazard Insurance. Bnrrow~er shall keep the improvements now• existing or hereafter erected on the Propert~ insured against loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender reyuires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The ~ insurance carrier providing the insurance shall be chosen by Borrower subject ro Lender's approval w~hich shall not be ! unreasonably withheld. ~ All insurance policies and renewals shall be acceptable to Lender and shal! include a standard mortgage clause. ~ Lender shall have the right to hold the Qoiicies and renewals. If Lender requires, Borro~~er shall promptly gi~•e to Lender ~ al! receipts of paid premiums and renewa( notices. In the event of loss, Borro~c~er shall gi~e prompt notice to the insurance ' ~arrier and Lender. Lender may make pra~f of loss if not made promptly by Borrower. Unless Lender and Borrower otherw~ise agree in writing, insurance proceeds shall be applied to restoration or repair ~ <~f thc Property damaged, if the restoration or repair is ecc~nomically feasible and Lender's security is not lessened. [f the r restoration or repair is not economically feasible or Lender's security wouid be lessened, the insurance proceeds shall be ~ appiied to the sums secured by this Security Instrument, whether or not then due, a~ith any excc~s paid to Borrower. If fi Borrower abandons the Propert}~, or dces not answer w~ithin 30 days a notice from Ler.der that the insurance carner has ~ offered to settle a claim, then Lender may cc~llect the insurance proceeds. Lender may use the proceeds to repair or restore ~ the Property or to pa}- sums secured by this Security Instrument, w~hether or not then due. The 30-da~~ period w~ill begin ~ hen the notice is gi~~en. ~ Unless Lender and Borrower otherw ise agree in writing, any application of proceeds to principal shall not extend or t ~,ost~ne the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the pa}~ments. If 5 under paragraph 19 ihe Property is acquired b~~ Lender, Borro~t~er's right to any insurance policies and proceeds resulting ~ from damage te the Property prior to the acquisition shall pass to Lencier t~ the extent of the tiums secur~d b~ this Serurit~ } ~ Intitrument immediatel}~ pric~r to the acquisition. 3 ~ 6. Preservation and ltaintenance of Property; LQaseholds. Borro~~er shall not destro}~, damage ~r substantiall} f ~ rhange the Property, allow the Pro}~?ert}• to deteriorate or commit w~aste. If this Serurit~~ Imtrument is on a leasehold, Borrow~er shall rnmpfy~ with the pro~isions of the lease, and if Borrower acquire~ fee title tc~ the Yr<~~ern~, the lea~ehold ~nd ~ _ !ee title shall not merge unlesi Lender agrees to the merger in w riting. - 7. Protection of I,ender's Rights in the Property; 1lortgage Insurance. If Borrcn+er fails to perform the ~ co~enants and agreements contained in this Securit~• Instrument, or there is a Iega1 prexreding that ma~ ~ignifirantl~ affec; ~ F. Lender's rights in the Propert~~ (such as a proceeding in bankruptc}~, pmbate, for rondemnation or t~ enforce la~ss c~r regulations), then Lender ma}~ do and pay~ for w~hate~~er is necessar}~ to protect the ~~lue of the Pro~ert~~ and Lender's rightti ~ in the Propert}~. Lender's actions may include ~ay~ing an}~ sums secured b~ a lien w~hirh has ~+ric~rit} o~er this Serurit} ~ Instrument, a~~earing in court, pay~ing reasonable attorne}~s' fees and entering on the Yropert~~ t~ make re~airs. Alth~ugh u Lende~ ma}~ take action under this paragraph 7, Lender d~es not ha~~e t~ do so. ~ An}~ arnounts disbursed b}• Lender under this paragrapn 7 shall become additi~nal debt ~f Barrc~wer,ecured by~ this ~ Securit} Instrument. L'nless B<~rmuer and Lender agree tc~ other terms of pa}~ment. the~ amc~unts shall bear intere;t fr~m ~ the d~te of disburtiement at the tic~te rate and snali be pa}able. ~rith interest, upc~n nc~tice from Lender tc~ Barr~,H~r ~ . - ~eyuesh,ig ~ayment. t ; ~ k ~ S BORK 6~15 P,~r 2645 ~ ~ : , ~ ~y,- .,~,x>,~~~:~.~~=~~r ~