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Home My WebLink About2663 (x~~0~30fi757 ~ UN:FURM COVENANTS. Borrowtr and Lender covenant and agree as follows: i. Payinent ot Principal and (nterest; Prepayment and Late Charges. Borrower shall promptly pay when Jue the principal .~f and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. F'unds tor Taxes and Insurance. Subject to applicable !aw or to a written waiver by Lender, Borrower shall pay to Lrnder ,~n the day monthly payments are due under the Note, until the Note is paid in [ull, a sum ('Funds') equal to one-twelfth of: (aj ~ ~ arly tares and assessments which may attain priority over this Security Instrument; (b) yearly leasehold payments or ground r~nts on the Property, if any; (c) yearly hazard iasurance premiums; and (d) yearly mortgage insurance premiums, if any. These ms are called 'escrow itemc," 1 cnder may estimate [he Funcis due on the basis of current data and reasonable estimates uf Cuture escrow items. The Funds shall be hetd in an institution the deposits or accounts of which aze insured or guaranteed by a federal or statc ,«;ency (including Lender if l.ender u such an institution). Lender shall appiy ihe Funcis tu pay [he esc.row items. i.ender may nai :harbe for holding and applying [he Funds, analyLing the account or verifying the escrow items, unless Lender peys Borrower intcr~st on the Funds and applicable law permits Leader to make such a charge. A charge assessed by l.ender in connection with (;urrower's entering into this Security Instrum~nt to pay the cost of an independent tax reporting service shall not be a charge fur ~~urposes of the preceding sentence. Borrower and Lender may agree in writing that interesf shali be paid on the Funds. Unle~.~ e.,. ..,~ao ~...,~:~~titP ~a.., ~P~~~~~P~ ~nrPrP~r m he naid_ Lender shall not be reouired to pav Borrower any interest ur ..s: ~b:z=:~:t:.~ L ..:ue,~ t., wrt,.......,-- - - z - ~ arnings on the Funds. Lender shall give to Borrower, wilhou[ charge, an annual accounting of the Funds showing credits and ~i~bits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security f~~r the sums secured by this Securety Instrument. If the amount of the Funds heid by Lender, together wi[h Ihe future monthly payments of Funds payable prior to the duc :I;~tcs of the escrow items, shall exceed the amount required to pay the escrow items when due, the excess shall be, at Borrower's ~~~tion, either promptly repaid to Borrower or credited to Borrower on monthly payments of Funds. If the amount of the Funds I~~Id by Lender is not sufficient to pay the escrow items when due, Borrower shall pay to Lender any amount neces.sary to make ~ip the deficiency in one or more payments as required by Lcnder. ~ Upon payment in full of ali sums secured by [his Security Instrument, Lender shall promptly refund to Borrower any Funds f~~ld by Lender. If under paragraph 19 the Property is sold or acquired by Lender, l.ender shall apply, no !a[cr than immcdiately ~~rior to the sale of the Property or its acquisition by Lcnder, any Funds held by Lender at the time of application as a credit ,~cainst the sums secured by this Security Instrument. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under paragraphs 1 cind 2 shall be applied: first, to late charges due under the Note; second, to prepayment charges due under the Note; third, to ;~mounts payable under paragraph 2; fourth, to interest due; and last, to principal due. 4. Charges; I,lens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property ~ti hich may attain priority over this Security Ins[rurnent, and teasehold payments or ground rents, if any. Borrower shall pay these ,~hiigations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time directly to [hc ~~~rson owed payrr?ent. Borrower shall promptly furnish to Lender all notices of amounts to be paid under Ihis paragraph. If E3urrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borro~er: (a) agrees in riting [o the payment of [he obligation secured by the lien in a manner acceptable [o Lender; (b) contests in good faith the lien or defends against enforcement of the lien in, legal proceedings which in the L.ender's opinion operate to prevent thc ~nforcement of the lien or forfeiture of any part of the Property, or (c) secures from the holder of the lien an agreement ~atisfac[ory to l,endcr subordinating the lien [o this Security Instrument. If Lender determines that any part of the Property is ;uhject to a lien which may attain priority over this Security Instrument, Lender may ~ve Borrower a notice identifying the lien. F3~xrower shail satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice. 5. Hazard Insurxnce. Borrewer shall keep the improvements now existing or hereafter erected on the Property insureci :~~ainst loss by fire, hazards included within the term "extended coverage" and any other hazards for which Lender requires r :fi:urance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier ~ E~re,viding the ins~rance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. ~ All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall ~ h,,~e the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender all receipts of paid pre~niums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier and L.ender. ~~nder may make proof of loss if not made promptly by Borrower. ~ Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or re~;air of the Froperty damaged, if the restoration or repair is economically feasibte and L.ender's security is not lessened. If [he restoration or re~air is not economically feasible or I.ender's securi[y would be lessened, the insurance proceeds shall be applied to the sums ,~~cured by ihis Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons thc f': o~erty, or dces not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a daim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or ro pay sums ~.~cured 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, any application of proceeds [o principal shal! not extend or ~~~~:t~one 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 Lender, Borrower's right to any insurance policies and proceeds resulting from ~ :iamage to the Property prior [o the acquisi[ion shall pass [o Lender to the extent of the sums secured by this Security Instrument ~ immediately prior to the acquisition. ' 6. Preservation and Maintenance of PropeMy; [.easeholds. Borrower shall not destroy, damage or substantially change the Property, allow the Property ta deteriorate or commit waste. If this Sccurity Instrument is on a leasehold, Borrower shall cornply { ~.tiith [he pro~~sions of the lease, and if Borrower acquires fee [itle to the Property, the leasehold and fee title shall not merge ~ unless Lender agrecs to the merger in wri[ing. ~ 7. Protection ot Lender's Rights in the Property; Morigage Insurance. If Borrower fails to perform the covenants and ~ ;,c;rcements contained in this Security Instrument, or ther~ is a legal proceeding that may significantly affec[ Lender's rights in the ~ Property (such as a proceeding in bankruptcy, probate, for condemnation or to enforce laws or regulations), [hen Lender may do ~ :,nd pay for whatever is necessary to protect the value of th~ Property and Lender's rights in lhe Property. Lender's actions may ~ include paying any sums secured by a lien which has priority over this Security Instrumen[, appearing in court, paying reasonable ~ ,~ttorneys' fees and entering on the Property to make repairs. Although Lender may [ake action under this paragraph 7, L.endcr ~ ~ ~lucs not have to do so. ~ Any amounts disbursed by l.ender under this paragraph 7 shall become additional debt of Borrower secured by this Security ~ instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest From the date of ~ di~bursemcnt at the Note rate and shall bc payable, with interest, u~wn notice from Lender to Borrower requesting payment. p ;:~„m~ P~ge2of~ ~ BUOK ~75 F1,G: ~t1~~ ~ .l Y . ~ ' a. s^~._.,~l~?-c_ ~.^i+.s.~; .:5.-.s5iw.v,~.fiir~v~ ia-~ z~~ ~e+.tt,~~a~A.ayCY~c+... ?~-.'?s~~'CA~