The URL can be used to link to this page

Home My WebLink About2716 ~ ~ i l~ ~~?t~~ ('u~ 1~ H~~rru~rrr and 1-cncJrr ~~,~enant an~1 a~rcr a, l:,Ii~~~~, 1. i'a~mcnt oi l'rincipal and Interest; Prepayment and l.ate ('harKes. l3~~rr~~~~rr .hall {~n~m~ti~ ~~a~ ~~h.•n .lur ~ t hr ~~nnri~al ut and intrrc,t un the debt e~~~den~e~l b} thr \ute ~nd any pre~a~ ment .ind la~r ~har~r, ~fuc un~rr thr \~,tr 2. I~unds for Taxes and Insurance. Subje~t to uppiirublr law ~~r i~~ ~~snttrn ~~a~~rr h~ L.rniirr, f3~~rr~~~~rr ,hall ~~:i~ tu I.rn.lrr ~~n thr ~iay munthl~~ ~aymrnt~ are d~e under ihe Notr, until the Nute i, ~aid in full, a~um 1"F=uncf.") ryual t~~ ~ ~,ne-iw•elfih <~f: 1a) ~e:~rl~~ ta~eti and assr»mrnts which ma}~ an~in ~riurit~ u~rr th?~ Srrunt~ Imtrumrnt: Ib) ~~:~ri~ Ira~eh~~ld pa~mentti ~~r grc~und rents on the Property, if any~; Ir) >earl}~ ha~ard imuranrc ~r~m~um,; an~i (d? ~rarl~ murtgage intiuranre premiums, if an~~. These items are called "eurow itemti." Lrn~irr ma~ r~um;~tr the Fw~~i~ dur un thr ba~iti ~~f currrnt data and rea~onable etitimate~ of fuwre c~crow~ itemi. The Funds tihall be held in an institutiun the depc~sits or ara~unt~ c~f hirh are ~~~.urrd ur guarantred b~ a fedrral ur ~tate agenr}~ (including Lender if l.ender is tiuch an institutiun). Lendrr tihall appl~ thr t=und~ t~~ pa} the e~~ru~c item.. ' Lender ma~ not charge fon c~~lding and applying the Funds, analyzing the account or ~erif~ing the r~crc~~~ itrms, unle~ti Lender pa~~ Borm~~~er interest on the Funds and applicable law permits Lender to make tiurh a chargr. Borrc~wrr and ' i.enc~er ma~~ agree in w~riting that interest shall be paid on the Funds. Unless an agreemen~ iti m~de or appli~able luw reyuires interest to t~ paid, Lender shall not be required to pay Borrc~~~er an~~ interest or earning~ ~m the Funds. Lendrr shall gi~e to Borrow•er, without rharge, an annual accounting of the Fur.dti sh~~w ing credits and drbitti to the Funds and thr i ~urExne for w~hich each debit to the Funds ~~~as made. The Funds are plydged ati additional ~rrunt~ f~~r thr ~um, ~ecurcd b~ ~ this Security Instrument. If the amount of the Funds heid by Lender, together w~ith the future monthly~ pa~ments of Fund~ ~a}able pric~r tu thr due dates of the escrow items, shall exceed the amount required to pay the esrrow~ itemti w~hen due, the excess shall he, ~ at Borrow~er's option, either pramptly repaid to Borrow~er or credited ta Borrow~er on monthl}~ pa~~ments of Funds. If the amount of the Funds held by Lender is not sufficient to pay the escrow• items w~hen due. Borrower shall pa}~ to Lender an~ : amount necessary ro make up the deficienc~~ in one or more payments as required by Lender. U~n payment in full of all sums secure~ by this Security Instrument, Lender shall pmmptly~ refund to f3orrow•er any Funds held b~~ 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, an~• 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 law~ provides otherwise, a!I pa~~ments rerei~ed by Ixnder under par~graphs 1 and 2 shall be a~plied: first, to late charges due under the Note; second, to prepa~~ment charge~ due under the tiote; third, to amounts payable under paragraph 2; fourth, to interest due; and last, :o principal due. 4. Charges; I.iens. Barrower shalf pay all taxes, assessments, charges, finc~ and im~sitions attributable to the Yr~~pert}~ K~hich may attain priority over this Security Instrument, and leasehold pa}~ments or ground rents, if any. H~~rrow~er shall pa}~ these obligatians in the manner provided in paragraph 2, or if not paid in that manner, Borro~~er shall pay them on time directly to the person oK•ed payment. Borrower shall promptfy furnish ta Lender all notices of amuunts tc~ t~e paid under this paragraph. If Borrower makes these pa~~ments directl~~, Borrow~er shall promptl~~ furnish to [xnder rerei~ts e~~idencing the payments. ~ Borrower shall promptly discharge anp lien w~hich has priorit}~ over this Secunt}~ Instrument unlc~~ Borr~~~er. (a) agrees in w~riting to the payment of the obligation seeured by the lien in a manner acceptable to L.ender; (b) contc~ts in gocxi faith the lien b~~, or defends against enforcement of the lien in, legal proceedings which in the Lender's ~~piniun operate to pre~~ent 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 ro this Security Instrument. If Lender determines that an~~ part of the Property is subjert to a lien which may attain priority over this Security Instrument, Lender may gi~e Borrawer ncitice identifying the lien. Borrow~er shall satisfy~ the lien or take one cr more of the actions set forth 3bo~e w•ithin IQ da}ti c~f the gi~~ing of notice. i 5, Hazard Insurance. Borrow~er shall keep the impro~ements now~ existing c~r hereafter erected on the Yro~ert~ i insured again5t loss by fire, hazards included within the term "extended coverage" and an~~ other hazards for which Lender ~ reyuires insurance. This insurance shall be maintained in the amounts and for the periocis that Lender requires. The i insurance carrier providing the insurance shall be chosen by Bo*row~er subject to Lender's appro~~al w~hich shail nc~t be ~ unreasonably withheld. ~ All insurance policies and renewals shafl be acceptable to Lender and shall include a standard mortgage clautie. i z Lender shall ha~~e the right to hold the policies and renew~als. If Lender requires, Borrower shall promptly gi~e to Lender ; all receipts of paid premiums and renewal notices. In the event of loss, Borrow~er shall gi~e prompt notice ro the intiurance ' carrier ~nd Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrowe~ otherw~ise agree in writing, insurance proceeds shall be applied to restoration or repair i ~+f the Propert~~ damaged, if the restoration or repair iz economically feasible and Lender's securit}~ is not lessened. If the ; restoration or repair is not eronomicail}~ feasible or Lender's securit~~ w~ould be lessened, the insurance proceeds sh~ll be ~ a~plied to the sums secured by this Security Instrument, whether or not then due, w~ith an}~ excess paid to Borrow~er. If ~ Borrower ab~ndon~ the Property, or dces not answer w~ithin 30 da}~s a notice from Lender that the insurance carrier has j ~~fi~ered to settie a claim, then Lender may collect the insurance proceeds. Lender ma}• use the proceeds to repair or rest~~re ~ the Propen~• or to pa}~ s~ms secured b}~ this Securit}~ Instrument, whether or nat then due. The 30-da}~ period H~ill begin ~ w hen the notice is gi~~en. ~ CJnless Lender and Borrow~er otherwise agree in w r.ting, an}~ applicatic~n oi prexeeds t~ principal shal! ~ot extend c~r ~~stpc,ne the due date of the monthly~ pa}•ments referred to in paragraphs 1 and 2 or cfiange the amc~unt c~f the ~a~ ment~. if ~ under ~aragraph 19 the Propert}~ is acquired by Lender, Borrow~er's right to an~~ insurance ~olirie~ and ~rex-eeds re,ulnng ~ fn,m damage to the Vropert~~ ~rior to the acquisition shail ~ass t~ Lender t~ the extent ~f the ~umti ;ecured h~ thi~ Securit~ ~ Instrument immediatel~• ~rior to Ihe a~quisition. ~ ~ 6. Preservation and ~faintenanee of Propert~; I,easeholds. Bcjrrower ~half nc~t de~tre~~, ciamaee c~r.uhtitantiall} - rhange the Propert~~, allow~ the Pm~rty to deteriorate or commit H~aste. If th~s Securit~ Imtrume~t i~ ~~n a leatiehc~ld. 13~~rrc~~~er shall cc~m~l}~ Hith the prrn~isions of the lease. and if Borrow•er aryuire~ fee title tc~ the Pr~~~ertc, the leasehe~ld and fee title Shall not merge unles5 Lender agrees t<~ the merger in w~riting. 7. Protection of I.ender's Rights in the Propert}~; ltoriga~e Insurance. If Bc~rr<~~~er fails tc~ ~erfc~rm the c~~~cnant, and agreementt rcintained in this Serurit} Inttru?nent, or there ~s a le~al ~rereeding that ma~ signifirantl} affect l.ender's nght~ in the Prupert}~ (such as a proceeding in bani~ruptcy, probate, fc~r c~ndemnation ar t<~ enforre law~ ~~r regulatie~ns), ther Lender ma}~ dcz and pa}~ for vs•hatetier is necessar~~ to ~rotert the ~alue of the Pro~ert~ and Lender'~ ri~ht~ ~n the Prn~,crt~. Lender's act?~n~ ma}~ include pa}•ing any~ sums secured b~~ a I~en «hich ha~ ~riorih cner thi~ Securit~ In~trument, a~~earing in ~e~urt. ~a~~ing reasonable attorneys' fees and entering cm the Prc~pert~ t~~ make repairs. Alth~~u~h Lrnder m~~ take acti<m under this paragrarh 7, Lender do..s not ha~e to do so. ~ .Ar~~ am~~unts di~hur~ed h~~ Lender under this paragraph 7 sha!1 become additic~nal deht ~~f B~~rmwer ~erured h~ thi~ ~ Serurit~ (n~trument. C'nles~ B~rr~~wer and I.ender agree te other term~ c~f ~a} ment. the~e am~~unt~ ~hall hear inter~~t fr~~m ~ ttie d:~te ~~f cii~hur~ement at the \<~te rate and ~hal) he ~a}ahle, Hith intere~t, u~~»i n~~St~e fmm Lcneier te~ Rrrn~«er ~ _ reyuetinne~a~mrnt. ~ ~ 6`~5 F~1,~F 2716 B~~~K _ _ _ , , , , ~ ~ ~